In the late middle ages, currency debasement began to erode the banking system. Local business used silver alloy coins, but international trade required untampered gold (e.g. the Florin). Many banks did not survive this period, since they were required to take debased silver currency at par, and pay their debts in gold. Looks like we are heading down this path again.
No mention of interest rates , if we have inflation which equates to the level of monetary policy for the last 10 months how will they keep this from getting away , well what would they do in a normal World , raise interest rates to reduce borrowing so less spending = less demand , the problem here is World debt , future funding of current and new debt , could you imagine what a 2 percentage point increase would do , Hard to say what this article was actually about .
In the late middle ages, currency debasement began to erode the banking system. Local business used silver alloy coins, but international trade required untampered gold (e.g. the Florin). Many banks did not survive this period, since they were required to take debased silver currency at par, and pay their debts in gold. Looks like we are heading down this path again.
No mention of interest rates , if we have inflation which equates to the level of monetary policy for the last 10 months how will they keep this from getting away , well what would they do in a normal World , raise interest rates to reduce borrowing so less spending = less demand , the problem here is World debt , future funding of current and new debt , could you imagine what a 2 percentage point increase would do , Hard to say what this article was actually about .