There is a strange belief floating around on several monetary conspiracy websites and blog sites. This belief can also be found on many YouTube channels. It says the dollar will totally collapse on September 27th, 2016. As a result of this event, every world currency will also collapse and the global economy will suffer great calamity. Many people have bought into this theory. Is there any truth to it? Let’s explore more details about this belief. Here is their case from their perspective. This is basically a paraphrase of their thought process blended together from many of these sites.
What They Claim
The dollar collapse will be the single largest event in human history. This will be the first event that will touch every single living person in the world. This collapse will not only bring down our dollar but it will also bring down every fiat currency around the world. The collapse will bring hyperinflation and every fiat currency in the world will collapse.
The economy was hit hard by the fall in oil prices. As an example these falling prices have already affected daily life for Venezuelans and everything has become an uphill battle. Now that the oil bubble has burst, nations that depend on oil sales are going to face great economic problems in their country.
In the U.S. we cannot keep living like we have twice the income that we really have. The Federal Reserve created trillions of dollars to buy most of our national debt and mortgage debt with money that they created on the spot, and nobody will buy this mortgage debt in the future. It is a Ponzi scheme. Our national debt will have doubled in just the time Obama was in office.
The more there is a risk of a default in currency devaluation, the more interest rates are going to rise. We may be able to pay $20 trillion dollars of debt at 3 percent interest with some pain, but at 6 percent interest or above for any extended period of time it will cause a total economic collapse.
Things got so bad that since 2008 most banks will not lend any more on commercial ventures. Instead, they are either still gambling on markets or they are sitting on their money. Nobody wants to lend money for economic development because they are afraid that they will never get paid back. Many other businesses that could expand will not do so because they are afraid of higher costs in the future through government taxation and regulation. That is one reason people are dropping out of the workforce. There are fewer businesses in America in 2016 than there were before the 2008 crash.
There is no easy answer to the world debt problems because many people and nations around the world have been living beyond their means for decades. They have been amassing debt and entitlements that cannot be sustained. With their aging populations, there is no next generation being raised that will have the numbers needed to pay the bills. The credit line of many nations are maxed out, and the young cannot support the entitlements that the old were promised.
As if the spending beyond our means for decades wasn’t enough, many banks are still gambling with your investments. They take your money and use it as security to leverage investments worth thirty to a hundred times that amount. In 2008 some bubbles burst, and many that were gambling lost. Some financial institutions got bailed out, but most did not learn their lesson. It is even worse today than it was in 2008. These world banksters are still gambling with savers’ money.
Some big corporations and financial institutions could not pay their debts because of the severe downturn in 2008, so they either went bankrupt or were declared too-big-to-fail by our government, and the government bailed them out by Americans taking on more future debt.
Another reason for the lack of quality jobs is that the government cannot institute a policy to buy American-made products because they risk a trade war with other nations in the global economy who are also living beyond their means. The trade war is probably coming anyway because unemployed people of nations will demand that their government do something to protect their jobs. All government can do to keep jobs at home is to allow protectionism.
Our future appears to be deflation, depression, or hyperinflationary depression which is bound to come as a result of overprinting the currency. This will allow the rise of populist demigods who will convince people that they know who is to blame and that they have all the answers. In other words, we are now repeating the same mistakes of the 30’s that led to the nationalist socialistic movements and the start of World War II. It will not be much different this time around, except that the stakes for the world will be much higher.
The same mistakes in housing in the US are being made all over again. The recent climb in values will probably be short-lived as this country goes back into the next phase of this depression. Foreign investment speculators who think we are in recovery are once again buying real estate and driving up prices. The percent of Americans owning their own home is actually still falling and has fallen to 1990’s ownership levels. Family income in the United States and hours worked is still falling. The recovery is most likely phony, and what recovery there seems to be is really built on the Federal Reserve creating more money and more government borrowing. The recovery is going to speculators in the top one percent.
