Bluwolf, PIR, Lynette Zang and more Tuesday PM 10-27-2020
.Emailed to Recaps:
Tuesday early afternoon - From Bluwolf
Time for change is just around our corner. I can hear the wolf's cry. Oh he is so near.
Thank you Lord.
Courtesy of Dinar Guru
Jeff ...This is what I think the chain of events will be...the borrowing law has to get done first. Then my opinion is I think they will change the rate...they haven't even started creating the 2020 budget because the rate hasn't changed yet...I don't think they will complete the borrowing law until very close to around November 21st. I have my eyes right now on around the second half of November...
Emailed to Recaps:
Tuesday early afternoon - From Bluwolf
Time for change is just around our corner. I can hear the wolf's cry. Oh he is so near.
Thank you Lord.
Courtesy of Dinar Guru
Jeff ...This is what I think the chain of events will be...the borrowing law has to get done first. Then my opinion is I think they will change the rate...they haven't even started creating the 2020 budget because the rate hasn't changed yet...I don't think they will complete the borrowing law until very close to around November 21st. I have my eyes right now on around the second half of November...
Gold, Stocks, or Real Estate? This Data Can't Be Unseen
Mike Maloney: Premiered 6 hours ago
In today's video, you'll see some stunning data that compares the relative performance of stocks, real estate and gold. "With everything that is going on in the world right now, I can't imagine the anxiety I would feel if I was just in stocks and Real Estate right now."
Lynette Zang
HEADLINE NEWS: CREDIT SCORES RISE, TECH's INFLUENCE ON MARKETS AND GOOGLE's MONOPOLY
Streamed live 83 minutes ago
Patriot intel Report
PIR 10 27 20
There is still a potential for a vote on a stimulus bill by the end of the week….
Back up site: http://www.patriotintelreport.com
Jim Willie, Lynette Zang, and David Hunter "The Reset, Gold, Silver and more"
.Jim Willie EXPECTED DAY! - Global Crisis Reset Has Begun and Continues
Oct 21, 2020
JIM WILLIE EXPECTED DAY! Global Crisis Came - BOMBSHELL INTERVIEW Jim Willie:
Reset Has Begun (Now The US Must Do These Two Things AND Get 10,000 Tons Of Gold)
Jim Willie - Global Crisis Reset Has Begun and Continues The global crisis has started and continues.
How long will we continue? What will happen to the policies of the countries?
Jim Willie EXPECTED DAY! - Global Crisis Reset Has Begun and Continues
Oct 21, 2020
JIM WILLIE EXPECTED DAY! Global Crisis Came - BOMBSHELL INTERVIEW Jim Willie:
Reset Has Begun (Now The US Must Do These Two Things AND Get 10,000 Tons Of Gold)
Jim Willie - Global Crisis Reset Has Begun and Continues The global crisis has started and continues.
How long will we continue? What will happen to the policies of the countries?
Q&A WITH LYNETTE ZANG
Oct 23, 2020
Viewer Submitted Questions:
Ace 1 – What do you think about crypto as a safe Haven? 0:55
Leliu 5thElement - Do we have a Quantum Financial System in place for the GCR? 2:35
White Stone - I’d like to know Lynette’s opinion on Ripple? There are many articles about it becoming bigger as a tech vehicle or international money transfers? 3:03
Marat Azatian – What do you think might be better to sell first, gold or silver? What might be more difficult to buy back when the price goes down? Is silver only for barterability? Or payback loan too? 3:51
Skoda La Skoda - How does the economy pick up without more lending... paying down debt removes money suppler? 8:36
Linda Adrid - How do you get gold, silver, crypto into the system once we are all digital? 11:02
Bob Lazar – How will you use XRP? 12:44
David Hunter: 1970s Style Inflation Will Set Gold on Fire
Oct 23, 2020
Tom welcomes back experienced investment professional David Hunter of Contrarian Macro Advisors. David discusses the origins of the current secular bull market and how we are now nearing the end stages.
