With the recession (or depression) already underway, many are looking for a scapegoat to blame for our woes. One scapegoat that has received some blame is "subprime lenders." If you know anything about Austrian economics, you'll know that monetary booms and busts are caused by none other than the private bank called the Federal Reserve. Perhaps if Ron Paul's idea of legalizing competing currencies was implemented, we wouldn't have this problem!
So don't blame subprime lenders, blame the government and the Federal Reserve. An exerpt from an article that explains:
"The United States may be standing at the brink of a catastrophic change in personal wealth for the entire population."
Scary stuff! Read the entire article
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