Debt, Debt Everywhere

Wrapping your mind around the number of stars in the night sky is impossible. Nearly as hard is wrapping your mind around the amount of debt out there.

Earlier this month, for example, the Bank for International Settlement (BIS) warned that the global financial system had $80 trillion of hidden debt that does not appear on any balance sheets. How do you hide $80 trillion?

If you add together all the money in circulation and in standard bank accounts all around the world, you only get $59 trillion.

Read more at “Enough to Make Us Sink”