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Gold & Bitcoin At Record Highs Are "Huge Dollar No-Confidence Vote" - Rubino Warns US Financial Death Spiral Is "Inevitable & Imminent"

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Gold & Bitcoin At Record Highs Are "Huge Dollar No-Confidence Vote" - Rubino Warns US Financial Death Spiral Is "Inevitable & Imminent"

Via Greg Hunter’s USAWatchdog.com.

Analyst and financial writer John Rubino warned nearly four months ago of a “U.S. Financial Death Spiral.”




This past week, Bank of America caught up to Rubino and issued a warning about a “US dollar death spiral” because the federal government was going deeper in the red by creating “$1 trillion in new debt every 100 days.”

Maybe this is why gold and Bitcoin have been hitting new all-time highs day after day. Rubino says, “When a building was worth $200 million and someone sells it for $48 million, that means there is a loss that someone has to take. Those losses are mostly on the books of regional and local banks. So, they are in big trouble financially..."

"You will get these massive bank runs that the government will have to step in and bail out. This is one of many things that will happen in the not-so-distant future. This will impact government finances in a scary way that will send people’s attention to the currency. In other words, if we have another $3 trillion bailout on top of everything else that’s going on . . .what is that going to do to the dollar?

...Currencies are being inflated away with all these bailouts, deficits, wars and all these things that are going on that are bad for the currency. So, people start selling government bonds, which push up interest rates and blows up even more bad real estate and paper . . . until you get a debt spiral, a real live financial death spiral than cannot be fixed...

I was talking to a real estate guy the other day, and he said this is not just inevitable, it is imminent. It is happening now. It is happening quickly, and it is going to hit the headlines...

In this case, what is inevitable in commercial real estate is also looking imminent.”
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Rubino goes on to say, “The numbers are not lost on the guys running the big investment banks and the big media outlets. They are sitting around, and they are thinking we have to say something about this because this is obviously a very big financial story. So, we have to report on it. Finally, the numbers have gotten big enough with the deficits and government interest costs..."

"...that this is a story that cannot be ignored anymore. It’s got to be pretty far along before they reach that point because they really don’t want to report on this. To report on this is seen as a betrayal of the establishment, and they are part of the establishment. They are playing on that team. The debt numbers are finally big enough that they can’t be ignored anymore, and that implies that we are getting near the end of the road.”
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Gold and Bitcoin both hit all-time new highs this past week. What does it mean? Rubino explains,

“This means the market is speaking, and it’s concluding these currencies have a problem. Capital is flowing into the alternatives. It’s flowing into the old kind of money that has held up for thousands of years like gold or the possible new kind of money like Bitcoin that has come on relatively recently (when compared to gold)...

In either case, it is a vote against the dollar. When gold and Bitcoin are both spiking, it is a big vote of no confidence in the dollar.”
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In closing, Rubino says, “There is no way to know how this plays out in the next six months, but this should terrify the central banks."

" By the way, the big central banks are behaving as if they are terrified because they are aggressively buying gold. They have bought about 1,000 tons of gold in each of the last two years. 1,000 tons is a fourth of the gold that comes out of all the gold mines in a given year. So, that is a major purchase, and they take the gold off the market. They don’t turn around and sell it. They put it away as a reserve asset. The gold is effectively disappearing. This makes the market even tighter, and this is also part of the reason why gold is going up.”
Click to expand...

There is much more in the 42-minute interview.

Join Greg Hunter as he goes One-on-One with financial writer John Rubino and his new enterprise called Rubino.Substack.com for 3.9.24.

To Donate to USAWatchdog.com Click Here

John Rubino is a prolific financial writer, and you can see some of his work for free at Rubino.Substack.com. There is even more cutting-edge original information and analysis if you subscribe.

Tyler Durden Mon, 03/11/2024 - 06:30

Continue reading...
 
