Then comes Evans-Pritchard's solution. After noting the inefficacy of the massive bailouts in preventing disasters globally, including the fact that sovereign debt crises are nearing the "boiling point" in half the world economy (according to the BIS), he puts it plainly: "The only plausible escape route for the West is a decade of fiscal austerity offset by helicopter drops of printed money, for as long as it takes."
Gee, I seem to remember the Geithner said this wasn't going to happen. But we've got to save the economy, even if it kills us. Before long, I imagine that their cut-outs be telling us that paper money is inherently risky because bankers can inflate it, and that we've got to replace it with something tangible, which of course could only be gold. "What's that you say - a physical economy? Never heard of it."