|A Sage of Old|
Credibility is akin to blind trust; trust underpinned by an aggregate and mutual understanding of a cooperative equilibrium which would be otherwise undermined without the conditions in place. As it is with our fragile financial system, trust has become a word of caution and rarity. With the lack of trust between borrowers and lenders, and third parties, we are in a state of unconquerable demise of Post Bretton Woods.
What was Post Bretton Woods? A period of unprecedented prosperity , in main between 1992 and 2007, determined by financial rather than real forces. Lacking the significant advances in macro inventions, much of society succumbed to the petty innovations in high-end finance that read most into an unsustainable real asset boom in many of the economies in the advanced world.