Armstrong Economics: Entering Phase II of The Debt Crisis

[CrackSmokeRepublican]

Armstrong sees European countries all going broke and then the USA .... The CSR

His hand written note from his prison cell:

http://www.martinarmstrong.org/files/Ar ... e-Hole.pdf

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Armstrong Economics: Entering Phase II of The Debt Crisis

Chopshop's picture
Submitted by Chopshop on 03/20/2010 04:48 -0500


In succinct synopsis of what lays just over the horizon ~ "the cycle of economic implosion" ~ for the ill-conceived amalgam known *today* as the European Union, phinance's phavorite political prisoner, Martin Armstrong, cautions that:

    -  "the EU is in dire position", on the precipice of shattering into default and civil unrest;

    -  the sovereign debt crisis materializing across Europe will soon reach US shores;

    -  the CFTC will curtail currency speculation by slashing leverage from 100:1 to 10:1, which "can cause a liquidity crisis that backfires, magnifying everything."

 

Since "debts will never be paid and interest expenditures are the greatest transfer of wealth in history", Armstrong suggests:

    -  freezing all national debt;

    -  issuing coupons whereby the debt is redeemable for local currency, which may then be invested in domestic debt or equity;

    -  each European nation establish an independent currency pegged to the Euro;

    -  swapping US debt to coupons that may be spent domestically.

 

Seeking to impart light from within the dark seclusion of maximum security solitary confinement, Armstrong concludes his (relatively minuscule by Armstrong standards) missive with stern warning.

    " Western society is falling apart .... If we do not act, civil unrest will explode.  The current choice is DEFAULT or HIGHER TAXES & CIVIL UNREST .... Someone has to step forward to save us or we may be doomed.  It's time to wake up for this is the future of our children and their children at stake. "

http://www.zerohedge.com/article/armstr ... t-crisis-0