Two women push $120,000 down four toilets in Geneva. Is inflation that bad?

Why would these women do this?  They must have so many dollars they have no idea what to do with them all, and flushing them down the toilet seems like a bit of entertainment.  For ordinary people sums like $120,000 are life changing, but if you’re a Central Banker with access to limitless funds, what can you think of, once you have all the best cars, the best jewellery and paintings, to do with all that money.  Ah yes!  A night out flushing worthless pieces of paper down the bog.

If inflation is so high, and to the super rich it must seem that way, why is gold stuck like a fish rotting on a garage door, asks Keiser?

Bankers are selling gold futures to keep gold down in price, taking their profits from each minirise, and investing into Bitcoin.  Bankers claim they can’t understand why there is so little inflation around the world.  $34 trillion dollars has been created since quantitative easing started.  This money is ending up in the hands of the super rich and never enters the real economy.  Wages don’t rise.  They’ve got so much money they start flushing it down the toilet for something to do with it all.

Global debt could be underestimated by $13 trillion, he adds, as stats don’t include futures trading exposures.

Banks are not lending.  No GDP growth.  No wage growth.  No savings.  No investment. No capital.  No capitalism.   Yet there is more money than anyone can imagine in the hands of the super rich.  To them paper money is practically worthless.

Max Keiser being Max Keiser, and hitting the right notes.  The audience enjoy this presentation, no matter how depressing the message.

 

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