The collapse of currencies and nations won’t happen overnight, because their demise has been planned, and a subtle collapse is in process. Our guess is that next year is when the collapse will finally take place followed by one of the greatest deflationary depressions of all time. During the last 2-1/2 years all the toxic investments have been and will continue to be transferred from the Illuminist banks, brokerage houses, insurance companies and transnational conglomerates to the public. The Federal Reserve is the repository for this junk, which includes Treasuries and Agencies. That means the public foots the bill. Every government and bank in the world will be affected.

Dominique Strauss-Kahn, the managing director of the IMF, restated his view that a new global currency might evolve out of the Special Drawing Right for the eventual replacement for the dollar. “In a globalised world there is no domestic solution,” he told a forum.