Economic Crash Worldwide Starting
Here is a good compilation of videos by financial experts discussing the impending economic collapse.
The Real State of the World Economy Is Dire
We are back to the ‘green shoots’ era of false hope and total misunderstanding of the real state of the world economy. Tidbits of good news, combined with manipulated and seasonally adjusted economic figures, are spreading an optimism that has nothing to do with reality.
A world with $250 trillion of debt and over $1 quadrillion of worthless derivatives can’t recover, especially since it is a world supported by reams of worthless printed paper currency.
We are at the end of a major economic cycle that started at the end of the Dark Ages; those alive today will experience the very beginning of the downturn. Sadly, it will be a major and very unpleasant upheaval that virtually nobody will escape.
In the last 100 years we have seen the creation of the Fed (owned, created and controlled by private bankers), combined with fractional reserve banking (allowing banks to leverage 10 to 50 times), exploding government debt, and a derivatives market of $1.4+ quadrillion. These are the principal reasons why the world economy has expanded in the last century, and particularly in the last 40 years. They have created a world of delusional wealth and illusory prosperity. Also, there is a total absence of moral and ethical values. We are in the final stages of an era of extreme decadence, an era that cannot and will not have a happy ending.
The US and the rest of the world will continue to print unlimited amounts of currency. But these are worthless pieces of paper and have nothing to do with wealth creation. The printing will just add to the already unsustainable world debt and not create any added prosperity. Instead we are likely to see a hyperinflationary depression in many countries.
For the privileged few that have financial assets to protect, physical gold stored outside the banking system is likely to be the best way to preserve wealth and purchasing power.
Read the complete article by Egon von Greyerz
