Monday, June 9, 2008

Debt Rattle, June 9 2008: Leaving the eye of the hurricane

Children playing with stack of worthless currency, Germany 1923.Stoneleigh: This is what central bankers want you to think they're worried about, so that you won't try to cash out, precipitating bank runs and a general asset price collapse. They know perfectly well that we are facing deflation, not hyperinflation, but at the end of the day someone needs to be the empty bag holder. Stoneleigh: The

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