This article was originally published by Michael Snyder at The Economic Collapse Blog.
EDITOR’S NOTE: I disagree with Snyder that this was unintentional and the ruling class “should have known better.” They know what they are doing. This is by design so they can introduce the digital dollar and fully control the populace. We need to stop believing the government is in place for any reason other than to control and enslave us.
I think that they actually believed that they could get away with it. I think that they were actually convinced that they could create, borrow and spend trillions upon trillions of dollars without any serious long-term consequences. But they should have known better.
The people running things are very highly “educated”, and after spending decades getting to their current positions they are supposed to be “experts” that we can trust with very difficult decisions. Unfortunately, the “experts” have put us on a path that leads to a currency collapse and financial ruin.
All throughout history, there have been many governments that have given in to the temptation to create money at an exponential rate, and it has ended badly every single time.
So our leaders should have known better.
But it is just so tempting because pumping out money like crazy always seems to work out just great at first. For example, when the Weimar Republic first started wildly creating money it created an economic boom, but we all know how that experiment turned out in the end.
This week, the mainstream media is full of talk about inflation, and many of the talking heads seem mystified that things have gotten so bad. But anyone with half a brain should have been able to see that this was coming. Just look at what has been happening to M2 since the start of the pandemic.
What we have been doing to the money supply is complete and utter lunacy, and this is inevitably going to kill the U.S. dollar eventually.
Next, I would like for you to take a look at how rapidly the Fed balance sheet has been rising. This is the sort of thing that you would expect to see in a banana republic.
I think that our leaders deceived themselves into thinking that they could get away with creating money so recklessly, but they haven’t.
Very painful inflation is here, and on Wednesday we learned that prices have been rising at the fastest pace in more than 30 years…
The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago, the most since December 1990. That compared with the 5.9% Dow Jones estimate.
On a monthly basis, the CPI increased 0.9% against the 0.6% estimate.
If inflation continues to rise at about 1 percent a month, it won’t be too long before we are well into double digits on a yearly basis.
Of course, I don’t actually put too much faith in the inflation numbers that the government gives us, because the way inflation is calculated has been changed more than two dozen times since 1980.
And every time the definition of inflation has been changed, the goal has been to make inflation appear to be lower.
According to John Williams of shadowstats.com, if inflation was still calculated the way it was back in 1980, the official rate of inflation would be close to 15 percent right now.
This is a real national crisis, and it isn’t going away any time soon.
One of the factors that is driving up the overall rate of inflation is the price of gasoline. If you can believe it, the price of gas is almost 50 percent higher than it was last year at this time…
Gasoline prices last month shot up nearly 50% from the same month a year ago, putting them at levels last seen in 2014. Grocery prices climbed 5.4%, with pork prices up 14.1% from a year ago, the biggest increase since 1990.
Prices for new vehicles jumped 9.8% in October, the largest rise since 1975, while prices for furniture and bedding leapt by the most since 1951. Prices for tires and sports equipment rose by the most since the early 1980s.
Even Joe Biden is using the term “exceedingly high” to describe the current state of gasoline prices.
Other forms of energy are also becoming a lot more expensive…
The price of electricity in October increased 6.5% from the same month a year ago while consumer expenses paid to utilities for gas went up 28%, according to numbers released Wednesday by the U.S. Bureau of Labor Statistics. Fuel oil rose 59%, and costs for propane, kerosene and firewood jumped by about 35%, the data show.
It is going to cost you a lot more money to heat your home this winter.
I hope that you are prepared for that.
Speaking of homes, they continued to shoot up in price during the third quarter…
The median price of single-family existing homes rose in nearly all — 99% — of the 183 markets tracked by the National Association of Realtors in the third quarter, with double-digit price increases seen in 78% of the markets.
If our paychecks were rising fast enough to keep up with inflation, then at least our standard of living would remain the same.
But that isn’t happening, is it?
In fact, the Labor Department’s own numbers show that real average hourly earnings are going down…
The Labor Department reported Friday that average hourly earnings increased 0.4% in October, about in line with estimates. That was the good news.
