[quote="daytradingES"]I was thinking about the question what is next.
from Deutsche bank Jim Reid via ZH this morning
http://www.zerohedge.com/news/2017-11-0 ... fiat-money
Every fiat currency in history has eventually ended at zero. But most hard metal currencies have been destroyed by government mandate as well, Gresham's Law from the Tudor years.
As long as the sovereign can confiscate (or tax) assets without killing the domestic economy and as long as those with surplus money will lend to the sovereign everything else is just details. How bad can it get, well look at Argentina and Detroit, they are still standing and life goes on.
Listen to some of the Richard Koo interviews, his analysis of the situation as a debt binge causing a balance sheet depression makes sense, and of course the main stream keeps assuming it tis the run of the mill central bank caused slow down so they don't really see the problem.
In plain english most of the pundits as well as the so called experts only have a hammer(post war US economy) in their toolbox, so of course they keep seeing a screw as some kind of nail.
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