kingworldnews.com / October 18, 2013
In the aftermath of the dollar plunge and the gold surge this week, today in his King World News interview billionaire Eric Sprott asked the chilling question, with the collapse that is coming, “as human beings, how is everyone going to survive?” He then stated, “It’s a scary prospect.” Below is what Sprott, who is Chairman of Sprott Asset Management, had to say in part I of this remarkably powerful interview series.
Eric Sprott: “The United States is already insolvent. They announced their own GAAP budget deficit, which was $6 trillion last year. $6 trillion! They (only) had revenues of $3 (trillion). And the combined debt and entitlements is now $60 – $70 trillion.
Now, can you expect somebody with $3 trillion of annual revenue to be able to deal with $60 trillion of debt? It’s impossible. So, mathematically it’s over….
Thanks to BrotherJohnF