May 16th, 2012

Economic Alert: If You’re Not Worried Yet…You Should Be

white shark kayak3

By Brandon Smith

For the past four years I have been covering the progression of the global economic crisis with an emphasis on the debilitating effects it has had on the American financial system.  Only once before have I ever issued an economic alert, and this was at the onset of the very first credit downgrade in U.S. history by S&P.  I do not take the word “alert” lightly.  Since 2008 we have seen a cycle of events that have severely weakened our country’s foundation, but each event has then been followed by a lull, sometimes 4 to 6 months at a stretch, which seems to disarm the public, drawing them back into apathy and complacency.  The calm moments before each passing storm give Americans a false sense of hope that our capsized fiscal vessel will somehow right itself if we just hold on a little longer…

I don’t have to tell most people within the Liberty Movement that this is not going to happen.  Unfortunately, there are many out there who do not share our awareness of the situation.   Debt implosions and currency devaluation NEVER simply “fade away”; they are always followed by extreme social and political strife that tends to sully the doorsteps of almost every individual and family.  The notion that we can coast through such a tempest unscathed is an insane idea, filled with a dangerous potential for sour regrets.

There are some people who also believe that the private Federal Reserve with the Treasury in tow has the ability to prolong the worst symptoms of the collapse indefinitely, or at least, until they have long since kicked the bucket and don’t have to worry about it anymore (the ‘pay-it forward to our grandkids’ crowd) .  I can say with 100% certainty that most of us will live to see the climax of the breakdown, and that this breakdown is about to enter a more precarious state before the end of this year.  You can only stretch a sun-boiled rubber band so far before it snaps completely, and America’s financial elasticity has long been melted away.

A pummeling hailstorm of news items and international developments have made the first half of 2012 almost impossible to track and analyze.  The frequency at which negative information has surfaced is almost dizzying.  However, a pattern and a recognizable motion are beginning to take shape, and, I believe, a loose timeline is beginning to form.

At the end of January, I covered the incredible nosedive of the Baltic Dry Index (a measure of global shipping rates that signals a fall in global demand) to historic lows.  I pointed out the tendency of stocks and the general economy to crash around 8 months (sometimes a little longer) after the BDI makes such a dramatic downturn.  Mainstream analysts, of course, attributed the fall to an “overproduction of ships”, which is the same exact excuse they used when the BDI collapsed back in 2008 just before the derivatives bubble burst.  It would seem that the cable TV talking heads were wrong yet again, as the international market facade quickly evaporates right in line with the BDI’s almost prophetic knack for calling an economic derailment in advance.

Here are some of the most important reasons why every American should be prepared for much harder days, especially before the end of 2012:

The European Union Is Officially Dead In The Water

Stick a fork in er’, the EU is done!  We are talking about full scale dismantlement, likely followed by a reformation of core nations and multiple collapse scenarios of peripheral countries.  The writing is all over the wall in the wake of the latest election results in Greece and France, where, as alternative researchers have been predicting for some time, the battle between the government spending crowd and proponents of austerity has reached a fever pitch.

The Greeks and the French are royally pissed over draconian cuts in public programs and the destruction of pensions which have been a mainstay of their economies for quite some time.  They are also furious over being sold off like collateral to the IMF and World Bank.  Rightly so.  Like the American taxpayer, the taxpayers of floundering EU nations are wrongly being held responsible for the financial mismanagement and fraud of their governments and global banks which have remained untouched and unpunished for their trespasses.  The problem is, the voters of both countries are signing on to the socialist/quasi-communist bandwagon in response.  In Greece, the Left Coalition Party, a splinter group of the traditional communist party, has now taken a primary position of power:

In France, voters have elected socialist Francois Hollande (a Bilderberg attendee), whose latest promise is to spend France into recovery through his “pro-growth agenda”:

I have no doubt that the elections of the EU are as manipulated by elitists as they are here in the U.S., and I’m sure false paradigms abound.  Have Europeans forgotten that it was overt government spending that set them on the path to calamity in the first place?  Or, are they like Americans; just desperate for any change in the ranks of leadership?  One would think that they would take note of the problems here in our country and realize that electing a socialist to replace another socialist is no way out of economic hardship.

