We’re headed to $100 trillion in negative rate sovereign bonds (up from current $13 trillion). This means governments are defaulting on $100 trillion in debt. For the glitterati, Illuminati, and digerati, this is the crisis they’ll never see coming and will never understand.
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Anyways, portfolio holdings aren’t a secret - pension beneficiaries can always scrutinize them :)
Some other things also create risk. For example, changing things that people saving for their pensions didn't in their wildest dreams expect to be changed.
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P.S. while we're at it let's load up pension funds with these sovereign bonds which were also probably called "extremely low risk" or "risk-free" when they were soldpic.twitter.com/0AXPRoskYG
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