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2021 economic news with PM relevance

derrybderryb Posts: 36,025 ✭✭✭✭✭
edited January 22, 2021 6:11AM in Precious Metals

2021 economic forecast from a guy who knows his stuff.

"On a positive note, the destruction of unbacked currencies must occur before national economies can return to free markets and maximise the progress of the human condition. It requires a form of money that is both sound and flexible — but not under the control of the state. The debasement of currency at the expense of its people as has always been the result of the state gaining control of money and setting its terms."

I guess the Magic Money Tree will help us get there quicker.

The decline from democracy to tyranny is both a natural and inevitable one.

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Very interesting article.... Thanks for the link. Cheers, RickO

  • derrybderryb Posts: 36,025 ✭✭✭✭✭
    edited January 23, 2021 5:41AM

    In March 2020, The FED remove all reserve requirements for banks.

    Reserve requirements are emergency funds to help a bank meet its liability to its account holders in the event of a banking crisis. Unfortunately this account holder insurance policy is also a one of many tools the FED uses to control the money supply. I guess they find themselves not printing fast enough and are throwing everything they can at stripping that Magic Money Tree.

    The decline from democracy to tyranny is both a natural and inevitable one.

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