This is Ilargi's intro from today's post over at The Automatic Earth.
Derivatives expert Satyajit Das, in another excellent article, says the current economic order was built to fail. Not deliberately set up to do so, but set up in a way that made the downfall inevitable from the start. Das writes: "The ability to sustain high rates of economic growth, decreed by governments and central bankers, is questionable" , which seems a very kind way of phrasing the issue. Almost all of us can understand that perpetual growth of any kind, and in any system, is impossible. How to apply this principle, or even law, to financial matters is less obvious to many. Which is probably a logical consequence of the fact that our fiat money doesn’t represent anything of real value, and we are confused about what it does represent.
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