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The United States Has Become A Banana Republic

Michael Snyder
January 4th, 2021
The Economic Collapse Blog
Comments (8)

This article was originally published by Michael Snyder at The Economic Collapse Blog. 

If we continue destroying the U.S. dollar at our current pace, toilet paper will eventually be more valuable than U.S. dollars.  I know that sounds absolutely crazy, but it is true.  Once the COVID pandemic hit the United States, those that control the levers of power in this country decided to go “full Weimar” and they never looked back.

As a result, the size of our money supply is rising at a rate that would have been unimaginable just a few short years ago.  To illustrate what I am talking about, I would like for you to check out this chart that was posted on Twitter by James Turk.  As you can see, M1 was up by more than 50 percent in 2020.

We’ve never had a year like that in all of U.S. history.  What we are doing is literally insane, but most Americans aren’t even aware of what is happening because the mainstream media isn’t talking about it.

If you are not familiar with “M1”, here is a definition that comes from Investopedia

M1 is the money supply that is composed of physical currency and coin, demand deposits, travelers’ checks, other checkable deposits, and negotiable order of withdrawal (NOW) accounts. M1 includes the most liquid portions of the money supply because it contains currency and assets that either are or can be quickly converted to cash. However, “near money” and “near, near money,” which fall under M2 and M3, cannot be converted to currency as quickly.

When new money enters the system, every dollar that you are currently holding becomes less valuable.

And if your paycheck does not rise at the same rate that the money supply is rising, that means that your paycheck becomes less valuable as well.

It is helpful to think of our money system as a pie.  When more dollars are added to the pie, your share of the pie steadily becomes smaller.

So who does benefit when the pie is expanded?

The ultra-wealthy do, and I will discuss that more below.

But first, I wanted to share another chart with you.  The first chart from James Turk showed how M1 has been rising on a percentage basis, and this next chart which comes directly from the Federal Reserve shows how M1 has been rising on an absolute basis…

Just look at that for a moment.

It truly is breathtaking.  M1 has literally been rising at almost a vertical rate, and it makes all of the inflation that has come before look almost meaningless.

This is why the stock market keeps hitting record high after record high.  Stocks started to crash when COVID first started to spread in the United States, and the Federal Reserve decided to do whatever was necessary to rescue the markets.  The “unprecedented” response that we witnessed ended up being “a key driver of billionaire wealth” in 2020…

A key driver of billionaire wealth concentration was the unprecedented monetary policy response to stabilize financial markets in the early days of the pandemic, which spurred the stock market’s gravity-defying rise. When Wall Street was on the verge of panic in March, the Federal Reserve intervened with the promise of low rates and an open-ended liquidity spigot.

In addition, Congress just kept passing “stimulus package” after “stimulus package” in a desperate attempt to “rescue” the economy.

But in the process, they borrowed and spent trillions of dollars that we did not have, and that also helped to fuel our transition into hyperinflation.

The good news is that hyperinflation is not showing up at the grocery store or at Walmart yet.  Eventually, it will happen, but so far consumer prices are just rising at a pace that is quite a bit brisker than usual.  Where we are seeing hyperinflation is in stock prices, high-end real estate in rural and suburban areas, and in other areas of the economy that the ultra-wealthy have been pouring their money into.

Despite the fact that we just endured one of the worst economic years in U.S. history, 2020 was actually a banner year for billionaires

Between roughly mid-March and Dec. 22, the United States gained 56 new billionaires, according to the Institute for Policy Studies, bringing the total to 659. The wealth held by that small cadre of Americans has jumped by more than $1 trillion in the months since the pandemic began.

According to a December report issued jointly by Americans for Tax Fairness and the Institute for Policy Studies using data compiled by Forbes, America’s billionaires hold roughly $4 trillion in wealth — a figure roughly double what the 165 million poorest Americans are collectively worth. The 10 richest billionaires have a combined net worth of more than $1 trillion.

Last year the rich got a whole lot richer, and the poor got a whole lot poorer.

As I discussed the other day, 2020 was a “personal financial disaster” for 55 percent of all Americans.  The year ended with close to 20 million Americans still receiving government unemployment benefits, and poverty and homelessness have been exploding all around us.

In some cases, people were waiting in lines that were up to 12 hours long just to get a couple of bags of groceries at food banks around the nation.  We haven’t seen anything like this since the Great Depression of the 1930s, and many are expecting things to get even worse in 2021.

And with each passing day, more businesses are closing and more Americans are being laid off.

The retail sector has been hit particularly hard.  The following comes from Axios

Malls are going belly up. Familiar names like J.C. Penney, Neiman Marcus and J. Crew have filed for bankruptcy. Increasingly, Americans’ shopping choices will boil down to a handful of internet Everything Stores and survival-of-the-fittest national chains.

