GLOBAL DEBT BUBBLE OF $2.3 QUADRILLION

GLOBAL DEBT BUBBLE OF $2.3 QUADRILLION
by Egon Von Greyerz

As I have outlined in many articles, these towers mentioned above have been instrumental in creating a global debt bubble of $300 trillion plus derivatives and unfunded liabilities of around $2 quadrillion, most of which will turn into debt in the next decade or less.

So even if the world can avoid a major nuclear war, it is likely to suffer massive repercussions from the financial calamity coming next.

As Gandhi said:

“THERE IS SUFFICIENCY IN THE WORLD FOR

MAN’S NEED BUT NOT FOR HIS GREED.”

To create $2.3 quadrillion of global liabilities has nothing to do with man’s need but only with the greed of a few at the expense of mankind.

When the nuclear financial bubble bursts in the next few years, we will see an implosion of asset prices in real terms by 75-90% as I have outlined in many articles like here.

In my article “IN THE END THE $ GOES TO ZERO AND THE US DEFAULTS” , I also explain that “there is no means of avoiding the final collapse of a boom brought about by credit expansion” as von Mises stated.

So even if the world survives the threat of a nuclear war, a collapse of the financial system is absolutely inevitable. The greed and the adoration of the golden calf that some parts of the world have practised in the last 50 years, will not go unpunished.

This major transformation coming will be like a financial nuclear event. After a difficult transition, the world will not only come out of it with a much sounder foundation but also based on much better human values than currently.
https://www.zerohedge.com/geopolitical/von-greyerz-will-nuclear-war-debt-collapse-or-energy-depletion-finish-world