XRP - THIS CRASH WILL BE WORSE THEN 2017! George Gammon

regrettably I am aware that a significant number of you are of the opinion that the cryptocurrency industry is engulfed in its very own bubble and you could not be more wrong there are a multitude of events that are occurring outside of the cryptocurrency market that will have an impact on the future price of All Digital assets recently I demonstrated to you all how the Federal Reserve has a significant impact on the price of xrp as well as the price of Bitcoin and every other cryptocurrency however there is a lot going on with global trade as well which will surely have enormous rep cussions for the entire stock market the treasury the price of gold xrp Bitcoin and a great deal of other things the reason we are seeing what is likely to be a much more severe economic slowdown than what we saw in 2008 for the housing bubble and what we saw in 2017 is because we are already experiencing what we are going to begin talking about in the video that we are providing today when it came to xrp experiencing its largest ever correction which was when it went from being worth more than $3 per coin to being a price that is roughly equivalent to where it is right now in addition it is high probable that we will be confronted with yet another correction of this nature very soon which I am aware that most of you are not very well prepared for I'm going to get you guys ready but before we do that we need to get a better understanding of the framework in which this is going to take place in addition none other than George gamon is going to walk you through all of the Dynamics that are going to be involved in this situation therefore pay close attention click the like button so that everyone can see it and let's get started with this here in the United States of America we have some extra stuff in any case that is not something that makes a lot of sense because what we need to understand is that everything that we are exporting is a surplus okay so that is the situation another way of putting it is that the demand for that particular item in the United States of America is insufficient this is a specific example that I will tell you we ship a significant amount of food overseas to simplify things let's just say corn poultry and chicken I am not aware of anyone who would suggest that the United States of America can consume more food than they presently do the way I see it they consume plenty of it therefore if we did not have these consumers let's say in China who were purchasing our chicken and corn would it be possible for us to sell that directly into the United States at the exact same price it is not possible for us to get rid of it but in order to do so we would need to lower the price and cut our profits does lowering the price have an effect on the nominal gross domestic product brings things to a halt of course that is not all consider the situation from the other side of the coin shall we while the United States does export a significant amount of goods we are also a major importer of goods a great deal more which is the reason why we are experiencing such enormous trade deficits all of this economic activity is reducing and if Germany is going into recession and China is going into depression then everything is going downhill in light of this it is highly likely that a great number of organizations will fail to meet their financial obligations many of those organizations are suppliers of products namely the kinds of goods that we the people living in the United States buying use I am not suggesting that we will be in a mad max-like situation here in the United States if the economies of Germany China and Japan continue to deteriorate and more of their Enterprises fail it is obvious that that New York is an extreme example and I am not claiming that we will be in such a situation even though it will occur at a much lesser degree the concept will still be taking place the statement is accurate if we have less things available for us to purchase in the United States even if prices might go up significantly there will be a noticeable slowdown in economic activity please for the love of God take a glance at the sp500 that is all that is required of you take a look at the rate of unemployment in the United States at this point in time it is extremely unlikely that we will enter a recession For Heaven's Sake the economy is doing exceptionally well okay that's all right consider the ballot Point let's go ahead and display a chart of the Nik which is the stock market in Japan is currently at all-time highs moreover let's take a look at the unemployment rate which is below 3% what's more they are actually experiencing a recession and that's not all the stock market in Germany has reached all-time highs so let's have a look at it consider the stock market in the United Kingdom which has reached all-time highs let's have a look at the unemployment rate in Germany which has been on the rise recently but is still quite low when compared to other countries and the unemployment rate in the United Kingdom is likewise extremely low furthermore the stock markets of each of these economies are currently at all-time Highs at the same time that they are all officially experiencing a recession they all have extraordinarily low jobless rates therefore I do not believe that to be a sound argument it is difficult to imagine the United States of America avoiding an economic recession let alone our economy operating at full capacity in conclusion if we take a look at what is occurring in countries other than the United States we can say that that it is a worldwide recession this is a very straightforward way of putting it to put it simply let's not sugarcoat things and there is a very small chance that the United States of America will prevent that from happening it is the second step we are aware that the global economy is very interrelated but what about the relationship between the global economy and the banks remember that we have banks in China Germany Japan the United States of America and the United Kingdom and all of these countries are banks that are connected to one another much like the economies in point of fact I would say that they areh much more tied each other bear in mind that the great financial crisis occurred in the year 2008 however what did the letter G represent you are all aware of this the global financial crisis is now underway it was not a crisis due to the economy a worldwide economic crisis was taking place but why is that just because I left it is not to be confused with an economic boom rather it is to refer to the boom that our financial system is experiencing why are things basically blowing up the reason for this is the collapse of the real estate market uh the collapse of the real estate market Market has an effect on the banks in the United States which in turn has an effect on the banks in the United Kingdom Germany China and Japan um Japan if I may put it another way the banks that are part of the euro dollar system are responsible for turning a real estate crisis into a global financial crisis that has occurred uh and I would argue that the forces that were at play Within the monetary system in 2008 are even more intense than they were in the present day as the third step we need to ask ourselves what is different about today than it was in 2008 in order order to assess whether or not the year 2024 could be worse than 2008 alternately perhaps we ought to go back even further to the Year 2007 for example this is the thing that I am referring to and it is my belief that you are now aware of the significance and significance of treasuries to the international monetary system in point of fact I believe that we could even go so far as to state that they are not merely essential rather they are obligatory in every way in essence they are the oil that is found in an engine in the event that you remove that oil the engine is going to become unresponsive things are going to get cold it is not going to be successful at therefore we have Bank a bank B and Bank C and it is imperative that we keep in mind because these financial institutions could be situated in any part of the world there is no actual significance to it essentially they are all components of one highly interconnected Network consequently Banker might be located in China Bank B might be in Singapore Bank C might be in the Bahamas or the Cayman Islands or even in the United States of America on the other hand these vehicles all consume the same oil because they are all connected to the same network and the same system okay let's pretend for a second that there is a recession going on all over the world that is your default scenario what exactly is going to take place with regard to the danger that is there inside the financial system that is going to be increased in such situation what kinds of things are going to take place with regard to the demand for the collateral alternatively put what is the demand for the treasuries the price of that is also going to go up before the global financial crisis however what was the typical reaction method that the central banks utiliz in other words I am referring to the recession that we experienced in the early 1990s which was the recession that occurred during the dotcom bust the Federal Reserve did what basically nothing else than drop rates to be honest when it came to going out into the market and purchasing treasuries through the creation of bank reserve sometimes known as quantitative easing QE they had not yet included that one of their Tools in their toolbox but at this point it is evident that this is their default therefore anytime we experience a minor setback they immediately turn to the QE process and this is the reason why we have witnessed q123