The Greatest depression is coming, are you ready?
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Psalm 49:5 Wherefore should I fear in the days of evil, when the iniquity of my heels shall compass me about?
6 They that trust in their wealth, and boast themselves in the multitude of their riches;
7 None of them can by any means redeem his brother, nor give to God a ransom for him:
8 (For the redemption of their soul is precious, and it ceaseth for ever
9 That he should still live for ever, and not see corruption.
10 For he seeth that wise men die, likewise the fool and the brutish person perish, and leave their wealth to others.
11 Their inward thought is, that their houses shall continue for ever, and their dwelling places to all generations; they call their lands after their own names.
12 Nevertheless man being in honour abideth not: he is like the beasts that perish.
13 This their way is their folly: yet their posterity approve their sayings. Selah.
6 They that trust in their wealth, and boast themselves in the multitude of their riches;
7 None of them can by any means redeem his brother, nor give to God a ransom for him:
8 (For the redemption of their soul is precious, and it ceaseth for ever
9 That he should still live for ever, and not see corruption.
10 For he seeth that wise men die, likewise the fool and the brutish person perish, and leave their wealth to others.
11 Their inward thought is, that their houses shall continue for ever, and their dwelling places to all generations; they call their lands after their own names.
12 Nevertheless man being in honour abideth not: he is like the beasts that perish.
13 This their way is their folly: yet their posterity approve their sayings. Selah.
Our annual interest payments on National Debt are approaching $1 Trillion per year.
Now let's run a few hypotheticals.
1. Suppose we have to pay more money in this war with Russia.
2. As a result we have to borrow more money at at time when our biggest lenders are involved in "dedollarization".
3. Meanwhile interest rates are rising.
My point is raising the interest on our debt just a little when we are maxed out on our credit card is going to be a tipping point. Meanwhile next month we are going to see more than 50% of the world's GDP switch to BRICS, it is currently at 40% with 40 more countries that want to join. That is going to accelerate the "de dollarization". The only way to redeem debt that these countries put on the market is to print money, hence the US dollar will continue to fall compared to a gold backed security like BRICS.
BTW our national debt is over 90% of our GDP. This would be like a guy who makes 100k a year trying to pay off a car which cost him 90k while still paying his house payment, utilities, food, etc.
Now let's run a few hypotheticals.
1. Suppose we have to pay more money in this war with Russia.
2. As a result we have to borrow more money at at time when our biggest lenders are involved in "dedollarization".
3. Meanwhile interest rates are rising.
My point is raising the interest on our debt just a little when we are maxed out on our credit card is going to be a tipping point. Meanwhile next month we are going to see more than 50% of the world's GDP switch to BRICS, it is currently at 40% with 40 more countries that want to join. That is going to accelerate the "de dollarization". The only way to redeem debt that these countries put on the market is to print money, hence the US dollar will continue to fall compared to a gold backed security like BRICS.
BTW our national debt is over 90% of our GDP. This would be like a guy who makes 100k a year trying to pay off a car which cost him 90k while still paying his house payment, utilities, food, etc.
https://rumble.com/v32psv4-its-goin...ks-through-alarming-economic-indicators..html
‘It’s Going To Collapse’: Dave Brat Walks Through Alarming Economic Indicators.
‘It’s Going To Collapse’: Dave Brat Walks Through Alarming Economic Indicators.
Headlines concerning Silver arranged in order from last fall
Russian Gold & Silver Banned from Global Markets
March 2022
Since the start of the #SilverSqueeze movement in Q1 2021, over -317,000,000 oz of reported silver bullion has left the combined London and COMEX silver warehouses. Silver industry data illustrates western investors and India have gotten their fair share of that vanishing silver pile.
October 2022
Comex: Silver registered ratio falls to 11.1% — lowest in 22 years.
December 19, 2022
Mexico's lawmakers approve overhaul of mining industry
April 2023
Silver faces ‘unprecedented’ shortages as demand outpaces supply
July 7, 2023
Russian Gold & Silver Banned from Global Markets
March 2022
Since the start of the #SilverSqueeze movement in Q1 2021, over -317,000,000 oz of reported silver bullion has left the combined London and COMEX silver warehouses. Silver industry data illustrates western investors and India have gotten their fair share of that vanishing silver pile.
October 2022
Comex: Silver registered ratio falls to 11.1% — lowest in 22 years.
