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Consumer prices beat consensus estimates for the fifth consecutive month. Again, we’re told it’s transitory. It was another bad month of weather for the harvests just like it’s another bad month for the cost of cars. Even if the annualized rate falls back from 6% to 2%–which it won’t–it wouldn’t be transitory. Transitory requires the second part of the year to come in at a deflationary -2%. That’s how things get back 2% for the year. Easy peasy, ha!
Or maybe not ha!. Treasury yields fell on the CPI beat. The 30-year is down on the week, paying a measly 2.15%. The Fed is going to tighten so hard nominal prices will fall! If consumer price decreases are coming, a guaranteed 2%+ return is the perspicacious play!
In seriousness, tie your money up for 30 years to earn an equivalent real yield of -4%? Who would possibly be so dumb?! AT&T dividends are thrice that. Nobody who isn’t a central bank is going to buy long-term treasuries. Lender of last resort takes on a new meaning!
The TreasureFed is holding rates down because if they were allowed to clear the open market, rates would fly up to 5% or 10%, sending the economy crashing in a way that makes 2008 look like a walk in the park by comparison. The longer rates are artificially held down despite ever-increasing trade and budget deficits, the more the rest of the world will pull out of the dollar market.
The dollar’s demotion will be painful. Americans’ monetary standard-of-living will decline. It’s been a year now and it’s still hard to know if the things you’re looking for at the grocery store will be there. As it becomes increasingly clear that the perpetual shortages of products and labor are no more transitory than inflation is, prices will rise substantially to reflect reality. It’s nice when the house or the 401(k) goes up 10% in a year. It’s not so fun when the price of bread and milk do.
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I wonder how many houses BlackRock will buy with their free money in the next 12 months?
The economy of scale has collapsed.
Everything is a scam nowadays. Due to you-know-who.
The debts are unpayable. Credit is tight. Banks will be insolvent.
Better to barter. Use your skills for you and yours.
Cut off the Beast at the knees. Dump the petrodollar. Its trash.
Do not go into cryptocurrency or gold. Buy food and ammo.
No monies are any good when food and bullets are scarce.
The War is now here. The Cold Civil War is now heating up.
The attempt to get the Marxists to attack middle America is going poorly.
We need to sic these Hunger Dogs on the Zionists. Get them to destroy each other.
Its easy to do. The Zionists are the Rich. EAT THE RICH.
I feel like it is time to redefine what “walk in the park” stands for.
After all, these days the walk in the park frequently enough translates into “getting mugged, raped, and stabbed”.
This will go in one of two ways:
Complete techno feudalism
The mass inflation completely wipes out the middle and working classes and reduces them to penury. Mass bankruptcies occur. What little remains of small businesses are wiped out by the depression and big corporations like Amazon and walmart take control of 100% of the market share.
Wages fall to nothing and most of the land and property are bought up by the banks and finace sharks. Most people now own nothing and rent everything.
Degeneracy goes into overdrive as all drugs are de facto legalized, alcoholism and suicide skyrockets. The last sensible white people flee to Latin Ameirca and Europe before the mass violence begins. Blacks are fully unleashed by the central state on the popluation in order to keep in a state of terror and mayhem.
You are not allowed to touch the black rapist, arsonit or marauder lest you be thrown in prison by the local Jewish DA for terrorism and hate crime.
End of Empire
The situation gets so bad that law and order fall apart. The ability of the government to control the country collapses as people switch to bartering, self sufficient local economies and community policing. The US military ceases to be a fighting force as its paid shit and all the good men leave and the vacant positions are filled trannies, antifa druggies, black criminals and cartel members.
Gov salaries across the board fall and the state stops functioning. The over-financialized economy is wiped out and due to the fall of the dollar, the import baed economy crumbles. Unemployment rises to 30-40%.
Gov has no ability to fix this with UBI. Parts of the US secede to escape the chaos. Local counties band together and secede from the union to escape ever more punishing taxes and FBI/police state repression.
The US military in a state of shambles due to demoralization and anarchy is unable to stop it. Large part of the US elite no longer want any part of this ruin.
The US falls apart as parts of it secede. DC is forced to call its armies home and slash the military as the Empire ends
We are definitely headed for Techno Feudalism and in many ways are already substantially there. The vestiges of the previous order are still hanging tattered, but they don't bear close inspection.
The best part about the Techno Feudalists is that they are not tied to the U.S. in any meaningful way, so if and when the last penny has been wrung out of American consumers we can be abandoned for more lucrative pastures.
I would bet on Techno Feudalism first and collapse second.
At least we'll have something to look forward to!
Ron Paul tried to warn us about debt money. Ralph Nader tried to warn us about Free Trade. Both practices make the ruling class richer and the working class poorer.
A well regulated Capitalism can be an engine of prosperity for everybody. But that requires honest and enlightened government. Human nature works against it. Unregulatd Capitalism naturally leads back to Feudalism. In the digital age – Techno Feudalism.
Most will be blind sided. Confounded by the currency crisis. Why is there not an App for this?
A well regulated Capitalism can be an engine of prosperity for everybody. But that requires honest and enlightened government. Human nature works against it. Unregulatd Capitalism naturally leads back to Feudalism. In the digital age - Techno Feudalism.
Most will be blind sided. Confounded by the currency crisis. Why is there not an App for this?Replies: @dfordoom, @V. K. Ovelund
Yes, with the emphasis on regulated. Capitalism is a savage beast that can be useful but it needs to be leashed and muzzled.
Honest and enlightened government would be a very fine thing but I can’t see democracy ever leading to such a happy outcome.
Pretty much.
New normal? I wasn’t done hating the old normal!
You buy Guvvies if you think the USG will still have taxing & taking power on the “other side” of the impending crisis. They can take your gold, like they did in the 1930s, they can nationalise the economy and render your marketable securities worthless, and they can do all sorts of things to crypto’s… but with guvvies, you’ll get all of your money back, even if it isn’t enough to buy a loaf of bread in our brave new world.
Things have continued for as long as they have without major problems because the U.S. is living off its past reputation. Foreigners think the U.S. of today is the same as the U.S. of 1980 and if inflation starts to get out of control another Volcker will be put in at the Fed to get it under control. The U.S. of 1980 no longer exists, though. Once they realize the money we are printing up and handing to them in exchange for manufactured goods will have its value inflated away they aren’t going to take that money any more.
In 1980 the Republicans still had some lingering attachment to the idea of balanced budgets and low spending. Reagan didn’t actually achieve those goals but at least talked about how they were desirable and there were David Stockman types in the administration who pushed for that. There were no David Stockman types in the Trump administration and Trump himself talked little about decreasing government spending or balancing the budget. Over on the Democrat side, southern moderates still had a lot of influence back then and one of them, Carter, got elected president. Carter generally believed in fiscal restraint. It was Carter, not Reagan, who appointed Volcker. Carter also opposed a lot of pork barrel spending favored by Democrat congressmen. There were no trillion dollar infrastructure bills like Biden is proposing. Carter also reduced military spending by doing such things as canceling the production of the B-1 bomber, a flying white elephant.
Excellent point. This country’s problems will not be solved through the electoral process.
Maybe 5 years ago I read Lionel Shriver’s book “The Mandibles” and it was tough to get through – just bleak as hell, although I thought it was more of an extreme warning rather than a prediction at the time. Lately it’s looking somewhat more prophetic.
That said, there are a lot of external variables that affect our economy, the strength of the dollar, willingness to finance our deficits and so on. I don’t have a crystal ball, but our major economic competitors are not immune to bad judgment as well on the part of their leaders that ultimately benefit us. But betting on the competition being less responsible/competent is not a strategy, either.
It’s been clear for at least 20 years (and perhaps I am blinded by my age) that our elites are not up to the challenge of positioning America for sustained prosperity and stability – in fact, since the Obama years it seems their goal is the opposite.
All this funny money, fiat currency, is headed for the dumpster. TPTsB will try to inject the SDR's but that's just a basket of shit currencies, so it has no chance at succeeding to prop up phony money.
