German philosopher Arthur Schopenhauer once said that “all truth goes through three stages. First it is ridiculed, then it encounters strong opposition and finally it is considered to have always been obvious”
Our experiences of the past few years prove his statement beyond doubt.
Five years ago our views on risk were ridiculed. Then when the crisis hit, it became denial that the crisis was of any concern, “it will blow over”. Now, the denial is turning towards acceptance of the fact our governments have run out of other peoples money, and the only was forward is inflation, default, confiscation.
In the article below, how this will occur is laid out in full detail:
The first is a translation/ interpretation of a recent BNP Paribas reportThe second, is from Matterhorn Asset Management
