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Episode 4: Global Debt … An Ace-High Royal Flush
Manage episode 353527553 series 3411665
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Greg discusses the UNPRECEDENTED growth in debt during 2022, both public debt and private debt, with the understanding that reliance on printing exponentially more and more money, as a means of economic survival, is ultimately a losing hand. This is especially true when Global Debt holds an unbeatable hand, an Ace-High Royal Flush, suited in Diamonds (for the obvious irony) … 10 of Diamonds is Private Debt (Consumer, Corporate, Unfunded Pensions) … Jack of Diamonds is CB Balance Sheets … Queen of Diamonds, International USD Debt … the King of Diamonds is "Public" Debt (AKA Government Debt) … and the Ace of Diamonds is the INSANE amount of Derivatives carried by global Commercial and Central Banks, which now totals … well, you have to listen to get that shocking figure!!!!! NOW more than EVER, it is paramount that you protect the purchasing power of your wealth, as onerous debt levels will demand additional debasement of paper currencies, everywhere.
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