History doesn't repeat but it sure does rhyme. What would this recession look like if it followed a similar time line to 2008?

2008 Global Financial Crisis

Feb 2007: The first tremors start in the US subprime mortgage market in the US.

September 2007: The first bank runs start with Northern Rock in the UK.

March 2008: The first banks start collapsing with Bear Stearns.

September 2008: Lehman Brothers files for bankruptcy.

October 2008: Iceland's financial sector collapses.

December 2008: Countries across the world start announcing they are in recession.

May 2010: European debt crisis kicks off.

It took 13 months to go from feeling the first tremors until the first banks started to collapse. Below is what todays crisis would look like laid out on a similar time line.

2020 Global Debt Crisis:

September 2019: The first tremors start with a broken repo market in the US.

Feb 2020: Covid19 speeds everything up throwing the world into recession.

May 2020: The first of many sovereign debt crises unfold as Lebanon falls causing citizens to burn down their own central bank.

October 2020: The first banks start collapsing.

April 2021: The first banks start filing for bankruptcy.

May 2021: Entire countries financial sectors start collapsing.

July 2021: Countries across the world start falling into sovereign debt crises as their bond markets collapse and inflation spikes.

December 2022: A global debt crisis has engulfed the world leading to worthless government bonds, 20% interest rates and runaway inflation everywhere.

The IMF is trying to push its SDRs as the next global reserve currency while China is trying to get the world to adopt its new Gold backed Yuan. People have stopped measuring Gold and Bitcoin in fiat and now with fiat having hyperinflated the only currency pair on earth that matters is the Gold/Bitcoin pair. One ounce of gold can buy a new car and one bitcoin can buy 25 ounces of gold.

The XBT/XAU rate is 25. This is now the only currency pair traded and reported on earth.

Submitted June 27, 2020 at 07:30AM by slvbtc https://ift.tt/2Zi1EBG