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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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posted on Jul 12, 2009 09:51PM

Here is an excerpt from a recent article by Bill Bonner on

www.lewrockwell.com

:

“While the private sector during the bubble years brought U.S. debts to a record 3.7 times the entire

nation’s output, now it’s the public sector that does the borrowing. The Obama Administration is adding

to the accumulated U.S. debt at a suicidal pace – four times faster than the record set just last year. And

America’s central bank hands the borrower a loaded pistol; it is adding bank reserves – which allow the

money supply to expand geometrically – at a 4,500% rate.

That last number is not a typo. It’s an alarm. If the Federal Reserve were a heart patient, the defibrillators

would be on already. If it were a normal bank, it would be closed down immediately.

But neither Karl Helferich nor Ben Bernanke set out to ruin their economies. Central bankers don’t do it

intentionally; they do it inevitably. Not because they want to, but because they have to. Like the Germans

in the ’20s, America has no politically acceptable way to pay her growing debts – except by printing more

money. And now, her leading intellectuals urge her on”

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