The Greatest depression is coming, are you ready?

Post #1575 is a link that I shared from Prophecy Club. Both the video and the title are from him. I did not add any commentary. However, it was filled with current events as reported in the news, so I felt it appropriate to post to this thread. If you have a problem with what he says talk to him. No, I will not apologize for posting editorials that summarize the news on this topic.

Post #1565 -- You apparently are not aware of what the "Petro Dollar" is. The term was coined when the US cut a deal with Saudi Arabia to not sell oil in any currency other than the US dollar. Since that deal expired and has not been renewed the term "Petro dollar" was hardly still appropriate. But since then they have done very large deals in the Yuan, and now with Saudi Arabia selling its US debt and putting trade sanctions on the US I think we can officially say the term "Petro Dollar" is no longer relevant. That is not a prediction, simply stating the obvious.

So you neither agree nor disagree with his prediction, and just posted it because you found it interesting.

https://www.bloomberg.com/opinion/a...g-live-the-petrodollar?embedded-checkout=true

Yes, I find his post credible, interesting and relevant. But I am not responsible for what anyone else says. I am responsible for posting the link because I find him to be an important voice on this topic.

The article you have posted from Bloomberg is more than two months out of date. It was done before Saudi Arabia did a massive deal in Yuan, it was done before they sold their US debt and it was done before they placed sanctions on the US. I would however, be interested in what Bloomberg is saying now.

The definition of an echo chamber is only posting things you agree with. So that is not a criteria for me. Credible is. NY Times knowingly lied about a number of stories so I don't post them. Likewise with CNN and MSNBC. The only reason I would post from them is to expose what the propaganda is on the left.

"Out of the abundance of the heart the mouth speaks"

For fifty years we heard how significant it was that the US dollar was the "Petro dollar" due to the deal with Saudi Arabia. So if having that deal is significant to the value of the US dollar do you really think losing that deal is not also significant? So then why would a publication as knowledgeable about the US economy as Bloomberg put into a headline how this is no big deal? That appears as desperation to me, the biggest fear in a fiat currency is that people will lose confidence in it. There is no value to those little pieces of paper other than what people give them. If they flee the US dollar we will see a collapse. So it is typical that countries and the powers that be tell you there is nothing to worry about right up to the minute they declare bankruptcy.

On Wall Street we had a very reliable saying "Money doesn't lie, people lie, but money doesn't". Bloomberg is telling everyone nothing to see here meanwhile Warren Buffet sells close to $1 billion in Bank of America stock. Warren Buffet is a far more trustworthy voice than Bloomberg and selling close to $1 billion in stock in a major bank is all he needs to say as far as I am concerned. By the way, that was one of the news stories reported on by Prophecy Club, the link I posted.

It's interesting to see this thread continue, given how its title and OP are a 2022 prediction about an upcoming depression due to things like global inflation, stock markets, and rising interest rates.

Yet here we are towards the end of 2024 and inflation has fallen, the US stock market is booming, the Fed is poised to start cutting interest rates, and most notably there hasn't even been a recession let alone a depression.

What is interesting is how blind some people are.

Go tell China this, they are in the depths of a depression. Go tell Iran, they too. Tell Venezuela, Ukraine and Russia. You think the wars are unrelated? Obviously a product of all we have come to expect from the public school system.

Gold is up 50% from when Biden took office. Gold is the best measure of value we have, and the US is doing better than the rest of the world, so that gives you an idea of how dreadful it is in the rest of the world.

I read through the first few pages of this thread, and it's pretty hilarious. IMO, the people who keep calling you "chicken little" and told me you tend to post doom and gloom predictions that don't come true were spot on.

He who laughs last laughs best.

