I am a big fan of Cenk Uygur and The Young Turks (TYT) web talk show. They avoid the partisan trap that ensnares most political shows and are willing to call out either side on their BS. In this latest video, Cenk discusses a Wall Street Journal article with details regarding how some of the most successful hedge fund managers are betting on the collapse of the United States economy and U.S. treasuries. They were right on their call to short Greece and the Euro, although some believe the investment banks helped perpetuate these issues. Regardless, if they are right about U.S. treasuries, it could lead to a global economic collapse unlike anything we have seen before. He lays blame on the banks, which is certainly due, but I believe that our politicians are equally to blame for bailing them out and creating the unsustainable debt.
Here is the original interview with Webster Tarpley on the Thom Hartmann radio show:
I wish that I could blow off the notion of a collapse in the U.S. economy, treasury bonds or the dollar, but all information points in this direction. The banks seem to be intent on going after targets with sovereign debt issues and the public is clueless as to these developments. As a barometer of economic uncertainty and potential for inflation, gold has also been confirming this potential. The metal hit a series of consecutive all-time highs this week.