A few days ago, The Hill came out with an opinion article comparing this year to the year 1929. Why 1929? That was ninety years ago when the world watched in shock and horror as the stock market crashed which lead to the Great Depression. In this opinion piece, the author shared their concerns.
I am increasingly worried that 2019 feels ever more like 1929. Back then, inequality was at an all-time high. Authoritarian nationalism was on the rise. World War I had exploded the old global order without creating a new one. Then the stock market crash of October 1929 ignited the horrendous cascade of depression, fascism and World War II —arguably the worst 15 years in history.
Fast forward to today. Three intersecting geo-economic and geo-political trends feel a lot like an update of the 1920s:
- China and the United States seem increasingly determined to decouple their economies from each other — making a second Cold War a reality and superpower war more likely.
- Robotics and AI threaten to destroy many more jobs than it creates —undermining the foundations of a good life based on a good job.
- Populism seems here to stay — eroding the foundations of democracy and increasing the chances of international conflict.
The author makes some chilling comparisons and the dots are being connected in a way that would most likely catch a lot of people off guard or send them in denial. However, the world's economy is hanging by a very thin thread at this moment. The ever increasing tension occurring between Israel, the United States, and Iran is now pushing the envelope for the potential for the collapse of the global economy according to this Aljazeera article:
Crown Prince Mohammed bin Salman told the US-based CBS programme 60 Minutes that crude prices could spike to 'unimaginably high numbers' in case of an armed conflict.
'The region represents about 30 percent of the world's energy supplies, about 20 percent of global trade passages, about four percent of the world GDP (gross domestic product),' the crown prince, also known as MBS, said.
'Imagine all of these three things stop. This means a total collapse of the global economy, and not just Saudi Arabia or the Middle East countries.'
Source
That isn't the only potential for a global economic crisis to happen at the moment. The Guardian stated it well by highlighting the tensions and issues between the U.S. and Iran, as well as the U.S. and China.
There are now several geo-economic games of chicken playing out. In each case, failure to compromise would lead to a collision, most likely followed by a global recession and financial crisis. The first and most important contest is between the US and China over trade and technology. The second is the brewing dispute between the US and Iran. In Europe, there is the escalating brinkmanship between Boris Johnson and the EU over Brexit. Finally, there is Argentina, which could end up on a collision course with the International Monetary Fund after the likely victory of the Peronist Alberto Fernández in next month's presidential election.
Can you see that the world is in for some big and drastic changes politically and especially economically? It isn't a push in a good direction either. The global sanctions countries are under now also have them moving towards cryptocurrencies and purchasing vast amounts of gold. When the big banks and other countries' governments are investing in their own development of a cryptocurrency and buying tonnes of gold, it should be a significant red flag. That is your signal to get your own finances situated before a recession and/or global collapse occurs. However, any cryptocurrency, such as Bitcoin, that is not backed by tangible assets will also collapse with the global economy when that occurs. This is why it is essential to invest wisely. GODcoin provides that option since it will be backed by gold AND be the currency in the New Kingdom after the dust settles.
This article was authored by Judith Monte, @belovebelight
There are many advantages to GODcoin especially since it is one of the few coins that will be backed by gold and silver. Not only does GODcoin offer the illuminated path towards a prosperous future, but very soon, it will be the global currency. To learn more, visit the following links:
All information provided is available on the official website at https://godcoin.gold
PREPARE TO INVEST WHILE YOU CAN
Social
https://www.facebook.com/GOD.coin.gold/
https://www.linkedin.com/company/GodCoin/
