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Top Three Videos – December 16, 2023

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This is a MUST-Read...

Doug Casey: Worst Year in Living Memory (Dec. 14, 2023)...

Doug Casey's Take...

Summary

 

There is a pushback against major universities from wealthy alumni who see them as more focused on financial investments than education, and there are concerns about the potential for global conflict and the need to understand historical atrocities.

 
  • The pushback against major universities is coming from rich alumni who see them as “hedge funds with an attached school.”
  • “It’ll get worse before it gets better. That’s my prediction.”
  • Understanding the specific atrocities of the Rape of Nan King and the Japanese Army’s actions is important to grasp the brutal nature of human history.
  • The efforts to save the war and prevent it from dying out are reminiscent of the events leading up to World War I and II, with real risks of the war falling apart.
  • “I think 2024 is going to be the worst year in living memory.”

Matthew Piepenburg: Depression Level Economy For The U.S. Is Here (Dec. 13, 2023)...

Pallisades Gold Radio...

Summary

 
 

The global economy is in a state of crisis, with indicators pointing towards a hard landing and recession, and the need for a major reshuffling of the global financial system.

 

Economic indicators and implications

 
  • “We live in a fantasy world. Now reality has been destroyed.”
  • The Fitch downgrade of the US Treasury this year is another empirical indicator of the dark state of the economy.
  • Main Street is clearly hurting between bankruptcies, layoffs, and credit card delinquencies at 2008 levels.
  • Main Street and Wall Street indicators are already evidence of a hard landing and a recessionary backdrop.
  • All debt-strapped countries inevitably debase their currency to inflate their way out of debt, leading to extreme control from the political left or right.
  • The FED will have to print more money to buy US treasuries, leading to a dilemma of fiscal dominance and inflation.
  • We have way too much debt and not nearly enough income, leading to a situation where we’re broke and bankrupt.
  • The rush back into the 10-year bond is not a flight to safety, but rather backdoor liquidity that buys time.
  • The $14 trillion in US dollar-denominated debt floating around the world will have to be paid back, leading to a scenario where parties have to sell US treasuries to get liquidity in dollars.
  • The U.S. cannot allow for a selloff in US treasuries, as it would lead to higher interest rates and their biggest fear is a spike in true interest rates.
     

Global financial system and geopolitical shifts

 
  • The GDP for the BRICS plus Nations is on track to surpass the G7, indicating a major shift in global economic power.
  • The IMF has already telegraphed a plan for a new Plaza Accord or Bretton Woods 2.0, planting the seeds for a reshuffling of the global financial system.
     

Technology, language learning, and societal impact

 
  • Learning languages by immersing in different cultures is more valuable than using implanted chips.
  • The experts tell us that technology is going to save us, but it’s not big enough to solve the existential problems we already have.

Alasdair Macleod: Inflation Will Rise As Dollar Weakens (Dec.15, 2023)...

Liberty and Finance...

Summary

 
 

Inflation will rise as the dollar weakens, potentially leading to a funding crisis and debt trap for the US and other G7 nations, while nations like Russia and Singapore are accumulating gold reserves to stabilize their currencies.

 

Impact of Dollar Weakness on Inflation and Purchasing Power

 
  • “It’s not gold going up. It’s the dollar going down.”
  • “The conditions are there for the dollar to lose a quarter or a third of its purchasing power.”
  • In a recession, the gold price went up, as seen in the Great Depression, leading to a rise in the purchasing power of gold.
  • The idea of a general slump lowering prices and interest rates is just untrue, it’s a pure Keynesian myth.
  • The weakening dollar will lead to inflation, as welfare payments and other expenses linked to inflation will continue to rise, creating a difficult situation for politicians to navigate.
  • The days of the dollar are effectively numbered, as seen in the gold acquisition policies of other central banks.
  • The weakening of the dollar will lead to a rapid expansion of central bank’s balance sheet, undermining the purchasing power of the currency.
     

Consequences of US Government Deficit and Debt Crisis

 
  • The US government running a deficit of potentially three trillion this year, with half of that being interest payments, poses major hurdles for bond financing.
  • The G7 nations are all in a debt trap, where rising interest rates increase the interest bill and governments face greater welfare obligations.
  • “It’s catastrophic. Uh there’s no other word for it but that unless there is some sort of wonderful change is where we’re going.”
  • The global banking system would implode if credit collapses, highlighting the importance of understanding the difference between credit and physical money.

 

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