The Gold Spot™ | Looming Debt Crisis? A ‘Perfect Storm’ is Brewing

“2008 was bad…but I see this being much worse.”
– Sr. Precious Metals Advisor Steve Rand

Nobody was surprised by the Federal Reserve’s decision to raise interest rates by another 75 basis points. However, that doesn’t mean people are watching in silence. Americans are anxiously questioning how long the rate hikes will continue and if the economy is headed for a severe recession.

Much to the disappointment of the public, all signs suggest that the Fed is just warming up in its aggressive use of rate hikes. Our financial czars are already anticipating a whopping 1.25 percentage point jump by the end of 2022.

Jerome Powell reinforced this expectation during a recent speech by pledging to mirror the aggressive rate-hike strategy of former Fed Chair Paul Volcker who pushed rates up to a soul-crushing 16.5% during The Great Inflation of the 1970s.

In a rare moment of candor, Powell admitted that the Fed is prepared to accept the risk of sparking a recession in its last-ditch attempt to rein in inflation. With record high debts already weighing on the economy, this might set up the “perfect storm” for a debt crisis too.

Watch the video to find out what Scottsdale Bullion & Coin Precious Metals Advisor Todd Graf & Sr. Precious Metals Advisor Steve Rand are saying about how the Fed’s strategy will impact the economy and how Americans can protect themselves.

Read more here: https://www.sbcgold.com/blog/looming-debt-crisis-perfect-storm/