P.S. This myopia is also related to why Armstrong's proposed solutions for Greece and the sovereign debt crisis in general are untenable at best, and even if they could be implemented they would be a horrible result for mainstreet over the long-term, because all his proposals involve the centralization of power. I have explained why in prior posts about them. For example, the only way Greece could survive a GrExit would be with the access to international markets, but the axis powers are complicit. As for the debt for equity swap Armstrong proposes (sovereign debt exchanged for corporate shares), I explained in the past that this requires that investors have a fungible valuation of disparate companies. The only way that proposal is workable is if it is basically transferring a basket of all public companies to a single entity that holds all the debt, i.e. the TPTB. It is just same FDR gold swindle in disguise all over again. I really think Armstrong works for TPTB. He is advocating a one-world currency reserve and world domination by TPTB. That is coming and inevitable, and our escape is the Knowledge Age and our own decentralized, scalable, anonymous cryptocurrency.