by Greg Hunter, USA Watchdog:

Analyst and financial writer John Rubino warned nearly four months ago of a “U.S. Financial Death Spiral.”  This past week, Bank of America caught up to Rubino and issued a warning about a “US dollar death spiral” because the federal government was going deeper in the red by creating “$1 trillion in new debt every 100 days.”  Maybe this is why gold and Bitcoin have been hitting new all-time highs day after day.  Rubino says, “When a building was worth $200 million and someone sells it for $48 million, that means there is a loss that someone has to take.  Those losses are mostly on the books of regional and local banks.  So, they are in big trouble financially. . . . You will get these massive bank runs that the government will have to step in and bail out.  This is one of many things that will happen in the not-so-distant future.