UK economic crash – UK Bond Market Bloodbath
Thu 1:13 pm +00:00, 9 Jan 2025 2Retirement pensions could be badly hit
Boomers out of comfort zone?
Bond vigilantes pouncing on the UK
Borrowing costs spike
A very important event, worse than the Truss Kwartang debacle
10 year yield rising, up to 4.98% today, 5% likely soon, 8% possible in future
Bank of England sat on junk gilts, lots of them
Taxpayers are the guarantors of government bonds and will bail out BoE if required
QE caused all this, money out of thin air
Abolish the BoE ideally [not going to happen]
Nothing lasts for ever
Cheap credit OVER, same in US
Their solution?
Get Central Banks to cut rates and more QE which would be like fuel on the fire
Would crush fiat currencies, all of them. But not gold and silver
Gold at all time high, pound at new low
Now at an existential crisis for the UK government and pensioners
All built on a pyramid of fake ephemeral values because of artificial low interest rates over 40 years
Economy has been supported by Boomers assets, that is over for subsequent generations
Bail outs might not work
Personal solution? Get out of debt, live within your means, stack gold and silver if possible
Most of all, pay off your debts!
UK could be first to fall in global collapse
Interesting times to say the least
Source: https://www.youtube.com/watch?v=sSdE1hqPOmA
Thank you Pete. This chap hsa been predicting all this for some time, and now the chips are on the table!! He always said it was not a matter of if, but when. Here it goes!!
Yes danceaway, I’ve been the same, not a question of if, but when
I even managed to persuade my 40 something kids to clear their debts and they did! So pleased about that…
Maybe they can still kick the can down the road but it’s hard to see how. Great Reset anyone?