As the world seems to hurtle from one crisis to another, today a man out of Europe who has been extremely accurate with his calls on the gold market sent King World News a fantastic piece which discusses debt, gold, crisis, and it also includes two absolutely astonishing charts. Below is the exclusive KWN piece by Ronald-Peter Stoferle of Incrementum AG out of Liechtenstein.
“Crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.” Rudi Dornbusch
In contrast to October 1929, additional growth in economy-wide debt was fostered after the stock market crash of 1987, among other things by Alan Greenspan’s loose monetary policy. At the end of 2008, the ratio reached 375%, an all-time high. Since then there has been gentle deleveraging, the ratio remains however at an unnaturally high level and in “uncharted territory”.
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