The U.S. Dollar Is Being Systematically Destroyed, And We Are On A Path That Inevitably Leads To Hyperinflation

If we keep treating the U.S. dollar like it is toilet paper, it is just a matter of time before our entire financial system goes down the tubes.  At this moment, the dollar is still the primary reserve currency of the world, and the fact that we control it is an absolutely massive advantage for us.  Because the rest of the globe uses dollars to trade with one another, that creates a tremendous amount of artificial demand for our currency, and it keeps the value of our currency elevated at a level that it much higher than it otherwise would be.  But now that we are starting to act like the Weimar Republic in their heyday, it is only going to be a matter of time before everyone else on the planet starts abandoning the U.S. dollar in droves.  We are literally killing our “golden goose”, and most Americans do not even understand what is happening.

The remarks that John Williams made about hyperinflation during a recent interview with Greg Hunter have created quite an uproar, but the truth is that Williams is right on target.

We are on the exact same path that Zimbabwe, Venezuela and so many others have already gone down, and the very foolish decisions that we have been making are only going to end in complete and utter disaster.

To illustrate what I am talking about, I would like to direct your attention to what has happened to M2 during this calendar year.  For those that are not familiar with M2, here is a definition that comes from Investopedia

M2 is a calculation of the money supply that includes all elements of M1 as well as “near money.” M1 includes cash and checking deposits, while near money refers to savings deposits, money market securities, mutual funds, and other time deposits. These assets are less liquid than M1 and not as suitable as exchange mediums, but they can be quickly converted into cash or checking deposits.

As you can see on this chart, the M2 curve has been rising at an exponential pace in 2020.  In fact, since the pandemic started the curve has nearly gone vertical…

If we keep doing this, we won’t be facing a major financial disaster years from now.

Rather, it will just be a matter of months before the wheels start coming off.

But our leaders do not have any intention of changing course now.  During 2020 the Federal Reserve has been pumping money into the financial system at a rate that we have never seen before, and they have indicated that they plan to continue to support the financial markets as we head into 2021.

And Chicago Federal Reserve Bank President Charles Evans just said that he expects that interest rates could continue to be pushed all the way to the floor “perhaps into 2024”

Chicago Federal Reserve Bank President Charles Evans said Monday there is still “quite a long ways to go” for the U.S. recovery from the coronavirus crisis, adding that he expects the Fed to keep interest rates at their current near-zero level until perhaps into 2024.

Of course the federal government is going to continue to pump out “stimulus package” after “stimulus package” no matter who is in the White House.  This is a point that John Williams made very strongly during his interview with Greg Hunter

Because they has been so much damage done to the economy, Williams says there will have to be stimulus no matter who eventually makes it into the White House.  Williams contends, “Let’s say Trump gets re-elected.  He’s not going to have any choice but to increase stimulus to try to help the economy and help people.  If Biden takes over, he’s going to have to do the same.  He is already promising massive stimulus.  Where it gets really scary is if the Democrats can take control of the House, the Senate as well as the White House. . . . The stimulus there is going to be unbelievable. . . . The more radical Democrats will just print the money you need and spend whatever you need to spend it on, and don’t worry about it. . . . Whoever gets into power, there is going to be more deficit spending.  It’s just a matter of how radical it will be. . . . There is no way we are escaping massive stimulus for at least the next year and into 2022.”

Virtually everyone likes getting “free money” from the government, but you have probably noticed that the price of just about everything has been going up lately.

And this is just the beginning.  According to Williams, we are literally on the verge of a “hyperinflationary Great Depression”

Williams expects to see some very large inflation because of all the stimulus coming and predicts, “The more left we go, the more rapid will be the demise of the dollar.  Eventually, it will be a hyperinflation in the United States.  What I am looking at here is this evolving into a hyperinflationary Great Depression.  To save yourself, you have to preserve your wealth, your dollar assets.  To do that, you have to convert your dollars into physical gold and silver, precious metals and just hold them.  They will retain value over time as opposed to paper dollars that will effectively become worthless.  You’ll be getting a lot of money from the government, and they will keep giving you more and more and more, but that’s going to be an environment of rising and rising inflation.  It’s not necessarily going to buy you more. . . . Hyperinflation will bring political disruption. . . . Hyperinflation is a form of default.  Gold is telling us hyperinflation is straight ahead of us.”

Needless to say, what Williams is saying is perfectly consistent with the warnings in my new book.

To protect themselves, a lot of investors have been pouring money into gold, silver and other precious metals.

