Could a Fed rate hike start the bond market to liquidate? Mexican billionaire and retail magnate Hugo Salinas Price contends, “Apocalypse is upon us . . . this boom in stocks is about to collapse. The total debt when Reagan came into office was $391 billion. Now, it’s $20 trillion. Something has got to give. When interest rates start to go up, as they might on March 15th, we are going to see liquidation. People are going to say bonds are falling in value because interest rates are going up, I think I want to sell my bonds. . . . I also think the stock market is going to collapse, a big collapse is coming. I also think gold is being hammered in preparation for what’s going to happen. I think it has been taken down, so, when it starts to go up, it will go up from a lower level.”
So, will we get hyperinflation? Salinas Price says, “I don’t know if it’s going to happen right now, but something is going to happen with this huge amount of debt. It just can’t go on, and how is it going to end? It’s going to end badly. A lot of wealth is going to disappear. . . . I think, in the U.S. on March 15th, all hell is going to break loose because the U.S. will reach its debt limit.”
Join Greg Hunter as he goes One-on-One with billionaire financial expert Hugo Salinas Price.
Mexican politicians are considering a monetised silver currency for Mexico.
Russia has thought about it too. Peru would copy the move if Mexico goes ahead.
The world’s money was silver until 1816 along with gold.