Even if a fiat money system and credit bubble banking could work, in theory, everything the various governments are doing (and have been doing for years) in taking it all to an insane extreme means it will not work (i.e. survive) in practice.

This is the “joke” it is the establishment (not us) who are destroying their own system.

And, of course, taking everyone else down with them.

I have not yet read Schlichter’s book (although I have seen him speak – via the wonders of the internet), but I have read Thomas Woods’ book.

But like Peter S. (and so many others) the warning of Woods (about how NOT to respond to the crises of 2008 – itself caused by credit money expansion) has been ignored.

The establishment have (without knowing it) followed a line of policy which will bring down their own system

I know I have already typed that – but it is a fact that needs to be repeated (again and again) till (just possibly) it is understood by the general population.

Of course some of the rulers actually know all the above – for example Barack Obama knows it.

He understands (with his Marxist training over a period of decades) that Keynesianism can not really save the system – on the contrary that it will destroy it.

And that is exactly what it wants.

If the crash comes after November 2012, then he will use it as a excuse for “Emergency” measures.

And if it comes before November 2012?

Well then a Republican will win the election – but it will, most likely, be a Republican who has not got a clue what to do.

So the Comrades win anyway.

This is his reasoning – and it seems fairly sound to me (I only wish it was not).

As for Britain (and France and …..) all the little Keynesian politicians – with their faith in “keeping up demand”.

Oh God have mercy upon us, for the minds of our rulers are consumed by folly.

Trouble is …..