Resource investment expert Rick Rule is asking one very important question about a mountain of U.S. debt? Rule asks, “How on earth are we going to resolve $120 trillion on balance sheet and off balance sheet liabilities before we consider state and local debt and underfunded pensions? .. I think we will have a series of unofficial defaults where we devalue the net present value of the obligations, which is a different way of saying we devalue the . . . currency, gradually like we did in the 1970s. I think that will have the same impact on gold and silver prices.”

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