The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund, a U.S. official told Reuters on Wednesday.
Folks, this new money can only come from one place–the same place that the Big O’s Stimulus flows from–the magic creation of “money” by the US Treasury–otherwise know as “Crank up those presses, boys!” It’s creation will add to the inflation pressures already building. (Calculated as it was in 1980, it’s already running around 8-9%.)
Barring changes in how the economies of the world are run, we are heading for Bad Things. Time to get ready for them is running out. Don’t let it run out on you.