Markets move from excess to excess, and in the last stages, they can go parabolic.
He expects a deflationary bust and a new debt liquidation cycle to begin in the first half of 2021. The economy needs a stimulus package, and the soon to be announced GDP numbers will likely show an unprecedented annualized 30% decline.
Congress doesn't share the same level of urgency as many Americans who no longer have jobs. Parts of the economy, like housing and technology, are doing well, but other sectors like the hospitality industry, have been hit hard.
The damage to many small businesses has been massive and unprecedented. David uses the term "bust" to differentiate from a recession or depression.
What is coming will be more dramatic than 2008-2009 but won't be drawn out like a recession.
US Banks are reasonably healthy, but European, Asian, and Canadian banks will be more affected. The coming deflationary downturn will be widespread and catch most people by surprise.
Prices will be hit across the board, but the declines won't be long-lasting due to the amount of injected liquidity. He expects the Fed's balance sheet to balloon above twenty trillion by the end of next year.
The government's initial reaction will likely be too slow, and it will take a couple of years to get back to positive inflation. Inflation will begin to take off around 2025 to 2026 when the economy overheats due to the excess money creation.
We will then enter a period worse than the 1970s as double-digit inflation kicks in, which will take most people by surprise.
He discusses the outlook for the housing markets and mortgage rates over the next couple of years, along with some targets for oil, gold, silver, GDX, GDXJ, SIL, and SILJ. For the remainder of the year, the dollar will remain under pressure, but next year there will likely be a flight to safety, which will bid the dollar higher, possibly much higher.
CW and Pimpy Discuss the RV, QFS, GCR, Silver and Gold- More with Nicholas Veniamin
.CW and Pimpy Discuss RV, QFS, GCR, Silver & Gold - More with Nicholas Veniamin
Pimpy’s Investment Chat: Oct 21, 2020
About minute 5:30
Pimpy: Charlie, are you hearing anything about the dinar?
Charlie: I was just talking to somebody about the dinar, the zim and the dong. 2 of my clients have obscene amounts and they come to me to transport them to China where they are being monetized with the Chinese elders……
Charlie: I am aware that the Chinese elders are monetizing. . . .Where, when and how much I do not know. When these currencies are monetized they have to sign an NDA. You cannot talk about what rate you got. Also when it is monetized it goes straight into your Quantum account.
Charlie: I hear that everybody in the world already has a quantum account if they currently have any form of banking .
CW and Pimpy Discuss RV, QFS, GCR, Silver & Gold - More with Nicholas Veniamin
Pimpy’s Investment Chat: Oct 21, 2020
About minute 5:30
Pimpy: Charlie, are you hearing anything about the dinar?
Charlie: I was just talking to somebody about the dinar, the zim and the dong. 2 of my clients have obscene amounts and they come to me to transport them to China where they are being monetized with the Chinese elders……
Charlie: I am aware that the Chinese elders are monetizing. . . .Where, when and how much I do not know. When these currencies are monetized they have to sign an NDA. You cannot talk about what rate you got. Also when it is monetized it goes straight into your Quantum account.
Charlie: I hear that everybody in the world already has a quantum account if they currently have any form of banking .
Pimpy : I cover a lot of subjects and mony of them seem to now be overlapping and pointing to something happening in November. I did some videos about a theory I had of a plan and the direction I think Trump is taking . I received a lot of this information from other people mixed in some parts from myself . But there is definitely something huge happening with our monetary systems everywhere.
The Plan to End it ALL https://www.youtube.com/watch?v=KhR6g1uu4hQ&t=11s
The Plan to End it ALL - Part 2 https://www.youtube.com/watch?v=tFGO5nGgDMU
Please listen to the entire video for news on the QFS, security, technology, health, cures the elections…..and much more….
https://youtu.be/caADpu2BBko?t=4
The World’s Gold and Silver Coin Production vs. Money Creation
.The World’s Gold and Silver Coin Production vs. Money Creation
By Jenna Ross October 15, 2020
Global Gold & Silver Coin Production vs. Money Creation
Note: Data has been updated to correct a previous calculation error pertaining to Japanese Yen money supply.
