Legendary financial and geopolitical cycle analyst Martin Armstrong thinks many European bonds will never be fully paid back. They will be a default, but it won’t be an outright default. Armstrong explains, “So, in Europe, all the bonds they have bought, they have to constantly keep rolling them over in addition to what they buy. It’s not sellable. The proposal in Europe, behind closed doors, is to convert them to ‘perpetual bonds.’ It’s a way to default. So, effectively, they will just give you the interest, and you can never redeem them.”
As far as the stock market goes, Armstrong says, “Rich people are selling stocks again.” Remember, this is just like what happened just before the CV19 lockdowns.
What can the common man do to cushion from what is coming? Armstrong says, “Buy canned food because food prices are going up.”
Armstrong also like soft commodities, energy and gold and silver, especially silver. Armstrong says, “People are not going to know what a silver bar is . . . I would buy silver coins that are dates 1964 or earlier. . . . The average person can look at that and know what it is. I would recommend that more than silver bars. I would say silver would actually be better (than gold) because it’s a smaller denomination that can actually be used.”