En version av ENDGAME

• Banking crisis 2008-2012
• Central bank easing
• Bank regulation
• Commodity bubble starts to develop due to cheap money
• Western banks moving east due to tough western regulation fuelling commodity bubble further
• Commodity bubble leads inflation
• China inflation forces tightening, higher interest rates, appreciating currency, slowing economy
• Commodity bubble implodes on less demand from China
• Banks that bet on Asia lose
• Higher interest rates in wake of commodity inflation causes government debt bubbles in west to burst
• The banking system that in the regulation efforts of 2008-2012 was forced to rely on “safe” government debt instruments for liquidity once again face bankruptcy