At some point, a major gold holder country will announce that their bullshit currency is backed, at least partially by gold. That will crater every pure fiat currency the next day and revalue gold simultaneously. Every country on the planet will then confiscate their citizen's gold to TRY to cope just as that asshat FDR did a century ago.
Trouble is that any country that can't point at some natural resource to back up their paper will hit depression in a heart beat. Chile can try to put copper behind their currency. The Arabs could try oil. The US could try food as that's just about the only thing the rest of the world wants from the US.
When the SHTF with some black swan event, the entire world's fiat fantasy will end abruptly.Replies: @beavertales
Introduction
Part 2
Part 3
Part 4
Part 5
Conclusion
Unless you have children approaching the homebuying age.
So far, I lack specifics to comment intelligently, but BlackRock—the firm that seems to have sponged up a cool�$100 billion or so in emergency pandemic relief funds last year (the exact figure is hard to establish)—is reportedly now using that cash to buy up (hence bid up) single-family residential real estate. I want more facts before I comment further: maybe there is nothing to it; but I have my eye on the story. Other readers that have children at homebuying age might watch the story, too.
I do not yet fully grasp the dynamics here. I won’t pretend otherwise, but suspect that, one way or another, the U.S. Treasury’s foreign creditors are not going to be fully repaid.
This is how the U.S. Treasury gets out of fully repaying foreign creditors as far as I know.
Will such maneuvers ruin the United States’ credit? Yes and no. The U.S. is already beginning the process of surrendering its unique position as issuer of the global reserve currency, but what happens to U.S. credit thereafter (if we even care) is a future I do not know.
Once the SHTF, everything will be on sale, permanently. That's the price deflationary part of a hyperinflationary future.
Interest rates may look tempting, but when you end up sitting in a $50,000 house that your mortgage has you paying for the $500,000 loan you took out, you will be so far behind the only solution is to send the keys to the lender.
Wait, and put your money in what are today huge bargains - precious metals.Replies: @Realist, @dfordoom
A well regulated Capitalism can be an engine of prosperity for everybody. But that requires honest and enlightened government. Human nature works against it. Unregulatd Capitalism naturally leads back to Feudalism. In the digital age - Techno Feudalism.
Most will be blind sided. Confounded by the currency crisis. Why is there not an App for this?Replies: @dfordoom, @V. K. Ovelund
I liked Ron Paul a lot, voting for him every chance I got (even in�1988, if you remember that). However, Paul’s attachment to specie was ideological. As far as I know, Paul never made a case for hard money (specific money?) that would persuade a knowledgeable person that did not already agree with Paul.
To Paul, the U.S. Constitution authorized hard money, so hard money must be good. I am unsure that such warnings are very convincing. If Paul ends up being right in this matter, I fear that he will be right merely by accident.
Everything is a scam nowadays. Due to you-know-who.
The debts are unpayable. Credit is tight. Banks will be insolvent.
Better to barter. Use your skills for you and yours.
Cut off the Beast at the knees. Dump the petrodollar. Its trash.
Do not go into cryptocurrency or gold. Buy food and ammo.
No monies are any good when food and bullets are scarce.
The War is now here. The Cold Civil War is now heating up.
The attempt to get the Marxists to attack middle America is going poorly.
We need to sic these Hunger Dogs on the Zionists. Get them to destroy each other.
Its easy to do. The Zionists are the Rich. EAT THE RICH.Replies: @Catdog
There’s a bit of a difference between high inflation and mad max.
Ben Shapiro has already stepped in to defend Blackrock, so that pretty much guarantees that Blackrock is doing everything the story claims and probably a lot worse.
I say:SHAPIROISM IS EVIL AND TREASONOUS AND IT MUST BE VANQUISHED!BlackRock is an evil and treasonous and immoral outfit dedicated to attacking and destroying the European Christian ancestral core of the USA and BlackRock is using central banker shysterism to attack and destroy AFFORDABLE FAMILY FORMATION in the USA.BlackRock is using the monetary extremism of the Federal Reserve Bank to grab hold of control of the residential real estate market in order to perpetuate WHITE GENOCIDE in the USA. The patriotic answer to the evil of BlackRock is to raise the federal funds rate to 6 percent and implode the asset bubble in real estate and then use local property tax hikes to squeeze the pips of BlackRock so hard they'll start squeaking. BlackRock owned real estate must be taxed so high that Larry Fink will be screaming in horror before he is financially liquidated and then forcibly exiled to sub-Saharan Africa.BlackRock Must be Financially Liquidated Immediately!I wrote this about Ben Shapiro and Dinesh D'Souza in November of 2019:Nick Fuentes patriotically pointed out that Dinesh D’Souza attacked Sam Francis by the most foul means and that D’Souza is no friend to FREE SPEECH nor honest intellectual enquiry.Sam Francis worked as a staffer in the US Congress and he had a PH.D from the University of North Carolina and Sam Francis was a wise man with guts and brains and heart and he was viciously attacked by that horrible ruling class stooge whore scamp named Dinesh D’Souza.Dinesh D’Souza was Ben Shapiro before Shapiro was Shapiro, and I am glad that young Mr. Fuentes and his Patriotic Groyper Army are engaging with the evil forces of Shapiroism every chance they get.Conservatism Inc. and the Republican Party are inundated and infested with Ben Shapiro and Dinesh D’Souiza type scoundrels, and they must be met on the battlefield of FREE SPEECH and OPEN DEBATE.The historic American nation must bang it out bravely against Ben Shapiro and Dinesh D’Souza and the horrible treasonites in Conservatism Inc. and the rancid Republican Party.https://www.unz.com/article/the-groyper-wars-on-immigration-are-the-debate-that-american-nationalism-needs/#comment-3567907https://twitter.com/NorthmanTrader/status/1264551872179953664?s=20https://twitter.com/JDVance1/status/1402608156254117894?s=20Replies: @El Dato, @Audacious Epigone
It’s The Economy, Stupid!?
Nonsense!
It’s The Raw, Brute Political Power!
The political power to control the nuclear weapons and the political power to control the monetary policy of the central banks is the ultimate power on the planet.
All you wiseacres talking about the naval power of the USS PY and the world moving on a woman’s hips have a point but that is neither here nor there and not fit to discuss without recourse to pleasant metaphors and nice things like that.
RAW BRUTE POLITICAL POWER!
Force and fraud and the anti-White fraudulence of the top ten percent wealth holders is wearing thin and we are now in the transition period where the JEW/WASP Ruling Class of the American Empire will resort to FORCE to attempt to retain power. The JEW/WASP Ruling Class of the American Empire will fail in their anti-White Totalitarian machinations and they will be removed from power and they will be financially liquidated and they will be forcibly exiled to a hot and humid and fetid part of the worst section of sub-Saharan Africa.
Turn Out The Lights, The Party’s Over For The Evil And Treasonous JEW/WASP Ruling Class of the American Empire.
WHITE CORE AMERICA RISING
I wrote this in April of 2021:
Weimar Germany gotten von popped when the asset bubbles created by the privately-controlled Federal Reserve Bank and other central banks went das belly up.
Weimar American Empire goes dodo when the asset bubbles created by the privately-controlled Federal Reserve Bank and other globalized central banks implodes.
The Ruling Class is in the last ditch and they are using monetary extremism — asset purchases, dollar swaps, balance sheet ballooning, zero interest rate policy, mortgage-backed securities purchases, government debt purchases, dot plots, jawboning, green smoke emanating from the New York Fed building to give some religiosity and mumbo-jumbo magic to the electronic conjuring up of cash and much more besides — to retain power and to remain in power and the asset bubbles are bubbling and they will pop.
https://www.unz.com/anepigone/woke-capitalism/#comment-4608653
Ben Shapiro has already stepped in to defend Blackrock, so that pretty much guarantees that Blackrock is doing everything the story claims and probably a lot worse.
