With each passing day it becomes more obvious. The world is broke, busted, bankrupt, plum tuckered out. The Coronavirus did not cause this, it is simply the catalyst used to bring about the financial crisis.
Just about every financial expert in the world already knew the system was broken, yet, it kept on ticking. They all knew debt was too high, and there would be a “correction” as it is typically called.
The Coronavirus has been used to bring about this “correction”. Scratch that, it will not be a correction, there are too many corrections to be made for this sheet of paper. It has been erased over, marked and penned to no end. Now, we need a new sheet of paper. I am referring to a new global order the mainstream media keeps talking about.
Let’s save that for another article, and look at the financial distress the world is feeling right now.
California Is Busted
CA Governor Gavin Newsom said,
“I’m doing everything I can to work with cities and counties, but we are not going to be in a position, even as the nation’s fifth-largest economy, to provide for the needs of all the cities and the counties without federal support.”
California has the 5th largest economy in the world. I said world, yet, they do not have the funds to fix the mess they are in. So how on earth can the Federal Government fix it?
California is too large to fix.
Where do you think all that Federal money comes from? A majority of it comes from California in the form of taxes. If California does not have the dough, no one does.
Before we move on, remember, everyone with half a brain knew this was going to happen when they (your Republican and Democrat elected officials) shut the country down. That shows how evil or stupid our elected officials are. You do not make a decision in life without understanding the consequences of your decision, BEFORE you make it.
Meanwhile, more California counties are giving ol Gavin the finger by opening up shop.
Rent Strikes
With more than 30 million Americans now unemployed in the last 6-8 weeks, we are hearing more and more about rent strikes. Over 30 states already have blocked evictions over COVID-19.
However, landlords have bills to pay too…
Recently we also explained how mortgages are being withheld as well, these mortgages are in forbearance, yet we know, the shell game simply cannot continue on forever.
All the actions we have seen from this fiasco indicate a soft collapse of our economic system. Not just in the United States, but around the world.
Speaking of…
Lebanon Requests I.M.F. Bailout
The Lebanon Loan amounts to $10 billion, in addition to another $11 billion that has been gifted to them by other nations.
I know what you are wondering…
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Where does the I.M.F. (International Monetary Fund) get its money from?
I am glad you asked!
Resources for IMF loans to its members on non-concessional terms are provided by member countries, primarily through their payment of quotas.
One of the many nations who funds the I.M.F., and the United States makes up 17.45% of their budget. Since all of these nations are bankrupt, it means the IMF is as well. The whole system is busted.
In fact the,
IMF has more than $200 billion of loanable funds, plus extra resources
That is a drop in the bucket.
The Federal Reserve was artificially creating over $75 billion a day just for the U.S. economy recently, and continues to create billions in artificial currency a day.
Iran recently requested a $5 billion loan from the IMF, yet, that was blocked by the United States. In other news, Iran is attempting to change and fix its broken currency which has been devalued by 60%. Much of this was due to Trump erasing the 2015 nuclear agreement, and adding additional economic sanctions against Iran.
The economic system needs trillions, and trillions of dollars. No one has this type of money, there is not enough value to create these amounts of money.
No Turning Back
As this Reuters article explains, there is no turning back from the artificial creation of money.
The world’s top central bankers have pulled out all the stops in their fight against the coronavirus fallout, taking money printing to extremes that may become the new normal long after the pandemic is over.
The article goes on to say that Central Banks (not national banks, but Central Banks like the Federal Reserve who receive monetary policy from the Bank Of International Settlements),
Are now more or less openly talking about permanent QE.
Permanent quantitive easing.
Permanent creation of money and the bailing out of whomever they desire.
All of this is making it abundantly clear, the current global order is on life support.