Andrew Hoffman: Full Default of Global Debt Coming. Endgame for the Gold Cartel Coming

[youtube=https://www.youtube.com/watch?v=rhVahBlBFnY]

• Andrew Hoffman: Full Default of Global Debt Coming. Endgame for the Gold Cartel Coming
  by Greg Hunter’s USAWatchdog.com
  Financial writer Andrew Hoffman says the Fed has a lousy track record for predicting the economy. Hoffman explains, “It’s not just the Fed, but all central bankers have been wrong on pretty much everything they have said. In the case of the Fed, in particular, which is by far the most important central bank in the world because what they . . . do destroys everyone else, it’s been three years, and they have been talking about economic recovery, and then they decide to raise rates just as the economy gets the absolute worst in our lifetimes. We are getting closer to the Yellen reversal when she is forced by markets to admit they have been wrong.”
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  Hoffman, who is a former Wall Street oil analyst, points out, “Oil is about to go under $30 a barrel, and it may go a lot lower. This is an historic imbalance, and it’s not just crude oil, but all commodities. . . . There has been too much money printing for too many years and too much financial engineering and cheap and easy loans, which has created a gargantuan oversupply of absolutely everything. Former Fed President Richard Fisher just went on CNBC and . . . literally said we manipulated the market because it was falling and we created a bubble, and guess what? It’s bursting, and there is nothing you can do about it. . . . One by one, they are all saying they were wrong. Greenspan is saying it. Bernanke is hinting at it. A lot of Fed governors that are leaving are hinting at this, and pretty soon, the whole world will know it.”
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  On the Fed raising interest rates again, Hoffman says forget it and explains, “You can’t have interest rates go up in the slightest—at all because we already have the highest indebtedness in the entire history of the world, not just here, but everywhere. On top of that, you created all this excess supply that never would have come to being, like all this oil. . . . I believe that when you couple that with all this debt, there is only one thing that can happen and that is a full default of all these billions and trillions of dollars of debt. Then, of course, the only thing central bankers know how to do is print money . . . and that’s what they are going to do until they hyper-inflate every currency in the world. . . . When I look at the balance of evidence, it’s impossible for me to consider a scenario where something extremely bad doesn’t happen in the next 12 months.”
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