Former officials like Nicolas Sarkozy may have claimed to be distanced from the socialist ideal, but, as with all globalist puppets, their actions did not match their rhetoric, and they have always supported policies of centralization and big government.  The French and the Greeks have essentially replaced closet collectivists with outspoken collectivists, and will see NO relief from the crisis in the Euro-zone as a result of the political reordering.  In fact, the stage has now been set for a volatile chain of dominos.  Germany, which is the only economy left holding the EU together, has been unyielding on austerity cuts.  A conflict between France and Germany is now inevitable.  Neither will compromise their position, and I can see no other eventual result than a reexamination and perhaps abandonment of the EU charter.

How does this affect America?  Being that international banks and corporations have forced our countries into interdependency through the engineered chicanery of globalization, any collapse in Europe is going to strike hard around the world, but the worst will hit the U.S. and China.  Which is probably why China is disengaging trade away from the U.S. and the EU and focusing on other developing nations:

If you thought the Greek rollercoaster was a pain in the neck for investment markets, just wait until the whole of the EU is in a shambles!

Spain is next in line, with a 25% official unemployment rate and a massive black market economy forming.  As I have been saying for years now, when governments disrupt the financial survival of the people, they WILL form their own alternatives, including black markets and barter markets.  It is about survival.  The Spanish government does not care much for these alternatives, though, and has now banned cash transactions over 2500 euros in a futile attempt to squeeze taxes out of the populace through digitally tracked payment methods:

Another major concern for Americans is the fact that Europeans are inching towards an abandonment of the dollar.  Francois Hollande has openly called for an end to the dollar’s world reserve status, and with a majority backing of the French people, he could easily make this happen, at least where France is concerned.  All it takes is for a few key countries to publically and completely drop the Greenback and the dollar’s reputation as a safe haven investment will be quashed.  This could very well happen before 2012 is over.

QE3 Is The End

Here is the bottom line; U.S. growth is a theater of shadows.  There has been no progress, no recovery, only the misrepresentation of statistics.  Millions of Americans have fallen off unemployment rolls because they have been jobless for too long, which lowers the unemployment rate, but does not change the fact that they are still without work.  Durable goods orders are dropping like an avalanche.  U.S. credit has been lowered yet again by ratings agency Egan-Jones.  With China making bilateral trade deals in numerous countries on the condition that the dollar be dropped as the primary purchasing mechanism, and with the EU turning to economic mulch, the currency’s safety is nonexistent.  Traditional investors who cling to the idea that a falling Euro spells dollar strength will be sorely disappointed when the currency is suddenly being rejected in international currency markets.

The Federal Reserve has already stated that any signs of “relapse” into recession (the recession that we never left) will be met with all options on the table, including QE3:

I believe that QE3 will probably be announced this year (due in large part to trauma from Europe), and, that this will trigger a mass movement by foreign nations to drop the dollar as the world reserve.  QE3 will be the straw that broke the camel.  How exactly this will play out socially and politically, I do not know (I could take a good guess though).  But, the technical results are predictable.  The Fed will respond to the lack of treasury purchases by ramping up fiat printing in order to cover the ever increasing costs of the government machine.  The Greenback will immediately lose a large portion of its value, at least in terms of imported goods, causing inflation in prices.  Oil and energy prices will skyrocket if OPEC follows suit (which they will, though the Saudis may still honor dollars for a time).  Doing any traditional business will become nearly impossible, and price inflation will dominate the lives and the minds of average unprepared citizens.

The amount of time that it will take for these difficulties to unfold is also not clear.  We are operating in uncharted territory, and dealing with a collapse scenario on a truly planetary scale.  My best advice is to assume that the avalanche will move fast.

