As West, Debt, & Stocks Implode, East Gold & Oil Will Explode, by Egon Von Greyerz

There is no way the world can escape a massive debt implosion. From Egon Von Greyerz at

“The risk of over-tightening by the European Central Bank is nothing less than catastrophic” says Prof Kenneth Rogoff .

At Davos he also said: “Italy is extremely vulnerable. But this could pop anywhere. Global debt has gone up massively since the pandemic: public debt, corporate debt, everything.”

Rogoff believes that it is a miracle that the world averted a financial crisis in 2022, but the odds of a major accident are shortening as the delayed effects of past tightening feed through.

As Rogoff said: “We were very fortunate that we didn’t have a global systemic event in 2022, and we can count our blessings for that, but rates are still going higher and the risk keeps rising.”

But lurking in the murkiness is also the global financial assets/liabilities which is almost $500 trillion including the shadow banking system at 46% of the total. The shadow banking sector includes  pension funds, hedge funds and other financial institutions which are largely unregulated.


Shadow banking is not subject to the normal mark-to-market rules. Thus no one knows what the real position or losses are. This means that central banks are in the dark when it comes to evaluation of the real risks of the system.

Clearly, I am not the only one harping on about the catastrophic global debt/liability situation.

Continue reading→


One response to “As West, Debt, & Stocks Implode, East Gold & Oil Will Explode, by Egon Von Greyerz

  1. Stolen from the comments section:

    -Russia will establish a Moscow Precious Metals Exchange, and prices will be set according to physical delivery. Putin has stated this
    -Russia will begin selling commodities on the blockchain. Putin has stated this also.
    -Saudi Arabia will sell oil for gold-backed yuan. Both Xi and MBS have stated this.

    (h/T-Quetzalcoatl & Saker)


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.