"You either cut spending or increase taxes, and there isn't...

"You either cut spending or increase taxes, and there isn't enough to cut to pay off the debt unless you want to transport society back to the Victorian Era."

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Historically it's a fiat reset and a return to the gold/silver standard, with a good bit of inflation thrown into the mix. What we're seeing in Europe is exactly this. Putin is demanding gold for Gas. Spending in Western Europe is being forced into reduction because 1) hydrocarbons are now expensive and; 2) hydrocarbons are the fluid part of the economy.

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While we're here, it's also worth accepting the unintended consequences of green ideology. Amazing how their quest for cosmic justice actually has the opposite effect.

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Coal will continue to rally alongside gold, albeit faster, while the western fiat falls.

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