Panch Tattva Wisdom

The crux of the matter is this: for over a century, people saved money for their future needs, and governments borrowed those savings by promising eventual repayment. That borrowed money was meant for public welfare and infrastructure, but much of it was misallocated or wasted. People trusted the repayment capacity of governments and central banks because of their taxing authority.

In reality, the money squandered was the money of ordinary savers and lenders, and eventually they—or their inheritors—will bear the consequences. There is no point in lamenting it now. One must simply be prepared for the entire economic complexity to unwind, because wisdom cannot retroactively change what has already occurred.