by Gary Christenson
Deviant Investor
The western welfare states (US, UK, EU etc.) have borrowed more digital currency than can be repaid at current values. The choices are:
Massive inflation: a bad choice
Default: an even worse choice
From Jim Rickards (Strategic Intelligence – Sept. 2016 issue):
“Given the nonsustainability of sovereign debt under current monetary regimes and the necessity for global inflation, there are three possible endgame scenarios facing us now.”
- “The first scenario is that central banks are finally successful in launching inflation …”