Bankism: How the Government's Bank-First Policies are Destroying the Nation and how to Survive the Aftermath of a Coming Dollar Collapse (en Inglés)
Reseña del libro "Bankism: How the Government's Bank-First Policies are Destroying the Nation and how to Survive the Aftermath of a Coming Dollar Collapse (en Inglés)"
Under the philosophy of Bankism, the federal government has elevated the welfare of the nation’s banks above the welfare of its citizens and the aggregate health of the economy. The profitability and survival of U.S. financial institutions has become the dominant concern of American monetary authorities whose legislation now works towards keeping the biggest banks out of insolvency, all the while making banks ever larger, more powerful and more profitable so that they systematically risk the nation. The great 2008 Bailout followed the rules of Bankism because it saved the banks from bankruptcy but didn’t save the U.S. economy, which is now dependent upon rising debt and artificially inflated asset prices to keep it afloat. Financialization, which has substituted the expansion of debt, leverage and speculation for the creation of real goods and services in a nation, has become a toxic means to temporarily avert catastrophe by propping up the economy, but the apparent prosperity is a house of cards waiting for some black swan event to suddenly burst the bubble without warning. The real U.S. economy has been progressively hollowed out due to the loss of domestic manufacturing, the offshoring of jobs and the toxic road of financialization so it will not survive the bubble prick without major economic devastation. America is well past the point of no return. The new debt is producing less and less of a stimulating effect while its rising volume makes raising interest rates impossible. The country is now unable to repay its debt load, and its hidden insolvency now threatens the entire world economy through the domino effect of international co-dependences. The Fed has basically lost its control of being able to steer the economy and its emphasis on Bankism has turned it into a rogue element undermining the nation. Even the ESF, the U.S. Treasury’s ultra-secretive Exchange Stabilization Fund cannot save us through its normal strategies and manipulations. Foreign nations see the writing on the wall and have been selling the U.S. dollar and Treasury bonds in response while accumulating gold bullion in preparation for upcoming radical change of the world financial system. They have quietly been working at de-dollarization moves, spearheaded by China and Russia, to replace their dependence upon the U.S. dollar in world trade, banking reserves and dollar payment mechanisms. The Petrodollar is in the hospital suffering from survival risk, and with its demise will come the end of the American empire of endless spending, unlimited wars, cheap import prices, international respect and a thriving economy. The safest course of action for the consequences lying ahead is to own physical gold and silver, as well as Bitcoin or other cryptocurrencies, in order to safely pass through the coming collapse of the dollar, inevitable decline in asset prices when interest rates rise, and destruction of the U.S. economy as various gold-backed and non-dollar payment systems go online that will supplant the dollar and reduce its predominance in world trade. The reign of fiat paper currency and assets will be temporarily replaced by the reign of hard assets once again. Inside is a history of what brought us to this state of affairs and what to do to move ahead.