However, the department reported Wednesday that top-line inflation for the month increased 0.9%, far more than what had been expected. That was the bad news – very bad news, in fact.
That’s because it meant that all told, real average hourly earnings when accounting for inflation, actually decreased 0.5% for the month.
What this means is that our standard of living is going down.
And it is going to keep going down.
In a desperate attempt to maintain the status quo, many Americans are taking on more debt than ever before…
American households are carrying record amounts of debt as home and auto prices surge, Covid infections continue to fall and people get out their credit cards again.
Between July and September, US household debt climbed to a new record of $15.24 trillion, the Federal Reserve Bank of New York said Tuesday.
How in the world did we allow ourselves to get 15 trillion dollars in debt?
Of course many would point out that the federal government is an even worse offender. Very shortly, the U.S. national debt will cross the 29 trillion dollar mark.
As our leaders in Washington continue to engage in the greatest debt binge in world history, the U.S. dollar will steadily lose value.
This is going to deeply affect everyone and everything in our society. For instance, just check out the pain that inflation is causing for one food bank in the San Francisco area…
In the prohibitively expensive San Francisco Bay Area, the Alameda County Community Food Bank in Oakland is spending an extra $60,000 a month on food. Combined with increased demand, it is now shelling out $1 million a month to distribute 4.5 million pounds (2 million kilograms) of food, said Michael Altfest, the Oakland food bank’s director of community engagement.
Pre-pandemic, it was spending a quarter of the money for 2.5 million pounds (1.2 million kilograms) of food.
I warned you way ahead of time that this was coming, and what we have experienced so far is just the beginning.
The “experts” running the Fed and our politicians in Washington aren’t going to suddenly reverse direction.
In fact, Congress just passed another gigantic spending bill that Joe Biden desperately wanted.
Our course has been set and there is no turning back.
Our destination is economic collapse, and life in America will never, ever be the same again.
***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael Snyder and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com. In addition to my new book, I have written five other books that are available on Amazon.com including “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, “Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned) By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe. I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream, and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial, or health decisions. I encourage you to follow me on social media on Facebook and Twitter, and anyway that you can share these articles with others is a great help. During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.
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Is Snyder retarded or what? This has been planned for ages. The controllers/owners of this country (you don’t know their names) are anything but stupid. It is going just as planned by think tanks and AI. They have backups for backups and we aren’t getting out of it. Politicians are just a front doing the pre written work assigned to them. Gates, Bezos, Soros, etc. don’t run shit! They are directed by their masters. It’s just like the wizard of oz, the man behind the curtain is unknown. Saying politicians etc. are to blame because their stupid is like calling yourself stupid….
Your real enemy is the “sheeple”. The brainwashed masses with no critical thinking ability. These morons are beyond help and trying to help them can be dangerous/fatal to you. Democracy is a joke, 3 wolves and 1 sheep deciding what’s for dinner. They will drag you down with them and rat you out if you don’t comply with their self destructive wishes. Here’s a good video to ponder (10 minutes)…. take out the space in the t’s..
ht tps://www.youtube.com/watch?v=_AqoaP0aQqQ
The exact same can be said for the Village Idiots.
Very true. At best the politicians are just the putz who gets handed the bag of doo-dads. It is ALL a show put on to keep us distracted while the real power is behind the scenes stealing all they can and funnelling all wealth upwards.
They want the whole world on a digital system with satellites tracking every living thing 24/7.
What we are seeing right now is the pressure coming from having a world where the population growth is exponential (mostly in the third world) and those people are wanting more and more things. China, for example, has huge market power to hoover up world resources. This puts pressure on prices. The US consumer is competing with the Chinese, the Africans etc.
When we see refugees think of them as doing a trolley dash in a supermarket. They see the wealth of the West and they just want to grab as much of it as possible. To them, the baubles of the West come from the butt hole of the Great White God. They aren’t sure how or why the wealth is there but they see it is. And they want it.
No Western government has shown an ability to control its borders. They are all being invaded by the third world. It is just slower in some places and faster elsewhere.
What are our options?
