$2 QUADRILLION DEBT PRECARIOUSLY RESTING ON $2 TRILLION GOLD

[Goldhedge]

$2 QUADRILLION DEBT PRECARIOUSLY RESTING ON $2 TRILLION GOLD​

By Egon von Greyerz
October 28, 2022

A Lehman squared moment is approaching with Swiss banks and UK pension funds under severe pressure.

But let’s first look at another circus –

The global travelling circus is now reaching ever more nations just as expected. This is right on cue at the end of the most extraordinary financial bubble era in history.

It is obviously debt creation, money printing and the resulting currency debasement which creates the inevitable fall of yet another monetary system. This has been the norm throughout history so “the more it changes, the more it stays the same”.

It started this time with the closing of the gold window in August 1971. That was the beginning of a financial and political circus which continuously added more risk and more lethal acts to keep the circus going.

An economic upheaval always causes political chaos with a revolving door of leaders and political parties going and coming. Remember, a government is never voted in but invariably voted out.

What was always clear to a few of us was that the circus would end with all of the acts crashing virtually simultaneously.

And this is what is starting to happen now.

We have just seen a political farce in the UK. Even the most talented playwright could not have created such a wonderful merry-go-round of characters who we have seen coming in and out of Downing Street.

Just look at the UK Prime Ministers. First there was David Cameron

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$2 QUADRILLION DEBT PRECARIOUSLY RESTING ON $2 TRILLION GOLD

The $2 quadrillion derivatives bubble is ready to burst, and their are only $2 trillion golden parachutes available.

goldswitzerland.com

 

[pmbug]

 

[Ttazzman]

The article lost me when it defined gold stocks in dollars instead of ounces

 

[Goldbrix]

The article lost me when it defined gold stocks in dollars instead of ounces

Yeah, Like gov paper has more value and demand than gold and silver man has used all through the ages.

 

[pmbug]

The article lost me when it defined gold stocks in dollars instead of ounces

I thought the same thing as I was reading it, but I understand that what Egon was trying to do was highlight the disparity between the dollar value of the gold stocks to the debt. It's sort of like highlighting the ~100 paper claims to gold that folks talk about vis a vis the COMEX/LBMA. He wants people to understand just how little of the debt is backed by real value.

 

[Ttazzman]

I thought the same thing as I was reading it, but I understand that what Egon was trying to do was highlight the disparity between the dollar value of the gold stocks to the debt. It's sort of like highlighting the ~100 paper claims to gold that folks talk about vis a vis the COMEX/LBMA. He wants people to understand just how little of the debt is backed by real value.

He lost me at the title to the point i didnt read the article....the comparison is so fundamentally inaccurate on so many levels it causes me to discount his ability to understand and convey a accurate premise in his article....for a example if he was doing the comparison to another commodity such as oil..would he quantify the oil in dollars? Or in barrels...

Not arguing but expanding my brief first statement

in the fact that i did not read the article if he went on to explain 2t in gold was just a meaningless number then the article could have some merit ....i wonder what audience he was speaking to ..... informed or the un informed