Posted by Richard Willett - Memes and headline comments by David Icke Posted on 31 May 2024

The World Has Accumulated A $315 Trillion Mountain Of Debt, And Global Events Will Soon Bring It Crashing Down

By Michael Snyder

I suppose that congratulations are in order.  It is no small feat to pile up a debt of $315,000,000,000,000, and we will never see a mountain of debt of this magnitude ever again after it comes crashing down.  Even though delinquency rates are rising all over the world, as long as conditions remain at least somewhat relatively stable the game will be able to continue.  Unfortunately, conditions won’t be relatively stable for long.  Global events have started to accelerate significantly, and that is really going to shake things up in the months ahead.

According to a report that was just released by the Institute of International Finance, the total amount of debt in the world has reached a grand total of 315 trillion dollars

The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance.

This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II, coinciding with the Covid-19 pandemic.

“This increase marks the second consecutive quarterly rise and was primarily driven by emerging markets, where debt surged to an unprecedented high of over $105 trillion—$55 trillion more than a decade ago,” the IIF said in its quarterly Global Debt Monitor report released in May.

We are in the midst of the greatest global debt binge in the history of the world.

Household debt is at a level we have never seen before, business debt is at a level we have never seen before, and government debt is at a level we have never seen before

Of the $315 trillion debt stock, household debt, which includes mortgages, credit cards and student debt, among others, amounted to $59.1 trillion.

Business debt, which corporations use to finance their operations and growth, stood at $164.5 trillion, with the financial sector alone making up $70.4 trillion of that amount. Public debt made up the rest at $91.4 trillion.

For the moment, conditions are at least somewhat relatively stable, and so everything seems fine.

But it won’t take much to push us over the edge.

For example, during a recent interview with Greg Hunter, Chris Martenson suggested that a Chinese invasion of Taiwan could trigger a sudden meltdown of the bond market

In a new market meltdown, Dr. Martenson sees chaos and gives a hypothetical example: “China attacks Taiwan, and there is a 10 sigma move in the bond market. Oh no, all these derivatives have blown up. These people are supposed to be winners, and these people are supposed to be all losers. No, no, they don’t have any money for that stuff. It’s too complicated. I don’t think anybody understands how this works anymore. I could not find anybody who could tell me the whole thing. I could find people who knew bits and pieces, but they knew their slice. . . . I am trying to stitch this thing all together. I get uncomfortable when I can’t answer the most basic questions, and that is how much risk is there in the system and where is it?”

In short, Dr. Martenson is worried about the whole financial system going down. Dr. Martenson says, “Yes, I am worried about the whole system going down, and that leads to all sorts of speculation. . . . Imagine this, we wake up one day, and the markets are not open on Monday. Oh no, glitch. Problem. Then, it’s two days and not open, three days not open. People are getting worried. Friday, and the markets are still not open. Monday comes, and they say it’s a super big problem, and we don’t know how to resolve it. . . . They offer you 100% value today in a Central Bank Digital Currency (CBDC) account or you can wait it out and hope it gets resolved, and it might take a decade.”

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