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What next? Inflation or Deflation?
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I fear that we are heading for a depression that is worse than the great depression.
Some economists are forewarning of the worst economic crisis for 700 years.
They emphasise this is "a crisis of the same essential cause and characteristics as the general financial-economic breakdown-crisis of the Fourteenth-Century European Lombard banking system, the system of investment banking houses of the type of the medieval Bardi and Peruzzi, which plunged all of Europe into a vastly genocidal "New Dark Age," then, as the present-day Bear Stearns, Lehman Brothers, Goldman Sachs, et al., now.
See:
Parallel Between Current Banking Crisis and 14th Century Banking Collapse
Financial Crisis and Scottish History
Not One Penny To Bail Out The Swindlers!"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."
-- Thomas Jefferson0 -
The lengthy historical article from Frankfurter Algemeine Zeitung, "featuring in detail the 14th century collapse of the Lombard banking system, its consequences, and making the obvious comparison to the current global financial disintegration", can be found here, (for any German readers..)...
Gier, die über Leichen geht (FAZ, Sat 27 Sept)
Mocking the insanity of Tulipmania,
"Flora's mallewagen", or the Chariot of Fools,
painted by Hendrick Pot, c.1640"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."
-- Thomas Jefferson0
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