But you can protect yourself from this entire calamity by purchasing gold and silver, or getting our inside trader stock tips or purchasing our newsletters. You might want to stock up on your stored food supply as well.
These thoughts are the case that is represented in most of the conspiracy videos, websites, and blog posts. These people prey on people who know little about economics. I debunked most of this rhetoric in my book “The Truth About The Coming Global Currency Reset.” Most of the panic in this analysis is mixed with half-truths in an effort to make it more believable. If you know anything about real economics then you can debunk most of what is being said here. So in an effort to ease any fear or worry, I will explain why this is a load of sewage. This information can be found in my book in greater detail.
Let’s Debunk This Crap
First and foremost, if the dollar were to collapse as these guys claim, why would they know the exact date on which it is going to happen? Some conspiracy sites say the date was chosen by the Illuminati or the Rothschilds. (Give me a break) I decided to do some research and see if I can find a reason for that date.
The Federal Reserve is going to issue the standard Federal Open Market Committee report on September 21st, just 6 days shy of the predicted date. Aside from that nothing unusual is going on with The Federal Reserve.
Southwest oil independents have scheduled a rally on September 27 against OPEC oil imports.
There is some speculation regarding interest rates in September.
In the end, I could not find any concrete evidence as to why conspiracy nuts chose September 27th to be the end of the dollar. This date was picked months ago! As I stated earlier, if this were to actually happen to the dollar then no one would know the exact date that this event would transpire. I believe this is part of a marketing ploy that these end of the world doomsday merchants have cooked up through the use of their nut job guru network.
This creates urgency to buy more gold and silver. You feel a sense of urgency to store more food. You begin to prepare for the end of the world.
The same thing happens in the dinar world all the time. If you think the revalue is going to happen on next Monday and today is Thursday, then you are going to place an order out of urgency. You are going to buy more dinar or put dinar on reserve. This is exactly why a revalue is predicted to happen every Monday
There appears to be two YouTube accounts which are the source of this erroneous theory. They are “Money News” and “Economic News”. From there it spread everywhere else. I started watching one of the videos, “Why The US Dollar Will Collapse on 27 September 2016 ?”. (over 700,000 views – see below)
This video is ridiculous. He starts off talking about a coming calamity, and then he says “will you take the proper steps to protect your family?” I am sure he is going to sell you the proper steps you need to take. There are many advertisements throughout this video, and with over 700,000 views some money is being made using fear tactics. Within two minutes of this video he mentions the National Inflation Association, which seems to have been debunked by Peter Schiff as a fake group with an agenda. (Check out the video below.)
Check out the National Inflation Association below
I think it is ironic that Peter Schiff is also one of the economists that they claim supports their theory. The truth is this theory only attaches itself to small portions of what Mr. Schiff says. The rest is all made up. Most laymen don’t understand reserve currencies or money mechanics, so these things sound plausible when they are presented through outrageous storytelling. These YouTube videos have disabled their comment section and suspended their voting as if they are afraid of being debunked. By now major warning lights should come on.
Peter Schiff has a reputable background and while I don’t agree with everything he says, He makes valid points on the nation’s debt. He points to logical problems that face the country. It is too bad that the Global Currency Reset crowd takes his comments out of context and applies it to their own ill-gotten gain. Peter talks about a collapse in the economy if these problems are not addressed. These guys take some of his facts and change it to a total collapse of the dollar and a revalue or collapse of every currency around the world. They seem to latch onto Mr. Schiff in an effort to gain some of his fan base.
Furthermore, these GCR gurus have been predicting the collapse of the dollar since the beginning of the millennium. Recently Lindsey Williams predicted the dollar will collapse under a global currency reset in 2012. It was predicted to happen again in 2013. Then the dollar was going to collapse in the first quarter of 2014, and finally, the dollar was going to collapse at the end of the second quarter of 2014. That is when the dollar took off like a rocket. 2014 was a great year for the dollar and 2015 was the best year the dollar seen since 2005.
