Global Debt Bubble Hits All Time High – One Quadrillion Reasons to Buy Gold
The comments below are an edited and abridged synopsis of an article by Mark O’Byrne
The global debt bubble has hit a new all-time high—over $237 trillion. Global debt increased 10%, or $21 trillion, in 2017, to nearly a quarter quadrillion US dollars; this increase in debt is equivalent to America’s ballooning national debt. Global debt is up $50 trillion in decade, and is over 327% of global GDP; $750 trillion of bank derivatives means that global debt is over $1 quadrillion; gold will be store of value in the coming economic contraction; and global debt is the mother of all bubbles.
Many believe that central banks are responsible for these devastating figures.
Central banks, as the puppets of governments and bankers, are why so many savers, households and investors have had to work hard to protect their assets in the last decade. Little regard has been shown for the long-term health of the economy or value of hard-won savings.
The global debt figures serve as a reminder that individuals and businesses must take responsibility for their own wealth and protect it from the ongoing currency debasement and gigantic monetary experiment of central banks.
Gold that is held in a segregated, allocated portfolio is a key way to protect savings from counterparty risk in the financial system. Gold’s performance in 2017 into this year, along with low gold liquidations, increased demand for gold coins and bars, and central bank purchases show the prudent money is again diversifying into gold in anticipation of the next financial crisis.