Your real enemy is the “sheeple”. The brainwashed masses with no critical thinking ability. These morons are beyond help and trying to help them can be dangerous/fatal to you. Democracy is a joke, 3 wolves and 1 sheep deciding what’s for dinner. They will drag you down with them and rat you out if you don’t comply with their self destructive wishes. Here’s a good video to ponder (10 minutes)….
https://www.youtube.com/watch?v=_AqoaP0aQqQ
This is going as intended by the highest of powers that direct our future.
It is a step in the development of a worldwide single currency under the control of a single authority as well as an opening to force a surveiled cashless system on everyone using the new world currency.
An idea very long in the making and whose time has now come.
Correct you are, when the dollar dies it will take out all central bank currencies. The reckoning is coming because the ponzi cannot go on forever. Raise rates a few percent points and the economy implodes, the other alternative is to inflate away pushing all asset prices higher but silver and gold of course.
When the world loses faith in the dollar and all that fiat comes back from around the world it will cause inflation to the likes we have never seen and the sheeple will beg for help from our gubermint cronies and they will implement a digital currency for total control. This is when metals will truly shine even in an underground economy. Currency collapses always revert back to sound money like physical silver and gold. Get some metals for insurance while you can!
Mother of all previous bubbles. This is going to be BIG! Even the white collar class will panic when the shelves go bear….. Wally World giving out FREE electronic vax. They will soon use it against you. Amazon accepting SNAP.
Killing of the Dollar has always been a part of the Agenda, in order to continue the control of us they have to control several things, like food, water, work and MONEY! Replacing currency with digital is what they want. This is one reason they are not concerned about the HUGE deficit they have run up as they will remove all fed debt but not for citizens, and digital will become the only type of money recognized.
The government wants an electronic currency and economy so they can take a cut of every transaction.
Or shut down all transactions for those who fall our of their approval.
a wise and honorable ? man once said ….the road to hell is paved with good intentions….but if you take away the good intentions it’s just a bunch of people paving a road to hell.
?????ℳ???
a wise and honorable ? man once said ….the road to hell is paved with good intentions….but if you take away the good intentions it’s just a bunch of people paving a road to hell.
?????ℳ???
and ???? ?????? said woo-hoo ho ho
https://youtu.be/gJWdFshK-pk
The destruction of the United States (and the world’s economy) has been in motion for many decades and is now being executed.
Our “leaders” are not idiots, fools, crazy, senile, inept, or incompetent: this has ALWAYS been the plan, and our government “leaders”, both Democrats AND Republicans are part of it.
Whether our destruction is called Agenda 2030/Agenda 21, the Cloward and Piven Plan, Saul Alinsky’s Plan to destroy the U.S., etc., make no mistake, we are hated, reviled, and are nothing more than useless eaters who need to be exterminated.
They divide us, pit us one against the other, and while we are busy fighting one another, TPTB are systematically destroying us.
Lock and load, refuse the vax, and if you can’t hold it in your hand, you don’t own it.
God help us all, and please, DO NOT COMPLY!
Copyright Information: This content has been contributed …..
got it
thanks
@ Editor
You’re darned right that the destruction of the USD has been ongoing and deliberate!
Too many people in the U.S. and around the developed world are naive of the extent and reach of evil within our world. They are good people, but having lived in safety and security their whole lives, they lack the direct experience with evil and fail to see its presence.
They find it hard to imagine why anyone would want to deliberately destroy something like a way of life and an economy, or for that matter, that people willing and even eager to do such things even exist. Well, they do exist and unfortunately for humanity, some of the them are numbered amongst the world’s richest and most-powerful people. Worse yet, some of them are sociopaths and psychopaths.
The globalist oligarchs have been planning the “Great Reset” for many decades, dating back to the end of WWII and the reshuffling of the international order which followed it. Even though some of these ambitious and amoral people are Americans, they see American not as “a shining city on a hill,” as Reagan put it, but a problem to be solved, an obstacle standing in their way.
Since the fall of the USSR and the Iron Curtain in 1989-1991, the U.S. has been a super-power, and as such, her primacy stands in the way of the new world order the oligarchs seek to build. China is the rising new super-power, and America is considered yesterday’s news.
