Episode 872 • • 2:26:32 - 2:32:51
872: Kinetic Kill
GASB Pension Accounting and 2017 Bond Market Collapse
John C. Dvorak warns of an upcoming collapse in the municipal bond market triggered by new Government Accounting Standards Board (GASB) rules. These statements (68-74) require cities to list unfunded pension liabilities on their primary balance sheets, which will reveal that many California cities are effectively broke. Dvorak predicts this financial realization will occur in mid-2017, potentially creating opportunities for investors to short bonds or move into gold and Bitcoin.