Both precious metals and cash serve as safe haven assets, intended to limit losses during market turmoil. However, while modern currencies can be printed by central governments, precious metals derive value from their scarcity.
In this infographic from Texas Precious Metals, we compare the value of the world’s gold and silver coin production to global money creation.
Total Production Per Person, 2019
We calculated the value of global currency issuance in 2019 as well as precious metal coins minted, and divided by the global population to get total production per person.
The World’s Gold and Silver Coin Production vs. Money Creation
By Jenna Ross October 15, 2020
Global Gold & Silver Coin Production vs. Money Creation
Note: Data has been updated to correct a previous calculation error pertaining to Japanese Yen money supply.
Both precious metals and cash serve as safe haven assets, intended to limit losses during market turmoil. However, while modern currencies can be printed by central governments, precious metals derive value from their scarcity.
In this infographic from Texas Precious Metals, we compare the value of the world’s gold and silver coin production to global money creation.
Total Production Per Person, 2019
We calculated the value of global currency issuance in 2019 as well as precious metal coins minted, and divided by the global population to get total production per person.
Throughout, global money supply is a proxy based on the 5 largest reserve currencies: the U.S. dollar, Euro, Japanese Yen, Sterling Pound, and Chinese Renminbi.
2019 Production Ounces Dollar Value Dollar Value Per Person
Global Gold Coins 7,204,982 $10.9B $1.42
Global Silver Coins 97,900,000 $1.8B $0.23
Global Money Supply $4.3T $556.33
All numbers are in USD according to exchange rates as of December 31 2019. Gold and silver values are based on the 2019 year close price of $1,510.60 and $17.90 respectively.
The value of new global money supply was 390 times higher than the value of gold coins minted, and 2,400 times higher than silver coins minted.
Put another way, for each ounce of minted gold coin, the global money supply increased by more than $593,000.
Change in Annual Production, 2019 vs. 2010
Compared to the start of the decade, here’s how annual production levels have changed:
2010 2019 % change
Global Silver Coins (oz) 95,900, 000 97,900,000 2.1%
Global Gold Coins (oz) 6,298,331 7,204,982 14.4%
Global Money Supply (USD) $2,936,296,692,440 $4,268,993,639,926 45.4%
Annual increases to global money supply have increased by half, far outpacing the change in the world’s gold and silver coin production.
Even more recently, how has production changed during the COVID-19 pandemic?
The COVID-19 Effect
In response to the global pandemic, central banks have enacted numerous measures to help support economies—including issuing new currency.
The global money supply increased by more than $6.8 trillion in the first half of 2020. In fact, the value of printed currency was 930 times higher than the value of minted gold coins over the same timeframe.
Investors may want to consider which asset is more vulnerable to inflation as they look to protect their portfolios.
Want to learn more? See the U.S. version of this graphic.
https://www.visualcapitalist.com/worlds-gold-and-silver-coin-production/
![Worlds-Gold-and-Silver-Coin-Production-1[1].jpg](https://images.squarespace-cdn.com/content/v1/5d5222a44813620001d89582/1603370096020-OK3JNHDT9NFX1TH6QJV2/Worlds-Gold-and-Silver-Coin-Production-1%5B1%5D.jpg)
"The Fed has merged into the Treasury" Articles and Video 10-21-2020
(Note- This is an older article with a very good explanation in it …..The updated video is posted below)
We Did It – Trump Ends The Fed As We Know It
By John Michael Chambers | March 29, 2020
Those of us who are awake have been talking about this day for many, many years. I have written about it in my articles and in my book, “Trump and the Resurrection of America” as well having spoken about it on scores of media platforms including my own show, “News Behind The News“.
