World Crisis Radio Broadcast: Iran Offers Negotiations; Panetta Admits Tehran Has No Nuclear Weapons Program; Al Qaeda Leads NATO’s Syrian Death Squads vs. Assad; US Mounts False Flags; General War in Sight
http://tarpley.net/2012/02/19/special-broadcast/
måndagen den 20:e februari 2012
söndagen den 19:e februari 2012
PIIGS debacle will highlight the risk aspect of sovereign states financing
In the old days the bond markets used to be the real safe haven for investors. Solid returns on risk free papers. The basic logic here is - anyone lending to a sovereign state will never lose money as there always is this wonderful resource to tap out. You know that aspect of a free market apparently everything hinges on – the taxpayer.
The taxpayer not only guarantees your investment as a bond investor it also guarantees all needs to save a financial sector in need via bailouts. And in this frenzy to privatize sure enough the financing of these sovereign states has been 100%last couple of decades via the private finace sector. This as in the US via the implementation of the FED and also in Europe via the so called Maastricht criteria whereby sovereign states not are allowed to create their own credit (without interest).
Instead all central banks merely act as lobbyist for the private commercial banks as it is to them they turn in order to finance their debt and in that process then all are charged with interest. Only issue here and now is that were in the midst of a process that ultimately will result in that the basic foundation making all of this possible – the taxpayer – start to or in many cases already has been more than tapped out. Tax payers in OECD countries are totally not only burdened with massive amounts of private debt but in addition to this they are all citizens of sovereign states all carrying what only can be described as utterly insane levels of debt.
In short the tax payer is no longer physically able to guarantee any further amounts of debt and thus as credit agencies downgrades the ratings for sovereign stated the interest burden of each country increases.
Enter austerity. But even here it is becoming evident that you can not in any way possible save your way out of a debt burden as the social costs and given the amounts of debt and the debt saturation currently at hand. Its also becoming evident the outright looting that is unfolding in front of our eyes as the private financial sector now with all means possible tries to grab all tangible assets worth mentioning from these debt burdened citisens as well as countries. These assets then are in all cases assets owned and already paired for by the taxpayers.
So the taxpayer that already paid for e.g. their utility company via tax funding is now as he as a taxpayer has been the guarantee for the private financial sectors excessive lending without any limit finding himself in a situation of being dumped upon all the debt as well as ripped of all his assets.
Given all of this the risk for sovereign states to involve the private financing industry in any aspect of their future financing will simply become political suicide. What this financial crisis thus has unveiled is the extent to witch the looting has been going on. As long as it quietly was made and then without any excesses these hidden costs has now and with the crises been brought out in bright daylight evident for all to see.
As sovereign states now one after the other, and as the tax payer will be unable to either carry any further debt and at the same time will revolt politically against them doing so, will default it will become evident for all in the private financing sector the actual risk in the bond markets.
And this now is a risk that will be highlighted to such extent e.g. via hiked interest rated that it will become evident for everybody, financing of a sovereign state cannot be made via the private finance sector.
So when all current debt will be cleared of by simple accounting methods (you cannot pay what is impossible to pay) and where more and more people will see the benefit of following Island example of simply refusing to pay the foreign banks and not allowing then to steal their recourses and wealth in bright day light, no body politically sane will look at the private financing industry for funding.
With this then sovereign states will start to implement one after the other financing solutions based on the principle they themselves create their own and interest free credit as a means to fund real infrastructure large scale project and thus getting their people in real work.
As the amount of interest paid for on the debt will be negligible well then the need for an income tax will be significantly reduced. At the same time with significantely reduced interest charges forcing the ecomomy in to a vortex of inflation ordinary peoples puchasing power will be maintained with a stable currency and at the same time as their savings will be protected.
The end result of all of this then will be people having real work and a prosperous economy as people with incomes will be able to use their income on consumption and savings as they are rebuilding their country infrastructure vice.
Now is the time to follow Jesus example and throw out the money changers out of the temple!