Proverbs 1:
24 Because I have called, and ye refused; I have stretched out my hand, and no man regarded;
25 But ye have set at nought all my counsel, and would none of my reproof:
26 I also will laugh at your calamity; I will mock when your fear cometh;
27 When your fear cometh as desolation, and your destruction cometh as a whirlwind; when distress and anguish cometh upon you.
28 Then shall they call upon me, but I will not answer; they shall seek me early, but they shall not find me:
29 For that they hated knowledge, and did not choose the fear of the Lord:
30 They would none of my counsel: they despised all my reproof.
31 Therefore shall they eat of the fruit of their own way, and be filled with their own devices.
32 For the turning away of the simple shall slay them, and the prosperity of fools shall destroy them.
33 But whoso hearkeneth unto me shall dwell safely, and shall be quiet from fear of evil.

The Tip of the AI iceberg

Volkswagen employs 300,000 in Germany.

TOTAL COLLAPSE: German Economy Is DONE as Its BIGGEST Employer Shuts Down Operations


"There are no more checks coming from China"

Collapse of China's economy will bring down Germany as well.

Saudi Arabia Just Signed A $100 BILLION Deal With China & SHOCKS The US!

Taxing unrealized capital gains is theft.

For example, in 1970 gold was $40 an ounce and today it is $2,500 an ounce. You are averaging 8% increase per year. Suppose we taxed unrealized capital gains at 15% each year and in 1970 you bought 1,000 ounces of gold. Then each year you pay the taxes by selling gold. In 2024 you would have 591 ounces of gold. There was no "capital gain" rather there was a whole lot of inflation. So you have lost 40% of your gold due to this "capital gain".

They taxed you on the income before you even bought the gold and now they are simply siphoning off the gold you bought.

"AI will replace all jobs"

Putin and China just scored a DEVASTATING blow to the U.S. Dollar; buckle up! | Redacted News

For years we heard how strong the economy is, now we know that 1.4 million jobs have been lost, that the US citizens have been net losers of jobs and immigrants have been net gain in jobs and that the jobs lost were full time with benefits while the jobs created are part time and temporary.

It's All A Lie! American Born Workers Have Lost A Staggering 1.4 Million Jobs! Immigrants +3 Million


We have also learned that there are 10 million who cannot pay their mortgage / or rent. That works out to about 14% of households.

In addition I just heard that half of small businesses have missed their September rent. I don't know how accurate that is, but I have been following the crisis in commercial real estate and the banks are ready to declare bankruptcy.

1/2 of Small Businesses MISSED September Rent | Banks SLASHING Credit Lines


I have also learned that just this year Saudi Arabia has decided to not renew our treaty for the petro dollar and that China and Saudi Arabia are divesting of the US dollar. For fifty years it was called the "petro dollar" because it was the reason we were the reserve currency and the reason the US dollar was as strong as it was and the reason we could afford our standard of living. So anyone who says this is not a big development is either a complete idiot or else or a liar.


Saudi Arabia Ditching the US Dollar | How This Affects You


Saudi Arabia Just Helped China & Russia By Selling Of It's US Treasury & Debt!

Japan Sell off more than $60 Billion Treasury Holding: What's Going On?

Saudi Arabia Just Helped Russia Against US With INSANE Oil Sanctions Against US!

Minimum wage is a good metric for the collapse of the dollar.

1956 -- $1 an hour

18 years later it had doubled

1974 -- $ 2 an hour

16 years later it had doubled

1990 -- $4 an hour

In July of 2009 it was the last time Federal Minimum wage was changed and that was $7.25 an hour. That is essentially doubled again in about 19 years. But since then Federal law hasn't changed because each state has their own minimum wage.

https://www.theepochtimes.com/busin...oReport&src_src=partner&src_cmp=BonginoReport

Bank of America is now saying Minimum wage is going to be $24 an hour. It took 34 years to go from $2 an hour to $6 an hour. But only 15 years to go from $8 an hour to $24 an hour.

But it is worse than that because California passed $16 an hour min wage in January of 2024, highest in the country and only nine months later BOA is talking about $24 an hour.

You might think this is good for the poor but you would be wrong. This is good for those selling AI and robots because it is now much easier to justify the ROI for these things.