The ‘gold bugs’ assert that at all times and in all circumstances gold remains money. For some irrational reason the ‘paper bugs’ cling to their increasingly worthless colored coupons asserting their importance as currency.
The Great Credit Contraction has begun and in the macro sense there is no practical solution to the end of the current worldwide monetary system. But in the micro sense the individuals and companies that will survive, thrive and prosper will be those that are liquid. It will be those who can make payroll.
