This sucker could go down

It seems that George Bush has more insight than I thought after making this comment last week.

Alan Greenspan wrote a now famous research article on how the monetary system risked collapse if it wasn't fully backed by Gold. This was in the 70's shortly after the collapse of the Bretton Woods agreement, and it seems that the old adage applies - that for one to truly believe in something - in this case the Fiat Monetary system - you have to not believe in it first.

My bet is that Alan Greenspan has a substantial chunk of his savings in Gold Bullion.

A return to the Gold standard is highly unlikely - but the Chinese central bank might have different ideas for the Yuan in the way it decides to allocate its reserves.

There have been a small number high profile people that have repeatedly  warned us of the flawed nature of the Fractional banking and Fiat monetary systems. But they have always been dismissed as loony conspiracy theories by all the head honchos in the Banks and governements.

But it seems that these so called conspiracy theory predictions are coming true, and that in fact the powers that be have been obfuscating the truth about the inner workings of the banking system.

The public is beginning to think that they have repeatedly being lied to about the banking system by everyone at the top. 

I think I would find the Argintinian finance minister in the lead up to the 2002 devaluation more believable than some western counterparties right at this moment.

Some people are making themselves look very silly.