Submitted by Deepcaster:
“With an inevitable day of reckoning, the U.S. financial and banking systems came literally to the brink of collapse in September 2008. To prevent the unthinkable, the Federal Reserve and the U.S. government created, spent, loaned, guaranteed, and gave away whatever money was necessary, and otherwise bailed out or acquired a number of failing large corporations…
“Those actions forestalled a systemic collapse, but they did not resolve the fundamental underlying difficulties. Contrary to official GDP reporting, there has been no subsequent economic recovery.
“The ultimate costs for saving the system in 2008 and beyond, comes down to inflation, which will be reflected eventually in the complete debasement of the U.S. dollar. Accordingly, actions taken during the crisis-containment of 2008, and later, brought the outside timing for the hyperinflation forecast of 2018, into 2014.
“…the U.S. dollar, as we know it, is not likely to survive until the next congressional election in 2014. [Read more...]