Gary Christenson – Rather than discuss the triumph of experience over hope regarding hard money, honest politicians, and free market economics, let’s look at its opposite.
- The world has a massive debt problem, but we hope our politicians and bankers will solve it by creating even more debt.
- The U.S. will elect a president in 2016. We hope he or she will primarily represent the needs of the people, instead of the corporations that paid several billion dollars to elect their servant.
- We hope that economic and political central planning in the US, UK, and EU is more successful than it was in the USSR and North Korea.
- The F.A.S.B. in 2009 allowed banks to account for derivative values based on “mark to myth” instead of actual market values. We hope nothing goes wrong with $500+ Trillion in interest rate derivatives.
- We hope massively over-printed debt based fiat currencies will retain their value and not collapse, as all other fiat currencies have eventually collapsed.
- Unfunded U.S. pension liabilities are measured in the trillions of dollars but we hope the pension problems will be resolved better than in Puerto Rico, Ukraine, USSR, Venezuela, and Argentina. Continue reading