{"id":49465,"date":"2019-11-07T07:21:23","date_gmt":"2019-11-07T12:21:23","guid":{"rendered":"https:\/\/olduvai.ca\/?p=49465"},"modified":"2019-11-07T07:21:25","modified_gmt":"2019-11-07T12:21:25","slug":"grant-williams-a-reset-of-the-system-is-inevitable","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=49465","title":{"rendered":"Grant Williams: A Reset Of The System Is Inevitable"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.peakprosperity.com\/grant-williams-a-reset-of-the-system-is-inevitable\/\">Grant Williams: A Reset Of The System Is Inevitable<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>We need to clear the malinvestment that never got addressed during the GF<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While at the New Orleans Investment Conference this past weekend, Chris and I had the great pleasure of sitting down with Grant Williams, publisher of the economic blog\u00a0<a href=\"http:\/\/ttmygh.com\/\">Things That Make You Go Hmmm<\/a>\u00a0and principal of\u00a0<a href=\"https:\/\/www.realvision.com\/\">Real Vision TV<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There will be no smooth transition back to sustained economic growth, he warns<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead, the distortion of today\u2019s excessive asset prices will require a systemic reset to fix. Either by a deflationary event that destroys the malinvestment, or by an inflationary event that destroys the currency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Either way, a shock to the system awaits us:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>When the 2008 crisis hit, we were \u201cat the brink\u201d. Guys like Jamie Dimon will tell you that we were *this* close to the banking system not functioning, people being unable to get cash out of the ATMs.<\/p><p>If you live in Cyprus, if you live in Greece, you\u2019ve seen this movie play out in real-time over the last few years. You\u2019ve had your savings confiscated by the government or a bail-in.<\/p><p>It may not happen here in the US until the very end, but to say \u201cit couldn\u2019t happen here\u201d is clearly wrong. There\u2019s nothing that says the United States is exempt from the laws of finance and thousands of years of historical precedent. Even though it happens to be in the ascendancy globally at the moment, those things change.<\/p><p>Ask Portugal who used to be the holders of the world\u2019s reserve currency centuries ago. Today they\u2019re just one part of the euro. These things ebb and flow. They rise and fall.<\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grant Williams: A Reset Of The System Is Inevitable We need to clear the malinvestment that never got addressed during the GF While at the New Orleans Investment Conference this past weekend, Chris and I had the great pleasure of sitting down with Grant Williams, publisher of the economic blog\u00a0Things That Make You Go Hmmm\u00a0and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[9860],"class_list":["post-49465","post","type-post","status-publish","format-standard","hentry","category-economics","tag-adam-taggart"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/49465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49465"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/49465\/revisions"}],"predecessor-version":[{"id":49466,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/49465\/revisions\/49466"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}