The big question is whether the explosion of the bond bubble leads to deflation or inflation. My guess is inflation. Inflation benefits borrowers, since debt can be repaid with worth-less fiat money - and the sovereigns are the biggest debtors of all. The re-set will come, but no way to know when. The current system to stay in place until it can't any more, and the hands of central banks are forced. I'd like to hear more about your reactions to Jim Rickard's books.