2020 was a Financial Disaster for Over Half of the American Population
Channel: The Nomad Economist
Date: 23/12/2020

2020 was a Financial Disaster for Over Half of the American Population
For over half  Of the Americans, 2020 Has Been A Personal Financial Disaster.
Approximately 98 percent of Americans will be severely impoverished because we've always used toilet paper in transactions.
The $600 stimulus pay out is really permission given to Americans to borrow $600 worth of fiat currency from the Federal Reserve banks.  These banks are private banks.  They loan the US Department of Treasury money created out of thin air.  This money is not backed by gold or silver but can be used to buy just about anything anywhere.  Every US dollar says Federal Reserve Note on it meaning that it is loaned from the Federal Reserve Banks and is supposed to be paid back with interest.  It is a crazy system that supports the leading world reserve currency so far.  China has their eyes on this status and would like nothing better than for the US dollar to lose that status.  The current US national debt includes all the money owed to the Federal Reserve Banks and stands at about $25 trillion.  This debt keeps increasing without it being paid back.   How long this system can continue is anyone's guess.  But history shows most Democracies that went to fiat currency lasted about 250 years.  It looks like the USA is dangerously close to that end.
One of the big reasons why so many Americans are angry about the size of the stimulus payments in the relief bill that Congress just passed is because this year has truly been a “financial disaster” for millions upon millions of people.  More Americans than ever before are just barely scraping by from month to month, and $600 is just not going to go very far.  In 2020, small businesses have been getting slaughtered by the thousands, millions of Americans are in imminent danger of being evicted from their homes, and more than 70 million new claims for unemployment benefits have been filed since the pandemic first started.  The U.S. has plunged into a brutal economic depression, and most of the country is desperately hoping that the federal government will do more to bail them out.

 
For the full transcript go to https://financearmageddon.blogspot.com
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