In, fact my friend and associate, Economist Dr. Kirk Elliott and I have dedicated weekly program titled the Global Financial Reset, or GFR for the past year, where each week we discuss this from many perspectives.
You can get up to speed there. We and others were right and now that day has finally arrived.
(Note- This is an older article with a very good explanation in it …..The updated video is posted below)
We Did It – Trump Ends The Fed As We Know It
By John Michael Chambers | March 29, 2020
Those of us who are awake have been talking about this day for many, many years. I have written about it in my articles and in my book, “Trump and the Resurrection of America” as well having spoken about it on scores of media platforms including my own show, “News Behind The News“.
In, fact my friend and associate, Economist Dr. Kirk Elliott and I have dedicated weekly program titled the Global Financial Reset, or GFR for the past year, where each week we discuss this from many perspectives.
You can get up to speed there. We and others were right and now that day has finally arrived.
The Restructure Has Begun
Cue post 3904 dated March 27, 2020 stated that “The Patriots Are Now In Control of the Federal Reserve System” and indeed we are! This is part of the overall Global Financials Reset but is NOT a reset of the currency itself. That comes later. The restructure has begun.
President Trump has brought the Fed actions into the treasury. Here it is, H.R. 748 CARE ACT. Bang! Zoom! The Fed and the Treasury have now merged. It’s the end of the Fed as we know it!
Here’s a commentary from the X 22 Report. Economist, Dr. Kirk Elliott discuss the beginning steps of the nationalization of the Fed.
This move essentially merges the Fed and Treasury into one organization. So, meet your new Fed Chairman, Donald J. Trump.
Ha! Take that you globalists banksters! For all intents and purposes, the Fed was just bankrupted.
I was talking with Economist Dr. Kirk Elliott, nominated for two Trump committee positions, who basically stated that since this is occurring right now in real time and to date with no official announcement yet from Washington, this is what we know thus far.
The Fed (by previous mandate), was only able to buy official government securities and were autonomous to the White House. With the new arrangement the Fed was just neutered.
The Treasury department will now determine which markets / segments need capital (could be stocks, municipals, specific industries, even corporate debt—doesn’t appear there is a restriction). The Treasury department gets to tell the Fed to print money and how much. All the FED does is print that much money. No decision making or authoritative control. A third party (Blackrock) executes the trades that the treasury department dictates. This gets everything out of the hands of the FED except for the printing of money.
In the Bloomberg opinion article published by Yahoo yesterday, “The Fed’s Cure Risks Being Worse Than the Disease“, we have learned a few things. According to this article, the Fed will finance a special purpose vehicle (SPV), to allow them to buy commercial paper, asset-backed securities, corporate bonds and bond ETFs in the secondary market. The Fed will finance SPV (special purpose vehicles). The Treasury, and NOT the Fed, will buy all the securities to back stop the loans. The Fed is basically being nationalized.
The Fed is providing the money to do it. Blackrock does the trades. The Fed merges with treasury. The CB is basically being taken over.
Ah yes, the Corona crisis. Never let a crisis go to waste. Nothing will stop us now. This is phase one of the Central Bank take down of the system. Don’t forget President has been lining up gold bugs to man these areas, with people like Judy Shelton for example.
So what’s next as part of this reset? The restoration of sound money and new policies on global trade.
The US Treasury will now own the secured assets and interest on our $22 trillion of Federal debt and the Fed will be the one who owes all of that $22 trillion.
This may take a few months to transition.
So the Fed has been reduced to a debt saddled private bank who for a period of time will simply process transactions like a wall street brokerage firm for small transaction fees, good luck with that business model.
Meanwhile the US Treasury will hold the collateral on that debt not the Fed and that makes the debt an asset to us. In essence, the Treasury is sort of raiding the Fed right now and of course this is legal, using their own tools against them as the President has done all along during the past nearly four years now. It took us 107 years to turn this around. Thank God it has begun.
