(Recorded on 09/21/21) Topics covered on this video coaching call In this special video update, trading coach Jerry Robinson discusses the unfolding Evergrande debt situation, the U.S. debt ceiling debate, this week’s Fed meeting, and more. Included in this video:...
Segment 1: Why is Money Made of Paper?Segment begins at 00:45
- China was the first country in history to adopt paper money
- The Nixon shock of 1971 came when he took the U.S. dollar off of the gold standard
- It’s easier to carry around paper than it is to carry coins, especially if you have a lot of them
- Every U.S. dollar is actually a ‘Federal Reserve Note’ or a loan by the Fed which must be paid back with interest
- Paper currency is issued by ‘fiat‘ or government decree
- So why is paper money usable if it has no intrinsic value?
- Our debt-based monetary system will ultimately fail because it’s unsustainable
- The fact that we have ‘fake’ money shouldn’t surprise us in this ‘fake’ world
- Three important economic red flags
- Let us teach you how to buck the trend and think outside the box before America’s inevitable day of reckoning
Segment 2: The Final WordSegment begins at 30:30
Jerry closes out today’s show with an immutable warning from the Bible about how God views fiat currency.