I explained this in my previous article: https://glenn.substack.com/p/my-perspective-of-covid-19 The Fed has been in charge of the US Dollar since 1913. Think about this; a privately owned bank owns our money. So yes, they have benefited greatly over the past 100 years and they have wielded tremendous power. But the fractional reserve banking system that they put in place eventually collapses in on itself. This collapse is inevitable and is a result of their corruption. Many Austrian Economists have been excited about this collapse because they thought that when it collapses the corrupt system will be revealed and Americans will kick the corrupt bankers out. My opinion is that the Fed is hiding the collapse in the shadow of the virus, so the Fed doesn't take the blame for crashing the dollar. This would allow them to come to the rescue, do a complete reset and maintain their control and their power. Also, consider that the Fed creates currency out of thin air, but then it buys real assets with that currency. The Fed is the largest land holder in the world right now.
So for my whole life i have felt like a bit of a fool when it comes to money and understanding the economy.
On some level it has felt like a PONZI scheme that I just was too dumb to understand.
I didn't realize that on some level between school, my family and society- I was not supposed to really understand money. Because money the way we do it on our credit based system actually makes no rational sense whatsoever- you don't spend what you don't have. And you don't spend what is not backed by real currency otherwise you create an over inflated delusion where you simply use slight of hand and shuffle some papers and you make it look good but when you dig into the paper trail you actually see that what you thought was there was an over inflated estimate and not actual hard goods.
I have felt so completely stupid around money and mistrusting of it my whole life because i thought i was just dumb as to why I could not seem to understand it the way others did. But what I see now is that this whole economy is based on lies, illusions, manipulations, and deceit. Its not based on actual wealth just over inflatedperceptions by people who are fucking delusional and seek to control others.
So here i stand, knowing that the money scheme was a doosey and wanting for the first time to get really really clear about how one builds a strong sustainable economy with which a society can thrive.
Can you direct me to understanding how to be a builder of true wealth and what steps I need to take next to live beyond the illusion of money.
Allecia, wow. That is exactly the type of comment I hope for! I'm not going to provide financial advice (nor am I qualified to do so), but I will give you recommendations on how to learn more. First, from my observations, the VAST majority of financial planners / advisors are confident and competent when the system is working well, but most have no idea how the overall system of money works, which means that they don't know how to see if the dollar itself is in danger of crashing. Also, there are different schools of thought regarding economics and how money works. Most economists follow Keynesian economic theory, or Modern Monetary Policy, but in my opinion, these are not the people to listen to. I think the Austrian Economists have a much better understanding of how things work. I recommend a few people; Peter Schiff, Mike Maloney, and Richard Maybury. Ron Paul is also good. Each have books that are very good. For a good crash course in how the monetary system works, watch these videos: https://socratesgold.com/crucial-education-about-money/ The first book about money that actually got me excited about the subject was Rich Dad Poor Dad, by Robert Kiyosaki. But he also has a number of other great books, such as Cashflow Quadrant and Retire Young Retire Rich. The people who are most important to listen to at this crucial point in time are Peter Schiff and Mike Maloney. Listen to Peter's podcasts and Mike's daily videos, and go back and listen to past videos/podcasts. It really is a fun topic if you listen to the right people who can cut through all of the fog. Please tell me what your experiences are.
Thank You. You said very well what I have thought for sometime. I have been a small business owner (5 of them) since I was 21 in 1975. My father was an accountant and taught me many money smarts which I have passed on to my daughter, who is also my business partner, and she also has money smarts. People need to figure out that this closing of the country is far worse than the virus will ever be. I also believe the "man upstairs" is in charge and always has been and I remind myself everyday "if he brings you to it, he will bring you thru it"
Yes, as I said, "All each of us can do is the best we can do, then we turn it over to God." We each have to do the best we can, but that is all we can do.
Well, Glenn, I was hoping that the abolishment of the dollar in return for a government issued debit card was going to occur after my demise, not during my lifetime. Unfortunately, I believe your prediction of a national debit card and no cash is like predicting that a CME will bathe the earth. It isn't a question of "if" it is merely a question of "when?" We get bombarded by CME all the time. We just had one within the last ten days. Aurora Borealis was observed as far south as Missoula, Montana. The real question is when will a damaging CME hit?
I too see the issuance of debit cards and the confiscation of "excess" cash. The serfs will be allowed to cash in so much hard currency (not what is electronically stored in some financial institution, but what you have under your mattress) and all "excess" will be declared illegal the same as gold coins were declared illegal to be used as currency. They could be used as jewelry and my mother had a $10 gold piece made into a necklace. Unfortunately, she was unable to afford to turn more into jewelry. The same will be true of what we use as currency today. Metal pieces will be able to be retained as jewelry but all paper money over a certain amount will have to be turned in to be destroyed. Holding on to paper currency will become a federal criminal offense punished by confiscation of the currency, a fine levied against your debit card and prison.
I think if Trump is re-elected, then not in the next four years. After that if Gabby Nuisance, the present gubinator of Kallyforniya makes it into office or one of the other extreme leftist gubinators, it will happen in their second term. Not in a first term. I think that would result in whoever was in office at the time to not be elected for a second term.
I wish I could say your vision of what is going to happen was the result of a bad sandwich too late at night, but that would be wishful thinking. I believe you are correct in your assessment of the situation.
Thanks Chuck. Yes, it's hard to know the specifics and when stuff will happen, but we know that this is what they want to do. It goes back to the adage, People in Power Always Want More Power.
How is it that the Fed Reserve and the bankers benefit from collapsing our currency when their currency is also becoming worthless?
