The rise of World Money
derryb
Posts: 36,825 ✭✭✭✭✭
"The task of re-liquefying the world will fall to the IMF because the IMF will have the only clean balance sheet left among official institutions. The IMF will rise to the occasion with a towering issuance of special drawing rights (SDRs), and this monetary operation will effectively end the dollar’s role as the leading reserve currency."
"Based on past practice, we can expect that the dollar will be devalued by 50–80% in the coming years. A devaluation of this magnitude will wipe out the value of your life’s savings. You’ll still have just as many dollars, but they won’t be worth nearly as much. Individuals will not be allowed to own SDRs, but you can still protect your wealth by buying gold — if you can find any."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Comments
Hasn't Jim Rickards made this forecast before?
Well, Peter Schiff had to make his forecast numerous times until he was right not one but two times. One thing I've noticed about people who understand the economy: they are usually early with their warnings.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Almost everyone who has predicted "the end" has in fact, met their end. Yet here we are.
Knowledge is the enemy of fear
Yet here we are, right where Schiff and Rickards told us we would be. You shoulda listened.
Boom and bust cycles, thanks to your FED, are quite predictable. Predicting the end of a cycle, along with it's ramifications and preparations, is not the same as predicting the end of the world.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Schiff has been like a broken record for decades. His record skipped and suddenly he was right for about 5 minutes. Since then he's right back to snake oil salesman. If you look to people like Schiff, Rickards, zero hedge, turd, king world news for advice I am sure you finances have not yielded 10% the return of Joe the plumber.
The whole worlds off its rocker, buy Gold™.
Everything is awesome, that Fed guy on 60 Minutes told me they could create infinite currency in 🤡🌎
...of course he said nothing about being able to preserve its purchasing power.
...of course he said nothing about being able to preserve its purchasing power.
don't worry, as long as there's something on your gov.com digital wallet, you might get your ration after standing in line all day...
I knew it would happen.
Hey guess what? I predict we will have more boom and bust cycles in the future.
That will be $9.99 bill monthly. Thank you.
Knowledge is the enemy of fear
@cohodk said "Hey guess what? I predict we will have more boom and bust cycles in the future."
Didn't Keynes say that!
Even a broken clock is right twice a day.
Dont be stealing my thunder. Im on the road to precision economic forecasting and the devotion of 10s of followers.
That will cost you $9.99. Paypal FFG only. Lol
Knowledge is the enemy of fear
Well I would place a sizable wager that this prediction will not come true - at least not in the foreseeable future. Perhaps under a 'one world domination' it could happen.... not in today's world. Cheers, RickO
It appears that the Fed is making an end run around the IMF, but it's a little hard to distinguish between the two.
I knew it would happen.
As pointed out in the OP, the FED is killing the dollar, setting up a play by the IMF.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
As pointed out in the OP, the FED is killing the dollar, setting up a play by the IMF.
Consider what this guy has been saying:
He's been spot-on for the 3 or 4 weeks that I've been watching his video blog.
I knew it would happen.
jmski52, thanks for the video... he does seem pretty sincere about his message. And likely there is truth in what he says. But what choice do we really have?
"Not another guy on the planet that pegged this more than me!"
I heard enough.
LOL.
So whats this guys point? Please summarize for me.
Knowledge is the enemy of fear
@tincup:
He's been dead accurate and his thesis doesn't have any holes in it, as far as I can tell...
I knew it would happen.