Quote:
Originally Posted by Tietäjä
Case Greece? It's done via having the population spend vastly more resources than they have on a consistent basis, and winding up in a situation where nobody believes they'll be able to repay the resources they've spent (see: Squanderville and Thriftville). I don't really see the link to Fed here, but I do see a strong link to overshooting optimism on one's current and future status (a bit of a Nassim Taleb -way of thinking). Historically speaking, this has happened with and without the invention of central banking, even the Romans managed to debase their currency. Their problem was similar to US's in the esque that they could not effectively expand to profit anymore (see: Stephen King and the talk about the end of imperialism and colonialism).
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I can see France for example having their credit rating lowered very soon.
http://www.bloomberg.com/news/2011-0...y-moody-s.html
How other countries have interlocking interests and if one starts to go there is other knock on effects.
I'll take the time to read those 2 books you have suggested ...It just isn't a casual read
