- Source, USA Watchdog:
Saturday, October 5, 2013
We Are Getting Close to the Debt Edge
Precious metals expert David Morgan says, “You cannot print yourself out of this mess that we are in. We have a massive debt problem, and the only solution they can come up with is ‘add to the debt.’ That will not fix the problem.” Morgan goes on to say, “The problem is the money will become worth less and worth less and nearly worthless at some point in time.” Anyone who thinks this can go on for another decade, think again. Morgan figures, “We’re getting very close to the edge.” Morgan adds, “There’s a limit as to how much money you can print and still have an effect . . . We've reached the limit.” Morgan predicts, “I do not see hyperinflation, I see more disruption or currency crisis. You don’t have to have hyperinflation to have a currency crisis.” Even though Morgan doesn't see hyperinflation, he contends gold and silver prices will head much higher. He sees the true price of gold right now “between $5,000 and $7,000 an ounce” and silver at “$100 per ounce.” Morgan predicts, “I think there is going to be a day in the future that you just can’t get it. The only monetary asset outside of counter-party risk is physical gold and silver.