I explained this in my previous article: https://glenn.substack.com/p/my-perspective-of-covid-19 The Fed has been in charge of the US Dollar since 1913. Think about this; a privately owned bank owns our money. So yes, they have benefited greatly over the past 100 years and they have wielded tremendous power. But the fractional reserve banking system that they put in place eventually collapses in on itself. This collapse is inevitable and is a result of their corruption. Many Austrian Economists have been excited about this collapse because they thought that when it collapses the corrupt system will be revealed and Americans will kick the corrupt bankers out. My opinion is that the Fed is hiding the collapse in the shadow of the virus, so the Fed doesn't take the blame for crashing the dollar. This would allow them to come to the rescue, do a complete reset and maintain their control and their power. Also, consider that the Fed creates currency out of thin air, but then it buys real assets with that currency. The Fed is the largest land holder in the world right now.
So for my whole life i have felt like a bit of a fool when it comes to money and understanding the economy.
On some level it has felt like a PONZI scheme that I just was too dumb to understand.
I didn't realize that on some level between school, my family and society- I was not supposed to really understand money. Because money the way we do it on our credit based system actually makes no rational sense whatsoever- you don't spend what you don't have. And you don't spend what is not backed by real currency otherwise you create an over inflated delusion where you simply use slight of hand and shuffle some papers and you make it look good but when you dig into the paper trail you actually see that what you thought was there was an over inflated estimate and not actual hard goods.
I have felt so completely stupid around money and mistrusting of it my whole life because i thought i was just dumb as to why I could not seem to understand it the way others did. But what I see now is that this whole economy is based on lies, illusions, manipulations, and deceit. Its not based on actual wealth just over inflatedperceptions by people who are fucking delusional and seek to control others.
So here i stand, knowing that the money scheme was a doosey and wanting for the first time to get really really clear about how one builds a strong sustainable economy with which a society can thrive.
Can you direct me to understanding how to be a builder of true wealth and what steps I need to take next to live beyond the illusion of money.
Allecia, wow. That is exactly the type of comment I hope for! I'm not going to provide financial advice (nor am I qualified to do so), but I will give you recommendations on how to learn more. First, from my observations, the VAST majority of financial planners / advisors are confident and competent when the system is working well, but most have no idea how the overall system of money works, which means that they don't know how to see if the dollar itself is in danger of crashing. Also, there are different schools of thought regarding economics and how money works. Most economists follow Keynesian economic theory, or Modern Monetary Policy, but in my opinion, these are not the people to listen to. I think the Austrian Economists have a much better understanding of how things work. I recommend a few people; Peter Schiff, Mike Maloney, and Richard Maybury. Ron Paul is also good. Each have books that are very good. For a good crash course in how the monetary system works, watch these videos: https://socratesgold.com/crucial-education-about-money/ The first book about money that actually got me excited about the subject was Rich Dad Poor Dad, by Robert Kiyosaki. But he also has a number of other great books, such as Cashflow Quadrant and Retire Young Retire Rich. The people who are most important to listen to at this crucial point in time are Peter Schiff and Mike Maloney. Listen to Peter's podcasts and Mike's daily videos, and go back and listen to past videos/podcasts. It really is a fun topic if you listen to the right people who can cut through all of the fog. Please tell me what your experiences are.
Thank You. You said very well what I have thought for sometime. I have been a small business owner (5 of them) since I was 21 in 1975. My father was an accountant and taught me many money smarts which I have passed on to my daughter, who is also my business partner, and she also has money smarts. People need to figure out that this closing of the country is far worse than the virus will ever be. I also believe the "man upstairs" is in charge and always has been and I remind myself everyday "if he brings you to it, he will bring you thru it"
Thanks for the great comment!
The problem is with trusting in God is that people won’t even bother to fight, because they’ll think God will take care of everything for them.
I'm kind of more like an Onward Christian Soldier kind of gal.
Yes, as I said, "All each of us can do is the best we can do, then we turn it over to God." We each have to do the best we can, but that is all we can do.
Well, Glenn, I was hoping that the abolishment of the dollar in return for a government issued debit card was going to occur after my demise, not during my lifetime. Unfortunately, I believe your prediction of a national debit card and no cash is like predicting that a CME will bathe the earth. It isn't a question of "if" it is merely a question of "when?" We get bombarded by CME all the time. We just had one within the last ten days. Aurora Borealis was observed as far south as Missoula, Montana. The real question is when will a damaging CME hit?
I too see the issuance of debit cards and the confiscation of "excess" cash. The serfs will be allowed to cash in so much hard currency (not what is electronically stored in some financial institution, but what you have under your mattress) and all "excess" will be declared illegal the same as gold coins were declared illegal to be used as currency. They could be used as jewelry and my mother had a $10 gold piece made into a necklace. Unfortunately, she was unable to afford to turn more into jewelry. The same will be true of what we use as currency today. Metal pieces will be able to be retained as jewelry but all paper money over a certain amount will have to be turned in to be destroyed. Holding on to paper currency will become a federal criminal offense punished by confiscation of the currency, a fine levied against your debit card and prison.
I think if Trump is re-elected, then not in the next four years. After that if Gabby Nuisance, the present gubinator of Kallyforniya makes it into office or one of the other extreme leftist gubinators, it will happen in their second term. Not in a first term. I think that would result in whoever was in office at the time to not be elected for a second term.
I wish I could say your vision of what is going to happen was the result of a bad sandwich too late at night, but that would be wishful thinking. I believe you are correct in your assessment of the situation.
Thanks Chuck. Yes, it's hard to know the specifics and when stuff will happen, but we know that this is what they want to do. It goes back to the adage, People in Power Always Want More Power.
Excellent article as usual. I hope folks wake up and see the man behind the curtain and that he certainly doesn't have our best interests in mind.
Thank you Linda!
Excellent article as usual. I hope folks wake up and see the man behind the curtain and that he certainly doesn't have our best interests in mind.