In 1971, when Nixon closed the gold window, global debt was $1.5T.
After 50 years of irresponsible monetary policies debt has grown 200X. When we reach a total debt of $3 quadrillion in the next 5 to 10 years, with the assistance of the derivative collapse, the increase will be 2,000X since 1971.
Egon von Greyerz
July 13, 2022
BEWARE OF MARKETS FULL OF FOOL’S GOLD
[We live in interesting times.