In his latest update, Greg Mannarino states that the US is now the laughing stock of the world as history’s biggest debtor nation.
He states that the entire system is based on the acquisition of debt into infinity, and that the moment we stop borrowing it is over and the system will collapse. This is really a simple transfer of wealth, and the actual transfer of wealth will occur when interest rates begin to spike.
Mannarino states it is time to bet against the debt, and become your own central bank by holding your assets in physical precious metals in your own possession.
Jim Sinclair has long stated that fortunes will be made shorting Treasuries once the bubble bursts. Is it finally time to bet against US debt?
Mannarino’s full update is below: