One of my most recent video reports!
See the original article below:
Josh Sigurdson talks with author and economic analyst John Sneisen about a recent warning from the master manipulators themselves, the International Monetary Fund.
Last year, the IMF warned that 20% of US corporations were at risk of default once interest rates went up.
Well the IMF is issuing stern warnings again. This time, it regarded public debt rather than private debt. The IMF said there are great concerns regarding excessive global borrowing. They noted that with a total of 164 trillion dollars of debt (225% of global debt to GDP), the world's private and public sectors are more in debt today than they were in 2008 in the last financial crisis.
Interestingly enough we had recently done a report here at WAM breaking down the facts on how most banks are bankrupt/insolvent and their cash to deposit ratio is alarmingly minuscule. Most don't even have more than 1% of deposits covered on hand.
The IMF also added the risk of China which added 43% alone to the increase in total global debt since 2007.
Interestingly, we see the two super powers competing for world reserve currency right now attempting to be the more indebted? It almost seems that way anyways...
As China tries to prop itself up as the next example of global governance as the US dollar comes crashing down alongside the stock market, we cannot forget to blame the real culprit. Central planning. Manipulation. Quantitative easing. Fractional reserve lending. Fiat currency. Derivatives bubbles. Investor confidence with no sound fundamentals. Government.
All fiat currencies eventually revert to their true value of zero. They always have, they always will going back to 1024AD in China interestingly. The fundamentals are off the table due to the level of manipulation in the monetary system as well as in the markets, so we cannot put a date on the crash, but we know it is inevitable which is why it's so incredibly important for us to be financially responsible and self sufficient.
Responsibility is the hallmark of freedom itself and without it we simply have utter dependence and we must break free from that.
Stay tuned as we continue to cover this ever growing global issue as the cashless future is pushed on us at the IMF in the SDR global currency system.
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