"There are probably ten forces that are making this inflation more sustainable. This time around you're not coming out of a financial crisis, you're coming out of a war type situation. Disruptions of supply chains, the cost of transportation with oil - those types of things [cause] very sustainable inflation," McDonald said. "It’ll be around for the next three years".
"After Lehman, they were not placing capital into people's bank accounts, that was not happening," McDonald said. "This is why inflation is more sustainable. If you're getting checks from Uncle Sam [US government], why do you have to go back to work? And that causes wage inflation - that means Amazon has to pay more. This is creeping universal basic income".
Cryptocurrency is Not the Solution
"I don't see it as being as bad as Lehman because the banking system is much, much stronger now," McDonald said. "Global recessions are typically tied to banking collapses. I do think that it will be like a 1999, dot-com type thing where some of these cryptos and some of these tech stocks take ten years to break even".
"Crypto has wiped out more young kids with all their money," McDonald said. "They're making money now [but] crypto has destroyed people so I'd be very careful here with crypto".
"I think silver is in the best investment in the world right now if you're worried about inflation because you have the green trade, so your green component, your industrial silver is going to be up I think 300 percent in the next decade," McDonald said, adding that uranium would also be worth investing in as well.