Podcast Episode #107
by Simon Black
This morning I reached out to my old friend and colleague Peter Schiff to talk about some uncomfortable truths that very few people are discussing right now.
I wrote to you about this yesterday: banks are in trouble. You can’t expect to shut down practically an entire world economy that is in debt to the tune of $250 TRILLION and not expect massive loan defaults.
The last financial crisis in 2008 was caused by a spike in loan defaults. We’re about to see another spike of loan defaults due to all the layoffs and business closures… only this time the problem is much, much bigger than it was in 2008.
And Peter and I discuss some potential scenarios.