Home » Market Analysis » Inflate or Die Ponzi Scheme – Bill Holter
Inflate or Die Ponzi Scheme – Bill Holter
By Greg Hunter On June 24, 2018 In Market Analysis 98 Comments
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Financial writer and precious metals expert Bill Holter thinks the long awaited debt reset has already started. Holter explains, “I think the reset is already in motion. . . . Credit is what created values and pricings that are incorrect. Just look at the Fed, they are talking about quantitative tightening (QT). They are talking about pulling $600 billion, I think, by the end of this year, and they can’t. There is no way. If you go back to Richard Russell ‘inflate or die.’ That is what this is. You cannot take capital out of a Ponzi scheme and expect it to stand up. That’s what this is. It’s a Ponzi scheme, and the Federal Reserve is bluffing, saying they are going to pull quantitative easing (money printing) out, and they are going to reverse it and take that out of the system. There is no way that can be done.”So, the Fed must know this. So, are they just playing for time? Holter contends, “They are timing it and . . . I do believe there will be some type of event that fingers can be pointed at and say, look, if it wasn’t for this, maybe a war or who knows what the false flag event or real event it will be, they are going to point at something and say our policies were working, and everything would have been fine except for x, y and z or whatever they point their fingers at. . . . The staggering figure today is the production rate is still 6% lower than when we went into this recession in 2007 and 2008. So, production is still below those levels, and that means we’ve gone 10 years with zero expansion . . . but debt has doubled. Production is not where it was 10 years ago, and debt has doubled.”
The debt reset is going to involve a new currency to replace all the debt based currencies in the world today. Holter says, “The SDR (Special Drawing Rights) I think will be tried first as a new reserve currency. It’s made up of global currencies. It’s going to fail because it’s still fiat. You’ve got to bring gold back into the system. There has to be something behind a currency to bring back confidence. Confidence is going to break, and the only thing that will bring back confidence is you have to make things real again because we live in a world where everything is false. When confidence breaks, it will be like the slogan in the State of Missouri, ‘Show Me.’”
Holter goes on to say, “I think the discussion is about timing and how the system is going to come down. There are also discussions of what is going to be the next reserve currency. I think that’s the discussion that is going on behind the scenes for two or three years, maybe longer. The problem is too much debt, and we know from the past when debt bubbles grow and grow and get too big, they pop. This is the biggest debt bubble by many multiples of any bubble anytime in history. When the debt bubble blows up, everything runs on credit, and that means things are not going to run. It’s going to be somewhat dysfunctional. We are right on the cusp of the yield curve inverting, and history shows when that happens, we have a 100% chance of going into a recession. . . . I think this year the truth that we lived above our living standards is coming out, and we are going to have to pay the piper. I don’t know when . . . but the system is going to go down.”
Holter also says gold and especially silver are “the most undervalued assets on the planet.”
Join Greg Hunter as he goes One-on-One with Bill Holter of JSMineset.com.
(This interview will cover the coming global debt reset, analysis of a new reserve currency backed in part by gold and the timing of when this all goes down.)
The debt reset is going to involve a new currency to replace all the debt based currencies in the world today. Holter says, “The SDR (Special Drawing Rights) I think will be tried first as a new reserve currency. It’s made up of global currencies. It’s going to fail because it’s still fiat. You’ve got to bring gold back into the system. There has to be something behind a currency to bring back confidence. Confidence is going to break, and the only thing that will bring back confidence is you have to make things real again because we live in a world where everything is false. When confidence breaks, it will be like the slogan in the State of Missouri, ‘Show Me.’”
Holter goes on to say, “I think the discussion is about timing and how the system is going to come down. There are also discussions of what is going to be the next reserve currency. I think that’s the discussion that is going on behind the scenes for two or three years, maybe longer. The problem is too much debt, and we know from the past when debt bubbles grow and grow and get too big, they pop. This is the biggest debt bubble by many multiples of any bubble anytime in history. When the debt bubble blows up, everything runs on credit, and that means things are not going to run. It’s going to be somewhat dysfunctional. We are right on the cusp of the yield curve inverting, and history shows when that happens, we have a 100% chance of going into a recession. . . . I think this year the truth that we lived above our living standards is coming out, and we are going to have to pay the piper. I don’t know when . . . but the system is going to go down.”
