There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.Ludwig von Mises.
That's why I'm looking for another currency. I like the Polish government but worry that these smaller economies will be at the mercy of global capital movements. Any other ideas?
4 comments:
Debt for equity swaps.
Gold
Yeah I was going to say gold as well.
Having a long term stable, sensible and uncorrupt governing and economic system would be worth it's weight in gold.
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