[PODCAST] Beware the False Belief System
Sovereign Man provides actionable intelligence and rational solutions for personal liberty and financial prosperity. Read more at www.sovereignman.com
Almost every crises starts with a totally faulty premise that seems ridiculous in retrospect.
The US becoming embroiled in two decades of war in the Middle East was based on the false belief that “Iraq has weapons of mass destruction.”
Two years of COVID tyranny was based on the false belief that it would take “two weeks to stop the spread.”
What caused the 2008 Global Financial Crisis was the belief system that “real estate only goes up.”
How could anyone have seriously believed that?
Yet today, we are embroiled in several of these false belief systems.
The massive unrealized bond losses in the banking system were precipitated by the belief that inflation was dead, and that you can’t lose money on government bonds.
And yet to unravel and bear the full consequences of the folly, is the absurd belief that it doesn’t matter that the Federal Reserve is the most insolvent single institution in world history.
This is not a conspiracy theory. This is according to Fed’s own balance sheet. But people think it doesn’t matter.
This is the topic of today’s podcast.
We walk through the interesting history of recent financial crises, how various entities failed, how the government responded… and how everyone involved refused to learn any lessons.
They’re now on the third iteration of repeating the same mistakes since 2008.
And you won’t want to miss the end, where we conclude with a great way to think about how to protect yourself from the fallout of this next brewing crisis.
It’s part of our core ethos to take actions that have no downside, that will benefit you whatever happens next.
And in this case, it is why real assets make so much sense— whether crisis is averted, or we see some serious economic pain.
Sovereign Man provides actionable intelligence and rational solutions for personal liberty and financial prosperity. Read more at www.sovereignman.com
Source: https://www.schiffsovereign.com/trends/beware-the-false-belief-system-151895/