The last time the dollar crash was predicted was May 28th, 2016. Before that, the last prediction was in April of 2016. So as you can see, these Global Currency Reset guys have a long track record of being wrong. They have been wrong in 100 percent of their predictions. I predict that they are going to be wrong once again on September 27th. There is not going to be a major crash of the world currencies on that date! Let’s wait and see who is right!
Get Your Facts Straight!
These GCR guys mix a little fact with fiction to create an illusion in order to sell their products. The valid points make the invalid ones seem more plausible. This is no different from what the dinar gurus do. The only reason why it is addressed on this website is because dinar gurus have tried to link the GCR to the revalue of the Iraqi dinar. Let’s cover a few of these so-called facts.
First of all, there was never an oil bubble as these loons proclaim. Oil prices are driven by supply and demand. The more oil there is the less it cost. This is economics 101. The reason why oil prices are cheap is because Saudi Arabia flooded the market in an effort to shut down American fracking. The increase in oil production in America has led the Saudi’s to take this strategic approach. Russia also supplies the world with oil. This is how their economy recovered from the crash of the ruble in the 90’s. Canada is also looking for a better way to bring more of its oil to global markets. This is what the keystone pipeline was really all about. Now Iran is able to bring their oil to global markets as more sanctions are about to be lifted. There are many other oil-producing nations as well. So as you can see, oil is not likely to go up with major price increases anytime soon as long as new supplies enter the market and nations are competing around the world for oil sales. This is not necessarily a bad thing for the U.S.
It is true that Venezuelan citizens are suffering right now, but this is primarily due to the fact that Hugo Chavez took over the country and instituted communism. He appointed businessman Roberto Mandini president of the state-run oil company Petroleos de Venezuela. Chavez also set out to rewrite the Venezuelan constitution. He kicked out oil companies while keeping much of their equipment. He gutted most of the private sector. His actions had an effect on the country’s economy. While falling oil prices contributed to the problems that all Venezuelans now face, the root cause was communism and a gutting of private infrastructure.
The problem with these GCR guys is anytime the price of some commodity drops they claim the commodity was really in a bubble, and the bubble collapsed because of debt or some other obscure reason. Supply and demand or natural laws regarding economics never seem to apply. From what I could gather, they believe several bubbles collapsed in 2008.
The dollar is actually a lot stronger than these arm-chair economists know. Ecuador, Zimbabwe, and the British Virgin Islands are just a few examples of countries that don’t have their own currency. They use the dollar exclusively for commerce among their citizens. There are many other nations that circulate the dollar along with their own currency because the dollar provides stability. In addition to this, the dollar can be found in reserves in most nations around the world. These reserves serve to back other currencies.
Let’s not forget about the petrodollar! In august of 1971, Nixon removed us from Bretton Woods. This is known as the Nixon Shock. In 1973 agreements were reached with Saudi Arabia and later OPEC. This agreement was that these nations will sell their oil only using the U.S. dollar. In returned the United States Government promised to make these oil-producing countries rich, and the U.S. would provide these nations with military protection if they were ever invaded. This is why we went to war with Iraq after they invaded Kuwait. Kuwait sells oil in dollars, and we had the responsibility to provide military protection due to the petrodollar system.
Selling oil in U.S. Dollars has been a source of strength for the dollar. While Saudi Arabia complains about fracking and at times has threatened to sell oil using another currency, the truth is this is highly unlikely because it will leave the Saudi government without military protection and they will be defenseless. Iran will more than likely engage with the Saudi government if this event ever took place. So as long as there is a demand for dollars in other countries because of oil sales, it is highly unlikely that the dollar will collapse anytime soon!
The Truth is there are a lot of problems with the Euro. We just witnessed the Brexit event. Spain, Ireland, and Greece, are just a few of the countries that have been a drain on the Euro. As a result, people are running away from the Euro and they are running to the dollar. As the Euro weakens the dollar grows stronger.
