Listening to Ben Davies (of Hinde Capital Management) on King World News, and transcribed this interesting tidbit:
Unfortunately, what people fail to realize today is that the world is really just one big version of Zimbabwe.
Zimbabwe was a microcosm of what we have now. If you notice, every country, almost bar none, has debts that they are unable to repay. And I don’t think people understand that.
The consequences of which we either restructure them, or we have an implicit default which… in our opinion, involves reflation. And as we can see, every government, every country, is embarking on the creation of currency, to devalue their currency…