"Inflation Has Run Amok"
By Greg Hunter’s USAWatchdog.com
DiMartino Booth points out the biggest problem the world faces now is record global debt near $250 trillion “that few can conceive a workable solution.” Di Martino Booth says, “It really does keep me up at night because of the nature of debt. As we approach the 10 year anniversary of Lehman Brothers, the one takeaway that many have forgotten in the decade that has passed is that you don’t know where the true ticking time bomb is when there is an over-indebted problem. When systemic risk is released, it cannot be contained by any higher authority and potentially be unleashed. The greatest peril of debt is we don’t know where the danger truly lies until something triggers it.”
Where could the next debt problem be? DiMartino Booth says, “There are trillions and trillions of dollars of leverage in this country that are not regulated by any entity and could cause problems in and of themselves. Can I rattle your memory with Angelo Mozillo and Countrywide? Again, a big company that was not regulated, and look at these problems, these subprime unregulated lenders caused way back when. If you want the parallel today, look at private equity and the trillions of dollars they control in our financial system where basically nobody is looking over them. The fox has taken over the hen house. That’s what keeps Jay Powell up at night, and that’s what keeps me up at night. There is more leverage than in 2008. If you are gauging it on the fact that we used to have a $160 trillion to $170 trillion in global debt, and now we have $250 trillion in global debt, yes, things are worse. Things are definitely worse.”
DiMartino Booth says the simple way to protect yourself is get out of debt. You can also do what the wealthy are doing. DiMartino Booth says, “I am no gold bug, but I can tell you gold is the ultimate hiding place. It is the ultimate place to hide when financial markets are disrupted because when financial markets are disrupted, all of them react in tandem. All of that hooey that you need to have a diversified portfolio, all of that falls apart with one exception, and that would be precious metals.”
Join Greg Hunter as he goes One-on-One with Danielle DiMartino Booth,
the best-selling author of “Fed Up” and the founder of QuillIntelligence.com.