Financial crisis

Humpty Dumpty System Is Irreparable
Published by Egon Von Greyerz | Jul 19, 2020 | Articles 14378

What does it take to break the global financial system? Well, we obviously know what it takes since the system is already broken. Broken by debts, broken by deficits, broken by a fractured financial system, and broken by false markets as well as fake money. So just like Humpty Dumpty, the system has already had a big fall. But the world still believes that this is all a fairytale with a happy ending. No one wants to recognise that Humpty is totally broken and irreparable.

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Broken World Economy Cannot Escape Scylla & Charybdis
Published by Egon Von Greyerz | Jul 10, 2020 | Articles 16272

As the world economy desperately tries to navigate to a safe harbour, is it going be pulled down by the six-headed monster Scylla or the Charybdis whirlpool (Homer’s Odyssey). It seems likely that Scylla is now starting to swallow parts the world before Charybdis will finish it off. A world severely weakened by debt and mismanagement is unlikely to have the strength of Odysseus to pass both obstacles without disastrous consequences.

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What Powell And Lagarde Told The G7?
Published by Egon Von Greyerz | Jul 5, 2020 | Articles 18590

Why don’t Powell and Lagarde tell the people that central bank actions are destroying the economy and the value of the country’s money. The dollar has lost 86% in this century and the Euro 82%, measured in real money. Real money is of course gold since it represents constant purchasing power and is the only money which has survived in history.

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ECB Offers €1.3tn at -1% to Rescue European Banks
Published by Philippe Herlin | Jun 24, 2020 | Articles 25734

By rolling over the debt of ailing banks (new loans to pay off old ones), the ECB is giving them a very bad habit, namely that of governments with perpetual deficits, which are thus exempting themselves from any budgetary effort. What is the point of cleaning up one's balance sheet if the ECB graciously provides the necessary liquidity? The intrinsic situation of the large European banks is therefore not going to improve, at the greatest risk to savers...

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The Great Reset
Published by Cyrille Jubert | Jun 17, 2020 | Articles 29485

On June 3, 2020, at the World Economic Forum, Kristalina Georgieva, the current director of the IMF, gave a conference untitled "The Great Reset". During her speech, she referred to the 1944 Bretton Woods conference, which had set the monetary rules for the following decades and she declared that this epidemic is an opportunity to change the world.

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$GOLD $VIX $SILVER $HUI: 2008 vs Now
Published by Stefano Bottaioli | Jun 16, 2020 | Articles 14315

This chart shows a comparison of Gold, Silver, VIX and HUI in 2008 and now. The extreme movements of volatility (VIX) have often accompanied movements of opposite sign in the precious metals. If we review the phase of extreme volatility seen in 2008, we find several similarities with the current phase.

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