Holter also says gold and especially silver are “the most undervalued assets on the planet.”
Join Greg Hunter as he goes One-on-One with Bill Holter of JSMineset.com.
(This interview will cover the coming global debt reset, analysis of a new reserve currency backed in part by gold and the timing of when this all goes down.)
The system "banking" is going down. Man that knows about finances.
Cryptos are speculation by Kevin Lawton. Bitcoin war and transaction speed.
Gold setting up for Huge spike. Michael Pento
Financial Collapse Will Trigger Civil War-Doug Casey
By Greg Hunter In Political Analysis 176 Comments
By Greg Hunter’s USAWatchdog.com
Best-selling author Doug Casey wrote “Crisis Investing” at the time when the U.S. political landscape was transitioning from the Carter Administration to the Reagan Administration. Now, Casey sees a coming crisis that is equal or worse than the Civil War. Casey explains, “In the U.S. right now, there seems to be so much antagonism it’s almost like pre-Civil War. There is actually hatred in the U.S. at this point. It used to be the Republicans and Democrats could disagree, but they could have a civil conversation about a difference of opinion. Now, it’s active hatred between these two groups. This is not going to end well.”
Casey thinks the coming financial collapse will be the trigger. Casey says, “It’s going to come down eventually. I am worried about that, but we are in a situation where the country seems like it is just before a civil war. It will be more serious than just a financial collapse, and it is likely to be set off by a financial collapse.”
Casey says financial markets are all in bubble territory, but the bond market is in the biggest bubble of them all. Casey contends, “What papered things over? Why did it get better for the last few years? These governments have lowered interest rates to not just zero but less than zero in parts of the world. They have created scores of trillions of new currency units which have poured oil on the financial waters. That currency still exists and it’s going to come out, and it’s going to evidence itself in the form of retail inflation. So far, it’s just been inflation in the financial markets. They’ve created a bond super bubble. They’ve created a stock market bubble. They have created a real estate bubble in a number of places in the world. So, this is going to be very, very ugly. It’s hold on to your hat time.”
What is this going to look like to the man on the street? Casey says, “The country has been living way above its means. The U.S. runs about a trillion dollar trade deficit with the rest of the world, but it’s a great deal for us. The U.S. prints up dollars and we ship them dollars, and they send us Sonys and Mercedes and coffee and all sorts of things imported into this country, but that can’t go on forever. So, what’s it going to look like? It will be very high levels of inflation. In 2007 to 2009, people lost their jobs. When a society is living above its means, people like waiters and bartenders . . . they’re fired because people are going to have to do those things for themselves. So, you are going to see lots of unemployment. There could be a lot of social upsets in this country.”
What about gold and silver? Casey says, “A number of governments around the world, not the U.S. but the Russians and the Chinese, are buying a lot of gold. Why? Because it’s the only financial asset that is not simultaneously somebody else’s liability. It doesn’t matter whether we have runaway inflation or catastrophic deflation, the gold is there. It’s an actual asset unlike the paper governments’ print up. There is no point in owning paper today because interest rates are so low. Interest rates are below the level of actual inflation at this point. People should buy gold and they should buy silver. . . . They’re going to both go up. I’ll say this again, gold and silver are the only assets that are not simultaneously someone else’s liability. So, there is going to be a panic into them at some point, and some point soon I think.”
Join Greg Hunter as he goes One-On-One with financial expert Doug Casey, and
Casey thinks the coming financial collapse will be the trigger. Casey says, “It’s going to come down eventually. I am worried about that, but we are in a situation where the country seems like it is just before a civil war. It will be more serious than just a financial collapse, and it is likely to be set off by a financial collapse.”
