If today's London Telegraph dispatches from Davos are to be believed, and I would not guarantee that they should be believed, it appears that the Davos conference, having nothing actually relevant to do, has chosen to spend the occasion going utterly and wildly insane.
In brief, the entire world monetary-financial systems, including those of Russia and China, are already, if only momentarily, hopelessly bankrupt, at the brink of plunging into a global "new dark age" of proportions far worse than struck Europe during the middle of Europe's Fourteenth-Century New Dark Age. Only putting the leading nations of the world into a cooperative form of defensive state of reorganization-in-financial-bankruptcy, could all of Eurasia, in particular, avoid a virtually immediate plunge into a deep and long, chain-reaction-type breakdown crisis from which many leading nations, would virtually cease to exist in short order.
If there is even a semblance of truthfulness in the Telegraph's dispatches today, reckless, unreasoning, self-destructive rage has seized leading participants at that conference.
In fact, of course, every nation of the planet is already bankrupt. Without measures to establish an emergency system of international trade credit under virtually a fixed-exchange-rate system, the world as a whole could not be prevented from plunging into a general breakdown-crisis of the sort which would mean an immediate plunge of most nations of the planet into a prolonged, deep, and genocidal new dark age.
For example, in the exemplary cases of China and Russia, both nations would rapidly disintegrate if the trans-Atlantic community of Western Europe and North America were to collapse as functioning markets for the exports of China and Russia. This means that, unless the debts and credit-systems of Western Europe and North America remain fungible, China and Russia, among many other nations, are doomed to a genocidal plunge into a prolonged new dark age. Since the financial systems of North America and Europe are already bankrupt, only the generation of newly uttered credit through reorganization-in-bankruptcy of current debts would provide the credit-based markets on which the continued existence of many nations, including Russia and China, now desperately depend.
Whether the Telegraph dispatches are false, true, or only exaggerated, the fact remains, that it is time for people in certain high places to return, calmly, to their senses, while they still have nations whose people they must defend.