Josh Sigurdson talks with author and economic analyst John Sneisen about the fall of the US dollar following the drop in interest rates by the Federal Reserve this past week.
Following the announcement last month that the Fed would be making a decision on lowering interest rates, JP Morgan made a pretty substantial move, advising customers to hold less US dollars and more gold as well as a few other fiat currencies globally.
This in its own way is a stunning admittance that the major banks which themselves are bankrupt are bearish on the US dollar!
Goldman Sachs also made negative comments about the interest rate drop.
This is going to cause a domino effect and the US will go into negative interest rates.
All the while, we see countless countries throughout the world also desperately lowering interest rates including Australia. They’ve propped up the rates as long as possible, papering over recession with more and more debt going back to 2008 and decades earlier. It cannot be sustained any longer and the Fed did exactly as we had predicted they would for years. They lowered interest rates. The major issue is that interest rates are already dramatically low all while recession indicators take hold. We are already in a crash, it’s just being papered over under the guise of “growth.”
This will continue to get worse. As all fiat currencies eventually revert to zero, it will be important that people understand the problem, take the appropriate steps to insure their wealth and be responsible with their money.