Via Jesse's Cafe Americain: Meet Your New Global Currency
The full article is recommended in its entirety, as is the site in general for daily reading. Jesse knocks them out of the park every time.
But this - THIS! - got me:
The Americans no longer have the means to save themselves, this is what I think people don't understand. There is no credible American policy," said Wolf. (The American policy has been to maintain the status quo and to confiscate wealth by exporting fraud in amounts that are beyond all reason. This is hardly acceptable to the rest of the world. It is remarkable how few US economists understand this for what it is. Are they so abysmally ignorant by choice or by training? Sometimes it is hard to tell. What can one expect from a group that could not acknowledge the enormous bubbles that have rocked their economy in the past ten years until the damage was done. They are as reprehensible as the doctors who helped to promulgate the psychiatric abuses in the gulag of the former Soviet Union. - Jesse)
We are screwed, my dears, and hard. This is where being clever comes in. Knowing we're screwed, you have two options. Grease up before you bend over or bend over and hope for the best.
I'll be polishing bullion on my ass if anyone needs me...