If one looks at the current paper money system and its negative social and social-political effects, the question must arise: where are the protests by the supporters and protectors of social justice? Why don’t we hear calls to protest from politicians and social commentators, from the heads of social welfare agencies and leading religious leaders, who all promote the general welfare as their mission?
Presumably, the answer is that many have only a weak understanding of the role of money in an economy with a division of labor, and for that reason, the consequences of today’s paper money system are being widely overlooked.
The current system of fractional reserve banking and central banking stands in stark opposition to a market economy monetary regime in which the market participants could decide themselves, without state pressure or coercion, what money they want to use, and in which it would not be possible for anyone to expand the money supply because they simply choose to do so.
Source: Mises Institute
Few economic analysts truly understand the underlying fundamentals of the global economy and their impact on the workings of the world. Fewer still are willing to share that knowledge with the general public and advise others on how to shield themselves against a destabilization of the system as we have come to know it.
Bud Conrad of Casey Research is one of those who does, and in the interview below with Future Money Trends he discusses the end result of the manipulations currently being executed by our government, central banks, and financial institutions.
Despite what we’ve be told is the case, they have fixed absolutely nothing. Our national debt has grown, millions have already been impoverished and millions more will be soon. The next crisis is imminent.
The complex of potential future problems will be based on the same problems that caused the 2008 downturn… too much government debt, too much private debt and a collapse of that debt when it can’t be paid, creating a new economic crisis.
Look at the big long-term future of our economic situation… I have predicted, that in my lifetime, the US government issue of currency can’t be trusted.
It will implode and will issue a new currency to replace the dollar. That will destroy an awful lot of debts.
It will give the government a new leg, and if they can base it on something like gold it will, both, be very bullish for gold and create new confidence. If they create a new paper system like the old paper system it’ll die just like a Banana republic [like] Argentina about every ten years later.
With that… I am saying in my lifetime we’ll see the demise of the dollar and certainly before that we’ll see gold at $10,000 an ounce.
This critical information for those who want to understand what’s happening behind the scenes and how those schemes will affect the future of our economic and monetary systems: