5 Things to End The Dollar As We Know It.

5 Things to End The Dollar As We Know It.


America is in full-blown depression, total economic collapse here. We're facing an unprecedented crisis. We are going to pay a heavy price, not for the disease, but for the government’s financial and economical cure. There is falling confidence in the US. The US Dollar is based purely on confidence. Money can be printed. Wealth cannot. The dollar today is nothing more than "fancy electronic bits. Even toilet paper is worth buying in the tsunami of confetti that the FED is unleashing. Events happen at a much quicker pace than they did in the 19th century. The US Dollar will certainly decline faster than the British Pound. Funny how "sterling" is still used in reference to British fiat currency. It should never be used in that context anymore. The correct term is only "British pound." Until 1920 British coinage was truly sterling, 92.5 percent silver. Then through 1946, British coinage was debased to 50 percent silver. From 1947 on, there is no silver content in British coins. British gold coins had a fineness of 91,666 percent gold. Every empire reaches a high point and then begins to decline. We are experiencing that decline, and it behooves us to create a soft landing for ourselves, rather than try to fight the inevitable. He who does not learn from history will suffer the consequences of that ignorance. Those who make loud noises about resurgent American exceptionalism, remind me of middle-aged men, trying to court young women. That day has come and gone, and the noises they make, only sound foolish. It is axiomatic that the US dollar's hegemonic status derives directly from the geopolitical hegemony of the United States itself. Since the latter has been in decline for several decades, it's only to be expected that the former will follow. Another 2.4 million Americans filed for first-time benefits last week, bringing the total to 38.6 million since mid-March, the Department of Labor reports. First-time claims have declined for seven straight weeks, but joblessness remains a crisis in the US. Across the country, families are lining up at food pantries because they cannot afford to buy their own food. The lines stretch down city blocks and extend for miles down country roads. Food banks across the country are overwhelmed by the growing need. If we don't guarantee even the most menial of workers a living wage, then we're not a free society, we've only changed the mechanics of slavery. This is neo-feudalism. It is the global power play to control us all. The giant GOP tax cut for billionaire donors and corporations didn't do the middle class, a bit of good. And it ballooned the deficit and debt to unsustainable proportions. The dollar will drop as The Fed monetizes the outrageous deficits. The collapse is the new normal, but now the apocalypse is coming. Brace for mass bankruptcies, foreclosures, and repoes towards the end of this year. I see more and more empty commercial space every weekend when I go for a cruise around town to see the carnage. A lot of businesses are hemorrhaging cash and holding out and hoping things return to normal in a few months, and when that doesn't happen, we're going to see all hell break loose. When the overall economy catches a cold, the state and local governments develop pneumonia. State and local governments obviously have been hard hit by the COVID-19 economic crisis. If investors take the loss, then no one will lend them money anymore. Bureaucrats and pensioners will have to have the hair cut. We have to give investors money, or bureaucrats will suffer. If it's good enough for the millions of Americans put there because of health care costs, why should investors be exempt from bankruptcy! Why should the people and taxpayers of America be bailing out poorly run states (like Illinois, for example) and cities. California alone has over a trillion dollars of the over five trillion dollars in unfunded pension liabilities. Bankruptcy is a fair way to distribute the pain fairly. Let them go bankrupt. NO state in the union laid off that many "excess employees." Yes, we need police and emergency protection. Everybody else could have been laid off. The global economy is in deep trouble. It's impossible to prevent a collapse when the Fed is creating dollars like Weimar Germany produced marks. Other countries are hyperinflating too, so we might be able to keep foreign trade going in dollars, but we're doomed to have double-digit monthly inflation. As soon as the FED's fake money printing (backed by nothing) overwhelms the Treasuries real money (backed by taxation), it is game over. Notice companies that have huge "cash" positions park them in real money, not fake money! The collapse of the dollar could be caused by a number of different things. 1) Oil prices crashing, 2) China losing faith in the dollar, 3) Gold and Silver, 4) the Fed caused Inflation , and finally 5) Cryptocurrency . The oil price crash means that the petro-dollar system is dead. The dollar would also collapse if China announced they were no longer accepting dollars as payment for goods. Finally, One real and potential threat to the dollar as the world's reserve currency is from gold and silver. If a lot more people and institutions suddenly started converting fiat dollars into physical gold and silver,the sentiment toward the dollar might change 180 degrees very quickly. The dollar would die once the gold and silver prices can no longer be controlled. Gold and silver prices will go up exponentially, and foreigners won't want to hold the dollar anymore. Due to the ongoing EPIC money printing and debt, the gold bull run has already begun. Gold had climbed 400 dollars an ounce since June last year. Otherwise, Inflation will kill the dollar. We could see double-digit monthly inflation as the dollar dies. The Federal Reserve Note is backed by the full faith and credit of the US government. Faith in the US government is dwindling worldwide. Thus the faith in the US Dollar is also in limbo. Yes, there's a flight to "safety," but what if that "safety" shows itself to not be safe! Oil is already traded in other currencies. Other goods can easily follow suit. The dollar is the reserve currency of the fiat system, thus has the so-called 'hegemony.' Swift is a mechanism by which that hegemony is maintained. The fiat banking system is based on confidence. The dollar is a fiat currency and can be replaced by the bankers. Swift is being subverted by alliances being formed in the absence of competent US leadership. Swift is already losing its power to maintain hegemony. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, only the truth, and nothing but the truth. In New York City, 2 Million Residents Face Food Insecurity, Officials Say. That means roughly one in four New Yorkers face food insecurity. Meanwhile, the Fed is now considering another massive capital injection into the major banks. The bigger the bubble, the bigger the boom. The banks get bailed out while the people get contact traced. Yet the Worst is Yet to Come, with Contact Tracing, Immunity Cards, and Mass Testing. Corporations are getting paid by taxpayers without even supplying any goods. And the main corporations being bailed out produce nothing. They are financial institutions that just manipulate money. Now, if they want to put $10,000 into my bank account, I won't complain because that is what I would have gotten if the Congress has split that $4 trillion amongst the American people instead of their International financial overlords. Most of the world is already moving away from Dollars anyway due to US sanctions and general bullying. When the rest of the countries wake up and realize that by buying US Treasuries, all they are doing is allowing the US to continue to live wildly beyond its means at their expense, then the only one buying US dollar-denominated debt will be the Fed. This is mostly happening now. How long can the US federal reserve continue to keep the house of cards in a tornado together? Only as long as the confidence remains in the US Dollar. That confidence is being eroded away with each passing day until the giant escarpment that is the US Dollar falls off the cliff. It will happen; it's only a matter of time. Reserves and Investment flows would rapidly adjust, and large quantities of Dollars would start flowing back to the US to add to inflationary pressures. China has 2 trillion dollars and 1 trillion treasuries, pretty sure rightfully they knew and worry those Dollars will massively shrink in purchasing power value when the FED QE again expands its balance sheet. China is the world factory and especially proven in this COVID crisis. They can start a COVID medical PPE Silk Road RMB Yuan, demanding other nations want to buy their product either pay to buy in RMB Yuan or trade barter in real valuable goods or use gold as a trade medium. No more accepting Dollar IOU's. What's the point of keeping Dollars when the available trade of purchasing of goods is much diminished. Especially now, the petro Dollar is getting a massive hit oversupply limited demand, as demonstrated by the $-37 a barrel. Once every nation sees the uselessness of the Dollar, a domino network effect will start and dump the Dollar. Every nation is already developing its own kind of Bitcoin currency. For example, China's digital currency electronic payment yuan RMB. Trade wars, currency wars, then world wars! The collapse of the dollar could be caused by a number of different things. The oil price crash means that the petro-dollar system is dead. I think the dollar will die once the gold and silver prices can no longer be controlled. Gold and silver prices will go up exponentially, and foreigners won't want to hold the dollar anymore. The dollar would collapse as soon as China announces they were no longer accepting dollars as payment for goods. Otherwise, we could see double-digit monthly inflation as the dollar dies. The value of the dollar (measured in real goods) has constantly been falling since 1913. Yes, sometimes faster than others, but always falling. To measure one fiat currency against others is FUNDAMENTALLY BOGUS. The reason is obvious. That gives the impression something is increasing (value of the dollar) when, in fact, that something is decreasing (value of the dollar). Gold is for saving. Fiat currencies are for buying. Gresham's Law applies. The "game" is keeping the dollar as the premiere and indispensable world currency. The currency is their tool and weapon. They will utilize it UNTIL IT IS DESTROYED AND ZERO UTILITY LEFT. Not sure how anybody could see them as doing anything else. They are on the bad end of enjoying their great weapon, and they will not control the next one however, they try. You can't violate Say's Law with impunity. Creating purchasing power by any means OTHER than production simply increases the amount of money chasing whatever is in the marketplace. It doesn't add to what is available for purchase. Taken to the extreme, you have the situation in the USSR where people had rubles, but the shelves were bare. This is what flooding a nation with credit-created-from-nowhere produces. Under FIAT money, money was debt, so debt was wealth. People forgot that an IOU is nothing until it's paid-back. We now have a world drowning in "wealth" that is nothing but IOU's that depends on all other IOU's performing, when mathematically we long ago passed the point where this was true. All that "wealth" is an illusion. So is training people to forget that it's not about money-in-hand, it's about the product available for purchase. If "full faith" and confidence of the U.S. dollar - or any other fiat currency in the world for that matter - does collapse, what's left to serve as "money?" How would governments fund their operations - and all their payoffs to their crony partners - without these magic FIAT printing presses? Answer: They could not. Take-away: They HAVE to do everything they can to deter the masses from once again viewing gold and silver as the ultimate "safe haven" assets. And this they have done and will continue to do. "When plunder becomes a way of life, men create for themselves a legal system that authorizes it and a moral code that glorifies it." "When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." - Frederic Bastiat. Something bigger is coming down the pike. This was just a dry run. I don't know what it is, but I can feel it in the air. Some Draconian laws in the United States are going to take place soon. Gates said in an interview he calls this Pandemic 1, and the next one will be called Pandemic 2. So there is something much bigger in the pipeline probably coming this winter season. All the social distance and mask-wearing are about training you to be a good little sheep. This is not going to end well. The politicians are taking us 90 miles an hour down a dead end. The road to hell is paved with central banks. 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Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.