It's Either a Debt Write Off or a Debt Reset Versus Gold.
In this report, I cover the early market action from London on Thursday, September 12th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I look into the question of debt and how it is related to our current fiat currency or monetary system. As opposed to a sound money or gold standard system without a Central Bank our current centralised monetary system depends on the creation of never-ending debt out of thin air in order to add currency or money into the system. In a sound money and free-market system savings and investment drive economic growth and prosperity.
I also look at some recent tweets by President Trump in which he called for the Federal Reserve to manipulate interest rates even lower and even into negative territory. Maybe Mr Trump knows that without more debt creation the system is doomed.
My conclusion is that after decades of decreasing interest rates we have seen a mountain of debt that continues to grow and unless this debt burden is alleviated the whole monetary and economic system will implode on itself. There are only two solutions to insurmountable debt: one is to write it off and the other is to reset it versus a standard of value.
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Thanks Mario. There is still the 100 years bond for the can to be kicked further before the default option or a new currency ? At least we have seen that with emerging market countries..
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It amazes me how people can not see this all collapsing. I often take about the immanent collapse and people just don't see it, simply saying things like oh but they would never get away with that or but that would not be allowed. It's like pulling teeth sometimes haha 💯🐒