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Greg Hunter, "Media Blackout on Dire Global Debt"

Wednesday, September 12, 2018 1:49

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“Media Blackout on Dire Global Debt”

By Greg Hunter’s USAWatchdog.com

“Trader/analyst Gregory Mannarino says the public is not getting the truth about the dire debt and currency problems in the global financial system. Mannarino explains, “People here in our country are not being allowed to see what is going on outside of the United States. The mainstream media (MSM) outlets are doing everything they possibly can to keep people misinformed and uninformed. This is what is happening right now. On a global scale, the world is overdosing on debt. I cannot stress that enough. So, what we are witnessing here in regard to the emerging markets is a currency meltdown. World central banks are colluding with the leaders, and they honestly have no choice because the party ended in 2008. They have done all they can to re-inflate bubbles by introducing debt on every single living soul on this planet, unlike we have ever seen in the history of the world. When this thing hits a point of maximum saturation, we are going to see cracks or the debt market let go before everything else, and that’s exactly what we are seeing here. The currency meltdown in the emerging markets, these are units of debt. These currencies are unbacked liabilities being dispersed by bankrupt governments. It’s the same thing here in America where our debt-to-GDP ratio is now over 100%. It all comes down to keeping the world awash in debt because that is the way the system functions. Last time, in 2008, we bailed out the banks. This time, we are going to bail out countries.”

Mannarino points out that other people are giving warnings that something is very wrong. Mannarino says, “Bloomberg put out an article last week of worries of a contagion. Again, it’s a crisis of the currencies we are seeing in the emerging markets. There is going to be a moment of reckoning where every single thing is going to correct to fair value. It’s kind of like the music stopped but the people are still dancing. Don’t take my word for it. Listen to Ray Dalio who just put out a warning and said be prepared for a meltdown worse than 2008. He also expected to see social unrest right here in the United States like we have never seen before.”

Mannarino says the crisis really takes off when we can no longer borrow money into existence. Mannarino explains, “There is a full blown debt crisis in Europe and in the United States. The crisis is if we don’t continue to borrow and find ways to borrow ever more cash into existence. If we don’t, the whole system will melt down. When we hit the moment of maximum saturation, what happens to the currency? What happens to the debt as a whole? It evaporates. Let’s say we don’t pay the national debt anymore. What does that do? Well, the dollar in your pocket, the euros in your pocket, is connected to that debt. What happens if you stop paying the debt? The dollars in your pocket go up in smoke immediately. They are not worth anything. They lose massive amounts of value.”

In closing, Mannarino predicts, “If debt is maxed out and it just evaporates, we will lose half the world population in a very short amount of time.”

“Join Greg Hunter as he goes One-on-One with Gregory Mannarino,

founder of TradersChoice.net.“

https://usawatchdog.com/

Source: http://coyoteprime-runningcauseicantfly.blogspot.com/2018/09/greg-hunter.html

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