Since the 2008 financial crisis, central banks have pumped trillions of dollars into the global economy. However, those trillions were created out of thin air, according to Claudio Grass of Precious Metal Advisory Switzerland.
Claudio Grass told RT: “I believe even the average person on the street in the Western world realizes that something is fishy. The real economy on a global scale is going nowhere and the pressure especially in the Western world at the working space is accelerating.”
According to him, everything eventually comes to an end and so will the institutionalized denial and the policies of postponing the inevitable.
“Governments and nation states can go bankrupt, and we’ve seen how that looks like already, multiple times in the 20th century, hyperinflation, true economic mayhem and the suffering caused to the average citizen.”
Since then, the whole system became more leveraged and more artificial and much more interconnected, Grass said. He warned that the next time a real crisis hits, “we are set up for an economic devastation of much larger scale.”
Central banks all over the world tried to fight a debt crisis by adding more debt, he explained. Read full article
