ECONOMIC Avalanche Talk Show–is about a Talk Show. It features Average Middle-Class Worker Folks versus Greedy Super-Richie Guy. Both give their opinions on lots of topics such as: The USA”S current financial problems, the deficit, China’s Power, Central Banks, The Fed, treasury Bonds, Crypto-Currencies, etc.
–The Talk Show moves fast and is funny at times—especially when Greedy Super-Richie Guy gives his opinions.
–The Reader can learn a lot and get a few chuckles in the process.
Talk Show Host: What are your thoughts on America and it’s ECONOMIC State?
Average Middle-Class Worker Folks:
Most people and companies thought due to the Covid-19 Flu Epidemic Lock-Down: There was going to be a short temporary bad Economic times in the USA. Maybe 2-3 months max.
A V-Shaped Economy where the USA goes down economically in a Graph, but then shoots back up quickly economically where it was before. Nowadays, the Stock Market is staying bullish, but many of the middle class, and lower income people are in a recession or depression.
The cruise ship titanic like economy–will keep the party going. The Federal Reserve stimulus policies, credit cards, and easy low interest bank loans pays for everything. The Federal Reserve is kinda like Santa Claus giving Banks lots of new currency with no interest loans, and/or printing up money digitally and giving it to them.
Unemployment Claims were over a million a week for over 20 weeks. During the Pandemic Lock-Down over 50 million people applied for unemployment benefits. There are many jobs available that some people receiving unemployment benefits don’t want because of they make almost as much getting benefits, and not working.
One of the main reasons for the USA’S Financial Mess is that: 70% of the Economy is driven by Consumer Spending. By contrast a Powerful Strong Sound Economy–has mostly a Manufacturing Base that has thriving in demand Exports for all it’s goods. Greedy corporations and companies out-sourced America’s manufacturing to mostly China over the last 30 years. And there is No Way to get those tens of millions of Manufacturing Jobs back.
Most countries Central Banks (such as European Central Bank, Bank of England) are printing up too much of their own currencies. But the USA prints boatloads more amounts of Money or Currency with–Nothing but Debt Backing behind it. It is diluting it’s currency at a faster rate than ever before. It is almost like America is just Asking to be Destroyed Economically by massive Inflation–and losing it’s status as the World’s Reserve Currency.
America represents itself to the world as–selfish, arrogant, a braggart, and a Bully threatening Economical Hurt–through Sanctions to any country that opposes it.
The USA makes the whole world pay for it’s Credit, Loans, and Debt lavish lifestyle,
that keeps it cruising along instead of going bankrupt and crashing. If it wasn’t for it being–the World’s Reserve Currency.
IF the Dollar Collapses and is Replaced as the World’s Reserve Currency the following are what can happen next:
There is global economical turmoil and confusion. Fearful investors rush to other currencies such as the Euro, gold, silver, and other commodities.
There would be No demand for USA Treasuries and they would plummet.
Interest Rates would rise and keep rising.
Import Prices would skyrocket.
There would be out of control Massive Inflation.
To counter the great Panic in America I believe the USA will put into law a new Govt. Digital Debit Card Currency to be used in all transactions instead of currencies in any other form. It will be like a crypto-currency having a Ledger–that keeps track of every transaction but it will be–completely controlled by the Govt. The government may Outlaw all other kinds of monetary transactions, cash, credit and debit cards, checks, crypto-currencies, silver, gold, etc. Sadly, the government or ‘Big Brother’ in time may control everyone’s spending.
Having a new Govt. Digital Debit Card Currency–They will know every deposit and withdrawal any company or person makes. No longer will there be possible any under the table cash transactions, no more cheating on Taxes or anyone hiding Income or doing off the books stuff. No illegal drug trades can be done because all transactions are clearly recorded and monitored. There will no fears of handling currencies physically and maybe getting a Covid-19 transfer. No one can rob someone else because of their having cash, gold or silver coins on their person or nearby. Putting into law this new Govt. Digital Debit Card Currency will calm the people down as they gladly submit to this new Economic Normal in the midst of financial chaos and turmoil everywhere.
Basically, overall the USA lives beyond it’s means–and doesn’t save much money. It consumes merchandise and things it didn’t produce. Whereas most of the Rest of the World doesn’t live lavishly and saves money. And they produce most of the world’s merchandise but don’t consume much of it. A rap star would say “The world is America’s Bitch.”
