Loading ...Much worse. I don’t think back in the 70’s the IMF or Europe controlled the Feds ability to stabilize our own economy or pension funds by telling them they can raise interest rates or the rest of the world will go broke. Effectively as Armstrong said the Fed has become the world bank which is hurting retirement funds as well including SS.
He warned as he’s been warning the next crisis will be in bonds and pensions. Where the majority of money parked.
This will cause loss of confidence in Gov and drive all tangibles up as far as gold bugs. Gold bugs currently only at 7 %. We are only a small group 7% That will grow.
Getting out of being the reserve currency would be good for our enconomy for that reason. Bad thing corrupt wishy washy IMF wants to control it as far as reserve, That shouldn’t happen.
Problem with basket of currencies. We are the only country that hasn’t canceled our currency. Old dollars still redeemable,
How will that work in a basket where other country’s can and have canceled their currencies and started another.
Armstrong says we’ll see the signs starting in other countries first. Might start next year. Might have a rise at end of year but it will be loss of confidence that’s when all tangibles will rise.