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March 18 (Bloomberg) -- Greek Prime Minister George Papandreou set a one-week deadline for the European Union to craft a financial aid mechanism for Greece, challenging Germany to give up its doubts about a rescue package.

Yet more rape and pillaging of US taxpayers as Portugal now plans to join the long and exalted list of nearly bankrupt countries who wish to join the dollar devaluation bandwagon, and issue debt denominated in dollars. The P in PIIGS is in the same position as the US, needing to plug a massive budget deficit, so it has decided to do what the US does so well - issue bonds with a $ sign on them.

No default, no need of loan, no need of bailout, kill the speculators, ok G-Pap we got ya. Oh yeah, and no bail out. Three months into the crisis and nothing has changed... except the impending maturities of $50+ billion in Greek bondsin 2010.

"US Rates Will Stay at Zero". Money-printing is just another way for governments to silently default on their debt". "I think we already have now a gold standard… created by the market place," Marc Faber, editor and publisher of the 'Gloom, Boom & Doom Report,' said Thursday.

The truth is that the financial system that we have created makes inflation inevitable. The U.S. dollar has lost more than 95 percent of the value that it had when the Federal Reserve was created. During this decade the value of the dollar will decline a whole lot more. That doesn't sound like a very good investment. But that is what happens when you give bankers power to make money up out of thin air. And things are only going to get worse. Especially if Bernanke gets his way and reserve requirements are eliminated entirely. The U.S. economy is a giant mess already, and we have got a guy at the controls who simply does not have a clue. It's going to be a rough ride.