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Martin Armstrong-Economic Downturn Will Take World to War

from Greg Hunter:

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1 comment to Martin Armstrong-Economic Downturn Will Take World to War

  • Thomas

    Talk about a complete distortion of history. He says that gold was confiscated because the dollar was getting too strong. That’s a distortion of the truth and complete bullshit. The Brits were broke after WW 1, as was the rest of Europe, and they printed currencies like crazy during the war and after, having gone off the gold standard before the war. So yes, the dollar was getting stronger, but to help out Britain because their currency began to devalue, an agreement between Montagu Norman (Bank of England) and Benjamin Strong (US Federal Reserve Bank of NY) was made and the US began devaluing the dollar by issuing masses of trade notes and dollars. So the dollar began to lose it’s purchasing power with it’s own experience with massive inflation of dollars and credit. Then Britain had their big debacle with re-pegging the pound sterling to gold and they didn’t make allowance for their devalued currency.

    Just read Professor Murray Rothbard’s take on the great depression.
    https://mises.org/library/americas-great-depression

    Why wouldn’t Martin directly answer Greg Hunter’s question about GOLD (“Would gold be a good thing to have?”) This is asked at about the 8:50 minute mark. Martin never directly answers the question up to this point and dances around with a history lesson of “what is real wealth”.

    This guy says that a “basket of currencies” will be used in the future as the new “world reserve currency”, but NOT managed by the corrupt IMF. Wow Martin, wouldn’t GOLD be a better? Please, don’t say anything positive about precious metals. Wouldn’t want you thrown back in prison.

    Having not directly answered the question on gold, Greg Hunter again asks at the 13:40 minute mark about whether he thinks GOLD is a good asset to hold. Martin states right off the bat that gold is “a hedge against government” and conflates gold and silver to any tangible hard asset that has value, then continues rambling on… and on…

    Listen for yourself and decide for how much you trust what this guy says.

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