Gregory Mannarino: Get Out Of The Central Banks System, Currency Devaluation

[allthingsluxury]

Greg Mannarino, founder of TradersChoice.net, says the only thing you can count on in this economy is more debt being created. Mannarino says, “World central banks’ power exists in one thing, and that is their ability to issue debt. The more debt they issue, the stronger they become. So, they are loving this.”

Mannarino says the end game is simple, and that is “a gigantic wealth transfer effect. The global central banks are going to create a massive, massive problem, and then they are going to offer a solution. It’s the same scenario over and over again.”

Mannarino says central banks are signaling “this is the time to buy gold and silver because they are telling you they are going to create debt and devalue global currencies.” Mannarino says, “Get out of their system and become your own central bank by getting hard assets like physical gold and silver.”


Click here to watch this video and to read more:

https://goldsilverliberty.blogspot.com/2019/07/gregory-mannarino-get-out-of-central.html

[dothebeats]

I think almost everyone know that fiat currencies are in for a massive treat: devaluation after huge amounts of non-existent money were issued. The signs are alreadu looming, and for sure there will come a time that the debt created would spin in a whirl and wherein no one would ever want to pay their debts, and the only solution to this problem is to pull the plug/main switch and reset the system, and that is either go to war or crash the global economy. Not a fan of gold but during those hard times, that's the only physical currency almost all people would accept when fiat currencies are rendered useless.

[Baofeng]

Well this has been the call for many years now, specially when we see the collapsed of Lehman Brothers and the subsequent real state or housing crash. Precious metals, like gold and silver and then cryptos are touted as the best hedge for this kind of situations. But if he talking about 'being your own bank', then for sure Bitcoin fits that idea, been tested already in countries like Venezuela and Zimbabwe.

[mu_enrico]

The idea of issuing more bonds to pay the previous coupons + principals is dumb actually. I agree that it's only a matter of "when" the fiat system is going to fail. Still, the process will take much longer than anyone expected.

[timerland]

Greg Mannarino, founder of TradersChoice.net, says the only thing you can count on in this economy is more debt being created. Mannarino says, “World central banks’ power exists in one thing, and that is their ability to issue debt. The more debt they issue, the stronger they become. So, they are loving this.”

Mannarino says the end game is simple, and that is “a gigantic wealth transfer effect. The global central banks are going to create a massive, massive problem, and then they are going to offer a solution. It’s the same scenario over and over again.”

Mannarino says central banks are signaling “this is the time to buy gold and silver because they are telling you they are going to create debt and devalue global currencies.” Mannarino says, “Get out of their system and become your own central bank by getting hard assets like physical gold and silver.”

Especially when it comes to financial crises. Central banks seem to be extremely welcome of the idea of bailing out large institutions and offering as much credit and liquidity as they need - even though it comes at the expense of debasing the currency supply, essentially, and that you're making these institutions more complacent, despite the fact that it's as a result of their own mistakes.

In the short run, central banks' influence and discretion over the money supply, interest rates etc. may be counter-cyclical. But in the long run, I don't think that their effects will be any good at all.

Just look at the primary 'product' of all central banks, their fiat currencies. There has been none in history that has preserved its value past several decades. While I don't necessarily think that gold and silver will be the alternative people will flock to like gold bugs seem to suggest (due to the convenience and uprising of BTC, in particular, which serves the same purpose), blindly trusting in this centrally controlled fiat system as a long term store of value isn't any good either.

[allthingsluxury]

As just recently indicated by FED chairman Powell this week. The low interest rate party is here to continue on. The punch bowl remains.

[fiulpro]

As we all know this has been the norm since years , the banking system isn't something that is changing overnight.
Yes buying gold and silver is something that might provide assets over in the long term but at the same time it might just be a publicity stunt aimed to make the market go up , he might just have a lot of gold and as the time goes right he might just sell them to make profit .
Don't trust business men , never !
They may be good but at the same time this market is very meticulous , one can easily influence the heard and then drive them towards whatever they want.

