It’s probably a safe bet that the pace of debasement of fiat currencies will quicken. From Egon von Greyerz at goldswitzerland.com:
The Everything Bubble is about to turn to the Everything Collapse!
This is the inescapable outcome for the Western world.
The world economy should have collapsed in 2008 were it not for a massive Hocus Pocus exercise by Western central banks. At that time, global debt was $125 trillion plus derivatives. Today debt is $325 trillion plus quasi-debt or derivatives of probably $2+ quadrillion.
The US is today running bigger deficits than ever at a time when:
- The interest rate cycle is strongly up
- There is only one buyer of US debt – the Fed
- Dedollarisation will lead to a rapid decline of the dollar.
The financial system should have been allowed to collapse 15 years ago when the problem was 1/3 of today. But governments and central bankers prefer to postpone the inevitable and thus passing the batten to their successors thereby exacerbating the problem.
FALSEHOOD IS THE MOTTO
The world is now desperately clinging on to a false prosperity, based on false money, false moral values, false financial values, false politics and politicians, false media, false reporting of reality whether vaccines, climate, genders or history etc.
Let’s look at some synonyms to false or falsehood according to Thesaurus:
Cover-up, deceit, deception, dishonesty,
fabrication, fakery, perjury, sham etc.
Yes, all of the above fits today’s West and especially the US. But as I often point out, history repeats itself so this is nothing new. But since most major cycles can take 100 years from boom to bust and back again, very few people experience a severe depression in their lifetime.
In the West, the last major depression was in the 1930s followed by WWII.
Read Cormac’s The Road. Pay attention to the part where he
discovers the underground bunker, particularly his reaction to
the stack of krugerands.
So you have your litte pile of gold. Everything has gone to hell
and you are surrounded by people with no gold. You go and
buy something and pay with gold. The guy you bought from
tells his family and friends. “Joe Blow just bought rice from
me and he paid with gold.” Now Joes family and friends don’t
have any gold but they do have weapons and ammo. So who
do they decide to pay a visit to that night?
There is no way out of the hell that is coming except the
ability to project brute force in defense of whatever you
deem to be important.
I highly doubt that anyone smart enough to plan ahead by stockpiling gold will have skipped over the “buy guns/ammo” part of the prepper checklist. If it was me, and Joe Blow is bartering/buying with gold from me, I would assume that he already also has acquired guns and ammo, either before the SHTF, or with some more of that very gold. I wisely do NOT pay him a visit that night.