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An economic distortion was introduced 50 years ago in the United States. Prins explains how the unrestrained printing of fiat money has hampered true economic growth in the last 50 years. Though Prins is not keen on a monetary system in which currency is backed by gold, she explains how abandoning the remnants of the system forced the country on a trajectory of diversion from reality.Īccording to Nomi Prins, a more significant percentage of fiat money is piling up in certain places like Wall Street. From Prins’ stance, the recent shift of the financial world from reality is attributable to a reason that dates to 1971, when the United States went off the gold standard. Sitting with Chris Hurt, Nomi Prins explains the effects of the gold standard abandonment on today’s economy. As inflation from agribusinesses, energy, and supply chains is spinning unchecked, analysts’ assumptions about the interconnected global economy are rocked to the core. Prins points out that the growth of the country’s financial economy does not reflect the growth of wages. While Prins does not anticipate anything similar to the 2008 financial crisis, she believes the financial world has veered off course. In an interview with Chris Hurt, the analyst explained how the geopolitical ramifications were immaterial to the domestic economic crisis. She describes how the waves of tectonic economic instability engendered by the Russia-Ukraine war have caught everyone off guard, including politicians, investors, investment analysts, economists, central banks, and even inter-governmental organizations. Nomi Prins believes that the impending economic crisis won’t look like most people expect. Nomi Prins warns that this move by the Central Bank can prompt more market sell-offs, as reported by the International Monetary Fund. Central Banks are expected to introduce more aggressive increases in interest rates to control inflation. ‘The Great Distortion’ explains how the war can cause a historic windfall of specific populations within the United States. Her stunning prediction about the final effects of the war on the global economy is dubbed ‘The Great Distortion Report.’ Nomi Prins warns that rising prices will prompt investors to sell bonds, which will push yields higher. Rampant inflation and its diminishing effects on global economic growth have rattled investors worldwide.
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Nomi Prins, a renowned author, and a former Goldman Sachs executive, has made an impressive prediction about the effects of the war on the world’s economy. They believe that the ‘battle for Donbas’ will determine the war’s outcome.
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Many financial analysts believe that the future of the global economy will be more apparent after the conclusion of the second phase of the war. The organization now expects the global economy to grow by 3.6% in 20, a marked deceleration from an expansion of 6.1% in 2021. The IMF has likened the ripple effects of Russia’s invasion of Ukraine to an ‘earthquake.’Īccording to the International Monetary Fund, the economic effects of the Russia-Ukraine war are spreading far and wide. Inter-governmental organizations like the International Monetary Fund and the World Bank have slashed their global economic growth forecast for the next two years. The Russian-Ukraine war has engendered a global economic crisis.