Lloyd's of London preparing for euro collapse

[Psephos]

14. There is no way to prevent its collapse.

A true bailout would require actual hard money, backed by tangible assets, not this fake fiat stuff that the Treasury and Fed concoct from thin air by pushing buttons on their keyboards. The European Central Bank does the same thing.

You and I work for money - it's backed by our sweat and responsibility. Their money (like that of all fiat currency governments) is backed by nothing except IOUs that people of the future have been drafted to pay. It's the ultimate form of theft.

The Euro collapse is due to a long run of spending in the present financed by using the future's money. There is no instance in world history where fiat currency-financed deficit economies did not eventually produce a debt bubble followed by a currency collapse. The current fiasco will not be the end of the world, but it will be the end of fake money and debt-driven consumerism. For that I will be thankful. For the rest of the grief and chaos, I will not.