I discussed in last week's article how I expect stocks and property to decline maybe as much as 90%. Most people will consider this as sensational speculation and impossible but similar falls have happened in history before. And at no previous time in history has there been a credit bubble of a magnitude that the world is facing today. Previously individual countries have experienced depressions, often preceded by hyperinflation. But never before has every single industrialized country had a century of the exponential growth of credit, asset prices and inflation which is likely to lead to a global collapse.

False growth based on fake money

It is, of course, impossible to time the end of a 100-year supercycle bubble. It has already gone on for much longer than many of us thought was possible. But governments, central banks as well as commercial banks have succeeded in pumping endless amounts of money into the system to keep the Ponzi scheme going.