Debt has brought the West to an economic and financial precipice. From Matthew Piepenburg at goldswitzerland.com:
The Western financial system and world reserve currency is now in open decline.
From Rigged to Fail to Just Plain Failing
Just two years ago, I wrote a book warning that Western markets in general, and US markets in particular, were Rigged to Fail.
Well, now, in real time, they are failing.
This hard reality has less to do with COVID or the war in the Ukraine and more to do with one simple force, which euphoric markets and clueless leaders have been ignoring for decades, namely: Debt.
As I wrote then, and will repeat now: Debt destroys nations, financial systems, markets, and currencies.
Always and every time.
As we see below, the inflationary financial system is now failing because its debt levels have rendered it impotent to grow economically, react sensibly or sustain its chronic debt addictions naturally.