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How precious metals will replace fiat money

By Implode-Explode Heavy Industries

``... it is increasingly clear there will be a global slump in business activity, as higher inflation kicks in and interest rates inevitably rise. Banks will face an escalation of bad debts as a result of higher interest rates that will eliminate much, if not all, of their remaining capital. Unfortunately, the abilities of governments to back-stop the banks are now very limited, because of the unprecedented deterioration in government finances since the first banking crisis.''

Full post as published by Mortgage Lender Implode-o-Meter on March 18, 2011 (boomark / email).