Economic Collapse has Already Started
11:21 Minutes Runtime
486,182 views
Published by Epic Economist
Published on Sep 6, 2018
Ten years after the economic shock of 2008, the global economic crisis is back with a vengeance. Currencies are collapsing in Venezuela, Argentina, Brazil, India, Turkey and other emerging markets, but because it has not really affected the United States too much yet, the mainstream media and most Americans aren't paying attention.
What most people don't understand is that economic collapse is not an event, but a process. While even many economists believe economic collapse happens swiftly, sometimes even overnight, it can take months, years even a decade for an economy to collapse completely. For example, Venezuela's economy started collapsing well over 10 years ago while Hugo Chavez was still in power, with food, medical and other shortages coming gradually over time.
When you understand that our country can only operate based on debt/credit, not physical dollars, you finally see that the USA is a huge Ponzi scheme built on nothing more that our ability to borrow money. Our status as the world reserve currency has allowed us to borrow money that we do not have.
The government says that there are 10 trillion dollars sitting in the US Banking system that we can go and easily withdrawal. How can that be true when there only exists 1.4 trillion of real money in circulation (dollars and coins) and more than one half of that is outside the US. This doesn’t include the 10s of trillions more that we owe other countries that have purchased our debt. If our creditors were to all come and ask for their money at one time there would be less than $1 dollar for every $1000 dollars owed. This is not sustainable.
There have been 440 economies based on fiat currencies in modern history…. They have all come to the same demise, COLLAPSE. All empires based on fiat currencies have ended in this way.
It is no loner a question of when our economy collapses (it is collapsing right now), but a question of how bad will it be?
Watch the video and heed it's advice.
486,182 views
Published by Epic Economist
Published on Sep 6, 2018
Ten years after the economic shock of 2008, the global economic crisis is back with a vengeance. Currencies are collapsing in Venezuela, Argentina, Brazil, India, Turkey and other emerging markets, but because it has not really affected the United States too much yet, the mainstream media and most Americans aren't paying attention.
What most people don't understand is that economic collapse is not an event, but a process. While even many economists believe economic collapse happens swiftly, sometimes even overnight, it can take months, years even a decade for an economy to collapse completely. For example, Venezuela's economy started collapsing well over 10 years ago while Hugo Chavez was still in power, with food, medical and other shortages coming gradually over time.
When you understand that our country can only operate based on debt/credit, not physical dollars, you finally see that the USA is a huge Ponzi scheme built on nothing more that our ability to borrow money. Our status as the world reserve currency has allowed us to borrow money that we do not have.
The government says that there are 10 trillion dollars sitting in the US Banking system that we can go and easily withdrawal. How can that be true when there only exists 1.4 trillion of real money in circulation (dollars and coins) and more than one half of that is outside the US. This doesn’t include the 10s of trillions more that we owe other countries that have purchased our debt. If our creditors were to all come and ask for their money at one time there would be less than $1 dollar for every $1000 dollars owed. This is not sustainable.
There have been 440 economies based on fiat currencies in modern history…. They have all come to the same demise, COLLAPSE. All empires based on fiat currencies have ended in this way.
It is no loner a question of when our economy collapses (it is collapsing right now), but a question of how bad will it be?
Watch the video and heed it's advice.