Sunday, October 25, 2020

6 very interesting facts I just saw in a video

 Here are some interesting facts referenced in the 8 minute 39 second video published 10/9/20 (https://youtu.be/5Q7UsVJ7wyY):

I didn't fact check any of these but I don't doubt any of them:

  • Since 9/19/20 the Federal Reserve has provided over $9 trillion to primary dealers.
  • 2020 YTD alone we have printed about 22% of all US Dollars issued since its inception.
  • Since the US Dollar's inception in 1913 the cumulative rate of inflation has reached 2,625% which means what cost $1 in 1913 now costs about $26.
  • 100 yrs is about the average lifespan of a global reserve currency.
  • The US Dollar is about 100 yrs old.
  • In 2020 1 in 7 small businesses have closed their doors permanently.

Does this suggest we'll continue with the current global financial system with the US Dollar as the main reserve currency, or does it add merit to the anticipation of a sea change? Maybe not from the insolvent USA? Maybe digital sovereign currency replacing paper money, that the central banks can monitor and instantaneously adjust at will? Maybe back the next reserve currency with something real, such as a precious metal(s), to instill confidence in the new currency?

Just saying.

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