The USA has never had these current Major Economical problems all at once in the modern era. There is lots of Fear and Uncertainty. For so many people the sleepless nights come from the Worry and Paranoia of not knowing all the Perils and Horrors coming on the horizon.
It is like an Economic Earthquake with Tremors from time to time and you knowthe Big Devastating Tremors are still yet to come. An Economic Collapse gives way to an–Authoritarian Govt., police state, marshal law, and great losses of Freedom. During the Covid-19 Lockdown with all the mask rules, and nowadays current vaccinations requirements for traveling, and being in public places, etc.,–most people are used to herd mentality Obeying. So, in the near future most people will obey any laws enacted like good lemmings.
The USA originally was built on honest economical principles of Money. The Constitutional Way Business was supposed to be done was No–Federal Reserve, Central Banks, or Income Taxes. Instead–The Business Commerce Market dictates for itself –with supply and demand.
If a company fails it isn’t bailed out but instead goes out of business, or restructures, or another company takes over their market with a better company and products etc. All debts, loans, and commerce must be paid in silver and gold and you can’t print up money (but later on as America grew so prosperous–paper money had to be used but Only If it was Backed Up and redeemable–by silver or gold coins).
Nowadays most of the Economy is Debt, Credit, Loans, and dishonest Govt. and Banking practices.
God says to America “I made you the Head of all Nations–you Lent to others and did not borrow, but because you don’t want me around anymore in your Business Affairs and Work Environment you are the Tail–you will Borrow and not lend to others” Deuteronomy 28:13.
The USA up to the 1970’s was the Head–and the World’s Largest Creditor Nation Loaner.
The USA from the 2000’s to the Present is the Tail–and the World’s Largest Borrower-Debtor Nation.
Greedy Super-Richie Guy: I have a PhD in Economics & International Banking and you Average Middle-Class Worker Folks–just blab off about things, like you know what you are talking about. You are an Ignoramus! If you’re lucky I’ll let you kiss my big butt like all our clients and employees do. We’re in a V-Shaped recovery and me and all my super-rich friends and associates are still making the big bucks as usual.
The Govt. and the Federal Reserve are our Saviors and not that God and the Bible nonsense. I and all my friends are Atheists and there is no God.
Not many people who want to work are unemployed, and everybody is going back to work. We don’t need anymore Manufacturing Jobs because China makes its people do the cheap slave labor.
The USA will always be the World’s Reserve Currency and any country that opposes that will be attacked militarily and wiped off the map.
Evolution is not a theory we all came from apes–but us Greedy Super-Richie Guys have evolved into smart cunning predators who are superior over our less intelligent gullible customers and employees. You can’t blame us for making the easy big profits over the dumb subservient to us–Governments, and peoples of the world. It’s true most governments and peoples-are our Bitches!
It’s survival of the fittest and we are the masters and you and your kind–are our–indebted for life peasants. It’s your own stupid faults–you trusted us. Ha, Ha, Losers.
Myself, and all my fellow 1% Financially Super-Rich friends can’t be blamed for owning governments and peoples who let us rule over them monetarily by getting credit and loans from us. Like you said and even your fake God “Us Lenders are the Head and Master and you and any Govt. are the Borrowers and thus the Slaves and the Tail.” We Rule the USA and you Average Middle-Class Worker Folks and all the working peasants must do what we your Masters tell you to. I can’t stop laughing my ass off at you saying ‘America will go under Financially’, such a pipe dream of people jealous of us. As long as us super-rich superior intelligent people are in control your best bet is to say you are really sorry and brown-nose us like everybody else does. Ha, Ha!
Average Middle-Class Worker Folks:
The Inflation that comes from America’s Deficit Spending and Printing massive amounts of new Dollars is like a parasite Cancer or Evil on everybody’s money. Right now, over 50% of every dollar spent is—Printed Up!
According to a recent Rand Corp (Think Tank) Article in Time Magazine online:
It says–$50 Trillion dollars has been taken from the bottom 99% of households to the top 1% of households in America over the last 45 years. This comes out to taking $300,000 from every household in the USA.
No outside forces did it. It was a result of–Trickle Down Economic Policies Americans chose since 1975. No one stopped the Political Leaders who put the Material Interest of the rich and powerful above the American people.
The $50 trillion Bounty mostly went to wall street, big hedge funds, banks, and the top 1% wealthy people. Millionaires and Billionaires on wall street getting rich off the Fed -overpaying for bonds of companies.
