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…Global debt is at levels that it should never have reached in a million years, but it’s there, and there’s no paying back, in the traditional sense of paying off a debt so how are the countries around the world (except Russia, who’s debt IS manageable) going to deal with this ever-growing debt?
…It’s not just because of the virus that this is the way it is. At the end of 2019, global debt stood at $255 Trillion. Once the dust settles on all the debt accumulated during the economic shutdowns, the Global debt will be greater than $300 Trillion – with no ability to pay it down.
- the Fed goes negative with rates,
- the banks begin to charge account holders for holding their balances and, being the hotblooded Americans that we are, we won’t sit still while the bank charges us for holding our money,
- there will be runs on banks for withdrawal of cash holdings.
- the Gov’t…will pass a bill that prohibits cash in the hands of individuals and replace the dollars in…your bank account…with…a Gov’t crypto-currency.
- The IMF will increase distribution of their SDR’s, and banks around the world will revert to using SDR’s to settle trade balances. The currencies that used to make up SDR’s will be gone and probably replaced to a very large extent withold…
[I’ve analyzed the situation thoroughly]…and I see no other alternative. The good news in all of this is that gold will be soaring and probably gapping higher each day by $100 or so…Gold & silver…are a store of wealth, and should be held as such….
Editor’s Note: The original article by Chuck Butler has been edited ([ ]) and abridged (…) above for the sake of clarity and brevity to ensure a fast and easy. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.