I say:
SHAPIROISM IS EVIL AND TREASONOUS AND IT MUST BE VANQUISHED!
BlackRock is an evil and treasonous and immoral outfit dedicated to attacking and destroying the European Christian ancestral core of the USA and BlackRock is using central banker shysterism to attack and destroy AFFORDABLE FAMILY FORMATION in the USA.
BlackRock is using the monetary extremism of the Federal Reserve Bank to grab hold of control of the residential real estate market in order to perpetuate WHITE GENOCIDE in the USA. The patriotic answer to the evil of BlackRock is to raise the federal funds rate to 6 percent and implode the asset bubble in real estate and then use local property tax hikes to squeeze the pips of BlackRock so hard they’ll start squeaking. BlackRock owned real estate must be taxed so high that Larry Fink will be screaming in horror before he is financially liquidated and then forcibly exiled to sub-Saharan Africa.
BlackRock Must be Financially Liquidated Immediately!
I wrote this about Ben Shapiro and Dinesh D’Souza in November of 2019:
Nick Fuentes patriotically pointed out that Dinesh D’Souza attacked Sam Francis by the most foul means and that D’Souza is no friend to FREE SPEECH nor honest intellectual enquiry.
Sam Francis worked as a staffer in the US Congress and he had a PH.D from the University of North Carolina and Sam Francis was a wise man with guts and brains and heart and he was viciously attacked by that horrible ruling class stooge whore scamp named Dinesh D’Souza.
Dinesh D’Souza was Ben Shapiro before Shapiro was Shapiro, and I am glad that young Mr. Fuentes and his Patriotic Groyper Army are engaging with the evil forces of Shapiroism every chance they get.
Conservatism Inc. and the Republican Party are inundated and infested with Ben Shapiro and Dinesh D’Souiza type scoundrels, and they must be met on the battlefield of FREE SPEECH and OPEN DEBATE.
The historic American nation must bang it out bravely against Ben Shapiro and Dinesh D’Souza and the horrible treasonites in Conservatism Inc. and the rancid Republican Party.
https://www.unz.com/article/the-groyper-wars-on-immigration-are-the-debate-that-american-nationalism-needs/#comment-3567907
Why won’t the owners of the US just bring in another Volcker, raise interest rates and ensure that the dollars they have stay valuable? A lot of working class people will suffer, but the wealthy will be fine. In an inflationary situation, the owners of America will also suffer, and they wouldn’t like that.
The US is insolvent and it will play out as it must. They can take their weapons and shove them where the sun doesn't shine.
Anyone not tuned in will be decimated. I wish that weren't so, but every action the US and its Federal Reserve make are just adding fuel to the conflagration smart people know is coming.
There are several ways this can play out, but all of them leave people who thought they owned their homes as renters, and if they are lucky enough to still be working or just getting by on UBI, the uplifts to the wages or incomes will barely keep pace with the inflation uplifts to rents.
Remember, it’s already a publicised plan: In 2030, you will own nothing, you will rent what you need, and you will be happy.
As with many of the insane ideas and goings on these days, reality is taking its damn sweet time showing up…
I think for Paul legal is good. Hard money is legal. Paul called for hard money to be allowed to compete. Stop taxing PM’s and repeal legal tender. I voted for him too. He taught me the case against the FED, without which knowledge nothing made sense to me.
I say:SHAPIROISM IS EVIL AND TREASONOUS AND IT MUST BE VANQUISHED!BlackRock is an evil and treasonous and immoral outfit dedicated to attacking and destroying the European Christian ancestral core of the USA and BlackRock is using central banker shysterism to attack and destroy AFFORDABLE FAMILY FORMATION in the USA.BlackRock is using the monetary extremism of the Federal Reserve Bank to grab hold of control of the residential real estate market in order to perpetuate WHITE GENOCIDE in the USA. The patriotic answer to the evil of BlackRock is to raise the federal funds rate to 6 percent and implode the asset bubble in real estate and then use local property tax hikes to squeeze the pips of BlackRock so hard they'll start squeaking. BlackRock owned real estate must be taxed so high that Larry Fink will be screaming in horror before he is financially liquidated and then forcibly exiled to sub-Saharan Africa.BlackRock Must be Financially Liquidated Immediately!I wrote this about Ben Shapiro and Dinesh D'Souza in November of 2019:Nick Fuentes patriotically pointed out that Dinesh D’Souza attacked Sam Francis by the most foul means and that D’Souza is no friend to FREE SPEECH nor honest intellectual enquiry.Sam Francis worked as a staffer in the US Congress and he had a PH.D from the University of North Carolina and Sam Francis was a wise man with guts and brains and heart and he was viciously attacked by that horrible ruling class stooge whore scamp named Dinesh D’Souza.Dinesh D’Souza was Ben Shapiro before Shapiro was Shapiro, and I am glad that young Mr. Fuentes and his Patriotic Groyper Army are engaging with the evil forces of Shapiroism every chance they get.Conservatism Inc. and the Republican Party are inundated and infested with Ben Shapiro and Dinesh D’Souiza type scoundrels, and they must be met on the battlefield of FREE SPEECH and OPEN DEBATE.The historic American nation must bang it out bravely against Ben Shapiro and Dinesh D’Souza and the horrible treasonites in Conservatism Inc. and the rancid Republican Party.https://www.unz.com/article/the-groyper-wars-on-immigration-are-the-debate-that-american-nationalism-needs/#comment-3567907https://twitter.com/NorthmanTrader/status/1264551872179953664?s=20https://twitter.com/JDVance1/status/1402608156254117894?s=20Replies: @El Dato, @Audacious Epigone
“Attention all ground protection teams, autonomous judgment is now in effect. Sentencing is now discretionary. Code: amputate, zero, confirm.”
What do you do when looting has become government policy? You have been conquered, the Mongol King is here and you have to give him your house.
Also:
mises.org: “Supply Bottlenecks” as an Excuse for Inflation
Mises.org still thinks we can get through this without people being herded into death camps.
Why is that nice? If you sell your house for 10% more than it was worth last year you’ll find yourself having to pay 10% more to buy another house.
I don’t know how much my house is worth. I honestly don’t have a clue. I have no intention of selling so the question is irrelevant.
I can see the benefit to rich people who can afford to buy multiple investment houses but I don’t see any benefit to ordinary home-owners.
Wealth inequality will get even worse, we are already past Brazil levels. The elites aren't content with merely being the aristocracy. What they want to be now are technocratic pharaohs ruling over an increasingly dumb and divided serfdom. I'd say the plan is about 70% complete at this point. Everyone will live in apartments owned by the oligarchs, you step out of line and you join the teeming masses of homeless living in tent cities.
That's the reason for the war on cops too. They want to harden the hearts of the enforcement class, remove their sympathy for those they watch over, and it's working.
Get out while you can.
That said, there are a lot of external variables that affect our economy, the strength of the dollar, willingness to finance our deficits and so on. I don't have a crystal ball, but our major economic competitors are not immune to bad judgment as well on the part of their leaders that ultimately benefit us. But betting on the competition being less responsible/competent is not a strategy, either.
It's been clear for at least 20 years (and perhaps I am blinded by my age) that our elites are not up to the challenge of positioning America for sustained prosperity and stability - in fact, since the Obama years it seems their goal is the opposite.Replies: @RoatanBill, @Achmed E. Newman
Ask yourself why Russia, China, India, and many other country’s central banks are loading up on gold, the barbarous relic. China has encouraged their people to own gold.
All this funny money, fiat currency, is headed for the dumpster. TPTsB will try to inject the SDR’s but that’s just a basket of shit currencies, so it has no chance at succeeding to prop up phony money.
At some point, a major gold holder country will announce that their bullshit currency is backed, at least partially by gold. That will crater every pure fiat currency the next day and revalue gold simultaneously. Every country on the planet will then confiscate their citizen’s gold to TRY to cope just as that asshat FDR did a century ago.
