Gradually, Then Suddenly

Daily Reckoning ^ | Oct. 10, 2024 | James G. Rickards

[george76]

US National debt is $220 trillion. ~bottom right.

https://usdebtclock.org/

[KarlInOhio]

Fortunately, through responsible governmental policy the dollar’s value is still rock solid. < /s>

[Jeff Chandler]

This is exactly what I thought would happen when we seized Russian assets. Who would ever trust the U.S. again?

A parralel to this is New York’s prosecuting President Trump for making an optimistic appraisal of Mara Lago. Who wants to invest there now?

[PeterPrinciple]

We woke up one morning, read the paper and learned the USSR was bankrupt -— it happened that fast.

[PeterPrinciple]

https://www.thenation.com/article/archive/december-26-1991-the-soviet-union-dissolves/

December 26, 1991: The Soviet Union Dissolves

[Vermont Lt]

When I start reading “economic” stories that have that tint of Russian propaganda, I lose interest.

The economy of Russia is a corrupt mess. Just take a look at their train system and how it was split up between oligarchs. It’s something out of a bad movie.

China is a state run economy that is teetering on collapse.

The US economy might not be as great as it was…but it is still the cleanest dirty shirt in the hamper—by a large margin.

The world isn’t ending tomorrow. Or the next day. Corrupt and State Controlled economies should not be held up as shining examples of anything to be envied.

This is garbage put out by the same people who want you to think that Brazil is going to run the next 100 years of the world economy. It’s not gonna happen.

[GOPJ]

But a large part of the world refused to join the U.S./EU/NATO financial sanctions. It’s not that countries around the world necessarily supported Russia’s invasion. It’s just that they didn’t want U.S. sanctions to disrupt their trading relationships with Russia, which they depend on. They weren’t willing to harm their economies over a conflict that has no bearing on them, on the other side of the world in many instances.

Sometimes WE are our own worst enemy...

[SaveFerris]

[Meanwhile, Turkey has greatly expanded its exports to Russia, while Iran is selling weapons to Russia including “kamikaze” drones that act like slow-motion cruise missiles that can linger over targets.]

Major players in Ezekiel chapter 38 - prophesied for the Latter Years (KJV verse 8) and the Latter Days (KJV verse 16)

[SaveFerris]

Here comes The Great Reset

[SaveFerris]

[A US government CBDC ( cashless)]

This commercial says it was signed by EO 14067 by Democrat Joe Biden in 2022 - surprisingly, YouTube kept recommending this and I finally watched it way back

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Biden’s EO 14067

This video is actually worth watching the portion I recommend - this ain’t going away

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Biden already signed EO 14067 March 9, 2022.

The Digital Dollar will save us! Yeah, That’s the ticket!

(worth it to watch just the first 17 minutes - there will be no way to “prosper”, though)

Yes, I recommend watching the first 17 minutes of this video

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The Jim Rickards Commercial - Jul 5, 2022

https://youtu.be/fCfzQNhi_ns?t=0

(Google’s YouTube, amazingly, kept popping this up on my recommended playlist on the side - so I finally watched the beginning of it - ignore the sales pitch and watch the first part I recommended above)

[GOPJ]

And importantly, the more other economies trade with Russia, the less any of them will need U.S. dollars as a medium of exchange. So the U.S. sanctions have not only failed, they’ve contributed to the long-term decline of the dollar as the world’s leading payment currency.

They’re also driving countries away from using dollars in international transactions for fear that they could become the next target of U.S. displeasure.

I’ve been warning about this for years. Almost 10 years ago, I sat in a secure conference room at the Pentagon and explained to a group of U.S. national security officials from the military, CIA, Treasury and other agencies that the overuse of the U.S. dollar in financial warfare would eventually compel nations to seek dollar alternatives.

Important piece to read... ping a ling...

[SaveFerris]

[February, 2022]

Then Biden signed EO 14067 March 9, 2022.

[wintertime]

Re: Nixon 1971

I remember going off the gold standard. Inflation took off like a rocket. Tutition for graduate school went from $1,000,yr. to $5,000 by the time I graduated.

Very painful.

[Dick Bachert]

[Dick Bachert]

This SCAM started a looonnng time ago!
AND THIS TIME, THOSE “CHICKENS” THAT WERE SUPPOSED TO COME HOME TO ROOST? THEY’RE BUZZARDS!! BIG ONES!!!
PAPER DEBT MONEY PART 1 of 2:
https://youtu.be/hpxc80iFRvA?si=McVsTSPqCyVJgGHq
PAPER DEBT MONEY PART 2 of 2
https://youtu.be/nUdQd0CoyB8?si=ev66YSBYrugfJ0Nl

[Nateman]

All those paragraphs devoted to sanctions. Nothing about the most potent problem the dollar faces: Debt. Sooner or later the other nations will realize that loaning money to the United States will eventually reach a point where the loan can't be paid back.

We already had a taste of that with the high inflation rate. Uncle Sam will have to resort more and more to creating money out of thin air to pay its bills.

[george76]

None of the US National debt ~ $220 trillion and growing - will ever be paid off.

[caww]

Interesting article - especially if you also view foreign news sites to keep on top of what's happenig in the rest of the world, which you won't hear in our news.

[logi_cal869]

And importantly, the more other economies trade with Russia, the less any of them will need U.S. dollars as a medium of exchange. So the U.S. sanctions have not only failed, they’ve contributed to the long-term decline of the dollar as the world’s leading payment currency.

Like they didn't plan that all along...

C'mon.