GoldSeek Radio Nugget - Martin Armstrong: Gold Soars as Government Confidence Erodes

Head of Economics, Martin Armstrong, says, "Gold is going up due to loss of confidence in leadership."

- Martin reviews the gold charts in real-time noting, gold is going higher and history is replete with parallels.

I've said, gold does not go up because of inflation. It goes up when the confidence in government declines. That is what we are dealing with. Even the Gallup polls have shown that confidence in government in the United States as opposed down to 28% confidence in Congress, is at 7%, I think a used car dealer has more respect. In Europe, they're freaking out over there because confidence is also declined in government below 30.

This is why gold is going up. Why are they pushing nothing but war? I mean, when I was growing up, it was, you know, the whole object was World Peace. Nuclear weapons would create World Peace because nobody would want to war because it'll devastate everybody.

He continues:

Look, this is what really drives gold. Okay? It is. Why it's going up is because the confidence in government is just simply collapsing. These people need war. Because quite frankly, I mean, and I've been in meetings for over 40 years with these people, I've been warning them, this is how governments fail.

All right, it is not the the empirical level of the debt. What happens is when you look throughout history, when you get into these Ponzi schemes, they never intend to pay anything off. So they keep selling new new debt to pay off the old. All right, when Ronald Reagan was President, the national debt was one trillion dollars. Today, we have annual interest expenditures of one trillion. It's out of control. This is why they're pushing for war.

- Will the Dow Jones outperform the Nasdaq?
- Martin outlines his meeting at Mar-a-Largo.
- He outlines his forecast for GDP and stagflation.
- Concerns about inflation and global conflict.
- Martin's economic tome is number 1 on Amazon.com!
- Martin's book