All Hell Will Break Loose for Humanity
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
We are at the end of an era of economic and moral decadence in a debt-infested world built on false values, fake money and abysmal leadership. All hell will break loose.
There are eras in history that have produced great leaders and thinkers. Sadly, the current era has produced nothing of that kind. The end of an economic cycle produces no great leadership or statesmanship, only incompetent leaders. Political leaders are instruments of their time. Times like the present don’t produce superior leaders.
It is the buildup of a massive debt mountain that has given the Western world a false comfort based on false values.
The US has increased its debt every year since 1930, with a couple of minor exceptions in the 1950s and 1960s. The Clinton surpluses in the late 1990s were fake and, in fact, deficits.
In history, when there is undue economic pressure, starting wars is popular and often felt to be necessary. It is convenient to blame the war for the increasing debts.
The gold standard was an excellent way of preventing governments from spending money they didn’t have. Since money couldn’t be printed at will, deficits had to be financed by settling debts in physical gold.
Up for discussion: The gold window has been ‘temporarily’ closed for 50 years; the fat lady hasn’t sung yet; the perfect storm (stocks, bonds, credit markets, property, derivatives, banks and the financial system, governments and central banks); not just an economic and financial storm, but also human hell (commodity inflation, dollar collapse, digital money, the WEF and Klaus Schwab, unemployment, pension systems, social security systems); the war is not the cause but a very grave catalyst; wealth preservation and gold.