In spite of all the problems with America’s debt, one of the advantages that the dollar has is that there really is not another currency out there that can replace it anytime soon. Most conspiracy nuts will point to the Chinese Yuan, but as we will soon see this won’t be an option in the near future.
America has been exporting jobs to China ever since Bill Clinton lobbied to make China a member of the World Trade Organization. Obama loaned General Motors 80 billion dollars. They used that money to build eleven new factories in China. They even made their research and development center in China. Many U.S. businesses have relocated to China.
China has benefited by keeping their currency values low. This has caused their exports to grow. If their currency becomes a major reserve currency that replaces the dollar then that will place more value on the Yuan. As a result, their exports will fall. China is not going to put themselves in this position anytime soon. While America has around 12 trillion in their M2 China has 130 trillion Yuan. Talk about printing money! They back their currency with approximately 1,000 tonnes of gold and U.S. dollars, so it is extremely unlikely that China will give up their export advantage in order for the Yuan to become a reserve currency.
Many of these conspiracy theorist claim that the dollar is a fiat currency. They say it backs most other currencies making them all fiat as well. The next claim is that the Federal Reserve is printing too much money, and we will see hyperinflation as more and more of this currency enters the economy. These statements alone should show you how out of touch these guys are with the actual facts!
The claim that the dollar is a fiat currency is made in an effort to imply that the dollar does not have any assets to back it. It is merely worthless paper. Nothing could be further from the truth! Currently, there is a little over 166,000 tonnes of gold in the world today. Out of that only 17.4 percent is used as an asset to back currency. Out of that number, the United States currently has a little over 8,133 tonnes of gold for the express purpose of currency backing. THIS IS AN ASSET BACKED CURRENCY! The United States has more gold than any other nation. The U.S. also has other assets that back their currency. Second in line is Germany with 3,396.3 tonnes of gold, followed by the IMF with 2,814 tonnes. These numbers can be verified by clicking on the links below.
The Federal Reserve does not own one printing press with the express purpose of printing money. Any physical money that is made is done by the United States Treasury per the constitution! It is the responsibility of the United States Treasury to mint coins and print money! The Federal Reserve distributes the money the U.S. Treasury makes.
We currently have about 12 trillion in our M2 money supply. All of this money does not sit in America, and because of this it does not have a major impact on local inflation. About two-thirds of our currency is exported and used around the world. It sits in central banks and it is used as a reserve. It is used to buy oil and governments around the world conduct commerce with it. It is used by citizens of governments all over the world to conduct commerce. This notion that the Federal Reserve prints money is totally bogus.
There is much more that can be said to debunk all the claims this conspiracy group is making, but I think by now you are beginning to get the point. I could go on for days debunking their propaganda. These Global Currency Reset guys all have an agenda. It seems to be this, buy our products or you will die and we are going to scare you to death with junk economics until you get the message! It is totally idiotic beyond belief to arbitrarily pick a date and then proclaim that to be the time when the dollar and the world economy will come crashing down all around us! It serves a purpose. It creates urgency.
The United States Dollar will not crash on September 27th, 2016! Any proclamation that it will is pure fantasy, displayed by people who are writing fiction and presenting it as fact for a profit!
30 thoughts on “The Truth About The Coming Dollar Collapse on September 27th 2016”
Gold Is Money, Silver Is World Currency.
All others are derivatives to represent them,
which rise and fall like sun rising & setting.
Hello, today is September 28th and I still have dollars to spend. Why people who predicted that the dollars will crash on September 27th? why lied?
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Hi Wade, they lied so they could scare you into buying their crap. They lied to scare you into buying their gold and silver.
Yeah Maximus?, I heard the only gold and silver is real money argument before. It comes from the same group of people who predicted the dollar is going to crash on September 27th, 2016! Tell you what, take a bunch of silver or gold coins down to Best Buy or Walmart and try to buy something with it. Let’s see how far you get. If by some strange reason they decide to accept your metal, how do you think they will make change? You think they will break off a piece of the metal and hand it back to you?
