The US GDP drops by a Third, The biggest GDP contraction since the Great Depression !!!

The US GDP drops by a Third, The biggest GDP contraction since the Great Depression !!!







US Q2 GDP Crashes By A Record 32.9%, Worse Than Great Depression. The coronavirus pandemic triggered the sharpest economic contraction in modern American history, the Commerce Department reported yesterday. Gross domestic product — the broadest measure of economic activity — shrank at an annual rate of 32.9% in the second quarter as restaurants and retailers closed their doors in a desperate effort to slow the spread of the virus, which has killed more than 150,000 people in the US. This is about $1.75 trillion of lost econ activity. This is on top of $2 trillion Cares act spending. Admittedly 100% if funds were not distributed in q2. The quartering is just how much the Cares Act was in GDP number. Obviously, if all $2 trillion was in q2, then GDP would have been down 3.75 trillion or about 75%! So, GDP plunged by 33%, and billionaires are up 33%. What a world we live in! The economic shock in April, May, and June was more than three times as sharp as the previous record — 10% in 1958 — and nearly four times the worst quarter during the Great Recession. The second-quarter decrease in real GDP reflected decreases in consumer spending, exports, inventory investment, business investment, and housing investment that were partially offset by an increase in government spending. Imports, a subtraction in the calculation of GDP, decreased. That said, the biggest contributor to the overall GDP drop was the crash in consumption - the decrease in consumer spending reflected decreases in services (led by health care) and goods (led by clothing and footwear). Personal Consumption accounted for the bulk, or -25.05%, of the overall -32.9% GDP drop, and five times more than the -4.75% Q1 GDP drop. Business and personal investments plummeted, with a staggering 43.5% annualized rate decrease, or a 10.9% decrease from last quarter, on non-defense federal spending softening the blow of the shutdown. (Whereas decreased demand for goods only contributed to 2% of our GDP contraction, service consumption contributed to nearly a quarter, a plurality coming from the shutdown of the healthcare industry.) Predictably, the nation suffered its first quarter of deflation since 2009, with our PCE price index falling by 1.9%. The flip side to our deflation? Nominal losses are actually slightly worse than our real GDP contraction. So, we are in a depression now. A 10% decline of GDP in a single quarter defines an economic depression. And the Markets will rise because “we beat the expectations.” The biggest GDP contraction since the Great Depression - and it is like it never even happened - in a little over 4 hours. All bad news is Priced in, always. New All-time highs here we come. Who needs GDP when we have central banks? US stock prices are rigged by Fed computers. How else can you explain new all-time highs For stocks in the middle of a Depression. The Fed 500 is only down a few percentage points during this economic meltdown. It’s funny how seriously people take a market that is so blatantly staged. It’s like thinking a reality tv show is real. Caracas stocks up 300% this year. It is indeed where we may be headed. Of course, not as high as our currency will still be considered safer. But in the early stages of devaluation, it’s easy to confuse stock market gains meaning economic growth, when really it’s just devaluation. Of course, the issue is that there aren’t many better countries to run better. So we’ll be able to continue charade longer. Crashing the economy worked wonders for the market in Venezuela. If you like eating cats and having large returns, it is the place to be. And everybody over there is a millionaire. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. And as You know friends, I rely totally on your donations to keep this channel functional, as you know, it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. How many sectors would be dead without government intervention via bailouts? We've skipped the hundreds of billions, and gone straight to trillions. We've broken every tenet of Keynesian economic doctrine, by bailing out bankrupt, and non-viable businesses by money printing. It's over. The US economy is all but dead, and what comes next won't be pretty. And the looming evictions may soon make 28 million homeless. By comparison, 10 million people lost their homes in the Great Recession. This is what you get when every single Mayor and Governor across the Country shuts their state down, WHY IS THIS SHOCKING? AND WHAT DID we EXPECT? The response to Covid-19 has been more lethal and will continue to be more lethal than the disease. The body's response is what kills. Almost like it was planned to demolish the economy so effectively. In the Great Depression, politicians didn’t have Goldman Sachs showing up for lunch, to sell them on the idea that the taxpayer is totally irrelevant. “You can pay for anything, anytime, in any amount,” the sales pitch goes. The idiots believe it. That is the real pandemic: stupidity. We are witnessing in the United States one of the greatest failures of basic governance and leadership in modern times. Pretty pathetic that our government hands out free money to anything that moves, and GDP still crashes this much. Look at the FED balance sheet that didn't start three years ago. It was 2008........they are just kicking the can now. Remember when news like this would have crashed markets? But now it’s simply just another day on Wall Street. What would we do without Central Banks? The dollar is dead, and the world knows it. There is nowhere else to hide the mountains of dirt under the faux economy rug. Who would have ever thought that government mandating businesses shut their doors and stop all economic activity by telling people to stay home would cause GDP to go negative?? Maybe next, they'll show us a new study proving that water is in fact wet. For all that money the Fed was about to print, you needed an economic shutdown. The Corona was the excuse. I would say this has been the biggest crime portrayed in history. Things would have been much, much, much worse if it wasn't for all that free money from the federal reserve. Bringing the stock market back up when it was taking a dive greatly contributed to the wealth effect. If the stock market was allowed to collapse, that wealth effect would have instead become the poverty effect, and spending would have slowed dramatically. And the stimulus checks, and the $600 extra per week in people's unemployment benefits, which also came from free money from the federal reserve, helped the GDP numbers greatly. And that isn't even including all the other stimuli such as the payroll protection scam, I mean plan, the fed buying up all bad debt, etc. etc. So if it wasn't for free money from the federal reserve, the GDP would have tanked by at least 50% easily. So the Fed did a good job. A good job at duping people. Money is losing its value; debt is climbing, jobs are dwindling, the US will cease to function long before it can impose its will on the world. The world knows this fact very well and is just stringing along with the giant while it dies. And The one thing that Trump is going to accomplish—as he desperately struggles for re-election—is he’s going to finally rip off the Band-Aid. We’re going to have a real debate about this awful curse of Keynesian central banking. Trump hasn't taken on the Central Bank, and his issues with the Fed are for his own political ends. The belief Trump has gone after the FED, because of Keynesian central banking is blatantly absurd. At best, the above has happened due to the law of unintended consequences. Trump isn't trying to rip apart the Fed. He's trying to force their hand to allow for negative rates. You are seeing the true masters of the country. And it is not the populace. Every dollar printed is an obligation on our backs. People need to wake up and think about that and stop viewing their country from a perspective of blue versus red. They both are plotting our downfall. Until that happens, there is no reason for hope. That's just the way it is. The cockroaches of the FED never die; they keep feasting off the host and allow it to live long enough to generate more capital for the parasites to waste. Most of the money in the US is created by banks when they make loans. The only way to get extra money into the economy is to borrow it from banks, leaving us all trapped under a mountain of personal debt and mortgages. When you take out a loan, new money is created. As people borrow more, more new money comes into the economy. All the extra spending this newly created money funds gives people the impression the economy is doing well, which encourages them to borrow even more. As the debt goes up, so does the amount of money. FOR EVERY dollar OF MONEY, THERE’S a dollar OF DEBT. Because banks create money when people borrow, for every dollar of money in the economy, there will be a dollar of debt. If there’s $100 in your bank account, someone else must be $100 in debt. Across the whole economy, there will be as much debt as money. IF WE WANT MORE MONEY IN THE ECONOMY, WE HAVE TO GO FURTHER INTO DEBT. If we need to get more money into the economy – for example, during this depression – then we have to go further into debt to the banks. This is why the government is desperate to get banks lending again: if banks start lending more, they’ll create more new money in the process, and the people who borrowed will spend this new money. But if the financial crisis was caused by people having too much debt, how can the solution be for people to take on more debt? IF WE TRY TO PAY OFF DEBT, THEN MONEY DISAPPEARS. When you pay down your debts, the money that leaves your bank account doesn’t go to anyone else – it just disappears. This is because loan repayments are just the opposite process to money creation: banks create money when they make new loans, and effectively destroy money when they repay loans. This was The Atlantis Report. Please Like. Share. Subscribe. Leave me a comment. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!

Rich Dad Poor Dad is the story of Robert Kiyosaki 's financial education. He had two 'dads' - one his real dad, who was poor, and the other, his best friend's dad, who was on his way to becoming a very rich man.