Summary
We just restructured the Federal Reserve System. Basically the Federal Reserve will buy out the U.S. debt to the tune of over 2 trillion per month; making the U.S. debt-free by around the 2020 election. Then the Federal Reserve will possibly file for bankruptcy and be gone, along with their privately owned IRS. Possibly no more income tax. No more credit as a debt based monetary system. This will be replaced with perhaps as a first step, a revalued currency back by gold as a series of steps towards a new Quantum Financial System.
Read Full Articles here: https://johnmichaelchambers.com/we-did-it-trump-ends-the-fed-as-we-know-it/
(Note: the First Video in this series from last week appears to be missing………)
(Reposted) The Great Reset vs. The Global Financial Reset
Dr. Kirk Elliott, Phd & Feature Guest James Grundvig
Making Sense of the Madness: Premiered Oct 17, 2020
New Monetary System, Silver, Gold, Nesara/Gesara and the GFR 10-21-20020
.Mike Maloney
How Long Until the New Monetary System? Will It Be Gold?
Premiered Oct 17, 2020
Longtime viewers have noted that Mike has spoken for years of an upcoming ‘emergency meeting of the G20 countries about the reserve status of the US dollar’, and would like to know how much longer Mike thinks it will be before this meeting takes place.
Join Mike and Jeff Clark in today’s video as they explore some potential scenarios, and whether gold will be involved in a new world monetary system.
Mike Maloney
How Long Until the New Monetary System? Will It Be Gold?
Premiered Oct 17, 2020
Longtime viewers have noted that Mike has spoken for years of an upcoming ‘emergency meeting of the G20 countries about the reserve status of the US dollar’, and would like to know how much longer Mike thinks it will be before this meeting takes place.
Join Mike and Jeff Clark in today’s video as they explore some potential scenarios, and whether gold will be involved in a new world monetary system.
Mike Maloney
GET PREPARED FOR A NEW SYSTEM BASED ON GOLD & SILVER
Premiered Oct 15, 2020
In today's must-watch update: “This will create a global economic convulsion like the world has never seen, there will be a wealth transfer and everyone will participate - you do not have a choice.
Your only choice is: Are you going to have the wealth transferred toward you…or away from you. It’s all up to you.”
Bix Weir:
Word Wednesday w/ Paige! (NESARA & GESARA)
Oct 21, 2020
This week Paige and I talk about the "Reemergence" of NESARA & GESARA and will they EVER WORK?!
The Great Reset vs. The Global Financial Reset -Dr. Kirk Elliott, Phd & Feature Guest James Grundvig
Making Sense of the Madness: Premiered Oct 17, 2020
Jim Willie, Jim Rogers and The Dinar Investor Saturday 10-17-2020
.Jim Willie "Silver/Gold/GCR/Recession"
Currency365: Oct 17, 2020
My source Maxwell informed me there is an ongoing meeting every week hosted by the Euro Central Bank.
This is basically a “Financial Reset” forum and they are trying to iron out all the different details having to do with the monetary system that is coming up. And, the energy and technology system that is about to be introduced.
Agreements have been made toward a proposed equilibrium price. Back in May the silver equilibrium price was decided on at $400.00 US dollars per ounce. With a gold price at $10,000.00.
Since then, during the weekly meetings they have increased this. The new goal is $700.00 for silver IS dollar per ounce and gold of $15,000.00 per ounce.
Jim Willie "Silver/Gold/GCR/Recession"
Currency365: Oct 17, 2020
My source Maxwell informed me there is an ongoing meeting every week hosted by the Euro Central Bank.
This is basically a “Financial Reset” forum and they are trying to iron out all the different details having to do with the monetary system that is coming up. And, the energy and technology system that is about to be introduced.
Agreements have been made toward a proposed equilibrium price. Back in May the silver equilibrium price was decided on at $400.00 US dollars per ounce. With a gold price at $10,000.00.
