The EMA Q3 report identifies an emerging global sovereign debt crisis that is calling all fiat currencies into question. The analysis suggests the "Everything Bubble," inflated by decades of Zero Interest Rate Policy (ZIRP) and cheap money, is reaching its natural conclusion. Persistent inflation has been identified as the catalyst ending this era of monetary expansion. According to the report, this sustained price pressure serves as the definitive pin bursting the asset bubble created by prolonged accommodative monetary policies.