''The Collapse of the Fiat System''

From National Interest

"It is not only the dollar that is losing substantial purchasing power. Every major central bank on the planet is creating their equivalent of trillions of dollars of new fiat money. The European Central Bank, under the control of “Super Mario” Draghi, is digitally printing euros and engaging in dollar-swap agreements with the U.S. Federal Reserve to fund the bailouts of the failing European states, including but not limited to Greece. China’s central bank, the Peoples Bank of China (PBOC), is printing yuan (aka renmibi) to exchange for the dollars that have flooded into China as a result of the enormous, chronic trade imbalance between the United States and China. Japan’s central bank, the Bank of Japan (BOJ), is printing yen to deflate the value of the Japanese currency so that Japan can continue to export that country’s wares. Even the Swiss have pegged their formerly “hard” currency to the euro, so as the euro declines in aggregate purchasing power, the Swiss franc loses its value as well."

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