Financial analyst Andy Hoffman contends debt is the main problem with the economy. Hoffman says, “There is so much debt in it that even a tiny bit of interest rate increase is killing it further. Yes, they have had the stock market go up, but what have they created? They have created Dotcom valuations in an increasingly Great Depression era, which, by the way, are only being enjoyed by 1% of the population. The largest most destructive Ponzi scheme is at its end. You can’t do anymore. They can’t anymore say the economy is getting better. . . . All the market manipulation and money printing is dying. All that’s going to be left is hyperinflation.”
In closing, Hoffman gives a warning about crypto currencies and says, “You can compare it to the Dotcom bubble. You will have barely any winners, but some of those winners could be some of the biggest winners of all-time. You are going to have a tremendous amount of losers because a lot of them are scams, and a lot of them are just attracting hot money. So, you better do your research. . . . The only one I have any faith in is Bitcoin because it is the only one that can be a game changer for the world and for the gold and silver market.”
Join Greg Hunter as he goes One-on-One with Andy Hoffman of Miles Franklin Precious Metals.