With the European sovereign debt crisis threatening to dissolve the Eurozone and the US with record budget and trade deficits the world is facing a monetary crisis.

Central to the sovereign debt, housing and financial derivatives bubbles has been the provision of cheap and abundant credit. Money that has been simply manufactured from the keyboards or printing presses of Central bankers. As long as the financial system allows the effective counterfeiting of paper currency to meet ever increasing central spending – inflation and instability will ensue.