Forget about job numbers and that side of things. Let’s talk about this from a currency regulation point of view.
President Donald Trump has allowed the same thing that every president since Richard Nixon in the early 1970s to continue to happen. He has allowed the constant creation of dollar bills backed by nothing to continue — the mother of all Ponzi schemes — and this time, it’s on steroids!.
He’s allowed the federal reserve to continue to go unregulated, unaudited, and to remain a private institution answerable to not even congress. Also, he’s allowed the domino effect which will lead to the collapse of the dollar to take place at a super rapid pace by not following through with a gold-backed standard.
How did that happen?
He’s allowed the federal reserve to throw trillions of dollars into the currency supply since March. The first bailout was 2.3 trillion dollars and the second was 3 trillion dollars. Now he’s allowed the Fed to open up their checkbooks and issue unlimited money…this is not going to end well.
In the short term, there’s a likelihood of there being a recovery but this is all smoke and mirrors and history has proven time and time again — 1920’s Weimer Republic, 1946 Hungary, 2000’s Zimbabwe and 2017–19 Venezuela.
In an article released on the 7th of June, Trump had predicted that the US economy will recover by 2021, citing new job data released by the labor department which contains a misclassification error. Officials say that the numbers are artificially low and top financial minds have voiced their concerns and the head of the federal reserve and other top economists disagree with Trump.
Currently, unemployment is the US stands at 20% of the country’s population…and this is guaranteed to increase as more businesses and companies will go into bankruptcy over the coming six months.
One of the reasons Trump is saying the US economy will recover in the next year is because 2020 is an election year and he wants to create hope and positivity to save himself and get re-elected.
Trump and his administration have given the Federal Reserve free rein to throw everything they have at the system creating immense amounts of currency, buying back stocks, and freezing mortgage payments to prevent the housing markets from collapsing.
We now have multiple artificial bubbles within bubbles.
That may stop the markets from crashing for the short term but not in the long term.
When governments and central banks embark on this type of madness, there are periods of perceived prosperity like the one that happened in 2009 and 2010 after the 2008 subprime mortgage crisis, which incidentally continued until March of 2020.
The markets should have ideally crashed post-2008 but the government started quantitative easing, which is another word for counterfeiting of currency. This has caused a disproportionate increase in the market value of real estate and stocks. The values of stocks have gone up constantly and now all it took was a trigger, which in this case was the Coronavirus, to rock it to its foundations and reveal exactly how fragile the whole system is.
In his public opinion, currency creation is the only solution to keep the economy afloat. The informed, however, know this will ultimately lead to the destruction of the US and global economy and are bracing themselves for it..
The President of the United States has done nothing different for the economy since Richard Nixon took the United States which is the global reserve of the gold standard, in the sense, he has allowed the fiat currency model to continue to siphon wealth off the masses.
We’ve been in a credit-based society and now we’re in a situation where all of our currency is going digital and the central governments and banks will have even more free reign to manipulate markets from even more centralized systems.
It is more important now more than ever to remove ourselves from this system as its been running on borrowed time for a very long time now. The mainstream narrative from the politicians is to fill people with false hope saying that everything is going to be fine even though the head of the federal reserve has rejected this. Who do you believe…I say none of them.
There is a dark storm coming and we all need to be prepared for it for what is coming!
I feel strongly that amongst others, precious metals will offer you a safe haven for this.
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