History repeats itself - scary

[draggar]

I was once sent an email that described what brought around the (financial) collapse of the Roman empire and a lot of it is eerily echoing what is happening today.

I need to find that email and post it, hopefully some people who make decisions are up on their history.

[Donald Aquilano]

The Roman Empire fell more so because of social collapse than a financial one. Your are right though America is headed that way in the not to distant future if we don't change are ways.

[draggar]

It's not just the US, it's many large countries that are facing a financial collapse.

Many countries took the European banking style (look up "Money As Debt") instead of basing it on something real (like gold, precious metals, infrastructures) but based the amount of money (a.k.a. credit) available by demand.

[ARMG]

Yea the monetary system we got right now "The post-Bretton Woods" system in which debt (future prosperity) serves as cover was doomed to fail from day one.

On the other side without this system we all would share less prosperity. Conclusion with this monetary system our Ups are higher but unfortunately our Downs are way deeper as well...