Negative interest rates put world on course for biggest mass default in history
By GCRU Gold News on Wednesday, April 29 2015, 09:31 - Permalink
Here’s an astonishing statistic; more than 30pc of all government debt in the eurozone – around €2 trillion of securities in total – is trading on a negative interest rate.
The flip side of the cheap money story is soaring asset prices. The bond market bubble is just the half of it; since most other assets are priced relative to bonds, just about everything else has been going up as well. Eventually, there will be a massive correction, in which creditors will suffer sickening losses.
Negative interest rates put world on course for biggest mass default in history