The electorate has been described by our leaders as a "basket of deplorables", "garbage" and "scoundrels". Besides that, they do truly care.
Trust me when I tell you that this is the prevailing attitude among a majority of our political leaders. Dat's why they call them the "Elite" don't you know.
Friday, April 7, 2023
China's Attack On The Dollar - How It Will Impact You
No outside attacks on the dollar have been anywhere near as horrible as the attacks on the dollar by the Federal Reserve. 99% loss in purchasing power/value since 1913.
the US dollar is still the world’s reserve currency. While 100% of global trade used to be conducted in the dollar, with the recent exodus, it’s now “only” 97%. The dollar will cease to be the reserve currency only when that number goes below 30%, which is what he says happened with the British Pound. It took over 20 years for the British Pound to get to the point where it lost its world reserve currency status. My financial guy friend says this is something that cannot and will not switch overnight – and Ed Dowd seems to agree. Ed says: “Even though there’s inflation, putting your money in stocks that are going to go down 40%-50%, as opposed to 9% inflation in one year, I think I’d rather have the cash and then buy stocks lower. So, I’m just telling people to buy 3-month T-bills or very safe government money market funds until the storm passes… “What the Fed just did with the Silicon Valley Bank and what they did in Europe is going to basically going to put a finger in the dyke, so things are going to seem OK for a month or two but they really didn’t fix anything so we’re just gonna have this kind of slow, controlled implosion over the next year or two. “I’m hoping it’s not fast, because anything fast creates panic and chaos – which they can’t control – so, I think they want to engineer a slow kind of demolition. So, in the next couple of weeks, you may see the stock markets rally and everybody say ‘Everything’s fine!’ but it’s not fine. It’s not fine… “I don’t know the timing…but I’ve been telling people – without giving financial advice – if you have a 401K and you’re worried about your retirement, it would be prudent idea to, whatever amount of cash you want, put it in a money market fund, look at those options – and wait! “And then, when everybody is screaming at the top of their lungs and the taxicab drivers are saying that the end of the world is nigh, you buy. “Because right now, the taxicab driver is telling you that the dollar is going to end. Well, the dollars’ not going to end. The dollar’s going to fail up. It’s going to Moon.”
No outside attacks on the dollar have been anywhere near as horrible as the attacks on the dollar by the Federal Reserve. 99% loss in purchasing power/value since 1913.
ReplyDeletethe US dollar is still the world’s reserve currency. While 100% of global trade used to be conducted in the dollar, with the recent exodus, it’s now “only” 97%.
ReplyDeleteThe dollar will cease to be the reserve currency only when that number goes below 30%, which is what he says happened with the British Pound. It took over 20 years for the British Pound to get to the point where it lost its world reserve currency status.
My financial guy friend says this is something that cannot and will not switch overnight – and Ed Dowd seems to agree.
Ed says:
“Even though there’s inflation, putting your money in stocks that are going to go down 40%-50%, as opposed to 9% inflation in one year, I think I’d rather have the cash and then buy stocks lower. So, I’m just telling people to buy 3-month T-bills or very safe government money market funds until the storm passes…
“What the Fed just did with the Silicon Valley Bank and what they did in Europe is going to basically going to put a finger in the dyke, so things are going to seem OK for a month or two but they really didn’t fix anything so we’re just gonna have this kind of slow, controlled implosion over the next year or two.
“I’m hoping it’s not fast, because anything fast creates panic and chaos – which they can’t control – so, I think they want to engineer a slow kind of demolition. So, in the next couple of weeks, you may see the stock markets rally and everybody say ‘Everything’s fine!’ but it’s not fine. It’s not fine…
“I don’t know the timing…but I’ve been telling people – without giving financial advice – if you have a 401K and you’re worried about your retirement, it would be prudent idea to, whatever amount of cash you want, put it in a money market fund, look at those options – and wait!
“And then, when everybody is screaming at the top of their lungs and the taxicab drivers are saying that the end of the world is nigh, you buy.
“Because right now, the taxicab driver is telling you that the dollar is going to end. Well, the dollars’ not going to end. The dollar’s going to fail up. It’s going to Moon.”
https://www.lewrockwell.com/2023/04/no_author/the-incoming-financial-collapse-and-what-you-should-do-edward-dowd/