“In a bankrupt global system, you reach a point when the value of printed money dies and whatever a leader promises can no longer be bought with fake money which will always have ZERO intrinsic value,” Swiss expert Egon von Greyerz explains. “With over $2 quadrillion (2 and 15 ZEROS) of debt and liabilities resting on a foundation of $2 trillion of government-owned gold that makes a gold coverage of 0.1% or a leverage of 1000X!” he adds.
The last time this system was about to collapse was at the time of the Lehman shock in 2008
Europe aims to equalize gold to GDP ratios, not gold to monetary base ratios. As a consequence, the gold standard they envisage is more likely a system of gold price targeting rather than the classical gold standard. In the latter system people can exchange bank notes for gold at a fixed price at a (central) bank: the monetary base is backed by gold. With gold price targeting people can exchange gold in the free market at a price that is stabilized through central bank monetary policy.
The gold is evenly distributed in the eurozone, but the debt that needs to be cancelled is not. For example, Italy has a public debt to GDP ratio of 150%, while in Germany it’s 70%. Part 3 of this series will be about risk sharing: what options there are to transfer debt from Italy to other countries, in order to make most use of all NCBs’ revaluation accounts.
The non local universe
We propose that the universe is nonlocal and that the appropriate worldview or paradigm for this understanding is nonlocal realism. Currently the worldview of local realism guides and frames the understanding and interpretations of science. Local realism was the worldview employed by Einstein in his relativity theories, but the principles of this paradigm have operated as the guiding framework for the rest of classic science for more than a century. This paper points to incoherencies in local realism and to the violation of its principles by recent experiments