Posted Mar 19, 2020 by Martin Armstrong
This is a letter I have sent to the White House but others are sending it to the various heads of central banks. Please forward it to whoever you may think will help try to turn the tide. We must end this panic and return to some normalcy. As mentioned, this would also be the cure for the common cold – home confinement. There are so many advisers claiming the numbers are false and many more people are dying without any supporting evidence. They always like to paint the worse possible picture on pure speculation. You do not do this with the world economy. Those that still cling to the Quantity Theory of Money and claim this will be hyperinflationary so buy gold, well you just saw what happened to Bridgewater. They never understand the interworking of the economy and the herd mentality of society.
Hyperinflation has NOTHING to do with the quantity of money. They do not know their history and just repeat what others have said without ever verifying facts. In December 1922, the government of Germany imposed a FORCED LOAN confiscating 10% of everyone’s assets. They gave them bonds that were worthless. That is when the people lost confidence in the government and refused to accept their money as valid.
It has always been a factor of CONFIDENCE. We are endangering the world economy and this collapse is now already being argued proves that Bernie is right and capitalism is wrong. So if we do not turn the tide, your future will be lost forever.