Advocates of monetary reform will argue that the current path will likely cause irreperable damage, as well. We simply ask: do we do it now, why we still have some control over the system, and time to implement it. Or do we wait until it's to late, until hyperinflation sets in, where the change is forced upon us, and we will have little control, and no time to adjust.

The financial system collapsed in 2008. Where were you? The only reason the banks are still around is because  Governments basically took on a load of the banks' debts (while this may or may not be exactly what happened from a technical stand point, from the outside it's basically what it looks like - Government gave over lots of money to pay for other debts, and in doing so, created more debt for themselves). What happens when the Governments start failing to pay back their debts? Who's going to bail them out?

We've already seen the beginning of one country failing to make its debt payments - Greece. The response, thus far, has been that other Governments have basically taken on the debt. This has meant that those countries have more debt, and thus are less likely to pay it out - France are being threatened with a ratings cut after all this Greece talk. Italy is next inline, after Greece. Then Portugal, then possibly Spain. If they haven't already collapsed themselves, France and Germany will NOT be able to take on all this debt. Something will have to give. And when one does finally fall, the others will all collapse almost immediately after.

It's not so much the Banking system that will collapse as sovereign countries will under their huge ass debt.

Which actually could happen in 2011, what with how friggin dumb the greeks are being.

Which will lead to the baking system collapsing, as most banks hold huge quantities of Government debt which will suddenly become worthless (or, take a massive value hit).

There will always be those that benefit.

I wouldn't say most banks, so much as the big ones.... and the more responsible countries, like Germany or even the United States should be able to insolate their banks.

Probably not France though... france is actually pretty sneakily in the same boat as Spain/Italy etc, they just hide it pretty well.

Really what needs to happen is all these big banks need to fail and be replaced by smaller banks, who are usually more adventurerous in smaller loans like buisness loans and less adventurous to "can kill us" loans.

Since there is no "too big to fail" for them.

There's the fun of democracy, because everytime you have calls for necessary fiscal reform in Greece, you just get riots. The Greeks aren't going to dig themselves out of the hole willingly

The big ones will obviously hold a lot of Government debt, but they're not isolated. Also, banks are reliant on other banks for inter-bank lending. If a few of the large ones hit a snag, then it will effect the others. Only a couple of banks were involved in the sub-prime mortgage market, but its effects rippled through the entire system.

Not in the next 30-40 years.
The most powerfull people in the world have the resources to maintain their power at least for a few decades. More than that I can't say.

When i said collapse i ment a complete collapse no bail outs nothing that simple can't happen

and where was i? loosing my fucking job thats where i was