Readers are familiar with the war chronology I’ve described for the 1920s and 1930s. Now, events are playing out the same way.
The 1920s began with a currency war started by Germany with its hyperinflation under the Weimar government. The currency war spread to France and Belgium in 1925 (with inflation) and the UK (with deflation). Then the currency war played out from 1931 to 1936 with devaluation by the UK (1931), the U.S. (1933) and the UK and France combined (1936).
None of this provided the growth or debt relief the world needed although countries did receive a short-term boost as and when they devalued. Once the currency war failure became clear, the world turned to trade wars with the Smoot-Hawley tariffs in the U.S. (1930) and many similar trade barriers in the early 1930s. The trade wars were as much a failure as the currency wars.
Finally, in the1930s, the world turned to a shooting war with the Japanese invasion of China (1931), the German invasion of Poland (1939) and the Japanese attack on Pearl Harbor (1941). The end result was the Second World War, the Holocaust, and use of the atomic bomb.
As this article reveals, we’re going down the same path today. The currency war began in 2010. The trade war began in 2018. Now, Russia declares that further economic sanctions from the U.S. will be regarded as an act of war. Russia won’t respond with more economic sanctions; it will respond “by other means,” which could include cyber-financial attacks and the shut-down of critical U.S. infrastructure.
Individuals may not be able to stop this dynamic, but they can preserve wealth with non-digital assets such as gold, silver, art, land and private equity.
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It’s clear that good science does not support the extreme claims of the climate alarmists. Yes, there is such a thing as climate change, but it’s slow, difficult to predict and almost impossible to model because of the complexity of the process. The climate alarmists have grabbed most of the headlines for the past ten