Trouble is that any country that can’t point at some natural resource to back up their paper will hit depression in a heart beat. Chile can try to put copper behind their currency. The Arabs could try oil. The US could try food as that’s just about the only thing the rest of the world wants from the US.
When the SHTF with some black swan event, the entire world’s fiat fantasy will end abruptly.
Canada liquidated its sovereign gold reserves and put its blind faith in fiat currency. Canada's rulers don't believe it's a country. They believe it's a resource-rich territory open to all, a 'post-national' entity where anyone with money can buy a stake.
The flag of Canada could be Justin Trudeau holding his ass-cheeks open.Replies: @RoatanBill
Someone would have to be really foolish to purchase a home at today’s prices.
Once the SHTF, everything will be on sale, permanently. That’s the price deflationary part of a hyperinflationary future.
Interest rates may look tempting, but when you end up sitting in a $50,000 house that your mortgage has you paying for the $500,000 loan you took out, you will be so far behind the only solution is to send the keys to the lender.
Wait, and put your money in what are today huge bargains – precious metals.
Way too late to try to ameliorate the problem.
The US is insolvent and it will play out as it must. They can take their weapons and shove them where the sun doesn’t shine.
Anyone not tuned in will be decimated. I wish that weren’t so, but every action the US and its Federal Reserve make are just adding fuel to the conflagration smart people know is coming.
I don’t know how much attention people are paying to the water situation in the West but its getting dire and maybe a longterm situation that could have catastrophic impact on LA, Las Vegas, Phoenix and the SF Bay Area as well as agriculture.
I lived in Marin County in the late 1970’s and, because of some special circumstances unique to that County, we had water rationing. 35 gallons per day per person. You really can’t live a normal life with only 35 gallons per day available and you got fined ( heavily ) if you exceeded it. Yet that is looking like a likely prospect this summer for millions of people. It is also the case that, normally, California gets a sizable chunk of its electricity from hydro electric plants. It won’t this year so a long hot summer may come with blackouts too. Nothing like being trapped in your house when its 100+ degrees outside and you have no A/C or even fan and you can’t take a cold shower to cool off either. If there are wildfires that is going to put a stop to a lot of solar generation too. California doesn’t have any fossil fuel or nuclear back up either.
Las Vegas maybe able to keep the casinos open but the era of being America’s fastest growing city is going to be over. A lot of immigrant landscape and agricultural workers in California and Arizona are going to be out of jobs. Housing prices could be under pressure too as residents who thought they lived in a pleasant Mediterranean climate start to realize they are going to be living in an arid desert for years.
OT: so it appears so far that Ivermectin seems to have good therapeutic efficacy against Covid in the trials: https://twitter.com/AbdenurFlavio/status/1398717229366235141
But also read the caveats:
“The longer rates are artificially held down despite ever-increasing trade and budget deficits, the more the rest of the world will pull out of the dollar market.”
Well, US T-bill and bond yields have been steadily falling since the early ’80’s, so the rest of the world is certainly taking its time pulling out of the dollar market. 😎
See: “Graphs-US Government Debt Instruments + corporate bonds”
http://onebornfreesfinancialsafetyreports.blogspot.com/2019/11/graphs-us-government-debt-t-bills-bonds.html
“The dollar’s demotion will be painful. “
The economic future is unknowable. It might happen, but it might not, nobody knows for certain.
“If it were possible to calculate the future structure of the market, the future would not be uncertain. There would be neither entrepreneurial loss nor profit. What people expect from the economists is beyond the power of any mortal man.” Ludwig Von Mises.
“The only function of economic forecasting is to make astrology look respectable.“ John Kenneth Galbraith
Regards, onebornfree
But also read the caveats:Replies: @anon, @Charlotte
Third caveat: even if the true mortality efficacy of ivermectin for early covid is actually close to the 70% relative reduction found in the metanalyses above is correct, this is still well below the mortality reduction of the main vaccines.
This is a misleading paragraph, because we still do not know all that much about the “mortality reduction of the main vaccines”. We have some extrapolations, but the mortality reduction has confounding values. Just the act of giving COVD-19 victims oxygen rather than putting them on ventilators reduced mortality, for example. Because as we all should have known for over a years, SARS-2 is a vascular disease that is spread via the respiratory route.
The tldr is obvious: Ivermectin works. It most likely works by physically occupying the ACE-2 “socket” that the SARS-2 spike protein uses to attach to cells.
People died in the last 12 months because they were denied effective treatment with Ivermectin by “authorities”.
That ought to be a scandal, justifying Senatorial hearings and jail time for some, but it will not be, because….reasons.
Our debt is far too high to raise interest rates. They are trapped. Nothing they can do will solve this.
Decline?
It’s gonna be an economic carpet nuking. The American continent will be reduced to a thousand years of global Somalia. The latinos are trying to dodge it with crypto, but it won’t work, the carnage will be infinite
The chief troubles are growing corruption in federal contracting, lack of tariff protection, and the Great Replacement. Monetary policy is more than a mere minor detail, admittedly; but it is not what chiefly ails the U.S. now. Also, monetary policy is not as bad as you think.
It's going to look bad for a while no matter what monetary policy is chosen, but this will be chiefly due to the probably inevitable dedollarization of global trade, at which point @A123's MAGA re-industrialization kicks in. As I said, it will be all right. You will see.
Once the SHTF, everything will be on sale, permanently. That's the price deflationary part of a hyperinflationary future.
Interest rates may look tempting, but when you end up sitting in a $50,000 house that your mortgage has you paying for the $500,000 loan you took out, you will be so far behind the only solution is to send the keys to the lender.
Wait, and put your money in what are today huge bargains - precious metals.Replies: @Realist, @dfordoom
Yes, indeed.
“the house or the 401(k) goes up 10% in a year”
If your real estate is only seeing 10% yoy, the property must be encircled by hard, brown ring of “diversity.” White enclaves (e.g. Idaho), are seeing 30% to 40% yoy as the Diversity hangover wears off.
The “owners” of the US, i.e. the oligarch class, don’t care one whit about the Dollar. What they want is legal title to all the assets in the US, which is evidenced in only a small part by the scramble to buy up all the properties that hit the market at serious premiums to what the little guy can pony up even with 100% leverage. They will collect rents or subscription fees for the use of their assets from John & Jane Q. Public.
There are several ways this can play out, but all of them leave people who thought they owned their homes as renters, and if they are lucky enough to still be working or just getting by on UBI, the uplifts to the wages or incomes will barely keep pace with the inflation uplifts to rents.
Remember, it’s already a publicised plan: In 2030, you will own nothing, you will rent what you need, and you will be happy.
It's gonna be an economic carpet nuking. The American continent will be reduced to a thousand years of global Somalia. The latinos are trying to dodge it with crypto, but it won't work, the carnage will be infiniteReplies: @V. K. Ovelund
It will be all right. You will see.
The chief troubles are growing corruption in federal contracting, lack of tariff protection, and the Great Replacement. Monetary policy is more than a mere minor detail, admittedly; but it is not what chiefly ails the U.S. now. Also, monetary policy is not as bad as you think.
It’s going to look bad for a while no matter what monetary policy is chosen, but this will be chiefly due to the probably inevitable dedollarization of global trade, at which point ’s MAGA re-industrialization kicks in. As I said, it will be all right. You will see.
All the rent moratoriums were meant to force small time landlords who own 2 to 4 rental houses or duplexes to sell. They havent gotten paid in a year and cant kick out deadbeats because covid.
Whole thing was obviously meticulously planned.
Jerome Powell at a recent Fed meeting: “Our position is that inflationary pressures are transient. If I hear any of you saying otherwise, I will make you a transient…permanently!”
No one mentioned nuclear war. This should be added to the mix of possible outcomes. The rulers of the U.S. are of course becoming increasingly incompetent and impulsive. Further, staying on-topic, they will be increasingly stressed and petulant because of economic collapse. Miscalculation, systems-error, frustration and petulance.
the people who run the central banks are a 160 IQ organized crime syndicate and what’s happening now is a “bust out” of America and the West
https://www.youtube.com/watch?v=qgVtn-HZELwReplies: @notanon
nb they are planning to blame their COVID hoax for the economic collapse they created.
