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Here are the four horses of the Economic Apocalypse.
The first horse is WalMart, which denies the profit margin motive. As a capitalist you make as much money as possible on every item you sell, Walmart has the opposite economic principle. They drive the profit out of the system.
The second horse is Greenspan/Bernanke and their no fault economy. There is no moral hazard, no moral advantage to saving money, because everyone is in the same boat.
The third horse is government spending. In a socialist system, anyone who creates a need, is equally important as anyone who fills that need. Prisoner and prison guard are moral equivalents. That is the third horse
The fourth horse is private money. The fault of the gold hoarders is that they believe that gold is money, personal money.They believe having gold is the same as having your own personal currency. When people lose faith in public money, they are not going to swap into personal money. Although the barter system was viable in the last Depression, the ruination of public money is only beginning to take hold of the public mind. The solution is not personal money. Repeat, only creating a sound public money, backed by gold, will repair the damage.
