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Monday, August 15, 2022

Watching the Predicted Collapse of the U.S. Dollar in Real Time

 I live in a quiet little town in the western United States not too far from California.

We are suffering a tremendous influx of California residents into our area as the California population tries to escape sky rocketing taxes, ridiculous real estate pricing, crime, and a communist acting, trust funder, Getty oil connected Governor and complicit state legislature.

The people in my area are convinced that the Californians are to blame for disrupting their quiet lifestyle, choking our streets, and driving taxes up. I see the plates too, but I know better.

Californians fleeing here are the manifestation of a much larger problem. They are the symptoms not the disease.

In 2008-2009, about the time I began writing on FG, we saw the Federal Government hijack a trillion or so from US taxpayer coffers and bail out their campaign donor banker friends. If that weren't bad enough, they passed the Affordable Care Act to bail out the closely connected health insurance industry which was on the verge of complete collapse also.

Then we saw a federal government go completely off the rails- creating trillions and spending them without restraint. That left us looking like this.

Bear in mind this chart is 10 years old. The new line would look far worse.

I have this kind of crazy, US history, economics, equity trading, background despite the fact that I spent my younger years, 24 of them, in law enforcement. I am a voracious reader as well and I comprehend and capture most of what I have read.

So when you read this blog, I am well aware of the history of the civil war greenback, the US dollar, how the Federal Reserve Bank came into existence, how they caused a depression 16 years later, how FDR seized US citizen's gold, and once he had it, he revalued it. I know how the dollar became the world's reserve currency, how Nixon removed the gold standard and replaced it with the petro dollar. From there on in, the early 70's, all of your congressmen and Presidents have spent us into oblivion. Some caused far more damage. Clinton signing free trade agreements, removing all of the banking obstacles put into place after the Great Depression, caused the Great Recession. Just 8 years later.

Throughout the history of the United States, particularly from 1913 forward, we have been plundered by that central bank and by politicians to such an extent- that we are now bankrupt. The dollar is worthless. It is backed by nothing. A share of stock, a piece of paper, goes for 1000 bucks. A puny little house that cost 10,000 in 1950, is now worth 400,000. A candy bar I bought as a child for 10 cents, now is 1.50. That's 1500% for a candy bar.

I am in amazement that you can still buy gold right now for 1850 dollars USD. That is a steal. Were it to be completely valued, given true price discovery and removal of all of the manipulations of investment bankers in the futures market, gold should be worth 30,000 or up. 

This latest bill, the Inflation Reduction Act, is a lie and deception on the greatest scale. Watching these journalism idiots and sycophants trumpet that piece of shit as a panacea, showcases just how stupid and out of touch with history most of those writers are.

Why do you think they need 87,000 IRS agents? Because they are desperate. They can't pay for all of this spending they've done for decades but they are going to try.

It's going to suck bad. They have already wrung every deduction they can out of a standard 1040 and it is going to get worse. Much, much worse. Absolute government thievery and exploitation to avoid all of that debt defaulting. This will get very bad. I wish it could go some other way but there is no political courage out there. 

Don't blame people as they try to flee to somewhere they can afford, some place safer, where the government boot is not on your throat. Watch California. It is going to shit. It has always been the canary in the US coal mine.

At this point all you can do is prepare. Eliminate as much debt as possible. Keep cash and gold on hand. Ammunition and guns. Prescription meds. A food and water supply. Fuel and generators. God and family. 

People should see this for what it is. A complete implosion of the USD with Nero fiddling in Washington. What a shame. This was a great country once but there is no intervention, no stopping this now.



MMinWA said...

Throw in a completely out of fucking control DOJ/FBI now arresting anyone voicing oppo to this shitshow. Plus almost 1,000 people arrested(and counting) for the 1/6 "insurrection" with 100s held without bail in unspeakable conditions. A guy just got 7 years for walking around the Capital...

The latest virus scam is slowly working it's way to another lockdown/relaxed voting conditions that negate any hope of voting HARDERER our way back to any semblance of sanity.

While Nancy's son is the second largest stockholder in a Chinese chip manufacturer but don't worry, the Communists there are a bacon of democracy. And they're watching out for us by dumping another almost trillion dollars of fairy dust money into the economy.

I wonder what the reaction will be when another blatant election fraud happens. I'm afraid of that answer.

Brian said...

These are crazy times MM. Think about the FBI masterminding the whole plot to kidnap Gretchen Whitmer- WTF IS GOING ON???

In what banana republic do they allow national police to conspire to kidnap public officials and when caught- nothing happens??


MMinWA said...

The lead FBI guy in MI on the Whitmer kidnapping beat the shit out of his wife when she balked after he took her to a swinger's party.

Efrem Zimbalist is spinning in his grave.

The argument I get is, Oh but Wray is a Trump appointment. They just don't get it.