Via The second crisis of socialism:
The world is facing the worst financial crisis since at least the 1930s “if not ever,” the Governor of the Bank of England said last week when he explained to an increasingly sceptical and weary public the Bank’s decision to print yet more fiat money and use it to buy yet more government bonds. I doubt that his words or his actions will do much to restore confidence. And they will not mean an end to this crisis.
Detlev spoke today to Parliament’s APPG on Economics, Money and Banking, setting out his case that the inflationary monetary system which has existed since the end of Bretton Woods in 1971 is now collapsing. I founded the APPG to bring all relevant points of debate into Parliament: Detlev certainly achieved that, delivering a stern warning against complacency in this crisis.
I found Detlev Schlichter excellent today, clear and concise, not overblown in anyway, and not offering up any pipe dream solutions. That’s probably why he left us all so gloomy afterwards!