TF, Gold backed is a subset of asset back currencies. I just used the broader term. As for their relevance today, the only currency still partially backed by an assets is the Swiss Franc, with is 40% gold backed.
As for the severity of the calamity, I'm asking about your vision of the severity less in terms of financial numbers (you commented on a possible $240 a barrel oil), but in terms of suffering. 10% unemployment? maybe 25%? Will inflation devalue the welfare checks to the point the underclass riots?
How does Republican control of both the House and Senate affect your timeline?
Are you assuming QE will not be reversed, an if it is, like I predict, how will that affect your model regarding the timing and severity of the calamity?
