Relevant:
- Lessig: I'm Trying to Run for President, but the Democrats Won't Let Me
- Hyperinflation and Complete Collapse -- Nick Barisheff
- Buying up the world`s gold - China`s long term motive
- China: We can lead world after crisis in Western democracy, capitalism
- China Aims For Official Gold Reserves At 8500t - Chinese Official
2013-07-03 — zerohedge.com
It is particularly a deficiency in democracy, because democracy will also always have people vote themselves a bunch of benefits that the politicians promise to get elected. And that is how you get this spiral effect that keeps going. So the end result is the same.
This time around, though, we are in unchartered territory, because you have got global fiat currencies and you have got a global reserve currency. So unlike hyperinflations in the past -- like, everybody knows about Germany, it was restricted to a country -- this time it is going to be global.
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