You might have noticed, the value of Gold has risen a lot lately and chances are it will keep on rising. Not only because the Corona pandemic is hurting the global economy tremendously, but also because the only thing central banks can come up with to handle this crisis is to print more money and to lower interest rates. That basically means: free money. Not free money for us as consumers and loyal taxpayers, no, just easy money for governments to go deeper into debt. The global level of government debt has risen dramatically. The majority of the developed countries are used to spending more each year than they get from taxes. This means that there are no reserves to handle these kind of crises. The only way is to create more money. It seems logical and if all major economies are doing it, then what is the problem? Please let me explain. It all comes down to one word: trust. If people or banks don’t trust a certain currency anymore the value goes down and trading will become very difficult. If trading becomes difficult the local economy will come to a stand still and that basically means bankruptcy. Bankruptcy for the country involved and for it’s companies. This is the main reason why we can see the value of Gold rising. People are losing trust in the way central banks are handling the crisis. Why Gold? Because its rare and it can’t be created out of thin air, because it has been a metal of great value throughout the centuries.
I’m convinced that the global economic crisis will become a platform for the anti-christ to gain a lot of power in a short period of time. Simply because major countries will go bankrupt because of a string of events that will push them off the brink. The first one was the dot.com crisis combined with the 9/11 attacks, then the financial crisis of 2008/2009 and now the Corona Pandemic. Although the current crisis is far from over, I predict the next one is around the corner and will completely cripple societies and usher in a need for a “global government”.
