Iran Playing Fire With Banking
Iran is bombing the United Arab Emirates in an attempt to trigger a financial collapse. This is much more serious than Iran threatening a neighboring nation. If Iran succeeds in creating a debt crisis, that will filter into the banks. Once the banks start getting into trouble. this does more than send oil up. It put pressure economically on Europe and the United States. This is the key to a banking crisis.
Financial analyst Martin Armstrong says this Iran war will last the rest of 2026, and gasoline prices in the US could hit $9 a gallon. He notes, “We are at a point where governments collapse. . .. What we are facing is a sovereign debt crisis globally. International debt reached $353 trillion last month. It doesn’t stop. They don’t pay off debt. They just roll it over. This will come to a crisis because interest payments keep rising. Our interest expenditure exceeds military.”
In closing, Armstrong is still a buyer of gold, silver, food and holding some cash. He says the US dollar is not going to be replaced as the world reserve currency anytime soon. This might be a reason why Warren Buffett is holding a record $400 billion in cash.
There is more in Armstrong’s 58-minute Interview with Greg Hunter on USAWatchdog.com.
