So you *want* deflation to happen? Say goodbye to credit of any kind.
There will always be people willing to lend money even if it is only in the form of gold coins. They will be those who consume less than they produce. What we should like to see less of is illicit credit that exists as a result of monopoly privileges to issue a sovereign nation's money supply.
I did not mean to infer that I wanted deflation to happen.
Just that the house of cards is less stable every day.