Political & Currency Chaos Colliding with Gold & Common Sense
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
Matthew Piepenburg interviews Darryl and Brian Panes of As Good As Gold Australia to discuss the global debt bubble.
They begin with US public debt limits, which have gone from under $1 trillion in the Reagan era to over $32 trillion today. Piepenburg explains why they are not only unsustainable, but ultimately addictive, toxic and fatal to markets and economies. As for predicting the end-game with any precision, it’s a mug’s game given the counterfeit power of central banks.
Up for discussion: Waning trust in the US dollar; President Putin calling out the dollar’s clay feet; backfiring policies and sanctions against Putin; loss of the dollar’s hegemony; the historical issue of war and currency destruction; the fiat monetary expansion system; and inflation.
Regardless of the complexities of global finance, everyone feels the destruction of paper money in real time. This will lead to distrust in governments, currencies and social cohesion, which those in power fear. Political reaction to such fears results in wars and increased centralized control over the average citizen, evidence of which is increasing by the day.
The trio discusses the lack of real-world qualifications of the so-called global elite, which Piepenburg calls out for their lack of accountability and honesty, and the creation of wealth inequality.
As for precious metals in general and silver in particular, Piepenburg addresses central bank precious metal accumulation, the pending chaos in paper money and the inevitable role gold and silver play in these backdrops.