Buckle your seat belts. Bob Moriarty, 321gold.com founder, pulls no punches in his latest exclusive interview with The Gold Report . He sees a short-term rally in the stock market but paints a very sobering longer-term picture with "guaranteed hyperinflation." He believes precious metals and other "things" are the only safety nets.
Snippet:
BM: What we have done is guaranteed hyperinflation in the United States. We have guaranteed the destruction of the United States. We will have riots starting in the first quarter of next year; we will default by the summer of 2009.
TGR: Default on how many of the bonds? All? Or just some?
BM: 100%. The US government is going to default. Treasuries, Fannie Mae, Freddie Mac, the whole lot. Its the end of empire. The United States government will not exist in its current form a year from now.
TGR: When you say "its current form," what form will it take?
BM: I dont know. Its a really good question. Im sure it will be a total state of chaos. I mean weve never been here. I think the analogy of the Soviet Union is probably the closest; we could break up into a series of little fiefdoms. But heres whats important to understandthe United States government has failed at every single level. It is too big; it is too unwieldy; it doesnt work.
TGR: So, what does it mean? Weve got impending chaos in the United Statesand the financial markets will continue to go downward. Are we talking globally or U.S.?
BM: U.S. primarily, but globally because the U.S. is so important. The U.S. is the linchpin right now, but the rest of the world is going to have to learn to get by without the United States. What George Bush and Dick Cheney have done is essentially destroyed the United States; they have bankrupted the country. We are going to end up having our troops march out of Iraq to the nearest border because we can no longer afford to pay for them. Were going to go into Zimbabwe-type inflation where theyre printing off $200 million dollar bills to buy a loaf of bread.
TGR: Other than moving to a nice island in the Caribbean, what does an investor or a resident of the U.S. do?
BM: You have to prepare; first of all, its important to prepare mentally and that means doing some education. Second, you dont want to be in debt. You dont want to be buying real estate. You dont want to be taking any chances financially whatsoever. You want to be investing in real resources: good solid producing gold companies or silver companies or energy companies. You want to really hunker down.
FULL REPORT
"You dont want to be taking any chances financially whatsoever."
ReplyDelete"You want to be investing in real resources: good solid producing gold companies or silver companies or energy companies."
OOoooooooooooooKay!
Arent stocks valued in US dollars? How else would you invest in companies? Wont real estate(that is paid for) do well in hyperinflation? I dont understand this. This doesnt make sense.
ReplyDeleteWe are all going to die! Bwahahahahaha....
ReplyDeleteYou are all doubters. Denial is systemic and epidemic. Denial won't help you, form together unit groups within your neighborhood and hope for the best. Research victory gardens and learn about the Libertarian political party maybe there is a chance we can re-build a country like our forefathers envisioned.
ReplyDeleteThe doubters are the people who starve to death. They are the individuals who refuse to believe that a massive change is upon us. They keep thinking everything will be OK and the government will help them... Sheeple at its best.
ReplyDeleteIt's time everyone wakes up and starts preparing. Learn to be self sufficient and start storing up food, water and ammo for the coming chaos. The strong and prepared will survive.
ReplyDeleteRice is a good protein, and will last for years if kept dry and vermin proof. Buy canned goods, I would suggest for enough to last for a year. Those who prepare will make it, those who laugh and scoff, won't.
ReplyDeleteAnyone who wishes to listen to this guy might as well buy a gun and blow your head off. Someone forgot to tell the Bond Market, happens to be sitting at historical highs. If this were true who would be buying bonds when in six months they would default?
ReplyDeleteWait...Hyperinflation is great for debtholders, because it devalues their debt! If it takes 2000 million to buy a loaf of bread, how easy is a former $12,000 credit card balance to pay? Why does he recommend getting out of it if his predictions are true?
ReplyDeleteThe doubters probably scoffed at early warnings about the coming sub-prime mortgage and economic collapse. Did they laugh in September 2008 when it all came true?
ReplyDeleteHard times are coming for this nation- but my life won't change much- I live day to day, hand to mouth anyway. By choice! Happy is as happy does. :}
ReplyDelete