Casey says financial markets are all in bubble territory, but the bond market is in the biggest bubble of them all. Casey contends, “What papered things over? Why did it get better for the last few years? These governments have lowered interest rates to not just zero but less than zero in parts of the world. They have created scores of trillions of new currency units which have poured oil on the financial waters. That currency still exists and it’s going to come out, and it’s going to evidence itself in the form of retail inflation. So far, it’s just been inflation in the financial markets. They’ve created a bond super bubble. They’ve created a stock market bubble. They have created a real estate bubble in a number of places in the world. So, this is going to be very, very ugly. It’s hold on to your hat time.”
What is this going to look like to the man on the street? Casey says, “The country has been living way above its means. The U.S. runs about a trillion dollar trade deficit with the rest of the world, but it’s a great deal for us. The U.S. prints up dollars and we ship them dollars, and they send us Sonys and Mercedes and coffee and all sorts of things imported into this country, but that can’t go on forever. So, what’s it going to look like? It will be very high levels of inflation. In 2007 to 2009, people lost their jobs. When a society is living above its means, people like waiters and bartenders . . . they’re fired because people are going to have to do those things for themselves. So, you are going to see lots of unemployment. There could be a lot of social upsets in this country.”
What about gold and silver? Casey says, “A number of governments around the world, not the U.S. but the Russians and the Chinese, are buying a lot of gold. Why? Because it’s the only financial asset that is not simultaneously somebody else’s liability. It doesn’t matter whether we have runaway inflation or catastrophic deflation, the gold is there. It’s an actual asset unlike the paper governments’ print up. There is no point in owning paper today because interest rates are so low. Interest rates are below the level of actual inflation at this point. People should buy gold and they should buy silver. . . . They’re going to both go up. I’ll say this again, gold and silver are the only assets that are not simultaneously someone else’s liability. So, there is going to be a panic into them at some point, and some point soon I think.”
Join Greg Hunter as he goes One-On-One with financial expert Doug Casey, and
Doug Casey Research High unemployment and book.
Home » Weekly News Wrap-Ups » Interest Rate Explosion, Russia Did NOT Hack Elections, Facebook Fake News Police?
Interest Rate Explosion, Russia Did NOT Hack Elections, Facebook Fake News Police?
By Greg Hunter In Weekly News Wrap-Ups 136 Comments
By Greg Hunter’s USAWatchdog.com
The Federal Reserve just raised a key interest rate a quarter of a point. This was only the second time in 10 years the Fed raised rates, but the market had already beaten the Fed to the punch. In July, the interest rate for the 10-year Treasury was 1.46%. Five short months later, the same rate is now more that 1% higher. This is what it means when you hear the phrase “the Fed is behind the curve” on interest rates. Losses in the global bond markets are stacking up with the rising rates. Now, there are reports that China and other central banks are dumping U.S. debt at an alarming rate. More than $400 billion in U.S. government bonds was sold this year alone. Could rising interest rates knock Donald Trump’s plans for a loop? The answer, in a word, is yes.
How many times has the mainstream media (MSM) said that the Russians hacked DNC emails and influenced the election in Trump’s favor? How many times has the same MSM said Trump doesn’t believe it? Plenty in both categories, but why hasn’t the MSM said what the FBI has been saying all along? That is “The Russians didn’t influence the election.” This is the latest from FBI Director James Comey. Comey also says James Clapper, who is the Director of National Intelligence, agrees with the FBI that the Russians did not influence the 2016 election. Case closed.
It looks like Facebook is going to start policing so-called “fake news” on its platform. Is this really stopping fake news, or inhibiting free speech to counter points of view of the liberal left?
How many times has the mainstream media (MSM) said that the Russians hacked DNC emails and influenced the election in Trump’s favor? How many times has the same MSM said Trump doesn’t believe it? Plenty in both categories, but why hasn’t the MSM said what the FBI has been saying all along? That is “The Russians didn’t influence the election.” This is the latest from FBI Director James Comey. Comey also says James Clapper, who is the Director of National Intelligence, agrees with the FBI that the Russians did not influence the 2016 election. Case closed.
It looks like Facebook is going to start policing so-called “fake news” on its platform. Is this really stopping fake news, or inhibiting free speech to counter points of view of the liberal left?
