Post by
Luke555 on Jul 13, 2023 12:59pm
USD TO FALL AS GLOBAL RESERVE CURRENCY
Shareholders, the material in this article is for information only and should not be treated as investment advice. Just sharing some of my beliefs and insights.
Here’s an interesting headline:
“The US Feds and large bullion banks know how bad it’s going and they’re going to do everything they can to keep gold prices down before they skyrocket”
Houston, We Have A Problem
Egon von Greyerz, monetary expert: US Debt has gone up 35X since 1981 but that tax revenue has only increased 8X from $0.6 trillion to $4.9t. How can any sane person believe that with debt going up 4.5X faster than tax revenue that the debt can ever be repaid?
Back in 1971, US President Nixon went off the gold standard (lasted over 200 years) as the world reserve currency and the US Feds began printing USD at a relentless pace and made USD as the global reserve currency. Today, the US economy is drowning in debt, with over 30T and climbing on a daily basis. It’s incredible that the Chairman of the Federal Reserve, Jerome Powell with his insane policies is throwing kerosene on the fire. Just looking and analyzing the above figures, any reasonable person with a basic understanding of finance would surmise that US economy is heading for bankruptcy. Is this conclusion that simple?
As noted above, at this rate of producing fiat USD, world monetary experts are predicting based on all indicators in the trend forecast, the collapse of the US economy will begin to happen in September and October. What happens when the US Feds cannot meet its financial obligations, just print more dollars? The everyday hard working US citizen does not have that option. Time to buckle up…
Today, the largest world economies want to return to a gold standard as the global reserve currency in order to have a world level economic playing field. I firmly believe that the economic bubble in the U.S.A. is about to bust. We are certainly living in interesting times and we are about to witness an historical event.