Pericles;
The main factor in the changing financial scene is the end
of growth. With the end of growth borrowings cannot be repaid or at
the very least the interest cannot be paid.

At present all that pixel money is running around the world looking for
somewhere to hide. The banks are awash with pixel money but almost
no one is borrowing.
Notice the fixed deposit rates for large amounts of money is less than
for smaller amounts. They just don't want it.

However pixel money I think would be OK if it was only used to build
infrastructure and useful things. Then somebody would be paid for
doing the work. A worker's time has value as it is part of his life
that was purchased with his wages.

Unfortunately with falling energy levels then contraction must set in.