December 19, 2022
Mexico's lawmakers approve overhaul of mining industry
April 2023
Silver faces ‘unprecedented’ shortages as demand outpaces supply
July 7, 2023
Hey when I saw your post I remembered reading different articles about this several years back (this is an example I found there were others I read back then) https://asia.nikkei.com/Spotlight/D...lf-the-world-s-grain-pushing-up-global-prices
Bolivia Uses Yuan For Foreign Trade, Poses Challenge To US Dollar Hegemony In The Region
Bolivia Uses Yuan For Foreign Trade, Poses Challenge To US Dollar Hegemony In The Region South American nation Bolivia is now using Chinese currency yuan to pay for imports and exports. Bolivia has become the latest country in South America to regularly use the Chinese currency after Brazil and Argentina. Bolivian Economy Minister has said that between May and July of this year, the country conducted 10 per cent of its foreign trade in Chinese yuan. Bolivia's move poses a growing challenge to the hegemony of the US dollar for international financial transactions in the region.
Bolivia Uses Yuan For Foreign Trade, Poses Challenge To US Dollar Hegemony In The Region South American nation Bolivia is now using Chinese currency yuan to pay for imports and exports. Bolivia has become the latest country in South America to regularly use the Chinese currency after Brazil and Argentina. Bolivian Economy Minister has said that between May and July of this year, the country conducted 10 per cent of its foreign trade in Chinese yuan. Bolivia's move poses a growing challenge to the hegemony of the US dollar for international financial transactions in the region.
The Biden Downgrade
White House 'strongly disagrees' with US credit downgrade, blaming Republicans
https://www.washingtonexaminer.com/...s-with-us-credit-downgrade-blames-republicans
The White House disagrees that the United States deserved a credit downgrade — and says Republicans are to blame.
White House 'strongly disagrees' with US credit downgrade, blaming Republicans
https://www.washingtonexaminer.com/...s-with-us-credit-downgrade-blames-republicans
The White House disagrees that the United States deserved a credit downgrade — and says Republicans are to blame.
21 Nations Including Our Allies Are Now Dumping US Debt At An Alarming Rate
On July 18th the US Department of The Treasury revealed that the top foreign holders of U.S. Treasury bonds / debt are selling off their holdings at an alarming rate.
Japan, which is #1 holder reduced its U.S. Treasury bonds by $30.4 billion in May.
China reduced its holdings of U.S. Treasury bonds by $22.2 billion in May. This marks the second consecutive month of reduction and brings its total holdings close to the historical low of 801.5 billion dollars.
China has been steadily reducing its holdings since August of last year.
But here is the surprising news that everyone should start paying attention to.
In April at least 19 countries globally have sold off U.S. Treasury bonds leading to a reversal in the flow of funds invested in U.S. Securities.
We know about China and Japan.
But …
Why this is interesting is The Caymans and Bermuda are two island states that so many companies and individuals have “offshore accounts. In fact, if you have ever been to the Caymans, all you see are bank offices everywhere. So even banking nations are fleeing US debt / T-bills.
Even strong allies like the UK which is the third largest holder of U.S. Treasury bonds sold off $14.1 billion in May marking the second consecutive month of US debt reduction, with a total sell off of $44.5 billion for April and May combined.
Australia also sold off U.S. Treasury bonds for the second consecutive month selling $6.5 billion in May representing a sell off rate of 11%.
Israel sold off $3.8 billion in April and May reducing its holdings from the peak of $69 billion in December 2021 to $43.5 billion. Israel has been in a continuous state of selling off US debt.
Saudi Arabia sold off $4.9 billion in May and Saudi Arabia’s holdings have declined from a peak of $184.4 billion two years ago to $111.3 billion with a cumulative net sell off of $73.1 billion a sell off rate of around 40%.
The UAE sold off $1.2 billion of U.S. Treasury bonds in May.
Iraq has been selling off U.S. Treasury bonds continuously since February, which is no surprise with a total of $8.5 billion representing a 21% sell off rate with only $32.7 billion U.S. debt held.
https://raymondmhor.com/2023/07/21-nations-are-now-dumping-us-debt/
On July 18th the US Department of The Treasury revealed that the top foreign holders of U.S. Treasury bonds / debt are selling off their holdings at an alarming rate.
Japan, which is #1 holder reduced its U.S. Treasury bonds by $30.4 billion in May.
China reduced its holdings of U.S. Treasury bonds by $22.2 billion in May. This marks the second consecutive month of reduction and brings its total holdings close to the historical low of 801.5 billion dollars.
China has been steadily reducing its holdings since August of last year.
But here is the surprising news that everyone should start paying attention to.
In April at least 19 countries globally have sold off U.S. Treasury bonds leading to a reversal in the flow of funds invested in U.S. Securities.
We know about China and Japan.
But …
- the UK
- Belgium
- India
- Norway
- Saudi Arabia
- Netherlands
- The UAE
- Thailand
- Spain
- Australia
- Philippines
- Israel
- Sweden
- Colombia
- Vietnam
- Iraq
- And the Bahamas among others have sold off U.S. Treasury bonds to varying degrees.
