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IPFS News Link • Economy - Recession-Depression

Guggenheim Says Central Bank-Driven 'Ponzi Scheme' Must Collapse

• Bloomberg Quint

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Scott Minerd has a message for his fellows at Davos who are applauding rallying markets: Things aren't as good as they seem.

The Guggenheim Partners investment chief likened the inflation of asset prices caused by the loose money policies of central banks to a "ponzi scheme" that eventually must collapse.

"We will reach a tipping point when investors will awake to the rising tide of defaults and downgrades," he wrote in a letter from the World Economic Forum meeting. "The timing is hard to predict, but this reminds me


 


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