Is This Economy Like the Carter Years, 2008, or Worse?

How bad are things getting with the economy? Are we going to recover sooner or later? Or never? These are questions I asked Ira Bershatsky on today's episode of The JD Rucker Show.

Oct 27, 2022

Watch today’s episode on Rumble.

In past years, listening to various economists talk about the state of affairs meant listening to a diverse range of opinions. As we approach 2023, the sentiment from economists is arguably more unified than it's been in decades. The outlook is grim. The only divergence in opinions is whether or not recovery will come sooner, later, or never.

We're seeing inflation like the Carter years. We're seeing market fluctuation like the housing crisis of 2008-09. Does this mean we're going to see things get as bad as they were in the late 1970s? Are we seeing a version of the economic downturn following the housing market collapse? Or are we witnessing something far worse? I lean toward things getting worse for one important reason: The leaders and powers-that-be seem bent on prolonging and worsening our economic woes. Solutions are there and they refuse to implement them. This tells me The Great Reset is more important to them than saving the nation and the world from collapse.

On today's episode of The JD Rucker Show, I broke down what I believe to be this conspiratorial reason behind the ongoing economic problems. I was then joined by gold and silver expert Ira Bershatsky, Our Gold Guy, to see what the future holds for markets, including precious metals. Here's the show followed by some of the stories I discussed:

According to Jack Phillips from our premium news partners at The Epoch Times:

Poll: 95 Percent of Americans Concerned About Rise in Food Prices Ahead of Midterms

A Pew Research Center poll revealed that nearly all Americans are concerned about the rise in the cost of food and consumer goods due to inflation in a worrying sign for Democrats ahead of the midterm election.

Conducted last week, the poll showed that 73 percent are “very” concerned and 22 percent are “somewhat” concerned about the rise in prices, while a combined 93 percent are “very” or “somewhat” concerned by the rise in gasoline. Another 87 percent were similarly concerned about the rise in housing costs, and 70 percent were concerned about “how the stock market is doing,” the Pew poll shows.

“The survey finds that inflation remains the dominant economic concern for Americans,” Pew pollsters wrote. “In fact, the three top concerns, among seven items included, relate to prices—for food and consumer goods (73 percent are very concerned about this), gasoline and energy (69 percent), and the cost of housing (60 percent).”

Since President Joe Biden took office, inflation has been steadily rising, with the consumer price index hitting 8.2 percent year-over-year in September. While Biden and Treasury Secretary Janet Yellen have often predicted inflation would level out and decrease, it hasn’t.

Gas prices, meanwhile, have dropped more than $1 on average since reaching all-time highs in June, according to AAA data, but the drop has coincided with Biden’s release of oil from the U.S. Strategic Reserve. The oil-producing nations of OPEC+ several weeks ago announced they would slash oil production in what many saw as a blow to Biden’s prospects and would create more pain at the pump in the long term.

Midterms

The poll was conducted fewer than three weeks to go before the November 2022 midterms, where Republicans are predicted to at least retake the House.

Some Democratic strategists and pollsters say that the party’s lack of focus on dealing with inflation will likely harm candidates’ prospects in November’s General Election.

“A month ago, it looked like not only were the Democrats poised to hold the Senate, the question was: were they going to be able to get, you know, two extra seats?” Fernand Amandi, a Democrat pollster who worked on Barack Obama’s presidential campaigns, told The Hill this week. “Now, I think the hope is just to hang on.”

“Inflation never should have been downplayed,” Mike Lux, a Democrat strategist, told the outlet, adding that lower-income Americans are getting hammered by high prices.

“Working-class folks are getting hit hard by inflation,” he said, “and we need to make clear that we understand what is going on, we know that people are having a tough time and we are with them in this fight.”

According to Mac Slavo at SHTF Plan:

Government Pushs A “Digital Dollar” So It Can Seize Assets At Will and Enslave Humanity

The digital dollar is the endgame. No matter what side of the political spectrum you fall on, this will be the permanent and inescapable enslavement the ruling classes of the globe desperately need in order to remain in power.

You will own nothing, while a handful of people will own everything. You will exist if they allow it, be stolen from if they don’t like what you said, and be ruled over in a dystopia that makes our current situation pale in comparison.

Collapse Incoming? Pope Francis Orders Holy See to Transfer ALL Assets to Vatican Bank

A “white paper” published on the White House website calls for the creation of a “digital dollar” that, of course, will be controlled by the ruling class. Much like the Federal Reserve currently has the sole role and responsibility to develop and print fiat currency with which they already control the population to some extent. But the difference here is that if all money was digital, the government and central banks will be one and the same. They could (and would) monitor our bank accounts; monitor all of our transactions; impose barriers to purchases of certain “unfavored” items, and even block access to our money or limit how much of it we could spend.

They will take what they want, and cut off your ability to spend for as long as they want.

“A United States central bank digital currency (CBDC) would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC,” the White House policy paper notes before touting the digital dollar’s “benefits.”

Of course, they’ve decided to pursue this. We all should know by now that they will need to fully control humanity if they expect to remain in power. Hopefully, enough people will see through this and the agenda will fail. “At last year’s Summit for Democracy, President Biden spoke about the importance of using technology ‘to advance democracies to lift people up, not to hold them down.’ If the U.S. launches its own CBDC, it should advance this democratic vision,” the authors wrote.

In a democracy, you’re supposed to get to choose your master and who to serve. That doesn’t make anyone any less a slave.

We had better figure out how to untie against these sociopaths or we face a very bleak future.

According to Belle Carter at Natural News:

WV Congressman Proposes Bill Restoring Dollar’s Gold-Backed Standard

A congressman has filed a proposal to restore the dollar’s gold-backed standard to fight inflation and the monetary system’s collapse.

HR 9157, also known as the Gold Standard Restoration Act, was introduced by Rep. Alex Mooney (R-WV). It would restore the purchasing power of the American currency by re-pegging the Federal Reserve note to gold. The bill sought to address ongoing record-high inflation and problems with runaway federal debt and monetary system instability.

“The gold standard would protect against Washington’s irresponsible spending habits and the creation of money out of thin air,” Mooney said in a statement. “Prices would be shaped by economics rather than the instincts of bureaucrats. No longer would our economy be at the mercy of the Federal Reserve and reckless Washington spenders.”

HR 9157 would require the Federal Reserve and U.S. Treasury to disclose their gold holdings and transactions within 30 months. The act would peg the dollar to a fixed rate of gold at its current market price. It would then become exchangeable into gold again for the first time in many decades, after former President Richard Nixon “temporarily suspended” gold backing of America’s monetary system in 1971.

Tyler Durden of ZeroHedge pointed out that Mooney’s bill also uncovered “several findings as to the harm the Federal Reserve System has inflicted on everyday Americans.”

“The Federal Reserve note has lost more than 30 percent of its purchasing power since 2000, and 97 percent of its purchasing power since the passage of the Federal Reserve Act in 1913,” the bill stated.

According to economists, the Fed officials and the federal government were freed from accountability for “irresponsibly” printing money to expand currency supply and fund government deficits through trillion-dollar bond purchases when the gold redeemability was eliminated from the monetary system. Analysts say they were authorized to “manipulate” the U.S. economy.

Bill’s passage necessary before globalist-controlled central banks implement centralized digital currency

The passing of HR 9157 is necessary, especially now that the globalist-controlled central banks are pushing a centralized digital currency. This will inadvertently end anonymity in market transactions and pave the way to a cashless society.

Jerome Powell, chairman of the Federal Reserve, justified a digital currency as key to potentially helping “maintain the dollar’s international standing.”

But renowned German economist Ernst Wolff warned that the globalists are now working double time to “evolve” the financial system to implement a social and yet digital banking system under the guise of a “humanitarian act.” (Related: The cashless life won’t be worth living.)

During an interview with German alternative TV station AUF1, Wolff said that WEF’s motto this fall is a “frontal attack on the middle class” and that the global elite plans to make giant corporations and states swallow the current price increases. Citizens will suffer, with the middle class bearing most of the burden – leading to escalation and panic.

“Because in the end, citizens are supposed to beg for a new monetary system and a digital basic income, digital central bank money with a social credit system,” Wolff said. “They will even want to sell this to us as a humanitarian act in the end.”

Wolff went on to cite possible situations in the near future, such as how portable electronic devices like cell phones or computers will allow globalists to implement their digital money, social credit and universal surveillance schemes.

He added that people would be unemployed and the government will issue wallets under the guise of humanitarian efforts. Although these wallets will be money on your cell phone, “it is nothing more than an app that serves as your own account,” Wolff noted.

The central bank will have the power to apply individually adapted taxation, individual interest rates and instant penalization charges.

“Money will also have an expiration date. At some point, it will be possible to add to this money a social credit system adapted from the Chinese model,” he said. This could apply communist-like management of personal monetary status.

Visit GoldReport.news for more stories about plans to restore the dollar’s gold-backed standard.

Watch this video about Rep. Alex Mooney’s HR 9157.

This video is from the Andrew Zebrun III channel on Brighteon.com.