There are many rumors about an impending Global Currency Reset (GCR). I’ve found Lynette Austin from ITN Trading to be very plain-spoken and straightforward in the past. Here, she answers questions from YouTube followers about the GCR on April 6th:
1) “What does a Global Currency Reset look like? What are the indications and warnings that it’s about to happen and what happens when it comes? Are there any historical references for this?”
Lynette responds on the fly, “This will be the first time in history that we will actually have had a complete global system reset.” She then goes on to explain how the financial upheavals of the 20th century were more of a gradual shift away from the Gold Standard to debt-based currencies, a process which started during the Great Depression of the 1930s and which culminated the late 1970s.
She notes that around any reset there’s a tremendous amount of chaos so, “If we think back to the ’70s, what was going on then? You had the Vietnam War, you had the protests. My sister was billy-clubbed at Kent State; you had the Oil Embargo, you had 37% official inflation, you had the Stock Market imploding, Women’s Lib, the Civil Rights Movement…so, they use these things to distract you from the real intention…so, you’ll see a lot of chaos.
“Right now, though, too, because everything is so financialized…these markets are really inside of a very narrow range. That means that they’re super rigid. So, all indications are, in my opinion as a technician and a historian is that we’re very close and what we’re seeing right now in the market, with corporations…[they] don’t even make any money and their market value is $35 billion and they don’t know that they’re ever going to make any money – even Amazon…Amazon drove a lot of companies out of business they didn’t have to make money – but if you’re a Mom-and-Pop shop, you’ve got to make money – so when you see things that are super-insane, like they are right now, that they absolutely defy all logic – that’s the indication.”
The next question is:
2) “What do Central Banks do when they peg? Do they purchase other entities’ currencies or do they print money or something else?”
Lynette replies, “It’s a combination of the two but first, they make a commitment to that peg…Iceland is now thinking about pegging to the euro-dollar, so what they do is they make that commitment to maintain…some certain level against another currency and they have to buy and sell their currencies or the other currencies to maintain that…”
Lynette’s answer: “That’s a really good question. So, actually yes, the Dow is made up of individual stocks but what we’ve been going towards for a very long time are indexes. So, what was happening was people were selling their mutual funds, the ETFs hadn’t really fully kicked into gear yet but the ETFs, those are more indexes.
“Fewer and fewer individual people actually own individual stocks and it’s not even every stock in the Dow that has run-up; it’s some key ones, like Apple or Amazon, etc. but when there is a sell-off – because I was there in ’87 and I know what that looks like and I know what that feels like – panic. So, when people panic, they just liquidate everything…So, you might have a dog stock that you want to get rid of but you may have to sell a better stock to get out of it…
“But because everybody is so much in indexes today, [when] they’re selling off an index, it pushes everything down simultaneously…assuming that there is a buyer…
“This next time, there are no buyers, because back in 2002, 2007, 2008, the banks were still market-makers, which means they would go in and put a floor underneath things or at least attempted [to do so].
“Well, they’re out of that business now so, there’s nobody to put a floor underneath.”