The End Of The Dollar Era Approaching

The End Of The Dollar Era Approaching




The End Of The Dollar Era Approaching A dollar crash is virtually inevitable. The stronger dollar era may be on borrowed time. The era of the U.S. dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. The days of the dollar as the world's reserve currency are numbered. This does not bode well for the future of the U.S. We have lost our leadership position in many areas. The decline will be painful. Oil and gold are starting to trade in other currencies. When the US dollar is no longer the world standard, America is in real trouble. The Federal Reserve deserves a huge part of the blame. The dollar is losing value against all major currencies. We have almost no savings and mountains of debt. We can't pay our bills unless the FED monetizes it. The Political situation turning US Dollar lower, and it will continue/accelerate downfall with more political turmoil/uncertainty. Some countries' heavy Dollar reserve holders will find themselves losing a lot of purchasing/exchange value. Trump destroyed confidence in the US, and he's alienated a ton of countries, including allies. China and Russia have already started trading oil in a non-dollar currency. If there's an alternative, other countries are certainly open to pursuing and using it. What's the dollar's future now that the Fed created an additional $5 trillion in just the last few months? This is an election year. The Fed could bail out every state, city, corporation, and pension plan even if it costs $50 trillion. They're going to use dollar bills as toilet paper within five years. Probably for three years. When the fed is printing trillions of dollars a month, something will eventually need to give. In 1981 the total debt was around 1 trillion, we are now adding that much each month to both the fed balance sheet and the national debt. Zimbabwe here we come. The dollar is a dead currency walking. With the Fed now creating more dollars in a month than they used to do in a year, we're going to have hyperinflation like Zimbabwe or Weimar Germany or Venezuela. Massive money printing always leads to hyperinflation. I expect the dollar to be dead within three years. China has been making deals all over the world to trade with other countries in the Chinese currency. The banknote known as the dollar was placed in a coffin by Nixon. Removing even the idea gold was backing the currency spelled its death. It is being buried six feet at the moment. May the fiat standard stay below ground. All fiat eventually goes to zero. As the US continues to pump phony money eventually, we will be papering our walls with it. The Ruble and the Deutschmark at their lowest come to mind. SDRs which were created by the IMF is a basket of currencies, albeit with the US dollar as the main currency. But that can change. With all that is going on in the US, more countries will look somewhere else. First the dollar falls, then rampant inflation kicks in. The US has done a magnificent job with the smoke and mirrors while debt keeps rising, now the rest of the world is waking up to the fact that they might not be able to pay back all the loans. In principal, US dollars should lose 50% of its value by 2025 due to infinite QE that will have printed close to $20T by then. But, the strength of a currency is relative. If you put $1 in a T-bill in Jan 2000 and held that until Jan 2015 before cashing it in, accounting for interest paid, taxes on that interest, and the currency devaluation over those 15 years, you would have just 75 cents of the original buying power of that dollar left. Investing in the US is a bad financial decision. The rest of the world is waking up to that realization. The US dollar today has just 2 cents the purchasing power it did in 1950. When it finally loses its World Reserve status, it will jump from $1800 per oz of gold to $30,000 per oz of gold within a year, and the US will become just another 3rd world debtor nation. The dollar is as dead as the USSR ruble or the ancient Greek souvlaki. If you have any, you should rid yourself of them forthwith. You should hold your dollars in other assets and convert when needed, don't just let your dollars sit there in your bank account because that's where the damage will be done. Every other asset will go up, some much greater than others. The stock market has turned into a high-interest savings account; you hold it in there and convert when dollars are needed. Stocks will not keep up with inflation, but its better than dollars in a bank account. Commodities will outperform stocks, but it's useless trying to hold physical bushels, bales, or drums. That's why gold is the easiest commodity to deal with; $500,000 in gold can fit in a sock drawer. The dollar has failed twice before in our nation's history. Once after the revolution and again after the civil war. It's about to fail again. Expect your wheelbarrow that's hauling around all of your dollars will be worth far more than the dollars themselves. Expect a 15:1 reverse split on the dollar with a return to the gold standard. The last time our dollar was worth 100 cents was back in 1933. If you peg the purchasing power of the 2020 dollar to the 1933 dollar, the 2020 dollar's purchasing power will look like this .00000000000000000000000000000000000000000000000000000000000000000001. