The Monetary Crisis & Digital Currencies

[Music] let me come uh and bring the other trend in here the monetary crisis coming in and again you you had time to talk just a bit about it but you talked yesterday about the move to digital currencies as one of the manifestations of that monitoring crisis one of the responses of the monetary crisis uh talk just a little bit more about how that looks and the timing on that is that's another 2022 timing for example yeah maybe even 21. i mean it's uh uh i think i had done a a uh an interview in canada and i said it's about the digital currencies and i think it was about a week or two weeks after that then the bank of canada came out and said oh yeah by the way we're looking at digital currencies um they're all doing it from china to europe uh even the fed because this is being sold and um first they were one pitch was that physical money was was uh dirty they could get covered from it so there were shortages of coins and then paper money oh in some stores saying we don't take money anymore only credit cards um so it interesting that was the sales pitch i mean physical money in one form or another has been around since 600 bc all of a sudden it's it we get ill from it and we can die from copen you know and these are just sales uh pitches but um i mean the digital currency thing uh i've been going back and forth with them i would say at least for four years maybe five uh and you know i'd be asked questions what do you think of this you know that yeah their view is that there's this underground economy and like i mentioned in australia they're following you know your children to school and stuff like that the ironwind laguard was at the head of the imf she was running around through all the tax havens and threatening them take them out of the swift system so you can't buy or sell anything unless you give up everybody that's there um germany went in to switzerland and started paying bribes to people in the banks to give him lists of all the germans with accounts there so it's been this hunt for money that has been dramatic and again rather than address the system and their spending and etc and all their guarantees and pension funds that they they guarantee they're never the problem we are so we have to go get you know this idea that if they if everybody paid every dime of tax uh on every dollar they found in a parking lot they would be okay and that's absurd completely absurd but like i said there's never any mirrors in in government it's it's you know they never look at themselves it's always our fault so the digital currency idea is ending the underground economy then they think that will be all taxable worse is then everything is there they decide okay fine we're going to raise taxes by five percent and then they just take it just automatically deduct it from your account um you don't even have to file we're going to save you time you don't have to file tax reform it's just going to take your money you know this is how they pitch things and i say i've been dealing with this back and forth in questions and and talking um with a number of them on this and this has been the direction digital currency that's it and that is manifesting as the monetary crisis cycle because you get these monetary crisis events that take place usually the currency collapses because of fiscal mismanagement so we got the fiscal mismanagement they know the currencies you know going to be difficult and like i said when i was over there uh and they were saying they wanted to take the trading of the euro away from from london you know as if they could then protect the euro um so it's just their mentality of always control control control and i think that's what's going to blow up and i think that's one of the biggest problems with the west and these things only get resolved honestly when you end up in a situation of revolution and this is why when you hear these different scenario or the different um powerful trends coming to play as you say coming into 2022-23 uh starting next year even uh you know that's why i'm getting so many questions and say okay so what should i do what should i do to protect myself and i'll give you a few examples and you can go through them but uh one of the things that socrates has been identifying as the bull market and agriculturals for example the other side is looking for real estate trends so getting questions like hey maybe it's a good idea to not have my currency whether it's going to turn digital and in fact own farmland as an example just trying to get the money out of the currency situation uh especially if it's going to become digital and put it into other assets so talk a little bit about agriculture what about buying agricultural farmland is that the secret uh the secret trend when we start seeing the movement it depends where you're at i mean the u.s is definitely in a period of a significant drought which also impacts the agricultural side going forward as well then down in australia we have a lot of clients there and a lot of the farmland has been bought up by the chinese so as people have you know put property on up for sale because and nobody else could afford to buy it the chinese have bought a lot of it so it there's droughts there as well so it depends where you're at uh we have like one farmer's in an area with okay so he's not getting hit with the drought um but you know that's that's definitely sensitive on the real estate side we have serious movement so we still see the real estate cycle collapsing as far as the urban centers are concerned and it's more like what i've i've been saying you know like the flight from rome you know um so people are moving into the suburbs you have a lot of people fleeing california tremendously there in new york um they're heading uh to texas and florida i mean i you know prefer to go to texas a little bit more please um i don't you know traffic's starting to get a little bit uh heavier here in what we call the snowbird season but it's clearly shifting in that in that sense i think even musk is now saying that he's leaving california moving to texas too i mean california is just kind of like a hopeless case that way as far as taxes and stuff they don't reform they're counting on biden reversing everything that trump did and i can tell you what trump did was a it's going to be interesting if biden can can reverse that because it was the states it wasn't really trump it was all the states that were complaining because california had an income tax at 13 and a half now if you deduct what you paid there from the federal and then you looked at alabama you know virginia and stuff where that isn't the case the the argument was you're subsidizing california that's a transfer because they can make interest you know taxes 50 percent and then subtract it against your federal so you know they're just taking the money from federal to california so that was really what was behind um trump saying 10 000 deductible period uh you know it's portrayed as oh that's just trump economics what no this has been going on for a couple decades with other states complaining that that one state that's very high in taxes is getting subsidized basically by the feds when they're not so um you know it would be interesting to see if biden can reverse that without the other states screaming but uh you know california got just absolutely insane on their taxes and their space shuttles it was like they went in the taxing per mile you flew straight up in the air what's this got to do with anything you know um but uh they they don't get it you know um and i mean you get people like aoc when she chased out the the manufacturing there oh you know we're gonna we saved three billion dollars hello that's three billion in a credit you were giving them to come it's not three billion in cash and she's out there saying oh we got three billion in cash now to give to people in the community uh you don't sorry hello do you understand what this is about this is a little bit more than you know bartending okay don't get me started on her okay just she's our version of your trudeau we're talking sort of the next two years and uh you know again one of the things that you made clear is that obviously the government's desperation for money to not only maintain the status quo in that way in their government way to grow it uh so we talk about gold we talk about bitcoin and again it would seem that uh maybe not that's what i want to ask the time frame for over the next two years you think it's still worrisome that they walk in and say no no one else is allowed to create currency and they do something with bitcoin uh yes that's um look historically it's a sovereign right the sovereign issues the money anybody else that issues money was called counterfeiting you go to jail for life if you weren't beheaded right so i mean i've had intimate conversations with people in government when this thing was starting and we discussed it and that's why i put out from day one i said look they're allowing this to take place because that's the way it's sold to the public then at the end they just confiscate it and say thank you here's our version so you're already acclimated to cryptocurrency all right like i said i would go to starbucks and you see the younger generation they just hold up their phone nobody even has cash anymore um so the younger generation you know okay fine so the government has it instead of bitcoin what's the difference to then it there is real no difference and this is what it's how they sell it so this is what's been going on um and you see china you know basically saying nobody can you know uh they're highly regulating it at this stage in the game the same thing i mentioned we had problems with uh in europe because we just simply issued a bitcoin report um so i i i don't think the cryptocurrencies have a long lifespan i would be i would think if they're going to be confiscated it's probably going to be 21 maybe 22 at the latest and the more crisis they end up in the more pressure they get economically that's what they'll take

Channel: Martin Armstrong

Views: 5,383

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Id: 6s8oFtYYdck

Length: 12min 54sec (774 seconds)

Published: Fri Oct 15 2021