While markets in our country have seen only mild disruptions so far this year, their solidity is predicated on a host of props and costume pieces, any one of which could pull the rug out from under America’s suspension of disbelief if it strays but a little from the illusion.  As long as the dollar holds, stocks can be infused with bailout juice through major banks.  So can major companies and even desperate state governments on the verge of bankruptcy.  The Dow will remain relatively friendly, and day traders and the public will remain happy.  As soon as the dollar comes into question, all bets are off…

Does This Mean Doom, Or Just Another Bad Day?

The real beginning of today’s collapse is tied to the events of 2008.  The pace of it has been deceptive, but also, in a way, it is a gift.  Over the past four years, I have personally seen the awakening of thousands of people that may have never had the chance if the system had gone into full spectrum breakdown right away.  The question now is, how much longer can the U.S. wobble along on one wheel?  In my view, and from the evidence I see in markets at the moment, not much longer.

It is hard to set aside any expectations that the next leg down will be easy to digest for the populace.  The reality of our predicament is starting to hit home.  All the tax return checks have been spent.  The credit cards have been maxed.  The new cars have been sold off and traded in for ghetto-mobiles.  The good jobs have been replaced with Taco Bell slavery.  A trip to see The Avengers is now the family vacation.  And, the distractions of reality TV just aren’t buttering our bread anymore.  It’s the little things at first that really signal the financial mood of a society, as well as reveal the more vital and looming issues just over the horizon.

All indicators suggest that this year will be unlike any other before.  In 2008, we saw the first trigger events for the collapse.  In 2008/2009, we saw the creation of the bailout culture, setting the stage for inflation and dollar disintegration.  In 2010, we saw the first bilateral trade deal cutting out the dollar between China and Russia, which is now the template for trade deals all over the globe.  In 2011, we saw the first downgrade of the U.S. credit rating and the crisis in the EU become epidemic.  In 2012, I see not just another difficulty to add to the mountain, but a culmination of all these detriments to produce something entirely new; a vast and subversive realignment forcing many of us to take a more aggressive stance in the fight for an economically and socially free America.

Financial disasters have always been a convenient catalyst for a host of even more frightening obstacles, including civil unrest, and blatant totalitarianism.  This is the cusp.  It is one of those moments that people of later generations read about in awe, and sometimes horror.  The “doom” is not in the event, but in the response.  What we make of the days approaching determines the darkness that they cast upon the future.  It is a test.  It is not something to be dreaded.  It is something to be seized upon, and dealt with, as great men and women before us have done.  At the very least, we know that it is coming.  That, in itself, could well seal our success…

You can contact Brandon Smith

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Brandon has been proven very correct and prescient with his writings over the last two years.  Much of what he predicted has come to pass, such as the ongoing decoupling from the dollar by China and Russia, and the now forming ASEAN trading block.   Oath Keepers, it is now far past time for you to get your bullets, beans, and band-aids in order – your preparedness.  Do you have food storage?   Do you have at least a month worth of the canned and box goods you use all the time anyway?   If not, why not?  Start buying some extra each time you go to the store.  Build up that extra supply till you have a week worth, then two, then three, and so on.

Do you have a stack of 50 lb bags of rice and 50lb bags of beans?  That is super-cheap food insurance that no one, not one of you, has any excuse for not having.  A 50 lb bag of rice or beans can be had for under $22.00.  Want to buy it even cheaper, go to a Mormon food cannery (where you can also buy powdered milk, wheat, and bulk salt and sugar).   Even if you are on a tight budget, get some bags of rice and beans.   Together, they make a meal, and they are simple to prepare. All you need is water and heat, and a pot.   Surely you should store more complete foods, and a variety of other foods, but those bags of rice and beans will help keep you and yours alive.   You have no reason to not have them, so get them.

In the economic collapses of Wiemar Germany, Hungary, and Austria in the 1920s, people would have been thrilled to have 50 lbs of rice, beans, wheat, anything at all to eat.  City people took suit-cases full of the family silver and jewelry out to the country and traded them for one bag of grain or potatoes.   They traded grand pianos for a bit of food.