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. And as You know friends, I rely totally on your donations to keep this channel functional, as you know, it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit. The rise of China and the decoupling of the U.S. from its trade partners is likely to end the supremacy of the dollar as the world’s reserve currency. Sooner or later, manipulating the dollar for our own purposes will come back to bite us. So much of the US prosperity these past decades has come from having the "reserve currency" with the willingness (now gone) to make sacrifices for the world order. The bottom line is that $6 trillion in stimulus has been created to deal with Covid-19. The national debt just passed $26 trillion (130% of GDP). When you create more money, its value must go down, unless other currencies are also being increased at the same rate. While Europe and Japan have also passed their own stimulus, they haven't created proportionally as much new money as the US. Meanwhile, China and Russia have so far refrained from using unconventional fiscal policies. Russia's government debt as a percentage of GDP is actually among the lowest in the world. Not everyone is in the same boat. The US will one day have to face economic consequences for what it has been doing for decades. But what's going to replace the dollar? Certainly not the euro. The yuan? China is even more manipulative of the yuan than the US is of the dollar. China has no transparency, and it has massive internal yuan debt over two times its GDP that is its priority rather than supporting the yuan as the new world reserve currency. The dollar's appeal is that it is 'the cleanest shirt in dirty laundry.' But, it's going to take a lot more than structural change before the yuan can even begin to function as a reserve currency. When people get really scared they go to Swiss Francs or gold. Any asset that can be arbitrarily revalued at the whim of the Chinese Communist Party can only be speculative. The dollar can be replaced by a basket of convertible currencies. In fact, individual investors should do some of that through international diversification. We are $26 trillion in National debt alone. States are in debt, state pensions are grossly underfunded by $1 Trillion, personal debt is skyrocketed. The groundwork was laid at least since 08 when the last crash happened. China and Russia made agreements with hundreds of countries and not just insignificant ones, but England and Australia to trade I there own currencies and bypass using the dollar. OPEC countries have been doing the same thing. Eventually, the dollar will fail. It’s inevitable . All fiat currencies fail. What’s next? Who knows? It could be a basket of currencies using special drawing rights from the IMF. More than likely, it will be digital, no more paper money. If ANY country on earth decides to just print dollars, FLOOD the world with paper money, then why work or waste time producing goods. If you create all this inflation, eventually it’s going to lead to a big increase in money supply, and then by their own definition, they’re going to have to withdraw all that money from circulation if they don’t want it to become worthless. But it’s easier said than done. Once you get everybody high on heroin, how do you take the heroin away without them going through withdrawal? That’s what the Federal Reserve just found out — again — when they tried to normalize interest rates after keeping them at zero for so long. The markets started hemorrhaging. They went into withdrawal in the fourth quarter of 2018 and everything started falling apart. So, they had to go back to QE. They had to go back to rate cuts. They had to keep the addict juiced up. There is a reason why China, Russia, Europe, BRICS (Brazil, Russia, India, China, and South Africa) are all deciding to use different currencies besides the US dollars. The US is dead broke and held up by countries that lend it money by buying US treasury bonds and bills, and at the same time, the dollar grows in strength, indicating a strong US economy. This is further evidence of a broke system. There will be an intervention, and then the dollar will eventually fall to an appropriate level, approaching zero. Then the dung will really hit the fan. Our monetary system is based on inflation. The greater shame is very few of us realize that we also are taxed on that inflation. Think capital gains. What a scam. "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." Henry Ford. I'm afraid 95% of Americans are too dumb to get it. Slave away at the 8-5 their entire lives for peanuts and get taxed at 50% while the FED creates trillions from nothing- no work or productivity, just money for nothing. The biggest scam of the last century, and still going strong today. Of course, for most in the USA, ignorance is bliss. I slave away too but am much more bitter with the current arrangement. Endlessly printing a currency may solve things in the short term, but long term, it causes serious damage to the value of that currency. This has been proven countless times in history. Now, do I think that the Dollar is going to suddenly crash in value overnight, leaving us all in some doomsday financial apocalypse? Of course not. It is still a (generally) strong currency and the world reserve currency. Despite that, no fiat currency is invincible to endless printing. Eventually, the value WILL come down relative to other currencies, and things WILL shift...over time. How long that takes is anyone's guess. Hedge your bets. You'd be smart to keep at least some money in harder assets with limited supply. The current system is being run to the ground by design, so the Fed. Can issue in a NEW system- henceforth why the Fed. It is "burning up dollars" to buy it all. May I suggest Water, Food, Lead, Silver, and Gold in this order. This was The Atlantis Report. Please Like. Share. Subscribe. Leave me a comment. