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(LifeSiteNews) — Some foreign countries have begun to move away from their dependence on the U.S. dollar, a monumental paradigm shift that could have major repercussions for the global economy, the U.S. economy, and therefore you and your family as well.
Drew Mason, managing partner of St. Joseph Partners, is back for another episode of The John-Henry Westen Show. He fills us in on what has happened since his last appearance and urges us to prepare ourselves for the possibility of a severely weakened U.S. dollar.
Mason says that an event like the U.S. dollar becoming dethroned as the global reserve currency would not be unprecedented in human history, citing 15th and 16th century Portugal and the 18th and 19th century British Empire as major powers whose currencies gradually lost reserve currency status.
He believes the U.S. dollar is in the “twilight of its existence,” blaming its removal from the gold standard under President Richard Nixon and the “weaponization” of the dollar for “political purposes” over the past few years.
“[A]t some point you’re probably going to have some countries say, ‘We don’t want your dollars if we don’t respect the value of the dollar because of the way you’re treating it. So if you want our asset, you have to pay up with another currency or another asset,'” Mason says. “All of a sudden the printing press has ended, and then it’s a very different situation. So the implication to us as individuals, as families, as investors, is that we are talking about the dollar potentially losing an enormous part of its purchasing power.”
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Mason notes that gold is particularly valuable because “it’s a money that no government can destroy by printing or by policy,” noting how Jewish families in previous centuries fleeing Russia or Germany came to America with pockets of gold.
“We’ve had 700 case studies where governments have gone down this path. They were overly indebted. The sun came up the next day. It was just a question [of] were investors [and] families prepared?” he says. “Had they been good stewards and they diversified their wealth away from real estate, as our Jewish friends tell us was so important for them to do, into something that they could that was liquid, [that] they could take whatever they needed and it would preserve wealth?”
Mason also urges us to reconsider our financial support for bad diocesan bishops, explaining how one can still support one’s parish or priests without, directly or indirectly, sending money to the diocese.
“Ever since the [U.S. Conference of Catholic Bishops] was founded, every quantifiable statistic in the Church has imploded. It’s been an absolute disaster, no matter how you measure it,” he says. “Vocations, participation by families, attendance and faith of the youth. Everything has imploded under their auspices, and this shouldn’t be a surprise to us, because Jesus told us there were going to be wolves in sheep’s clothing.”
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Faith-based pro-life silver rounds are here! GET YOURS TODAY!