According to financial expert and book author John Rubino, the world is heading for a debt reset at an ever faster pace.
"We've entered a new stage that feels like one of the final stages of this process - where governments just give up and don't even try to control their finances anymore."
Rubino explains: “The coming monetary reset and what it means for gold and what it means for the rest of the global financial system is saying you don't need a war to collapse. Because we make enough financial mistakes that will get us there in no time without geopolitical turmoil. If you add a big war in the Middle East to the equation, then anything can happen. The scenario, which is now very easy to implement, is that we start shooting in the Middle East, and Russia and China are somehow on the other side. They are helping Iran, and our allies are helping us, and we are starting to use the next generation of weapons that are amazingly powerful. Nobody has a clue what's going to happenwhen we start throwing these things at each other … Oil jumps to $ 100 - $ 150 a barrel, and this is pushing the already extremely fragile global financial system into the abyss. So we get a "big depression," or a money reset, or hyperinflation, or whatever comes sooner rather than later. It is a disaster for everyone when everything flows this way."
Rubino says that the monetary masters “tried to fix the financial system, but could not do it … If you think you are financially beyond the point of no return as a private individual, you borrow as much money as you can and then go broke … Governments around the world start to do it now or behave like that … There is nothing they can do to fix the system. In the US, they tried to fix the system and scale it down, and they found it was impossible. The US central bank cannot raise interest rates without a collapse in the economy … So they basically gave up … They print a lot of currency electronically and dump it into the banking system. The consequence for currency is that it becomes less valuable from year to year … and then you get an explosion … where people just lose faith in currency,because they see the government making it less valuable year after year. Thus, it makes no sense to keep this currency as savings. They spend money as quickly as they receive it."
Finally, Rubino says: “We have entered a new stage, which feels like one of the final stages of this process - when governments just give up and do not even try to control their finances anymore. Well, we have arrived. Then it becomes clear to everyone that this is so, and then your gold soars to the skies. The investment thesis ends up being loaded with precious metals and then heading towards inflation and / or a monetary reset due to past mistakes … The nightmare scenario is that if we already have a financial crisis and then a war with China and Russia, it's inconceivable. I can't factor this into the financial asset price scenario because it's too crazy."