Agreed fiat currencys are very much in trouble, and the too big to fail mantra, has enabled ludicrous risk taking on that presumption and that risk was deliberately distributed by the global marketplace meaning fundamentally that no place is unnaffected by this cancerous fiscal imprudence, and japans zombie economy now seems to be the increasingly entrenched model for most of the worlds developed economies adn governments, theres a fundamental problem of a lack of credibility in the monetary system and this isnt going to magically dissappear, people say thats its just a recession and some of the more cynical say its a depression.

I think it would be clearer to state that the current problem is more like the inflationary, low interest rate economic stimulus dogma of the last 60 years is now losing its traction to work in any sense to solve the current failing of the monetary system, the concept and philosophical possible belief in money has been so eroded by a class of “at all costs personal wealth seekers” who had the responsibility of looking after currency credibility, they have effectively hollowed out money from the inside by pumping out and proftably providing unheard of levels of debt through the creating of vast quantitys of digital debt, this attack on the meaning of money has led to vast speculative property booms and the hidden devaluing of money itself, as meaning that most currencys are probably worth a 3rd of their printed value by my calculations, and you may say where has this value gone, one way in which it has dissappeared is in debt growth and house price rises and pressure on resources due to a limited environment, here in the uk and in many countries around the world were beginning to see cultures where if your below 40 and dont currently own a house you are are becoming increasingly unlikely to ever own one without the bank of family or community help.

I worry about your suggestion that gold is the answer, because ultimately you cant eat it, and being that you work for RT and that the russian central banks are buying gold like nobody’s business, and in a true monetary collapse, unmortgaged land and housing is the ultimate asset as it can at east provide you with a survival.