“The U.S. is in an untenable position – between a rock and a hard place – in an inescapable debt trap – where the options are, at best, dire – either hyperinflation or a deflationary depression! It would seem that all we can do is ride out the storm in a boat laden with gold” said Jeff Nielson (BullionBullsCanada.com) in a recent speech* going on to say:
“The U.S.’s severe debt problems are exacerbated by its $70 trillion in unfunded liabilities to fund the social ‘entitlements’ of the mass of baby boomers who will be retiring by the tens of millions in the next few decades and there is absolutely NO likelihood of the U.S. government ever reducing those entitlements. Any attempt to do so would cause severe economic disruptions and civil unrest.”
Nielson maintained that there are numerous practical reasons why the U.S. will make no attempt to alleviate the dire situation.