Global Debt Bomb: From TNT now to Nuclear | McAlvany Commentary
This week:
-Gold up 9%, Silver up 12%, Gold Stock up 23% YTD
-U.S. destabilizing along with the rest of the world
-Trophy Headquarters portend a top in tech
Credit is credit, debt is debt, and slavery is slavery. One does not equate to the other. A debt is meaningless if it's not enforced. If I owe you X, I can simply not pay you. So long as you don't have the power to force me to pay or enter into serfdom, tough luck. If we all happily accept a system where debt leads to serfdom, then we deserve what we get. Regardless of your semantic preferences, the origin of money is a redeemable coupon for services yet to be rendered. This is called 'credit'.
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