Financial, Economic and Social Mood Update (October 1, 2020)
Bitcoin has increased in value by an average 88.31 percent per year since July 2017. Such “digital electronic encrypted currencies” are already in the process of replacing government-issued paper & physical “fiat currencies.” Cryptocurrency exchanges (high technology companies legally chartered as banks) are already in the process of replacing commercial & investment banks. The AI (“Artificial Intelligence”) high technology behind the cryptocurrency blockchain (a digital leger of transactions which cannot be altered) is already in the process of putting entire industries out of business. Examples of this include ride-sharing companies such as Uber and Lyft putting taxicab companies out of business, and cryptocurrency exchanges putting commercial & investment banks out of business. Other businesses soon to be eliminated include real estate companies and truck driving transportation companies. Soon to be released real estate apps will unite far more potential buyers & sellers locally, regionally, nationally and even internationally. Real estate will thus be far easier to liquidate and transaction costs will drop significantly. Autonomous driving (driverless driving) will eventually eliminate the jobs of truck drivers. How significant is this? VERY – for example, the occupation of “truck driver” is the most common type of job still existing today.
Bitcoin was launched as the very first digital electronic crypto-currency in April 2010. The first Bitcoin investment fund was launched back on May 11, 2015. Since that time, the fund has gained an average 751.45 percent per annum. One US Dollar invested into Bitcoin at the beginning in April 2010 is worth almost USD $4 million today on the primary market – in other words, per the price quoted in the news, and based upon what one would pay at a crypto exchange chartered as a commercial bank or trust company (such as Gemini in New York or Kraken in California). The price of Bitcoin and other crypto-currencies on the secondary market has already gone much, much higher than on the primary market. This can be seen via the largest global online retailers, who sell anything and everything. Based upon nominal prices on the secondary market, that one US Dollar invested in Bitcoin back in April 2010 would already be worth more than USD $2 BILLION today. Far better than a silly “lottery ticket” and this is not a joke. With these facts in mind, what awaits our entire world in the very near future, as soon as 2021? Let’s take a look at the most extreme example of past currency upheavals, and of severely devalued currencies in existence today.
The worst historical hyperinflation ever seen occurred in Hungary in 1946, with an annual inflation rate of 75,624 percent – this equals a 757.24 fold increase in prices. What happened in Zimbabwe in 2008 under the corrupt rule of Robert Mugabe was the 3rd worst example in history, and what took place in the German “Weimar” Republic in 1923 was the 5th worst example in world history. Toward the end of 1923, one Billion German Reichsmarks was not enough money to buy one pound of butter. This is one main example of how fiat paper money can and will lose its purchasing power if and when a government will “print” money in the form of creating endless debt and government spending.
The other even more damaging example of what governments can and have done to currencies in the past is something which colonial powers have done to their dependent colonial possessions. In other words, the more powerful country (often the colonial “mother” or “parent” country) will devalue the currency of its colonial possession. This is done to ensure that the colonial subject will be forever “dependent” upon the colonial overlord, and to ensure that the colonial dependency must purchase finished consumer goods (manufactured items) from the mother country. The end result of this policy is that most countries in the world today use national currencies which have been severely devalued in the past. The most extreme example existing today is the Iranian Rial. One US Dollar equals 41,992 Iranian Rials. The worst colonial policies in history often “reversed” the existing currency exchange relationship between a mother country and a colonial dependency.
The emerging Global Economic Reset (GER), Global Currency Reset (GCR) and global currency Revaluation (RV) will undo all of this, and it will replace paper fiat currencies with digital electronic encrypted currencies recorded by an incorruptible “blockchain,” or permanent ledger of transactions. The already emerging high technology financial and economic world of the future will feature decentralized banking as opposed to the centralized banking system now in existence. Modern central banking can be traced back to the Bank of England in 1694 – the largest central banks today include the Federal Reserve in the USA, the European Central Bank in Frankfurt, the original Bank of England, the Bank of Japan and the Bank of Switzerland. Mainland China is already moving fast forward into the digital Chinese Yuan. Digital electronic encrypted currencies are recorded on the global blockchain, and the currencies themselves will be backed by a basket of precious metals and commodities (natural resources still in the ground), depending upon where they are domiciled.
Here is yet another informative article about the blockchain published in the Russian news: https://sputniknews.com/interviews/202009081080397944-enter-the-matrix-nations-tech-firms-race-to-deploy-blockchain-to-digitise-global-power-futurist/.
Ongoing economic casualties of the Covid 19 pandemic include United Airlines, which is cutting 16,000 jobs. This comes on top of 19,000 jobs cut at American Airlines, which also reduced its overall flight schedule by 55 percent. Airline travel in the USA is off by 85 percent compared to last year – worldwide airline travel is down by 91 percent compared to 2019. 80 million Americans have lost their jobs or had their hours cut back since the pandemic began early this year – 48 percent of the pre-pandemic labor force of 167 million people (the worldwide average job loss is about the same – one in 2 jobs). 67 percent of businesses which closed due to the pandemic have failed to reopen. More facts taken from the Drudge Report (which pulls its news items from many news outlets across the world): more than half of US households in the largest cities are struggling financially, the federal budget deficit has hit US $3 TRILLION (and this does NOT include the large entitlement programs such as Social Security, Medicare and Medicaid), and the Federal Reserve now owns almost 1/3 of all US mortgages as the traditional commercial banking system dies out.
Real US GDP has now fallen to USD $8 TRILLION per year (less than half of the level before the pandemic began). The Federal Government budget equals USD $6 TRILLION per year, or 75 percent of US GDP – yet more vivid proof that not much of the US economy even exists. The remainder of the US economy today = $2 TRILLION (8 minus 6), which is not much above the deagel.com forecast for the year 2025 for the US GDP = $1.63 TRILLION. Third world status is already a reality for the USA for all intents and purposes, and the US Dollar has already lost its post-World War 2 status as the premier “reserve currency” in the world.
