Many of you know that Chris Martenson is one of the best analysts around. He will not tell you what stocks to buy or when to buy and sell. Chris’ unique skill is to critically analyze the longer-term trends. His vision is strategic rather than tactical. He provides a framework that all investors and Americans should understand. I think few will disagree with his analysis

His most recent piece, The Financial Crisis is Far From Over, is valuable as is virtually all of his work. His views generally coincide closely with mine. On currencies, he states:

… [What} I am is a gigantic, unrelenting, anti-fiat currency bug. Well, at least I am for mismanaged fiat currencies, but that pretty much encompasses them all but to varying degrees.

His take on the so-called European solution is that it is no solution:

… [It] seeks to ‘solve’ a debt problem by creating new debt.  Many people have come to the conclusion that this solves nothing and, worse, it exposes for all to see the Ponzi-like character of the modern debt-based money system.

While many look at Greece as some backward economic country that got in over its head, the fact of the matter is that

most of the rest of the developed world is in similar straits. … Greece is merely the poster child for what happens to a country at the end of a long period of living beyond its means. But it is by no means unique in having over-promised benefits to its citizens and now faces a toxic brew of poor growth prospects, enforced austerity, demographic pressures, and an enormous mismatch between what has been promised and what can be delivered.

The US and most other European countries are looking at the same fate as Greece. Somebody had to be first. Unfortunately for Greece, it was they. Other countries have more time, but not much more. Time is not an ally with the fiscal and monetary policies being practiced around the world. These policies cannot provide an escape:

The twin pillars of Keynesianism, official deficits and monetary inflation, are being tried on both sides of the pond but they are not working as they have in the past.  Debt saturation has sapped the ability of either policy to work and, because of this lack of traction, you can be sure that additional financial crises lurk in the shadows ready to pounce.

None of these countries, including the US can avoid the Greek outcome. The debt burdens are too large and compounding geometrically. Like Greece, we will suffer massive sovereign defaults (on social welfare promises and perhaps debt). There is no way out mathematically or economically without drastic reductions in government welfare programs and general spending.

Greece is learning this lesson now. The rest of us are not far behind.