2017 PREDICTIONS ON MSM & GOLD BY GERALD CELESTE
Gregory Mannarino - bond market, stock bubble, housing bubble , silver , gold etc
James Rickards-Huge inflation coming with coming economic meltdown.
2017 Predictions for MSM, Markets and Gold-Gerald Celente
By Greg Hunter On November 20, 2016 In Political Analysis 192 Comments
By Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Top trends researcher Gerald Celente started forecasting back in May 2016 that Trump would win. He was spot-on. What are the big trends and predictions in store for 2017? Mr. Celente gives us three of his top predictions coming up in this interview. We start with the mainstream media (MSM) that went all in for Hillary Clinton with actions associated with propaganda and not news. What’s going to happen to the MSM in 2017? Celente, who is Publisher of The Trends Journal, says, “It’s gone, and that is the top story coming out in the next Trends Journal too. . . . We are forecasting that this is the end of daily newspapers. They’ll go down to a couple of days a week. The flipside is more people to USAWatchdog.com and other media. We are not alternative media. They are the alternative media. They are the media that only promotes the establishment. The establishment is Hollywood to the White House to the media, and the people are disgusted with it. This is bigger than a populist movement.”
The MSM is now so discredited that it is beyond the point of no return. Celente goes on to say, “I was saying up until recently about the mainstream media that they still have the clout to set the tone. Now, they don’t. Look at how many newspapers supported Hillary Clinton in editorials, all of the major papers, and it didn’t amount to anything. The facts are there, and again look at the numbers. The bottom line is they are falling out of profitability, and they can’t sustain themselves. That’s the bottom line. News Corp., and one after another, its business is 20% down. You can’t keep a business going like that.”
On the economy, Celente says a crash is coming, and gold is flashing a warning signal overseas. Celente contends, “It almost happened this year with Brexit, but again you are looking at the paper world and the real world, and they keep manipulating it. As you see gold prices going down, is anyone talking about what is going on in India? They just pulled in the high end rupees. There is panic going on over there. They are buying up gold, and they are one of the biggest gold purchasers in the world, and add China. Nobody is talking about it, and there is bedlam going on right now. They are saying they want to stop the black market, so people are buying up gold, but they are shorting the market with naked shorts on the commodities end to drive down the prices because when prices go up, it shows what a fraud the whole system is. So, right now, from our contacts there, the gold buyers in India are buying up as much gold as they can.”Celente goes on to predict, “We’re forecasting the economy is not going to rebound with the economic proposals that are in place now. . . . The global situation has created an environment for financial panic. The financial panic conditions have been in place for quite a while. What Trump’s victory has done is played it off for a little bit possibly, but on the negative side, you still have the debt and interest rates going up and the debt that has to be paid. On gold, we believe right now is near its bottom.”
Join Greg Hunter as he goes One-on-One with the trends forecaster Gerald Celente, Publisher of The Trends Journal.
(There is much more in the video interview.)
The MSM is now so discredited that it is beyond the point of no return. Celente goes on to say, “I was saying up until recently about the mainstream media that they still have the clout to set the tone. Now, they don’t. Look at how many newspapers supported Hillary Clinton in editorials, all of the major papers, and it didn’t amount to anything. The facts are there, and again look at the numbers. The bottom line is they are falling out of profitability, and they can’t sustain themselves. That’s the bottom line. News Corp., and one after another, its business is 20% down. You can’t keep a business going like that.”
On the economy, Celente says a crash is coming, and gold is flashing a warning signal overseas. Celente contends, “It almost happened this year with Brexit, but again you are looking at the paper world and the real world, and they keep manipulating it. As you see gold prices going down, is anyone talking about what is going on in India? They just pulled in the high end rupees. There is panic going on over there. They are buying up gold, and they are one of the biggest gold purchasers in the world, and add China. Nobody is talking about it, and there is bedlam going on right now. They are saying they want to stop the black market, so people are buying up gold, but they are shorting the market with naked shorts on the commodities end to drive down the prices because when prices go up, it shows what a fraud the whole system is. So, right now, from our contacts there, the gold buyers in India are buying up as much gold as they can.”Celente goes on to predict, “We’re forecasting the economy is not going to rebound with the economic proposals that are in place now. . . . The global situation has created an environment for financial panic. The financial panic conditions have been in place for quite a while. What Trump’s victory has done is played it off for a little bit possibly, but on the negative side, you still have the debt and interest rates going up and the debt that has to be paid. On gold, we believe right now is near its bottom.”
