Had been keeping close tab on the so called world financial crisis. Honestly there is no crisis. And what is really interesting is that the "crisis" can be easily resolved. The solution is really simple. The people only needs to differentiate between currency issuer and user.
There is no insolvency issue for currency issuer. Government of monetarily sovereign nations such as Brunei, USA, UK, Japan, Singapore and etc are currency issuer. They can create/print/credit money as much or as little they want! These governments have the abilities to do this since August 15, 1971. Since then monetarily sovereign nations do not need to earned revenue before they can spend.
Non monetarily sovereign nations such as Greece, Portugal, Italy, Germany, France and the other 12 notions on the euro zone are currency users. They use the Euro as their national currency. You and me are currency users of our government issued money. As a currency user there is always insolvency issue. They do not have the authority to create/print/credit money as much or as little they want. Currency users needs to earned the money first - through selling (export) or taking on debts, before they can spend.
I only wish that people understand this.