And what we have experienced so far is just the tip of the iceberg.  One recent report projected that “100,000 brick-and-mortar U.S. retail stores will close by 2025”

A research report from UBS predicts that 100,000 brick-and-mortar U.S. retail stores will close by 2025, in a trend that started before the pandemic and has accelerated amid coronavirus-related shutdowns.

Our national landscape is already littered with abandoned stores and restaurants, and they are telling us that it is only going to get worse.

What is our country going to look like as this process plays out?

Of course our authorities will just respond to every new crisis by printing even more money.

That is what they did down in Venezuela, and now just about everyone in Venezuela is a millionaire.

But most of those “millionaires” are living in crushing poverty because the money is absolutely worthless.

Sadly, many other countries are doing the same thing that the U.S. is doing, and so this hyperinflationary spiral is not likely to end any time soon.

But let there be no doubt that we are also in a global economic depression.  Global GDP is about 8 percent lower than it was before the pandemic started, and the outlook for 2021 does not look promising at all.

If you think that there is a way for this economic story to end well, just go back and look at the M1 chart from the Federal Reserve one more time.

Every other time this has been tried in human history, the story has ended badly.

Our story is going to end badly too, and every American needs to get prepared to survive in a very painful hyperinflationary environment.

***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 anyway 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.

 

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    Author: Michael Snyder
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    Date: January 4th, 2021
    Website: http://theeconomiccollapseblog.com

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    1. Darth Skippy says:

      I thought, it was anti-free market, when I heard notoriously-dirty Communists blaming supply issues on hoarders and speculators. I wanted to blame their state or model of govt (looking increasingly like our own).

      But, tacky people packed their garages, here, hoping to become rich on toiletries.

      State monopolies punished scalping, here, or else, there definitely could have been been a buying panic, like under the Wiemar regime — during the time it took to restock the items.

    2. Darth Skippy says:

      As for brick-and-mortars:

      They used to have a version of the store, in which you customers never walked the aisles.

      You were supposed to request the item, at the front register, and it would be brought to you, from the back.

      I couldn’t begin to tell you all the monkeyshines we caught doing what, under our typical store model. Good riddance to Black Friday personalities, who can’t find something on a computer or iPhone.

    3. Bill says:

      I read this on Brighteon.social, which is an alternative to youtube; Pelosi’s husband received federal grants to purchase land for the high-speed rail from Sacramento to San Diego, he sold it to Sen. Feinstein’s husband who also used federal grants to buy it, then in turn sold the land again to the high-speed rail people who also used federal grants. So there appears at least two high level official insiders used the tax payers money 3 times to buy the same real estate, to enrich themselves.

    4. Mitch says:

      I’ve been staying away from Amazon, Walmart, etc and I’m having a devil of a time trying to buy decent wool thermal underware.

      It looks like these lockdowns have hosed our small businesses.

    5. Andrea.Iravani. says:

      Pseudolutions Offered by The Psychopaths

      One cannot ignore the ways that different countries around the world attempted to survive and recreate themselves in the aftermath of The Great Depression. In America, those that were most reponsible for The Great Depression, and who also reaped most of the rewards during The Roaring Twenties, should have been imprisoned and were exalted as national heroes in the eyes of some for their Superman Complexes in providing false solutions designed to fail as a response to the problems that they largely created, among them, the Rockefellers, Morgans, Carnegies, and Mellons. 

      Now the individuals largely responsible are the Silicon Valley Titans in concert with banks run by morally depraved and mentally incompetent people, and the government filled with morally depraved and mentally incompetent people as well. 

      The Nazis made many mistakes, and to single out an entire minority race, in addition to be willing to look the other way when many of  the guilty parties were Christian Germans is irrational. 

      The corruption was the problem during The Roaring Twenties and The Great Depression, just as corruption is currently the problem. 

      The corrupt Machine demands authoritarianism so that it is not held accountable for crimes against humanity and fraud. 

      Guilty parties in the media that are propagandists and pseudo-intellectuals, the majority of whom have PhDs. and claim to be experts, attempting to intimidate people into silence through an elitist meritocracy devoid of all intellect, reason, and truth, including and especially in universities where they hope and prey ( not a typo) that people will succumb to expert bias, because it is their only hope. The profanity is intended to humiliate them for their crimes against humanity. They are not entitles to be treated with respect. They have earned contempt. 

      The Great Reset and Green New Deal are the total enslavement of humanity. Manufacturers, manufacturing countries, oil companies, and oil producing countries would make more money by doing nothing at all by being awarded carbon credits, than they would by producing things that people use for survival, and enjoyment. Anyone that would attempt to step up to the plate to fill the sudden complete void of all goods being produced would be severely punished. People that use goods and services would pay extraordinary costs for CO2 production. Crytocurrencies would force people to heavily pay the price for survival since it relies on electricity as well as products that produce CO2 in the manufacturing process, or be microchipped ending all privacy, which is of course their prefered course of action for humanity. So, we would have the Rockefellers, Gates, Bezos, and others that just reaped enormous rewards by destroying the world get even richer by doing nothing, and then punish anyone else that tries to fill the demand that they suddenly stopped.

