that is the baby elephant in the room for sure , one of Hoye's central themes is that you could end up with 8% on the long bond and inflation of -4% so you would have real interest rates of 12% , on the one hand it seems scary trying to look for finance in this situation but conversly gold mining will be the only profitable lending opportunity. go Citibank! , oops I mean Citibank is gone , go Tyhee!