If Equitable Income Distribution of the years 1945-1974—held steady or the same–then aggregate annual income was 2.5 trillion more or higher for the top richest 1% in 2020 than for the bottom 99% of wage earners. This over the years (1975-2020) works out to taking about $1,100 every month every year from the bottom 99% of every wage earner in America.
Policies and Monies from the government are supposed to help out and trickle down good to the bottom 99% of wage earners but instead it seems like they are sucked or vacuumed upstairs to the 1% instead. It seems like a Rigged System, and the financial super rich elites better hope the ignorant gullible working class never finds out how they have been financially screwed over all these years.
Lobbyists and Donors are controlling most Politicians. Most Politicians are Puppets while in office–voting for whatever the lobbyists and their big donors want done. They slyly take no bribes while in office: But when leaving office they get cushy easy high paying jobs and/or do speeches for big bucks.
The USA has over 900 military bases in 300 countries to intimidate peoples and governments to keep the World’s Dollar Hegemony intact or else suffer the consequences like Libya, Iran, Russia, Venezuela, etc. have with painful Economic Sanctions.
If the USA continues on it’s same Economic Agenda. In 2 to 3 years the USA Dollar Hegemony of the World may be done away with–and as a direct result the entire USA house of Economic Cards (Banking, Loaning, Excessive Money Printing, and Credit Institutions) will go bust or belly-up. If the world goes on the Gold Standard for all currencies–the USA economically will crash and it’s dollars and/or currency will super-inflate and eventually become worthless.
Greedy Super-Richie Guy: I like Deficits because it means we Richies got the Govt. and the people by the financial balls for life. Ha, Ha. I want more Inflation because it raises the worth on all the assets we give loans on. I don’t give a rat’s pituitary gland about the middle-class and lower income peasants.
We gladly took the $50 trillion windfall bounty that we deserved. Understand this: We are the Financial Sharks and you and your kind are the middle-class and low-income tasty Shrimps to be consumed. We haven’t done anything wrong to the masses by stealing their money. It’s all perfectly legal. If you want to whine to someone then blame the Govt. for making the policies for our benefit and jerking around the gullible, wimpy, stupid citizenry.
Of course it’s a rigged system. So what–it’s always been like that. We get the millions, billions, and trillions of dollars, and you lucky ducks get the trickle-down dollars that we are so generous to give you.
We control the USA’S Money Supply so if we tell the Govt. to impose crippling economic sanctions on rebellious countries they do it right away. And if they fail to obey our every command then off with their heads. Ha, Ha. Let this be a lesson to every country and person, “Shut up, and assume the position–doing whatever we tell you or else suffer the consequences!”
I really get off on big Deficits and big Loans. The borrowers are our financial slaves for life. And these Financial Slaves all begat more financial slaves. That’s utter rubbish to even think any of the Politicians we have in our Back Pockets–doing our agenda are greedy or tell lies. All our Lobbyists and the Politicians that push our agendas are completely honest. And wouldn’t even think of taking a bribe, or receive easy big money after leaving office.
Don’t any Govt. mess with us–or we’ll get the USA to kick your butt with Sanctions economically, or beat you down with some ground and pound military action!
Talk Show Host: Is CHINA an Economic Threat to the USA?
Average Middle-Class Worker Folks:
The following are Facts about China and any threats to the USA:
The USA gets about 80% of it’s Exports from China. Thus China has the USA dependent on them for getting most of their merchandise to sell. They have a stranglehold.
China has lots of consumer spending, and lots of Exporting from being the World’s Super-Manufacturing Juggernaut.
China is angry about the USA interfering on their South China Seas Military Bases because China wants to control the Trade Waterways where 3 Trillion worth of goods pass through annually.
China considers nearby Taiwan it’s territory or vassal state just like the USA considers Puerto Rico the same way. Lately, via strong rhetoric by Taiwan, China, and the USA–the area is heating up for possible military confrontation. China has been sending out more ships and jets in the Taiwan area and also throughout the South China Seas.
The Chinese are furious for being blamed for the Covid-19 Pandemic by America. A mocking sarcastic high ranking China spokesman said “The USA should look in the mirror and see if it still looks like a major country today.”
Former Attorney General William Barr at a July 2020 speech about China said:
“China has launched a “Economic Blitzkrieg to topple the USA.” “This Threat is the most important development of the century!”