Once the SHTF, everything will be on sale, permanently. That's the price deflationary part of a hyperinflationary future.
Interest rates may look tempting, but when you end up sitting in a $50,000 house that your mortgage has you paying for the $500,000 loan you took out, you will be so far behind the only solution is to send the keys to the lender.
Wait, and put your money in what are today huge bargains - precious metals.Replies: @Realist, @dfordoom
Of course if the S doesn’t hit the F then those people who have made all their plans on the assumption of economic collapse are going to look very foolish.
The current currency printing trend, when looked at graphically, can't be more clear to someone with a math or science background. The word is asymptotic, and every engineer will tell you it is a failure curve.Replies: @notanon
If no shit hits any fans then I'm still living the life I prefer anyhow.
No man is an island, and if you don't have a community of real people to fall back on I don't think that even the most hard core prepper is going to be getting very far. It's possible with community to live a fairly rich life in even significant poverty.Replies: @dfordoom
I have full confidence in the US Fed Gov and the Federal Reserve to do what every other country in history has done to their fiat currency.
The current currency printing trend, when looked at graphically, can’t be more clear to someone with a math or science background. The word is asymptotic, and every engineer will tell you it is a failure curve.
right, central banking is simply legalized counterfeiting; they're gangsters and have been deliberately enriching themselves by debasing the currency since 1913
https://www.visualcapitalist.com/wp-content/uploads/2021/03/Purchasing-Power-of-the-U.S.-Dollar.jpg
as you say, it was always going to end in collapse eventually
(although I'd say it's not limited to fiat currencies - Rome and all the other early civilizations had the same problem except with silver and gold currency getting debased over time by their version of banking mafia).Replies: @RoatanBill, @Achmed E. Newman
The current currency printing trend, when looked at graphically, can't be more clear to someone with a math or science background. The word is asymptotic, and every engineer will tell you it is a failure curve.Replies: @notanon
“what every other country in history has done to their fiat currency”
right, central banking is simply legalized counterfeiting; they’re gangsters and have been deliberately enriching themselves by debasing the currency since 1913
as you say, it was always going to end in collapse eventually
(although I’d say it’s not limited to fiat currencies – Rome and all the other early civilizations had the same problem except with silver and gold currency getting debased over time by their version of banking mafia).
The miners should mine it, the smelters should purify it and the mints should coin it. That then leaves the public with real money. It wouldn't matter which mint struck the coin or what region of the world it came from if the coins had it's weight and purity stamped on it instead of some dead president or animal and some arbitrary currency figure.
No more currency arbitrage, no more gov't sponsored inflation (theft), no more wars put on a credit card. As soon as gov't gets involved, it's a slow but steady decline to steal from the working people to support the corrupt political class.
But also read the caveats:Replies: @anon, @Charlotte
I know a guy who was pretty sure he’d caught Covid back in March 2020. After three weeks of symptoms that weren’t resolving themselves, he took one of his horse’s ivermectin pills (it’s a common worm medicine for animals). While I don’t recommend taking a horse-size dose like he did, he got over the Covid symptoms in two or three days.
right, central banking is simply legalized counterfeiting; they're gangsters and have been deliberately enriching themselves by debasing the currency since 1913
https://www.visualcapitalist.com/wp-content/uploads/2021/03/Purchasing-Power-of-the-U.S.-Dollar.jpg
as you say, it was always going to end in collapse eventually
(although I'd say it's not limited to fiat currencies - Rome and all the other early civilizations had the same problem except with silver and gold currency getting debased over time by their version of banking mafia).Replies: @RoatanBill, @Achmed E. Newman
That’s why no gov’t should have anything to do with money.
The miners should mine it, the smelters should purify it and the mints should coin it. That then leaves the public with real money. It wouldn’t matter which mint struck the coin or what region of the world it came from if the coins had it’s weight and purity stamped on it instead of some dead president or animal and some arbitrary currency figure.
No more currency arbitrage, no more gov’t sponsored inflation (theft), no more wars put on a credit card. As soon as gov’t gets involved, it’s a slow but steady decline to steal from the working people to support the corrupt political class.
Complete techno feudalism
The mass inflation completely wipes out the middle and working classes and reduces them to penury. Mass bankruptcies occur. What little remains of small businesses are wiped out by the depression and big corporations like Amazon and walmart take control of 100% of the market share.
Wages fall to nothing and most of the land and property are bought up by the banks and finace sharks. Most people now own nothing and rent everything.
Degeneracy goes into overdrive as all drugs are de facto legalized, alcoholism and suicide skyrockets. The last sensible white people flee to Latin Ameirca and Europe before the mass violence begins. Blacks are fully unleashed by the central state on the popluation in order to keep in a state of terror and mayhem.
You are not allowed to touch the black rapist, arsonit or marauder lest you be thrown in prison by the local Jewish DA for terrorism and hate crime.
End of Empire
The situation gets so bad that law and order fall apart. The ability of the government to control the country collapses as people switch to bartering, self sufficient local economies and community policing. The US military ceases to be a fighting force as its paid shit and all the good men leave and the vacant positions are filled trannies, antifa druggies, black criminals and cartel members.
Gov salaries across the board fall and the state stops functioning. The over-financialized economy is wiped out and due to the fall of the dollar, the import baed economy crumbles. Unemployment rises to 30-40%.
Gov has no ability to fix this with UBI. Parts of the US secede to escape the chaos. Local counties band together and secede from the union to escape ever more punishing taxes and FBI/police state repression.
The US military in a state of shambles due to demoralization and anarchy is unable to stop it. Large part of the US elite no longer want any part of this ruin.
The US falls apart as parts of it secede. DC is forced to call its armies home and slash the military as the Empire endsReplies: @Barbarossa
Why not both?
We are definitely headed for Techno Feudalism and in many ways are already substantially there. The vestiges of the previous order are still hanging tattered, but they don’t bear close inspection.
The best part about the Techno Feudalists is that they are not tied to the U.S. in any meaningful way, so if and when the last penny has been wrung out of American consumers we can be abandoned for more lucrative pastures.
I would bet on Techno Feudalism first and collapse second.
At least we’ll have something to look forward to!
Personally, I don’t geek out over prepper things to any great degree, but the the values that I have in life (low to no debt, investment in my own property and tools, having a big family, investing in local relationships) have the handy aspect of potentially serving quite well if the SHTF.
If no shit hits any fans then I’m still living the life I prefer anyhow.
No man is an island, and if you don’t have a community of real people to fall back on I don’t think that even the most hard core prepper is going to be getting very far. It’s possible with community to live a fairly rich life in even significant poverty.
I don't know how much my house is worth. I honestly don't have a clue. I have no intention of selling so the question is irrelevant.
I can see the benefit to rich people who can afford to buy multiple investment houses but I don't see any benefit to ordinary home-owners.Replies: @Tom Marvolo Riddle, @Audacious Epigone
Just reverse mortgage goyim, your kids hate you anyways, screw em.
Wealth inequality will get even worse, we are already past Brazil levels. The elites aren’t content with merely being the aristocracy. What they want to be now are technocratic pharaohs ruling over an increasingly dumb and divided serfdom. I’d say the plan is about 70% complete at this point. Everyone will live in apartments owned by the oligarchs, you step out of line and you join the teeming masses of homeless living in tent cities.
That’s the reason for the war on cops too. They want to harden the hearts of the enforcement class, remove their sympathy for those they watch over, and it’s working.
Get out while you can.
That said, there are a lot of external variables that affect our economy, the strength of the dollar, willingness to finance our deficits and so on. I don't have a crystal ball, but our major economic competitors are not immune to bad judgment as well on the part of their leaders that ultimately benefit us. But betting on the competition being less responsible/competent is not a strategy, either.
