Good calls Chem.
Lurking in the background (non debt related crisis) is (IMO) the "currency wars" I've been watching develop.
It's going to get nasty with unintended consequences.
In fact, I hope there is a poster who sees this developing and discusses it.It will impact PMs.
But it's not clear to anyone yet how it will play out.
I have my own suspicians and plans.
There'll be money to make (and lose) depending on which side of which trade we're on.
For example, I expect emerging markets to weaken their currency against the currency of trading partners to gain advantages and it will also bolster their markets.
But, we have also been watching the US play this game against China.
Now we are seeing Japan as they learned and are starting to play hardball.
Amazing how the dollar steadily was weakening until other countries figured out the game.
But, eventually, one consequence will be hyper inflation, or worse, stagflation.
If stagflation ensues, many will lose........