The Masses Are Usually Wrong And People Are Misled
(Edited)
When it comes to economics and finance, people love their quick little snippets of reasoning. The market dropped because of X.
In this video I discuss how this is misleading people into believing things such as the demise of the dollar. Looking at money printing, as an example, is ignoring what is taking place around the rest of the world.
▶️ 3Speak
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misinformation is the name of the game in the current era unfortunately. False information spreads like wildfire when it just confirms your biases.
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Good point in the regards of the vaccine and the media not covering the side effects testaments and many deaths especially in the case of the elderly. Not only that some won't take the second shot, but quite many won't even take the first one, I being one of them. Yes the agenda is to stimulate people into taking the vaccines and calling the vaccination as the way out of the pandemic but the idea is that the side effects are not to be neglected and on top of that add cases that took the vaccine and still got infected. People are starting to wake up and also start protesting around the world against this fake pandemic. I know how the media works, I graduated journalism and my graduation thesis was about how news are manipulated in the written press. You can guess I didn't score good with that thesis. The mass is usually living live passively, these people don't read, don't ponder, use too much social media and TV and are a catch for this manipulators.
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No you certainly left the planation on that one.
Glad you did because the entire industry is nothing but manipulation.
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The US bond auctions are still in great demand that people are willing to pay more than what they are worth right now. I doubt foreign banks and primary dealers would buy something that they think would not earn them money. If it doesn't go the way they want, I can only see them forcing bond prices to go up (interest rates drop) so they can let other people hold their bags. This can only mean that US dollars are in high demand but that is only for now.
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When you consider what the other countries are paying and how they nuked their bond market, it is not surprising.
What is it, 1/3 of all debt is negative right now. That is astounding.
As some point, my bet is the USD will be the flight to safety again when things start to get bad.
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Most of the bond bullish people I follow along also say the dollar will go up. However, they disagree whether in 20-30 years whether the dollar will still be dominant. Some believe that the long-term outlook of the dollar staying in high demand isn't likely if the interest rates keeps going lower for another decade or two. This is why most of the bond-bullish people are also bullish on things such as gold and bitcoin as stores of value.
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I would agree, when you look at a 20-30 year time frame, yes the USD will be in trouble. The key is that a large portion of the debt out there is in dollar terms. This helps to insulate the currency.
However, if the government has difficulty selling its debt in the next half decade or so, that will dwindle as well as other moves towards maybe the Chinese currency as they gain in power throughout this decade.
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People can be fooled about the $ crashing because they have no idea about how things work. Those with financial education may have idea, but you have to think outside the box and don't believe everything you are told.
Manipulating the masses has always been a powerful tool and the more ignorant people are, the more it's working.
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Earl Nightengale had a good take on this in The Strangest Secret. He said that if you don't have a good role model to emulate, just look at what everyone else is doing and then do the opposite.
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From the earliest days of the self-help/personal development genre.
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As always, a masterpiece. You should have defined CBCDs but I think I saw it elsewhere, is it Community Backed Digital Currencies? Wouldn't the U$D be a CBCD? It is about 90% digital and I recently saw an explanation of the M0 thru M3 money supply, the LITERAL term 'printed currencies' covers very few actual "dollars" (or others like the GBP, Yen, Yuan, Euro, etc)
Next Point, your thesis is strongly backed by YEARS of reading on my part, where the experts are saying that the U$D will probably do exactly what you said. My own colorful description is that "The U$D is the last (and biggest) turd circling the DRAIN" 😜 But I at least acknowledge that the U$D is also far from dead. This death could take decades. Which leads to my final point, we do not have a bitcoin-based common unit of trade with an agreed upon name... Once we have that, and people start transacting in BTC commonly, then I believe the end of Fiat will commence. The great CRYPTO AWAKENING can be the end of the beginning chapter of World Monetary Reform. Hopefully!
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CBDC- Central Bank Digital Currency
It is true the USD is mostly in digital form but it is not a CBDC; nor is the Yuan which is almost exclusively digital. There are still a ton of physical dollars out there, most of them outside the United States.
The difference with a CBDC is that the government can do things it cannot do now. For example, it can go negative very easily with a CBDC. They also can eliminate a large amount of the banking sector since they do not need their bonds sold. Ultimately, CBDCs benefit the governments (read politicians) more than the central banks. The banking industry is just starting to wake up to that fact.
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Thanks for these notes.
Can you name some notable examples of a CBDC?
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China has one now. Sweden is working on the eKONA. Most countries, central banks have at least discussed them.
The digital Euro is also being talked about.
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SO, I take it that these virtual CBDC's will just allow more tomfoolery... referenced to your comments in the video. 👍
Orwell was just 3 dozen years early.
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Summary:
In this video, the speaker, Task, discusses how mainstream media and financial media mislead people with false information and agendas. He challenges the narrative of the dollar's imminent collapse, pointing out that other global economies are also heavily printing money. Task emphasizes that confidence drives capital flow in economies and warns that lack of confidence in governments can lead to a shift of capital from public entities to the private sector, affecting government debt. He predicts a potential flood into the dollar as international markets start to wake up to government failures. Task highlights the importance of monitoring central banks' ability to sell debt as an early warning sign of waning confidence.
Detailed Analysis:
Task begins by criticizing mainstream and financial media for spreading misinformation and agendas, emphasizing that people are misguided about the reality of economics and finance. He debunks the common belief of the dollar's demise, stating that the dollar will rise again despite extensive money printing by other major global economies such as the EU, China, and Japan.
The speaker stresses the role of confidence in driving capital flow and asserts that economies are heavily reliant on confidence, especially in the global market. He references the rush to cash, particularly the US dollar, during the market turmoil in March, indicating that although the dollar has weakened since, international markets are yet to fully price in the current economic realities due to media influence and echo chambers.
Task highlights the risks associated with blind faith in the COVID-19 vaccine's ability to resolve all economic issues, pointing out unreported incidents of allergic reactions affecting people's willingness to complete the vaccination process. He predicts a growing lack of confidence in governments globally due to failing policies, particularly in Europe and the US.
The speaker anticipates a potential capital shift from public debt bonds to private markets, such as equities, which could spell trouble for governments reliant on public debt financing. Task introduces the concept of Central Bank Digital Currencies (CBDCs) as a potential tool for governments to manage failing public debt situations through currency cancellation.
He concludes by suggesting that the US might lag behind Europe in adopting measures to address dwindling confidence in government and central banks. Task advises monitoring central banks' ability to sell debt, particularly focusing on the Federal Reserve, as an early indicator of confidence erosion. This, he suggests, could lead to increased investor trust in the dollar as a safe haven.
In essence, Task paints a picture of a fragile global economic landscape, emphasizing the significance of confidence in government and warning of a potential shift in capital flows that could impact traditional financial markets.