At the start of this year, the price of gold was sitting at $1,520.55.  As I write this article, the price of gold is at $1824.00.

And actually the rise in the price of silver has been even more dramatic over the course of 2020.

Gold and silver will almost certainly keep rising as the value of the dollar continues to be destroyed, but even those that invest in precious metals are not going to win in the end.

Because the truth is that the complete collapse of our financial system is not going to benefit any of us, and there is going to be no way to avoid such a fate if we keep going down this very dangerous path.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Has the post-election stock market crash already begun?

Is this rush for the exits going to turn into a stampede?  Stock prices have been plummeting in recent days, and most of the talking heads on television have been blaming the declines on the COVID-19 pandemic.  Yes, it is true that the number of confirmed cases in the United States is spiking again, but I don’t think that alone is enough to account for what we have been witnessing.  Instead, I believe that the primary reason why stocks have been tumbling is because there is so much uncertainty about what is going to take place next week.  Investors hate uncertainty, and it appears that many of them would prefer to be on the sidelines rather than gamble on the outcome of this election.

On Wednesday, the Dow Jones Industrial Average was down another 943 points, and that was the worst day that we have seen since June 11th

The Dow Jones Industrial Average dropped 943.24 points, or 3.4%, to 26,519.95, posting its fourth straight negative session. The S&P 500 slid 3.5%, or 119.65 points, to 3,271.03, while the Nasdaq Composite fell 3.7%, or 426.48 points, to 11,004.87. The Dow and the S&P 500 both suffered their worst day since June 11.

Overall, stock prices have now fallen for four trading sessions in a row.

Will Thursday make it five?

I just can’t see a whole lot of investors wanting to jump into the market right before Election Day.  Many have warned that an extended period of time when we don’t know the winner of the presidential election would be a “nightmare scenario” for investors, and right now it appears to be quite likely that we are headed for just such a scenario.

Yes, it is still possible that we could witness a landslide victory for either Joe Biden or Donald Trump that would bring the race to a conclusion very rapidly, and such an outcome would be greatly welcomed by the financial markets.

Unfortunately, it is probably much more likely that the election results will be bitterly contested, and the counting of mail-in ballots and legal fights over which votes to count could take weeks to resolve.

And when it is all over, that is when things could get really interesting.  There will be tens of millions of Americans that will be extremely upset no matter which side wins, and we could very easily see a massive national temper tantrum.

In the past, presidential elections have often resulted in significant stock market rallies, but this time around I think that it is quite likely that the opposite will be true.  Chaos in the streets is likely to be accompanied by chaos in the financial markets, and once stock prices start falling they could potentially tumble quite a long way.

Meanwhile, health authorities are telling us that the number of confirmed COVID-19 cases is starting to rise aggressively, and this is creating a whole lot of fear

For the first time since the pandemic began, the United States added more than half a million coronavirus cases in a week, according to a USA TODAY analysis of Johns Hopkins University data. This is the third day in a row the U.S. set a record for how many coronavirus cases it reported over the previous seven days.

In particular, many investors are deeply concerned that a new wave of lockdowns could crush the U.S. economy once again.  According to CNBC’s Jim Cramer, more lockdowns without more stimulus money from the federal government would be disastrous for the financial markets

Appearing on CNBC’s Squawk Box Wednesday, Cramer said he believes that restrictive measures such as those announced Tuesday in Chicago are on the horizon, and that without a stimulus deal, the implications for the market may be dire.

“I just think that there’s going to be a call for lockdowns the likes of which we’ve seen in Chicago,” Cramer said. “And I think that the lockdowns without the stimulus equals what we’re seeing,” he added — referring to the market’s freefall this week.

Of course the real economy has never recovered from the lockdowns that were instituted earlier this year.

For example, Boeing just announced that they will be laying off more workers than originally projected

Boeing will cut more jobs as it continues to bleed money and its revenue fades during a pandemic that has smothered demand for new airline planes.

The company said Wednesday that it expects to cut its workforce to about 130,000 people by the end of next year, or 30,000 fewer than it began with in 2020. That is a far deeper cut to its workforce than the 19,000 jobs the company said it planned to trim just three months ago.

And small businesses continue to suffer greatly all over the country as well.

If you can believe it, one recent survey found that a whopping 34 percent of all small businesses in America were not able to pay all of their rent for the month of October

Eight months into this devastating pandemic, more than one-third of small businesses are still having trouble paying their rent, according to our latest Alignable Pulse Poll of 7, 726 small business owners taken last week.

