Rick Santelli goes after the Federal Reserve and the other central banks of the world once again for their culpability in the economic collapse in the below video from CNBC.
It’s been four years since the famous Santelli video went viral in which he admonished President Obama for bailing out the banks and mortgage holders.
Indeed he is correct in voicing concern as the Federal budget deficit has only increased to record levels since. And it looks as if there is no end in sight.
The U.S. federal government will eventually be faced with a choice of either defaulting outright on its obligations or defaulting through inflation by the central bank. My bet is on inflation. I think we could face a situation of mass inflation where annual inflation rates could be 20% or higher. This will be painful for most Americans as they will have their purchasing power wiped out.
You can preserve it however by buying gold and silver and getting out of the dollar.