Subscribe to our newsletter at www.goldmoney.com Bestselling author of The Dollar Meltdown (www.thedollarmeltdown.com and Red and Blue and Broke All Over (freedomprosperity.investorplace.com Charles Goyette, talks to the GoldMoney Foundation’s Alasdair Macleod. Goyette states that members of the Fed are increasingly realising that their idea of managing the economy does not work and that they have magnified problems rather than solving them. The Fed created trillions of new dollars by buying up toxic debt and it’s absurd to think that these measures will be without consequences. They point out that money printing is hurting savings, which form the foundation of sustainable growth. Instead the Fed has encouraged credit-based consumption which has led to the accumulation of massive debts. The question now is in what way these debts will be defaulted on, as there is no way of paying them off. Goyette advocates confronting reality sooner rather than later. In any case the value of the dollar will suffer as a consequence. Both men agree that financial repression is simply not sufficient to get rid of the 0 trillion of US debt. Goyette says that Americans should look to the crisis in Europe as demonstrating that the problem is always bigger than the conventional wisdom acknowledges, and that the solutions favoured by governments are insufficient. This podcast was recorded on June 20 2012.
Get a Good Loan and a Good Car....Even With Bad Credit! Click here!!