“It has been planned for years and is orchestrated and aggressive to seize the commanding heights of the global economy.” “And to pass the USA as the worlds preeminent super power.”
“China wants to raid the USA, and control the Trade Waterways.”
“China wants to monopolize Rare Earth Minerals–that are used widely for consumer electronics, electric vehicles, medical devices, and military hardware.” “70% of the worlds supply they have, thus 700 billion people are dependent on China to get them.”
“China produces most of the USA’s medical devices and has the most ingredients used for making pharmaceutical drugs.”
All of these comments from William Barr’s speech:–Went over like a lead balloon to the major media outlets and most Americans–They could care less and don’t believe it’s true.
China’s largest Import is Microchips which they buy over $250 billion dollars of annually. The US restricts sales of Semi-Conductors to China’s Huawei to slow down their 5-G progress.
China right now can’t make all their own semi-conductors that are up to date–for a Platform for–Phones, 5-G technology, and their new Digital Yuan currency.
They may temporarily have to use out of date older Semi-Conductors when their current supply runs out. China is mad about this low blow to their technology as it holds them back a little.
China never apologizes for any wrongs that they do. Instead China fires back at accusers
and finds fault with them. And punishes them with tariffs and/or not selling them a product that they really need.
Nobody can bully or threaten China anymore militarily. They won’t back down
because they have lots of modern long and short range nuclear missiles. And the USSR is their ally in a war. The USA cannot fight both China and Russia in any war.
China has been hoarding Gold for decades to back up their different Yuan currencies. So that before and when the dollar collapses their Digital Yuan, Gold Yuan, and Petro Yuan are ready and–able to be used worldwide in a big way for trading deals, etc.
China and Japan have struck a deal to use their own currencies more in trade than the dollar. BRICS (Brazil, Russia, India, China, South Africa) are doing more trades in their own currencies with each other. China and the United Arab Emirates are using their own currencies for Oil purchases between them.
If Saudi Arabia and China do Oil purchases without using dollars the reign of the Petro-Dollar will come to an end much sooner. And be a main factor in causing the Dollar to be replaced as the World’s Reserve Currency. China would like it’s Renminbi (or Yuan) to be the World’s new Reserve Currency.
China recently announced it is considering selling it’s US Treasury holdings down to $800 Billion as their new normal. The USA helping out Hong Kong and Taiwan is angering China more and more. If the USA keeps pushing China’s buttons–they may start selling all or a most of their Treasury Bonds from the USA and–flood America with more dollars–and cause faster higher Inflation. Some refer to this action as ‘China’s Nuclear Economic Option’.
If that should occur–Other countries could then become Fearful of their USA Treasury Bonds losing much, or all their value eventually. Thus, as a result, these countries would liquidate their Treasuries. These actions could quickly cause the Dollar’s Collapse and it would cease to be the World’s Reserve Currency.
Greedy Super-Richie Guy: The U.S. is the World’s most powerful economy, the richest nation, and strongest military power. China, Russia, and all the world are jealous of America, so I say to them, “Eat your hearts out!” Ha, Ha.
All the Giant merchandising store accounts in America such as Walmart and Target, and Amazon Online–love getting cheap goods from China, and make big bucks off of them selling to the gullible stupid–pay too much for everything consumers.
We could care less how hard the manufacturing conditions, and long hours are for the Chinese working slaves of ours. It’s all about being king of the hill, and raking in mega bucks for banking and corporate profits.
China better soon shut up and submit to us in all our demands in the South China Seas, or else the USA will kick their butt, and Russia’s also.
The American hegemony dollar will never collapse. It will trounce the new digital Chinese Yuan or any other currencies. The dollar is the world’s strongest superior currency. End of story.
Talk Show Host: What is the Outlook for Jobs & Businesses in the USA?
Average Middle-Class Worker Folks:
Most Low Income People–are just existing and surviving. Low-Income folks everyday try to stay afloat. They try to figure out who to pay and who not to pay. They Worry constantly about either getting a job; having less working hours; getting laid off; making rent, food, and car payments, feeding kids, getting sick; and as a result many have Sleepless Nights.
Sadly, many are taking more medications than ever before to try and cope. There is a substantial increase of Adults that are dealing with Mental/Behavioral Health issues–mostly, anxiety and depression. 13% of Adults reported starting or increasing Self-Medicating by drugs and/or alcohol to cope with stress or anxiety related to the pandemic.
