The Bank of International Settlements recently announced that the world has passed the $100 trillion debt level, up 40% in the last 5 years, as per this article:
This would imply about $1,000 in interest payments for every citizen on earth to someone, mostly banks.
Surely we are close to the end of the 45 year Ponzi scheme that has passed for the “modern” financial system.
Where to from here?
Well China looks like it is about to allow defaulting on its thousands of low level shadow banking loans. They have about one quarter of the $100 trillion debt so that would have repercussions around the world, such as bail-ins, pension confiscations, political turmoil, economic collapse etc.
The rest of this decade could be social unrest on a massive scale and gold will be one of the few safety nets left