It's been clear for at least 20 years (and perhaps I am blinded by my age) that our elites are not up to the challenge of positioning America for sustained prosperity and stability - in fact, since the Obama years it seems their goal is the opposite.Replies: @RoatanBill, @Achmed E. Newman
Arclight, The Mandibles is an excellent prepper novel by an author that one wouldn’t figure would be one. She lives in Brooklyn, NYC and London, and she writes about what she knows, which is NYC and the woman’s perspective. Still, this book describes a more and more likely scenario, as you say. Peak Stupidity thought so much of her scenarios for the economic downfall of the US that we have a 6-part (yep, that’s 6) review of it:
Introduction
Part 2
Part 3
Part 4
Part 5
Conclusion
right, central banking is simply legalized counterfeiting; they're gangsters and have been deliberately enriching themselves by debasing the currency since 1913
https://www.visualcapitalist.com/wp-content/uploads/2021/03/Purchasing-Power-of-the-U.S.-Dollar.jpg
as you say, it was always going to end in collapse eventually
(although I'd say it's not limited to fiat currencies - Rome and all the other early civilizations had the same problem except with silver and gold currency getting debased over time by their version of banking mafia).Replies: @RoatanBill, @Achmed E. Newman
I agree with you, notanon, but I don’t for a minute believe that a dollar in 1913 would get you only what 26 bucks gets you now. I think it’d be a lot closer to $100. The BLS has their green-eyeshade boys. They can be pretty creative.
What does a good suit cost now? How about a basic 1911A1 or Glock? There's your index from one point of view.Replies: @Adam Smith
https://www.measuringworth.com/dollarvaluetoday/?amount=%241&from=1913
Here are a couple more meaningful ways to estimate that number...
Pretty grim.
In 1913 the US $20 coin contained one Troy ounce of gold. A feller could buy a good suit of clothes, or a Colt revolver with that coin. That’s when Colt revolvers were tools, not collectors items. Goods and services…
What does a good suit cost now? How about a basic 1911A1 or Glock? There’s your index from one point of view.
I agree with your comment but your numbers are a little off...
In 1920 you could slap a twenty dollar note on the counter at the bank and exchange it for a one ounce gold coin (St. Gaudens) nominally valued at $20. (or vice versa)
Today the same one ounce gold coin (eagle) is nominally valued at $50.
https://www.apmex.com/product/1/1-oz-american-gold-eagle-bu-random-year
There’s your index from a different perspective.
☮Replies: @anon
Lionel Shriver – who in their right mind would name a girl after a model train set?
If no shit hits any fans then I'm still living the life I prefer anyhow.
No man is an island, and if you don't have a community of real people to fall back on I don't think that even the most hard core prepper is going to be getting very far. It's possible with community to live a fairly rich life in even significant poverty.Replies: @dfordoom
True. If you’re alone in a cabin somewhere then having 20,000 cans of food, a pile of gold, several dozen guns and a million rounds of ammo isn’t going to save you.
Maybe some people really wouldn't mind it, but there aren't that many people which truly can get along well without human contact.
One of the things I'm actually looking forward to in our slide toward a less prosperous future is that it will force people to rely on each other more. Having to share skills, equipment, and time to all get along used to be the norm, and would be a welcome pro-social development. That is of course contingent on being in an area where that is possible and likely (i.e. probably not the 'burbs or the cities).
While the "prepper" thing seems to focus on neato stuff and hacks as well as legitimately useful skills which are lacking today, I would argue that it's more important to find a good community to be part of and then cultivate the relationships with those around you, so you know who can be counted on in a pinch.
A paranoid fortress mentality seems likely to accelerate a slide into complete anarchy if things really did go sour, where a communitarian outlook could easily preserve significant pockets of local order.Replies: @Achmed E. Newman, @dfordoom
yes
And that existence doesn’t make for a very worthwhile life, at least in my book.
Maybe some people really wouldn’t mind it, but there aren’t that many people which truly can get along well without human contact.
One of the things I’m actually looking forward to in our slide toward a less prosperous future is that it will force people to rely on each other more. Having to share skills, equipment, and time to all get along used to be the norm, and would be a welcome pro-social development. That is of course contingent on being in an area where that is possible and likely (i.e. probably not the ‘burbs or the cities).
While the “prepper” thing seems to focus on neato stuff and hacks as well as legitimately useful skills which are lacking today, I would argue that it’s more important to find a good community to be part of and then cultivate the relationships with those around you, so you know who can be counted on in a pinch.
A paranoid fortress mentality seems likely to accelerate a slide into complete anarchy if things really did go sour, where a communitarian outlook could easily preserve significant pockets of local order.
That struck me too. While it’s a nice striking graphic it seemed way too conservative an estimate.
https://www.measuringworth.com/dollarvaluetoday/?amount=%241&from=1913
Here are a couple more meaningful ways to estimate that number…
Pretty grim.
Maybe some people really wouldn't mind it, but there aren't that many people which truly can get along well without human contact.
One of the things I'm actually looking forward to in our slide toward a less prosperous future is that it will force people to rely on each other more. Having to share skills, equipment, and time to all get along used to be the norm, and would be a welcome pro-social development. That is of course contingent on being in an area where that is possible and likely (i.e. probably not the 'burbs or the cities).
While the "prepper" thing seems to focus on neato stuff and hacks as well as legitimately useful skills which are lacking today, I would argue that it's more important to find a good community to be part of and then cultivate the relationships with those around you, so you know who can be counted on in a pinch.
A paranoid fortress mentality seems likely to accelerate a slide into complete anarchy if things really did go sour, where a communitarian outlook could easily preserve significant pockets of local order.Replies: @Achmed E. Newman, @dfordoom
I agree with your take on community, Barbarossa, but in defense of the preppers, from what I used to read (just been off those sites for a few years), this is one of their MAIN points in their writing.
Haha, that’s about what I wrote in the Intro. of my review, #380! However, Margaret Ann Shriver changed her name to Lionel at age 15. She’s a weirdo, but a great writer. I just got done with We need to talk about Kevin. I wouldn’t have thought it’s my kind of book, but it’s freakin’ riveting.
Maybe some people really wouldn't mind it, but there aren't that many people which truly can get along well without human contact.
One of the things I'm actually looking forward to in our slide toward a less prosperous future is that it will force people to rely on each other more. Having to share skills, equipment, and time to all get along used to be the norm, and would be a welcome pro-social development. That is of course contingent on being in an area where that is possible and likely (i.e. probably not the 'burbs or the cities).
While the "prepper" thing seems to focus on neato stuff and hacks as well as legitimately useful skills which are lacking today, I would argue that it's more important to find a good community to be part of and then cultivate the relationships with those around you, so you know who can be counted on in a pinch.
A paranoid fortress mentality seems likely to accelerate a slide into complete anarchy if things really did go sour, where a communitarian outlook could easily preserve significant pockets of local order.Replies: @Achmed E. Newman, @dfordoom
The big advantage of focusing on communitarianism is that even if the collapse doesn’t happen, you still win because you get to be part of a community.
What does a good suit cost now? How about a basic 1911A1 or Glock? There's your index from one point of view.Replies: @Adam Smith
“In 1913 the US $20 coin contained one Troy ounce of gold…”
I agree with your comment but your numbers are a little off…
In 1920 you could slap a twenty dollar note on the counter at the bank and exchange it for a one ounce gold coin (St. Gaudens) nominally valued at $20. (or vice versa)
Today the same one ounce gold coin (eagle) is nominally valued at $50.
https://www.apmex.com/product/1/1-oz-american-gold-eagle-bu-random-year
There’s your index from a different perspective.
☮
Today the same one ounce gold coin (eagle) is nominally valued at $50.
The site you linked to, apmex.com, prices that coin higher than $50 in Federal Reserve Notes. Perhaps you were confused?
To be precise, apmex prices that coin at $2,025.59, a bit higher than the London gold price of around $1891. There are many sites with world market metals information, here is one.
https://www.kitco.com/market/
There’s your index from a different perspective.
