from USA Watchdog:
Financial writer and trader Gregory Mannarino predicts that big debt defaults are coming.
Mannarino contends, “We are starting to see this with Greece and Puerto Rico here. It’s everywhere. This is a global problem and it’s going to engulf the world. This debt problem is going to swallow the earth. They have done this on purpose. They cannot be this stupid. . . . They are doing this on purpose and there is going to be no soft landing. It is a global issue and it is going to implode.”
Mannarino says the current financial system is dying and it was designed to die. Mannarino explains, “It’s a debt based system, and we are at the end of it now—period. This is why this is occurring—why? We are seeing equities inflate while we are seeing deflationary spiral with commodities, and it may get worse. People are going to start to realize that the debt is no good, and then cash is no good.
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