Central Banks are the equivalent of the Central Planning Committees of the old USSR and present-day China. They specialise in distorting markets such that sane investing is disincentivized and speculations leading to capital destruction are incentivized.
Anger against central banks is rising, and spreading, and rightly so. But they operated with the connivance of governments. Governments have, for decades, used central banks to juice the economy in order to buy votes. In doing so, they were creating a debt that could never be paid. That was always a problem for the future – for someone else to cope with. And that was also the attitude of the electorates that placed them in power. So, ultimately, the finger is pointed at voters – ourselves. That is a damning indictment of democracy, but that is another story.
Well, now that future has arrived.
The debt, and the irredeemable fiat debt notes that represent it, are on the verge of collapse. That much is certain, but no one can predict with certainty what it will mean. At the very least, it will cause decades of deprivation, including widespread starvation.
The collapse of the debt will either dramatically reset our civilization or, more likely, collapse it. The only possible salvation is the rapid introduction of circulating Gold in parallel with fiat currencies so that the world has a fall-back position.