Michael Snyder: Inflation will Explode as the World Stops Using Dollars
Tom welcomes new guest Michael Snyder from The Economic Collapse Blog. Michael discusses how people assume war with Russia can’t happen because of Mutual Assured Destruction. We do need to think about the risks of conflict escalating and Russia has modernized its strategic arsenal while the United States largely has not. The Russians have also developed anti-ballistic missile systems which are quite advanced. As a result, we are quite unprepared for such a conflict. Meanwhile the U.S. military is mostly focused on implementing woke policies.
When the cold war ended we declared ourselves the victors and focused on other parts of our military. 9/11 brought spending on anti-terrorism in Afghanistan and Iraq which became large money pits. The military today is increasingly underperforming which we witnessed when the U.S. withdrew from Afghanistan.
U.S. foreign policy has been isolating various countries like Russia, China, and India. This is resulting in these countries coming closer together. Most do not want this war and if we’re not careful it could escalate.
Countries are likely to take advantage of the United States because Biden is perceived as weak. This is a window of opportunity for other nations.
A diplomatic solution that would have kept Russia out of Ukraine was entirely possible but the Biden administration took a hard-line approach.
The current method of calculating inflation has been changed multiple times to make it look lower. The actual numbers (ShadowStats.com) are over fifteen percent if it was calculated like it was in the 80s.
We’ve been spending trillions that we don’t have and thus diluting the money supply at an ever-increasing pace. Now with the problems in Europe, we’re going to have further supply problems and therefore inflation is going to worsen to the next level. We’re seeing the energy problems coming out of Europe in part due to their reliance on unreliable green energy solutions.
Food supplies are going to get increasingly tight since much of the wheat for Europe comes from Ukraine and Russia. Many farmers are going to be unable to purchase fertilizer due to the costs.
Time Stamp References
0:00 – Introduction
1:05 – War, M.A.D. and Risk
8:03 – U.S. Military Spending
11:44 – Russia and China
17:33 – Signs and Concerns
24:09 – Catastrophic Inflation
32:34 – Food and Fertilizer
36:54 – Civil Unrest Coming?
39:40 – Meat & Bird Flu
42:37 – Unimaginable Debt
45:17 – Dollar Disaster
46:39 – Supply Chain Outlook
50:20 – Prepping for Problems
53:16 – Gold and Silver
54:52 – Concluding Thoughts
Talking Points From This Episode
- Risks of a greater conflict with Russia and the west’s lack of preparedness.
- The major problems with U.S. foreign policies.
- Looming problems with food supplies and fertilizer affordability.
- Importance of having some preparations.
Michael Snyder has an undergraduate degree in Commerce from the University of Virginia, a law degree from the University of Florida law school, and an LLM from the University of Florida law school. He worked as an attorney in Washington D.C. for several years, but became increasingly frustrated that I was having no impact on the world around me. Fortunately, God took him and his wife out of there and brought them to a very quiet location in the middle of nowhere. From the middle of nowhere, they have touched millions of lives all over the planet through the Internet.