Robert Fitzwilson: “History says that once set in motion, fiat money schemes cannot be reversed. Tragedy and collapse are the terminal destinations.”
November 19th, 2012
Today 40-year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, stated, “History says that once set in motion, fiat money schemes cannot be reversed. Tragedy and collapse are the terminal destinations.”
Below is Fitzwilson’s exclusive piece for KWN:
“Andrew Dickson White was a professor of history in the second half of the 19th century. He also convinced Ezra Cornell to create the great university which bears his name. White became the first president of Cornell. The goal was to create “an asylum for science where truth shall be taught for truth’s sake”.
Economy Turns US, Japan Into Ugly Stepsisters
Japan is the canary in the US mine. The collapse of Japan’s super bubble in 1990 did to Japan what the collapse of the dot.com and real estate bubbles did to the US. Same story, same end
Name that country: surging debt, a rapidly falling currency, a sclerotic political system, and a central bank pulling out all the stops to revive a stagnant economy.
If you guessed either Japan or the United States, both would be the correct answer. This week, the similarities between two of the world’s economic heavyweights became more apparent, with both starting to resemble ugly twin sisters.