Reinko

First Call of the Crisis: Peter Schiff Could Be Video of the Year

Ha! Very funny video.

But serious: When I started studying the US financial system in the spring of 2004 I became very worried.
And via my website I even tried to get to the central banks of the developing nations telling them what to do.

Of course they did not do it, but that is their problem and not mine...
If they have a few hundred of thousands extra deaths, this is their problem and not mine.

It was a long way, this study of the US financial system. You have to learn a whole lot about how the system works, from M1, M2 and M3 money, the central bank to the way options are priced.

Latest result from my study:

This week I calculated the year on year debt growth of the US financial sector for as long as the Federal Reserve has records on this (I do this a lot longer for the last 8 to 10 years).
The result was:

Year on year debt grow was 13%.

That is far beyond profit growth, GDP growth and so on.

Conclusion: What has been reported as 'profits' over the last decades was in fact new debt...

Seldom a nation has been so illusive about her wealth!