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“However, there must be first severe economic pain before we get the change. What people do not grasp is the extent of bad loans outside the USA that amounts to massive capital destruction (deflation). ”
Comment:
First of all the entire system has already gone thru a lot of pain for decades.
I think the guy is WRONG. The entire system imo is trying to right itself. In Reverse from decades of distorted values.
Oil and diesel fuel is supposed to be cheap like firewood. Not so expensive like these days. Gold is supposed to have a lot of buying power. These days it still does not have a lot of buying power.