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“The End Stage Has Begun” – Rubino Warns “We’re Past The Point Of No Return”

Courtesy of ZeroHedge View original post here.

“The End Stage Has Begun” – Rubino Warns “We’re Past The Point Of No Return”

Via Greg Hunter’s USAWatchdog.com,

Financial writer and book author John Rubino sees the world careening toward a debt reset at an increasing pace.

Rubino explains, “The coming monetary reset and what that means for gold and what that means for the rest of the global financial system, you don’t need a war to bring that about because we are making enough financial mistakes that will get us there in no time flat now without geopolitical turmoil…”

“If you add a big war in the Middle East into the equation, then anything can happen. A scenario right now that is very, very feasible is we start shooting in the Middle East and Russia and China is on the other side of this in one way or another. They help Iran, and we have our allies helping us, and we start using these next generation weapons that are breathtakingly powerful. Nobody has any idea what’s going to happen when we start throwing these things at each other… Oil spikes to $100 – $150 per barrel, and that tips the already extremely fragile global financial system over the edge. So, we get the ‘Greater Depression’ or the monetary reset or a hyperinflation or whatever we get sooner rather than later. It’s a disaster for everybody when it happens that way.”

Rubino says the monetary masters “tried to fix the financial system but could not do it.”

Adding that:

If you think you are beyond the point of no return financially as an individual, you borrow as much money as you can, and then go bankrupt…

Governments in the world are starting to do that now or behaving that way… There is nothing they can do to fix the system. In the U.S., they tried to fix the system and scale back and they found out that is impossible.

The central bank in the U.S. cannot raise interest rates without the economy collapsing. . . . So, they basically gave up. . . . They are printing a lot of currency electronically and dumping it into the banking system. . . . The consequence for the currency is to make it less valuable year after year . . . then you get the crackup boom . . . where people just lose faith in the currency because they see the government is going to make it less valuable year after year. So, there is no point in holding that currency as savings. They spend it as fast as they get it.

In closing, Rubino says, “We have entered a new stage which feels like one of the end stages of this process…”

…when governments just give up and don’t even pretend to try and control their finances anymore.

Well, we are there. That’s when it will be clear to everybody that is the case, and then your gold goes through the roof. The investment thesis ends with you loading up on precious metals and then riding the inflation and/or monetary reset that has to happen because of past mistakes

The nightmare scenario is if we are already having a financial crisis and then we have a war with China and Russia, it’s unimaginable. I cannot factor that into a scenario for financial asset prices because it is too crazy.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with John Rubino, founder of DollarCollapse.com.

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