Right now, 34% of our small business owners report that they were NOT able to pay full rent in October.

There is no way that anyone should be using the word “recovery” to describe what we are witnessing.  When a third of all small businesses cannot even pay rent, that indicates that we are in a full-blown economic depression.

Earlier this year, the Federal Reserve pulled out all the stops in order to support the financial markets and the economy, but now even CNBC is admitting that the Fed is just about out of ammunition…

While no Fed official ever would acknowledge that monetary policy ammunition is running low, and in fact would insist to the contrary, there appear to be few weapons left in the Fed arsenal.

“What they have left is really on the margin,” said Mark Zandi, chief economist at Moody’s Analytics. “They just don’t have much room to maneuver with regard to monetary policy. I don’t really see what more they can do. That’s why they’ve been so explicit in telling fiscal policymakers to do more, because they know they can’t help.”

So what is the Fed going to do if there is another huge wave of lockdowns all across the nation?

And what is the Fed going to do if there is another huge wave of rioting, looting and violence like we are currently witnessing in Philadelphia?

This election has the potential to be the spark that begins a very dark chapter in our history.

If things take a really bad turn, a stock market collapse may end up being among the least of our problems.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

20 things that you must believe in order to convince yourself that everything is going to turn out okay somehow

Despite everything that we have already been through in 2020, the dominant narrative in our society right now is that everything is going to be just fine once we get past our temporary problems.  So many people that I hear from can’t understand why I am so “negative” about the future, because they are completely convinced that really great days are just around the corner.  As odd as this may sound, we are seeing this sort of wild optimism among both Democrats and Republicans, Christians and atheists, capitalists and communists.  Of course about half the country will have their optimistic hopes for the future brutally crushed by the results of the upcoming election, but we aren’t there yet.  For now, both sides are absolutely convinced that they are going to win, and both sides are envisioning a wonderful new era for our nation in which their values reign triumphant.

If only things were that easy.

The truth is that many of our largest problems have been steadily growing for decades, and they aren’t going to magically disappear just because a particular candidate wins an election.  Our debt levels are absolutely exploding, our economy has plunged into a depression, there is widespread civil unrest in our streets, our nation is more divided than it has ever been in my entire lifetime, and our society is literally coming apart at the seams as just about every form of evil that you can possibly imagine is growing rapidly all around us.

But there are a whole lot of people out there that want to stick their heads in the sand and pretend that everything is going to be just fine.

If you would like to be just like them, the following are 20 things that you must believe in order to convince yourself that everything is going to turn out okay somehow…

#1 “Being 27 trillion dollars in debt is not a problem.  We can go into as much debt as we want, and future generations of Americans won’t mind at all that we are dumping all of our bills on them.”

#2 “The fact that the Federal Reserve creates trillions of dollars out of thin air whenever a major crisis erupts doesn’t really matter.  We can debase the reserve currency of the world as much as we want and the rest of the globe will continue to use it and the inflation rate in this country will never get out of control.”

#3 “Antifa is just an idea, and all of the rioting, looting and violence will somehow magically come to an end after the upcoming election.”

#4 “When I see people smashing windows, setting buildings on fire and shooting at police officers, I just remember to remind myself that those are really just peaceful protesters.”

#5 “It is perfectly okay that a former intern for Joe Biden will moderate the next presidential debate.  He has promised that he will be perfectly neutral, and I believe him.”

#6 “Kamala Harris will never become president if Joe Biden wins the election, because Joe Biden is so strong and vigorous that he could easily make it through two terms.”

#7 “The Democrats would never pack the Supreme Court, because Joe Biden and Kamala Harris are way too decent to ever allow that to happen.”

#8 “Once the election is over, the big social media companies will give us our freedom of speech back because that is the right thing to do.”

#9 “It makes perfect sense that the stock market has soared to record highs while the real economy has plunged into a horrifying depression.  This isn’t a bubble, and stock prices will just keep going up indefinitely.”

#10 “It is perfectly okay that 40 percent of U.S. children are being born outside of marriage.  America can certainly prosper without strong marriages and strong families because so many other great civilizations have shown that it can be done.”

#11 “Even though study after study has shown that antibodies fade very rapidly and that any immunity is very short-lived, a vaccine will save us from this pandemic.”

#12 “Once this virus has been eradicated, they won’t make us wear masks anymore, and they certainly wouldn’t try to force people to take vaccines if they don’t want them.”

