Today Nomi Prins, who has given keynote speeches to the World Bank, IMF, Federal Reserve, and many other prominent institutions, told King World News that the US is in fact a giant Ponzi scheme and gold will be $3,500 next year.
Is The US A Giant Ponzi scheme?
May 27 (King World News) – Eric King: “Nomi, I don’t see how people are going to survive continued inflation because I’m not seeing the wages keep up in any way (with inflation). I’m seeing (consumer) credit card (debt) — they’re stretched, they’re to the end of the rope on their credit cards and what they can do with them, so at some point this is all going to break. I hate to say Bernie Madoff and use his name, but it’s almost like what he said is true that the United States is the biggest Ponzi scheme in the entire world. Is there some credibility to what Bernie Madoff said? He’s an expert (in Ponzi schemes).”
The US Is A Fed-Induced Ponzi Scheme
Nomi Prins: “I actually go beyond Bernie Madoff to the actual Charles Ponzi in the opening quote of my last book Permanent Distortion: How Financial Markets Abandoned The Real Economy Forever because I believe it’s the Fed that has created a Ponzi scheme in general and I think we are in the middle of it. (Laughter). My second quote is actually from Isaac Asimov: ‘What is really amazing, and frustrating, is mankind’s habit of refusing to see the obvious and inevitable until it is there, and then muttering about unforeseen catastrophes.’
We Are All Pawns In The Federal Reserve-Induced Ponzi Scheme
So you couple that the fact that I do believe we are sort of the pawns in a Federal Reserve-induced Ponzi scheme. But that doesn’t mean the Fed’s going to realize this. Right now I think the best thing to do would be to keep rates where they are and just kind of let market forces take their toll – that by the Fed doing anything it’s going to impact these dislocations that it’s already stoked. Honestly, I think the Fed should just go away with respect to monetary policy and I think that would make us all better off. However, what I believe they will do…Nomi Prins also predicted the price of gold will hit $3,500 next year and she discussed why the financial markets are going to come unraveled in this powerful audio interview that you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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