The U.S. stock market opened this year with the biggest opening day drop in 84 years. The Western media was quick to point the finger of blame again at China, as China was busy dealing with its own market troubles and ended-up having to close the stock market in response. But both China and the U.S. have a problem with fractional reserve banking , inflation, and debt. Both countries are facing federal reserve-induced market troubles. When the bubble bursts, it isn't likely that we are going to hear the federal reserve take responsibility for its self-destructive monetary schemes.
Central banks around the world have been busy printing a number of nations into debt. Europe is engaged in negative interest rates, Japan is forging ahead with outright inflation, China is devaluing its own currency and opting for extreme financial market intervention, and other nations are similarly following their own self-destructive monetary path. “[The central banks have] been making terrible mistakes, and we're going to pay the price for it,” says American businessman and investor Jim Rogers.
When asked recently whether or not we can expect to see a successful year in the U.S. market, Rogers responded by saying that “it's probably not going to be a good year,” if [the historic drop at] the start of the year is any guide to what the rest of the year might hold. He isn't the only one. Other experts like Jeff Berwick, Mike Maloney, Rick Rule, and more, have also expressed their concern for what 2016 might hold.
The reality is that central banks are self-destructive and they destroy precisely what they claim to protect and strengthen. Central banks have been allowing countries to “borrow themselves rich” as Mike Maloney puts it. The central bank policies have fostered numerous bubbles within the market, from real estate to commodities and more. All of the entrepreneurs and business-owners who are doing successful presently, are doing so despite central banks and their intervention in the market. If we lived in a world with no central banks, there is no telling how much more success we might see. Thanks to the actions and existence of the central bank in the U.S. and Canada alone, the dollar and loonie have both lost over 90 percent of their value and purchasing power.
It's not all gloom and doom however. There are things that you can do in order to try and protect yourself. You never know when there could come a time when the bank might take your money from your account or prevent you from taking it out yourself; as we've seen happen in the past. When people have other alternatives for themselves (cash on hand, bitcoin, etc) and they take the time to diversify their wealth, then they are more likely to have somewhere to turn whenever they face trouble. Also, by identifying what is contributing to the problems that we are facing currently, like centralization, fractional reserve banking, and monopoly on currency creation, then we can better appreciate and understand coherent solutions like currency competition.
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