The Great Reset & Modern Monetary Theory

Welcome to RIGGED [against you], the podcast that helps you RIG the wealth game back in your favor. I’m Terry Sacka AAMS of Cornerstone Asset Metals.

This is RIGGED. I’m Terry Sacka.

Today. We’re going to talk about the concept of the great reset and how it’s related to the modern monetary theory. Um, it’s something that you’re hearing a lot out in the media now, especially the, you know, the argument of the modern monetary theory concept and the great reset, of course, we’ve been talking a lot about and how all this is coming together. And it’s actually really important because many people are realizing, Hey, all of a sudden, our government is printing trillions and proposing to print trillions and trillions more so what’s taken it so long. Or how did all this kind of evolve? Because that was not the natural concept of the development of money, which money is a storage of value over time. Of course, money is something that gains in value it’s because what we’re dealing with is something called a currency. And the great reset is attached to this.

You see, because the great reset eventually wants to take everything to a digital currency, a central bank, digital currency control. And then eventually, if they really get their way, they would eliminate paper currency altogether. But there’s a really big difference between paper currency and digital currency paper currency. Yet it may be losing value as they print trillions and trillions, but it’s something that has autonomy. Like it’s, it’s something that you can keep in your pocket. Something that nobody knows you have. You could walk around with a thousand dollars in your pocket and nobody knows it. It’s something that you control. Nobody knows how much currency you have stashed under your mattress, but the digital currency concept, it’s going to be completely the opposite, everybody. Well, the banking system, financial system, everything, you know, regarding the control mechanism, they will know everything you have. There is no privacy.

They will know not only everything you have, they’ll know everything. You spend money on, who you associate with. They can cross link through databases. I mean, it’s going to be horrifying, but the idea is, is important to understand because a lot of people, they keep hearing the word modern monetary theory, as it’s better known as the MMT, but it’s a reoccurring theme and it’s not likely to go away. So I think understanding it will help you understand that the printing of the trail unions and trillions that they’re offering right now is not healthy for any longterm saver, storage of value over time, indefinitely, not good for inheritance to the children or the children’s children. However, we do have an issue because there’s nothing modern about it, nothing modern about the concept of modern monetary theory. It’s not about money. You see, they’ve walked away from the value of money.

It’s about currency and it’s no longer a thing. They have full blown, activated it. Some say we don’t live in a true free market society. And, um, my first statement is, um, yeah, what’s your first clue. These markets, of course, are not free, not even close to being free. You just have to look at the derivatives controlling gold and silver to know that in many ways though, that’s been a specialty. So since the us central bank, the federal reserve was established in 1913, that’s kind of when all this really started. And it’s kind of the stamp definition of when America became a reserve currency in itself, kind of controlling the dynamics in the world for that purpose. Let’s just understand that there’s modern monetary theory as suffice to say, because the fed sets the interest rates. They’re the ones involved in dealing with the, the, um, influx of, of currencies into a system or credit into a system and taking it away.

Matter of fact, we showed charts on the wealth transfer news program of beautiful charts, where we were on a gold standard for the longest time in for the most part, things kind of were a flat line consistent. And then there’s three major, major gyrations where they inserted currency printed and, or, um, issued credit. Would your digits in the cosmos? And then they pull it away. They tighten credit as we are right now, the reason we’re not seeing extraordinary inflation, Oh my gosh, excuse me. We are, but we haven’t even begun because the banks right now are not even close to loaning to the ratio of deposits. There are trillions of dollars of deposits on the banking system books. And yet normally they would loan money to an equation or a ratio to those deposits. And when the question becomes, well, why haven’t they been doing that?

Because when you actually look at the loan statistics, banks are really at about a 2007, 2008 levels of lending and people are, well, why is that the case? Are they just nervous because of the economy? Because the pandemic, no, because they’re taking the money and putting it in the stock market, they’re making more money going into the market than to give somebody alone at Lowe’s interest. They’re just pulling it. Yeah. Putting it off really on the federal government, Hey, go get your PPP loan if you need any money, but that’s extremely unhealthy and not good for small business, but you see this whole manipulation of the interest rates and the, the control of this currency is causing the issue. And so as they start talking about this modern theory of money, what they’re really saying is we want the ability to print into infinity

Because you see the feds are setting these interest rates on loans. They’re not supposed to, we don’t have a free market in one of the most basic and pervasive aspects of our life money. Actually a better word is currency because money is supposed to have intrinsic value. And today’s Fiat dollars only have value because central banks issue them and governments decree saying that we have to accept them. So of interest rates are set by a central authority, the central bank, then the market for currency is not free as they are deciding as really what rate of currency should be loaned out at seas. They’re manipulating the system. Well, we understand that, but where’s the consequence to it is the interest rates are essentially the price to borrow money or currency in a free market. That price is supposed to be said between a lender and a borrower, not the government or the central bank.

