Mnuchin Says Weak Dollar Is GOOD As Dollar Continues To COLLAPSE
Josh Sigurdson talks with author and economic analyst John Sneisen about the recent revelations from US Treasury Secretary Mnuchin in Davos at the World Economic Forum where he claimed that a weak US Dollar is a good thing for America which quickly led to it falling to its 3 year low versus the Euro and sank in comparison with the Japanese Yen.
Now it’s not entirely innacurate to say that the a weak dollar is good for the United States. Temporarily in the Keynesian mindset it does bring more people to buy things in the United States. HOWEVER, (and that’s a big however) it leads to certain crisis.
We’re talking about something that will lead to massive inflation and debt. Something that will cause a dramatic amount of instability in the monetary system.
Of course all fiat currency eventually reverts to its intrinsic value of zero. It always has, it always will going back to 1024 AD in China. This time will be no different. Except… it will be far more epic as the stakes are much higher.
As countless countries swap out of the US Dollar as the world reserve currency we are seeing a lot of the Davos elite looking towards the SDR at the IMF and desperately attempting to install a centrally planned cashless society before interest rates hit below zero. As the Federal Reserve desperately attempts to push interest rates up to manipulate the economy further into temporary security, it will not be enough to sustain it and we will see a massive crash of the dollar with interest rates in negative territory.
This is why the central banking system is desperate to push into this cashless system because it secures them from any bank runs and people will then be in perfect servitude to the banking system via legal tender laws on a global basis. They will truly have their pawns.
Now it’s important to leave this article off by saying the fundamentals are off the table due to the level of manipulation in the monetary system, so there’s no saying WHEN the crash will happen, but we know it WILL indeed happen which is why we need to be prepared. It’s better to be over prepared than under prepared. Self sustainability and financial responsibility is a hallmark of freedom itself and if we don’t look towards individualism and responsibility we will find ourselves on the wrong end of the inevitable crash.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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