#13 “Now that everyone has seen how much chaos this pandemic has caused, evil people would never purposely release more deadly viruses because they wouldn’t want to kick us while we are down.”

#14 “There is no need to worry that our relationships with Russia and China have gone down the tubes, because our military is so strong that nobody would ever dare getting into a military conflict with us.”

#15 “Even though the head of the UN World Food Program is warning that there will be famines of ‘biblical proportions’, I am sure that any food shortages are just temporary and everyone in the world will have plenty of food to eat in 2021 and beyond.”

#16 “More than 60 million Americans have filed new claims for unemployment benefits this year, but most of those jobs will quickly come back, and we are on the verge of the greatest era of economic prosperity in U.S. history.”

#17 “The rapid rise in crime rates in cities all over the nation is just temporary.  I am sure that things will go back to normal in 2021.”

#18 “We can ignore the hundreds of earthquakes that are shaking the west coast, because ‘the Big One’ probably won’t happen for thousands of years.”

#19 “The fact that tens of millions of Americans will be mailing in their ballots won’t cause any issues at all.  All of the ballots will be counted quickly, efficiently and accurately, and the American people will remain perfectly calm while we wait for days or even weeks to find out the winner of the presidential election.”

#20 “Even though more than 60 million children have already been aborted, and even though every form of evil that you can possibly imagine is exploding all around us, there will never be any serious consequences for our actions and the greatest days for America are still ahead of us even though we completely refuse to change our ways.”

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Why Is The Mainstream Media Signaling That A Much Larger Stock Market Decline Is Coming?

Why would the mainstream media want all of us to believe that stock prices are about to fall dramatically?  Just like we witnessed earlier this year at the beginning of the pandemic, the corporate media is full of reports that seem to imply that it is a virtual certainty that stock prices are going to go even lower.  Of course it would make perfect sense for stock prices to go down because they are incredibly overvalued right now, but normally the mainstream media does not try to tell us where stock prices are going next.  And the fact that so many news outlets are repeating the same mantra right now is particularly troublesome.

Without a doubt, the momentum of stock prices is taking us in a downward direction at the moment.  All of the major stock indexes have posted declines for three weeks in a row, and it looks like this week could make it four.

As I write this article, the Dow Jones Industrial Average is down 4.5 percent for the month, the S&P 500 is down over 6 percent, and the Nasdaq has fallen about 8.5 percent.  Overall, the market is on pace for the worst September in 18 years, but the corporate-controlled media seems convinced that things are going to get even worse.  For example, the following comes from a CNBC article entitled “Stock sell-off accelerates and is expected to get worse before it gets better”

Stock investors focused on new worries about the coronavirus and economy, selling into a market Monday that was already technically shaken and set for further declines.

I looked for evidence that would back up the assertion that the market is “set for further declines” in the remainder of that article, but I didn’t see any.

Without a doubt, I definitely agree that stock prices have a long, long way to fall, but there is no reason why they couldn’t bounce back for the rest of this week.

So it seems odd that CNBC would be so dogmatic.

And USA Today just posted an article that suggested that we are facing “a looming global financial crisis”…

“Massive fiscal and monetary policy stimulus” that came together to prop up the economy has caused debt to balloon and stocks to become potentially overvalued, posing “the serious risk of a looming global financial crisis as central banks begin to shift away from easy (monetary) policy at some point in the years to come.”

Once again, I definitely agree that a global financial crisis could erupt at any time.

But normally we don’t see the mainstream media using such language.

At this point, we are less than a month and a half away from the election, and many have suggested that uncertainty about the outcome could weigh heavily on the market.  In fact, CNN is telling us that we should anticipate “that volatility will be high” during the period surrounding election day…

Market experts have warned that volatility will be high toward the end of the year and around the election, especially because many expect the winner won’t be known immediately.

Could it be possible that there will be an attempt to disrupt the market in an attempt to make one of the candidates look bad?

I know that would sound absurd during normal times, but these are definitely not normal times.

And ultra-wealthy insiders definitely seem to believe that something is coming, because they have been selling stocks like crazy recently.  According to Zero Hedge, “during the week ended September 11, insiders sold $473 million in shares while only buying $9.5 million.”

I don’t know about you, but those numbers definitely got my attention.

Of course stock prices should have never, ever gotten so high in the first place.  The unprecedented market rally that we have witnessed in 2020 has occurred during a time when we have actually plunged into a new economic depression.  Almost every day I share more horrific economic numbers with my readers, and here are some more from the New York Post

Nearly 90 percent of New York City bar and restaurant owners couldn’t pay their rent in August, heightening the continued crush the coronavirus shutdown has inflicted on Gotham’s economy.

