Via Greg Hunter’s USAWatchdog.com,
Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts says, “We’ve been printing massive amounts of dollars, and if you look at all the things we did to stop high speed debasement and unprecedented inflation, we’ve kind of run out of tricks…”
“…Inflation is really sneaking up…
My question:
Is basically shutting down the small businesses and the small farm economy at high speed the way they have done, is that protecting us from going up a frightening inflation? Are we at Weimar Republic kind of inflation rates?
I have been telling my subscribers to plant, plant and plant because the price of food is going to go through the roof. Another one of my questions: What’s pressing for war? Is the debt spiral up and the inflation spiral up, is that more than they can handle?”
Fitts also says the covert war going on now is about the U.S. dollar and countries who want to stop using it for trade.
If the dollar is used less, it will be worth less and maybe much less. Fitts says,
“We have tried to keep all the oil sales in the world going through the dollar. Of course, that’s put everybody back into our jurisdiction. The world doesn’t want to do that anymore. They want to be free to trade.
You are seeing more and more central banks around the world doing swap lines and direct relationships between central bank to central bank to try to do what is called de-dollarization.
So, you have the world wanting to move outside our channel, and you have the Anglo American alliance trying to protect the dollar syndicate. That is part of the economic war that is going on.”
Fitts says, “Whatever happens on the global stage, it means the days of the subsidy that kept the game inside America is over…”
“…So, how do you radically reduce the size of the financial footprint that stops inflation from going wild?
How do you take the subsidy away from the American middle class without a major civil war?…
What we did was we did the China trade, and now it’s over, and everybody in America said fine, we will go along. Well, this is the price. You have borrowed from the future and now it’s over.”
Why the sudden record gun buying in America? Fitts says,
“They understand that the rule of law is steadily being diminished. They see all sorts of behavior… that is lawless…
They see people in poverty say if anything goes for the big guys, then anything goes for us…
Part of what is happening is we are dealing with a spiritual war, and there are serious demonic and occult forces at work. There is nothing they would love more than to stop the churches and stop people from getting together and praying and inviting in the divine and angelic hope every Sunday. I am with the President. I think stopping the churches from gathering is a very, very terrible idea.”
Fitts also still thinks gold is a good investment that will “outperform most other investments in 2020.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Catherine Austin Fitts, publisher of “The Solari Report.”
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All very good points to begin to connect the dots. Most of America is taking this on a day to day basis, things aren’t too bad yet, this is fine etc., but the sudden drop is right around the corner.
My concern is with the normalcy bias that is now setting in on our present situation will suddenly get blown out of the water, if suddenly, without warning, the internet goes down. We have no idea how much of a crutch the internet was in adjusting to the current isolation, until it gets taken out and the real isolation begins to take hold. In a word; PANIC.
If the internet goes, it is no longer a virus issue and the real face of what is in store for us will become known. Think ahead, prepare for this and the shock won’t be as bad. Get connected to your community and keep your head down.
Thoughts and prayers are with you all.
Posted by Not Sure
Anyone who has been around TBP for the last few years knows that the major players on this forum have been saying exactly that – we are stealing from the future generations. And the debt cannot be repaid. Not ever.
And so here we are. Hope that everyone who bought a big screen TV on the cuff enjoyed it. Hope every asshole CEO that feathered their nests with the wealth of future generations rots in hell. Hope that every person that shirked their personal and family responsibilities pays a personal price for that bad decision. If they starve, they starve. Not my problem. But unfortunately, they will drag many innocents into the abyss with them.
Here it is again: these are the things that matter – family, hard work, education, thrift, personal integrity, and accepting responsibility for one’s actions. These thing are immutable.
Spread the word – family, hard work, thrift, education, persona integrity, and accepting personal responsibility is the way forward. Always has been. Always will be.
I totally agree! Judgement is coming I feel. There are darker days ahead.
Truer words are rarely spoken LLPOH, but our (((enemy))) makes family, thrift, education, integrity, and responsibility so much incredibly harder to do than just 10 years ago. Much more so than 20, 30 or 40 years ago. Holding our criminal politicians accountable in public will go a long way to restore respect for the law, if it is even possible now.
Fringe people like myself have long speculated about civil war. Civil war has slowly crept into the conversations of more normal people in the last year or two. Collapse of the economic system makes people hungry. Hunger makes people do desperate things. Get prepared.
“Inflation is really sneaking up ….”
hahahaha!
Only if you distracted by noise and squirrels. Once the size of the QE is realized the REAL inflation will hit.
