Rubino contends, "Government debt is going to soar going forward no matter what..."

"Whether we have three more years of growth or a recession next year, we are going to see massive new deficits and massive increases in government debt all over the world. This is coming at a time when we have already hit record levels of debt and blown right through previous record levels. The last crisis, that almost ended the global financial system, was debt driven. The next one is going to be that much, much more serious because we basically doubled the amount of debt that's out there since 2005 and 2006."

On the political front, Rubino says, "The idea that things get more extreme from here is not that out of the ordinary and not that hard to believe..."

"We are not just going to see gridlock here in the U.S., we are going to see chaos. That means of the things that should be gotten done, very few of them will be...

Political chaos is good for precious metals . . . both metals are way undervalued."