Eighty-seven percent of bars, restaurants, nightclubs and event spaces in the five boroughs could not pay their full August rent, according to data from 457 businesses surveyed between Aug. 25 and Sept. 11, in a new study released Monday by the nonprofit NYC Hospitality Alliance.

How in the world can anyone possibly use the phrase “economic recovery” when we are seeing numbers like that?

We have never seen an economic downturn of this magnitude in all of modern American history, and many believe that what we have experienced so far is just the beginning.

With each passing day, we see more societal turmoil in the headlines, and the upcoming election threatens to bring our societal tensions to a thundering crescendo.

In such an environment, a huge stock market crash would not be surprising at all, and some are suggesting that the shove that pushes us over the edge could actually happen on purpose.  In his most recent video, Greg Mannarino warned that the upcoming financial crash “is going to be epic”, and he told his audience that our largest financial institutions could collapse the market any time that they want

“They can crush the global economy or the market. The global economy, which is the middle class, is already crushed, ok. They can destroy the stock market like this [snaps fingers.] And you can see it playing out right now. So all to of this is more than likely going to get brushed under the rug as it always does,” Mannarino says of the banks controlling the world.

It is not unusual for pundits such as Mannarino to make such bold predictions, but what alarms me is that the mainstream media is also strongly suggesting that a market crash is coming.

Even if the mainstream media is not attempting to do it on purpose, their words can become a self-fulfilling prophecy as countless investors spooked by their reports pull money out of the marketplace.

Sadly, this is one instance in which the mainstream media will ultimately be proven correct.  Whether it happens in the immediate future or not, the truth is that we are heading for a financial meltdown that will be absolutely horrifying.

In recent months, the Federal Reserve was able to reinflate our financial bubbles one more time, and hordes of investors eagerly jumped aboard the rally train.

But now that train is in danger of being derailed, and those that do not hop off in time could find themselves plunging into a nightmarish financial abyss.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

2020 Has Been A “Nightmare Year” For America, And The Economic Fallout Is Just Getting Started

Most of us have never experienced a year that has been as tough as 2020 has been for our nation.  It has just been one major crisis after another, and the month of September has brought us even more trouble.  The worst wildfire season in the history of the state of California has been making headlines day after day, and now the passing of Ruth Bader Ginsburg threatens to escalate the political turmoil in this nation to an entirely new level.  Many had such high hopes for 2020, but at this point this year has been such a disaster that USA Today is calling it “an American nightmare”, and it is difficult to argue with their reasoning…

First the pandemic, which divided us, economically devastated us, and has killed nearly 200,000 of us. Then the racial unrest, erupting at the deaths of more Black Americans at the hands of police: George Floyd, Breonna Taylor, Rayshard Brooks, Daniel Prude.

Now the extreme weather. For only the second time in history, the National Hurricane Center has moved into the Greek alphabet for storm names. This season’s wildfires are bigger, deadlier and more frequent than in years past. In the West, people can’t breathe.

And now a member of the U.S. Supreme Court has died with about a month and a half to go until we get to election day.

The shocking death of Ruth Bader Ginsburg has stunned the entire country, and I will share my analysis on where things could go from here on The Most Important News later tonight.

In this article, I want to focus on the economic impact that all of this chaos is having.

Since the pandemic first started, more than 60 million Americans have filed new claims for unemployment benefits, and that is a threshold that has never been crossed before in all of our history.

And we have also seen businesses shut down at a pace that is hard to fully grasp.  If you can believe it, more than 160,000 businesses listed on Yelp say “that they have closed”

Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll.

As of Aug, 31, 163,735 businesses have indicated on Yelp that they have closed. That’s down from the 180,000 that closed at the very beginning of the pandemic. However, it actually shows a 23% increase in the number of closures since mid-July.

I was most alarmed by that last sentence.

Things were supposed to be getting a lot better by now, but instead we have seen “a 23% increase in the number of closures since mid-July”.

That is not good.

And the percentage of businesses on Yelp that are indicating that their closures are “permanent” just keeps rising

In addition to monitoring closed businesses, Yelp also takes into account the businesses whose closures have become permanent. That number has steadily increased throughout the past six months, now reaching 97,966, representing 60% of closed businesses that won’t be reopening.

So what this means is that none of us should be expecting a return to what we considered to be “normal” prior to 2020.

