The Dead Fiat

The Yen is done.  It is no longer a currencie.  If you voted for the Yen in my first poll, congratulations, you win!  So besides the obvious problems, there is no more carry trade.  Well, I suppose the dollar is the carry, but the dollar is not reliable.  At least I do not think so.  I think that in this environment, when the carry trade is supposed to be the most liquid way of trading, gold reigns supreme.  The electronic changes will have to digest this, but if a fiat currency falls off its horse, the whole army is vulnerable to the same.  And if fiat is mortal, then it can all die.