World money (WM) = National currency (N1)+ N2+ N3+ N4+.....................All central banks are printing more and more and this is exceptionally true for last six years. In this period, the world money has more than doubled which means that more money is actually pursuing less goods and services. At present, this is not fully visible across national markets because banks are keeping interests deliberately low across the developed economies and markets are very deficient in demand. There is no way bankers would accept any restraint on their power. The fiscal and monetary elites are hand-in-gloves with each other. Raghuram Rajan is crying for this non-system to end but nobody is listening. He may even meet much worse treatment at the hands of next government for taking this stand. This all is making the world move towards a monetary apocalypse- a world with high inflation, high rate of fluctuation of exchange rates and a total unpredictability of business decisions. This may lead to crumbling of welfare-state structures across many countries. The crux of the problem remains that we need to move from singular arbitrary monetary control to plural monetary control with gold-silver backed restraints. This is something that all elites would refuse till the last moment. All other solutions would only increase the arbitrary nature of money-printing or quantitative easing.
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