The fact is the dollar is just as much a form of money as precious metals once were. These days metals are assets that serve to protect investments. The dollar is not going anywhere anytime soon. You should look at the reasons why we left the gold standard in the first place. There were a lot of problems with it. No one in the conspiracy camps pays much attention to that. All they know is if you don’t have gold and silver when the world ends, then you won’t be able to buy anything.
This is absurd beyond belief!
Thank you so much for this article. It’s good to see there are still sane people in this world. I was thinking about opening up a webpage selling tinfoil hats. I could make a killing! Wait… isn’t today September 27th 🤔
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The only thing I have to say about the states having a gold reserve is what reserve. I have seen a recent video of a senate investigation committee talking to a couple of people from the federal reserve bank and thay said the U.S. Hasn’t had any physical gold
Seance 1932 when thay replaced the gold with gold certificates with that years gold value of 0.42 cents per once value so again I say what gold????
You may have seen a video but that assertion is pure crap. Gold is held in 4 locations. In 1974 the vaults were opened and the media was allowed to come in and film it. There were audits done after 1974 as well. Ed Moy was director of the U.S. mint between 2006 and 2011. He says he saw the gold when he was there. Check the video below.
Don’t listen to them, they are selling stuff. Listen to me, here is a link to my book. You may be right, you may be wrong but your “logical” argument discredits even yourself.
Here have a link to help with sales
That’s what I like to read in the comment section, clueless, uninformed, judgementalism in an effort to justify scare tactics. You obviously don’t know what you’re talking about. Allow me to provide you some perspective. First, you seem willing to overlook the fact that there are no ads on this website. This website makes no money and I do not accept donations. I fund it myself out of my own pocket. No affiliate marketing is going on here and this website is costing more than the book has made. Surely you are not comparing a multimillion dollar scare tactic business to a 5 dollar eBook. It’s not like I am making any serious money here. I am not living a life of luxury from the sale of this book. Money is not a motivating factor!
The merchants who are the object of my criticism use fear mongering and conspiracy theories to move their products. They set bogus dates like September 27th, 2016 to sell more of their products. All of this fear mongering works because it moves the products being sold. I am not pedaling fear! There is a big difference. My book exposes the conspiracy theories and the fear tactics that these charlatans use. In addition, it shows why the dollar is strong around the world. It uses real economics and tells the whole story. This is something you are not going to get from the dollar is going to crash any minute and we can even set the date crowd! I call BS on all their crap including their fear mongering!
Just so that you know, I don’t condemn these guys for selling any merchandise. I condemn them for scaring the crap out of people in order to move their products. That is not what I am doing. My book provides the information that totally tears their arguments apart.
You don’t need to buy this book because all the information in this book can be found throughout the over 70 articles on this website and the many articles on my other website. (BVAWE) So if you don’t want to buy the book then read all the articles on this site and the other site for free to get the same information. Find all the ones that have the information that debunks the global currency reset and the dollar crash. Use the search engine.
Sections of the book are going to be made into videos and uploaded to YouTube so you will also be able to get the same information there soon. As I looked through Amazon all the books on this subject promotes the idea that the dollar is going to crash in one night and all the currencies will go through a global currency reset. All this is supposed to happen in one night? These books sell because it plays on people’s fears. My book is the only book that debunks the conspiracy theories using economics. And it explains why an overnight crash is not possible.
Since you’re so quick to judge me without knowledge, I am going to ask you straight up, Do you believe the dollar is going to crash on September 27, 2016? Why don’t you take some time and consider the information I present instead of trying to disqualifying the information with a judgmental attitude? Present your economic facts as to why this will happen on that day if you believe it.
This is by far the most logically based article about that hoax.