In fact, it is likely that we will see large numbers of businesses continue to fail in the months ahead.  According to Fox Business, a whopping 40 percent of all U.S. restaurants “could go under within the next six months”…

At least 40% of restaurant operators struggling to stay afloat during the coronavirus pandemic believe their businesses could go under within the next six months if there is no additional stimulus package from the federal government, according to a new survey by the National Restaurant Association.

With one in every six restaurants closed permanently or for the “long term,” the industry is on track to lose $240 billion in sales by the end of the year, according to the National Restaurant Association’s findings on the impact COVID-19 has on the restaurant business.

So what do you think?

Should we bail out the restaurant industry?

By the way, the airline industry really wants a bailout too.

And just about every other industry is looking for government help as well.

The reason why almost everyone has their hands out is because we have plunged into a crippling economic depression, and everyone is starting to realize that there is no end in sight to this downturn.

Of course most average citizens also want another round of “stimulus checks” from the federal government, and we are being told that there is a really good chance that “the economy backslides” if that does not happen…

Lawmakers remain deadlocked over a measure to provide another round of $1,200 checks to most households and more aid to struggling small businesses and unemployed Americans. Most saw the money they received from Congress’s $2.2 trillion CARES Act run dry over the summer.

“If they don’t” approve another stimulus, “they’re taking a huge risk, says Mark Zandi chief economist of Moody’s Analytics. “The odds are better than even the economy backslides.”

We have already stolen several trillion dollars from future generations of Americans so far this year to fund “stimulus packages”, and so a lot of people figure that it probably wouldn’t make that much of a difference if we stole several trillion more to fund another one.

And the Federal Reserve has been flooding the financial system with so much new money that it makes everything that they have ever done in the past look completely insignificant.

In the process, our authorities are systematically destroying the reserve currency that the entire globe depends upon, but at this point very few people seem to care.

So we continue to steamroll toward economic oblivion, and nobody is even thinking about hitting the brakes.

In the USA Today article that I quoted at the start of this piece, the author stated that it is “impossible to know if the worst is behind us or still lies ahead”…

Many of us are vacillating between horror and disbelief at what can only be described as an American nightmare. Devastation doesn’t cover it. It’s impossible to know if the worst is behind us or still lies ahead.

Of course that is not true at all.  In fact, it is exceeding clear that what is ahead of us is going to be much, much worse than what we have already experienced.

But most Americans don’t want to hear that.

Most of us just want to cling to the belief that someday we will wake up and everything will have returned to normal.

That may happen in fairy tales, but this is real life, and real life simply does not work that way.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.com.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  By purchasing the book you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

Is The Nationwide Coin Shortage Being Used To Push Us Toward A Cashless Society?

The coin shortage in the United States is becoming quite severe, and a lot of people are deeply concerned about where this might be leading us.  But if you don’t run a business or deal with coins on a regular basis, you may not even know that it is happening.  On Monday, my wife told me that a lot of people on Facebook were talking about this nationwide coin shortage, and then on Tuesday Ricky Scaparo posted a couple of news stories about it, so I decided that I better start looking into this.  Because if this coin shortage is going to be used to push us toward a cashless society, that makes it a really big deal.

What I discovered is that this coin shortage has actually been intensifying for quite a few weeks, and on June 11th the Federal Reserve issued a statement in which they announced that coin rationing would begin on June 15th

Consequently, effective Monday, June 15, Reserve Banks and Federal Reserve coin distribution locations began allocating coin inventories. To ensure a fair and equitable distribution of existing coin inventory to all depository institutions, effective June 15, the Federal Reserve Banks and their coin distribution locations began to allocate available supplies of pennies, nickels, dimes, and quarters to depository institutions as a temporary measure. The temporary coin allocation methodology is based on historical order volume by coin denomination and depository institution endpoint, and current U.S. Mint production levels. Order limits are unique by coin denomination and are the same across all Federal Reserve coin distribution locations. Limits will be reviewed and potentially revised based on national receipt levels, inventories, and Mint production.

It turns out that the rationing has been a lot stricter than many people originally anticipated.  One small bank in Tennessee that would normally use “400 to 500 rolls of pennies each week” is now only being given 100 rolls per week…

“It was just a surprise,” said Gay Dempsey, who runs the Bank of Lincoln County in Tennessee, when she learned of the rationing order. “Nobody was expecting it.”

Dempsey’s bank typically dispenses 400 to 500 rolls of pennies each week. Under the rationing order, her allotment was cut down to just 100 rolls, with similar cutbacks in nickels, dimes and quarters.