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends! The dollar is being squeezed right now because of the sheer amount of dollar-denominated debt in the world (which tends to happen when you are the reserve currency of the world in such a globalized economy in the age of the internet). The danger to the dollar is that there isn't enough of them, of which everyone defaults, and something replaces it. I expect something similar to Bretton Woods to happen again, be the dollar pinned to Gold or Bitcoin or something. The deficits and money printing isn't serving the American people. It's serving the dollar backstop of the global economy. Global elites are getting ready and using the virus as an excuse to introduce a new reserve currency based on a basket of currencies and hopefully some gold too. "What currency would you buy and hold for the next 50 years?" Absolutely none. At 2% yearly inflation, your holding would be worth 63% less after 50 years. What currency would you buy and hold for the next 50 years? The US Dollar is programmed to devalue at 2% a year. In fact, the economy could not survive without that induced devaluation. One hundred ten years of data from Macrotrends indicates silver appreciates at 4.3% p.a. - with the volatility that creates income opportunities for selling covered calls. Using an ETF like SLV, the metal indeed becomes a virtual currency, liquid enough to use when bt and sold, guided by everyday needs. The reason silver certificates were pulled in 1963 was that the commodity value in a silver dollar for the first time rose above $1. It surpassed $1.33/oz in that year ( a silver dollar is 75% silver). It's now $17/oz. That should be all you need to know about how our monetary system works. Buy gold and end the FED, the dollar is being turned into toilet paper! Consumer spending makes up 70% of the USA economy. Most of that spending is on goods we import, which means other people work to make them, some of it is good, but we don't invent and build anything to put our people to work. With COVID 19 mishandling the spending is quite down to food mostly, I know that from my spending. The stock market paper gains are included in the economy, but most stay in the hands of very few people. It was decided back in 2008 that money has no actual value, so any saving not in the stock market produces ZERO income for their owners. Bush, Trump, and Republicans have been lowering taxes for the rich while neglecting to improve the infrastructure, health/safety, education, and job training in a changing world economy, stuff that would benefit the American people. Politics has been about so-called social issues that make no difference in people's lives, all about ABORTION, GUNS, RELIGION, AND HATRED FOR IMMIGRANTS. NOW the chickens have come to roost. The U. S. can only make a new currency by default. Its bonds would become as poisonous as those of Argentina. Interest rates would soar. As America funds itself by borrowing money, social programs and public services would collapse, and the military would dwindle away. It would go into immense poverty, because it is a nation of consumers, and has little real wealth. Manufacturing has all gone abroad. America lives by devouring the world's goods in exchange for worthless paper dollars, which were forced upon humanity by brutality and fraud. Once the dollar goes to zero, America is nothing. What is worse, its destruction will be blamed on capitalism rather than socialism, so that all efforts to rebuild will be futile. The stock market and housing bubbles would deflate, causing losses of up to 90%; pensions would be wiped out; all social programs would be cut; the price of good and services would soar because there would no longer be a strong dollar to buy them with; the dollar would plummet in value; unemployment would be lasting and horrific; and capitalism, instead of socialist central banking, would take the blame for it all, leading, possibly, to decades of misery under socialism. The dollar is the world's reserve currency. That allows the USA to run trillion-dollar deficits because it exports its inflation to the world, and the world absorbs it as the increasing population needs more reserve currency to conduct its business every year. That pretty well eats up the extra dollars the Feds keep printing each year to finance our federal deficits. If we were say Greece, the currency and country would have imploded decades ago, just like Greece did when it tried to run continuous deficits. The problem is our presidents, including Trump, are trying to use the dollar as a political weapon on countries like Iran, which will give countries a reason to use another currency to settle debts. China, Russia, and India are working on such a currency, When an alternative is available, the US dollar will implode, and the USA will be in a recession worse than 1929. Of course, it will fall because what goes up must come down eventually.No kidding! The Fed keeps adding zeroes to bank screens and buying stocks and bonds while propping up hedge funds. It is called the REPO market. In case of a default, the stock market and housing bubbles would deflate, causing losses of up to 90%; pensions would be wiped out; all social programs would be cut; the price of goods and services would soar because there would no longer be a strong dollar to buy them with; the dollar would plummet in value; unemployment would be lasting and horrific; and capitalism, instead of socialist central banking, would take the blame for it all, leading, possibly, to decades of misery under socialism. This is America's fate if it defaults. If it doesn't default, it has, at best, a few years longer before hyperinflation takes hold, and has to default anyway. Because, by this point, only tens of trillions per annum can keep yields sufficiently down for the system to function. They have tapered liquidity to $1.5 trillion per annum, and stocks are already slipping into a crash. It isn't enough. Food prices are rising because, rather than the last 39 years of the Fed creating credit and handing it to hedge fund managers and CONgress (creating asset price inflation and runaway growth in medical spending and what amounts to welfare, corporate and otherwise), new credit-money was handed to Joe Sixpack. 