Quite a few countries are facing the sovereign debt crises. There may be no way out other than default in some countries.
Some argue that the U.S. banking system, if all loans were marked-to-market, is insolvent. Greece and Portugal along with other countries are on the verge of bankruptcy.
Global capitalism is so intertwined that some countries’ insolvency could have grave ripple effects worldwide.
Many countries are caught in a dollar trap. How long will the USD hold the reserve currency status? What would happen if the gulf countries dropped their dollar peg?
Ponzi international banking has affected many parts of the globe. It is well known that the GS has been involved with the Greek financial affairs.
Will reality ultimately have its way?
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