U.S. Already in Technical Default-Gregory Mannarino
By Greg Hunter
25 FEBRUARY 2013
Analyst Gregory Mannarino is worried about the out of control debt in America. Mannarino says, “The United States is already in technical default regarding its debt because if it were not for the Fed buying all this debt, we’d be in actual default, which is coming.” When the bond market bubble blows up, Mannarino thinks, “People are going to be destroyed here—destroyed from a financial standpoint.” It is an official “open ended” policy for the Fed to buy $85 billion in debt each and every month. Mannarino says, “This is a very dangerous game the Fed is playing. It is very scary. They are creating a greater and greater imbalance between the supply and demand for the U.S. dollar. . . . Inflation is starting to kick in, and it’s just the beginning.” Join Greg Hunter as he goes One-on-One with Gregory Mannarino from TradersChoice.net.