David Stockman says gold is the ultimate safe haven

David Stockman, who served as Ronald Reagan’s Budget Director 1980-1984, in this 23- minute video points out why the economy and stocks are headed for major downturns.

Other nuggets gleaned from  this video:

** Joy Rides never end well;

** World equities markets have topped $100 trillion;

** Earnings collapsed 30% in 2020, yet stocks rose 25%;

** Capital is flowing to massively over-valued companies;

** Governments are totally out of control when it comes to money printing;

** Stockman explains the importance of short sellers in dampening declines but says short sellers have been destroyed;

** Federal Reserve is expanding its balance sheet at the rate of $120 billion a month;

** European Central Bank announced it intends on buying $200 billion a month;

** Balance sheet of the Fed was only $500 billion in 2000, now it’s $7.2 trillion;

** Total world debt of $270 to $280 trillion dollars;

** Gold is the only safe haven, an alternative to central bank printing press money;

** Stay away from stocks and bonds, and accumulate gold;

** Only $10 trillion to $12 trillion of gold available to be bought, yet total global assets exceed $400 trillion;

VIEW VIDEO HERE: 23-minutes

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