« 6TH POPE Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Re: $2.5 Quadrillion Disaster Waiting to Happen – Egon von Greyerz

By: Decomposed in 6TH POPE | Recommend this post (0)
Thu, 03 Nov 22 4:22 PM | 45 view(s)
Boardmark this board | 6th Edition Pope Board
Msg. 37023 of 60008
(This msg. is a reply to 37021 by Fiz)

Jump:
Jump to board:
Jump to msg. #

fizzy:

Re: “I always knew this would collapse, and it’s taken longer than I expected, but I think we are at the end of a major era...”
Don't go being like Polyanna's depressing older sister... the one we never hear about because she hit puberty and jumped off a bridge... okay?

von Greyerz says the collapse is "waiting to happen," not that it HAS happened. Derivatives are insurance, always waiting for the bad thing to happen, the bad thing that hopefully never does. The risk is real and TEOTWAWKI is inevitable, imo, but collapses are few and far between. The fact that people a lot smarter than me haven't seen it as being upon us and therefore have bid the price of gold DOWN suggests that we've still got some time.








Avatar

Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months




» You can also:
- - - - -
The above is a reply to the following message:
$2.5 Quadrillion Disaster Waiting to Happen – Egon von Greyerz
By: Fiz
in 6TH POPE
Thu, 03 Nov 22 4:08 PM
Msg. 37021 of 60008

http://usawatchdog.com/2-5-quadrillion-disaster-waiting-to-happen-egon-von-greyerz/

" Therefore, my estimate for derivatives would be at least $2 quadrillion, and I think that is probably conservative. Then, we have debt on top of that of $300 trillion, and we also have a couple hundred trillion dollars of unfunded liabilities. So, we are talking about $2.5 quadrillion, and that’s with a global GDP of $80 trillion. So, there is a disaster waiting to happen, and especially because all this created money has created no value whatsoever...

I always knew this would collapse, and it’s taken longer than I expected, but I think we are at the end of a major era...


« 6TH POPE Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next