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. Goods availability is likely to crater in the next couple years, and if politicians attempt to make people whole by creating trillions in credit, all it will do is crush the average man's standard of living even more. Did the Trump Admin open Pandora's Box by seizing the Fed's credit creation system? Only time will tell. For nearly 40 years, we witnessed credit-inflation on an unprecedented scale, but because it flowed into asset markets (including the value of debt itself), no one cared. We all seemed to get rich. Now, much of that wealth (in the form of debt, and in asset prices rationalized by its wealth-effect existence) is likely to disappear (mostly chaotically), but goods availability may plummet as well, meaning that prices could rise or fall, but affordability will plunge for many things. Oh, how the sky darkens with chickens coming home to roost. On second thought, that must be locusts. KISSINGER AND PETRODOLLAR HEGEMONY. Nixon was taking advice from Kissinger. Kissinger is among the most powerful person from the globalist elite group residing mostly in the city of London. He is the masterful thinker and wanted to solve the severe US budget deficit caused by the Vietnam war. He wanted to go off the gold standard to avoid the US from selling the 10,000 tons gold holdings in the Treasury to pay off the huge budget deficit. So he proposed a strategic idea to make the US dollar the global reserve currency. To do so, Kissinger needs to bring China into the global market fast and become the top three users of US dollars. The other being Japan and Saudi Arab oil producer. Kissinger plays a very important role in China, becoming a global export powerhouse and factory to the world. This is not known by many people. Kissinger is the kingmaker for the US-China relationship. His key to the success of Petrodollar hegemony created in 1971, is to get China to be the big user of US dollar. This strategy reinforces the US dollar as the global reserve currency. US dollar, when becoming the sole global reserve currency, US Congress can print as much billion US dollars they want to finance military spending and social food stamps programs for the over 20 million jobless Americans. In order to get China to be the big user of the US dollar, Kissinger advised China to weaken Yuan to 1 Dollar=8.9 Yuan in 1994. (before 1994 1 Dollar = 4.5 Yuan). This ultra-cheap yuan force many American, Japanese, EU foreigner investors to start planning moving factories to China from South East Asia, and from 1996 China become the cheapest and lowest-cost producer, saw a sudden increase of FDI into China by foreigners. This game-changing China ultra-cheap yuan policy also caused the 1997/1998 Asia Financial crisis because foreign investors realize that it is much cheaper and most profitable to build factories in China after the ultra-cheap yuan policy is implemented. Many exporters in South East Asia unable to compete with China anymore. The southeast Asia economy in 1998 was totally destroyed by China under the fanciful name of globalization. From 1996 onwards, China becomes the cheapest and lowest-cost producer, saw a sudden increase of FDI into China by foreigners. China now addicted to US dollars and hold more than 3 trillion US dollar in foreign exchange reserve. China now has an estimated over $300 billion trade surplus with the US yearly. China needs the trade surplus badly in order to be able to print 5 trillion Yuan yearly to finance huge mega infrastructure projects every year. In actual fact, American consumers naively are supporting most infrastructure development in China by continuing to buy China-made products. Another reason why China's card was exploited is Kissinger wanted very much for China, and the US joined forces together during the US-Soviet Union cold war. Then this allowed the globalist elite from the city of London to screw the Soviet Union and cause the breakup into Russia. This enables the globalist elite from the city of London and Wall Street to loot Russia more than 3 trillion dollars of Russian natural resources until Putin put a stop to it. That is why the globalist elite wants to get rid of Putin. Russia is a gas station and still have a mountain full of mineral resources besides oil and gas. The next few years will be interesting to see how China has to kowtow to the US and give in to US demands or face a false flag nuclear incident in south china sea. China leaders have no choice if they want to keep and enjoy their wealth. Americans have woken up, and they have been pushed to the poverty wall caused by globalization. Unfortunately, hungry and angry Americans will resort to desperate things, even as far as destroying the whole world. Perhaps the dollar will fall sharply, so too all other major currencies, because all major economies have been doing the same thing "Quantitative Easing" as such, the exchange ratio between Dollar and major currencies remains virtually unchanged. There's an old business saying goes something like this "Thinking your competitors will fail is not a business strategy." The Chinese are fiddling with a digital currency offering that could easily replace the dollar. The benefits of the dollar have been its safety and security and backing of the US of A. Which right now took a nuke to the face economically, still has a pandemic running wild, and idiots in charge. And no, there is no guarantee on the treasury paying its bills. We already had prominent senators suggest defaulting on our Chinese owned debt, which even suggesting is against the constitution. With our debt dollar-based, cuts to the value of the dollar hurt. And at <1%, who would bother buying our debt? Currency collapses are usually followed by war. In the case of a collapse of a major global currency, that would mean global war. China / India may be the flashpoint. India, with the support of the US. China, with the support of Russia.



















Rich Dad Poor Dad is the story of Robert Kiyosaki 's financial education. He had two 'dads' - one his real dad, who was poor, and the other, his best friend's dad, who was on his way to becoming a very rich man.

👉Mortgage Market Meltdown: Mortgage Delinquencies Suddenly Soar at Record Pace !!

👉Mortgage Market Meltdown: Mortgage Delinquencies Suddenly Soar at Record Pace !!







Mortgage Market Meltdown: Mortgage Delinquencies Suddenly Soar at Record Pace. Over 4 million Americans are now skipping their mortgage payments. An indicator that presaged the Housing Crisis is flashing red again. New mortgage delinquencies hit a record as people couldn't pay. Many Americans did enter forbearance programs, but will they be able to pay in August, September, and October? 3.4% of mortgages are delinquent (2008 peak was 2.0%). Free cash flow is in free fall. The macro-environment is severely impaired. It’s actually worse. Mortgages that are in forbearance and have not missed a payment before going into forbearance don’t count as delinquent. They’re reported as “current.” And 8.2% of all mortgages in the US – or 4.1 million loans – are currently in forbearance, according to the Mortgage Bankers Association. But if they did not miss a payment before entering forbearance, they don’t count in the suddenly spiking delinquency data. These numbers will only go up after the "free money" train runs low on gas, which happens over the next few weeks. 30% of all renters are also now behind in paying their rents. And 28 million facing mass evictions over the next two months. Who will rent from those landlords who evict? You ain't seen nothing yet. Wait until the moratoriums prohibiting foreclosure sales are lifted. For FHA/VA/GNMA/FHLMC/FNMA, and most other private investors, there have been no foreclosure sales since March. With no interior appraisals, there has been little price discovery and mark to market balance sheet/loss reserve adjustments. Just wait. Madness is coming. The banks have a problem, and they know it. They may be better capitalized than they were in 2007, but that doesn't account for the bigger size of hidden risks embedded in the system (VIE). There is never just one cockroach. This will get way worse over the next few months. A new banking crisis is inevitable. Airlines, hotels, car rental, restaurants, oil drillers, refiners, and shippers did not sign leases and borrow huge sums of money based on 50% capacity. Too much debt and not enough customers equal bankruptcy. But no need to worry, the banks are too big to fail! “This is a financial extinction event, and the Fed's pathetic shamans can't reverse history.” This is a financial extinction event and the Fed's pathetic shamans, along with the willing politicians across the globe, and the abject stupidity of the sheeple, CREATED THIS history for the purposes of causing worldwide neo-feudalism. Global Debt Ponzi Death Rattle. We should be getting massive deflation, as asset values begin to reflect economic reality. Too bad that won't happen. The Fed won't allow it. The government can't afford it. This is the road to hyperinflation. There's still property tax, inflation tax, bank bailout taken from your bank account tax (incoming), police and eminent domain asset seizure on spurious grounds (like unproven speeding), rioters ravaging your area. Systemic collapse is ongoing. Debts are inevitable in this monetary system, same with foreclosures and therefore the need for forbearance, it's like a game of musical chairs. Americans have been sold the notion that homeownership is a means to independence, when, rigged as the system is, it’s just the opposite: a road to dependence on your employer and eternal debt. Banks have arranged mortgage payments so that a borrower pays mostly interest in the first years—and in most of the years—of a loan, which minimizes borrower equity. Not until roughly year 20 of a 30-year mortgage does the amount of principal paid off equal that of interest. With the game rigged like that, a homebuyer doesn’t acquire much equity until the last third of a mortgage’s life. Until then, they are paying mostly interest. That’s wealth extraction. It could be set up in many different ways, but the banks have gamed the system to benefit themselves and screw the mortgagee. The word MORTGAGE itself means death agreement. Stew on that It translates from the French, literally meaning "death grip." That means the lenders' attachment to the property until they are repaid can not be broken. And who is next in line - the taxing authority - none ( individually ) to my knowledge have allodial title to their property. In most cases, it can be taken from an individual if the taxes are not current. Everyone is paying rent, though it masquerades as buying ownership. The home mortgage is only one of countless methods by which the rich use their power to move