The Imminent Dollar Collapse, Explained To An 8-Year-Old. It’s the elephant in the room. The United States is utterly bankrupt and has been living off of borrowed money since 1971, when it defaulted on its loans — though of course, it wasn’t worded like that. Not even an income tax of 100% is enough to cover the expenses, and the US is about to go the way of the Soviet Union. [Falkvinge on Infopolicy]
I came across this nice simplified explanation of the current state of the US Dollar a while back. It was originally written in Swedish, so it doesn’t have the “Amerika über alles” viewpoint that pretty much anything written in the US does. I thought it was relevant today given the current fuss in the mainstream media about whether the government will have to “default” if they can’t borrow yet more money.
Leave a Reply