About 40% of households spent 35% of their income on Rent and utilities. And 25% of households spent about 50% or more of their income on Housing. If people get Evicted. It is hard for them to get housing again. They are blacklisted by landlords. In the 1950’s–People paid 10% or less of their Incomes for Rent. A mechanic or construction worker could save up enough money to buy a house almost anywhere in the USA and pay off the mortgage on time or earlier.
One major problem for millions of Americans is that there has been hardly any–Low-Income Housing since the 1990’s.
Over 20 million Americans are facing a possible eviction crisis. Over 45 million Americans are Renters and most are one or two missed payments from being evicted. 60% of Landlords surveyed said that their tenants were unable to pay rent because of the pandemic.
Getting a decent place to lease for Rent is a–hardship to Move In Dilemma: A person(s) needs a good steady job, good credit score, First and last months rent, and a security deposit. So, if a Rental is $1200 a month a person(s) may need around $3,600 to move in.
The Stimulus Packages result in the wealthy getting most of it eventually. If the Stimulus and Federal Quantitative Easing were a Banquet: The top 20% Income Brackets get the main course and desserts etc. And the lower income and middle class get the crumbs.
Many Business Owners are taking out loans on their assets and maxing out their credit cards, and may soon go off the Bankruptcy Cliff.
Most people are not spending quite as much as they used to. And are now Saving more than usual which is good for them personally but bad for the Consumer-Spending Dependent Upon Economy. Many consumers nowadays are too concerned and Fearful to resume their usual drunken-sailor-like Credit-Spending habits, and not worrying about paying it back.
Mortgages are taking a hit (residential and commercial). There are lots of Forbearance (the delay in paying mortgages on time). Now it’s Forbearance but down the road–it’s lots of Foreclosures.
The Government is bailing out Zombie Companies and like a Drunken Gambler-
–”It keeps throwing good money after bad money.”
A well known Chase Bank CEO said recently in an interview on the Economy: “Were in the midst of the largest Financial Fiscal Experiment ever seen in the World and it is Uncharted Territory,” “Nowadays the fate of the Economy is like looking down a dark well and not knowing how far down it will go.”
There is a–Massive Wealth Gap: 10% of the wealthiest people own about 80% of the Stock Market. 10% of the wealthiest people own about 90% of all Assets.
It seems like the USA is–mostly a Nation of Greed: Whether at the stock market, or at the grocery store where people buy for hoarding foods. People under entitlements or welfare can be just as greedy as the very rich. Many homeless people are greedy over getting free foods and meals, and many don’t even say thank-you for the free stuff people give them–but they want more.
I once helped out at a church in San Diego, CA feeding the Homeless pizza on Wednesday nights. Once the pizza boxes arrived there was a rush to grab the slices of pizza and I never saw such a lustful eating frenzy. People would almost choke trying to wolf a pizza slice down while they were greedily holding 1-2 other slices in another hand. Within about 10-15 minutes the 6 boxes of large pizzas was devoured by the piranha like greedy gluttons. What also amazed me was only maybe two or three people said thank-you for the free pizza, sodas, and water bottles.
Greedy Super-Richie Guy: Low-Income people need to just relax and thank their lucky stars for us Richie-Riches because we are never greedy for profits, And we do all our policies to try and help out the middle class and low-income folks. So, they need to quit complaining and realize that they got themselves into their predicament because of being so stupid by spending too much on credit cards, taking out unnecessary loans, and not saving much money, and gold/silver for a rainy day.
They need to grow up, be responsible, and get off the drugs and alcohol. We don’t get the bulk of any Quantitative Easing/Stimulus Packages. That’s bunk.
If any business closes down–there is a Silver Lining–The owners and employees can get jobs at McDonald’s or other fast food places that are thriving, and that pay real good with lots of perks.
My advice to everybody is be a fool and borrow too much, and spend lots more money, and max your credit cards out. This will help the economy right now to do better, and of course make us Richies more insane profits. Ha, Ha.
That crazy Chase Bank CEO you quoted is ludicrous. I would push his butt down that well he talked about. He obviously is just a paranoid mental case. He doesn’t have a clue what he is saying. He’s probably on drugs or something.
The only reason us 10% richest people own most of the US is because we are the most blessed, gifted, and smartest people. We deserve our wealth. You uneducated stupid gullible peasants deserve what you have.
