by Financial Argument via Financial Argument
Many people are not aware of what is happening. They are not aware that the U.S. dollar is collapsing and a new monetary order is coming.
According to the latest data published a few days ago, global debt has exceeded $281 trillion. This is a record high, surpassing predictions that were already terrible enough. The global debt amount increased by $24.1 trillion when compared to 2019, which was $ 281.5 trillion at the end of last year. It’s clear that, in the next few years, debt will rise to the quadrillions. And these debts belong to governments, companies, and, even worse, households.
For those who have been watching the Financial Argument for a long time, these numbers are no surprise. I have been telling you that the current corrupt economic system (which has been connected to the fiat monetary system for years) is permanently damaged and cannot be recovered.
But many people also forget that the paper money in their pocket is nothing more than a promise made by their government or bank. And we know that they have not kept these “promises” many times in the past.
At the Bretton Woods conference in 1944, the American delegation managed to convince all other nations that the U.S. dollar was the world’s new reserve currency, establishing a new monetary system similar to a gold standard.
This system was great until 1971, when Nixon officially announced the end of the gold convertibility. Though the debt crises following Nixon’s announcement had been painful, it wouldn’t compare to what happened in 2008 and what is happening currently. The theoretical ship had hit the cliffs and was taking on water.
Attempts were made to cover the breaches of the ship with limitless money printing, but it was never successful.
With the repo crisis in September 2019, the ship has now hit a massive iceberg and we have entered a period worse than what many experienced in 2008.
The world’s central banks continue to make the mistake of printing more paper money, sinking our ship even faster.
Those who know what real money is have already saved their lives by jumping in the lifeboats, though there are still some who are standing around, listening to the sound of violins. If I could say anything to them, it would be to leave the unlimited money ship before the music played by central bankers goes silent.
They do not need to tell us they are not keeping their promises. History proves this is true and we need to be prepared; “Preparing for the worst economic crash in history, perhaps in a few months, with real money”
Limited money and real money created by God, gold and silver, are always a top priority in my portfolio.
I have mentioned in my previous videos that many countries are preparing for a new global monetary order. They have been purchasing gold and silver for years.
In the same vein, we are going to discuss Bitcoin. Because, in preparation for the impending economic doom, I decided to add some Bitcoin to my portfolio and did so before the last major increase.
Donate to Financial Argument: www.patreon.com/financialargu…