Subtitle
“We Borrowed From The Future & Now It’s Here…”
“……and it’s broke.”
People really need to educate themselves on the basics of economics. The chance of inflation in our current situation is 0%. We are entering a deflationary period, not an inflationary one.
To understand this, it is necessary to understand what causes inflation and deflation to begin with. The lie has been perpetrated for years that inflation is caused by money printing, this is a blatant lie. The only reason people believe the lie is that they do not understand basic economics.
Inflation is not caused by money printing, it is caused by credit buying. When you make a purchase using credit, you cause inflation. The reason for this is that you are increasing the costs of the items you purchase by the amount of interest you pay. In addition, whenever you use credit to purchase, you are creating money by the act of that credit purchase.
The opposite end of that equation is what happens if you fail to make the payments for that credit purchase. When you default on debt, you destroy money. It simply disappears.
To understand the implications of this phenomena, you need to understand how leveraging effects it. Say you purchase a home for $500K and place 10% down, you have created $450K in new money, which is not part of the GDP. If you lose your job and default on that loan, you destroy that $450K and it is subtracted from the GDP.
In times of recession or depression, people begin not only to cut the amount of money being spent into existence, they also begin to destroy money by defaulting on the money they owe. This in effect causes an increase in supply of goods, and a decrease in the supply of money. That is deflation.
Some people erroneously believe this can be offset by the Fed printing more money. It cannot. The Fed loans money, it does not give it away. In order for loans to make their way into the economy, someone needs to borrow the money.
If no one borrows the money, it simply sits on the Fed’s books.
In times of inflation, people borrow money because they have faith in inflation and the greater fool theory. They have faith that even though the price of assets may be inflated far beyond their intrinsic value, that by purchasing that asset, they will make money in the long run by selling it at a higher price to a greater fool.
In times of deflation, the market is flooded with assets that people purchased, and cannot pay for. At the same time, money becomes scarce because it is being destroyed with each and every default on credit.
Once you understand how this works, you understand how ridiculous claims of inflation or hyperinflation really are.
The truth is as prices for assets drop, the value of cash increases greatly. If a year from now, that $500K house is selling for $250K, your cash has increased in value 100%.
We are entering a time when jobs and businesses are going away, we are not returning to normal . People are going to have to sell assets to survive. None of this in inflationary in any way. Use your brain to analyze what is happening, because that will be the difference between those who survive, and the victims…
Inflation is not caused by credit. Aside from war or sudden disasters, inflation of prices is caused by debasement of currency or more correctly perhaps, deflation of the value of currency by printing more of it. Credit expansion is a symptom but both credit expansion and debasement are symptoms of debasement of truth and honesty.
You do not have the beginning of a clue of what you are talking about. If you think you do, then kindly explain the mechanism by which the printing of the currency is put into circulation to cause the inflation.
If you believe inflation or hyperinflation is what is in our future, then by all means put what little wealth you have accumulated in gold or silver and watch it devalue with every other asset class. You will find out just how wrong you are.
Jdog.
As usual it’s you who doesn’t have a clue. Coin shaving and adding lead to coins came before paper Fiat. It does not require credit to circulate Fiat. The fact that it’s done that way by all but two countries on the planet is a political and religious issue to enrich the owners of the various central bank owners who are known and can be verified. Two very famous men were destroyed and their country’s pillaged for daring to print money outside of that system. They could have printed it into hyperinflationary levels had they stayed in power. They did not loan it out. They simply paid for goods with it in a closed system of captive customers. It did not require the sale of bonds as credit either.
We are entering an inflationary depression where the dollar will default but not PM’s. You are an idiot if you think gold can devalue below it true value. In war and peace it buys the same amount of bread and housing that it always did. The dollar will drop in perceived value and the MSM will call it inflation. If gold lost it’s value governments would have no incentive to steal it from people.
I’m well aware of how banks are allowed to loan “money” into existence but they cannot loan gold bullion into existence, only paper gold in the form of certificates of ownership. Anyone buying them as a store of wealth instead of rank speculation deserves to lose their savings.
So you failed to accept my challenge and answer my question. That is because you cannot. You do not know the answer. I am here to try to educate the small minority who have enough intelligence to hear what I am saying. You obviously do not. I do not care if you believe me, as you are the one who will suffer the consequences of your decisions. You will not go broke being in gold, but you will not make anything ether, if lucky, you will only lose moderately. The people who are wise enough to be in cash, and to purchase assets when they hit rock bottom will be the wealthy going forward. Of course it will be a small minority, who understand and can really see what is happening, as it should be……
j-bird
I just gave you two examples and explained it in the simplest of terms just for you and you either missed it or didn’t read my reply.
