- Money Printing Gone Off the Rails – James Turk
by Greg Hunter’s USAWatchdog.com
Renowned gold expert James Turk says, “Federal Reserve money printing has gone off the rails, and they are in a situation of inflate or die.”
Inflation is not the only problem because as the money loses buying power, the general public loses liberty. In Turk’s new book “Money and Liberty,” he lays out a direct link between sound quality money and liberty. What we have now is basically increasing inflation, or a decrease in the quality of money, and increasing tyranny. Just look at what has been happening with the CV19 pandemic. Turk explains, “In the system that we have, in order to make it work, you need inflation and regimentation. When you have regimentation, that means cutting back on liberty. . . .They are trying to keep the system going, and as they keep the system going, there is more and more regimentation. . . . The system has come to its end, and we have to recognize that nature gives us everything humankind needs to advance and that includes natural money, which, of course, is gold.”
Turk says, “The Fed can’t raise rates because only a 1% interest rate hike would raise the borrowing cost the government would have to pay out to $300 billion more per year.” What the government can do is spend more money, and that is the problem for all Americans. Turk explains, “Hyperinflation results from government spending at the end of the day. When the government is out of control, its spending is out of control and the central bank turns that spending into currency, and that’s where we are. We are on the path to hyperinflation.”
Turk warns, “There is a coming disaster. . . .I think we are in the early days of a potential financial crisis nearing what we saw in 2008, but it’s likely to be worse this time around because there is a lot more debt in the system than there was back then. Back then, the government bailed out the banks, but this time around, who is going to bail out the government?