tag:blogger.com,1999:blog-1752027331714385066.post7076274236539660241..comments2024-03-19T14:38:21.141-07:00Comments on Terra Forming Terra: Why we need to be wary of narratives of economic catastrophe arcleinhttp://www.blogger.com/profile/05942529252160087271noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1752027331714385066.post-86926707866283750402019-01-30T13:01:43.155-08:002019-01-30T13:01:43.155-08:00I forgot to mention, that many of the so-called do...I forgot to mention, that many of the so-called doom's dayers have been predicting a currency reset. Just so you understand what that is, it's the reissuing of a new currency to replace the old one but at a value i.e. purchasing power that is often much less than the original currency. The author did not write anything about that aspect of a replacement currency as if it would be business as usual. All prices could double or even worse like the did in the late 1970s and early 1980s, as a part of a FRB's induced recession. Remember when they FRB raised interest rates to double digits to slow down the economy, causing a recession to get off the fixed value and allow the USD to float against gold and the rest of the currencies. It was kicked off by the OPEC Oil Cartel imbargo of sales of oil to the U.S. which lasted 7 months while the U.S. negotiated a new deal, thus voiding the original Bretton Woods agreement. Hskiprobhttps://www.blogger.com/profile/17050426539773666816noreply@blogger.comtag:blogger.com,1999:blog-1752027331714385066.post-51321611602472473762019-01-30T12:28:28.878-08:002019-01-30T12:28:28.878-08:00Many are unwilling to acknowledge just how close w...Many are unwilling to acknowledge just how close we came to a catastrophic world-altering economic meltdown in 2008. That's the general analysis of Timothy Geitner, the then Secretary of the Treasury and former President of the New York Federal Reserve Bank who somehow helped, along with numerous others, scrape together the necessary pieces of the puzzle to save us. He also noted in that same speech the credit collapse was worse than the one that happened in the Great Depression which I agree with. <br /><br />What actually happened was enough people and institutions stopped paying one another because they couldn't, just like Venezuela is no longer paying their government debts nor are their Citizens able to pay most of their debts. <br /><br />The U.S. and world have doubled the amount of their total debt, both public and private, since then. <br /><br />Additionally, all fiat currencies in the history of the world have eventually reached their intrinsic value, meaning the cost of the paper it is printed on. Deductive reasoning would then conclude this will most likely happen again. Additionally, we did not fix the underlying problems that caused all the 2008 defaults, so it is easy to also conclude, there is a high probability that it will happen again to the U.S. Dollar. It's just like economists know that following every single recovery in U.S. history, a recession or depression has occurred and as such, as we get near the end of this economic recoveries, another recession will likely follow. <br /><br />Think it can not or will not happen to us again, is what is called the normalcy syndrome, a self-defined phrase; that you believe everything is guaranteed to remain normal. <br /> Hskiprobhttps://www.blogger.com/profile/17050426539773666816noreply@blogger.com