By Jack Mullen | Contributing Writer
The Western world economies are based on debt; the markets and banks and financial system at large depends entirely on the creation of new debt each day. You can say confidently the central banking system’s only product is debt and the product has to move.
Over the past 7 years the cost of debt has been steadily marked down with increasing demand satisfied at the price of the devaluing each dollar created. At some point it had to happen where the demand for debt could not be increased or even maintained after its cost approached zero.
THE MARKET FOR DEBT IS DRYING UP