Josh Sigurdson talks with Dr. Ron Paul, former congressman, presidential candidate, author and host of The Liberty Report.
Dr. Paul talks about the coming dollar crash and how it will happen. There is no escaping the fact that all fiat currencies throughout history have reverted to zero eventually. While the fundamentals are off the table due to the level of manipulation in the monetary system as well as in the markets and one cannot put a date on the coming crash, we know it has to happen. It’s inevitable. As we reach a potential yield curve inversion, this will not end well.
Will we see a global centrally planned cashless society? Dr. Paul says it’s a desperation move to attempt to implement such an agenda, but that it’s not likely to actually succeed. All the same the potential is a major problem and something individuals must understand.
From that, Dr. Paul talks about the insolvent banking system and how the cash to deposit ratio among the banks show that the banks must fail. Many of the major banks have a ratio of less than 1% of deposits covered in cash. They never recovered following 2008 and have been essentially propped up, only getting worse as they’re further centralized into temporary prosperity.
The everything bubble is also a major issue on the coming timeline. We have a pension bubble that could see a 400 trillion dollar shortfall globally by the year 2050. That’s more than 4 times the global yearly GDP. Can it sustain itself? Certainly not. Dr. Paul talks about the countless problems with the pension system and with that the utter dependency so much of the populace has on government. Is there a concerted effort to push the populace into complete dependency to the state and banking system? Absolutely says Dr. Paul. That’s the point!
We always enjoy having Dr. Ron Paul on WAM and we hope to talk with him again soon!