Posted on 04/22/2021 5:27:05 AM PDT by EBH
(Video)If it feels like the U.S. government is spending money like it's going out of style ... it's because it is! Glenn exposes the TRUE state of our economy that the Biden administration doesn't want you to see. Obama kicked off a spending spree that was continued under Trump, and now Biden will finally push us over the ledge with the $2.3 TRILLION "infrastructure" deal. All signs point to a major economic disaster. And the perfect storm is brewing to convert the greenback into a new digital currency. Think Bitcoin, but with CENTRAL bank control, where we could see the end of private savings and private spending and your finances are tracked. Every time our money gets converted, your wallet will take the losses.
Along with why the government is not concerned about all the money being printed, why the banks refuse to lend to small businesses and the slow crash of the US economy that is being orchestrated right under our noses.
I don’t disagree with any of it, however, I’ve been hearing since the Reagan years how deficit spending is going to wreck the economy, yet 40 years later we are still spending like drunken sailors and there seems to have been no discernible impact. We are at $30T and counting. What is the inflection point, if there is one?
Yeah, ditto. That said, Zimbabwe, Argentina, Greece, etc., etc., etc. suggest and indicate that despite this being the Great and powerful US, continuation of deficit spending amounting to trillions a year over what the US brings is unsustainable. It ultimately is not of ‘if’, it’s a matter of ‘when.’
Well, that is very much so. And it is not only a good thing, it is a GREAT thing. Bring it on!!!!
Think QFS (Quantum Financial System) and NESARA. Precious-metals-backed currency. Coming soon, to a bank near you!
Well he looks at GDP and compares to Greece from a few years back. We’re at 102% already, Greece failed at 130%.
The argument is that once we reach the tipping point is when the reset happens to the digital dollar along with the haircut to your bank account and investments.
That is exactly the point. As long as the US dollar remains the world’s reserve currency, it is essentially backed by the world’s economy. It gives Americans incredible access to the output of the world’s goods and services. There is no “controlling authority” to prevent its debasement. However there is an end point when the world will no longer accept the US dollar as a reserve currency. Cryptocurrency is just one of many challenges to soon come. However for the immedeate future , there is no real challenger to the US dollar’s primacy. Hence the politicians can continue to print, spend, incur debt and not pay the real price until their careers are over.
Well, Russia divorced itself from the dollar reserve currency a few weeks ago, and topped off by Putin's speech yesterday. Dominoes are falling.
Russia is trivial
Treasuries repo rout fueled by Japan’s rush out of global debt
en-based investors have been liquidating so-called older Treasury positions, according to traders in Asia, who asked not to be identified as they aren’t authorized to speak publicly. After four straight weeks of losses in U.S. sovereign debt last month, the investors are often selling at a loss, albeit one that is offset by profits from the equity market, added one of the traders.
The impact in the repo market comes from how dealers absorbing the Japanese supply in old bonds — those not used in benchmarks — often short current ones to hedge their positions.
The dropoff in liquidity has seen dealers opt for the more-liquid current 10-year Treasury — where borrowing costs hit as low as minus 4% on Wednesday — highlighting a significant short position in the bonds, while the general collateral repo rate closed at 0.03%.
That means the investor lending out cash for the 10-year bonds ends up having to pay, instead of getting compensated.
can you point to some resources to better understand this?
What Happens To Cash? Countries Race to Set New ‘CBDC’ Digital Currency and Track EVERYTHING!
Short 3 minute video that agrees. As govts install digital currencies, they will outlaw private systems like Bitcoin, eliminate cash, and outlaw gold and silver use in private transactions. They’ll have a total control matrix, and follow and record your every transaction.
https://www.youtube.com/watch?v=J82rflmlaOA&t=1s&ab_channel=DAHBOO77
A re-run of Jimmah Cahtah...
Yes,
Same thing I have been thinking....A lot was said about this happening during Obamas “stimulus”....
It’ll give them an opportunity to go after your 401k.
Never underestimate that heretofore the US Constitution, the legal respect for property rights, the relative safety of bank deposits and the enforced legality of various security modalities, have made the US an attractive and safe depository for the world’s wealth. Americans have benefited immensely from this huge influx of capital and investment. Alas given the current political realities, it may be changing. In New York foreign investment in high end residential and commercial real estate has virtually ended. However they are still buying premiere farmland.
Which they’ve been trying to do that for decades. The opportunity is about to present itself.
Biden is an illegitimate vegetable. Let’s start there. Congress controls the purse strings. The Federal Reserve, which is a private consortium of banks prints money. Lots of it.
So where were we? The Federal Reserve is devaluing our currency. Reagan was shot, by Neil Bush’s best friend because he asked why we need the Fed.
Every central bank is devaluing their currency, so they don’t have to pay their debts. The Fed owns most of the US debt. So our government owes the banks the taxpayers bailed out a decade ago.
Isn’t that special?
so for someone with very little money where do they park their savings.
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