Monday, June 02, 2008

Kurt Cobb, The end of money?

The end of money?
What could wreck the world's currencies is a desire to offset the effects of the ever-tightening noose of resource scarcity caused by the approach of peak oil, the march of climate change, and the rapid industrialization of the Far East. The desire to offset these effects is already expressing itself through easy money policies and the financing of government expenditures through borrowing rather than taxation.


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