Businesses of all types rely on their banks to supply them with the change they need for their customers, and now many of those businesses are being forced to make major changes because of this coin shortage.

In fact, it is being reported that some businesses around the country are starting to put up signs asking their customers to either pay with exact change or with a card…

First to go were masks, then toilet paper and now there’s a national coin shortage. The 7-Eleven on Oakwood Ave. has a sign asking customers to pay in exact change or by card.

According to the First News Now Facebook, several residents across Tioga County, Pennsylvania mentioned that there’s a coin shortage throughout the area.

Some businesses, like Lowes in Mansfield, Pennsylvania, have posted signs in their stores to inform their customers before they check out with their purchases.

And I was stunned to hear that cash has been “temporarily” banned at all Meijer self-checkout lanes

Cash temporarily won’t be accepted at Meijer self-checkout lanes due to a national shortage of coins.

Customers who want to pay with bills will have to visit Meijer’s staffed checkout lanes for the time being, according to a company statement. The change is in effect at most of Grand Rapids-based retail giant’s 250 supercenters.

Hopefully this coin shortage will start to subside once this coronavirus pandemic begins to fade, but right now there are no indications that this pandemic is going to fade any time soon.  The mainstream media keeps telling us that the pandemic is getting worse, and the number of new cases being reported around the world has been surging in recent weeks.

From the very beginning of this pandemic, we have been told that using cash is potentially “dangerous” because it could possibly spread the virus.  The following comes from an article by Claudio Grass

Even in the early stages of the pandemic, when essentially nothing was concretely known about the virus itself or its transmission, the seeds of new fears were already planted by sensational media reports and fear-mongering political and institutional figures. The insidious idea that “you can catch Covid through cash” might have been prematurely spread, but it did stick in most people’s minds. This is, of course, understandable, given the extremely high levels of uncertainty and anxiety in the general public. Wanting to eliminate potential threats was a natural instinct and so was the urge to take back at least some control over our lives, after they’d been suddenly thrown into utter chaos in the wake of the global economic freeze.

Another factor that concretely helped the shift away from physical cash was an entirely practical one. Given the lockdown measures and the new “social distancing” directives that were enforced all over the world, it became difficult to use cash, even if you really wanted to, or had no other means of transaction, as is the case for billions of people. With physical stores being forced to shut down and with more and more online shops offering contactless delivery (either as a choice or as a service requirement), the need for cash very quickly gave way to digital payments.

Of course central banks all over the globe have been encouraging the use of digital payments for a very long time, and so this pandemic has given them a golden opportunity to accelerate that agenda.

Here in the U.S., there has always been a lot of resistance to the idea of a cashless system, but some countries in Europe such as Sweden have almost entirely done away with cash at this point, and China is shifting in the direction of a cashless society at a pace that is breathtaking.

A lot of people like the speed and efficiency of cashless payments, but what people need to understand is that a system that is entirely cashless would allow governments and financial institutions to monitor us, track us and control us like never before.

It has often been said that “cash means freedom”, and the total abolition of physical cash would be a major blow to everyone that still loves liberty.

Unfortunately, the entire world has been steadily moving in a cashless direction for many years, and this pandemic has given opponents of cash a window of opportunity to push us down that road even faster.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

As The Stock Market Soars, The Numbers Say That The Real Economy Is In The Midst Of A Historic Crash

Have you been watching the madness that has been unfolding on Wall Street?  Even though we are in the middle of the worst global pandemic in 100 years, and even though rioters and looters have been turning our major cities into war zones, stock prices have been going up day after day.  In fact, the Nasdaq closed at an all-time record high on Monday.  Sometimes people ask me to explain this rationally, and I can’t, because the Federal Reserve has transformed our “financial markets” into a total mockery at this point.  The real economy is literally collapsing all around us, but thanks to Fed intervention stock investors are doing just fine.  It has been absolutely disgusting to watch, and if Adam Smith could see what was happening he would be rolling over in his grave.  Unfortunately, thanks to our rapidly declining system of education most Americans don’t even know who Adam Smith is anymore.

I can’t recall another time in modern U.S. history when stock prices skyrocketed as the U.S. economy plunged into a recession.  What we have been witnessing has truly been extremely bizarre, and it will be fascinating to see how long it can last.

Meanwhile, the real economy is a giant mess.  On Monday, the National Bureau of Economic Research finally got around to letting us know that a recession has officially begun

It’s official: The United States is in a recession.

