“The Credit Ponzi Is Dead” – Brexit Or Not, The Pound Will Crash
by Eugen von Bohm Bawerk via Bawerk.net,
ZeroHedge.com
Jul 17, 2016
Status quo, as our generation know it, established in 1945 has plodded along ever since. It is true that it have had near death experiences several times, especially in August 1971 when the world almost lost faith in the global reserve currency and in 2008 when the fractional reserve Ponzi nearly consumed itself. While the recent Brexit vote seem to be just another near death experience we believe it says something more fundamental about the world.
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