Semi-failed and failed states can only exist by dealing in hard assets of real intrinsic value just as Syria, Venezuela, Iran, and Ukraine have done... and the most liquid of those hard assets is their physical gold.
"They pump up valuations to get higher returns to look good to investors," Schiffer said. "That kind of fundraising apparatus is essentially unicorn porn."
...we will spend the latter part of the 2020s going through a kind of worldwide bankruptcy... as we will collectively realize the situation can’t go on and find a way to end it in "the Great Reset"...
The universe of negative-yielding bonds currently stands at $12tn, a level we have never seen at this stage of the economic cycle... This configuration is pushing investors to search for yield, changing the nature of assets.
Venezuela is the only country in the world that is suffering from the ravages of hyperinflation. Just how severe is Venezuela’s hyperinflation? If one measures severity by the duration of hyperinflation, Venezuela’s episode, which started in November of 2016 and has yet to end, is severe.