Bank of America has issued a shocking warning about the U.S. dollar and the growing U.S. debt.
“The U.S. national debt is rising by $1 trillion every 100 days,” Michael Hartnett, Bank of America’s chief strategist, wrote in a note to clients seen by CNBC. He added that it’s “little wonder ‘debt debasement’ trades are closing in on all-time highs, i.e. gold [and] bitcoin.”
Woah. And who is going to reign that in? No one for the foreseeable future. Politics is busy finger-pointing one another and arguing about spending money on wars. That is why Moody’s lowered the ratings on the U.S. government from stable to negative.
