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1 Apr, 2020 14:28

US economy loaded with ‘debt bombs’ guaranteeing financial collapse – Max Keiser

US economy loaded with ‘debt bombs’ guaranteeing financial collapse – Max Keiser

The 34 percent unemployment rate projected by Goldman Sachs for the US economy looks accurate to former Wall Street stockbroker Max Keiser. He told RT that the rolling financial disaster will continue until the Fed is shut down.

“[There are] no surprises, as this collapse was guaranteed in 2008 when Barack Obama, Timothy Geithner, Hank Paulson, Larry Summers and others loaded the financial system with debt bombs – in the form of derivatives – that are now exploding right on cue,” Keiser said. “After extracting billions, these financial terrorists and their weapons of mass financial destruction are now safely away from the disaster they engineered.”

He explained that “the virus of fiat money has incentivized financial terrorism and malinvestments that are the underlying cause of the failure to respond to Covid-19 in any meaningful sense.”

Also on rt.com US stocks dive amid dire government warnings about spread of deadly pandemic

According to Keiser, the unemployment and economic crisis will continue as long as “a private consortium of unaccountable central bankers are allowed to print unlimited amounts of worthless fiat money – US dollars – backed by extortion and violence.”

Talking about the sectors which will be the hardest hit during the crisis, he said that anything involving physical human interaction, like cruises, movie theatres, shopping malls etc., “will die off or be fundamentally restructured.” The virtual world of online commerce, communication and content distribution will thrive, he said.

“A pause in the crisis will occur when the Fed’s balance sheet reaches 100 percent of GDP of $20 trillion. Right now, they are at $5 trillion. So, I expect another $15 trillion of so-called asset purchases before nerves are temporarily calmed,” Keiser said.

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