Quote of the day—Egon von Greyerz

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
[We live in interesting times.

Prepare appropriately.—Joe]


2 thoughts on “Quote of the day—Egon von Greyerz

  1. Once again, trying to control the energy market was the key. As the Saudi’s wanted gold for their oil. And Nixon wasn’t going there.
    So they floated the dollar and made a bunch of promises/lied through their teeth. And started printing.
    But what hasn’t changed is monies only value is in its use. And its perception of use. (Money is only worth the paper its printed on.)
    Having built a few house for people that were super-rich. Changes your perspective. One sees the stark contrast in money.
    Having to labor and struggle for it is ones way to see it. Seeing it as just an object with which to please oneself is completely different.
    We see these high numbers in terms of our slavery. Not so for those that print it.
    Slavery is what makes them your master. Why wouldn’t they want inflation?
    Trillions in debt? Your debt. Nothing their going to work for.
    How much will Bill Gates pay you for your baloney and bread sandwich when he’s starving to death? (It’s a trick question. He would just have one of his guards steal it from you.)
    The amounts of money doesn’t matter. It the perception of what you need it for that matters. And what your willing to do to get it.
    There’s a reason Gates is buying farmland with his money.

  2. Removing currency from the “gold standard” was done specifically to make increasing debt much simpler. Tying the dollar to gold made the damage done by inflating currency easily seen by anyone and everyone. What cannot continue will not. And nonstop creation of currency will ALWAYS lead to an economic collapse. The only question is when, how fast and how far things will collapse. We haven’t seen bad yet. But it’s coming.

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