A Return To Financial Sanity?

Financial sanity and stability may not return, but we can protect our assets and learn from the discussion.

The Dow, S&P 500, Nasdaq and other markets sell at all-time highs. However, many imbalances exist within our financial world.

This is not new – things have been crazy before, are now, and will be again. But to regain financial sanity we need:

From “Doug Casey on the New Fed Chair”

“In an ideal world, there would be some radical changes. The best thing for the US in the (famous) long run is to go “cold turkey.” To abolish the Federal Reserve, fire its thousands of employees with their worthless PhDs. Return to 100% reserve banking with a strict separation of demand and time deposits. Depoliticize money by using gold, not Federal Reserve Notes. And default on the national debt, which is rewarding crony capitalists, and will turn future generations of Americans into serfs. And massively deregulate. And abolish the income tax, while cutting spending 90%. Etc. Etc.

The chances of that happening are exactly zero.”

It’s easy to see there is no chance for a return to financial sanity as defined by Casey.

Doug Casey is not alone in his assessment of the self-created problems in our current financial system. Alasdair Macleod in “Deflation Must Be Embraced” defines what he calls “the minimum policy changes required to escape from the credit-fueled merry-go-round that will end up destroying us all.”

CHOICES AND CHANGES

The choices are: continue the insanity and hope to survive the next election/crash/war/disaster or contemplate the abyss. Macleod’s eleven point plan for change is: