Via Greg Hunter’sUSAWatchdog.com,
Last time financial writer and precious metals expert Bill Holter (aka Mr. Gold) was on USAW, he saiddon’t even think about selling any gold or silver.One of the big reasons why he is still saying this is the news last week that theUS debt to GDP ratio is now at 100%.
Mr. Gold says, “I have talked for years about how the entire world runs on credit. What we started this off with is the United States is officially a banana republic. It’s 100% debt to GDP..."
"When I was in school in the early 1980s, the definition of a banana republic is when it hit 100% debt to GDP.
In this instance, it is the issuer of the world’s reserve currency that is admitting it is officially a banana republic.
Everything runs on credit. The biggest issuer of credit is the United States, and if their credit card gets declined, then what does that do to the real economy?
Nothing will work. There will be nothing on shelves. Stores will be dark.
The answer is yes becausesomething really bad is right in front of us.It’s a credit collapse.”
So, the Trump Administration is not going to just let everything collapse.
Mr. Gold says,“I think the contingency plan is oil..."
Source: ZeroHedge News