Why this is interesting is The Caymans and Bermuda are two island states that so many companies and individuals have “offshore accounts. In fact, if you have ever been to the Caymans, all you see are bank offices everywhere. So even banking nations are fleeing US debt / T-bills.
Even strong allies like the UK which is the third largest holder of U.S. Treasury bonds sold off $14.1 billion in May marking the second consecutive month of US debt reduction, with a total sell off of $44.5 billion for April and May combined.
Australia also sold off U.S. Treasury bonds for the second consecutive month selling $6.5 billion in May representing a sell off rate of 11%.
Israel sold off $3.8 billion in April and May reducing its holdings from the peak of $69 billion in December 2021 to $43.5 billion. Israel has been in a continuous state of selling off US debt.
Saudi Arabia sold off $4.9 billion in May and Saudi Arabia’s holdings have declined from a peak of $184.4 billion two years ago to $111.3 billion with a cumulative net sell off of $73.1 billion a sell off rate of around 40%.
The UAE sold off $1.2 billion of U.S. Treasury bonds in May.
Iraq has been selling off U.S. Treasury bonds continuously since February, which is no surprise with a total of $8.5 billion representing a 21% sell off rate with only $32.7 billion U.S. debt held.
https://raymondmhor.com/2023/07/21-nations-are-now-dumping-us-debt/
He said something interesting, he said "we don't want to go there, at least I don't". Charlie Munger is a billionaire, financially he could not be more set. Very few people on this planet are as financially secure as Charlie Munger. So he realizes that for himself these changes would be bad, but he also realizes that he may very well be in the minority.
This is what a democracy is, the majority have to want to keep the status quo or else you are going to become unstable.
Think about when they shipped off the NAFTA jobs overseas. If you had a high paying manufacturing job and you lost it because of that and your town or city went downhill fast like Detroit, then sure, you may want some rabble rouser. So it is very important that the hurt caused by sending manufacturing overseas is temporary. You can't have a policy that destroys your manufacturing without also having a policy that will replace it so that in twenty years that community that lost has been revitalized. Roger Ailes came from the rust belt, this was where Fox and the Tea party originated. But our government ignored them and called them deplorables and irredeemable. That is a heinous behavior.
Then think about the 2008 mortgage meltdown. It was criminal, the banks were violating the law and yet no one was punished, no one was prosecuted, no one was penalized. Why should someone who got robbed in the 2008 crisis continue to want the status quo? Why should someone who had their job shipped overseas continue to want the status quo? Then consider the WMD's we went over to Iraq to find. If your son or daughter got killed or maimed fighting bogus wars against make believe enemies why should you still want to keep the status quo? Now let's consider the 2020 election, the pandemic, the vaccine mandates, the southern border, the injustice of how Hunter Biden has been treated. Each of these things causes more and more people to feel disenfranchised. You cannot have a democracy if 70% of the voters think the election is fraudulent. Think of the people who have been imprisoned or had a family member who was and they see how Hunter Biden is treated. You think they want to keep the status quo?
A nation is built on righteousness as the foundation, if the foundation is unrighteous the nation cannot stand.
This is what a democracy is, the majority have to want to keep the status quo or else you are going to become unstable.
Think about when they shipped off the NAFTA jobs overseas. If you had a high paying manufacturing job and you lost it because of that and your town or city went downhill fast like Detroit, then sure, you may want some rabble rouser. So it is very important that the hurt caused by sending manufacturing overseas is temporary. You can't have a policy that destroys your manufacturing without also having a policy that will replace it so that in twenty years that community that lost has been revitalized. Roger Ailes came from the rust belt, this was where Fox and the Tea party originated. But our government ignored them and called them deplorables and irredeemable. That is a heinous behavior.
Then think about the 2008 mortgage meltdown. It was criminal, the banks were violating the law and yet no one was punished, no one was prosecuted, no one was penalized. Why should someone who got robbed in the 2008 crisis continue to want the status quo? Why should someone who had their job shipped overseas continue to want the status quo? Then consider the WMD's we went over to Iraq to find. If your son or daughter got killed or maimed fighting bogus wars against make believe enemies why should you still want to keep the status quo? Now let's consider the 2020 election, the pandemic, the vaccine mandates, the southern border, the injustice of how Hunter Biden has been treated. Each of these things causes more and more people to feel disenfranchised. You cannot have a democracy if 70% of the voters think the election is fraudulent. Think of the people who have been imprisoned or had a family member who was and they see how Hunter Biden is treated. You think they want to keep the status quo?
A nation is built on righteousness as the foundation, if the foundation is unrighteous the nation cannot stand.