Kevin_Kennedy
Defend Liberty
- Aug 27, 2008
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For a few fleeting, horrifying moments this past week the fault lines that underlie the global economic crisis erupted into plain view. With deft and quick effort leaders in Washington, Europe and Asia papered over the fissures and fears largely subsided. But the shock of plain truths which resulted in violent currency movements are the latest reminder that the 21st century economic order will bear little resemblance to the world we now know.
The tremors began in Beijing, where an essay from the governor of the Peoples Bank of China seemed to favor the creation of an IMF currency to replace the U.S. dollar as the worlds reserve. In Europe, the rotating president of the European Union, outgoing Czech Prime Minister Mirek Topolanek, characterized Americas plan to combat the widening global recession as the road to hell. At same time, British Member of the European Parliament Daniel Hannan made headlines the world over with his stinging rebuke of the inflationary and debt-focused policies of the current UK government.
Peering into the Abyss by Peter Schiff