Your Pizza Story shows how the homeless and low-income people are really the greedy people and that’s why they are at the bottom of the food chain. Well, your Pizza Story makes my corpulent body want to get chauffeured in either my Rolls Royce or Bentley and go to Luigi’s Pizza in Beverly Hills.
Average Middle-Class Worker Folks:
When America formed the Original Constitution it said there will be No Central Bank, and No Income Taxes.
During the Industrial Revolution around 1913–the Federal Reserve (Central Bank) was formed to be in charge of fixing interest rates and printing new money or currency. The Reasoning for creating it even though the Constitution forbid a Central Bank was: We can’t have different presidents or politicians fixing interest rates or printing new currency for their own benefits and party affiliations. Also, the Federal Reserve promised to prevent recessions or depressions. However, it didn’t stop the1929 Depression from occurring.
After WW2 the USA owned 2/3 of the world’s Gold and was the world’s most stable currency.In 1945 at a place called Bretton Woods the world’s major nations got together and created a new Universal Monetary System. The American Currency backed
by Gold–became the World’s Universal Currency. As a result–all the worlds currencies were tied to the gold backed dollar. And Gold sold for $35 an ounce.
The U.S. lost 50% of its Gold from 1959-1971. The US had 12 times more dollars printed during this period. There was Not enough gold to back up the dollars in circulation. So, the USA even back then–was Not showing Honesty and Integrity for such a privileged responsibility to the world.
President Nixon had to take the U.S. off the Gold Standard (temporarily it was supposed to be) or the entire world currencies would all collapse since they were tied to the dollar.
On August 15th 1971–All the World’s Currencies became Fiat Currencies (having nothing backing them except Faith in them). After the Gold Standard was done away with–The Floating Currency Exchange–came into existence. The world’s currencies values would no longer be fixed by a gold standard–but determined by market forces instead. Thus, all Currencies–are Floating Currencies.
Nowadays, the Dollar’s Worth is judged everyday by how much investors want it compared to wanting instead–the Canadian Dollar, Swiss Franc, Swedish Krona, British Pound, or the Euro. The Dollar then has an Index Rating or Dollar Index. If the Dollar Index is above 100 it is considered a strengthening dollar. If it is below 100 it is considered a weakening dollar. The lowest rating recently was 70 in 2008, The highest recently was 165 in 1985. Nowadays, it’s around 94.
After America went off the Gold Standard in 1973–prices on everything went up and up, and Rampant Inflation was out of control.
During the Ronald Reagan Presidency the Fed Chairman Paul Volcker amid double-digit Inflation spearheaded aggressive Interest Rates Increases. He and Reagan were bashed by politicians, the media, and most of the public as crazy–and are going to plunge the U.S. into a depression. For a while the economy got worse but then gradually it began to get better and better. And an era of staple inflation became the norm.
President Bill Clinton was the last administration to leave office and have a 1 Trillion Budget Surplus. Hard to believe nowadays but it is true. George W. Bush became president and got the U.S. into 2 wars and was known–to sign any and every Spending Bill that came on his desk. He also slashed corporate taxes and capital gains taxes. After he left office his administration and the (congress and senate) left a $10 Trillion National Debt.
The Democratic Obama Presidency with a Republican Senate and House left another $10 trillion deficit to make it a $20 Trillion National Debt before President Trump took office. Nowadays, the USA National Deficit is–around $28 Trillion or more.
There have been over a 1,000 Fiat Currencies throughout history and–Not one of them has survived. All Hyper-Inflated and then–people and banks lost Confidence in their value and got rid of them–and went to another currency.
Any Currency is only as Good –as people have Confidence in it. When Investors feel much less confident in the Dollar they will ditch it quickly and seek out a solid currency backed by Gold, and/or buy Gold or Silver coins, metals, or stocks.
The Dollar has lost 90% of it’s value since 1950. But it’s still the same dollar only Hyper-Inflated. The cause is because as way too many printed up additional dollars flood the economy–this Fiat paper currency loses its value.
Over half of all the dollars printed up in circulation–are outside America. About 1.8 Trillion dollars now in circulation around the world are outside of the USA. About 2/3 of all $100 bills–and–1/2 of all $50 dollar bills.
Greedy Super-Richie Guy: The best thing to happen to America is the creation of the Federal Reserve Central Bank. The constitution is outdated. It applied only to primitive Colonial Times.