So this monetary theory, this, you know, modern theory, they try to call it as the idea that the federal spending is not limited by revenue. When I think about that insanity, that’s what the gold standard was so good for it because it was all about revenue and how much revenue is to your spending. Just like we, the people, right, how much income we make to what we can spend, but they don’t do that anymore. They’re not limited by revenue. They print money. It’s a tool to be used to help a, a country deal with its economic issue. And it will not automatically trigger inflation or currency devaluation. So they think they believe governments who print and spend their own currency should not be limited in their spending to avoid deficit and growing debt. They say the deficits and dead don’t matter unless they begin generating inflation like right now, a company or an individual cannot operate on this basis.

You and I cannot operate on this basis, but yet they’re doing it. Firstly, they don’t print their own money. So they don’t have the luxury can imagine if we can do that in our own community, they also cannot borrow to infinity because at some point creditors will force them into bankruptcy. Now that is more like a real market, but not when it comes to the central bank. You see it’s all about the Fiat currencies and Fiat currencies. We’ve talked about this often have all failed. Eventually they all typically world reserve currencies last about a hundred years on average and the American reserve currency system right now, if we go back to the 1913 indoctrination or all over 115 years ourself, and the longest reserve currency was Spain at 110 years from 1530 to 1,640 Britain held that title for 105 years. So you see we’re already on the edge of overdoing, what we had known as the dollar reserve currency.

And it’s all because of this modern monetary theory, the concept of we can just print in print as much as we want to do what we need is just not realistic. And that’s why we’re starting to see enormous inflation. You see a nation’s currency has value because the state has issued it. And because only that currency is accepted to pay taxes and that makes it earning the currency of the nation necessary to pay those taxes were really ineffective is that the currency has value because of government decree, not because the free market has accepted it as having value. So you see these days, the central banks have certainly lost a lot of the public’s confidence because they’re just ding printing and printing little remains, partly from the really perceived independence that they have from central government. That’s it, this modern monetary theory would do away with that.

And markets would likely quickly lose confidence in a central bank. As a result, inflation expectations would soar and interest rates would follow. We almost there. Now, now we haven’t lost faith in the dollar yet or the world hasn’t, but a really good example is what happened in Turkey, Turkey just recently, president Ertegun replaced the central bank governor two days after he hiked interest rates, he tried to curb inflation. It was running around 16% and it, and that ended up weakening the currency. Ertegun had been repeatedly calling for lower rates. So after he replaced the central bank, governor their currency, the Lira plunged to record lows, simply put that they’d lost confidence in the market, the system you see because of the manipulation, but one, the things I want to get into to kind of wrap this up is if they’re going to continue to print currency, these trillions and Chili’s, they’re offering stimulus here, stimulus there.

And they’re thinking it’s exciting. The population folks, it’s making people who would seek a job, sit around on the couch and play video games. They’re struggling around this country and service industry. If it wasn’t for the service industry right now in car dealerships, we wouldn’t even have an employment number. Automobile dealerships are going through the roof too, because they, you know, we’re having chip shortage because of Taiwan and issues there. But that could last a couple of years. So you want to talk about a boom in used cars, but nobody wants to go to work anymore because they’re printing all this currency and saying, Hey, here’s payments for you. Here’s unemployment money. You could just sit around. We’re ready to go. There’s States here, ready to go.

 

Cornerstone Asset Metals:
With record money printing, wild fluctuations in the stock market, and our devalued currency, only one easily accessible investment has stood the test of time – and that is precious metals. Precious metals such as physical silver and gold are a store of value, provide stability for your portfolio, and are the most widely accepted hedge against inflation and market volatility. Fortunes of incalculable wealth have been built throughout history through ownership of these wonderful metals and smart investors still rely on the dependability of silver and gold to protect and preserve their hard earned wealth, and prosper in times of economic uncertainty. Call Cornerstone Asset Metals today at 888-747-3309 to protect, preserve and prosper with silver and gold. Call 888-747-3309 or visit CornerstoneAssetMetals.com