The grim reality of course is that when the real estate bubble burst the Government was able to “bail-out” private parties. However, when the bond market bubble bursts, it will be the U.S. Government itself that will be in need of the mother of all bailouts. If U.S. taxpayers or foreign creditors are unwilling or unable to pony up, and if the nightmare hyper-inflation scenario is to be avoided, default will be the only option. If misery really does love company, Bernie Madoff’s clients might finally find some comfort. FULL ARTICLE
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3 comments ↓
Another great article from Schiff! The big question, of course, what happens when the bond bubble bursts, who is going to bail out the federal government? The answer. no one.
That’s right Allen. There’s no one left to bail out these crooks! Foreign countries are not going to want to give more and more money to a country that can’t pay it back. Sooner or later the house of cards is going to come down.
If you haven’t seen Schiff’s recent interview with Russia Today, it’s definitely worth the 10 minutes.
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