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Rule – We’re At Risk Of A Spectacular Collapse Of Confidence
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
kingworldnews.com / August 6, 2012
With virtually all markets trading higher today, King World News interviewed one of the wealthiest and most street-smart pros in the business, Rick Rule. Rule told KWN we are now at risk of, “… a spectacular collapse of confidence, circa 2008.”
Rule, who is now part of Sprott Asset Management, discussed the enormous problems the West faces. He also spoke about what investors should be doing with their money in this environment, but first, here is what he had to say about the problems the West faces: “We have a serious issue in the United States. At the federal level, the shortfall in the US is $85 trillion and that doesn’t include state and local debt. They are trying to deal with this issue by pumping money into the system.”
Rick Rule continues:
“If we have $85 trillion in net present liabilities at the Federal government level, how is it going to make it better by taking it up to $87 trillion or $88 trillion? I think you see this manifested in the market, Eric. The transaction would seem to be that the Fed, in some way shape or form, adds short-term credit to the banking system, and then convinces the banks to buy government securities.
There are a whole bunch of strange manifestations of this….
Thanks to BrotherJohnF
2012-08-06 17:19:24
Source: http://silveristhenew.com/2012/08/06/rule-were-at-risk-of-a-spectacular-collapse-of-confidence/
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