Article Image
IPFS News Link • Gold and Silver

"Hold Gold As Insurance" - Stockman Warns 'Reset' Means "A Crash Of Epic Prop

• Zero Hedge

Via Greg Hunter's,

"A reset is just a pleasant name or a clinical name for a crash of epic proportions, which we will have because the markets are so inflated.  There are trillions of dollars that are at risk.  To put a dimension on this thing or a way of sizing this, is we have a $60 trillion bubble on the balance sheets of 130 million people in American society, but especially in the top 5% to 10% that own a huge share of the assets...

I have no thought about how big the correction will be, but if it were just back to the norm... it would be a $60 trillion correction, and that is a pretty big hole in the bucket.

 If $60 trillion disappears (out of the U.S. economy), it changes everything.  It turns the financial system and economic reality upside down."