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Potential for Currency Collapse

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25 Apr 2020 08:53 #3995 by PrepperPrepperPrepper!
Potential for Currency Collapse was created by PrepperPrepperPrepper!
Hello all,

I know I am new here. I feel like I have come out of the closet with prepping. I am an American Gov teacher in Maryland, pretty darned educated and know basic economic theory and MMT(Modern Monetary Theory) from my studies. I'll leave the self love right there and begin a short diatribe on why the currency collapse and House of Cards that is our economy will be the true reason for "hyper-prepping" as I am doing now.

As you know, we are the reserve currency of the world. Oil, trade and other global transactions occur in dollars. That is about to change.

Credit between big banks and their lending is beginning to freeze up. This has a domino effect on everything else. The Great Depression really got rolling with "Creditanstalt" tumbling and declaring Bankruptcy in 1931. Same happened for Lehman in 2008. Here we are for the final and most depressive domino falling...the question is which bank will be that first domino.

The dollar problem has arisen partly because interest rates are too low. The comparison is not to be made against negative rates in other currencies, but in the context of the domestic US economy. From rising food prices, deteriorating government finances and falling stock prices, other factors will flow. Bond yields, which cannot fall by much, will begin to rise as the government deficit increases, particularly with foreign buyers for US Treasuries being absent. Inevitably, the Fed will then come under pressure from markets to raise interest rates. In the face of an economic slump this will be resisted, and the exchange rate will fall. As the banker of last resort for the US government, the deteriorating economy, and for the rest of the world, the Fed will not only be financing everything but forced into buying bonds the foreigners and others sell as well. ( www.goldmoney.com/research/goldmoney-ins...at-currency-collapse )

Above quote explained: No on wants our debt or dollars so all of that will be dumped by the rest of the world and come sloshing back home effectively making our money worthless. from there we become akin to Zimbabwe and/or Weimar Republic Germany. Money becomes paper and your purchasing power is done.

The point?

The collapse of our credit and monetary system is happening. People are watching the left hand as it does prestidigitation with Covid19 while the right hand is losing its grip on the world economy. I will not theorize if all of this is purposeful or not, BUT WE ARE HERE.

A global depression would be devastating. With the current tech state of things, much of our liberty would be sullied for the masses begging for help in any way.

I won't say this is all inevitable, but I see no way for the ship's course to be corrected. I think the economy is about to truly collapse.

As preppers we all know to have food and be as self-reliant as we can be. I would hope that you will consider protection of your fiat currency and have a modest amount of precious metals in your war chest. Also, items for barter(liquor or skills) would be smart. Sewing and auto-mechanics are great skills to have.

BTW, after a depression, war is what usually occurs.

Thanks for you all being here. For 8 years I have been prepping and always felt like something was on the horizon. I felt a little cray-cray, but now I know that it was a sentience and not lunacy. Having a digital community here to come to makes me feel a little less alone in my preps.

Hope your all doing well. I'll try to keep future posts more mundane. Now I get t go learn how to raise chickens.

Be well,
Prepper Andy
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25 Apr 2020 12:54 #4000 by Stever
Replied by Stever on topic Potential for Currency Collapse
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25 Apr 2020 14:42 #4001 by trail
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25 Apr 2020 22:26 #4012 by PrepperPrepperPrepper!
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06 May 2020 10:45 - 06 May 2020 10:47 #4264 by trail
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