Tilting at Windmills

Indeed, I believe you are quite right to abjure this delusory modern day jousting at windmills by the environauts. However, the solution to the current deleveraging of the multi-trillion dollar speculative derivatives bubble is neither neo-Keysnianism nor gold bug/Ron Paul phantasmagoria. Both of these mindsets hold that wealth is a material "thing." Either money for the Keynesian monetarist or some quantity of gold for the anti National Bank Jacksonian populists. These are just two sides of the same coin. The crisis we have now to overcome is due to the abandonment of the funding of our physical economy. It has broken down. Trying to save the bubble of speculation is like a doctor trying to save the cancer rather than the patient. We need to put the speculators through chapter 11 bankruptcy and set up a new credit creation mechanism not controlled by Wall Street ala the Federal Reserve. We need credit investments in infrastructure, rail, power grids, waterways, and power production, i.e. nuclear. It doesn't matter if we hoard all the gold in the world in our fallout shelters with our tinfoil hats. Investment in that which progressively improves the standard of living is what we must move into. If we don't then I'm afraid we will live to sorely regret it.