Since then, during the weekly meetings they have increased this. The new goal is $700.00 for silver US dollar per ounce and gold of $15,000.00 per ounce.
Jim Rogers "Digital Currency/Gold/Silver/USD/Reset"
Currency365: Oct 17, 2020
(10/17) "BIG BANG" THIS WEEKEND
Dinar Investor: Oct 17, 2020
https://www.youtube.com/watch?v=LZPVfbnL8so
Banks brace for “Big Bang” on 80 Trillion on swaps: https://www.bloomberg.com/news/articles/2020-10-15/banks-brace-for-big-bang-switch-on-80-trillion-worth-of-swaps
IMF Monetary Renegotiation and a "Reset" Simon Dixon and Life, Growth Academy
.Emergency Broadcast - IMF calls for Bretton Woods Monetary Renegotiation As Predicted
Simon Dixon: Streamed live 3 hours ago
Simon Dixon (co-founder of BnkToTheFuture.com and author of Bank To The Future Protect Your Future Before Governments Go Bust), holds an emergency broadcast as news just released about the IMF calling for Bretton Woods Monetary Renegotiation.
This is exactly what Simon Dixon has been predicting all along.
Emergency Broadcast - IMF calls for Bretton Woods Monetary Renegotiation As Predicted
Simon Dixon: Streamed live 3 hours ago
Simon Dixon (co-founder of BnkToTheFuture.com and author of Bank To The Future Protect Your Future Before Governments Go Bust), holds an emergency broadcast as news just released about the IMF calling for Bretton Woods Monetary Renegotiation.
This is exactly what Simon Dixon has been predicting all along.
The link to the IMF video which Simon Dixon discusses is here: https://www.imf.org/external/mmedia/view.aspx?vid=6200738336001
The Bretton Woods Monetary System (1944 - 1971) Explained in One Minute
After World War 2, it was clear the world needed a new financial system and as such, 44 countries sent delegates to Bretton Woods, New Hampshire to work on just that. The Bretton Woods system lasted from 1944 to 1971, when Nixon ended it and thereby put the final nail in the coffin of not just the Bretton Woods monetary system but also to gold's monetary role.
Mass Gold Repatriations by Central Banks- A Great Reset
Life, Growth Academy: Oct 15, 2020
This video explores the gold repatriations that have taken place over the last 10 years by Central Banks globally. Now, in 2020, we face a great reset.
SRU, PIR and Lynette Zang Friday 10-16-2020
.This Gold Bull Market In Unlike Anything We've Seen, Failing Fiat Currency, Inflation, Newfound Gold
Oct 16, 2020
Today our guest is Dr. Quinton Hennigh the director of http://https://newfoundgold.ca/ He has spent over 3 decades in the gold mining sector and is a self-proclaimed "gold guy" and with all the crazy money printing eventually we'll all be gold guys/girls anyway.
Dr. Hennigh is bullish on gold and lay's out a compelling case for the gold bull market continuing and asks do you really want to live in a world where gold is $5,000 OZ because that would be a very dark world, He noted if gold prices reached $5,000/OZ and silver prices hit $200/OZ producer prices would probably be closer to $5,000 and $200 due to the full-on currency collapse.
This Gold Bull Market In Unlike Anything We've Seen, Failing Fiat Currency, Inflation, Newfound Gold
Silver Report Uncut: Oct 16, 2020
Today our guest is Dr. Quinton Hennigh the director of http://https://newfoundgold.ca/ He has spent over 3 decades in the gold mining sector and is a self-proclaimed "gold guy" and with all the crazy money printing eventually we'll all be gold guys/girls anyway.
Dr. Hennigh is bullish on gold and lay's out a compelling case for the gold bull market continuing and asks do you really want to live in a world where gold is $5,000 OZ because that would be a very dark world, He noted if gold prices reached $5,000/OZ and silver prices hit $200/OZ producer prices would probably be closer to $5,000 and $200 due to the full-on currency collapse.