You think saving dollars and buying at the bottom are winning strategies? You don’t have a clue. The dollars will soon be worthless for one. For another, unless you have them in your mattress they aren’t your dollars anymore. To quote someone else here. “The stupid it burns”.
question 4 both of you–
if you wanted to both hide it 4 several years & preserve as much purchasing power as possible of a substantial sum of $,what would you use as your asset(s) and how would you hide it?
Tampa.
Silver is too bulky for a substantial sum so that leaves gold in small bars or coins. I say small because once the real price becomes known either on the black market or above ground markets, a large bar of say 50 oz. or $80,000.oo today’s price would be difficult to spend because it would signal that someone has big bucks hidden. 10 oz. bars take the same space and weight. Avoid Paladium and Platinum because it’s too industrial priced and an unkown to most people so it would require going to a specialist to exchange.
Even if the dollar didn’t totally collapse it would still lose value in 3 years and there is no guarantee cash will be legal or that they won’t do like they did in Nam and change it overnight and impoverish the lower classes who were saving it at home. There is talk of going to SDR’s and eventually to digital money. That would render all dollars in circulation void. The infastructure for SDR’s is in place to facilitate a sudden change over at the peon level but still allow the big players to cash out their various currencies. Smarter people than me are saying this. All I do is try to verify it and it has to pass the practicality test. Not practical to our bureaucrats but to the smart people in charge.
Ammo will be money if it goes far enough. Hard liquor. Smokes. Something will be chosen as currency.
So, SDRs will negate Gold and Silver? What are SDRs backed by? I’ll take my chances. Fiat is yesterday’s news..
Nkit.
I didn’t say that. I said the dollar will be replaced by SDR’s. Shekel Drawing Rights.
Shekel instead of Special? What was I thinking? Thanks for the heads up..
Nkit.
That’s my twisted humor showing through. It is Special drawing rights. Jim Rickards explains how it will unfold pretty well. I’m sticking to silver just because I can’t afford gold and I only want it for essentials. I won’t be around long enough to see the other side of this thing.
” and to purchase assets when they hit rock bottom ”
Ya but noone knows when that is, even the money banksters. Do you? If you have an in I’m willingt to listen.
I assume assets you mean real estate, dirt…..
hitler and ?
Red.
Napoleon. He was originally being funded by the Ziobanksters when he realized that was a losing proposition and started issuing his own money.
As an aside, I was reading some of his correspondence and found a letter where he denied being anything like the lucky genius some claimed he was. He said his success came from rehearsing and researching every likely scenario that might arise from any given direction and being prepared to move assets accordingly.
Red.
A good short read in PDF called “Napoleon vs the Old and New World Orders by Mike King” at http://www.lustforlife.org tells the story.
Flea jdog is right because we, me and you, still think gold is a store of labor, money, not currency. When all govts do not believe this. They believe in fantom digits created by central banks. This is where you and i are wrong in our belief of gold. Most sheeple dont own gold and will believe the govt because the govt tells them what is money/currency….
John.
Right you are, on both counts. The ancients knew it was easier to carry a gold coin than a bushel of barley.
One of the greatest videos people never want to understand. They will refuse to believe and understand this….
Nailed it. When you buy on credit you are paying for something in the future today and adding to its cost by the interest you pay which is inflationary because you got something to day which you could not have afforded today taking that future supply away. That supply will have to be replaced and forecasting for businesses will buy more therefore decreasing supply and future supply Lowered supply with same or increased demand is inflationary. Ask, will anyone, insecure in their jobs May2 run out and buy big items like cars? No. Most will not be buying jackshit other than basics.
By paying as you go it keeps supply and demand in current times. Only with a break in supply, or sudden higher demand will it be inflationary. Seems demand for things will falter in most all things going forward. When people are fearful they do not spend nor want credit to buy things by borrowing from their future when their future is insecure.
The govt knows this and feels comfortable printing trillions to counter the deflationary cycle. Govts fear deflation 100% more than inflation. They can easily combat inflation but they cannot make people spend money without confidence. They have a harder time creating confidence than fear….
The fiddler always gets his money. Just because he didn’t collect yesterday doesn’t mean he won’t get paid.
God created the law of Karma for people who don’t believe in God.
Instead of spending our grandchildren’s money we sold our grandchildren.
Llpoh is right. Anyone surviving whats coming will have to live by his last two lines like it or not.