The Madrid Airport is closed, stranding thousands of airline passengers as an air traffic controller strike forces Spain to declare a ‘State of Alert’. Deputy Prime Minister Alfredo Perez Rubalcaba said that the controllers called in sick en masse, shutting down air travel for the Iberian Peninsula. The wildcat strike is just the latest of a series of strikes and protests against government austerity measures. For decades, wages and benefits have steadily risen for public-sector employees all across the European Union. A typical air traffic controller in Spain earns $200,000 per year. Even with high taxes, the governments of the Euro Zone, and America, cannot afford such expenses.

MADRID, SPAIN - SEPTEMBER 29: Protesters walk with banners and flags as they demonstrate at the end of a nationwide general strike day on September 29, 2010 in Madrid, Spain. The general strike is staged by Spanish workers to protest against the austerity measures imposed by the Spanish government. (Photo by Jasper Juinen/Getty Images)

We are seeing this pattern repeat itself again and again. Some communities, like Bell, California, were paying their town managers salaries topping a $500,000 a year, with fat pensions and benefits to boot. School districts are paying some teachers and administrators salaries well above what even our Congressmen earn, $174,000 a year. In Greece, as with many other European nations, public service employees could retire before the age of 60 and receive nearly 90% of their inflated pay.

The simple fact is that our fiat monetary system is broke. Actually, it was a fraud from Day One. A cruel game of economic enslavement played on the citizens by governments and their confederates in the banking industry. As the piles of sovereign debt increased, banks encouraged, or suckered, governments like Greece to ‘invest’ in mortgage-backed securities and derivatives. But we now know just how much value those financial instruments truly have, ZERO!

So now governments, like the UK, Greece, and Spain, are attempting to keep the game afloat, combining austerity measures and adding even more fiat currency to bail themselves out. But, it just is no going to work. Despite efforts to shore up the Euro Zone, the International Monetary Fund has a big problem, they are stuck using US dollars as the global reserve currency. Dollars that are growing weaker and weaker as the Federal Reserve prints more and more. Russia and China have stopped using dollars to pay each other, and other nations are also doing likewise.

While thousands of air line passengers are stranded in the Iberian Peninsula thanks to the wildcat air traffic controller strike in Spain, the Madrid Airport is closed. Deputy Prime Minister Alfredo Perez Rubalcaba said that the controllers called in sick en masse, forcing Spain to declare a ‘State of Alert’. The air traffic controllers, like other public service employees, are upset over government austerity measures taken due to the sovereign debt crisis in the European Union. But the real problem for the Euro Zone, America and the rest of the world, is the collapse of the fiat monetary system. Until this is addressed, the situation will continue to decline.

45541, MADRID, SPAIN - Wednesday September 29, 2010. Several hundred people take to the streets of Madrid to protest against government austerity measures, which include job cuts, higher taxes and smaller pensions. Spain's first general strike in eight years, protestors were seen marching in the streets causing a disruption in traffic and the closure of many businesses. Public transportation ground to a halt and an estimated two-thirds of all flights to and from Spanish airports were disrupted. Other protests have been held in Belgium, Greece, Italy, the Irish Republic and Latvia.  Photograph:  PacificCoastNews.com

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