Join Greg Hunter as he goes One-on-One with the trends forecaster Gerald Celente, Publisher of The Trends Journal.
(There is much more in the video interview.)
Morgan
By Greg Hunter On November 23, 2016 In Market Analysis 129 Comments
By Greg Hunter’s USAWatchdog.com
Precious metals expert David Morgan says trillions of dollars of negative interest rate paying bonds is a sign we are getting close to another financial calamity bigger than the last. Morgan explains, “Now, as everyone knows, we are even at negative interest rates, and people are buying into this. They are guaranteed to get less back. . . . This is the upside-down world we are living in. This is the scientific planet that is our reality. So, this is the reason you will see a run to the dollar before you see a run to gold. . . . We are in the final step before another 1% of the population takes action into the precious metals. When the run starts, it won’t be because 90% of the population wakes up and says I need precious metals to protect my financial wellbeing. What will happen is another 1% will wake up and say I need precious metals to protect my financial wellbeing. That will double the market. The physical gold market is less than 1% of all financial assets, and the silver market is about .02% of all financial assets. So, it doesn’t take a big amount of new money to put the paper price at stratospheric levels, and that’s what will take place. When people don’t trust the dollar they are holding in their hands, when that happens, there will be a run into gold that will be in the financial record books. . . . The dollar is going up, up and up, and it will peak. Once it starts down, it will start down kind of slowly, and then, it will build momentum. Then, it will hit terminal velocity. It will hit a level that it has accelerated to its maximum point and will continue until it hits the ground. . . . As that occurs, more and more people will be motivated to move into the precious metals. The door is very narrow, and there will be a big flood of people wishing to get through that door. It’s going to come down to you will either have it or you won’t.”
On the question of whether or not Trump will prosecute the Clintons about pay-to-play accusations and the Clinton Foundation, Morgan says, “Certainly this is like the interest rate swaps, and all these global entities in the global banking system are interconnected. I mean if you have a failure in one, it’s systemic. It goes throughout the whole system. That’s a good analogy for the Clintons. This failure of the Clinton dynasty goes throughout the entire system. They are so connected and it goes across party lines. There is no doubt about that.” So, there is no telling how the Clinton question will actually play out.
Will the Trump Administration have an economic calamity in the bond market because of the heavy global debt load? Morgan says, “Yes, something will take place before the four years is over. I can almost guarantee that. The math is just too simple to see, and you are already seeing it in the bond market. I am very confident because how the bond market is reacting and the amount of paper that has been pushed upon the system that cannot tolerate any more. Things will unravel in some way, shape or form. . . . I think before that four year time frame (Trump’s first term) is over, we are going to see that big thrust into the precious metals.”
Join Greg Hunter as he goes One-on-One with David Morgan, author of the new book “Second Chance: How to make and keep big money from the coming of the gold and silver shock-wave.”
(There is much more in the video interview.)
On the question of whether or not Trump will prosecute the Clintons about pay-to-play accusations and the Clinton Foundation, Morgan says, “Certainly this is like the interest rate swaps, and all these global entities in the global banking system are interconnected. I mean if you have a failure in one, it’s systemic. It goes throughout the whole system. That’s a good analogy for the Clintons. This failure of the Clinton dynasty goes throughout the entire system. They are so connected and it goes across party lines. There is no doubt about that.” So, there is no telling how the Clinton question will actually play out.
Will the Trump Administration have an economic calamity in the bond market because of the heavy global debt load? Morgan says, “Yes, something will take place before the four years is over. I can almost guarantee that. The math is just too simple to see, and you are already seeing it in the bond market. I am very confident because how the bond market is reacting and the amount of paper that has been pushed upon the system that cannot tolerate any more. Things will unravel in some way, shape or form. . . . I think before that four year time frame (Trump’s first term) is over, we are going to see that big thrust into the precious metals.”
