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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (33533)	12/15/2010 8:02:16 PM
From: John	Read Replies (2) \| Respond to of 71456

Looking into what chaos will look like for the financial markets, the elephant in the room is the Euro. The only way it survives in any form is if countries start defaulting. A couple of thoughts... First, if the Euro is the elephant in the room, what is the global debt?!?! Second, imagine if the global financial leaders and governments got together and issued the following statement: "Global citizens... Our planet is mired in a very deep financial crisis with no foreseeable solutions. Debt is crushing growth prospects worldwide and will only become worse over time. Therefore, by the power vested in us by ourselves, we are effectively erasing all global debt! Henceforth, as of this moment, no one and no entity on Earth owes any money. All debts are officially forgiven. Now, go forward, spend, and use your credit wisely this time! Peace be with you and yours." Now, how long would it take humanity to revert back to exactly the same predicament it is in now? The moral of the story: The debt itself is not the real issue. The real issue is the root causes of the debt. This will end very badly.