The National Bureau of Economic Research said Monday the U.S. economy peaked in February, ending the longest expansion in U.S. history at 128 months, or about 10½ years.

In truth, the announcement codifies the painfully obvious. States began shutting down nonessential businesses in mid-March to contain the spread of the coronavirus, halting about 30% of economic activity and putting tens of millions of Americans out of work.

And in other news, the sky is blue and the moon is not made out of cheese.

Anyone with half a brain can see that the economy is falling apart.  For example, we just learned that U.S. factory orders were down 22.3 percent in April compared to a year earlier…

Having collapsed by a record 10.4% MoM in March, April factory orders were expected to accelerate even lower and it did. However, the 13.0% plunge in April was modestly better than the 13.4% MoM drop expected… but is still the worst in American history.

Year-over-year, factory orders collapsed 22.3% – the worst since the peak of the financial crisis.

Of course it is not that difficult to find a number that is even worse than that.

Just look at heavy truck sales.  Last month they were down a whopping 37 percent from the same month in 2019…

The last three months have been catastrophic for segments of the trucking business, after an already tough period that started in late 2018. In May, orders for Class 8 trucks – the heavy trucks that haul much of the goods-based economy across the US – plunged 37% from the  low levels in May a year earlier, and by 81% from May two years ago, to 6,600 orders, according to estimates by FTR Transportation Intelligence today.

Not to be outdone, the number of corporate bankruptcies shot up 48 percent last month compared to the same period a year ago…

Corporate bankruptcies spiked during May as the coronavirus pandemic slammed the U.S. economy, pushing the number of filings to levels recorded in the wake of the 2007-09 recession.

U.S. courts recorded 722 businesses nationwide filing for chapter 11 protection last month, a yearly increase of 48%, according to figures from legal-services firm Epiq Global.

But every time we get another horrific economic figure, the stock market goes even higher.

The worse the news gets, the more investors seem to like it.  Week after week, we have seen unprecedented numbers of Americans file for unemployment benefits, and at this point a grand total of more than 42 million Americans have lost a job since this pandemic began.

And yet investors keep taking these job losses as signs that they should buy even more stocks.

Perhaps someone should spread a rumor that a planet-killing asteroid is about to hit us, because that would probably really get investors salivating.

Of course most ordinary Americans don’t get to live in a Fed-fueled fantasy world, and this new economic downturn is hitting most of them extremely hard.

In fact, it is being reported that approximately a third of all Americans “are now showing signs of clinical anxiety and depression”…

In the wake of the COVID-19 pandemic and resulting economic crash, which triggered depression-like unemployment with 40 million initial claims filed in ten weeks, a third of Americans are now showing signs of clinical anxiety and depression, according to new data collected by the Census Bureau. This, by far, is the most comprehensive and troubling sign yet of the psychological toll inflicted on Americans due to months of lockdowns.

The Census Bureau contacted one million households between May 7 and 12, and about 42,000 responded, said The Washington Post. The survey was about 20 minutes long and buried deep within, several questions asked respondents about depression and anxiety. Those who answered provided a laggard but clearest snapshot into people’s mental state at the tail end of the lockdown, where many folks were subjected to isolationism, virus fears, and widespread unemployment.

That is the most alarming number that I have shared with you so far in this article, but I am about to share with you some numbers that are even more alarming.

In recent days, we have watched rioters destroy large sections of our major cities all across America.  But when asked about “violent protests”, a surprising percentage of Americans actually support them…

A broad majority of Americans say the peaceful protests happening all across the country after police violence against African Americans are justified (84% say so), and roughly a quarter (27%) say violent protests in response to police harming or killing African Americans are justified. Both figures are higher than they were when similar protests rose in the fall of 2016. Then, 67% saw peaceful protests as justified while 14% felt violent protests were.

There isn’t much of a racial or partisan difference over whether peaceful protests are justified now, but the gaps are larger over violent protests. Among Democrats, 42% consider violent protests justified in response to police violence against African Americans, while just 9% of Republicans agree.

Yes, you read that last sentence correctly.

42 percent.

Unfortunately, a lot more economic pain is on the way, and that is just going to fuel even more rioting, looting and violence.

These are definitely not “the best of times” no matter what stock market investors seem to think.

We have entered a deeply disturbing new chapter in American history, and life in this country will never be the same again.

About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I need those that republish my articles to include this “About the Author” section with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with all many people as we possibly can.

Do NOT follow this link or you will be banned from the site!