Join Greg Hunter as he goes One-on-One with David Morgan, author of the new book “Second Chance: How to make and keep big money from the coming of the gold and silver shock-wave.”
(There is much more in the video interview.)
Big thrust into Precious Metals by David Morgan
Money Riots Possible in Next Economic Crash-James Rickards
You can see interview with James Rickards on U Tube video:- https://youtu.be/OWnVgumM5lQ By Greg Hunter In Market Analysis 172 Comments
By Greg Hunter’s USAWatchdog.com
Three time best-selling author James Rickards says the next economic crash will lock you out of your money. Rickards has a new book titled “The Road To Ruin.” Rickards paints a scary possible scenario for what is coming and contends, “The global elites have a secret plan for the next financial crisis.” Rickards goes on to explain, “They are going to lock down the system when the crisis hits. In 1998, everybody wanted their money back, and they printed the money. In 2008, everybody wanted their money back, and they printed the money. In 2018 or sooner, everyone is going to want their money back, but they are not going to print the money. They are going to tell you that can’t have it. They are going to lock down the system and close the banks. Money market funds are going to suspend redemptions. Stock exchanges are going to be closed, and they’ll say it’s ‘temporary.’ That’s what Nixon said when he closed the gold window in 1971. . . . They will do it to buy time until they can flood the market with SDR’s (Special Drawing Rights IMF currency).”
So, do we get inflation or deflation in the upcoming economic crash? Rickards says, “You might get some deflation first, but I don’t expect that because central banks are trying so hard to cause inflation. The natural state of the world is deflation right now. . . . But governments can’t have deflation, it destroys the tax base. . . . So, you have natural deflation and policy inflation, and they are pushing together. It’s an unstable equilibrium, and at some point, it is going to snap one way or another. If it is deflationary, and I don’t expect this, the policy will be even more money printing. . . . As far as the SDR’s are concerned, it will certainly be inflationary. . . . You may not be able to save the world, but you can save yourself and family by getting into some assets that will stand this inflation and be non-digital. Any digital money can be locked down with a few key strokes. Non-digital money such as gold, silver, fine art, land, natural resources, water and there is a long list of things . . . those are the things that are going to last. . . . The other point I make is that when this happens, it will happen very quickly. . . . You won’t know it in advance, and the stock market will be closed when you decide to get out of the stock market. You may not be able to get gold. Right now, you can get it . . . but in a panic when it’s going up $100 per ounce per day, you’ll be watching the price go up, but you won’t be able to get it.”
Rickards predicts a complete lock down of the global financial system for “at least weeks and possibly months.” Rickards contends, “Definitely weeks and perhaps months, and it could turn into Mad Max. It could turn into what I call money riots with people burning down banks, but the elites are ready for that also. . . . What they have done because you can’t turn the military into police, they turned the police into military. As the money situation gets worse, states and elites will not go down without a fight.”
Join Greg Hunter as he goes One-on-One with renowned financial expert and best-selling author, James Rickards, whose latest book is titled “The Road To Ruin.”
So, do we get inflation or deflation in the upcoming economic crash? Rickards says, “You might get some deflation first, but I don’t expect that because central banks are trying so hard to cause inflation. The natural state of the world is deflation right now. . . . But governments can’t have deflation, it destroys the tax base. . . . So, you have natural deflation and policy inflation, and they are pushing together. It’s an unstable equilibrium, and at some point, it is going to snap one way or another. If it is deflationary, and I don’t expect this, the policy will be even more money printing. . . . As far as the SDR’s are concerned, it will certainly be inflationary. . . . You may not be able to save the world, but you can save yourself and family by getting into some assets that will stand this inflation and be non-digital. Any digital money can be locked down with a few key strokes. Non-digital money such as gold, silver, fine art, land, natural resources, water and there is a long list of things . . . those are the things that are going to last. . . . The other point I make is that when this happens, it will happen very quickly. . . . You won’t know it in advance, and the stock market will be closed when you decide to get out of the stock market. You may not be able to get gold. Right now, you can get it . . . but in a panic when it’s going up $100 per ounce per day, you’ll be watching the price go up, but you won’t be able to get it.”
