26 min listen
This Coming Financial Crisis Is Different: The Fed Has More Tools to Take Your Money - George Gammon
This Coming Financial Crisis Is Different: The Fed Has More Tools to Take Your Money - George Gammon
ratings:
Length:
31 minutes
Released:
Apr 21, 2023
Format:
Podcast episode
Description
“If you have this contraction in the money supply and we see that continue, then potentially you go into a 1930s type of Great Depression,” says George Gammon, macroeconomics expert and host of the Rebel Capitalist Show. He says the money supply contracted 20% to 30% during the Great Depression, leading to business failures and a reduction in bank lending... and that is exactly what we are seeing right now. In addition, he argues that the recently announced IMF central bank digital currency serves as a means for the Fed to control and “micromanage the global monetary system.” “Instead of holding gold on their balance sheet as a reserve asset, the Federal Reserve would hold digital SDRs,” making the transfers and payments across borders much easier. He concludes that the global monetary system has been broken since 2008 and he predicts a hard landing due to the fragility of the banking system. ➡️ Watch Here
Released:
Apr 21, 2023
Format:
Podcast episode
Titles in the series (100)
Recession Unstoppable Now And Situation Is Beyond the Fed, Warns Peter Grandich: Inflation today compared to the 1980s, "is a completely different animal this time around, and the situation is so beyond what the Fed can do now," says Peter Grandich, founder of Peter Grandich & Company. The enthusiasm over this week's Fed rate hike... by The Daniela Cambone Show