myths, page-14

....'Today's system is predicated on the progressive conversion of nature into products, people into consumers, cultures into markets and time into money. We could perhaps extend that growth for a few more years by fracking, deep-sea oil drilling, deforestation, land grabs from indigenous people and so on, but only at a higher and higher cost to future generations. Sooner or later – hopefully sooner – we will have to transition towards a steady-state or degrowth economy.' (Charles Eisenstein, We can't grow ourselves out of debt, no matter what the Federal Reserve does)

But before we get there - the financial sector has to shrink, reduce leverage and localise.

Nassim Taleb discusses the problems with size and complexity in this speech about the theme of his latest book called - 'The Predictability of Unpredictability'



However - according to Deutsche's latest long term asset return report, quote:

'While economic history has been great in so far helping us understand the state of the world, many variables are now outside of any previous historical observations....all outcomes are possible and there is no pre-determined destiny. We are more reliant on our politicians and central bankers to manipulate and shape markets and returns than perhaps ever before.'

Menta,

You are advocating 'holding cash' i.e, holding currency. We agree. The reason for cash/currency is safety and liquidity. Safety that no government and central bank will be voluntarily default on its own currency. Currency may revalue = appreciate/depreciate against other 'things' but no 'reset' = no outright default.