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COMMODITIES     why gold continue to go up (Stephan)

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Stephan     posted : 18/10/12   06:29 pm


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- Worldwide money printing continues unabated
- Just In 10 years $120 trillion have been printed making global debt $200 trillion
- World GDP has gone from $32 trillion to $70 trillion 2001-2011
Thus $120 trillion debt is required to produce a $38 trillion annual increase in GDP
- The marginal return on printed money is negative in real terms
Thus the world is living on an illusion of paper that people believe is money
- This illusionary paper wealth will implode in the next few years
- The initial trigger will be the collapse of - the world's reserve currency - the US dollar
- The dollar is backed by $120 trillion of US government debt and probably NO gold
- All currencies will continue their race to the bottom and lose 100% in real terms against gold
- This will create a worldwide hyperinflationary depression
- All assets financed by the credit bubble will go down in real terms
- This includes stocks, bonds, property and paper money of course
- The financial system is unlikely to survive in its present form
- The banking system including derivatives has total liabilities of around $1.2 quadrillion
- With world GDP of $70 trillion, the world is too small to save a financial system which is 17x greater
- This is why there will be unlimited money printing and hyperinflation
- The only asset that will maintain its purchasing power is gold.
- Gold has been money for 5,000 years and will continue to be the only currency with integrity
-Western countries' 23,000 tons of gold is probably gone. See recent article by Eric Sprott
Stephan     posted : 18/10/12   06:31 pm


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