It is an economic trend of our time and a sign of political incompetence: the spiral of public debt! The United States and the eurozone, to take just two of the most prominent examples, will continue to increase their mountain of debt exponentially this year and in the years to come. The pathetic attempt by central banks to save their fiat money from final devaluation by drastically ramping up interest rates must be seen as a failure against the backdrop of exploding government debt and the financing of this debt with the printing press. If it is not the central bank that is taking the newly issued government bonds onto its balance sheet, then it is state pension funds or guarantee promises from the state's central bank to the banking sector that are ensuring that the market can still absorb all this insolvency waste. The only option for private investors is to flee forwards and they should be urgently warned against doing so, even if it seems opportune in view of falling interest and inflation rates to even look at these toxic securities from the side. Anyone who has mutated into a yield-hunting interest fox in recent years, motivated by a minimal rise in interest rates on overnight or fixed-term deposits, has (once again) allowed themselves to be blinded by the fiat circus. The flight to safety is already in full swing!