Thanks.Replies: @Adam Smith
I agree with your comment but your numbers are a little off...
In 1920 you could slap a twenty dollar note on the counter at the bank and exchange it for a one ounce gold coin (St. Gaudens) nominally valued at $20. (or vice versa)
Today the same one ounce gold coin (eagle) is nominally valued at $50.
https://www.apmex.com/product/1/1-oz-american-gold-eagle-bu-random-year
There’s your index from a different perspective.
☮Replies: @anon
In 1920 you could slap a twenty dollar note on the counter at the bank and exchange it for a one ounce gold coin (St. Gaudens) nominally valued at $20. (or vice versa)
Today the same one ounce gold coin (eagle) is nominally valued at $50.
The site you linked to, apmex.com, prices that coin higher than $50 in Federal Reserve Notes. Perhaps you were confused?
To be precise, apmex prices that coin at $2,025.59, a bit higher than the London gold price of around $1891. There are many sites with world market metals information, here is one.
https://www.kitco.com/market/
There’s your index from a different perspective.
Thanks.
https://www.apmex.com/product/9/canada-1-oz-gold-maple-leaf-9999-fine-bu-random-year
The Canadian Gold Maple Leaf is 99.99% pure, equivalent to 24 karats, and contains no base metals. Its purity, weight, and content are guaranteed by the Canadian Government.
The Gold Eagle consists of 91.67% gold, 5.33% copper and 3% silver resulting in an approximately 22 karat coin.
The St. Gaudens gold coin contains 90% gold and 10% copper.
The Krugerrand is 22 karats, or 91.67%, gold, with 8.33% copper alloy.
A gold coin is a gold coin, though some are of higher quality.
A $50 dollar gold coin is worth $50 or $2025 Federal Reserve Notes.
A $1 dollar silver coin is worth $1 or $35 Federal Reserve Notes.
The fact that you could trade a $20 note for a $20 St. Gaudens in 1920 demonstrates how much purchasing power the reserve note has lost since that time. In 2001 gold spot was still in the $270(ish) range. As gold holds it value you can see how much purchasing power the reserve note has lost in the last 20 years.
☮Replies: @anon, @Barbarossa
Today the same one ounce gold coin (eagle) is nominally valued at $50.
The site you linked to, apmex.com, prices that coin higher than $50 in Federal Reserve Notes. Perhaps you were confused?
To be precise, apmex prices that coin at $2,025.59, a bit higher than the London gold price of around $1891. There are many sites with world market metals information, here is one.
https://www.kitco.com/market/
There’s your index from a different perspective.
Thanks.Replies: @Adam Smith
While the London Gold price is $1891 (Kitco spot price is $1877) precious metals currently sell at a premium in most places. A $50 U.S. Gold Eagle carries a higher premium than a $50 Canadian Gold Maple Leaf, for example, even though the maple leaf is a higher quality coin.
https://www.apmex.com/product/9/canada-1-oz-gold-maple-leaf-9999-fine-bu-random-year
The Canadian Gold Maple Leaf is 99.99% pure, equivalent to 24 karats, and contains no base metals. Its purity, weight, and content are guaranteed by the Canadian Government.
The Gold Eagle consists of 91.67% gold, 5.33% copper and 3% silver resulting in an approximately 22 karat coin.
The St. Gaudens gold coin contains 90% gold and 10% copper.
The Krugerrand is 22 karats, or 91.67%, gold, with 8.33% copper alloy.
A gold coin is a gold coin, though some are of higher quality.
A $50 dollar gold coin is worth $50 or $2025 Federal Reserve Notes.
A $1 dollar silver coin is worth $1 or $35 Federal Reserve Notes.
The fact that you could trade a $20 note for a $20 St. Gaudens in 1920 demonstrates how much purchasing power the reserve note has lost since that time. In 2001 gold spot was still in the $270(ish) range. As gold holds it value you can see how much purchasing power the reserve note has lost in the last 20 years.
☮
Thanks, though.
I remember when it was down to $350ish and silver was about $9 an ounce.
Guess I should have gotten a bigger paper route...
https://www.apmex.com/product/9/canada-1-oz-gold-maple-leaf-9999-fine-bu-random-year
The Canadian Gold Maple Leaf is 99.99% pure, equivalent to 24 karats, and contains no base metals. Its purity, weight, and content are guaranteed by the Canadian Government.
The Gold Eagle consists of 91.67% gold, 5.33% copper and 3% silver resulting in an approximately 22 karat coin.
The St. Gaudens gold coin contains 90% gold and 10% copper.
The Krugerrand is 22 karats, or 91.67%, gold, with 8.33% copper alloy.
A gold coin is a gold coin, though some are of higher quality.
A $50 dollar gold coin is worth $50 or $2025 Federal Reserve Notes.
A $1 dollar silver coin is worth $1 or $35 Federal Reserve Notes.
The fact that you could trade a $20 note for a $20 St. Gaudens in 1920 demonstrates how much purchasing power the reserve note has lost since that time. In 2001 gold spot was still in the $270(ish) range. As gold holds it value you can see how much purchasing power the reserve note has lost in the last 20 years.
☮Replies: @anon, @Barbarossa
That’s a lot of words to agree with my original point.
Thanks, though.
That’s a good point. A lot of the preppers that I’ve conversed with have been a bit more fortress mentality, but I suspect that preppers are like libertarians, in that generalizations are rather useless since they encompass such a wide variety of opinion.
https://www.apmex.com/product/9/canada-1-oz-gold-maple-leaf-9999-fine-bu-random-year
The Canadian Gold Maple Leaf is 99.99% pure, equivalent to 24 karats, and contains no base metals. Its purity, weight, and content are guaranteed by the Canadian Government.
The Gold Eagle consists of 91.67% gold, 5.33% copper and 3% silver resulting in an approximately 22 karat coin.
The St. Gaudens gold coin contains 90% gold and 10% copper.
The Krugerrand is 22 karats, or 91.67%, gold, with 8.33% copper alloy.
A gold coin is a gold coin, though some are of higher quality.
A $50 dollar gold coin is worth $50 or $2025 Federal Reserve Notes.
A $1 dollar silver coin is worth $1 or $35 Federal Reserve Notes.
The fact that you could trade a $20 note for a $20 St. Gaudens in 1920 demonstrates how much purchasing power the reserve note has lost since that time. In 2001 gold spot was still in the $270(ish) range. As gold holds it value you can see how much purchasing power the reserve note has lost in the last 20 years.
☮Replies: @anon, @Barbarossa
I just wish I had had the wherewithal when I was an avid coin collecting youngster in the late 90’s to stock right up on gold bullion.
I remember when it was down to $350ish and silver was about $9 an ounce.
Guess I should have gotten a bigger paper route…
All this funny money, fiat currency, is headed for the dumpster. TPTsB will try to inject the SDR's but that's just a basket of shit currencies, so it has no chance at succeeding to prop up phony money.
At some point, a major gold holder country will announce that their bullshit currency is backed, at least partially by gold. That will crater every pure fiat currency the next day and revalue gold simultaneously. Every country on the planet will then confiscate their citizen's gold to TRY to cope just as that asshat FDR did a century ago.
Trouble is that any country that can't point at some natural resource to back up their paper will hit depression in a heart beat. Chile can try to put copper behind their currency. The Arabs could try oil. The US could try food as that's just about the only thing the rest of the world wants from the US.
When the SHTF with some black swan event, the entire world's fiat fantasy will end abruptly.Replies: @beavertales
“Ask yourself why Russia, China, India, and many other country’s central banks are loading up on gold, the barbarous relic. China has encouraged their people to own gold.”
Canada liquidated its sovereign gold reserves and put its blind faith in fiat currency. Canada’s rulers don’t believe it’s a country. They believe it’s a resource-rich territory open to all, a ‘post-national’ entity where anyone with money can buy a stake.
