from SilverDoctors
John Rubino from DollarCollapse.com joins Silver Doctors to expose deficit spending recently sped up. The U.S. rate of debt accumulation is back over one trillion dollars per year. China and other countries are taking similar actions. But this is nothing compared to the debt expansion that lies ahead. Watch out for the next downturn, Rubino warns. “When tax revenues plunge and the private sector start to contract, we’re going to see a huge panic on the part of governments and central banks.”
Does it matter who wins the U.S. presidential election? “There’s no way that a president Trump stops the debt binge.” And if we stop borrowing, Rubino says, we collapse. “Some kind of financial crisis is pretty much baked into the cake.”
Inflation is coming, Rubino says. When people start seeing their savings shrinking, they will move into real assets, especially gold and silver. “The instability that is created by people rushing out of cash and into real stuff and pushing up the prices of real stuff, will cause the financial markets to possibly spin out of control.”
Rubino also discusses the Deutsche bank crisis. With a derivative book bigger than the entire European economy, if Deutsche bank goes, it takes Europe down with it, Rubino says. But could Deutsche bank be a distraction from an even bigger threat? Find out in this interview…