Who Is Crashing The System?
May 15, 2012
With continued volatility in many of the key global markets, 40 year veteran, Robert Fitzwilson wrote this exclusive piece for King World News. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the United States. Here are Fitzwilson’s observations: “We know that the world’s debt-based, fiat money system can only be revived and sustained by the combination of more debt creation and consumption. We have arrived at a critical point in history.”
Robert Fitzwilson continues:
“It has been a common belief, ours included, that there are two alternatives, print more fiat money or risk a catastrophic global depression. A sane person will only choose the ‘print’ option that leads to the avoidance of an economic Armageddon, even if the effect is just temporary.
But, what if this is a flawed scenario and set of assumptions? What if there is another path, and that path is to effectively crash the system? We all know that the accumulated and accrued obligations cannot be repaid and paid, respectively.
We are in a destructive feedback loop in which new fiat money is created to pay for current and growing expenses, effectively creating even more obligations for future taxpayers. Individuals are told that other people will be taxed to pay for their entitlements when the reality is that they are creating future obligations for themselves.
While not a prediction, it is wise to consider another alternative….