Greg Hunter – Money manager Michael Pento says President Trump sent a profound financial message to Wall Street and Main Street when he said $74 billion in Puerto Rican debt needed to be “wiped out.” Pento, who is also an economist, explains, “What I find very striking is that Trump said, very honestly, we’re going to get rid of that. We’re going to abrogate it. We’re going to cancel that debt.
So, he’s telling private creditors, Goldman Sachs, pension funds and individual bond holders, you’re going to get close to, if not exactly, zero cents on the dollar.
https://youtu.be/WOFWq3Cau2c
That’s an explicit default on debt. . . . Ladies and gentleman, please listen to me, the governments of the world, which include the United States, Puerto Rico, Greece, China, Japan and Eurozone, they are going to default on their debt either explicitly or implicitly through inflation. That is what’s happening now, and that condition will only exacerbate as we go through time.”