For people believing on conspiracy theories, PLEASE, PLEASE, PLEASE, just remember what happened to UK that could not even control the effects of Brexit, it was a referendum and it was 50/50 chance, and yet the consequences were fenomenos for a bunch of well strong countries, So, where were the big monsters claimed to be in control of the world’s economy?
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Thanks, Abdelmajid. And you make a very good point about the “Powers That Be”. Why couldn’t they stop Brexit? Are there wealthy people who influence world events? Of course. Nobody is denying that. But do they control everything going on in the world’s economy and geopolitics? Not at all. Think about it. In 2015, Forbes Magazine listed New York City with the most number of billionaires at 78 persons, followed by Moscow at 68 and Hong Kong at third place at 65 total billionaires. Each of these people are going to have competing agendas and interests. The idea that all of the world’s uber rich are working together with some global agenda is not supported by the facts.
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another thing even Ron Paul admits up to the us govs secrets how bout that a goverment aficial admiting to their plot to ruin america look it up i think i should know i do my research i think i should know what im taliking about i have out 7 years of my life in this an i know so the more you say its fake the more i know ill prove your wrong
Help me clarify something. Exactly what are we saying that is fake? Don’t you think it is ironic that only one congressman has made this claim? Don’t you find it suspect that after his term in office he hooks up with a known conspiracy scammer in order to sell news letters? Now Ron Paul is selling all kinds of prepper materials. I heard him on the radio the other day selling a food dehydrator.
This proves my point! Everyone leading the charge in this crap has a hidden agenda. They need people to believe the conspiracy theories so they can make money! I use to believe what you believe. Real facts say otherwise. Seven years of research on blog conspiracy sites prove nothing. Take some time and hear the other side of the matter!
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Ridiculous predictions like this shouldn’t even have to rebutted. They shouldn’t even pass the smell test. Unfortunately, like the dinar scam, there are desperate, ignorant and gullible people out there who will always fall for these cons. Religious nuts have been predicting the precise return of Jesus thousands of times since the story of Jesus was first told. They’ve all been wrong. Yet, there are still thousands of people that believe every new one. It’s a shame that people are so malleable but they believe these things because they WANT to believe these things. It aligns with their immediate desires or offers hope for their immediate fears. Sadly, I think as long as people are greedy or fearful, scammers will always have a rich pool of suckers.
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So when will we get out of debt? who’s going to pay for all these trillions of dollars? our kids
This is a real issue. The debt is a real problem and the consequences are going to be disastrous if something is not done. We are not denying that. The real question here is this. Does our debt really mean that the dollar is going to crash on September 27th, 2016?
That is really a big leap. How does anyone know this? Consider all the other dates that have been predicted. This is the third date this year. The truth is these dates are being arbitrarily set by people who want to scare the public into buying their prepper crap!
Yes, the debt is a problem. No, You can not predict a day when the dollar will crash. Look at the mechanics of what people are saying about this dollar crash. Many things don’t add up.
i think it is the loss of confident in issuing more debts to spur economic growth that trigger the collapse. This artificial move cannott last much longer hence a new way need to be sought. Therefore the old must give way to new hopefully creatively. But knowing humans viewing wealth then a undesired outcome maybe possible.
If the worst were to happen then aftermath – who got most gold rules. because gold is real money.
It is? Go into the grocery store and try to pay your bill with a $20 gold piece. Try to buy your next car with a bag of gold coins. Try to make your mortgage payment with that old gold jewelry you have laying around. Let us know how that turns out.
Gold is NOT real money. Gold is a currency hedge. The truth is, your gold will always have to be converted into a local currency to buy things. Always.
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Ron Paul and Ben Bernanke had this same discussion. I think it depends on how you define “real money”. Obviously gold is not currency that circulates like bills and coins, but it does have a monetary value that can be converted to currency around the world. That’s why most nations hold some gold in their reserves. But it’s not likely that we’ll return to the gold standard that existed a hundred years ago.
