Greg Hunter interviews Charles Hugh Smith, financial writer and author of "Money and Work Unchained", about the economy and the destabilization ahead.

Topics:

• (00:53) What about the approaching winter of discontent you describe on your website OfTwoMinds.com? -- money printing eventually destroys the currency;
• (02:39) Are you drawing parallels between Venezuela and what is happening in the United States? -- In ten years the loss in value of the USD could impoverish all Americans -- You can't keep borrowing from the future;
• (03:53) Are people having a hard time of making ends meet now? -- Yes, wages are not rising at the same rate as inflation -- Most of the households in the U.S. are losing ground;
• (05:15) What about all the CEO's dinging the White House for cheap labor? -- Globally the U.S. is competing with every other workforce in the world;
• (07:25) What about the effects of the U.S. tax bill repatriating money corporations have offshore? -- Need to encourage bring the entire supply chain back to the U.S.;
• (08:59) Do you think they are trying to crush the U.S. dollar on purpose? -- No country becomes great by devaluing their currency;
• (10:27) What do you think about the low liquidity in the banking system? -- Plenty of money for the wealthy but very little for the bottom 95%;
• (11:56) Do you think the current administration know this? -- Rationalizing the U.S. corporate tax rates was a huge step in bring corporations back to the U.S.;
• (13:00) The privileged elite and politically connected -- not a level playing field -- student debt for those trying to get ahead -- crony capitalism;
• (16:16) What about universal basic income? -- It doesn't address the problem of the lack of productive work -- Need to create opportunities for people to serve their community;
• (19:13) Is the idea of universal basic income a sign of things to come? -- It is just another type of "bread and circuses", stripping meaning and purpose from people's lives;
• (20:45) How do you feel about what is going on in the markets? -- The whole underlying structure of the economy is destabilizing;
• (22:19) Are you worried about one day finding out the markets are down 5,000 points? -- A little more worried about markets just decaying;
• (23:27) Do you have the view of a dramatic drop in the value of the U.S. dollar? -- All fiat currencies will have a catastrophic drop against real assets;
• (25:19) Charles personally thinks there is a role for crypto currencies (Bitcoin);
• (25:42) Gold and silver;
• (26:36) Need to have a skill set that is valuable;
• (38:16) Hardship is on the horizon;
• And more...

30 minute video by Greg Hunter published 17 February 2018

Link Associated with this Interview

Financial Markets Definitely Destabilizing – Charles Hugh Smith

Source:

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