Just like the 1970s, following the Vietnam War and the debasing of the US dollar after Nixon canceled the Bretton Woods system and stopped foreigner’s direct convertibility of the US dollar to gold, inflation is going to roar through the US economy with a vengeance. Gold in 1980 went to $850 an ounce, before Paul Volker and the Federal Reserve raised interest rates to 21% thus creating a deep recession during the Carter presidency, which he was blamed for.
Interest rates will not be raised this time around. The amount of dollars in circulation worldwide is now in the trillions. The US dollar is a faith based currency and the world is going to lose faith in the US government – if it hasn’t already – and dump their dollars. The dollar is rapidly becoming the Old Maid – the currency no one wants to be left holding.
What we are experiencing now – the collapse of our fiat currency – is why God commands that we have just weights and balances:
A just weight and balance are the LORD’s:
all the weights of the bag are his work.
“Do not cheat anyone by using false measures of length, weight or quality.
Use honest scales, honest weights and honest measures.”
Leviticus 19:35, 36
We thought God made a mistake and we used fiat currency instead. We’ve been cheated and we’ve been cheating the entire world for years. We are about to reap what the Jewish bankers sowed.
But food will be much more valuable than gold in the next few years. More on this in future missives.