Greg Hunter of USAWatchDog, a former mainstream media correspondent for CNN, ABC, etc., gathers some disturbing trends regarding a potential currency crisis:
Gold hit an all-time high this week—again. The yellow metal briefly topped $1,500 an ounce before falling back down a few dollars. The world has become increasingly nervous about the size of the growing U.S. debt. Just this week, America’s debt topped $14.3 trillion (also an all-time high) which is close to the limit Congress can legally borrow. A recent CNSNews.com report shows why the $38 billion, that was just cut, is a drop in the budgetary bucket.
The report said,“Friday’s $34.54-billion jump in the national debt almost equaled the $38.5 billion the Republican House leadership said would be cut from spending for the remainder of this fiscal year by the continuing resolution that the Congress passed on Thursday and President Obama signed Friday. The federal government is now perilously close to hitting its legal limit on debt.”
Odds are the debt ceiling will be raised by more than $1 trillion. Meanwhile, the Fed is printing more than $75 billion a month to finance 70% of the U.S. budget. The math of this screams currency crisis 2011!
The warning signs over the past few weeks are monumental. The world’s largest bond fund, PIMCO, recently sold ALL of its U.S. Treasury bills.
Read the full story. Very informative.
