The Federal Reserve’s monetary policy, based on a recent and untested theory, may be “Voodoo economics” as admitted by former chairman Alan Greenspan, who engaged in “syntax destruction” when speaking to Congress.
The 1971 closure of the gold window led to a fiat currency system with no anchor, causing the dollar’s value to decline and perpetuating the myth that gold is bad.
The Austrian School views the 1920s stock market crash as a reckoning caused by artificially low interest rates, setting the business cycle in motion, rather than a depression as argued by Milton Friedman.
The Independent Treasury period (1833-1841) was the most stable monetary period in US history, following the Jacksonians’ sophisticated economic criticisms of Alexander Hamilton’s unsound banking system.
Deflation, where prices fall consistently, can be beneficial for the economy, contrary to popular belief, as evidenced by the US becoming the world’s industrial powerhouse during a time of consistently falling consumer prices.
The Fed’s 2% inflation target erodes purchasing power, making traditional savings unviable, while gold and silver coins have historically served as a stable store of value for hundreds of years.
Monetary Metals allows investors to earn 2-5% on gold and up to 12% on silver through leasing programs, putting gold to productive use instead of sitting idle.
Developing a reliable income stream resistant to inflation and recessions is crucial for financial independence, rather than relying on traditional economic systems and central banking.
Nixon’s 1971 decision to remove the gold standard enabled deficit spending without gold reserves, leading to massive wealth inequality and record unsustainable debt of $35-36 trillion, devaluing the currency and causing inflation as an invisible tax on the working class.
The US is in a permanent ruin cycle due to decades of living beyond its means, with debt-to-GDP over 100% cutting growth rate by 1/3, according to David Hume, resulting in a 99% loss of dollar purchasing power over the last 50 years.
The FED has only two tools: interest rates and money supply, but with $35 trillion debt, it can’t raise rates above 6% without breaking the economy, forcing it to cut rates and cave to inflation.
Central banks are rotting from within with massive amounts of bad loans and tight cash reserves, according to Thomas Hern, former FDIC president, mirroring problems in Chinese banks with crappy loans and underwater US Treasury bonds.
Gold is considered a tier one asset by the BIS, indicating central banks’ fatigue with the US dollar dominance and distrust in the US Treasury, making it a politically and financially important indicator.
China buying oil from Russia in Yuan and converting the difference represents a massive example of the trend towards currencies other than the US dollar, with the oil trade already dislocated outside of the US dollar.
Silver supply deficits and increased demand from India, China, and the solar panel industry are expected to drive silver prices higher, with the gold:silver ratio potentially compressing to the 40s and silver reaching a minimal price of $300.
Bitcoin has outperformed gold on an annualized basis but is considered a speculation accent rather than a true store of value, charting like a tech stock and potentially impacting gold negatively in the short term.
Misaligned incentives in systems like fascism, where government and corporations have different incentives than the people, lead to inequality and monopoly power, with entities like BlackRock, Vanguard, State Street, Amazon, and the Fed wielding immense influence.
Wealth inequality and consolidated power in government and corporations have created a feudalistic system where the top 10% are lords and masters over a slave population of the working poor, necessitating a reevaluation of anti-trust laws to combat monopolies in various sectors.
The BRICS summit in Kazan, Russia on October 22nd will make crucial decisions on exchange rates, investment, and currencies, potentially challenging America’s financial system and putting its economy on high alert.
NATO’s planned attacks on Russia, likely starting in 2023’s second half, have led to infrastructure attacks, with Putin potentially retaliating using hypersonic missiles across Ukraine.
The assassination of Hezbollah leader Hassan Nasrallah could trigger a major conflict in Lebanon by mid-2024, with Iran’s retaliation aligning with Putin’s plans.
The BRICS summit may outline a new currency based on 40% gold and 60% member countries’ currencies, requiring unanimous agreement for implementation.
China’s Yuan reached a record 4.8% in global payments by July 2024, up from 6% in 2010, with its economic stimulus aiming to add 0.5% GDP growth in 2024 to stabilize for potential war impacts.
The US economy faces potential recession by end of 2024, with GDP up 2.7% and GDI up 0.7% from Q1 to Q2 2024, while the Fed cut rates by 50 basis points in response to economic disruptions.
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