Bill Still
http://www.youtube.com/watch?v=UGEPqe7DwLc
No More National Debt
http://www.billstill.com/nomorenationaldebt/
Stephen Zarlenga
works with Rep. Kucinich on The American Monetary Act, designed to resolve the banking crisis. This clip from a longer film defines 3 steps: In addition to nationalizing the Fed. and removing the power of banks to
create money as debt out of thin air, the Act reminds us of the Constitution, Article I, Sec. 8, that states that our government has the sovereign power to issue money and spend it into circulation. Whatever you think about point 3 - the government could not possibly do any worse than the banks.
http://www.youtube.com/watch?v=V_kbyAl3-AM&feature=related
In the above Zarlenga discusses the FED relationship vs the Treasurie but rest assured the same kind of issues prevails relative how now central banks act in Europe. Listen here to what proffessor Hudson says at 06:30 about real choises and also at 09:30 about the Maastricht criteria and the ability of European Central Banks to act as Central banks:
http://www.youtube.com/watch?v=8HWPxQV9FFgu
The taxpayer not only guarantees your investment as a bond investor it also guarantees all needs to save a financial sector in need via bailouts. And in this frenzy to privatize sure enough the financing of these sovereign states has been 100%last couple of decades via the private finace sector. This as in the US via the implementation of the FED and also in Europe via the so called Maastricht criteria whereby sovereign states not are allowed to create their own credit (without interest).
Instead all central banks merely act as lobbyist for the private commercial banks as it is to them they turn in order to finance their debt and in that process then all are charged with interest. Only issue here and now is that were in the midst of a process that ultimately will result in that the basic foundation making all of this possible – the taxpayer – start to or in many cases already has been more than tapped out. Tax payers in OECD countries are totally not only burdened with massive amounts of private debt but in addition to this they are all citizens of sovereign states all carrying what only can be described as utterly insane levels of debt.
In short the tax payer is no longer physically able to guarantee any further amounts of debt and thus as credit agencies downgrades the ratings for sovereign stated the interest burden of each country increases.
Enter austerity. But even here it is becoming evident that you can not in any way possible save your way out of a debt burden as the social costs and given the amounts of debt and the debt saturation currently at hand. Its also becoming evident the outright looting that is unfolding in front of our eyes as the private financial sector now with all means possible tries to grab all tangible assets worth mentioning from these debt burdened citisens as well as countries. These assets then are in all cases assets owned and already paired for by the taxpayers.
So the taxpayer that already paid for e.g. their utility company via tax funding is now as he as a taxpayer has been the guarantee for the private financial sectors excessive lending without any limit finding himself in a situation of being dumped upon all the debt as well as ripped of all his assets.
Given all of this the risk for sovereign states to involve the private financing industry in any aspect of their future financing will simply become political suicide. What this financial crisis thus has unveiled is the extent to witch the looting has been going on. As long as it quietly was made and then without any excesses these hidden costs has now and with the crises been brought out in bright daylight evident for all to see.
As sovereign states now one after the other, and as the tax payer will be unable to either carry any further debt and at the same time will revolt politically against them doing so, will default it will become evident for all in the private financing sector the actual risk in the bond markets.
And this now is a risk that will be highlighted to such extent e.g. via hiked interest rated that it will become evident for everybody, financing of a sovereign state cannot be made via the private finance sector.
So when all current debt will be cleared of by simple accounting methods (you cannot pay what is impossible to pay) and where more and more people will see the benefit of following Island example of simply refusing to pay the foreign banks and not allowing then to steal their recourses and wealth in bright day light, no body politically sane will look at the private financing industry for funding.
With this then sovereign states will start to implement one after the other financing solutions based on the principle they themselves create their own and interest free credit as a means to fund real infrastructure large scale project and thus getting their people in real work.
As the amount of interest paid for on the debt will be negligible well then the need for an income tax will be significantly reduced. At the same time with significantely reduced interest charges forcing the ecomomy in to a vortex of inflation ordinary peoples puchasing power will be maintained with a stable currency and at the same time as their savings will be protected.
The end result of all of this then will be people having real work and a prosperous economy as people with incomes will be able to use their income on consumption and savings as they are rebuilding their country infrastructure vice.
Now is the time to follow Jesus example and throw out the money changers out of the temple!
