Egon von Greyerz: The Crisis Will Sink Stocks and Propel Gold
"...investors are living in cloud cuckoo land. They don’t understand that there are no safe assets today"
"...investors are living in cloud cuckoo land. They don’t understand that there are no safe assets today"
“Dalio warned the value of hard currency would be eroded by a weaker dollar and growing money supply.”
"When Mark Carney, a central banker, is showing us maps of Florida before and after a 9 foot rise in global sea levels, the whole climate change narrative hasn’t just jumped the shark, it’s carved it up and served it for dinner."
The inevitable consequence of this is a massive implosion of the fake wealth bubble and also the debt bubble made of fake money. This will lead to tremendous wealth destruction, hardship and suffering for people around the world.
A low level of economic complexity isn’t necessarily a problem. Many countries with middle-to-low scores in the ranking have great standards of living and a high level of wealth. Countries like Canada, Norway, and Australia were all well down the list.
There is a growing national consensus that it is going to be a very chaotic year, and I would recommend using what little time you have left to get prepared for it.
In 2019, Singapore wins the coveted “most competitive economy” title, with a 84.8 score on the GCI.
The commercialisation of surrogacy would effectively usher in a regime allowing the buying and selling of gametes, and therefore of children. What this amounts to is the human trafficking of children.
In addition, unfunded liabilities, like medical care and pensions, are at least $300 trillion globally. If we add gross derivatives of $1.5 quadrillion, which are likely to turn into real debt as counterparties fail, the total debt and liabilities are above $2 quadrillion.
Reflecting the obsessive focus on a deal with the European Union, the Department for International Trade's efforts at signing trade deals with non-EU states has fallen well short of expectations.
Today, the U.S. dollar is the world’s most powerful reserve currency, making up over 61% of foreign reserves. The dollar gets an extensive network effect from its use abroad, and this translates into several advantages for the multi-trillion dollar U.S. economy.