Illya Gerasymchuk
Entrepreneur / Engineer
the financial system is heavily dependent on refinancing
this is true for both, governments and the public sector - especially the financial institutions
≈70% of all new credit is used for refinancing/repaying of existing maturing debt rather than novel financing
in addition to being a store of value, gold is also acting as an investment
it's up ≈40% YTD
this is gold catching up to inflation and accumulated leverage