As we digest the news in this modern era of real time social commentary, we see that all information is socialized. One must concede that the comments in our news-feeds are at least of equal interest as the articles they pertain to. We can take that for what it is, understanding the breadth of motives and sources. But humans are by nature influenced by herds (real or fake, for what it's worth).
What is clearly evident, is that debts still masquerade on balance sheets as assets - even as they continue their systemic expansion.
It does not take a quant to recognize that when debt expands (as fundamentals deteriorate) risk grows. Are the world's great masses so worthy as to support this growing "debt as wealth" premise? Certainly not in the spent-out consumer economies of the West. They save in debt if they save at all. But in the East, where the little people still hold wealth by tradition, there are tons of "asset wealth" to balance worldwide debt. Many financial pundits, even Kyle Bass, have been handed their hats on this miscalculation.
Currencies may burn, but they will always be reborn and rise again from the ashes. It is the debt they represent that must be dealt with. CONfidence in the repayment of debt is the very foundation of our chosen monetary and financial system - that system will not change in essence until we have evolved into something beyond what defines our nature as being "human".
In particular ... it is dollar debt that must be dealt with, since it is dollar debt that has expanded most magnificently all over our wondrous financial world. It is true that in Another's time, all currencies were tied to the dollar for value. And had the dollar been Baker Acted prior to 2016, the inferno would have been apocalyptic indeed.
But last year, emerging economies, rich in the true asset wealth of CB balance sheets, were granted membership in club Phoenix. Now (as foretold by Roacheforque years ago) their currencies are backed by a new exchange rate system which will gradually render our existing FX system a matter of declining relevance (like its dollar flagship).
Mr Fantasy cannot save the dollar from its fiat destiny. But he can save the world from total dollar destruction. This is the fork in the trail by which Roacheforque had departed from the Euro obsession. Yes the Euro (and it's member gold) will help, but it is a regional hybrid asset. The SDR is the global hybrid asset that ushers in the preferred multi-polar construct.
Welcome to 2018. Mr. Fantasy endures ...