Greg Hunter – Edward Griffin, author of “The Creature from Jekyll Island,” says the global monetary system is out of control. Griffin contends, “There is nothing that can be done about it. This thing is a runaway machine.  I would feel much better if these political figures would say hey, this is out of our control right now.  We need a substantial change in the system. . . . We need more honesty.  People have to stand up and say we are in for a tough time.  There is no easy way out of this.  We are in for a tough time.  Hang on to your seatbelts.  We are coming into the rapids now.  We need that kind of honesty, but we are not getting it because most of these guys and gals in Washington are thinking well, it’s going to be bad, but at least I’m in a good spot.  They are more worried about themselves and their families than they are worried about the nation.”

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What will the next financial calamity look like to the man on the street?

Griffin explains, “The main mechanism that people will feel most directly will be the loss of value or purchasing power for their currency.  The dollar will buy less and less and less as it has been doing, but it’s been sort of gradual and we get used to it. . . . When you look at the real cost of living, inflation is really pretty high now, but you haven’t seen anything yet compared to when the rest of the world does what it is now saying it is going to do.  They are going to stop using the Federal Reserve Note as the international reserve currency.  Continue reading →