Our localized needs and welfare have become ever-more dependent upon hyper-integrated globalised supply-chains. One pillar of their system-wide functioning is monetary confidence and bank intermediation. Money in our economies is backed by debt and holds no intrinsic value; deflation and hyper-inflation risks will make monetary stability impossible to maintain. In addition, the banking system as a whole must become insolvent as their assets (loans) cannot be realised, they are also at risk from failing infrastructure.
A failure of this pillar will collapse world trade. Our 'local' globalised economies will fracture for there is virtually nothing produced in developed countries that can be considered truly indigenous. The more complex the systems and inputs we rely upon, the more globalised they are, and the more we are at risk from a complete systemic collapse.
SHOOT: Sobering isn't it. The way the whole shebang collapses is because money - fictional wealth and the source and destination of all our bullshitting - becomes as valuable as wishful thinking. When money is agreed to have no value, the entire system, and civilisation as we know it, ends. And a new phase, something different, more simpler, and tougher, begins.
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