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National News See other National News Articles Title: Take Your Money OUT of THESE Banks NOW! - Jim Rickards Poster Comment: AI and algorithms will make a collapse happen even faster. No specialists like we had in the 1970s who can buy in a panic when everyone else sells. Means no liquidity. Also AI can be used by enemies to attack the US economy. He expects the stock market to go to zero. We might get out of a Depression by going to the 100% money plan of Dr Irving Fisher. It was recommended to FDR in 1933 to end the Depression and called the Chicago Plan. FDR did not listen. Instead he let 3 to 4 million Americans starve to death in the 1930s. we cannot go to a gold standard. Why? Because Wall Street deliberately over populated us. We only has 123 million people in 1929. Now we have 210 million more people so we need to import more raw materials. We are in a permanent Balance of Trade deficit so gold will be redeemed by foreigners. As an investor, I would buy silver and North American gold and silver mining shares. But as a citizen, I want 100% money. Bring back President Lincoln's Greenbacks which were a currency issued without a burden of interest on the taxpayers. Also, ban fractional reserve banking so commercials banks cannot create checking account money. That would only be made by the US Treasury. If we kept the ratio of money to GDP constant, we would have stable prices. We could spend the increase of M@ Money Supply into circulation. This means we could spend a trillion dollars a year. Spend it on infrastructure. We have an infrastructure deficit of $4trillion to make up for. Our leaders had us busy overseas with their Unwinnable Forever wars. I might add Colonel Douglas Macgregor's Golden Spike. He said we need to make a very fast rail link between the Atlantic and Pacific. Our new rail lines would link our Pacific ports and Asia and Australia with our Atlantic ports and Europe and Africa. I might add we need to connect north-south from Mexico and the Gulf coast to Canada and the Great lakes. His plan would make us the center of world trade. Post Comment Private Reply Ignore Thread
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