ML-Implode News - von Greyerz - World Must Contend With ~$70 trillion of Unrepayable Bad Debt

... money printing will have no positive long-term effect or benefit whatsoever since printed money is worthless and can never add any value. But it's making the process slow and painful for the world. People are in total denial, the band is still playing and the people are still dancing on the ship... Of course the world would never be able to repay $70 trillion of bad debt. All of this excludes the more than one quadrillion dollars of global derivatives, most of which is worthless. But before any collapse of the 100-year old Ponzi scheme takes place, there will be unlimited money printing that will lead to a hyperinflation.
...
Just look at what's happening in the physical gold market.Â The LBMA reported record gold transactions in April, of plus 25%.Â This is the highest level since gold peaked in September of 2011.Â So physical trading is at the same level where it was when gold was at its peak at $1,900.Â That's extraordinary.Â The level of physical gold trading is incredible.Â We are seeing the same activity now as when gold was at its peak.Â And it proves that all of the selling is in the paper market.

Relevant:

von Greyerz - World Must Contend With ~$70 trillion of Unrepayable Bad Debt