wealth toward them. Corporate and wealth-favoring tax breaks, high taxes on earnings versus low taxes on capital gains, pre-payment penalties, exorbitant credit card interest on no-annual-payment cards versus low rates on high-annual-payment cards for the rich, redistribution of taxes to corporate officers via government contracts and subsidies, expensive lobbyists who write the laws, executive salaries thousands of times greater than those of workers—these are all legal tricks to help the rich pull money out of the pockets of the rest of us. It is a system designed for the rich to direct resource flows toward them, not because they merit it, but simply because they control it. If you haven't worked out by now to move out to the country ( preferably with some arable land and debt-free) away from urban crap holes, then it's likely too late. It is staggering how few people truly understand the usury of debt. For every dollar you borrow and then owe, you must earn 3 dollars to pay it back. Why? Because for each dollar you earn, the government gets a third, and then the bank gets a third in interest. It's modern-day slavery. Funny how they don't teach this in schools. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to smash that like button. And as You know friends, I rely totally on your donations to keep this channel functional, as you know, it takes a crazy amount of research and time to bring you this content on a daily basis, so I hope you consider helping with whatever donation you can afford. Thank You. What we have here is another crisis manipulated by the financial pirates to their gain. Just as when Bush was in office, they have another easy to manipulate leader in Trump. So what we get is huge government debt, which goes to cover the losses the pirates would have taken based on their previous reckless behavior. Politicians are just puppets. It's the central bankers orchestrating this takeover of everything they can get their greedy hands on. Mortgage defaults were skyrocketing long before the pandemic. Housing prices and rental rates were cratering long before pandemic too. Mortgage defaults started skyrocketing two years ago. Just wait until mid-September when the defaults skyrocket. If you think this is bad, wait until the eviction moratorium is lifted. Smart landlords are ahead of the game and have started the eviction process, so they can be first in line at the courthouse. But that ain't nothing compared to the avalanche coming when the rest of the landlords that have been operating with good faith realize that all that back rent won't be paid. And that's only residential. Commercial Real Estate will make all that SOAR EXPONENTIALLY! Central banks have been printing cash so fast since 2008 that they have managed to keep the nuclear winter away from the heat of the press. So, bank cartel, how's that MMT working out for you? Or is that your plan, to foreclose on all privately held property? Perhaps this is the endgame of the fiat currency debt-based economy that has been punishing savers and rewarding debtors for decades. To get nearly all private assets tied up with debt so that they could be stolen at the fall. Bought up with money created out of thin air. MMT is working great for Wall Street. Not much MMT for the main street. And MMT for individuals needs to become perpetual since this is the only thing supporting our economy. Once it ends, so does our economy. MMT, after this next round of stimulus, will end, and so will our economy. Everything is moving along as planned. And those who created this crisis in the first place will offer to bail us out after everything crashes. All we will need to do is allow this international banking cartel to replace our US dollar with a currency of their very own. A long-desired, one world currency. If Congress doesn't plug the unemployment hole, all Hell is going to break loose; you will see riots that make Soylent Green look like child's play. What the Globalists unleashed will earn them a repeat of "house cleaning" a la French Revolution. When they killed the Thin Blue Line, they killed their own wall, separating them from very angry, very hungry, very desperate mobs. "Desperate People do desperate things. The Globalists will get an education: You can't run the world from an underground bunker - especially when your bought and paid-for cops and military turn on you because they finally realize there is no reason to allow you to live when they can split-up your wealth. The fallout will be epic. You should have a plan and pray you never need to use it. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. 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Rich Dad Poor Dad is the story of Robert Kiyosaki 's financial education. He had two 'dads' - one his real dad, who was poor, and the other, his best friend's dad, who was on his way to becoming a very rich man.