He eludes to the unravelling we have been witnessing in our money supply and we discuss the psychological effects of inflation as he suggests a great point which is the fear of inflation is more powerful than bite.
Newfound gold had it's IPO (TSX-V: NFG OTC: NFGFF) around 6 months ago and has been taking off since day one they also just had a pretty significant discovery which has helped push the value up.
The money printing has reached extremes and it's unlikely to stop anytime soon the worse problem is people are beginning to worry and prepare for inflation.
Gold and Silver bullion dealers have seen sparse inventory and the recent softness in prices has escalated that process so the verdict is in, people are beginning to turn to gold. There's a lot more I left out so stay tuned.
Patriot Intel Report
PIR 10 16 20
Will we see big economic changes before the election? I believe we will.
Back up site: http://www.patriotintelreport.com
Bix Weir, PIR and Santa Surfing Thursday Afternoon 10-15-2020
.Bix Weir
ALERT! Silver Position Limits Arrive After 10 Years...REALLY?!
Oct 15, 2020
For 10 years we watched the CFTC & COMEX stand back and ALLOW the Silver price suppression until FINALLY the DOJ came in and slapped JPM on the wrist and asked them to stop.
WHERE'S THE CFTC & COMEX "Slap on the Wrist?"
The battles to free silver from manipulation continue!
Bix Weir
ALERT! Silver Position Limits Arrive After 10 Years...REALLY?!
Oct 15, 2020
For 10 years we watched the CFTC & COMEX stand back and ALLOW the Silver price suppression until FINALLY the DOJ came in and slapped JPM on the wrist and asked them to stop.
WHERE'S THE CFTC & COMEX "Slap on the Wrist?"
The battles to free silver from manipulation continue!
Santa Surfing
Angel Anon Updates! Get Stocked up! Internet MAY go down! Get ready please!
Oct.15, 2020
Just got word that this is a good time to get stocked up. We are in the middle of the 10 days of darkness.
HUGE news is supposed to come out and we have been waiting for this day for a long time.
While we know people have been arrested and GITMOED/ dealt with, the sleepy masses refuse to believe us.
When Ancient Greece Experienced Their Own ‘2020’…
.When Ancient Greece Experienced Their Own ‘2020’…
Notes From The Field By Simon Black Sovereign Man.com
October 12, 2020 Bahia Beach, Puerto Rico
For the powerful city-state of Athens in ancient Greece, the year 430 BC was one of the most tumultuous and dramatic in its history. Prior to 430 BC, Athens had been at the pinnacle of stability and power for decades. But in the course of that single year, the city was invaded by Sparta at the outbreak of the Peloponnesian War; Athenian officials essentially impeached their leader, Pericles, and put him on trial; and a deadly plague killed off up to 20% of the population.
In short, for ancient Athenians, 430 BC probably felt like 2020 does for us.
But despite all the hardship, Athens still managed to prevail. And that was in no small part due to the government’s enormous treasury surplus.
When Ancient Greece Experienced Their Own ‘2020’…
Notes From The Field By Simon Black Sovereign Man.com
October 12, 2020 Bahia Beach, Puerto Rico
For the powerful city-state of Athens in ancient Greece, the year 430 BC was one of the most tumultuous and dramatic in its history. Prior to 430 BC, Athens had been at the pinnacle of stability and power for decades. But in the course of that single year, the city was invaded by Sparta at the outbreak of the Peloponnesian War; Athenian officials essentially impeached their leader, Pericles, and put him on trial; and a deadly plague killed off up to 20% of the population.
In short, for ancient Athenians, 430 BC probably felt like 2020 does for us.
But despite all the hardship, Athens still managed to prevail. And that was in no small part due to the government’s enormous treasury surplus.
