What we are witnessing is the end of THE DEBT STANDARD of money. As I have been stating for a few years here on CHB...the fiat monetary system has a terminal point within its life span. The underlying issue is DEBT MONEY and any society that builds its economy on such money always, without exception, ultimately fails when the debt becomes a larger burden than the economy can service.

Oh, and this so-called bailout will only hasten the end of our monetary system by simply layering more debt upon bad debt, get ready for it. Our government is simply in the business of debt swapping. It is acting in a similar manner as it does with the national debt, in order to make payments on the national debt it must re-borrow creating new debt to pay the old debt. You cannot retire old debt with new debt, it is simply impossible to do, you cannot pay a liability with a liability instrument. You see, within our DEBBT STANDARD of money, there is no way to use a debt instrument (the dollar) to pay a debt, you can only exchange one debt for another. Eventually of course, the debt consumes all economic viability and I believe that is exactly what we are seeing, at least the beginnings of it, I give us about two years before we fully see the effects of the massive debt burden throughout the economy.

"The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them."~Patrick Henry