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I’m not suggesting it isn’t a good idea to own some gold. But gold has value for the same reason a dollar has value: confidence. People who own gold, do so primarily because they assume gold will maintain purchasing power better than their local currency. That may very well be true (although, not usually) but it is absurd for anyone to suggest the US dollar will suddenly collapse. The US dollar is the most widely used, widely circulated, and preferred currency for international trade. It enjoys “exorbitant privilege”. And for good reason. The United States has the largest, most diversified and most sophisticated economy in the world, by far. The world is wholly dependent on a stable, steady US dollar. A sudden collapse of the US dollar would be a catastrophic event akin to an alien invasion or world war. The US economy would have to come to a grinding, sudden halt for the dollar to collapse. People would have to refuse to show up to work, en masse. Factories would have to cease production. Salesmen would have to stop selling. Consumers would have to stop buying. It’s impossible. Very likely, the dollar will do what nearly every other fiat currency does: slowly lose its purchasing power over many decades until it is finally demonetized and reset with a “new” currency with the exact same name. The change will be gradual and barely noticeable from one year to the next. Some currencies erode their value faster than others but the only currencies that ever “collapse” are ones from nations that are ravaged by war, destruction or widespread disease or desperation to the point that masses of people leave, die or no longer can or will work. That is not the situation we face in the United States. Not even close. The US dollar is alive and well and will be for a long time (at least until the alien invasion, LOL).
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I fully agree! These are all my points as well. The only problem for GCR merchants is they don’t make any money if people believe this! This is why they propagate the lies.
@MOHD SHAH, These GCR people proclaim that any minute the dollar will crash because they don’t seem to understand debt very well. Debt has been used to spur economic growth for close to a hundred years now. Don’t take my word for it, Read the book the Federal Reserve put out many decades ago called Modern Money Mechanics. Some in the GCR community understand that debt is monetized. It becomes money. When loans are made that loan becomes new money in someone’s account. This is just one process used to monetize debt. Most people know it as Fractional Reserve Banking.
But this also means that when loans are paid off it shrinks the money supply because the debt is no longer monetized! This is something most conspiracy sites miss. By the end of the 2008 meltdown trillions of dollars were lost as the debt was canceled and removed. By purchasing these toxic assets the Feds put that money back into circulation and it actually did contribute to the recovery of the dollar. This is in spite of the fact that most people felt it would weaken the dollar.
One of the main ways that the money supply is expanded is through the loan process. It’s been that way for almost a century now. As the money supply contracted in 2008 the federal reserve made up for it by acquiring the toxic assets those debts represented. Basically, the expanded money supply was replaced as these assets were acquired. This action saved the dollar! It has not or is not contributing to its demise as most conspiracy nuts claim. This is not just the top 1 percent. We are also talking about the middle class as this action saved 401k and other retirement accounts.
People are quick to forget how bad things got at times when we as a nation were living under the classic gold standard. Before anyone lobbies for a return to that system, they need to study the hardships that went along with it. There is a reason we left the gold standard.
Real money is whatever people choose to accept as money. Be it dollars, gold, or even bitcoin. If people conduct trade with it and it meets the standard definition of payment, then it is money. Your argument that all money is fake and gold is the only real form of money has been disproven for a while now.
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As I recall in 2008 Obama just became president US debt was 8 Trillions now he is to leave US debt close to 20 Trillions. So 12 Trillions money printed went to spurring economy is supposed to be. But it is still stagnant , am I right?.
It seems the old way issuing debts as money did not work. So a new more creative way is needed.
But this way seems requires a financial revolution which nobody seems dare to think not to mention carry it out.
maybe these GCR people knows what is behind the scene being prepared, because normally in financial matters all planning is done secretly for not providing information for opportunist or else nothing can be properly planned.
And normally announcement be made in an unexpected moment just to get people caught unsuspectingly.
