The biggest deflation in history involving the destruction of wealth and debt is on the horizon, and a number of factors could spark it.

During the Great Depression, economists estimate that roughly half of U.S. household financial wealth and a very large share of corporate equity value were wiped out between 1929 and the early 1930s. Nine million savings accounts were wiped out as thousands of banks failed in the early 1930s, destroying depositors' wealth in the absence of deposit insurance. Stock market losses of 80-90 percent wiped out portfolios.

This time around could be worse because it is an existential threat to the economic and political system. So, think about: