"Printing money doesn't mean anything. Money is only a promise to expend energy, and if there's no energy the money becomes valueless. And the World is past Peak Oil. We've past Peak Food. We've past Peak Coal. You can print all the money you want, but it won't put any more energy out there to feed the system.
That way of life -- that governmental system -- is dead. It's over. It is looking very clear now that the US government is -- and I'm talking Democrats and Republican here -- doing a Theater, and they have every intention of defaulting on August 2nd. Which will absolutely collapse the global economy, for many reasons. And that means Active Duty Military won't get paid. That means Social Security Checks don't go out. That means all the businesses who have government contracts won't be able to pay their employees. It means matching grants to states won't go out. All of the markets collapse."
Click on the link right to listen to the whole interview: MCR today (7/7/11) on KZXY, Mendocino County Public Radio.
or if you are having problems listen to this version here...