[Tylev]

The power of banks is mainly growing due to the issuance of loans, which are difficult to repay. Credits are issued, as a rule, either against the guarantees of other persons, or on the security of movable and immovable property. On average, banks issue about a loan amount, which is not more than 70 percent of the mortgaged property. If the loan does not return, the mortgaged property becomes the property of the bank. Therefore, the best way not to depend on banks is not to take loans from them.

[Lucius]

Therefore, the best way not to depend on banks is not to take loans from them.

It is easy to say that people should not depend on banks, but at this point it is completely impossible to separate completely from the banks and do what then? Most people need banks to get their month salary, and some companies even require the account to be opened at the specific bank (I have personal experience with this). And if we look at loans, it is so common thing that it is hard to find someone who has no loan for car or house these days.

I agree that it is not smart to save fiat money, and that gold, silver or cryptocurrency is much better long-term solution, but for most people fiat is still the most preferred method of saving, and banks are doing everything in their power to stay that way.

[bitgolden]

The power of banks is mainly growing due to the issuance of loans, which are difficult to repay. Credits are issued, as a rule, either against the guarantees of other persons, or on the security of movable and immovable property. On average, banks issue about a loan amount, which is not more than 70 percent of the mortgaged property. If the loan does not return, the mortgaged property becomes the property of the bank. Therefore, the best way not to depend on banks is not to take loans from them.

I think cryptocurrency fully came prepared for the banks to really break their hold too on people and then reduce their monopoly power, if you say it is the loan that is giving them power, I agree, but I am glad that cryptocurrency too has started introducing loan facilities and it is very easy to get for those that would meet up to it.

This is how the power of banks will gradually keep decreasing as time goes on and as adoption rate increases, now that we also have some cryptocurrency banks being introduced also, so let’s see where their power will continue to emanate from, we just need to continue to create awareness for the entire world to know the bondage they have been in with banks and how cryptocurrency can pull them out if such bondage and give them the financial freedom that they need.

[hugeblack]

Mannarino says central banks are signaling “this is the time to buy gold and silver because they are telling you they are going to create debt and devalue global currencies.” Mannarino says, “Get out of their system and become your own central bank by getting hard assets like physical gold and silver.”[/size]

Valuable assets (hard assets) are those that can be considered safe havens, and therefore they must be relied upon in case of instability, financial volatility or crises that occur.
As for investment in times of stability, it varies and diversifies in diversified investment assets such as real estate, cryptocurrencies, bonds, stocks, and other assets denominated.
I believe that gold and silver are required when talking about long-term investments.

thanks for Greg Mannarino I will follow him.

[Kakmakr]

The problem is, precious metals value are still pegged to fiat currency value, which is being manipulated by governments.    Also, under current federal law <US>, gold bullion can be confiscated by the federal government in times of national crisis, so this complicates this issue and it gives no real protection against corrupt governments.    <Example : Gold Reserve Act of 1934>

I would much rather protect my wealth with something like Bitcoin that cannot be easily confiscated by corrupt governments. Gregory Mannarino is betting on the wrong horse. 

[Broly46]

It is easy to say get out of debt, but what can you do? Do you have a better alternative that fit the bill to be a currency not backed by fiat? And going back to gold? Yeah it’s great for the people who’s already rich, for the guy who come to this world with nothing but more mouths to feed and pile of debt inherit from parent, it is a wishful thinking to get their hand on gold. And I know they are secretly forcing everyone to take risk an take loan and buying into gold and hoping all will be well, but the loan come with heavy interest rate, the fool who get into this scheme will have more debt to pay in the end game. Want to change your life? Fat hope!😁



I would suggest looking for the next new safe haven investment that haven’t been tapped and the value would be very low, and would be accepted by millions of new group of generations, gold serve as a safe haven for the generation born before 19th century, fiat serve as safe haven for generation born before 20th centuries, bitcoin serve as safe haven for generation 21th centuries, the next safe haven asset will serve the generation of 22th centuries, but what could be that asset? Unless you can tell the future, you will never know it.