The world is borrowing at levels never seen even in its deepest crises

28.8 trillion dollars
This is the amount of government and corporate debt the world will issue in 2026 alone.

A record.
Unprecedented in history.

But the most disturbing number is not the absolute size
but what it says about the state we’ve reached: global debt-to-GDP ratio has reached 23.3%.

This is higher than the peak of the 2008 crisis, which was at 21.4%.
And back then, the world was burning.

Today, there is no declared crisis.
No pandemic, no obvious bank collapse, no world war.
Yet, governments and companies are borrowing above crisis levels.
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What does this mean for your wealth?
Every dollar, pound, or dirham you keep as cash in your bank account bears the consequences of this decision without being consulted.

The mechanism is simple:
Governments need to finance this massive debt.
Part of it comes from raising taxes.
Part from issuing bonds with higher yields,
which puts pressure on other asset prices.

And the biggest part, which is deliberately avoided mentioning, comes from devaluing the currency by printing more of it.
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The outcome of this equation is inevitable:
What you hold in paper currency today buys less tomorrow.
And the more the world continues to accumulate debt at this pace, the faster this erosion accelerates.

History does not lie.
Every major debt cycle in history has ended with one of two outcomes:
A sharp inflation that dissolves the debt,
Or a painful restructuring that erodes wealth.

In both cases, the holder of cash is the biggest loser.
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What does a smart investor do in this environment?
The answer is not a secret

But applying it requires genuine conviction.
Real assets are the refuge.

Gold is trading near record levels for a good reason—
Central banks themselves are buying it in unprecedented numbers.

Stocks in companies with productive assets,

Real estate that retains its value,

Essential commodities needed by the world,

All are tools to protect purchasing power when currencies erode.

Cash is the danger.
Holding a large portion of wealth in paper currencies in this environment of excessive borrowing is an investment decision—
a bad one.

Cash is not safe; it is an asset systematically losing value.

Geographical diversification has become a necessity.
When governments borrow at these levels, their fiscal and monetary policies start to fluctuate unpredictably.

Relying on a single economy or currency doubles the risks.

In conclusion,
The world is not borrowing to build something great,
but to service old debts with new debts.
This vicious cycle has an end, and historically, paper currencies always pay the price.

The only question you should ask yourself: where does your wealth sit when the bill comes?
In resilient real assets — or in paper that quietly erodes in value?
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