Let me summarize it in a simple way

Understanding the Issue:
  • Federal Debt: The U.S. government's increasing debt, driven by massive deficits, is raising alarms about the long-term value of the U.S. dollar. As the debt grows, so does the interest burden, leading to fears of a potential collapse in the dollar's value.
  • Impact on Banks: Rubino highlights how declining real estate values and other financial losses are impacting regional and local banks, which hold much of this debt on their balance sheets. If the value of these assets continues to fall, it could lead to significant financial instability.
  • Market Reactions: The rising prices of gold and Bitcoin are seen as a hedge against this uncertainty. Both assets are traditionally viewed as stores of value in times of economic turmoil. Investors are turning to these assets as they lose confidence in the stability of fiat currencies like the U.S. dollar.
Implications:
  • Gold and Bitcoin: The all-time highs in gold and Bitcoin suggest that investors are increasingly worried about the future of traditional currencies and are seeking safer alternatives.
  • Future Uncertainty: Rubino's closing remark—that the future is uncertain and potentially terrifying—echoes the broader concern that the current trajectory could lead to a severe financial crisis. The unpredictability of the situation leaves central banks and governments in a difficult position as they try to manage these risks.
This situation reflects a broader trend of increasing skepticism about the sustainability of current economic policies and the stability of the global financial system. The reaction in the markets suggests that these concerns are being taken seriously by investors, leading to significant shifts in asset prices.
Administrator said:
Gold & Bitcoin At Record Highs Are "Huge Dollar No-Confidence Vote" - Rubino Warns US Financial Death Spiral Is "Inevitable & Imminent"

Via Greg Hunter’s USAWatchdog.com.

Analyst and financial writer John Rubino warned nearly four months ago of a “U.S. Financial Death Spiral.”



This past week, Bank of America caught up to Rubino and issued a warning about a “US dollar death spiral” because the federal government was going deeper in the red by creating “$1 trillion in new debt every 100 days.”

Maybe this is why gold and Bitcoin have been hitting new all-time highs day after day. Rubino says, “When a building was worth $200 million and someone sells it for $48 million, that means there is a loss that someone has to take. Those losses are mostly on the books of regional and local banks. So, they are in big trouble financially..."



Rubino goes on to say, “The numbers are not lost on the guys running the big investment banks and the big media outlets. They are sitting around, and they are thinking we have to say something about this because this is obviously a very big financial story. So, we have to report on it. Finally, the numbers have gotten big enough with the deficits and government interest costs..."



Gold and Bitcoin both hit all-time new highs this past week. What does it mean? Rubino explains,



In closing, Rubino says, “There is no way to know how this plays out in the next six months, but this should terrify the central banks."



There is much more in the 42-minute interview.

Join Greg Hunter as he goes One-on-One with financial writer John Rubino and his new enterprise called Rubino.Substack.com for 3.9.24.

To Donate to USAWatchdog.com Click Here

John Rubino is a prolific financial writer, and you can see some of his work for free at Rubino.Substack.com. There is even more cutting-edge original information and analysis if you subscribe.

Tyler Durden Mon, 03/11/2024 - 06:30

Continue reading...
Click to expand...
 
^^^ DXY Is just toilet paper, and oneday millions of people will be wiping their asses with it. USD will be a new in God we trust pulp pile of crap.
 
its a debt based system when there is always dollar shortage, the interests are never ever payable in full.
you cannot say nobody wants them, since the debtors like it or not they must have them to redeem their indebtedness
in such a case when Japanese bonds holders got to cut their losses, yet American banks can delay for as long as possible hold to maturity.

when brics are not using them anymore, they will not get draged down the black hole.

it is not a paper based system that when the gold got taken away, the paper is worthless.
 
Binance seized funds of all Palestinian users at Israel's request - exchange rejects requests to unfreeze assetsCrypto exchange Binance blocked all the assets of Palestinians at the request of the head of the Israeli Defense Ministry. Moreover, all appeals against the decision were rejected - the organization is not going to return the frozen capitals. Users received only a letter informing them that the Israeli Defense Minister has the right to issue an order to temporarily freeze the assets of an organization declared a terrorist organization.
photo_5366569664102132407_y.jpg
 
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