Today one of the greats in the business said, “We’ve been expecting this to happen for a hell of a long time.”
November 21 (King World News) – Eric King: “Alasdair, when you step back and look at the big picture monetarily, you are looking at more money printing in Europe and England as well. But talk about what you expect to see going forward because hyperinflationary collapses tend to draw out, and you have brought up many times that we are on the cusp of this bit it could drag on a bit longer.”
Alasdair Macleod: “Picking up on your last point, yes, we’ve been expecting this to happen for a hell of a long time. And now that it’s here, it’s hard to believe. But just look at the situation with the dollar. The dollar is the world’s leading currency, everybody’s reserve currency. It is a fiat currency not backed by anything but ‘full faith and credit’ in the US government. ‘Full faith and credit’ which I must say is disappearing quite rapidly. Your government, at the moment, is relying more on money printing as a source of finance for government spending than it is on taxes. So already you are in a hyperinflationary situation.
This COVID situation (impact on the global economies) is not something that is going to go away (quickly). It is going to require more and more money printing by the Fed if the objective is to stop the US economy and rest of the world’s economy from falling into a deep, deep slump. And by ‘deep slump’ I mean something at least as bad as the 1930s and probably even worse.
Money printing does not cure it but it is the only thing that they understand — the Keynesian idea that you can stimulate people by producing money. It’s complete rubbish. You can do it for a brief period of time, but as a continuing monetary policy it is obviously crazy because what you are doing is you are transferring wealth from people to the government. It is as deliberate as that. That is what they are doing.
So we’re being impoverished, if you like, as non-governmental people, organisms, economic actors. We are being impoverished in order to keep the government going. And nowhere is this more noticeable than in America with the dollar. The dollar is already hyperinflating. And the effect on the purchasing power of the dollar is something that will be revealed over the next two or three months. The dollar is toast.
And it’s not just the dollar, it’s all of our fiat currencies. I think we are on the cusp of a major historical moment — the destruction of a monetary system…this is an incredibly important audio interview with Alasdair Macleod discussing the rapid approach of hyperinflation and everyone around the world should listen to it immediately by CLICKING HERE OR ON THE IIMAGE BELOW.
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