Home Economy Chris Martenson: “There Won’t Be Any Recovery From This…Own Gold”

Chris Martenson: “There Won’t Be Any Recovery From This…Own Gold”

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Via Greg Hunter’s USAWatchdog.com,

Futurist and economic researcher Chris Martenson says a collapse is “a process, not an event.”

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Martenson contends the long awaited global collapse, on many fronts, has not only started, but is picking up speed. Martenson says,

“Our prediction at PeakProsperity.com is these collapse trends, we have been following for 10 years now, are accelerating and continuing. None of them are reversing at this point in time. These will impact people’s future in a huge way. Environmentally, we see these signs, but we also have $245 trillion of debt in the global economy. We have been accelerating that debt cycle as if we could just keep that trend going forever—we can’t. So, what we see are all these unsustainable trends converging. They are going to happen . . . and people need to be ready.”

Martenson lays out the case to blame central banks for much of the geopolitical and economic friction in the world today. Martenson says,

“The economic pie is not expanding anymore. It’s kind of stagnant. So, if you have one tiny group taking their fair share and the pie isn’t growing, it means they are taking from somebody else. This is the essence of central banking. They don’t create wealth, they redistribute wealth. When the Federal Reserve crams rates to zero, the savers lose out, but lose to who? The winners and losers are being picked by the central banks, and they have decided that the .01% should be the winners in this story and everybody else should be the losers…

Central bank policies have really benefited the elites at the expense of everybody else. This brings up the most important point and that is central banks are not our friends. They are redistributive organizations.”

Martenson also says, “Our view is if we get into a war that it will be so devastating, there really won’t be a recovery from it.” As for the elite, Martenson says,

“It’s time to panic. . . . They have thrown in the towel, they have caved and are ready to go back to the print-a-thon thing. That is concerning because the financial world can’t even manage stopping their bond purchases, let alone reversing them without them panicking . . . . When a central bank can’t even flatten out their balance sheet purchases, you should be panicking.”

Central banks cannot stop the money printing without the whole system blowing up. Maybe that is why gold is going up? Martenson says,

“I believe it is. . . . I buy gold because gold is the only form of money that is not simultaneously someone else’s liability. We are talking about a world so saddled with debt, I am not sure where all the liabilities lie. I don’t trust . . . the accounting of major corporations. I don’t trust what derivatives will do in a crisis. . . . This is the ‘Everything Bubble.’ What happens when it bursts? We don’t know. So, gold, to me, is the thing I want to own and hold when you have a systemic crisis.

Join Greg Hunter as he goes One-on-One with Chris Martenson, co-founder of PeakProsperity.com.

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via zerohedge

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