We need to face the fact that the dollar cannot be saved, and it will die, just like the German Mark in the 20s, and just like the Argentinian Peso in 2001.  In both examples, people saw the value of their paper currencies drop by 75% in just a couple of days when the rest of the world stopped accepting their currency and began to dump it.  Once the rest of the world stops taking dollars, and they instead dump the dollar on the market, you will see the same thing happen here.   When that happens, many people, especially those on a fixed income, will not be able to afford food even if it is still available.   And then, it is also very possible that the food will not be available at any price.  This happened in Germany, Hungary, and Austria in the 1920s.  The farmers no longer wanted to send their produce into the cities for worthless Marks, and instead held onto their crops and consumed them or traded among themselves.  The cities were left with no food, and that is when you saw desperate city people hauling their family treasures out to the country to trade for a bag of anything edible.

That is what is coming here.   It is time to get our houses in order, and then get our neighborhoods and local communities prepared.   Put at least half of your effort on getting yourself and your family prepared with food, water purification and water storage, medical supplies, and fuel you will need when the stores are empty.   Build up to three months of canned and boxed goods, and also build up your bulk, cheap foods like wheat, rice, beans, powdered milk, sugar, salt, oils, and all you will need to cook with those basics.  Grow a garden.  Keep chickens.  Get ready to feed yourself.  A year supply of basics should be your goal, but anything is better than what most Americans have now – which is a week’s worth at most.    Start now, and build it up.   And make sure you have a rifle and ammo to feed it too.   Even a dirt-cheap Mosin Nagant or an old .303 Enfield is better than no rifle.  Buy what you can afford.  Make sure every adult has one.  And then get something better when you can.  Pick up a copy of Boston’s Gun Bible and follow his excellent advice (he has recommended firearms for every budget, from dirt poor to middle-class, to well off).     Get your means of self defense now and then get some training.  An Appleseed Shoot is a good start.

Please take this seriously, and take another good look at our recommended priorities from our Operation Sleeping Giant (which will be getting a much needed facelift and expansion soon).  They are listed in order of priority and necessity.  Food comes first.  Security a close second.  Then sound money and independent local economies.   Then working for state independence and sovereignty.  They are all important, but that is our recommended order of priority:

  1. Food, fuel, emergency medical, and communications security and independence (and general preparedness) – as individuals, within local veterans organization chapters, neighborhood mutual aid societies, churches, co-ops, farmers markets, and at the town, county and state levels. As a start, follow the advice on (you don’t need to be LDS to learn from their experience in food storage and preparedness, or to use their canning facilities). Grow gardens. Support your local farmers. Fight any regulation that would limit your ability to grow your own food. Why is food first? Because it is the hardest to improvise, and it is a great weakness of modern man, who, with few exceptions, no longer stores up for bad times. Ditto for fuel and medical supplies. And when it comes to communications, we must have in place an alternative system, such as HAM Radio, so if/when the internet comes down (or is taken down) we can still communicate (for example, if each VFW Hall had a HAM Radio, and portable radios too, that would provide a state-wide network).
  2. Physical security and Independence – again as individuals, neighborhoods, veterans organization chapters, towns, counties and states, to include forming neighborhood watches; mutual aid associations; a volunteer sheriff’s posse (staffed by self-supplied volunteers but under direct command of the sheriff); and county militias established by county ordinances but staffed by self-supplied and self-funded volunteers (as is done in volunteer fire departments all over this nation); state defense forces under command of the governor; and ultimately, a true state militia, established by state statute, capable of “repelling invasions” (using the research and model bills of Dr. Edwin Vieira). As for training, a great first step for the newbie or for those who are rusty would be to attend the Project Appleseed rifle instruction program, offered for a pittance in every state by traveling volunteer instructors. See for details.
  3. Economic security and independence – as individuals and communities, including barter networks, use of silver and gold as real money, and sound money bills at the county and state levels (as Utah just passed). This would also include each of us having a “liberty trade” – something you can do even in a very localized, back-to-basics economy, and we must support and build resilient local economies that can weather hard times. We must have an alternative to the fiat money system in place when it collapses, so we can resist what the globalists have in store for us next. See for details.
  4. State sovereignty and nullification of unconstitutional federal laws and actions. Veterans must support only sheriffs, local and state legislators, and governors who have the knowledge, courage, and integrity to keep their oaths. To vote for an oath breaker, is to become an oath breaker. We must enforce the bounds of the Constitution and defend the powers reserved to the states and to the people (see the Tenth Amendment) by supporting state sovereignty resolutions and nullification of unconstitutional laws. See Likewise, we must defend the inherit power of the jury to judge the law as well as the facts and to acquit even in the face of the law (jury nullification). See And eventually we must kick the bums out of DC and replace them with citizen legislators, as GOOOH recommends. See

