The battle lines are being drawn between gold and fiat as the new global financial system draws nearer, by The Daily Economist.

The East is preparing for a return to some form of a gold standard while the West tries to hang on to a dying system of debt based fiat currency. And with the heads of the IMF and Bank of England both signalling that the world is well underway towards the transition to a new global financial system, the battle lines are being drawn as to which side will win out.

And:

For anyone who does even a modicum of research, the 2008 financial crash was not just a cyclical ‘bump’ in the credit cycle, but an actual death event for the entire financial system. And this is primarily why central banks like the Fed, ECB, and BOJ have had to constantly fund their ‘life support patient’ with endless amounts of QE, Zero percent Interest Rates, and even Negative Rates.

In fact despite the reality of tens of trillions of dollars printed and monetized by the central banks over the past seven years in both the U.S. and in Europe, most banks remain underfunded, and pretty much insolvent if they had to administer true accounting practices.