The sell off of the "magnificent seven" of high-performing tech stocks are Microsoft, Amazon, Google Parent - Alphabet - Tesla, Facebook (aka Meta), Nvidia, and Apple and the dollar destruction are linked as investors realize the tech companies are, by and large, not going to produce the kind of next generation of stuff that is going to add real value to the economy, leaving the US more vulnerable to hyperinflation.
While gold and silver may be better hedges against dollar destruction than Bitcoin and Crypto, only a comprehensive money reform and reform of the private central bank can reboot the USA.
https://www.telegraph.co.uk/finance/comment/9623863/IMFs-epic-plan-to-conjure-away-debt-and-dethrone-bankers.html
The great new is that money and central bank reform would be hugely popular with 99.9% of the American public who are being looted by the 1% using the private dollar.
Morever, the WEF elite invest their profits not in new booming corporations and competition but in establishing cartels and control grids, including censorship tools (FB, Meta, Google) and in promoting corruption in government.
Corporations like Pfizer and Raytheon depend on too much of their profits from rigged government contracts.
By renationalizing the Fed, returning money to the gold standard of sound money before 1913, abolishing Fed taxes and cancelling at least a significant portion of debts, Trump can bring about a new era of prosperity for all Americans on the left and the right, secure the trillions for pensions and health care.
And cut off the funds which have given the WEF elite so much power.
Sound money is not backed by gold. It is not the gold standard which makes money sound. In fact, the gold standard can cripple economies. That was true also of the Roman Empire whose economy was relatively small compared to the US or global economy today, and so could use gold, silver to back a much larger proportion of its economy than our modern economies.
Inflation is controlled in modern economies by price controls.
Price controls are not measures against free competition. They are mesures against corruption and its result inflation, which destroys economies.
This corruption is pushing the costs of bushings to 90,000 dollars for the USAF
https://www.dailymail.co.uk/news/article-13325745/Mike-Waltz-bushings-air-force-military-overspending.html
https://www.telegraph.co.uk/world-news/2024/07/25/ukraine-russia-war-latest-news13/
Sound money is the legal tender issued by the government in the name of all the people who own a country and, therefore, own a country s money and its central bank, and who can print that money for free to fund government expenditure for free, making the need for federal taxes obsolete.
If a government makes a can of coke legal tender, that can of coke would suddenly become valuable as a means of exchange. The power of the government over money is in determining the legal tender.
From media
Now, after Treasury secretary Janet Yellen admitted her fears over the future of the U.S. dollar, Tesla billionaire Elon Musk has warned the U.S. dollar is heading for "destruction" and the spiraling $35 trillion debt pile could "bankrupt" the U.S.—something some analysts think could push the bitcoin price higher.
https://www.forbes.com/sites/digital-assets/2024/07/24/us-dollar-destruction-tesla-billionaire-elon-musk-issues-35-trillion-bankrupt-warning-as-traders-bet-on-a-donald-trump-bitcoin-price-boom/
The so-called "magnificent seven" of high-performing tech stocks are Microsoft, Amazon, Google Parent - Alphabet - Tesla, Facebook (aka Meta), Nvidia, and Apple.
Each lost value during Wednesday's trading.
Collectively, they had their worst day since Meta went public over a decade ago.
https://news.sky.com/story/biggest-us-tech-sell-off-for-over-a-decade-reflects-impatience-on-ai-profits-13184676
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