Remember, what we do now, in whatever time we have left, will be critical. We must focus on solutions, not just diagnoses of the problems. And the solution is to restore our Republic from the bottom up, strengthening our communities at the neighborhood, town, county and state levels as we go. None of us has a crystal ball. We don’t know exactly at what point the collapse will come. But when it comes we will certainly be in a stronger position than we are now, if we start from the bottom up, rather than putting all of our focus on Washington DC, as people tend to do.

Maybe we will only have time to get our neighborhoods ready. Maybe we will be fortunate enough to be squared away at the county level when the collapse comes. Or maybe we will be fortunate enough to have time to get it done all the way up to the state level. Certainly, we can work on all levels at the same time, but it is best to focus most of our energy on ourselves and our local communities, and work our way up from there. And we can do it in both the private and public sphere. We shouldn’t put all our eggs in any one basket. Let’s build up public institutions, but also while doing so, let’s take private action as individuals, family, friends, and neighbors.

Once again, we should be doing all of the above anyway, because that’s what it means to be a free people in free, sovereign states, in a constitutional republic, but it is especially crucial as we face the prospects of a coming economic collapse. Time is short, so please help us spread the message to all veterans and all Americans, and turn the tide.   Become a leader in your community.   Take personal responsibility for waking up veterans in your community, and also your neighbors, members of your church, etc.  and above all, make sure you and your family are squared away, because if you are unprepared, you will not be much help to anyone else.

For the Republic,

Stewart Rhodes

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29 Responses to “Economic Alert: If You’re Not Worried Yet…You Should Be”

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  1. 1
    Austrian Economics is Color Blind Says:


    On your point about the Fed’s likely response to a lack of Treasury purchases, Peter Schiff said the same. He predicts a bond market crash:

    Don’t believe the hype — the U.S economy is not recovering, it’s getting sicker.

    Peter Schiff: Ben Bernanke is Public Enemy No. 1

    As for your point on globalization,

    Friend, it’s not global trade that’s the problem, but fiat money. Fiat money allows the central banks to transfer wealth to themselves – THAT’S why they have so much power.

    Massive imports of Chinese products is not a problem, but paying for them in continually devaluing pieces of paper is. China SHOULD stop using the dollar, as should all countries including us.

    Why? Because it’s so easy to increase its supply. And that goes for every other country’s fiat money.

    Transactions that are recorded in terms of fiat money (it doesn’t matter whether or not its the US dollar) do not represent real market prices. The prices in terms of all fiat money is an illusion.

    What we need to know is what are prices in terms of commodity money such as silver and gold, the supply of which cannot be inflated so easily.

    This goes for global transactions that are made in fiat money; THIS is the aspect of globalization that’s the problem. The fiat money part of globalization screws everything up. There’s nothing wrong with global trade, itself.

    Ron Paul made a good point when discussing this issue in 1988:

    Classic Ron Paul – 1988 Campaign Interview (part 2)

    - Begin excerpt -


    If elected President, how would you handle the trade debt?

