The gist is that Warren Buffet wrote $2 Quad-Drillion in insurance policy's to cover western public&private pensions, stock market and all paper assets in west; The actual asset is around $60 Trillion USD, so if&when the system 'collapses' the claims get activated and only the first 1-5% get made 'whole' however the fire-sale of assets means they'll plummet to near zero;
The only way out is that if all claimants or say +90% are culled prior to the collapse, and later collapse of US Dollar;
PPL ask how can this be how can you cover more than you own?
Easy same reason that GLD paper gold ETF is 100x, e.g. they have sold 100X more paper gold than physical gold that they own, they simply 'INSURED" their investors
Like MADOFF said years ago all the US-GOV economy and 'insurance' is a PONZI, he should know;
Here in this case Buffet collected on policy's, e.g. took the premium on 200X more assets than he had, by insuring the insurance, and selling 'derivatives' faux paper on the market;
This is rightly so why MUNGER now dead "Brains of Buffet" called their 'insurance derivatives' the equivalent of a thermonuclear financial bomb.
YES they all want the COLLAPSE, but FIRST all claimants must die, as to not bankrupt the BUFFET insurance tribe
https://bilbobitch.substack.com/p/the-big-picture-why-they-want-to
The gist is that Warren Buffet wrote $2 Quad-Drillion in insurance policy's to cover western public&private pensions, stock market and all paper assets in west; The actual asset is around $60 Trillion USD, so if&when the system 'collapses' the claims get activated and only the first 1-5% get made 'whole' however the fire-sale of assets means they'll plummet to near zero;
The only way out is that if all claimants or say +90% are culled prior to the collapse, and later collapse of US Dollar;
PPL ask how can this be how can you cover more than you own?
Easy same reason that GLD paper gold ETF is 100x, e.g. they have sold 100X more paper gold than physical gold that they own, they simply 'INSURED" their investors
Like MADOFF said years ago all the US-GOV economy and 'insurance' is a PONZI, he should know;
Here in this case Buffet collected on policy's, e.g. took the premium on 200X more assets than he had, by insuring the insurance, and selling 'derivatives' faux paper on the market;
This is rightly so why MUNGER now dead "Brains of Buffet" called their 'insurance derivatives' the equivalent of a thermonuclear financial bomb.