“History doesn’t repeat itself, but it often rhymes,” is a popular quote attributed to Mark Twain, and is an important concept to think about with the current state of the world amid ramping geopolitical tensions and deteriorating economic conditions.
Roughly 100 years ago, ‘rhyming’ circumstances were setting the stage for the Great Depression and a Second World War, and if we aren’t careful, there is the potential for the global economy to sink into a deep recession/depression while chatter about the potential for World War 3 is also on the rise.
With major conflicts now including Ukraine v. Russia, the growing threat of Russia v. NATO, Israel v. Palestine, Israel and the U.S. v. Iran, and China threatening Taiwan, among others, while we cannot say that WWIII is underway, it’s not a stretch to say that we are a world at war.
Naturally, the circumstances the world finds itself in are causing consternation for investors, who desperately want to maintain their wealth despite the mounting headwinds they face in doing so, leading many to question if gold, and to a lesser extent, Bitcoin (BTC), could potentially offer protection.
Kitco Crypto reached out to experts on geopolitical and financial matters to get their take on the likelihood of World War III happening in the foreseeable future and what it would mean for gold and Bitcoin.
“There are two forces at work here,” said Martin Armstrong, an economic forecaster and founder of Armstrong Economics.
“First, we have the Neocons who have waged endless wars since the 1960s.”
“Even Robert MacNamara wrote a book and on YouTube you will see his interview before he died explaining they thought Russia was behind Vietnam, but they were wrong; it was just a civil war,” he noted. “You can examine every war and you will find it was based on lies. Tony Blair’s video on YouTube is his Apology for the Iraq War. Again, they were wrong.”
“The Neocons have been relentless in their thirst for endless wars,” Armstrong said. “You have Blinken threatening China over Taiwan when they held 10% of the US debt. That are now net sellers. They only see war – not the economics or the country.”
“Second, virtually every country in Europe is now chanting war with Russia thanks to NATO, also a Neocon organization,” he highlighted. “The monetary system of the West is based on endless deficits spending. The default comes regardless of the debt level. The default in these Ponzi scheme unfolds when they cannot find a buyer for the new debt that enables them to pay off the old.”
“This is what we now face for the first time because Biden/Harris Administration has allowed the Neocons to run foreign policy,” Armstrong said. “Governments now NEED to create WWIII for like WWII, all of Europe defaulted on their debt, Britain went into a moratorium, but defaulted on the loans from the USA.”
He suggested that this is the real reason behind the surge in governments exploring the creation of central bank digital currencies (CBDCs).
“This is the real issue behind pushing for CBDCs to eliminate physical money and then everything is traceable,” Armstrong said. “I have spoken with government on both sides of the Atlantic. They assume moving to digital, they will increase tax collection by 35% and terminate the underground economy.”
“Europe routinely cancels its paper currency to prevent people from hoarding cash,” he noted. “America has never done that, which is why the dollar has been the reserve currency someone in China can hold dollars but not euros. Also, the US is a consumer-based economy, so this is why the dollar has been the reserve currency, for Europe needs to see to Americans, as do Asians.”
No comments:
Post a Comment