By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Precious metals expert and financial writer David Morgan says the entire world is printing huge amounts of money, and nobody ever plans on paying any of it back. It’s all going into the so-called “Everything Bubble” that gets stretched a little more each and every day. With another $1.9 trillion Corona stimulus package that just passed in the Senate, we are getting closer to finding out how much funny money a country can print out of thin air before it all blows up. Morgan says, “It’s all about the currency reset or currency crisis that I have been writing and talking about for so long. So, if you don’t trust the currency du jour, the U.S. dollar which is the reserve currency of the world, you are going to look for some place to go that you trust more than that. I think this is what the Bitcoin phenomenon is all about. Rich people don’t need another country home of a third yacht. So, they are going to put money in something they trust more than the U.S. Dollar. . . . I think it‘s an indicator that there is money, big money, that is scared to death about what’s going to happen with the dollar in the future, and they are seeking a place to park it. There is greed too, but the primary thing they are looking for is something that is outside the system at large.”
Morgan has long predicted a “Great Silver Crisis” is coming. While the price of the white metal has backed off recently, it is still way up from last year. Morgan thinks silver is still the most undervalued asset out there, and he expects more frenzied buying as people flee fiat currencies printed to infinity. He also predicts very big price moves higher at some point after years of manipulation. Morgan thinks, “The Great Silver Crisis’ is starting now.”
Morgan warns, “We are reaching a limit on everything across the board with the ‘Everything Bubble,’ the overvalued ‘Everything Bubble.’ What is not overvalued? It’s pretty much the commodities. We are going from a financial economy where 70% is a consumer economy to an economy of what is needed. This is the commodity sector. You need corn, wheat, rice, soybeans, cotton and look at lumber. I mean all these things are going up. The financial system that is running 40% of the economy is just paper promises going back and forth across trading desks all day. We are not a productive society.”
In closing, Morgan says, “You can hobble along with an injured leg for a long time as a metaphor, but there is a point that you can’t go any further, and I think we are reaching that point. The silver market is signaling something. The Treasury market is signaling something. I think the stock market with the NASDAQ getting hammered is signaling something. I think the Bitcoin surge is signaling something. I think there are a lot of clues out there, that if you stop and look, they are signaling loud and clear that we are getting very close to what I am calling “The Great Currency Debacle” or currency crisis I have warned about for years.”
Join Greg Hunter as he goes One-on-One with David Morgan, publisher of “The Morgan Report.”
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