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For a decent analysis of these issues I recommend Peter Schiff or the latest book by James Turk
on 25 October 2014
Mitch contends that the Crash of 2008 is likely to happen again, that the World esp the States has too much debt. I agree with both points. He also contends that this cake has been baking since 1980 and I roughly agree with that as well. However, it is why we came to this pass and the solutions he recommends which is where I disagree.
Mitch points the finger of blame at greedy bankers; he says regulators lack resources; politicians lack honesty. These may well be valid points to a small degree but this is very much a superficial analysis and completely misses the crux of the matter. Without banging on we are in this utter mess because money is no longer backed by precious metals since it was decoupled in 1971. This has allowed politicians to fund vast sprawling Welfare States which allow them to get re-elected. In addition, we have fractional reserve banking which allows every £1 of base money to become £10 by some weird magic employed by banks. These are the real underlying issues.
For a decent analysis of these issues I recommend Peter Schiff or the latest book by James Turk.
One last thing : I found this book a tad wordy, too general and somewhat repetitive.