US Dollar has Started to Tank ~ Peter Schiff … (Death of the Dollar–26) with Video

2개월 전

We can no longer kick the can down the road.
Peter Schiff, on USA Watchdog – "US Dollar has Started to Tank"       
(Right-click title to watch on YouTube)

   (Image source)

      




– Flash Points –

1 – The massive amounts of QE money-printing should concern everyone.
2 – QE has given many people a false sense of complacency.
3 – We kicked the can down the road, but have now caught up to the can.
4 – The dollar has started to tank, and it will continue to plummet.

– Synopsis –

In a recent appearance on Greg Hunter’s show “USA Watchdog,”  Peter Schiff proclaimed that everyone should be more worried than they were in 2009 and 2010, when the Federal Reserve started its “quantitative easing”  (QE) money-printing programs. 

Can Can No Longer be Kicked 

According to Schiff, the Fed’s 3 previous QE programs have lulled many people into “a false sense of complacency.”  Those programs have not (yet) resulted in hyperinflation or in a loss of confidence in the US dollar. Since there have been no negative consequences, and since we got away with it the last 3 times by kicking the can further and further down the road, people believe that we can get away with it again.    (Image source)

But now that the corona virus pandemic has burst the most recent bubble, we will soon feel the effects of not only the current QE-4, but also the cumulative effects of the previous QE programs.

Now that the Fed is going “all in,”  said Schiff, we “have caught up to the can.”  Moreover, we can be certain that the dollar “is going to tank.”  That tanking dollar will lead to huge increases in consumer prices and interest rates – not to mention inflation and probably even hyper-inflation.  

Deeper and Greater 

Since the situation has become so horrible, and since our predicament has become so dire, Schiff believes that we will soon be in the midst of a “deeper economic contraction”  – one that will be much worse than the Great Depression of the 1930s. During that downturn, prices dropped. This time, we will not be so lucky. 

Economic Deathbed 

The CV pandemic did not cause the current collapse. The pandemic was simply the trigger and the catalyst – the pin that finally pricked the massive bubble. Even before the pandemic hit, the economy was doomed. Contrary to the frequent assertions by Prezint Drumpf that the US economy was doing well, it has actually been on the brink of collapse for years.    (Image source)

The only way the economy survived was through QE and the quixotically low interest rates. It is now on its deathbed. It will not survive much longer. The hapless policies of our clueless leaders will “end in disaster.”


– Insight from Outside –

Today, we are in a situation that is much worse than when the Fed started its fast and furious “quantitative easing”  (QE) money-printing programs. 

All is Not Well

After the Fed started printing tons of money following the 2008 crash, Schiff and many other observers became quite concerned about the harmful effects the monetization would have.    

The printing did not stop, nor did the harm. Strangely, however, the concerns and worries about the ramifications did stop. Even though the money-printing continued, even though it went out of control, and even though it reached unsustainable levels, many people nowadays seem to believe that all is well and that all will continue to be well. 

Extend and Pretend 

The powers-that-be essentially followed a policy of “extend and pretend.”  In other words, just continue with their futile, destructive policies, and hope against all hope that things might somehow turn out well. Even though there was no chance in hell that the situation would improve.   

Empire Doomed to Collapse  

That insanity has continued for over 10 years now. Things have not improved, nor have they turned out well.  The economy has been on life-support for years. Drumpf’s declarations about the US having “the strongest economy in the history of the universe”  are nonsense.    

As Egon von Greyerz once said, money-printing signifies “the last stage of an empire before it collapses.”  The US economy was doomed, and now it is doomed to collapse.    (Image source)

https://cdn.steemitimages.com/DQmUvL82cXWXmEfi2rcyoNQtmwxtBWxeVZdkA4N1oGkuJEx/image.png
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The truth is that I share the opinion that Peter Schiff has on the exaggerated and disorderly printing of money; I think that the terrible consequences that this would end at the moment will not be seen yet, and this will not be long. We are facing a great debt crisis and few will be the lifeguards we have at our disposal.

However, despite Peter Schiff's views on bitcoin, I see it as an accessible asset shelter, for now, and its consideration will grow among many people of different classes.

The consequences will not be very good, only starting with the majority of the indicators of production of some metals decreased compared to the first quarter of 2019, there is talk of a 2-digit GDP contraction in several countries in Europe and the unemployment rate in the united states it already exceeds 36,000,000, more than the entire great recession; These data are only the tip of the iceberg of what comes to us.

The can already touched the wall and now it is returned to us.

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·

Well put. There are those who say the can is so large that any kicking of it will be pointless. And as you say, that huge can is now rolling back towards us. Those who are not prepared will be crushed.

This post has been rewarded by the Steem Community Curation Project. #communitycuration06

Hello @majes.tytyty
It's a bit of a daunting post, but the reality speaks for itself. For those of us who don't have a very deep knowledge of economics, what we see and perceive is just a rise in prices, unemployment, crime, among other things.
But looking at it in detail, it could scare many, it seems that this decade will be full of unpleasant surprises. for most.
All in all, it's lucky to be on this platform, one can have other perspectives.
Thank you for sharing this information.

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Yep, the reality is what it is, but that does not ensure that everyone will learn it. I went thru many of my younger years absolutely clueless about the economy.

I started reading and learning about the world of economics and finance only after the 2008 crash. I finally learned that the goings on in those worlds are often based on pure fantasy, if not fraud and outright theft.

These times are scary, and people will eventually learn the truth about our unstable situation. The sooner anyone learns, the better.

Thanks for your input.

Although the government has been trying to convince us that they can manage the economic situation in order to prevent panic, some of us surely know that what may happen after the pandemic is really scary but through it all, we just hope for the best.

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So true. In fact, I believe that the government is so foolish that it's even trying to convince "ITSELF" that they can manage the coming economic crisis. It can't, and it won't.

Truly scary after effect of the pandemic, I am even more scared for my country because the rate of poverty was high even before the pandemic came along, I really wonder what the situation would look like when the pandemic is over.

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The situation will not be pretty. Post pandemic, we cannot expect much improvement in the economy.

Wow! What a great post to read and one that fits the narrative that I have been attuned to for quite some time.

All the way through as I was reading I was thinking of writing a comment regarding the fact that every economic system that has ever endured 200 years or so has collapsed, poof! Gone forever, the warning signs and indicators this also gives regarding societal collapse and low and behold you covered it toward the end...

Empire Doomed to Collapse

I do not think this analysis should be taken lightly and huge lessons would need to be learned incredibly quickly to escape what seems to be an almost certain fate. Alas, governments move slowly and stubbornly. Often the populace refuse to believe until it is far too late. They believe that the media would have told us if this was the direction in which we were heading...

The CV pandemic did not cause the current collapse. The pandemic was simply the trigger and the catalyst – the pin that finally pricked the massive bubble.

Oh yes my friend! The truth is that some problems are just SO BIG that they refuse to even address them, instead focusing on small, almost irrelevant in comparison matters.

ThankYOU for the amazing coverage and analysis of the train that is hurtling down the track! Take great care of you and yours😎