Bill Still
http://www.youtube.com/watch?v=UGEPqe7DwLc
No More National Debt
http://www.billstill.com/nomorenationaldebt/
Stephen Zarlenga
works with Rep. Kucinich on The American Monetary Act, designed to resolve the banking crisis. This clip from a longer film defines 3 steps: In addition to nationalizing the Fed. and removing the power of banks to
create money as debt out of thin air, the Act reminds us of the Constitution, Article I, Sec. 8, that states that our government has the sovereign power to issue money and spend it into circulation. Whatever you think about point 3 - the government could not possibly do any worse than the banks.
http://www.youtube.com/watch?v=V_kbyAl3-AM&feature=related
In the above Zarlenga discusses the FED relationship vs the Treasurie but rest assured the same kind of issues prevails relative how now central banks act in Europe. Listen here to what proffessor Hudson says at 06:30 about real choises and also at 09:30 about the Maastricht criteria and the ability of European Central Banks to act as Central banks:
http://www.youtube.com/watch?v=8HWPxQV9FFgu
lördagen den 18:e februari 2012
2012-02-13 Athens burns: has #Greece entered its Argentina moment?
Yet as the elites persist with their scaremongering just to buy themselves a little more time, at least the 82-year old WWII survivor Stella Papafagou won’t be afraid of the “apocalyptic” consequences that Prime Minister warned of in Parliament today. “We’ve fought several times for liberation,” she told the New York Times. “But this slavery is worse than any other. This is worse than the ’40s. I would prefer to die with dignity than with my head bent down.”
http://wlcentral.org/node/2457
http://wlcentral.org/node/2457
Eckhart Tolle - short but important interview
http://www.youtube.com/watch?v=oORUehs4s7Q&feature=g-vrec&context=G2f4d520RVAAAAAAAACQ
What happens at the time of death? (Eckhart Tolle)
http://www.youtube.com/watch?v=vWXpPGL55No&feature=related
What happens at the time of death? (Eckhart Tolle)
http://www.youtube.com/watch?v=vWXpPGL55No&feature=related
The Billionaires' Brokered GOP Convention with BBC's Greg Palast
On the Friday, February 17 edition of the Alex Jones Show, Alex talks with bestselling author and freelance journalist for the BBC and the British newspaper The Observer, Greg Palast. He is the author of The Best Democracy Money Can Buy, Vultures' Picnic, and other titles and has appeared in a number of films, including American Blackout, a documentary about voter disenfranchisement and the use of voting machines in both the 2000 and 2004 presidential elections.
http://www.youtube.com/watch?feature=player_embedded&v=-6-SDMlO9yE#!
When the team further untangled the web of ownership, it found much of it tracked back to a “super-entity” of 147 even more tightly knit companies – all of their ownership was held by other members of the super-entity – that
controlled 40 per cent of the total wealth in the network. “In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network,” says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.
http://hypervocal.com/news/2011/the-corporate-1-percent-just-147-companies-control-40-of-worlds-economy/
The Goldman Sachs Network Now Controlling Europe
http://www.youtube.com/watch?v=cpNlnpn0Jvk&feature=player_embedded
Jim Sinclair: The Impending Undeclared Default Of 5 Major US Bank The following interview with Ellis Martin of www.EllisMartinReport.com covers in detail the impending undeclared default of 5 major US banks this week by the International Swaps and Derivatives Association. This even has the potential to cause a second financial crisis that would require significant financial intervention. If you have time to spare, listen to this interview. If you don’t have time to spare, listen to it anyway.
http://profitimes.com/free-articles/jim-sinclair-the-impending-undeclared-default-of-5-major-us-banks/
http://www.youtube.com/watch?feature=player_embedded&v=-6-SDMlO9yE#!
When the team further untangled the web of ownership, it found much of it tracked back to a “super-entity” of 147 even more tightly knit companies – all of their ownership was held by other members of the super-entity – that
controlled 40 per cent of the total wealth in the network. “In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network,” says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.
http://hypervocal.com/news/2011/the-corporate-1-percent-just-147-companies-control-40-of-worlds-economy/
The Goldman Sachs Network Now Controlling Europe
http://www.youtube.com/watch?v=cpNlnpn0Jvk&feature=player_embedded
Jim Sinclair: The Impending Undeclared Default Of 5 Major US Bank The following interview with Ellis Martin of www.EllisMartinReport.com covers in detail the impending undeclared default of 5 major US banks this week by the International Swaps and Derivatives Association. This even has the potential to cause a second financial crisis that would require significant financial intervention. If you have time to spare, listen to this interview. If you don’t have time to spare, listen to it anyway.
http://profitimes.com/free-articles/jim-sinclair-the-impending-undeclared-default-of-5-major-us-banks/
Gold as money a terrible misstake
In a world where fiat currencys are in the process of beeing debased as we speak it may seem they are keeping up their value as the relationship vs another fiat currency may not change that much overtime as they all and together go down in a downwards spiral valuation vice.