Historical records from that era show that Athens had 9,700 talents of cash reserves in its treasury. Now, a ‘talent’ was an ancient unit of measurement for gold and silver which was equal to roughly 26 kilograms.
Given the city-state’s population in the 5th century BC, that works out to be nearly $25,000 (in today’s money) for every single Athenian citizen at the time.
Bottom line, ancient Athens had plenty of cash tucked away for a rainy day. So when the mother of all storms came, they had the savings to survive.
History shows that such fiscal responsibility is EXTREMELY unusual. Most countries and governments tend to increase their spending and decrease their savings when they reach the heights of their power.
They believe that their power and wealth will last forever. So they start racking up huge debts and deficits in a belief that the future will look exactly like the present.
This is a completely irresponsible practice, but it’s incredibly common. And we see it everywhere today.
2020 has obviously been an inconceivable year… and it’s most likely going to become even crazier before it’s over.
But even before 2020, most of the ‘wealthiest’ nations in the world were posting huge budget deficits at a time when everything was still normal and OK.
I wrote about this extensively over the past few years, pointing out that, if the US government was losing $1 trillion per year during an economic boom, how bad would the results be during troubled times?
Well, we have our answer.
Over the past six months alone, the US federal debt has increased by more than $3.5 trillion. Total federal debt now stands at more than $27 trillion-- more than $80,000 for every man, woman, and child in the Land of the Free.
So while ancient Athens met its crisis with a surplus of nearly $25,000 per citizen, the US has a deficit of $80,000 per citizen.
And remember-- the entire size of the US economy is $19.5 trillion according to the federal government’s latest data.
So the debt is now a whopping 138% of GDP. That smashes the previous record of 118% set during World War II.
And of course the figure gets worse every year. In a good year, the economy grows by 2% to 3%. But the national debt has been growing at more than twice that rate.
None of this takes into account other unfunded liabilities-- like the fact that Social Security’s trust funds will be fully depleted within the next 10 years. Replenishing them will cost tens of trillions more.
This is clearly not sustainable. But any sense of fiscal prudence has been thrown out the window because of a virus.
There are vast factions of scientists, reporters, and politicians who still want to shut businesses down, and then send everyone free money that the government finances by going deeper into debt.
The Federal Reserve has been very supportive of this idea.
In order to facilitate this bonanza of free money, the Fed has printed trillions of dollars over the past six months and slashed interest rates back down to zero.
They’ve also committed to keeping rates low for years to come, and just last week they warned of ‘tragic’ consequences to the economy if the government doesn’t hand out trillions of dollars more in free money (and go deeper into debt in the process).
Who knew it was so easy to be prosperous? Ancient Athenians worked hard, saved money, and set aside an enormous surplus for a rainy day.
These days apparently you just have to print money and go into debt in order to prosper.
This is a huge reason why I believe that gold still has long-term potential, just as it did back in ancient Greece.
Gold has enormous value in times of uncertainty… and we’re definitely living through that now.
Who’s going to win the election? What impact will that have on the economy and public finances? Will a subsequent outbreak of Covid (or a new virus in the future) cause a stock market panic? Will there be more rioting and chaos in the streets?
These questions barely scratch the surface of what we don’t know. But it’s clear there are a lot of high-impact risks on the table.
Gold has traditionally been a great insurance policy against that sort of extreme uncertainty.
But even more importantly, it’s a safe haven during times of appalling fiscal irresponsibility. And that’s precisely what we have now.
They’re going to vastly expand the debt and print money for years to come. They’ve already told us as much.
And that’s what makes gold such an attractive, long-term asset.
Short-term, the gold price is anyone’s guess. Gold has already had an incredible run this year, and it’s possible we might see a price decline. No one knows.
But if you’re thinking about the world long-term, it’s definitely worth considering gold as part of a robust Plan B.
To your freedom and prosperity Simon Black, Founder, SovereignMan.com
https://www.sovereignman.com/trends/when-ancient-greece-experienced-their-own-2020-29077/