It’s much better now with the added Amendments of a Central Bank and an Income Tax where the Govt. takes more percentage of Income from the middle-class than us Richie-Riches Guys who rule over you ignorant gullible financial slaves of ours. I can’t believe how you Suckers let us and the Govt. get away with it. Ha!, Ha!
President Nixon’s best decision in office was getting rid of the Gold Standard, and as a direct result nowadays we Super-Richies and Federal Reserve are your Gold Standard. You let us do it–so too bad poor babies, go cry a river and feel sorry for yourself.
We are the greatest nation, and most powerful and it’s mostly because of us compassionate financial economic saviors of the U.S. and the planet.
Average Middle-Class Worker Folks:
The Following are a lot of different things that impact the Economic World:
One of the most difficult things that 90% or more of all peoples don’t understand or can’t figure out (and the Government, Federal Reserve, Treasury, and Central Banks hope they never do) is–How Do Treasury Bonds come into Existence?
To make it very brief and as easy to understand here basically are how Treasury Bonds are Created–The Government after approval from (the senate and house of representatives) on the amount of Treasury Bonds to be issued.
—For example let’s say $100 Billion dollars is approved:
—Then the government creates the $100 billion worth of Treasury Bonds (In reality IOU’S) and gives them to the Treasury.
–The Treasury then issues out the Bonds to America’s Central Banks who buy the Bonds–with Currency.
–Then the Federal Reserve buys the Bonds from the Central Banks (who make a profit on them).
–The Fed buys the Treasury Bonds with government issued checks (with nothing backing them up).
–Central Banks enter the checks amounts into their systems Digitally. Then they give Loans to other banks that are Deposited in their systems Digitally.
–So, right then–all the Currency is Digital Numbers–punched in.
–When all the thousands of banks in America do any Loaning of Money from the Digital Currency they received: This is when–New Currency is created out of nothing– –into all kinds of commerce and transactions.
The Treasury and Federal Reserve are swapping IOU’S and using the Banks as middle men. Thus, the end result is a build up of Currency at the Treasury–and a build up of Treasury Bonds at the Fed. It’s like a sleight of hand-slickly done process to create New currency or dollars–out of thin air so to speak.
Banks borrow at 0% and and charge 3% or more. What the Fed and Central Bank does through QE etc. is called ‘Creative Banking’: But all crooks of high finance know it as–“Cooking the Books”.
SWIFT is a gigantic Worldwide Exchange that does Wire Transfers of one person’s account of their currency to–give a person payment in their own different currency, or in dollars. When doing or threatening Sanctions the USA uses the SWIFT Exchange to punish anyone they Don’t like by denying their access to using it. Iran decided to sell oil in Euros and got banned from Swift. Iraq tried to not sell oil in petrodollars and the USA destroyed the country.
Nowadays–No one is buying new USA Treasuries or bonds so the USA buys and puts them on its balance sheet/ledger. And the chances of that Debt over $7 Trillion being paid back is slim and none.
Greedy Super-Richie Guy: The Fed doesn’t print money out of nothing backing it up. You airhead–Deficits and trillion dollar stimulus from the Fed are fantastic for the economy. There will be no massive inflation coming, just maybe gas, bread, and milk costs a few pennies more. No big deal. May the USA always use the Swift Exchange to punish anyone who dares not do what they command. America kicks butt with the military, and I kick butt making money, getting bling, and doing my greedy thing.
Talk Show Host: What are Crypto-Currencies, BITCOIN, and and BLOCKCHAIN?
Average Middle-Class Worker Folks:
Most people are confused about Crypto-Currencies and some get dizzy headed trying to understand what they are and think only weirdo nerdy guys can understand them. So, we will make it as simple to understand as we can for the average person, just like us all.
Bitcoin–is a Crypto-Currency Digital Financial Banking System–done on computers using the Internet. One of the nice things about it is that 2 people from anywhere on earth can do a Bitcoin exchange or transaction without any middlemen, banks, Swift System, or Govt. interfering. People like the idea that no one can freeze their Bitcoin account or confiscate their holdings. It’s cheaper to do than money orders or wire transfers.
Every person using Bitcoin has special unique Keys (or Codes) for deposits and withdrawals. Tragically, if a person looses or can’t remember their keys codes (Passwords) or they are fooled into giving them away by paying the wrong person–then they can’t ever access their account again.
