Guest Post: This Is What Textbook Capital Controls Look Like

Tuesday, February 12, 2013
By Paul Martin

by Simon Black
ZeroHedge.com
02/12/2013

Selling snake oil and issuing unbacked paper currency are not so different. They’re both wildly successful ploys for the guys pulling the strings. And they’re both complete scams that depend solely on the confidence of a willing, ignorant public. But once the confidence begins to erode, the fraud unravels very, very quickly, and the perpetrators resort to desperate measures in order to keep the party going. In the case of fiat currency, governments in terminal decline resort to a very limited, highly predictable playbook in which they try to control… everything… imposing capital controls, exchange controls, wage controls, price controls, trade controls, border controls, and sometimes even people controls. These tactics have been used since the ancient Sumerians. This time is not different.

The Rest…HERE

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