Tim Price compares the approach being taken by the central bankers of the massively indebted western world to North Korea .. highlights how the rest of Asia has a bright future for economic growth, given its positive demographics & high savings rate .. “A combination of a Zero Interest Rate Policy, generalized financial repression and trillions of dollars, pounds, euros and yen all conjured out of thin air has failed to trigger inflation in the narrower CPI sense of the word. Central banks, in other words, have failed. Analyst and market historian Russell Napier of Cerno Capital suggests that ‘Central banks’ failure to reflate will be very damaging for the price of financial assets and will also ultimately trigger reflation from another source: the government.'” .. likes gold for protection against likely massive central bank monetary easing & government stimulus by the indebted western world in an attempt to generate inflation .. considers an outcome of ‘deflation followed by inflation’ to imply holding these investments: cash held at reputable and solvent banks, objectively creditworthy sovereign debt, inexpensive but high quality listed stocks, gold… concludes: “You would have thought that North Korea had done a reasonable job of invalidating the legitimacy of state socialism and central planning. Perhaps Janet Yellen, Mark Carney and Mario Draghi could go visit sometime. One way fares would suffice.”