No Way Out of Huge Global Debt | https://www.themorganreport.com
Economic analyst and financial writer David Morgan is worried about the huge unpayable global debt. Is a debt implosion in the cards? Why is it that at least three dozen countries around the world are telling people to prepare for an emergency and telling them to stockpile food, water and medicines? Who knows what the “emergency” will be, but the debt is real, it’s not going away and it continues to grow. Morgan says, “I think the main thing is governments see infrastructure and supply chains that are vulnerable. There is not a known specific disaster that is imminent. The debt problem is not imminent, but it is eventual. There is no way out of a debt based monetary system that absolutely must increase the money supply. . .. There is no way to establish fiscal responsibility that creates debt but does not create the interest at the same time to pay it off. This means you must continually increase the money supply to pay off the money that has already been loaned out. That cycle goes only until it’s not trusted anymore, and there is less and less trust every day. Will it happen by the end of this year? I doubt it. Will it happen by the end of next year? It’s more likely. Will it make it until the end of 2028? Personally, I doubt it.”
Morgan contends gold and silver will trade in a narrow range until the end of the year. In 2027, Morgan thinks both metals will “grind higher.”
On the financial system, a big bank in Paraguay just collapsed and left millions of depositors holding the bag. Is this the tip of the iceberg in a sea of other troubled global banks that have reported debt problems recently? Morgan is worried about the so-called “bail-in.” Morgan explains, “The way the system is now is so corrupt, and they just put it in our faces. They do whatever they want regardless of the law. . .. However, if it’s you and your local bank, and there is a problem, your money could very well disappear because of the bail-in. . .. When this happened in Cypress, and all the people got equity in their bank, it was worth about 5 cents on the dollar. They lost 95% in this example.”
What keeps Morgan up at night? Morgan says, “A cyber-attack, if there was a cyber-attack on a big money center bank, a brokerage house, Treasury auction or the bond market, that’s what worries me. It’s going to be extremely difficult to find out who did it. . .. It could be blamed on ‘them,’ you know, the Chinese, North Koreans, Russia or the Middle East. This gives the powers-that-be a perfect excuse to implement a new system. . .. Your account will be reinstated in the new system, and it will be fool proof because it will be based on a real ID. All you have to do is come in and give us a retina scan to reinstate your account. . .. and they will say, sorry for the inconvenience for this vicious attack on our financial system that is so important for our lives. That is what keeps me up at night.”
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