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There has been a lot of talk lately about de-dollarization. As just one example, the BRICS nations recently announced they are developing a new currency. Peter Schiff recently appeared on Commodity Culture with Jessie Day to talk about the trajectory of the dollar. He said that the death blow for the dollar is coming. And when it does, people will run to gold.
There has been plenty of speculation about de-dollarization recently, but is it a real threat, or is all of the talk just hyperbole?
Peter said, “None of it is hyperbole, and all of it will come to pass.”
The only thing that’s surprising about the dollar’s reserve status is that it still has it. Despite everything we’ve done, we still have it.”
Peter said he thinks the current financial crisis that is just starting will ultimately deliver the death blow to that status.
People are still reluctant to call it a financial crisis, but that’s exactly what it is, except it’s bigger in scale and it’s going to be far more impactful than the 2008 crisis. It’s probably going to result in even more aggressive and reckless monetary and fiscal policy. And this time, it’s going to take the dollar’s reserve status down with it.”
Peter said that will send Americans’ standard of living much lower. Jessie asked Peter if he thought there is a risk of hyperinflation in the US. Peter said there is always that risk in any country that issues a fiat currency, and that risk is higher now than it’s ever been. But even if the US avoids hyperinflation such as people experienced in Zimbabwe, Peter said he thinks Americans will face very high rates of inflation for many years to come.
I mean elevated double-digit inflation and where the first digit might not be a one.”
Jessie also asked about the banking sector. Peter said that the entire sector is insolvent, and that includes the “too big to fail” banks.
Those banks would fail if the government stepped out of the way.”
Peter also pointed out that the claim that “deregulation” caused these problems is a myth.
It was excessive regulation. That is the reason that the banks got into this predicament in the first place. And of course, without the Fed holding interest rates so low for so long, they wouldn’t have even been able to have loaded up their balance sheet with all this debt.”
So, what does all this mean for gold?
There’s no question that just like there’s going to be a run on the banks, meaning people are trying to get their money out of the banks, they’re going to be running to put it into gold. No money is safe now, in the bank. Because, either your bank is going to fail and you will lose your money, or your bank won’t fail because your government bails it out and your money will lose its purchasing power. So, either way, you should withdraw your money now. But don’t stick it under your mattress because it’s going to lose purchasing power there too. You’ve got to convert it to real money. You’ve got to turn it into gold.”
Peter goes on to explain why he thinks there will be an eventual return to a gold standard.
Reprinted with permission from SchiffGold.com.
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker
