Best-selling author and economic expert Doug Casey says glass steagall eli5 bitcoin financial meltdown worse than the last one is coming soon. I was saying in 2007 that we were going into a gigantic financial hurricane.
It hit in 2008 and 2009. For the last few years, we have been in the eye of the storm of this gigantic hurricane. Why will it be much worse than last time? All these central bankers are doing the same stupid things. The American central bank, the Europeans, Japanese and the Chinese have all printed trillions of new currency units and, yes, they are doing this in concert. Everything looks good until all of a sudden it looks terribly bad.
It’s like when you jump off the Empire State Building. Everything is fine as you pass the 50th floor, but it all happens at once when you hit the sidewalk. I think that’s what we’re looking at, and we’re going to start hitting the sidewalk before the end of the year. The only people who are happy about it are the top dogs and running dogs in and around government.
When central banks create more money, some people get it before other people. The people who are hooked up in the deep state get it first. Eventually, it trickles down to people in Middle America, but there is not much left at that point. This is why the rich are getting richer. The rich guys get that money that is created first. These banks think they have trillions of dollars of assets, but if people don’t pay the loans, the depositors in the banks could be very unhappy.