We’re In The Exact Same Spot We Were In August 2008

We’re In The Exact Same Spot We Were In August 2008, by Bob Moriarty. The financial doom-mongers are out in force today.

This thing in Turkey is a lot more serious than people realize, the entire world is on the edge of a precipice financially. The world is awash in debt and the piper has just come to the door saying that he needs to be paid. …

We know that every country in the world is bankrupt and we just kicked a hornet’s nest in Turkey. To blame it all on Turkey is just rubbish, and it could have major impacts upon Spanish and French banks that have gotten involved in Turkey in the last decade.

Meanwhile, in China the peer-to-peer banking system is crashing and it’s turning out to be similar to bitcoin because most of it is fraud. Now whether the absolute crash happens in September, October, or November I don’t know and I don’t really care. …

Gold is an insurance policy against stupidity, and we’ve got more stupidity going on in the world today than I have ever seen in my life. Trump has unleashed something in Turkey that he doesn’t even understand, he just kicked a hornet’s nest and in September or October we’re going to learn about the consequences of twenty years of unlimited spending globally. …

The world is awash in debt and all of that debt is worth about as much as used toilet paper. …

There was a coup d’etat in Turkey in July 2016 and Turkey blamed this coup on a pastor named Gulen who lives in Pennsylvania so Turkey arrested a US pastor in Turkey to put pressure on the United States. Now there’s a real good chance that the American pastor is CIA and that’s why Trump is trying so hard to get him. But we are literally destroying Turkey’s economy in order to retrieve an American pastor. Who gives a shit about this guy?

Now when you’ve got one thousand dominoes stacked up you don’t knock over a single domino because you could collapse the whole thing. Now let me ask you another question, when bank’s advertise that they’ve got a billion dollars in assets what exactly are those assets?

On US politics:

There is a coup d’etat underway by the deep state and it’s plain as day. … The deep state can’t be allowed to undermine a sitting President of the United States. The FBI shouldn’t be allowed to determine who the President is.