    (Ron Paul):

    We wouldn’t worry a whole lot about it; We’d have sound money. And when you have sound money and free trade, you don’t worry about trade deficits.

    Do you know what the trade deficit is between New York and Texas? Nobody knows, and nobody cares; If we don’t have enough money in Texas, we have to quit buying.

    That’s what would happen in the world if you had a sound monetary system – a gold standard, where people couldn’t print money out of thin air.

    The only time these trade deficits mean something is when you’re on an inflated paper money system like we are today; and then they mean something.

    So if you have a gold standard, sound money, and free market, you don’t even keep the records; If you spend too much money, and you come up short, you’ve got to go back to work and earn some money before you can buy things from Japan.

    - End excerpt -

    He goes on to talk about how, on a gold standard, you wouldn’t have to worry about the rates at which the US and Japanese printed their fiat currencies because you would price things in terms of ounces of gold (and of course, you would use actual, physical gold in your transactions).

    The markets can be manipulated fairly easily, it seems, by simply altering the supply of one fiat currency versus another. This is why I am of the view that no one really knows what the real value is of one good verses another. The price system is an absolute mess.

    The sooner we are able to price things in terms of a sound currency, the better.

    You’re shooting yourself in the foot when you push for “sustainability” rather than free trade. There is a place for huge, and even foreign, companies in our economy as long as they aren’t benefiting from government protections.

    If someone is so efficient at producing something that many people want to buy from them, then that company just increased the standard of living for those who buy from them. And if that company raises prices high enough (so called “gouging”, which is their right), then that will invite competitors which will lower the price.

    Please consider watching the following videos:

    Defending the Undefendable (Chapter 23: The Importer) by Walter Block

    Anti-Trust and Monopoly (with Ron Paul)

  2. 2
    Billy Moschella, Jr. Says:

    Excellent article. Things seem destined to fall apart, but out of the ashes we will build a new world. There is a lot more to this story, angles that few are following. One of the most important is that of suppressed technologies that will change the future energy paradigm. Low Energy Nuclear Reaction, (what was once dubbed ‘Cold Fusion’) is so close to hitting it’s incredible. Visit and check the work of Dr. Andrea Rossi. There are quite a few others, as well, including Blacklight Power and Brillouin Energy. All that we have known about our current 5-cent energy sources, (oil, coal, even large-scale nuclear power), may be about to fade away into the pages of history. There is hope, but we are going to need to go through a major period of transition before we get there…

  3. 3
    Alaska_Rod Says:

    As fas as a FireArm, look into the CMP. They have M1 Garand’s at good prices, and they are Combat-Proven. You can order AMMO from CMP too. Wish All “Good-Luck!!

  4. 4
    Paula Tuttle Says:

    We’ve been listening to the “Drake” interviews on, YouTube and Wolf-Spirit Radio for the past month, and I undertand “Drake” is/was an early member of OathKeepers. Just wondering why I haven’t seen anything about this man’s information on OathKeepers? I believe if you have information which validates or debunks the information coming from “Drake”, it would be a public service for you to discuss it here. Thank you. Member of Oath Keepers: Paula & Bill Tuttle

  5. 5
    Elias Alias Says:


    A lot of people read here. Oath Keepers has a responsibility to render only provable [or properly couched philosophical] articles.

    I have only listened to about ten minutes of Drake. If you know of any written transcripts giving names, dates, and places, with sources, then by all means contact me. Sans the proof for what he’s saying, Oath Keepers is not interested in helping him fan the flames of unfounded paranoia. I need proof please. The world is already inducing enormous levels of fear, anger, confusion, and paranoia. Oath Keepers must walk a fine line between supposition and provable fact. We do keep abreast of emerging patterns and make those patterns available to our readers, but if you note carefully when you read this site’s content you’ll find that we can back up what we publish here. I am never going to publish articles based on “a trusted anonymous friend”.

