“Overthrowing Putin will only make things worse,” Armstrong claims, and the simple solution seems to go out the window.
In fact, many of the solutions brought forth by President Biden and his cabinet are in fact undermining the world economy. That’s the reason Western financiers are nervous every time the United States threatens sanctions, or worse, nuclear warfare.
“They just look at what’s in front of their nose… not the whole picture,” he continues.
Armstrong leads the World Economic Conference– a gathering the polemic Nigel Farage calls “the antidote to Davos.” The principal aim of the meeting: To fight back against the “control freak” Klaus Schwab and reinstate the ideals of laissez faire government and economics. To Armstrong and his crowd, Modern Monetary Theory is nothing but a set of antiquated ideals from the 19th century. They claim the collapse of globalist, Keynesian politics is coming to fruition.
“The War in Ukraine is just a skirmish in the bigger picture,” he claims.
P.S. As profligate as the U.S. is, compadre, check out this chart:
Crazy rich Iranians, Zimbabweans, Sudanians? (Source: Trading Economics)
Double digit inflation is not going to be resolved overnight by any central bank. This is the kind of financial distortion that’s causing anxiety globally and volatility in the markets.
On the currency side, we have variously called it “the race to the bottom” which is what happens when the whole world runs competitive fiat currencies. The U.S, looks dandy compared to Argentina, Venezuela, Iran, Zimbabwe (still) or Sudan.
See below from today’s sponsor, Stansberry Research.