Will Atlas save the world? Global debt of $250 trillion can neither be serviced nor ever repaid. More likely, it will continue to grow exponentially until the world financial system collapses under the weight of the debt plus unfunded pension and medical liabilities of at least $250 trillion plus derivatives of $1.5 quadrillion, making a total of over $2 quadrillion.
No normal human can ever save the world but maybe Atlas will be the saviour. Atlas was one of the Titans and brother of Prometheus who created man from clay. Atlas led the Titans in the war against the Gods. When the Titans lost, Zeus punished Atlas to hold the celestial sphere on his shoulders until the end of time. If Greek mythology could save the world, now is the time that this is really needed. Without Atlas protecting the earth from collapsing under its debt burden of $ quadrillions, how can the world survive the coming debt implosion?
The problem is even worse, because no one even sees the need for Atlas to support the world financial system. Instead, debts and liabilities in the trillions are added on every month. Investors are continuing to buy overvalued stocks and property as well as worthless bonds. And governments can’t even make ends meet in good times with low to negative interest rates. How can anyone believe that the world can survive when hard times hit with escalating deficits and rates in the teens or higher. At that time even Atlas will have problems!
The New Case for Gold
Best Price: $0.25
Buy New $6.99
(as of 11:36 UTC - Details)
BUY HIGH AND SELL LOW
Buy high and sell low! That is the mantra of most investors. Very few buy when assets are unloved and undervalued. The herd instinct is what drives the majority of people buying stocks, property or precious metals when they are already expensive. Nothing is really interesting until it makes the headlines or friends are telling you they are buying. The best time to buy is when no one talks about an investment and which is greatly undervalued.
A WEDDING GIFT
Back in 2001-2, I had the personal experience of recommending to a number of friends and relatives what I at that time saw as the most important asset to hold. I was even so keen on this investment that I talked about it in 2002 when I gave a speech to one of my daughters at her wedding. Since the bridegroom was English, the tradition is that the father of the bride pays for the whole wedding. So at that particular point, your daughter becomes extremely dear, especially since we have three daughters who all got married within ten months! I thought I would give everyone a gift at the wedding breakfast (that’s the name in the UK even if it is dinner), so in my speech I recommend everyone to buy gold for wealth preservation purposes. There were Brits, some Swedes and Swiss etc attending. Of course, a wedding is not a typical venue for investment advice but still I felt passionate about the risks in the world already at that time. Gold was then $300 and £200 per ounce. In SEK Swedish kroner gold was SEK2,800 per oz.
So how many of the guests went home afterwards and bought gold. I don’t know but from what I gathered, not a single one. Most people at the time thought they were experts in tech stocks since these had been going up for years. But as normally is the case, people had bought late in the cycle and were already losing big money in 2002. Their mind was more on recovering their losses rather than gold and wealth preservation. Like often is the case, some bought later when gold had trebled in 2010-11 and probably sold at a loss in 2012-3.
I doubt anyone who was at the wedding is today aware that in British pounds, they would have made 5X the money as gold has gone from £200 to £1012 today. In Swedish kroner they would have made 4.5X the money. What most people don’t know either, is that gold has vastly outperformed stock markets in this century.
HISTORY WILL RHYME AGAIN
So why am I talking about what people could have made if they listened to my advice? For the simple reason that we are today in a very similar situation to the 2000-2 period. And just like then, nobody will buy gold until it is much higher and noticed by MSM (Main Stream Media).
Gold is today again unloved and undervalued. And virtually no one in the West is buying gold or gold stocks. The East, China, India and Russia are still continuing to accumulate because they know what is about to happen. But in the West, governments and central banks deliberately cheat and mislead their people.
