The irony. Apparently CNBC’s ratings have fallen so far off the cliff (due to alternative financial blogs such as Zerohedge and SD) that they have been forced to resort to truthful financial reporting.
The Central Banker/ sell-side propaganda arm known as CNBC has released an article warning investors that fiat currencies are headed for a collapse due to continued and escalating devaluation.
Shockingly, CNBC even points out in the article that “Every single fiat currency in history has collapsed, this time will be no different.”
With the typically MOPE-filled CNBC releasing articles discussing the inevitability of the collapse of global fiat currencies and a re-linking to gold, can the final devaluation of the dollar and its fiat cousins be far off?
As the investment world eagerly awaits more stimulus, a debate on a previously unthinkable topic has started to emerge – can fiat currencies survive round after round of debasement?
Some heavy hitters say the answer is no.
A fiat currency derives its worth from the issuing government – it is not fixed in value to any objective standard. That means central banks can print as much money as they want. If an economy is struggling, injecting more notes into the system juices activity but lowers the value of the currency in question.
Mark Mobius, Executive Chairman of Templeton Emerging Markets Group, says investors will soon start to demand fiat currencies be backed by gold or other hard assets.
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CNBC has found they need to “come clean” with the viewers. You can only buffalo the sheep for so long until they start waking up!
Its pretty sad it took them this long. They will, however, continue to sugar coat it when they can.
Nothing on that station should ever be taken literally.
All the main stream media is worthless.
MSM finally is catching on. Unfortunately, viewership of CNBC Asia is down to one person – The Doc.
Dang, Doc, you are firing on all 8 cylinders today.Good job. SD rocks!
CNBC. lol. Isn’t that the show right after Electric Company? Well, if you’ve taken their investment advice over the last 10 years, you’re probably losing money. And your friend who went in 100% silver 10 years ago, who ridiculed investment advice from MSM, is walking around with a BIG smile. Thank you Zerohedge and others who were around 10 years ago.
What is needed is that CNBC perform the same reporting for the American audience also. Many folks in Asia already distrust paper (so it’s a bit like preaching to the choir). But most people in the West have a hard time understanding the concept of money still. Most do not understand that ‘money’ is printed out of thin air, and that there is no limit to the supply of free ‘money’ that can be created.
When they understand that money must be a finite thing to ensure value, there will be a rush to convert paper ‘money’ into real physical money as represented by gold and silver (and anything else of lasting value). Preservation of capital means nothing if the capital (paper money) is constantly being debased and inflated away. People need to understand that what really counts is preservation of purchasing power.
Jim Sinclair referenced the following quote recently:
“The desire of gold is not for gold. It is for the means of freedom and benefit.”
–Ralph Waldo Emerson
The same must be said of silver.
I love the punchline: “Every single fiat currency in history has collapsed, this time will be no different.”
Somehow we’re all afflicted with insanity…doing the same thing over and over and expecting a different result. Well, my normalcy bias is off like the rest of you, but our friends/family/sheeple are in for a rude awakening…it’ll be therapeutic for them to lose everything they’ve worked their entire lives for so that anger can be channeled in the proper direction.
A feeble attempt to regain some credibility. Once they believe they have an audience back they will probably start the disinformation propaganda campaign all over again. Expect half truths mixed with the normal bs for the time being.
C&P from FB side …
If they only knew the WHOLE truth, they’d be more definitive in their statement. Even in TRYING to be forthcoming, they end up reporting popular myth!
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” –Henry Ford
All we know for sure if Corporate Media’s lips are moving they are lying (and unfortunately still alive)- so I bet they are trying to lead a charge into paper and then they are going to steal everything.
CNBC does have it moments. In amongst the tons of drek that are their usual fare, comes a few priceless nuggets of truth. Actually, when I am watching CNBC with breakfast and one of these zingers comes out of my TV speakers, I stare at the TV with incredulity on my face, completely unable to hope that I really did hear what they just said. Makes me want to get a DVR so I can back it up and play it again a few times just to be sure that I actually heard what I thought I heard.
We all know the currencies are heading for a collapse. What we don’t know is whether of not the MSM ie: MSNBC is really responding to their obviously falling viewer ratings by reporting the truth for a change, or if it’s just another ploy to control us by those that own it outright. We always have to remember, keeping in mind constantly the fact that they are in the business of selling stocks and bonds, not gold and silver. So the day that CNBC starts regularly advising us to purchase the metals instead and do so openly will be the day that I begin to consider just how fast I should be getting out of them!