[reinier]

And with central banks holding so much equities, who will bail out the central banks if the stock market crashes?

We’re getting closer to an international sovereign debt central bank crisis now that we’ve created all this sovereign debt and printed all this money. We’re getting closer to an international sovereign debt central bank crisis where we actually lose confidence in the central banks. Who’s going to bail them out? The answer is the IMF. The IMF will print SDRs and hand them out. Countries will swap them among themselves and re-liquefy the world. It’ll be highly inflationary.

And after people lose confidence in the IMF? Who bails them out? The only thing standing behind the IMF, is gold. Although the IMF is the third largest holder of gold in the world, with close to 3000 tons. After US and Germany.