In such a world the relative value of commodeties such as e.g. gold is a good investment. This as for instance gold maintains its purchasing value over time and thus protects wealth.
Bottom line and key here is that the driver when Gold is increasing in value is that what actually is happening is that currencys are loosing in purchasing power relative everything else.
"after The Fed’s creation, from 1913 to 2008 (95 years), the value of the dollar, relative to the Consumer Price Index, decreased by 95%. A dollar could buy 95% fewer goods in 2008 than in 1913. Thus, if in 1913, you sat on your savings pile of $1,000,000 for 95 years, it would then be worth only $50,000 in purchasing power (it will have depreciated in value by 95%). One would now need to pay about 20X more than J.P. Morgan for one’s bread.
Ask my mother how much the price of milk has increased just in the last ten years alone.In other words, the value of the dollar remained extremely stable for 150 years, then The Fed was created in order to "stabilize the value of the dollar" and the result has been a 95% devaluation of the dollar in less than 100 years following its creation.
Below is a graph of this history, which I’ve marked with the year 1913 so you can see the change. The graph is also marked with the years of decoupling from the gold standard, as no examination of dollar value would be sound without such mention."
http://www.lewrockwell.com/orig10/voorhees1.1.1.html
No wander people now are turning to hard assets:
http://www.youtube.com/watch?v=umSZOKNHY-M&feature=player_embedded
Question then is how should our monetary system be reformed in order to mend
thise issues?
Clear is we must not make the misstake and base a new monetary system on a gold standard because:
in a world ruled by the wealthy money is defines as wealth (e.g. gold)
In a world ruled by the bankers (as we have today) money is defined as credit
In a world ruled by the people and for the people money is defined by law.
The underlying reason for the financial crisis we now see unfolding in all the OECD countries is based on the fact money today is created as debt and as debt saturation now has reached completely unsustainable levels in ALL parts of our society, (private as well as goverment) the economy is now set up for a real crash as we now can
witness there are basically only two options awailabe for the current establishement to try to solve the challange of over in debt ness.
One is austerity to an extent never in fact seen before (the European prefered solution it seems) or extensive money printing as prefered by the US where today ALL of the tax generating incom on an annual basis (some 2 $trillion) is used to back stop new money printing.
Un sustainable as real and viable economic recovery never has been made successfull by reducing a populations standard of living to more or less a stone age level and as getting in to more debt in order to pay off interest of old debt that not is annualised never was a good idea.
Here more about the real viable alternativ to our current debt based system:
Max Keiser interviews Bill Still
http://www.youtube.com/watch?v=UGEPqe7DwLc
Stephen Zarlenga works with Rep. Kucinich on The American Monetary Act, designed to resolve the banking crisis. This clip from a longer film defines 3 steps: In addition to nationalizing the Fed. and removing the power of banks to
create money as debt out of thin air, the Act reminds us of the Constitution, Article I, Sec. 8, that states that our government has the sovereign power to issue money and spend it into circulation. Whatever you think about point 3 - the government could not possibly do any worse than the banks.
http://www.youtube.com/watch?v=V_kbyAl3-AM&feature=related
In the above Zarlenga discusses the FED relationship vs the Treasurie but rest assured the same kind of issues prevails relative how now central banks act in Europe. Listen here to what proffessor Hudson says at 06:30 about real choises and also at 09:30 about the Maastricht criteria and the ability of European Central Banks to act as Central banks:
http://www.youtube.com/watch?v=8HWPxQV9FFgu
Then regarding preciouse metals you then also need to understand the history e.g. as Gold in 1933 actually was confiscated and owning gold by US citicens not allowed again until 1971
You also need to know Silver was included in these events:
1934: In accordance to the Silver Purchase Act of 1934, U.S. President Roosevelt issued executive order No. 6814 to confiscate and nationalize silver, and outlawing private ownership of quantities more than 500 troy ounces.