The incredible extent of the U.S. national debt, the fecklessness of the American political class, endless wars fought to inconclusive outcomes – or worse – all have been designed to weaken and ultimately hasten the day when the U.S. is no longer dominant. In order that to happen, the USD and the petrodollar regime must end.
Digital currency is not a convenience, but a thinly-disguised means of social control disguised as a convenience.
Physical tender, cash if you like, confers a degree of privacy upon financial transactions, and this our would-be overlords do not like. Nor do they like the fact that if that transaction occurs outside the banking-financial system, they don’t get their cut.
If everything is digital, everything must pass through their combine, and they get paid – and paid big.
There’s more: Digital currency will effectively end whatever privacy still remains in transacting commerce between buyer and seller. Privacy is a cornerstone of individual liberty, and the NWO doesn’t believe in individual liberty – except for themselves, that is!
Finally, and perhaps worst of all, digital currency is a potent means of social control, the access to which can be a potent carrot-and-stick for shaping behavior. Do as the regime wishes, and your digital banking and other accounts are left alone, but dissent and misbehave, and your credit rating and access to your funds is restricted, or in extremis, cut off entirely.
This dystopian nightmare is what Klaus Schwab and his confederates at the WEF have in store for humanity. Only there will be no escape from it by waking up in the morning.
@ Editor
You’re darned right that the destruction of the USD has been ongoing and deliberate!
Too many people in the U.S. and around the developed world are naive of the extent and reach of evil within our world. They are good people, but having lived in safety and security their whole lives, they lack the direct experience with evil and fail to see its presence.
They find it hard to imagine why anyone would want to deliberately destroy something like a way of life and an economy, or for that matter, that people willing and even eager to do such things even exist. Well, they do exist and unfortunately for humanity, some of the them are numbered amongst the world’s richest and most-powerful people. Worse yet, some of them are sociopaths and psychopaths.
The globalist oligarchs have been planning the “Great Reset” for many decades, dating back to the end of WWII and the reshuffling of the international order which followed it. Even though some of these ambitious and amoral people are Americans, they see America not as “a shining city on a hill,” as Reagan put it, but a problem to be solved, an obstacle standing in their way.
Since the fall of the USSR and the Iron Curtain in 1989-1991, the U.S. has been a super-power, and as such, her primacy stands in the way of the new world order the oligarchs seek to build. China is the rising new super-power, and America is considered yesterday’s news.
The incredible extent of the U.S. national debt, the fecklessness of the American political class, endless wars fought to inconclusive outcomes – or worse – all have been designed to weaken and ultimately hasten the day when the U.S. is no longer dominant. In order that to happen, the USD and the petrodollar regime must end.
Digital currency is not a convenience, but a thinly-disguised means of social control disguised as a convenience.
Physical tender, cash if you like, confers a degree of privacy upon financial transactions, and this our would-be overlords do not like. Nor do they like the fact that if that transaction occurs outside the banking-financial system, they don’t get their cut.
If everything is digital, everything must pass through their combine, and they get paid – and paid big.
There’s more: Digital currency will effectively end whatever privacy still remains in transacting commerce between buyer and seller. Privacy is a cornerstone of individual liberty, and the NWO doesn’t believe in individual liberty – except for themselves, that is!
Finally, and perhaps worst of all, digital currency is a potent means of social control, the access to which can be a potent carrot-and-stick for shaping behavior. Do as the regime wishes, and your digital banking and other accounts are left alone, but dissent and misbehave, and your credit rating and access to your funds is restricted, or in extremis, cut off entirely.
This dystopian nightmare is what Klaus Schwab and his confederates at the WEF have in store for humanity. Only there will be no escape from it by waking up in the morning.
The U.S. government is the only superweapon the American people really have.
Soros, the Rothschilds, Schwab’s neo-Nazi World Economic Forum… these are all powerful non-governmental organizations that qualify as fiefdoms of political power nonetheless.
No state does not mean freedom, only popular disempowerment against powerful, organized trans-national non-state actors.
OMG, what are the ugly rich going to do without their precious dollars? KISS MY ASS.