Trump’s Budget Deficits Bigger Than Obama’s: Party Is Over ~ Nullify The Fraudulent Debt
Donald Trump Displaying The Illuminati/NWO Pyramid Symbol.
We’ve been talking a lot about the rising levels of debt – both government and household. Set in an environment of rising interest rates, this is a huge problem very few people seem concerned about.
We’ve been enjoying a big party and it’s about to come to an abrupt end.
When it comes to the federal debt, the big question is who is going to buy all of the bonds the government will need to sell to finance the spending?
Of course, rising federal debt is nothing new. Pres. Obama did his share of spending. But in an interview with Stefanie Kammerman during the Orlando Money Show, Peter Schiff pointed out a troubling difference between then and now.
When we got the tax cuts passed, that is a huge negative for the bond market because it means much bigger deficits, because now the government has to borrow the money it used to collect in taxes. But now they just passed this new budget resolution, which is a massive increase in spending.
The budget deficits now, under Trump, are actually going to be bigger than they were under Obama when we were in the worst recession since the Great Depression. This is unprecedented borrowing. And when Obama was running these big deficits, the Fed was monetizing them. They were doing a trillion dollars a year of QE. Now, they’re not doing any.
So, that means we’re going to have a massive increase in interest rates. That means stocks collapse. That means we’re going into a recession. Because the only thing that has been propping up the economy and the stock market has been artificially low interest rates – extremely, unprecedentedly low interest rates.”
On top of that, levels of personal debt are also spiraling upward.
Everybody is loaded up with debt. We have record high student loans, record high credit card debt, record high automobile debt. The savings rate is at a 10-year low.
Everybody is loaded up with debt, and the only reason that we can afford it is because the rates are so low. Well, they’re about to go a lot higher and the party is over.”
Peter reiterated what he’s said in past interviews – he doesn’t think the Fed is going to stay on this path. It will ultimately try to save the stock market and sacrifice the dollar.
I think it’s only a matter of time before the Fed cancels the rate hikes, fesses up to rate cuts and launches QE4. But the problem is it ain’t gonna work this time.
It’s going to blow up in their face because that is basically the nail in the dollars coffin.”
Peter said this is going to send the price of gold through the roof.
Political Vel Craft 