March 6, 1933: To curb mass panics and bank runs, President Roosevelt declared a four-day Bank Holiday to stop hoarding and export of gold and silver. The "Emergency Banking Act" passed on Day 3 shut down banks, which needed to be deemed "financially secure" to be reopened.
http://www.reuters.com/article/2011/04/25/us-silver-history-idUSTRE73O13O20110425
Gold Confiscation: Could it Happen Again?
People who scoff at the suggestion that the government might restrict private gold ownership should remember that many other countries have restrictions on (or absolute prohibitions against) private gold ownership. They should also remember that, in 1933, Franklin Delano Roosevelt dealt with a monetary and banking crisis by confiscating all privately owned gold; paying for the gold at $20.67 per ounce; immediately devaluing the dollar by 40 percent; and setting the price of gold at $35.00 per ounce. At a single stroke, Roosevelt increased the government's gold assets, stabilized the monetary system and increased wholesale prices by more than 33 percent. However, he also inflicted losses of 40 percent on gold owners and stripped them of the gold that they saved to insure their financial futures.
http://www.blanchardonline.com/beru/confiscation_again.php
Sure is we now have a real monetary crisis world wide and if you want a world where money then in some form would be backed by gold well then what happened above sure could happen again.
By the way there are other ways in order to revalue an asset e.g. by introducing new trading limits and restrictions. In that regards the story about the Hunt brothers sure is worth while reading.
The Hunt Brothers Silver Corner
http://fskrealityguide.blogspot.com/2008/02/hunt-brothers-silver-corner.html
In the mean time more and more people are now waking up to the fact our current monetary and fianancial system simply isen't worth saving:
The loan sharks are now beating up a poor viktim as an example for all the others
http://intheendwerealldebt.blogspot.com/2012/02/loan-sharks-are-now-beating-up-poor.html
In such a world the relative value of commodeties such as e.g. gold is a good investment. This as for instance gold maintains its purchasing value over time and thus protects wealth.
Bottom line and key here is that the driver when Gold is increasing in value is that what actually is happening is that currencys are loosing in purchasing power relative everything else.
"after The Fed’s creation, from 1913 to 2008 (95 years), the value of the dollar, relative to the Consumer Price Index, decreased by 95%. A dollar could buy 95% fewer goods in 2008 than in 1913. Thus, if in 1913, you sat on your savings pile of $1,000,000 for 95 years, it would then be worth only $50,000 in purchasing power (it will have depreciated in value by 95%). One would now need to pay about 20X more than J.P. Morgan for one’s bread.
Ask my mother how much the price of milk has increased just in the last ten years alone.In other words, the value of the dollar remained extremely stable for 150 years, then The Fed was created in order to "stabilize the value of the dollar" and the result has been a 95% devaluation of the dollar in less than 100 years following its creation.
Below is a graph of this history, which I’ve marked with the year 1913 so you can see the change. The graph is also marked with the years of decoupling from the gold standard, as no examination of dollar value would be sound without such mention."
http://www.lewrockwell.com/orig10/voorhees1.1.1.html
No wander people now are turning to hard assets:
http://www.youtube.com/watch?v=umSZOKNHY-M&feature=player_embedded
Question then is how should our monetary system be reformed in order to mend
thise issues?
Clear is we must not make the misstake and base a new monetary system on a gold standard because:
in a world ruled by the wealthy money is defines as wealth (e.g. gold)
In a world ruled by the bankers (as we have today) money is defined as credit
In a world ruled by the people and for the people money is defined by law.
The underlying reason for the financial crisis we now see unfolding in all the OECD countries is based on the fact money today is created as debt and as debt saturation now has reached completely unsustainable levels in ALL parts of our society, (private as well as goverment) the economy is now set up for a real crash as we now can
witness there are basically only two options awailabe for the current establishement to try to solve the challange of over in debt ness.
One is austerity to an extent never in fact seen before (the European prefered solution it seems) or extensive money printing as prefered by the US where today ALL of the tax generating incom on an annual basis (some 2 $trillion) is used to back stop new money printing.
Un sustainable as real and viable economic recovery never has been made successfull by reducing a populations standard of living to more or less a stone age level and as getting in to more debt in order to pay off interest of old debt that not is annualised never was a good idea.
