David Stockman Warns "Gold Is The Only Safe Asset Left"

Record high stock and bond prices are flashing danger signs to former
Reagan White House Budget Director David Stockman.

“I think it’s going to be a fiscal calamity of Biblical proportions.
I want to be clear.  I am always for tax cuts and shrinking the size
of government, but you have to earn it.  You have to cut spending and
entitlements and this massive defense budget.

Obviously, they didn’t do that.  If you look at honest accounting . .
.  this bill will add $2.5 trillion to the public debt which, and this
is a key point, is already going to rise by $10 trillion over the next
decade based on the current law and taxes that is still in.”

This crazy Bitcoin mania has drained off what would otherwise be a
demand for gold....When Bitcoin collapses, spectacularly, which it
will because it’s sheer mania in the markets right now.  When it
collapses, I think a lot of that demand will come back into gold, as
well as people fleeing the standard stock and bond markets for the
first time in 9 or 10 years.”