Billionaire Gross: Jubilee Debt Relief as Prelude to New Global Economic Order
- The interesting question is: who will be the one to announce a global debt jubilee? Who will be the ‘Savior of the World’ and bring about 3.5 years of ‘peace and prosperity’? He will announce a global debt jubilee via the revaluation higher of the gold price, a quantum jump, many orders of magnitude higher.
– - Billionaire Gross: Jubilee Debt Relief as Prelude to New Global Economic Order
by Bill Gross just made headlines by explaining that Japan was bankrupt and its central bank would have to acquire the nation’s debt and then “forego repayment.”
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What billionaire Gross is talking about here is a debt jubilee. And we’re not surprised. We’ve predicted this after all. I’ve often said that Japan will be the first to fall.
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Nearly a year ago, we launched our Shemitah analysis by predicting near-term market chaos. Markets promptly crashed late in August. Then at the beginning of 2016, we explained that the upcoming year was a historical “Jubilee” and that it would continue to worsen until the end day on October 2, 2016 – though larger Shemitah Trends would be ongoing.
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We’ve been tracking the events of 2016 and they have conformed to our predictions, beginning with a massive stock market pullback and a significant rise in the price of gold against the dollar in the first few months of the year.
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Along the way we’ve taken note of statements about Jubilee 2016, including one from a top executive of the Bank for International Settlements, William White. Just a few months ago, in an explosive statement reported by the UK Telegraph, he said that world debt was impossible to pay down and that a debt jubilee would be necessary to give the world a fresh start.
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Now billionaire bond investor Gross has basically said the same thing. In a Bloomberg interview he said that Japan was out of options and would have to reduce debt by using the central bank to acquire it and “forego repayment.” This approach will likely have to be taken with other countries as well.
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The forgiveness that Gross is talking about is basically a debt jubilee. Central banks acquire debt-laden instruments from bankrupt nation-states and retire them. Maybe they will do the same with the world’s biggest corporations and financial entities such as Deutsche Bank. It’s not an easy process of course, but it may be the only alternative at this point. Europe is reeling. China is plunging into a depression and no matter what Janet Yellen may say, the US is not headed toward recovery: It’s stuck in a perma-depression.
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If White and Gross are both talking about a jubilee publicly, you can bet that there are plenty of others discussing it privately. And just in the past few months a series of billionaires -Soros, Druckenmiller, Rogers and Icahn – have warned of an imminent collapse and have taken massive positions in gold. The world’s situation is getting worse, not better.
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