{"id":65765,"date":"2023-09-19T06:33:09","date_gmt":"2023-09-19T11:33:09","guid":{"rendered":"https:\/\/olduvai.ca\/?p=65765"},"modified":"2023-09-19T06:33:09","modified_gmt":"2023-09-19T11:33:09","slug":"the-coming-collapse-of-the-global-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=65765","title":{"rendered":"The Coming Collapse of the Global Ponzi Scheme"},"content":{"rendered":"

The Coming Collapse of the Global Ponzi Scheme<\/a><\/h3>\n
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\"money<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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It won\u2019t be long before governments around the world, including the one in Washington,\u00a0self-destruct.<\/p>\n

Strong words, but anything less would be na\u00efve.<\/p>\n

As economist Herbert Stein once\u00a0said<\/a>, \u201cIf something cannot go on forever, it has a tendency to stop.\u201d Case in point: fiat money political regimes. Interventionist economies of the West are in a fatal downward spiral, comparable to that of the\u00a0Roman Empire<\/a>\u00a0in the second century, burdened with unsustainable debt and the antiprosperity policies of governments, especially the\u00a0Green New Deal<\/a>.<\/p>\n

In the global Ponzi scheme, thin air and deceit substitute for sound money. As hedge-fund manager Mitch Feierstein\u00a0wrote<\/a>\u00a0in Planet Ponzi,\u00a0\u201c<\/span>You don\u2019<\/span>t solve a Ponzi scheme; you end it.\u201d Charles Ponzi and Bernie Madoff<\/p>\n

made some of their investors a whole lot poorer, but the world didn\u2019t come crashing down as a result.<\/p>\n

For that\u200c\u2014\u200c<\/span>for a Ponzi scheme that would threaten to bankrupt capitalism across the entire Western world\u200c\u2014\u200c<\/span>you need people much smarter than Ponzi or Madoff. You need time, you need energy, you need motivation. In a word, you need Wall Street.<\/p>\n

But Wall Street alone doesn\u2019t have the strength to deliver a truly cataclysmic outcome. If your ambition is to create havoc on the largest possible scale, you need access to a balance sheet running into the tens of trillions. You need power. You need prestige. You need a remarkable willingness to deceive. In a word, you need Washington.<\/p><\/blockquote>\n

As Gary North wrote in a brief\u00a0review<\/a>\u00a0of Feierstein\u2019s book, \u201cThe central banks have colluded with the national governments in order to fund huge increases of national debt, beyond what can ever be paid off. In other words, [Feierstein] has described government promises as part of a gigantic international Ponzi scheme.\u201d<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Coming Collapse of the Global Ponzi Scheme It won\u2019t be long before governments around the world, including the one in Washington,\u00a0self-destruct. Strong words, but anything less would be na\u00efve. As economist Herbert Stein once\u00a0said, \u201cIf something cannot go on forever, it has a tendency to stop.\u201d Case in point: fiat money political regimes. Interventionist […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,150,195,309,33482,379,431,7617,534,2942,1616],"class_list":["post-65765","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-collapse","tag-debt","tag-fiat-currency","tag-george-ford-smith","tag-government","tag-interest-rates","tag-mises-institute","tag-monetary-policy","tag-ponzi","tag-ponzi-scheme"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=65765"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65765\/revisions"}],"predecessor-version":[{"id":65766,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65765\/revisions\/65766"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=65765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=65765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=65765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}