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War, today it has nothing to show for the increase in debt. Weak growth leads to a further increase in the debt-to-GDP ratio despite a decline in the federal deficit, undermining confidence in the dollar. In the short term the dollar might strengthen again due to turbulence; in the long term , however, the lack of spending discipline is a problem. Rickards boldly predicts a collapse of the world financial system within the next three to five years. The writing is on the wall due to insufficient restructuring of the financial sector and risky strategies by markets participants. Already, the world financial system collapsed in the years 1914, 1939 and 1971. The world didn't end, but the financial system had to be reformed every time. The IMF's Special Drawing Rights (SDR) or even gold could play a major role during the next reform.