It takes a nation to protect the nation
This is the very best and the simplest that I have seen the world's economic turmoil explained. It is put in terms that a twelve year old can understand and explains how we got where we are, why we can't get out of it, and where it is leading. This is a video that covers our current financial practices. It does not delve into financial manipulation, or a New World Order conspiracy...simply economic practices that are destined to fail. Everyone who watches this will better understand that what we are seeing ahead is an oncoming train.
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Peter Schiff is one of my heroes, from the time he went to the demonstrators camped out on Wall Street and said "I here to defend the 1%; let's talk". He was there for several hours. It was really amazing to see the two mindsets meeting. Of course, it would never happen now. The Antifa fascists would just maul him.
I think if we are lucky, the collapse is 2 to 3 years away. I say that because even though there is barely any more gas left in the stimulus tank, the state banks will do whatever they can to try keep the ship afloat. They will pull out every stop. So the collapse could by delayed by 2 or 3 years. If people start putting their affairs in order now, there is enough time to get ready. If we aren't lucky, then I'm screwed.
John Exter is very good. Its a relief to see someone repudiate both Keynes and Friedman.
Am not sure if his two beliefs are compatible though:
(a) free floating exchange rates
(b) fixed currency value against gold
The FX rates have to float because,in Hayekian terms, the bond and fx traders individually capture the world knowledge of oil prices, war, political turmoil, etc.
But then the currency obviously can't redeem at a fixed rate against gold, or the arbitrage opportunities are endless.
Perhaps the currency should redeem as a fixed fraction of the gold reserves. So if:
In other words, the redeemable value of one pound note would be R/C
where R is the size in ounces of the gold reserves.
and C is the total amount of currency printed or released by the central bank,
Then, as the central bank produces more currency (either by printing or by interbank loans or by buying treasury notes),
the real value of the Pound note would go down.
Because the value of one Pound has gone down, the Pound could then slip down against other currencies in the FX markets. The end result would be fewer arbitrage opportunities.
But if the UK government loses international trust, or is hit by high oil prices for example, and its currency goes down against a basket of others, this system won't work either.
I think this part of Exter's model requires more work!
Civil War 2 in America - what comes after ? ; https://www.youtube.com/watch?v=QF4G7O7D34k&feature=em-uploademail
Is the Fed planning to topple the US $ ? ; https://www.globalresearch.ca/is-fed-preparing-topple-us-dollar/568...
The coming financial panic ; https://internationalman.com/articles/david-stockman-on-the-coming-...
Financial coup d'etat ; https://www.youtube.com/watch?v=9ZkYVc9N-8E&feature=em-uploademail
Negative interest rates are the price we pay for de-civilisation ; https://www.zerohedge.com/economics/negative-interest-rates-are-pri...
The collapse of the REPO (Repurchase Overnight Loans) market last week, and bailout by the Fed, is an even more worrying sign that the collapse is near.
Remember that sub-prime collapse that was fixed by all those re-possessions?
Think again. There are millions of Americans who have not been paying their mortgages for years but the banks don't repossess the houses (because that would have caused a crash in the housing market). Incredible.
Another extraordinary video. How this 33yo knows so much is astonishing. And he puts his knowledge to use by building successful companies by going against the prevailing wisdom. And he doesn't come from wealth.
That video on the 2008 Housing Crisis is very good but gets a bit strange at the end. He says if you are a home owner, sell your house now! But if there's a crash coming, don't you want to just own your home outright so you at least have a place to live in? It would make sense if he'd said, "Sell your house and downsize to a place with no mortgage" but he didn't say that. Very strange. He obviously sees the big picture on the housing market, but probably not the big picture on the whole economic ecosystem.