The flag of Canada could be Justin Trudeau holding his ass-cheeks open.
The Canadian gov't is completely dysfunctional. Jordan Peterson proved that with his appeals for free speech against the insanity that's official policy.
You should be looking forward to a reset because it will clean out all the lunacy simply because nature won't allow it to continue. It's been in place only via temporary artificial means and the conditions that allowed it are rapidly disappearing.Replies: @A123
Canada liquidated its sovereign gold reserves and put its blind faith in fiat currency. Canada's rulers don't believe it's a country. They believe it's a resource-rich territory open to all, a 'post-national' entity where anyone with money can buy a stake.
The flag of Canada could be Justin Trudeau holding his ass-cheeks open.Replies: @RoatanBill
I don’t pay much attention to Canada but my overall impression is that the people are very nice because they are our favorite customers here on the island. Very polite, not pushy, completely reasonable folks; very civilized, not like the immediately recognizable USians.
The Canadian gov’t is completely dysfunctional. Jordan Peterson proved that with his appeals for free speech against the insanity that’s official policy.
You should be looking forward to a reset because it will clean out all the lunacy simply because nature won’t allow it to continue. It’s been in place only via temporary artificial means and the conditions that allowed it are rapidly disappearing.
I keep hoping that rational leadership will emerge, but so far there is little luck in that regard.
PEACE 😇
__________
(1) https://www.jihadwatch.org/2021/05/canada-pro-palestinian-protests-reminiscent-of-nazi-germany-turn-violent-in-toronto-and-montrealReplies: @RoatanBill
The Canadian gov't is completely dysfunctional. Jordan Peterson proved that with his appeals for free speech against the insanity that's official policy.
You should be looking forward to a reset because it will clean out all the lunacy simply because nature won't allow it to continue. It's been in place only via temporary artificial means and the conditions that allowed it are rapidly disappearing.Replies: @A123
Canada’s failed government is leading towards a dystopian state. (1)
Christians in Canada are under threats that are much worse than those in the U.S. And, their courts are even worse than the U.S. Judiciary.
I keep hoping that rational leadership will emerge, but so far there is little luck in that regard.
PEACE 😇
__________
(1) https://www.jihadwatch.org/2021/05/canada-pro-palestinian-protests-reminiscent-of-nazi-germany-turn-violent-in-toronto-and-montreal
White people have too much to lose to organize a protest to test my hypothesis. The trash in the society has nothing to lose, so they can afford to take the risk and act out. The very people that work to keep everything running are the ones put upon by the trash they are forced to provide a living for.
If enough white people lose their jobs, maybe that segment will feel entitled to act out just as the blacks and antifa savages now do. Given the inflation people actually feel (http://www.chapwoodindex.org/) and the general direction the economy seems headed for, the future might provide the conditions for a portion of whites to finally say enough and take vigilante action.
I keep hoping that rational leadership will emerge, but so far there is little luck in that regard.
PEACE 😇
__________
(1) https://www.jihadwatch.org/2021/05/canada-pro-palestinian-protests-reminiscent-of-nazi-germany-turn-violent-in-toronto-and-montrealReplies: @RoatanBill
It would appear that any group that manages to organize sufficient numbers can cause the ‘authorities’ to look the other way. If 10,000 white people decided to show up to ransack the mayors office, what could the cops do about it?
White people have too much to lose to organize a protest to test my hypothesis. The trash in the society has nothing to lose, so they can afford to take the risk and act out. The very people that work to keep everything running are the ones put upon by the trash they are forced to provide a living for.
If enough white people lose their jobs, maybe that segment will feel entitled to act out just as the blacks and antifa savages now do. Given the inflation people actually feel (http://www.chapwoodindex.org/) and the general direction the economy seems headed for, the future might provide the conditions for a portion of whites to finally say enough and take vigilante action.
I say:SHAPIROISM IS EVIL AND TREASONOUS AND IT MUST BE VANQUISHED!BlackRock is an evil and treasonous and immoral outfit dedicated to attacking and destroying the European Christian ancestral core of the USA and BlackRock is using central banker shysterism to attack and destroy AFFORDABLE FAMILY FORMATION in the USA.BlackRock is using the monetary extremism of the Federal Reserve Bank to grab hold of control of the residential real estate market in order to perpetuate WHITE GENOCIDE in the USA. The patriotic answer to the evil of BlackRock is to raise the federal funds rate to 6 percent and implode the asset bubble in real estate and then use local property tax hikes to squeeze the pips of BlackRock so hard they'll start squeaking. BlackRock owned real estate must be taxed so high that Larry Fink will be screaming in horror before he is financially liquidated and then forcibly exiled to sub-Saharan Africa.BlackRock Must be Financially Liquidated Immediately!I wrote this about Ben Shapiro and Dinesh D'Souza in November of 2019:Nick Fuentes patriotically pointed out that Dinesh D’Souza attacked Sam Francis by the most foul means and that D’Souza is no friend to FREE SPEECH nor honest intellectual enquiry.Sam Francis worked as a staffer in the US Congress and he had a PH.D from the University of North Carolina and Sam Francis was a wise man with guts and brains and heart and he was viciously attacked by that horrible ruling class stooge whore scamp named Dinesh D’Souza.Dinesh D’Souza was Ben Shapiro before Shapiro was Shapiro, and I am glad that young Mr. Fuentes and his Patriotic Groyper Army are engaging with the evil forces of Shapiroism every chance they get.Conservatism Inc. and the Republican Party are inundated and infested with Ben Shapiro and Dinesh D’Souiza type scoundrels, and they must be met on the battlefield of FREE SPEECH and OPEN DEBATE.The historic American nation must bang it out bravely against Ben Shapiro and Dinesh D’Souza and the horrible treasonites in Conservatism Inc. and the rancid Republican Party.https://www.unz.com/article/the-groyper-wars-on-immigration-are-the-debate-that-american-nationalism-needs/#comment-3567907https://twitter.com/NorthmanTrader/status/1264551872179953664?s=20https://twitter.com/JDVance1/status/1402608156254117894?s=20Replies: @El Dato, @Audacious Epigone
Good to see members of the Respectable Right beginning to articulate how weaponized wokeness is a tool of the oligarchy rather than reflexively defending the oligarchy on the assumption that oligarchy = aristocracy. More people on the left are similarly coming to understand that weaponized wokeness is a tool of the oligarchy rather than reflexively defending wokeness even if it’s the oligarchy employing it. We’re getting somewhere.
Working class people won’t suffer as much as the financial class will in that case because the equity markets will collapse if interest rates go up. They crashed when Powell did a couple of 25 basis points increases in 2018. To get ahead of the current inflation, the Fed would have to raise by 500 points or more. Bye bye DJIA and Nasdaq if that happens.
I don't know how much my house is worth. I honestly don't have a clue. I have no intention of selling so the question is irrelevant.
I can see the benefit to rich people who can afford to buy multiple investment houses but I don't see any benefit to ordinary home-owners.Replies: @Tom Marvolo Riddle, @Audacious Epigone
The point that it’s a wash because you have to live somewhere is a good one. That said if you’re a boomer, especially a late boomer, a reverse mortgage does allow you to take real advantage of the wild increase in housing prices. Just make sure you’re dead by the time ownership is completely relinquished!
It gets back to a point I keep emphasising. We live in an era of phoney prosperity based on debt and we're addicted to it. I'd prefer to go back to prosperity based on saving.
The problem with prosperity based on debt is that the whole edifice can come tumbling down. If you take out a reverse mortgage the bank effectively owns your house. You're only renting. Not smart.
Yeah, a reverse mortgage is a bit like financial Russian roulette.
It gets back to a point I keep emphasising. We live in an era of phoney prosperity based on debt and we’re addicted to it. I’d prefer to go back to prosperity based on saving.
The problem with prosperity based on debt is that the whole edifice can come tumbling down. If you take out a reverse mortgage the bank effectively owns your house. You’re only renting. Not smart.