Here more about the real viable alternativ to our current debt based system:
Max Keiser interviews Bill Still
http://www.youtube.com/watch?v=UGEPqe7DwLc
Stephen Zarlenga works with Rep. Kucinich on The American Monetary Act, designed to resolve the banking crisis. This clip from a longer film defines 3 steps: In addition to nationalizing the Fed. and removing the power of banks to
create money as debt out of thin air, the Act reminds us of the Constitution, Article I, Sec. 8, that states that our government has the sovereign power to issue money and spend it into circulation. Whatever you think about point 3 - the government could not possibly do any worse than the banks.
http://www.youtube.com/watch?v=V_kbyAl3-AM&feature=related
In the above Zarlenga discusses the FED relationship vs the Treasurie but rest assured the same kind of issues prevails relative how now central banks act in Europe. Listen here to what proffessor Hudson says at 06:30 about real choises and also at 09:30 about the Maastricht criteria and the ability of European Central Banks to act as Central banks:
http://www.youtube.com/watch?v=8HWPxQV9FFgu
Then regarding preciouse metals you then also need to understand the history e.g. as Gold in 1933 actually was confiscated and owning gold by US citicens not allowed again until 1971
You also need to know Silver was included in these events:
1934: In accordance to the Silver Purchase Act of 1934, U.S. President Roosevelt issued executive order No. 6814 to confiscate and nationalize silver, and outlawing private ownership of quantities more than 500 troy ounces.
March 6, 1933: To curb mass panics and bank runs, President Roosevelt declared a four-day Bank Holiday to stop hoarding and export of gold and silver. The "Emergency Banking Act" passed on Day 3 shut down banks, which needed to be deemed "financially secure" to be reopened.
http://www.reuters.com/article/2011/04/25/us-silver-history-idUSTRE73O13O20110425
Gold Confiscation: Could it Happen Again?
People who scoff at the suggestion that the government might restrict private gold ownership should remember that many other countries have restrictions on (or absolute prohibitions against) private gold ownership. They should also remember that, in 1933, Franklin Delano Roosevelt dealt with a monetary and banking crisis by confiscating all privately owned gold; paying for the gold at $20.67 per ounce; immediately devaluing the dollar by 40 percent; and setting the price of gold at $35.00 per ounce. At a single stroke, Roosevelt increased the government's gold assets, stabilized the monetary system and increased wholesale prices by more than 33 percent. However, he also inflicted losses of 40 percent on gold owners and stripped them of the gold that they saved to insure their financial futures.
http://www.blanchardonline.com/beru/confiscation_again.php
Sure is we now have a real monetary crisis world wide and if you want a world where money then in some form would be backed by gold well then what happened above sure could happen again.
By the way there are other ways in order to revalue an asset e.g. by introducing new trading limits and restrictions. In that regards the story about the Hunt brothers sure is worth while reading.
The Hunt Brothers Silver Corner
http://fskrealityguide.blogspot.com/2008/02/hunt-brothers-silver-corner.html
In the mean time more and more people are now waking up to the fact our current monetary and fianancial system simply isen't worth saving:
The loan sharks are now beating up a poor viktim as an example for all the others
http://intheendwerealldebt.blogspot.com/2012/02/loan-sharks-are-now-beating-up-poor.html
fredagen den 17:e februari 2012
Felix Zulauf on the European Debt Crisis−No Painless Way Out
Money Printing Going Global
Jim welcomes back Felix Zulauf, Founder and President at Zulauf Asset Management AG for another wide-ranging discussion. In the first of a two-part interview, Felix discusses the European debt crisis and believes the bailouts will be bigger than anticipated. He also sees money printing going global as central banks expand their balance sheets to equal or surpass the GDP of their respective countries.
http://www.financialsense.com/financial-sense-newshour/guest-expert/2012/02/10/felix-zulauf/the-european-debt-crisis-no-painless-way-out
Jim welcomes back Felix Zulauf, Founder and President at Zulauf Asset Management AG for another wide-ranging discussion. In the first of a two-part interview, Felix discusses the European debt crisis and believes the bailouts will be bigger than anticipated. He also sees money printing going global as central banks expand their balance sheets to equal or surpass the GDP of their respective countries.
http://www.financialsense.com/financial-sense-newshour/guest-expert/2012/02/10/felix-zulauf/the-european-debt-crisis-no-painless-way-out
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