The 34 p.c unemployment price projected by Goldman Sachs for the US economic system appears correct to former Wall Road stockbroker Max Keiser. He informed RT that the rolling monetary catastrophe will proceed till the Fed is shut down.
“[There are] no surprises, as this collapse was assured in 2008 when Barack Obama, Timothy Geithner, Hank Paulson, Larry Summers and others loaded the monetary system with debt bombs – within the type of derivatives – that at the moment are exploding proper on cue,” Keiser mentioned. “After extracting billions, these monetary terrorists and their weapons of mass monetary destruction at the moment are safely away from the catastrophe they engineered.”
He defined that “the virus of fiat cash has incentivized monetary terrorism and malinvestments which might be the underlying explanation for the failure to reply to Covid-19 in any significant sense.”
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In accordance with Keiser, the unemployment and financial disaster will proceed so long as “a personal consortium of unaccountable central bankers are allowed to print limitless quantities of nugatory fiat cash – US – backed by extortion and violence.”
Speaking concerning the sectors which would be the hardest hit throughout the disaster, he mentioned that something involving bodily human interplay, like cruises, film theatres, procuring malls and many others., “will die off or be essentially restructured.” The digital world of on-line commerce, communication and content material distribution will thrive, he mentioned.
“A pause within the disaster will happen when the Fed’s steadiness sheet reaches 100 p.c of GDP of $ 20 trillion. Proper now, they’re at $ 5 trillion. So, I count on one other $ 15 trillion of so-called asset purchases earlier than nerves are briefly calmed,” Keiser mentioned.
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