By Greg Hunter’s USAWatchdog.com - November 12, 2025

More than a year ago, economic analyst and financial writer David Morgan predicted we were entering a global Great Depression. With massive AI layoffs, sky rocketing silver and gold prices, exploding debt and civil unrest increasing, it looks like Morgan was right—again. On the money side, demand is so shaky for US Treasuries that former Trump Federal Reserve nominee, Judy Shelton, was pitching a gold-backed US Treasury Bond on CNBC. Was Shelton running a flag up the pole to gauge the reaction for the White House? Morgan says, “You are not getting on CNBC and talking about a gold-backed bond unless it’s been, let’s say, approved by the powers that be. This is something that will help restore a sound monetary system with possible gold convertibility. Shelton argues that the US monetary system is unstable, inflationary and it erodes purchasing power. Shelton says a new bond with a link to gold would restore trust.” Morgan also contends this would add greatly to the already bullish environment for gold and silver.

Morgan sees the big picture and says, “When you study the end of the Roman Empire, one of the primary reasons it fell was everybody was pouring into Rome to get free bread and circus. Does that remind you of something that is going on now? . . .

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In closing, Morgan says, “The run to gold goes like this. It starts as a very light walk, then a normal walk, a brisk walk, a light jog, a full jog, a fast jog, a light run, a run and then an all-out sprint to the finish line. Now, we are at a brisk walk to a light jog. What has taken place over the last few years is central banks are buying gold hand-over-fist in quantities never ever reached before. Why is that? Because the bankers know gold is the money of last resort. Gold is money and everything else is credit. They know what’s coming.”

There is much more in the 57-minute interview.