French Economist Warns of "Worldwide Weimar"
Remember the German Weimar republic? The place where it took a wheelbarrow full of paper money to buy a loaf of bread? (via Bloomberg)…
Imagine a country so ravaged by inflation that $1 will buy you 630 billion in the local currency, where a loaf of bread costs tens of billions, and where wheelbarrows are the new wallets.
That was the Weimar Republic in November 1923. A similar prospect may now await the world economy, says French economist Jacques Attali in “La Crise, et Apres?†(“The Crisis, and Then?â€,null,null,null), a stinging new critique of the financial meltdown.
…Attali is a French economist with experience as a special adviser to French President Francois Mitterand and he was the head of the European Bank for Reconstruction and Development…
Nayeri: What do you mean, exactly, by “Weimar�
Attali: Depression, unemployment and inflation. What happens if the markets don’t finance the governments? The governments will finance themselves by creating money. This is a clear recipe for inflation — both depression and inflation.
…while he puts the odds of this happening at 10 percent, he says he also put the odds of nationalizing AIG or RBS at only 10 percent.
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).