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Ben Bernanke Says the US Could Be Greece!
Ben Bernanke said in testimony before congress basically that if the United States did not change their fiscal path they would be in Greece’s situation.
Bernanke said, “Even the prospect of unsustainable deficits has costs, including an increased possibility of a sudden fiscal crisis. As we have seen in a number of countries recently, interest rates can soar quickly if investors lose confidence in the ability of a government to manage its fiscal policy. Although historical experience and economic theory do not indicate the exact threshold at which the perceived risks associated with the U.S. public debt would increase markedly, we can be sure that, without corrective action, our fiscal trajectory will move the nation ever closer to that point.”
It is amazing that Bernanke is saying this especially in light of the Federal Reserve’s policy decision up to this point. His statement today will only fuel the flames of silver and gold and investing silver will only be more attractive.
