James Turk-Another 2008 Financial Calamity Is Coming

Every financial expert agrees on two things: The global debt is unsustainable, and the world is headed for a calamity. The only question remains is when will it happen? James Turk, founder of GoldMoney.com, says, “That’s the million dollar question that everybody is trying to figure out. What’s going to be the trigger that brings it all down? You are trying to predict the future, and sadly, nobody can do that. The best we can do is prepare for the future, and that’s what China is doing. That’s why China is creating a parallel payment system. . . . That’s why China has created the AIIB, and that’s why China has been accumulating gold. As we prepare for the future, we should be thinking along the same lines as China is thinking. Buy gold, buy resources and minimize as best as you can the counter-party risk that comes from financial assets. We don’t know what the trigger point is, but we know from history and the mathematics that it cannot be serviced, and we are going to have some kind of a problem. It’s just like 2008. We’ve got another one of those coming.