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Brah, I was buying gold in 2002 when others laughed at me.
According to economist Alasdair Macleod (Goldmoney.com) a sudden shift in dollar-denominated financial markets occurred on or about the 23rd of March of 2020.
Macleod now says an imminent banking crisis is a near certainty. Forget about Black Lives Matter toppling statues of ex-Presidents. If we heed the warnings of Mr. Macleod, the U.S. dollar could fail completely by the end of this year.
“Against that possibility a reset might be implemented, perhaps by reintroducing the greenback, which is not the same as the Fed’s dollar,” instructs Macleod.
I’ll let Macleod do the rest of the talking:
“What if the response to the current economic crisis is a more rapid depreciation of currencies? And what happens if they (all currencies) die altogether?” He’s talking about fiat currencies, not backed by any tangible assets.
Macleod: “History gives us a guide, not through extrapolation, but by telling us that every recorded currency collapse has occurred to fiat currencies unbacked by gold or silver. So, we know it will happen — eventually.”
Macleod says Americans face a “prolonged period of falling purchasing power, followed by a sudden collapse when a currency’s users finally reject it. In terms of time, the latter phase usually lasts approximately six months.” Sounds like Mussolini’s Italy when wheelbarrows of Italian lira were burned in fireplaces.
Remember when actor Jimmy Stewart in the movie “It’s a wonderful life,” said in the midst of a run on his bank: “Just remember this thing isn’t as black as it appears.” Well, it’s a little blacker this time.
Macleod: “The paper money scheme is about to crumble. It seems hardly possible that the US banking system will survive the current supply chain disruption without help… Presumably, failing banks will be taken into public ownership with the Fed backstopping it with yet more inflationary finance.” The federalization of airlines, internet companies, utilities, food purveyors.
https://www.lewrockwell.com/2020/06/...ke-a-big-fall/
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