Economic Meltdown: The Final Phase
By Giordano Bruno
In the financial life of every culture built upon faulty monetary policy, there are points at which the thin thread of economic faith; the thread that ties the entire failing system together, the thread made tangible by the hopes (and sometimes ignorance) of the general populace, finally snaps. From Ancient Rome, to Weimar Germany, to Argentina, to modern day America, no society fueled by unsustainable debt and fiat inflation can duck the ‘Fiscal Reaper’ for very long. The U.S. alone has survived since the early 1970’s (after Nixon removed the last vestiges of the gold standard) on nothing but questionable credit practices and baseless optimism, but there is a limit to the power of fantasy. This is a fact that most mainstream financial analysts and some in the American public refuse to grasp. Mere belief in the enduring nature of the marketplace is not enough; the fundamentals must also support that belief.
Today, we face an atmosphere in which the fundamentals are fiercely opposed to the publicly promoted perception of the economy, and it is moments in history like this that present a clear primer for total collapse. Financial disaster is bad enough when it is at least partially anticipated. When the masses are caught completely unaware and unprepared in the midst of misguided conviction, this leads to the worst kind of tragedy: the ironic and Shakespearian kind. To avoid this brand of tragedy is one of the primary reasons why we in the Liberty Movement do what we do. We may not be able to stop the current crisis from developing, but we can create awareness, and through this we can lessen the cultural shock, and thereby lessen the impact.