The credit growth since the end of the Gold Standard, along with consumer debt, and the wealth we've created in the last 40 years is based on credit, not on "good times."
The long trends are now a structural decline of the west, which could last 20-100 years, and the east will rise.
Gold will play a major role in the future because it will be part of a future reserve currency.-Egon von Greyerz: Hyperinflation Is Coming And Western Civilization Is About To Collapse
Thursday, August 19, 2010
Hyperinflation and the Coming Collapse of Western Civilization
Posted by Nick