Did you think the Covid pandemic that we had never heard of 18 months ago could have possibly produced a necessary "covid passport" that some are saying will be needed to buy and sell? It accelerated the Mark of the Beast and has totally conditioned people to do as the government says...regardless of what you think.
In the same way the next financial crisis could bring about a new world currency that might have crypto attached to it. We are already at zero interest rates for the first time in human history so what happens if the supply lines fail, massive inflation heats up, the FED raises interest rates and the US Treasury can't afford to pay interest on it's $30 trillion of debt?
It would be a melt down. America and our US Dollar are definitely standing in the way of what the Globalists want to do.
On August 15, 1971, Richard Nixon announced he was "closing the gold window," thus ending the U.S. dollar's convertibility to gold. This ended the post-World War II Bretton Woods monetary system where the world operated on a gold-backed U.S. dollar with other world currencies pegged to the dollar. It also began the new era of fiat currency and sowed the seeds of the next great financial crisis.
Fiat currency is not backed by commodities such as gold or silver. Its only value comes from the public's willingness to accept it as a means of payment. Since Nixon's announcement, all the major governments of the world have used nothing but fiat currencies. Prior to 1971, this had never occurred in human history.
The Danger of Fiat Currency
Why was Nixon's announcement such a significant event? Fiat currencies are dangerous. They eliminate government financial discipline and accountability. When nothing backs a currency, the government can print unlimited currency units. The more currency units that exist, the less valuable they all become.
If you earn and save in fiat currency, you lose purchasing power over time. The government is essentially stealing from you via inflation. This means government spending is no longer restrained by collected tax revenue or fiscal responsibility.
For example, during World War II, the United States launched a massive war bond campaign to raise the money necessary for funding the war. They did so because U.S. currency was backed by gold and silver. They couldn't simply "print" the dollars needed to fund the war.
But that's no longer true. Since 1971, the U.S. has funded the world's largest standing military, fought two wars in Iraq, a war in Afghanistan, and countless other conflicts. In doing so, they never once launched a war bond campaign. They simply printed the dollars they needed.
Since 1971, the U.S. government has been on a spending binge. In 1971, the U.S. national debt was $398 billion. Today, it's $27.8 trillion. That's an almost 70-fold increase in debt in the past 50 years. To fund this massive rise in debt, they've run the printing press.
This means the value of a dollar has decreased significantly in the past 50 years. In 1971, an ounce of gold was $35. Today, an ounce of gold is $1,781. That's a 98% decline in the dollar's purchasing power.
And before you attribute the rise in national debt to the declining purchasing power of the dollar, take a look at the debt relative to national income. In 1971, the U.S. debt to GDP ratio was 34%. Today, it's 127%. That's an almost four-fold increase in real terms, and it's a debt level many economists believe is unsustainable.
As bad as this is, the United States isn't alone. In a world awash in fiat currency, debt to GDP ratios are terrible all over the globe. Japan's debt to GDP ratio is 256%. Canada's is 116%, and the United Kingdom's is 107%.
The Eurozone alone is home to a number of troubled nations - Greece (181%), Portugal (132%), Italy (155%), France (115%), etc. Compounding the problem for these nations is they owe their debt in a fiat currency they can't print. The European Central Bank controls the euro, and that puts all these nations at potential risk of default if they can't make their debt payments.
A default by any of those nations will ripple throughout the European banking system which holds billions of euros worth of government bonds. If European banks become insolvent, financial contagion will spread throughout the world and plunge the world into a financial crisis far worse than the Great Recession, one with the potential to be worse than the Great Depression itself.
The Central Bank Conundrum
The U.S. Federal Reserve, the European Central Bank, and central bankers throughout the world are well aware of this potential scenario. It's their worst nightmare. More than anything else, they fear an out-of-control deflationary spiral akin to the Great Depression.
This is why central banks engaged in unprecedented measures in 2020 to prop up financial markets as the COVID-19 crisis unfolded. But now they face a conundrum. If they keep these policies in place, we'll have runaway inflation. But if they reverse their "easy money" policies, they risk triggering the very financial crisis they're so eager to prevent.
Wouldn't it be something to work your entire life and save/invest $2 million and now you believe that retirement is finally here only to find out that your $2 million doesn't buy you a loaf of bread?
It's happened before and it WILL happen again. We have no idea when but we hope that it happens after the rapture of the church. Maybe that's why Jesus advised us to lay up our treasures in heaven?
