Consequences of Too Much Debt in Dubai are Signaling required long term Quantitative Easing IMO

A recent NY Times Article entitled: "Dubai Debt Woes Raise Fear of Wider Problem" This article points out that while Dubai in and of it self isn't large enough to singularly cause a real problem to the global financial system, that the occurrence may be perceived as systemic to all over leveraged nations and that the concentration of exposure to British Banks such as HSBC and Royal Bank of Scotland could cause secondary problems down the road.

To me the current financial dilemma in Dubai is continued evidence that there is the need for a lot more Quantitative Easing in the Global Central banking system and that we should be prepared to for it over time.

I continue to believe that the monetary authorities will vie for time and stability and then begin to implement some kind of global currency over a twenty year horizon. This means we should expect some very serious and ongoing efforts at inflation across multiple currencies. This is ultimately by design in my opinion.

This NY Times article is well worth the read in my opinion.   Never have the signals been flashing more clearly that this is a time to protect assets from debt induced devaluation of fiat.

Gold and Silver.  Always Money, Still Money.

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