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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 379.91

+0.4%

Nov 11 4:00 PM EST

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To: RJA_ who wrote (92989)	7/27/2012 4:59:00 PM
From: RJA_	Read Replies (1) of 217693

From Dave Galland, Casey Research, today: "It's all about the debt. "The sovereigns owe a lot of money that they can't repay. As they try to roll over their existing debts and have to borrow more, the lenders - if any can be found - will want higher and eventually unaffordable interest rates. When the lenders dry up, the only solution will be for the central bankers to monetize, but the world will be watching closely, so this will likely trigger a death spiral in the fiat currencies. "There are intractable problems on a fundamental, systemic basis that cannot be resolved in an orderly fashion. The day is coming when the lending locks up again, after which point everything starts to fall apart. "So, no, I don't think it's a muddle by outcome, but a systemic crash... hopefully big enough to cause a rethink about the entire current setup with funny money and central economic planning. "But that would take a very big crash."

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