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Monthly Archives: December 2011

Eurozone meltdown averted; real problem not recognized

As anticipated, the solution to the banking crisis in the eurozone is the printing of still more fiat money. However, this approach is not a solution at all but a temporary band-aid that will have to be reapplied again unless changes are made in the Europeans’ love affair with socialism. Changing that will be much more difficult than getting six central banks to create more fiat currencies.