{"id":64018,"date":"2022-11-03T09:07:00","date_gmt":"2022-11-03T14:07:00","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64018"},"modified":"2022-11-03T09:07:00","modified_gmt":"2022-11-03T14:07:00","slug":"2-5-quadrillion-disaster-waiting-to-happen-egon-von-greyerz","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64018","title":{"rendered":"$2.5 Quadrillion Disaster Waiting to Happen \u2013 Egon von Greyerz"},"content":{"rendered":"<header>\n<h3 class=\"title single-title\"><a href=\"https:\/\/usawatchdog.com\/2-5-quadrillion-disaster-waiting-to-happen-egon-von-greyerz\/\">$2.5 Quadrillion Disaster Waiting to Happen \u2013 Egon von Greyerz<\/a><\/h3>\n<\/header>\n<div class=\"post-single-content box mark-links\">\n<p>Egon von Greyerz (EvG) stores gold for clients at the biggest private gold vault in the world buried deep in the Swiss Alps. EvG is a financial and precious metals expert.\u00a0 EvG is a former Swiss banker and an expert in risk.\u00a0 He says the risk in the global markets has never been this high.<\/p>\n<p>EvG explains, \u201cCredit has increased dramatically through derivatives.\u00a0 All instruments being issued now by banks, pension funds, stock funds, it\u2019s all synthetic.\u00a0 There is no real underlying payments in anything almost. \u00a0Therefore, my estimate for derivatives would be at least $2 quadrillion, and I think that is probably conservative.\u00a0 Then, we have debt on top of that of $300 trillion, and we also have a couple hundred trillion dollars of unfunded liabilities.\u00a0 So, we are talking about $2.5 quadrillion, and that\u2019s with a global GDP of $80 trillion.\u00a0\u00a0<span id=\"more-27272\"><\/span>So, there is a disaster waiting to happen, and especially because all this created money has created no value whatsoever. . . . I always knew this would collapse, and it\u2019s taken longer than I expected, but I think we are at the end of a major era. . . . These derivatives, at some point in the coming few years, will actually turn into debt. \u00a0Central banks will have to cover all the outstanding liabilities of the commercial banks as we are seeing now with Credit Suisse, Bank of England and etc.\u00a0 This is going to happen across the board.\u00a0 Whether it\u2019s called derivatives or called debt, as far as I am concerned, it\u2019s the same thing. \u00a0It will have the same effect on the world financial system, which will be disastrous, of course.\u201d<\/p>\n<p>EvG says the derivative markets were simply a way for financial institutions to carry debt and not show it on their balance sheets.\u00a0 In the end, everything will balance out&#8230;<\/p>\n<p>\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>$2.5 Quadrillion Disaster Waiting to Happen \u2013 Egon von Greyerz Egon von Greyerz (EvG) stores gold for clients at the biggest private gold vault in the world buried deep in the Swiss Alps. EvG is a financial and precious metals expert.\u00a0 EvG is a former Swiss banker and an expert in risk.\u00a0 He says the [&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":[175,195,1668,14995,374,8757,9699],"class_list":["post-64018","post","type-post","status-publish","format-standard","hentry","category-economics","tag-credit","tag-debt","tag-derivatives","tag-egon-von-greyerz","tag-gold","tag-greg-hunter","tag-usa-watchdog"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64018","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=64018"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64018\/revisions"}],"predecessor-version":[{"id":64019,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64018\/revisions\/64019"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}