GLOBAL DEBT FROM $300 TRILLION TO $2 QUADRILLION IN NEXT 5-10 YEARS
Egon von Greyerz
The coming 5-10 years are likely to see asset prices decline by at least 90% in real terms. Yes stocks, bonds and property prices will in coming years collapse. But that’s not enough, the whole structure of society will also fall. There will be no or negligible pensions, there will be no social security system and the standard of medical care will fall dramatically.
So is this another sensational prediction by a Cassandra or Doom and Gloom know-it-all?
Hardly, it is just the consequences of 100 years of a false monetary system based on corrupt principles, fake money and unlimited credit, only backed by inflated asset prices in a vicious cycle of self-destruction.
All actions have consequences but the creators of our current Hocus Pocus monetary system never worried about the negative effects. And why should they since they for over 100 years have been the major beneficiaries of the Hocus Pocus system they created on Jekyll Island.
The current monetary system was created on Jekyll Island in November 1910 by some influential and disingenuous bankers backed by a couple of duplicitousinfluential politicians. They were guided by Mayer Amschel Rothschild’s motto – “Permit me to issue and control the money of a nation and I care not who makes its laws.”
It was a genial system that allowed them to control not just the US financial system but eventually also the global financial system as the US dollar became the reserve currency of the world.
The system was based on unlimited debt and fiat money creation. Politicians quickly learned that there was an unlimited source of money that they could tap in order to buy votes.
It is only with this ingenious Hocus Pocus scheme that the politicians have been able to increase the US federal debt every single year for 90 years without a financial collapse. And at the same time the scheme has allowed the politicians to stay in power without the system going bankrupt.
And history gives us a good indication where we currently are in the cycle. If we take the creation of the Fed in 1913 as the start of the current monetary system and Nixon’s seminal decision to close the gold window in 1971, as the beginning of the end, we are now at the end of the end game.
We could easily point to the economic, political and social decadence as clear evidence of the coming global collapse. But the easiest method for measuring where we are is obviously the debasement of the currencies.
As I frequently stress, all currencies have lost 97- 99% in purchasing power since 1971 and around 85% since 2000.
The final fall of 1-3% since 1971 to reach a ZERO value for the fiat currencies is likely to take place in the next 5-10 years. But remember that this is a 1-3% fall means 100% from today.
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