Rickards predicts a complete lock down of the global financial system for “at least weeks and possibly months.” Rickards contends, “Definitely weeks and perhaps months, and it could turn into Mad Max. It could turn into what I call money riots with people burning down banks, but the elites are ready for that also. . . . What they have done because you can’t turn the military into police, they turned the police into military. As the money situation gets worse, states and elites will not go down without a fight.”
Join Greg Hunter as he goes One-on-One with renowned financial expert and best-selling author, James Rickards, whose latest book is titled “The Road To Ruin.”
Home » Political Analysis » USA Actually Bankrupt Now-Laurence Kotlikoff
USA Actually Bankrupt Now-Laurence Kotlikoff
By Greg Hunter On October 26, 2016 In Political Analysis 191 Comments
By Greg Hunter’s USAWatchdog.com
Renowned Boston University Economics Professor Laurence Kotlikoff is running for President with a write-in campaign. He says we need an economic expert, not a politician, to fix our severe financial problems. Dr. Kotlikoff explains, “Our democracy is in trouble. We have 14% of the electorate who have chosen Hillary Clinton for us to vote for, and a different 14% have chosen Trump to vote for. The vast majority of the population realizes neither Clinton nor Trump are qualified. Just on the economic front, these folks have no idea how fiscally sick our country is. The fact that we have off-the-book liabilities that make our true debt roughly 15 times larger than the amount the government is actually reporting, so, our true debt is about $206 trillion. The debt the Congressional Budget Office is telling us about is about $13.5 trillion. . . . We’re short $206 trillion. The country is 53% underfinanced. So, the country is actually bankrupt right this minute. It’s not $206 trillion in the future that we owe, it’s $206 trillion today. It’s our credit card bill, and we’re broke.”
Kotlikoff goes on to say, “So, if you put everything on the books, we’re broke, and we’ve been printing money out the wazoo since 2007 to pay Congress’s bills. That’s the truth about quantitative easing. We need to have somebody who knows what’s going on in the big picture here and has a game plan to get rid of this fiscal gap, and do it without total chaos. If we leave things the way they are, people will view the country as leaderless fundamentally and printing money to pay its bills. Then, the expectation will occur, and that’s going to raise rates, and that’s going to drop bond prices, and that will sink the banks, and, yes, you can have another great recession like Bill Gross is referencing (bond super nova). I’ve been saying this for decades. The time for the last straw to drop on the camel’s back, and when it’s going to drop that camel is hard to say. If you look at the fundamentals, and the fundamentals look like that of an emerging country, we are the most indebted developed country relative to GDP of any country around. We are in worse shape, I believe, than Russia or Greece, and far worse shape than Italy.”
Join Greg Hunter as he goes One-on-One with Professor Laurence Kotlikoff, who is running for President in 2016 with a write-in campaign.
Kotlikoff goes on to say, “So, if you put everything on the books, we’re broke, and we’ve been printing money out the wazoo since 2007 to pay Congress’s bills. That’s the truth about quantitative easing. We need to have somebody who knows what’s going on in the big picture here and has a game plan to get rid of this fiscal gap, and do it without total chaos. If we leave things the way they are, people will view the country as leaderless fundamentally and printing money to pay its bills. Then, the expectation will occur, and that’s going to raise rates, and that’s going to drop bond prices, and that will sink the banks, and, yes, you can have another great recession like Bill Gross is referencing (bond super nova). I’ve been saying this for decades. The time for the last straw to drop on the camel’s back, and when it’s going to drop that camel is hard to say. If you look at the fundamentals, and the fundamentals look like that of an emerging country, we are the most indebted developed country relative to GDP of any country around. We are in worse shape, I believe, than Russia or Greece, and far worse shape than Italy.”
Join Greg Hunter as he goes One-on-One with Professor Laurence Kotlikoff, who is running for President in 2016 with a write-in campaign.
We Are Approaching a Market Crash
BOND MARKET IN CRISIS
Future economy by one of the most qualified professionals in the economy James Rickards