      It would result in the largest poverty and starvation of billions of people in the world, which is exactly what the Machine wants!

      The machine faced two choices, get busted for the third round of mass scale financial for the third time in the past twenty years, or try to simulate a simultaneous crisis to use as a fall guy for their financial fraud and total corruption. It was a move of total desperation. It didn’t work. They were  busted again, this time almost immediately. 

      They say that a drowning victim doesn’t survive the the third time going under. I do not know if that is true or not. I have never watched anyone drown before, but that is what they say. 

      I think that they are finished once and for all. 

      Way too much has happened in the past twenty years to just overlook it all. These were mass crimes against humanity on a global scale.

      Munchausen’s Syndrome on a National Scale as Official U.S. Health Care Policy

      Munchausen’s Syndrome is a form of extreme mental illness in which individuals cause symptoms that mimick actual diseases, frequently by poisoning their victims. Those with Munchausen’s Syndrome are often in positions of authority, and those with Munchausen’s are also frequently employed in the health care sector. 

      The CIA also has individuals with Munchausen’s Syndrome. The CIA has resorted to such tactics in the past. 

      It is my hypothesis that Corona-Thrax was developed so that individuals that are being extrajudicially murdered with 5G mimmick symptoms of corona-thrax. Anthrax causes symptoms that affect the brain, lungs, heart, blood vessels, and kidneys. These sympyoms have also been reported in Multi-System Inflamatory Disease and Pediatric Multi-System Inflamatory Disease in regions that recently installed 5-G and has been diagnosed as covid. 5G uses microwaves and at the high end of the frequency range it vibrates water molecules. Microwave ovens cook food by vibrating molecules. The vibrating molecules causes friction. The friction causes the heat which cooks the food, like rubbing two sticks together, and creating a fire that way, which I have yet to succeed at doing, but it can and has been done, and it is a well known fact. Multi System Inflamatory Disease has been associated with Covid, which sounds similar to anthrax, and almost no physicians in America have ever treated or seen an anthrax victim before. They would be unlikely to be able to spot an anthrax victim if they ever saw one, and they have never seen 5-G effects until not either. 

      The anthrax vaccine caused narcolepsy in military recipients. When the corona outbreak first started in China, the individuals collapsing in the street appeared to suffer from narcolepsy as well. Bill Gates has a Gavi division in China. Chinese people may have been experimented on without their knowledge or consent. 

      Corona deaths initially were reported to have been from kidney failure in China.

      Just as The Machine decided to opt for a simultaneous manufactured crisis of covid-19 to use as a fall guy for the third economic collapse in twenty years in a CYA psy-op, the military has also developed Corona-Thrax. Why would they develop something that could kill them? My guess is that they are extrajudicially murdering people with 5G and blaming it on Corona-Thrax. I do not believe that they would release it into the environment. I believe that it serves as a psy-op and that the majority of people who did get sick had the flu.

      https://www.globalresearch.ca/mass-vaxxing-us-military-forces-covid/5733386

      https://www.unz.com/wwebb/engineering-contagion-upmc-corona-thrax-and-the-darkest-winter/

      Andrea Iravani

    6. Frank Thoughts says:

      America has been on the glide path to third world status since the 1980s. That is when they opened the country up to millions of illegal immigrants and it went on steroids under Obama.

      The U.K. is not far behind: the country is now run by a degenerate, Kompromated Muslim with two Hindu side kicks. What could go wrong with that???!!!!

      China, on the other hand, looks after its own and you just can’t illegally migrate there. They had a fair few knee grows landing there in the past 10 years but they used the pandemic to throw them out of the country. Smart. We should do the same.

    7. cranerigger says:

      Jan. 6, 2021 is the date a great Vice President finds himself in the awful situation where he must go against his own self-interest in order to protect the Republic. Like the Founding Fathers, Mike Pence must risk his future political career to correct the STOLEN Presidential Election. Adherence to the CONSTITUTION demands this action.

      Thank you in advance Mr. Vice President Pence.

      Semper Fidelis.

    8. cranerigger says:

      I forgot to mention my appreciation of the article’s mention of going “full Weimar”. That reminds me of a story folks use to tell about a woman going to a baker with a full wheelbarrow of cash to buy a loaf of bread. She parked the wheelbarrow & cash outside the bakery to see if there was any bread. Upon finding bread she went outside to get the cash for the bread. She found the Weimar currency on the ground but someone had stolen the wheelbarrow. Nobody wanted the Weimar currency.

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