Broad Oak: your emotional support animal

Saturday, January 23, 2016

Trillion Dollar Drain

General Midwinter's invasion force sinks through the Baltic sea ice - a still from "Billion Dollar Brain" (1967)

Billionaire businessman and precious metal advocate Hugo Salinas Price notes that exactly one trillion dollars has disappeared from global Central Bank reserves since August 2014.

He comments:

"The fall in International Reserves is a clear indicator of a world-wide economic slump, which will become a severe depression... World liquidation has set in. The Piper must be paid. Growth is gone. This will be story in this epic year 2016."

- and asks, who bought that $ trillion-worth of assets?

I look forward to some expert opinion enlightening me.

Is this a sign that the super-rich and the offshore "dark pools" are offloading their cash for something safer? If so, is that an indication that they expect inflation as governments try to pay their obligations with debased currency?

Alternatively, has there been a secret write-off of unpayable debt?

Or did somebody at Bloomberg just hit the wrong key when updating the figures?

This infographic from Demonocracy shows what a trillion dollars in (100-dollar bills) looks like, compared to a football field (it's still only 6% of the US debt ceiling):

(Pic source)


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