Egon von Greyerz of GoldSwitzerland.com tells DOUBLE DOWN that not since Nixon took the US off the gold standard in August 1971 have we experienced such a profound monetary event as what has happened recently in the repo markets in the US. Now, after bailing out the banks to the tune of $14 trillion in 2008-2009, we have low interest rates inspired $19 trillion in corporate debt nevertheless unable to make interest payments on current earnings and how will they be bailed out? Egon von Greyerz believes it is 25 years too late for governments or central banks to do anything about the toxic debt load threatening our economies around the globe. Tune into Double Down to hear what Egon von Greyerz has to say on this and more.
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