Having said that if nothing is done then what? print to oblivion amount?
@MOHD SHAH, I understand some of your concern because I have some of the same concerns. Twenty trillion dollars of debt is not a good thing. Something needs to be done to address this issue. So sometimes the GCR crowd will point to legitimate problems. There is no doubt about that. But the problem is the conspiracy theories do not assign a proper cause. This is an example of what I mean by a half truth.
A few corrections before we move along. The debt was 10 trillion dollars when Obama took office not 12 trillion. It will be 20 trillion around the time he leaves office. The doubling of the debt did not entirely go to spurring the economy. Only a fraction of the newly acquired debt did that.
Money from this debt went to sponsor government expansion. Obama Care cost a lot of money, entitlement spending also grew. The number of people on food stamps has risen sharply since he took office. Bringing in illegal aliens in massive numbers and giving them more benefits then retired veterans has also contributed to the debt. There are many things that Obama’s policies have done that caused this debt to accumulate and the list goes on.
But you are right! Twenty trillion dollars of debt is not a good thing! In addition to this, there are many government expansion policies that have killed jobs in America. Things like Obama care have so many regulations in them that it has cause employers to reduce the hours of many workers in America from 40 to 20 or 30 hours a week. Otherwise employers cost will skyrocket. So even though some employers have hired more workers all they were really doing is taking on two part time positions which equaled one full-time position. This is one reason why unemployment numbers are artificially low.
Because of the amount of regulations passed under Obama, many businesses have held off expanding because the risk of expanding is now much higher. They have also held off from employing new workers. There has been some growth but not as much as there should be.
This has had a huge impact on the economy and it has contributed to the rise of food stamps and other government entitlement programs. Furthermore, Americans now compete much more with foreign workers that take a portion of their wage and send it back to their country. When that happens that money is no longer available to work in the local economy.
So as you can see all of these policies had an impact on America’s economy and as a result, they have impacted the global economy too. Debt has little to do with it. The good news is that all of these problems can be addressed and fixed. It all depends on who the next president is going to be. This is the thing that really worries me more than anything else! If the next president will reverse many of these policies then perhaps we can turn this thing around!
You say that all financial matters are done in secret and you say that these things happen behind the scenes. You say that announcements are made at unexpected times. If this were actually the case then I can guarantee that the GCR crowd would not have this information! They would not be able to pick the date of key events like they claim they can do! Furthermore, every date they have ever given for key events has been wrong and in many cases the opposite has happened! That is a very bad track record and I have little faith in their analysis!
This is a “great report”.
Thanks so much
Betty Jean Murnion
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I am thankful you give us the correct news.
Thank you so much.
Betty jean Murnion
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yea right you might not belive this but i know its true listen to some of our presidents speaches he even talks about new world order himself dont belive me look it up you dumb bitch this country is gone to shit buddy your just to blind to see it wake up!!! you your family screwed unless you figure out what is really going on. If you really pay attention whatch the world new it even talks about it china didnt even give obama the red carpet tell me thats fake
@ Franklin Stewart,
I think you are missing the point. No one is saying that there are no problems with the economy. The U.S. debt is a big issue. Exporting our manufacturing base is another big issue. Our current president is about as clueless as they come. Relations with China and Russia need to be addressed. No one is making the claim that the dollar does not have issues or that the dollar will not be replaced as a reserve. WE ARE NOT MAKING THESE CLAIMS!!!!
What we are saying is that the prediction of the dollar crashing on September 27th is complete and utter BULL! You have not seen all the evidence we have. All you know is one side of the story. So instead of calling someone names I strongly suggest you get educated about what we are actually saying and what is really going on. Don’t assume anything and separate the facts from fiction and wild conspiracy theories!
If you cannot refrain from calling someone names on this website then your comments will be deleted. Furthermore, if the action continues you will be blocked. You can make your points without calling people names! You will actually have more credibility if you do this. Further behavior like this will not be tolerated!
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