The Shocking Reason That Hillary Clinton Will Only Be a One Term President, If She Wins in 2016
“If Hillary Clinton wins in 2016 – she will be a one term president because it [the financial system] will break.”
Question: How long do you think we have before this system just implodes?”
Theil: “It’s amazing that they’ve been doing it for 6 years. We’ve had money printing . There’s a slow impoverishment that’s been happening. When you have interest rates at zero percent, inflation is still 2% a year, so over the course of 6 years, it’s like you’ve confiscated 12% of people’s money.
So I’ts like what the government of Cyprus did. They confiscated 10% of people’s money overnight, but we’ve…”
“…done it more slowly, but we’ve had a Cyprus-level confiscation in the US over the last 6 years.
There isn’t that much inflation, but there’s been enough so that it’s been slowly eroding things. I suppose it ends when inflation starts to pick up. And inflation doesn’t have to pick up much for it to really hurt. In the 70s, when we had a lot of inflation, we still had high interest rates. We had 8% inflation, and 8% interest rates, so you sort of roughly broke even.
If interest rates got to even 3 or 4% inflation and you’re earning zero [interest rates from the banks], then you’re really hurting. I think that conservative and libertarians over-predicted inflation in the last few years. It didn’t quite happen. But I think the mistake they made was – they under-estimated how busted the economy was. |
The Federal Reserve Has Confiscated Our Money Over the Past 6 Years
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Question : At what point are raising the interest rates irrelevant, because you cripple the economy to try and suck that money back in? You can’t raise them high enough. It will cripple the economy.
Thiel : We don’t know exactly how this ends, but there’s a sense it ends badly.
I think it could keep going for a few more years, would be my guess.
I think the majority of the governors of the Fed are democrats.
They’re going to do everything they can to push easy money to help Hillary Clinton get elected in 2016.
Buy I predict that if she wins, she will be a one term president – because it [the financial system] will break.
The silver lining to a Clinton presidency will be that there will be clarity; that because of their set of policies, that’s brought this about. It’s a very high price.
Thiel says, in regard to technological discoveries, “I think there are still many secrets left to be discovered. I think that in a successful 21st century, I think it’s going to be a great and peaceful century. The 2 big trends that have to continue are:
- Trend of globalization
- Trend of technology
Globalization involved copying things that work – horizontal growth, and technology involved doing new things, going from zero to one, vertical, intense progress. In the 19th century you had tremendous progress in both globalization and technology.
In 1914, after the first world war, it goes into reverse and there is less trade, the world is less connected, the Iron Curtain goes down and parts of the world are completely cut off. And it doesn’t really resume until Kissinger goes to China in 1971 and for the last 4 decades we’ve had ferocious globalization.
In the 1950s and 1960s you would have said that the world was divided into the first world and the third world. The first world was where there was accelerating change, and the third world was where it was permanently screwed up and broken. Today we speak of the developing world as that part of the world that will copy the developed world. China is the epitome of this and has a very straightforward plan for the next 20 years. It’s just going to copy everything that works in the west.
Question: Let’s just say you were in the White House. What would you want to change in how America is run?
“My single issue is that we have to make more progress in science and technology. I don’t think the government can do much on this because it’s so hostile to these things. At best, we can hope that the government gets out of the way of stopping this sort of progress.
There was a time in the past when the government was able to coordinate things. I don’t think we are living in that sort of society anymore. The US was able to build a nuclear bomb in 3 ½ years in a project that was organized by the US government. Or you could put someone on the moon in the Apollo project in the 1960s. These sorts of things would be utterly inconceivable today.
A letter from Einstein to the White House today would get lost in the mail room.
I think the best role of the government is …………Read the rest of the story here…
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