World Economy Is Terminally Broken After 50 Years Of Misgovernment

In a world of manipulated economic figures and markets, it is not always easy to maintain your sanity. The world economy is now based on fantasy and hope and has very little to do with reality. But the problem is that virtually nobody understands this. Whether it is a bank analyst or a Nobel Prize winner in economics, they are all spreading the same false message. The Western press and news media are just reporting what governments and the elite are telling them. There is no analysis and no attempt to find the truth in anything. This is why we are now in an era of indoctrination and total brainwashing of the masses. Most people are totally apathetic and incapable of realising that they are being led down a path, both morally and economically, that will make life on earth a lot more difficult not just for the present generation but probably for several generations to come.

50 years’ experience and the biggest dangers are still lurking

Some of us understand the risks very clearly but the world at large just sees our message as prophecies of doom. For most people the debt explosion and the excesses are just normalcy and they believe that this will go on for ever. Little do they understand the risks and the need for taking steps to insure against these risks. And the risks are at many different levels, social, financial, economic, geopolitical including war and social unrest.

There is some advantage in having almost half a century of active business life. The school of life and personal experiences can never be learned from books.

Gold and mining boom

As a young banker in Geneva I remember the mining boom in Australia in the late 1960s. The nickel miner Poseidon for example went from $0.80 to $270 within a year. At that time, it was valued at three times Australia’s biggest bank. The stock quickly crashed and the company went bankrupt. We were fortunate to have Adolf Lundin as adviser on resource stocks. He spent a lot of his time in Australis at that time. Adolf is the deceased founder of the very successful Lundin Group. The 1970s was of course also extremely exciting for gold and silver investors with gold going from $35 to $850. In the next few years, we are likely to see much bigger moves in the metals with gold reaching in excess of $10,000 in today’s money. The global problems today are immensely greater than in the 1970s.

Read more: World Economy Is Terminal