“A super bank run by super economists? How long would it take for them to blow up the whole world’s financial system? But don’t worry about it. The system will blow up anyway. No paper money system has ever survived a full credit cycle. That – and not a lack of international monetary reform – is why there are so many bubbles now. When interest rates are falling – often pushed to artificially low levels…and held there for an extremely long time – credit expands and the burden of debt formerly http://www.equitymaster.com/dailyreckoning/detail.asp?date=10/28/2011&story=8&title=Can-outcome-of-higher-debt-be-avoided%20grows. That has been happening for the last 3 decades. And now, the whole economy depends on something that can’t possibly continue. Debt can’t grow forever.”
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