There was a man who when doing moving accidentally misplaced or lost his Bitcoin Passwords and can’t access his account with around $12 million worth of bitcoins in it. Recently, the FBI got a hold of some passwords from a malware criminal operation. And used the passwords to enter their Bitcoin account and took all their millions of dollars worth of assets.
With Bitcoin every transaction done is recorded instantly on an ongoing Ledger which is called a–Block-Chain. Every computer used in Bitcoin all around the world has an instant update of any transactions done. This Crypto-Currency can never be hacked.
There are No actual coins. It’s all Digital. All a person needs to get started is a smart phone, digital wallet, and access to the internet.
Since there are 2.5 Billion peoples who don’t have access to the regular current Banking System: Bitcoin is a Banking solution for them. Over 100,000 businesses worldwide accept Bitcoin, and Bitcoin ATM’s are springing up in some places. Coinbase will buy Bitcoins.
Ethereum is the 2nd biggest Crypto-Currency after Bitcoin with the backing of the Russian Govt. behind it. Retail giant Walmart has a patent filed to create it’s own Crypto-Currency. Facebook may launched it’s own Crypto-Currency called Libra sometime soon. It will backed up by cash and bonds. It will have Libra wallet apps. And some select grocery stores/convenience stores will sell it.
Governments may outlaw Crypto-Currencies in their countries and try to shut them down or make it a crime to use them. Many fear China will outlaw all Crypto-Currencies in favor of everybody using their Digital currency Banking System instead. Recently, they have been cracking down on Bitcoin miners who use massive amounts of energy in China to mine for Bitcoins. Elon Musk says Tesla won’t accept Bitcoins for payments for their cars. He said, they use way too much energy and that is bad for the environment. Bitcoin reached a high of $64,000 a coin but nowadays it is selling for thirty thousand something dollars a coin.
There are over 18,000 Bitcoin Millionaires or those with Addresses containing more than 1 million worth of Bitcoin.
Michael Saylor a well known Financial wizard has bought over a billion dollars in Bitcoin, and is purchasing even more. He said he had $500 million in cash and reasoned to himself: That Inflation is over 10% this year and maybe much more, and the minimum inflation over the next 3 or 4 years would be 10% annually. So, ”I saw losing $50 to $100 million a year from Asset Inflation” (Of The Cash he was holding). He says he won’t sell his Bitcoins but that it will be a permanent financial holding.
Talk Show Host: What are your Final Comments?
Greedy Super-Richie Guy: The Yuan and Euro will always be lesser currencies than the dollar.
How dare you accuse the Federal Reserve and the policies of QE as “Cooking The Books”. You act like they are doing criminal activities. Such Hogwash!
America uses the SWIFT System to scare countries to kow-tow, and do as we say or suffer the consequences. We enjoy seeing Russian and Iranian citizens suffer economically from the economic Sanctions on them. Let them eat cake. Ha, Ha.
Bitcoin and all crypto-currencies are phony-baloney in my world. As Warren Buffett said, “Bitcoin is a mirage.” China, the USA, and other major economic countries will tax, and eventually outlaw crypto-currencies in the future. Each country will have their own crypto-digital currency and won’t allow competition with it in their countries. Eventually, there will be a One World Currency, and it will be the only one allowed by law in all countries.
The USA will always pay it’s Debts because we are the World’s #1 Economy. Everybody should buy Treasury Bonds because they are as good as gold. Actually they are a lot better.
All you Average Middle-Class Worker Folks–are a bunch of nut-cases who need Psychiatric help and then you need to be put on strong medications to sedate you and prevent you from ever saying a word against us righteous Greedy Super-Richie Guys who are saving America from financial ruin. All your facts are distorted or false. You need to assume the position on your knees and say you are so sorry for saying falsehoods against us.
Always remember: Greedy Super-Richie Guys rule Baby!’ Ha, Ha and always will.
Average Middle-Class Worker Folks: From all the facts I have presented today it looks like America is going to eat–the big one-in the future. And is on the path of no return downward to a dark nightmarish financial collapse.
Thanks for having me on the show.
End of ECONOMIC AVALANCHE Talk Show
Contact and Donations:
GOD’S DIGITAL BIBLE
William Charnow 805.451.7635 godsdigitalbible.com
P.O. Box 3992, Santa Barbara, CA 93130
—Feel Free to PRINT this Book up—and use and distribute it as you want–
—Our Books and God’s Digital Bible are all FREE. Any–Donations–go towards
helping us continue to do so.
Thanks, William Charnow