The Twilight of Irredeemable Debt by Antal E. Fekete
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http://www.augustreview.com/news_commentary/global_banking/the_twilight_of_irredeemable_debt_2008050890/
Type of Content: Article Thursday, 08 May 2008 | When Richard Nixon closed the gold redemption window on August 14, 1971, redeemable debt gave way to irredeemable debt. This watershed event set the stage for the global financial chaos being experienced today. Here's why... Read »
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I commend for additional reading Bad Money and American Theocracy, both by Kevin Phillips. It was American Theocracy that finally broke through to me and got me alarmed about the debt crisis - not only public debt, but corporate and personal debt as well. The perils are enormous. Also worth reading is Empire of Debt by William Bonner and Addison Wiggon.