    I am interested in articles which bring with them the proof of their theses. The scant bits I’ve heard of Drake broadcasts suggests to me that Drake does not offer any tangible, verifiable proof for what he says. Drake seems to me to be using a scenario which he enhances by dancing around the peripheries of what is going on in our country today. He intimates that very real “possibilities” are actually “probabilities”, but offers no substantial proof to back his claim. Oath Keepers does not publish articles by Drake, or by Steve Quayle for that matter, because we cannot verify or source their articles’ content.

    But again I say – I’ve only listened to a few minutes of Drake, so if you can enlighten me, I’m open to check out your supportive material. Does Drake ever “write”, or does he only speak in videos? If you have anything by him in writing, please send my way. Thank you.

    Elias Alias

  6. 6
    Bennett Says:

    You cant have Democracy & Freedom on the way up; Socialism on the way down! It just dont work that way, sorry.

    Like a famous Philosopher once said “ehh, whats the use. Let ‘em enjoy their chains.”

    You CANT SAVE THE WORLD. If you ONLY save yourself, your family, consider yourself a true Hero/Patriot/Christian … others WILL follow.

  7. 7
    James C. Ferris Says:

    How do we prepare for Martial Law? I believe we will get that in the next few months because Obama is get ready to do it. Right now 68% of the people think we should do away with the congress and only 12% want to keep it and it does not respond to the people at all.It is time to [edit by Elias Alias] take back our country as Obama and clinton are planing to take [edit: our guns] away and then we will be dead in the water, it is not just the government we have a problem with but the communists and the Muslims that both want to take over the world and our so-called-president is both a communist and a Muslim.

  8. 8
    John Says:

    I read about 100 pages of global financial news outside the main stream media and have seen this coming for quite some time. Cashed out my 401k 3 years ago for PM’s and have more than tripled my return (even though my wife thought I had lost it). I also began prepping at this point (and she thinks to herself “here he goes again”). Today we are positioned for whatever happens and now my wife doesn’t think me so nutty!
    It’s not too late to start preparing. You can still get good buys on bulk items at Costco and the likes.

  9. 9
    Dave Says:

    Things are going to get nasty. I feel sorry for hard working Americans that just have not taken what’s going on seriously. Food,guns and ammo are the most important things to have right now and people better stock up while ya can. If you wait until things get crazy then decide to stock up,, you might be dead in the water, literally!

  10. 10
    Austrian Economics is Color Blind Says:

    If any Marxists are reading this, I want to share something with them.

    In the following video, Peter Schiff explains, among other things, that America unjustly benefits at the expense of other countries because it is able tp print the world’s reserve currency.

    The thing us Austrian Economists complain about with regard to the loss of the value of our money when the Fed prints money, is the same basic thing that is happening to other countries who use our fiat money.

    We benefit more in America because we’re the first to use the new printed money. In this way, America transfers wealth from other countries to us. There’s a name for this fiat-money-enabled transfer of wealth: the Cantillon Effect.

    The reason it’s unjust is because all we had to do is print money to get more wealth; The newly printed money didn’t represent more wealth – just more units of currency. This is why Peter Schiff was able to say that the Housing Market was based on phony numbers.

    We suffer here in America when new money is printed, but other countries suffer more.

    In a sound money system, Cantillon Effects only happen when miners are able to get precious metals out of the ground, and people have more time to anticipate the increase in its supply; so you don’t get system-wide crashes like you do under either a fiat money system or a system of private bank fractional reserve lending (which is why I make a point to say that actual, physical silver and gold need to be circulating – not bank notes).

    Marxists, as you watch this, keep in mind that fiat money is the reason why America is benefitting at the expense of other countries, NOT because of our supposedly free market (which we haven’t had for a hundred years):

    Why the Meltdown Should Have Surprised No One | Peter Schiff

    Fiat money explains Roman, British, and American imperialism, as well, Marxists. Please look into this Austrian Economics.

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