Global central banks have been pushing inflationism to the limits.
Unless curtailed, the ultimate result will be massive cascading debt defaults across the world that leads to deflation or to hyperinflaton or the terminal phase of today's paper money standard or to a combo of run-away inflation amidst defaults.
I call this the Mises Moment. From the admonitions of the great Austrian economist Ludwig von Mises:
But the boom cannot continue indefinitely. There are two alternatives. Either the banks continue the credit expansion without restriction and thus cause constantly mounting price increases and an ever-growing orgy of speculation, which, as in all other cases of unlimited inflation, ends in a “crack-up boom” and in a collapse of the money and credit system. Or the banks stop before this point is reached, voluntarily renounce further credit expansion and thus bring about the crisis. The depression follows in both instances.
(hat tip Zero Hedge)
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