Debt Bomb Going to Explode in Sept 2015 -David Morgan & Greg Hunter Video
By Greg Hunter’s USAWatchdog.com
Renowned precious metals analyst David Morgan is out with a new book called “The Silver Manifesto.” In a chapter called “The Debt Bomb,” Morgan lays out the biggest problem and the biggest reason to own precious metals. Morgan contends, “Basically, the United States have exported our inflation to every other country. So, for them to stay competitive, they are required to weaken their own currencies for what is called competitive advantage. It simply means if they don’t print . . . their currencies would become too strong, and they would not be able to export. In order to keep trade flowing, these other countries are basically required to do what the U.S. government does, and that is export a great quantity of un-backed paper promises that are impossible to pay back. That’s the crux of “The Debt Bomb.” It’s going to explode. . . . The basic premises are: You default on the debt . . . or you keep kicking the can down the road, and you continue to debase the currency, which is what governments have always done when it’s a non-backed currency. If you look at the value of the Federal Reserve from 1913 to now, in a little over a hundred years, the Federal Reserve itself will admit that 100 cents is now worth about 4 cents. So, you have lost 96% of the value of the U.S. dollar. . . . That has been a failure, a tremendous failure. That is a collapse in slow motion. Now, what we are really arguing about is what’s going to happen to the last 4 cents of the U.S. dollar. . . . It looks to me that at some point, a tipping point, that you will get an acceleration . . . and things will change dramatically.”
On the Greek debt crisis, will it be forced to default? Morgan says, “Yes, and the problem is everyone in power is acting like a bunch of kids. No one wants to be an adult and state the problem clearly. This new regime in Greece actually has. They are the only truth tellers at the political level that actually said we are bankrupt.”
On the price of silver, Morgan says, “What is $16 silver compared to $5 silver over a decade ago, and basically they are the same price. Isn’t that amazing, this inflation that nobody talks about. It you take the $5 silver price back in 2003, and you use the true money supply of fiat currency today, hey guess what, it is pretty close to $16. So, in a nut shell, because you are buying the same silver for basically the same amount over a decade ago, it’s really on sale. It is really a bargain.”
When might the economy and the “debt bomb” explode? Morgan predicts this fall. Why? Morgan says, “Momentum is one indicator and the money supply. Also, when I made my forecast, there is a big seasonality, and part of it is strict analytical detail and part of it is being in this market for 40 years. I got a pretty good idea of what is going on out there and the feedback I get. . . . I’m in Europe, I’m in Asia, I’m in South America, I’m in Mexico, I’m in Canada; and so, I get a global feel, if you will, for what people are really thinking and really dealing with. It’s like a barometer reading, and I feel there are more and more tensions all the time and less and less solutions. It’s a fundamental take on how fed up people are on a global basis. Based on that, it seems to me as I said in the January issue of the Morgan Report, September is going to be the point where people have had it.”
Join Greg Hunter as he goes One-on-One with silver guru David Morgan of Silver-Investor.com.
(There is much more in the video interview.)
After the Interview:
If you would like to buy David Morgan’s new book “The Silver Manifesto,” please click here.
Related Posts:
- Dollar Value Could Suffer Instant Change-David Morgan
- A Run to Silver and Gold unlike Anything in History of Mankind-David Morgan
- Oil Derivatives Explosion Double 2008 Sub-Prime Crisis-David Morgan
- Greece Will Default-Calamity Follows-Andrew Hoffman
- The Chaos is Planned-Rob Kirby
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