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Is this
the ‘least’ important election ever?
The New York Times, the ‘paper of record,’ recently wrote a piece
called, “Venezuela, Once an Oil Giant, Reaches the End of an Era.”
The article, though 1,800+ words long, mentions
only in passing the country’s “gross mismanagement” of the economy, instead
placing much of the focus on the impact of U.S. sanctions. Though indeed
the U.S. sanctions were undoubtedly devastating, the Venezuelan government,
which has micro-managed its economy into oblivion, hasn’t done its country many
favors.
Widespread political corruption, seizure of businesses, and
driving out anything with a whiff of private enterprise certainly played no
small part in turning the once-wealthy nation into South America’s “Hey, at
least we’re not [fill in the blank].”
Hyperinflation, price controls, and barely symbolic minimum wage
raises: “It’s a repeat of the never-ending cycle that we’ve been entrapped for
so many years now,” says Venezuelan Christian K. Caruzo, “except now it comes
with a twist: The ongoing coronavirus pandemic that has disrupted everyone’s
lives and has greatly exacerbated those three heads of the socialist hydra.
“The added novelty,” Caruzo adds, “if it can be called that, is
that the mandatory masks visually cover your astonishment (or lack thereof)
when something you bought last week is suddenly twice as expensive.”
But, as they say…
If you can’t convince someone of their mistakes, make very
similar mistakes, but double down X1,000 and really show ‘em how it’s done.
(Or something like that.)
The Slow Venezuelization of
America
“Yesterday,” our macro maven Graham Summers pointed out, “the
U.S. PPI and Core PPI (two key metrics of inflation) recorded a 0.4% increase
in inflation for the month of September. This sounds like a very small move until
you consider that it was largely due to just one component (food inflation)
surging 1.2% over the same time period.”
Even 1.2%, to the untrained eye, doesn’t sound like a big deal
in the grand scheme, especially given what’s happening elsewhere in the world.
(Unless, of course, you’re already finding it difficult to put
food on the table… which is, of course, tragically, true for millions of
Americans.)
Whatever the case, this trend, Graham says, should be on
everyone’s radar.
“Because,” he writes, “according to the Fed’s own
research, food inflation is the
single best predictor of future inflation in the U.S. And a
1.2% increase in a single month for food prices across the board (not just one
area like meat or dairy) is a BIG deal.”
Point blank: “higher inflation is seeping into the financial
system.”
Despite what it looks like on the surface, the markets aren’t
completely asleep at the wheel.
“Which is why,” Graham points out, “gold has erupted higher
against every major currency (the $USD, the Euro, the Swiss Franc, and the
Japanese Yen).”
And why wouldn’t it? “After
all, central banks and policy makers have gone NUCLEAR in their money printing
in the last six months.”
One strangely-worded CNBC
headline from August says it all:
The
Least Important Election… Ever?
Along this vein, John
Rubino of the Dollar Collapse blog recently penned a piece on why he believes the upcoming
election is the least important election of our lifetimes.
Of course, 99.99% of those
who read it will vehemently disagree -- so much so, it could even spark another
one of those screamy TikTok videos -- but Rubino’s point was this:
No matter who gets into
office, we’ll be faced with financial turmoil on a level beyond what can
reasonably be controlled, let alone turned on its heels in four years.
“The pandemic,” he wrote,
“turbocharged a process of hyper-financialization that was already underway,
and now whoever is in charge next will have no choice but to keep bailing out
everything in sight with tens of trillions of newly created dollars.
“This,” Rubino suspects,
“will shift the pressure from bankrupt states and insolvent companies to the
currency. Prices will start to rise as the dollar falls. And the fears of
today’s voters will seem in retrospect like quaint fantasies from a simpler and
embarrassingly naïve time.”
And that’s when the true
“Venezuelization” of America could occur.
Right or wrong…
You might find the
conclusion of Rubino’s piece a tad more agreeable than the premise:
“Buy
Gold”
We can’t predict the
future. But whatever happens, you’re never without options. There are a few
time-tested ways to protect yourself from any potential fallout.
One of them, of which we
have long made the case, is gold.
Furthermore, our friends at
the Hard Assets Alliance have long held the “skeleton key” for any investor
looking for safe and simple exposure to precious metals.
All aboard the Biden Venezuela Express to
socialist disaster…
What part of this Biden admission to extortion don’t Dems get-Why do these hypocrites support him?
SIDEBAR:
A shortage of ammunition in the U.S. is set to continue following records firearms sales this year, Newsweek reports. Reasons suggested for the high arms sales figures include uncertainty amid the ongoing COVID-19 pandemic, the upcoming presidential election, and civil unrest seen in recent months across the country. “During President [Donald] Trump's administration, the number of concealed handgun permits has soared to over 19.48 million — a 34 percent increase over 2016,” said a Crime Prevention Research Center report released earlier this month. The report also said 17 states “no longer provide data on all the people who are legally carrying a concealed handgun because people in those states no longer need a permit to carry.”
Bombshell videos reveal why Biden, Obama may
'hang for treason'
According to numerous firsthand sources and witnesses, a
treasure trove of audio, video and photographic evidence exists that reveals
Obama, Clinton, Brennan and Biden to be complicit in outright treason against America.
These traitors ran a multi-billion dollar payoff and bribery
operation with Iran, staged the fake killing of Osama Bin Laden, then had the
entire Seal Team Six that carried out the Bin Laden raid executed in a staged
accident to cover up their own crimes.
See the full story and videos here.
How to Prepare for Economic
Collapse
https://www.wikihow.com/Prepare-for-Economic-Collapse
US DOLLAR COLLAPSE GUIDE
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4 comments:
Thatcher of the UK said it best-Socialism works until you run out of other people's money!
My Dad always swore something was wrong w/ hippies of the 60s-they all became teachers & indoctrinated kids into Marxist madness!
Socialist-Dems are a disease and must be stopped. trump stands in their way & we support him!
After watching 'lyin Biden' last night & the many socialist efforts he plans- we need to support Trump!
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