by Dr. Jeffrey Lewis, Silver-coin-investor:
World financial markets are poised for a major phase transition. We are witnessing a bubble trifecta where a bubble in bonds, equities, and housing are beginning inflate beyond sustainability, which poses a very real threat to what is left of the real economy. Add to this that the underlying unit of measure is a currency backed by debt and politics.
In his best-selling book “Currency Wars”, James Rickards describes the type of transition into which we are headed.
According to Rickards, the system must be in a critical state to experience a phase transition. “This means that the agents in the system are assembled in such a way that the actions of one trigger the actions of another until the whole system changes radically. A good example of a phase transition in a critical state system is an avalanche.”
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