Paul Krugman, Nobel Prize-winning economist: “…as Fatas puts it, one person’s debt is another person’s asset; or as I equivalently put it, debt is money we owe to ourselves…” Ergo, apparently, it’s not a problem.
I didn’t know there was a Nobel Prize awarded for comedy.
Please, logarithmic charts expressed as a percentage of GDP. The key to this mess is interest payments as a percentage of federal revenue. Everything else is pretty much noise.
Booze? Definitely a tradeable commodity. Makes me smile. Foraging? Yes! So much to learn.
I've joined a Weavers guild (what a struggle for me!), learning archery (am I really going to have to kill a rabbit?), and hoarding books (no more internet). As I said earlier in the thread, I was raised in a poor inner-city home and I in awe of the skills needed to simply produce what I eat. Fortunately, I have a curiosity that won't quit and I am willing to learn and take advice from others.
In the end, if I am wrong, and I am open to this...I will meet many people, acquire skills and have a great big laugh at myself for my 'prep' period.
We are all going to die, might as well have a blast!
Yesterday, gold tanked because the inflation rate was higher than expected. When inflation is lower than expected, money pours in to stocks, and gold declines. I have been losing tons of money on my gold investments over the past several years and don't know how much longer I can hold on. I'll take all the advice that I can get.
Expecting a political solution is wishful thinking. Politicians are incentivized to have a short-term horizon (i.e., high time preference), else they lose their chance to enrich themselves by looting the public.
The so-called Federal Debt is nothing more than an interest bearing savings account, only at the FRB instead of a commercial bank. It is only a debt in the sense that a savings account at a commercial bank is a debt owed to you..
The dollars to pay off the Federal debt are already on deposit at the FRB held in securities accounts. Paying it off involves moving it to reserve accounts. The process is as simple as your bank moving a maturing CD or money in your savings account to your checking account. Not a burden on anyone's grandchildren in any event.
The Federal government does not have to tax or borrow in order to spend. Even the head of the New York Fed, Beardsley Ruml, wrote in 1946 that "Taxation for Revenue is Obsolete." That article is still online numerous places. When the Federal government spends it creates dollars. When it taxes it destroys dollars. Much like a bank creates dollars when it makes a loan but the dollars disappear when the loan is payed off..
There is still a totally unneccesary law on the books that require the Treasury to issue bonds, notes, or bills when it creates more more dollars than it destroys. This has the effect of removing all those dollars from circulation so the only dollars left circulating are those created by commercial bank loans. Needless to say the bankers do not want that law to go away..
If this way of looking at money creation is new to you I can recommend p, 13-56 of Warren Mosler's book The 7 Deadly Inoccent Frauds of Economic Policy available free at his website MoslerEconomics.com
The widely available article The Fifteen Fatal Fallacies of Financial Fundamentalism is likewise excellent.
Lord Acton wrote in the 1800s "The issue which has swept down the centuries and will have to be fought sooner or later is the people versus the bankers.."
When gold gets to $5000, we'll all be sitting in our living rooms with the doors bolted, the lights off, the curtains drawn shut, and a shotgun across our laps.
I have been hearing about this problem for two decades and it just keeps getting bigger...........as the
"markets" go higher, housing goes higher, everything goes higher........except gold. silver, oil and nat gas........so someone needs to explain to me how an entity with a printing press is concerned about an interest payment? I am pretty confident it could double from here without any problems. And if Chump gets back in office, he'll be glad to see if he can be the first to get us there. Biggly!
As long as the world keeps taking shitty dollars for oil, and all other kinds of goods, there is not going to be a problem. Do you see anybody shying away from the bond market? Nope. They are thrilled with the higher interest they are earning.........and the government has an unlimited amount of dollars to give them.
You know why everyone is flocking to Shitcoin? Moar dollars. The whole world is on the "take," and as long as they keep getting moar dollars......they really don't give a shit. How do you stop moar dollars when they have a printing press? You think the Fed won't loan the money to the government so they can make their interest payment? Then you would be silly and naive.
Look at the Japanese and their quadrillions of yen. Doesn't seem to bother them.
They will pull the plug........when they have their digital infrastructure in place and ready to take over when all the sheeple come screaming and crying about their "dollar crisis."
Hey, I know........let's all go buy some shitcoin and get acclimated to the digital money phase. That'll show'em. When they roll out the all digital currency, we'll be old pros by then. We'll help them build the infrastructure for their digital prison while we are at it.........as long as we get paid, right?
Selling gold to buy platinum? Platinum is an order of magnitude rarer than gold. Mericans in general have no idea about the value of gold or silver so when the dollar collapses it is no good in the US anyway. I like it cause it looks beautiful and feels really good in your hands. Platinum also
Peter shared some great points during his last podcast, the main one being the arrival of this downturn. All they continue to do is add more time to the "ticking time bomb" that is our banking sector, US dollar reserve status, etc. Absolutely nothing has been solved. Just some duct tape has been applied.
of course Schiff has been screaming out for a total USD collapse for at least 25 years now.
He's "selling his book". Period. He sells gold. Let's see how well you would have done following his advice...and you bought gold 10m 20 yrs etc ago. Compare its current value with same investment in well pretty much ANY other investment. And there you have it. Gold has NOT been an effective inflation hedge over the last 20 yrs at least. Over 50 yrs, 100? Sure. Great.
It's ironic that Schiff with all his beotching about USD and debt and fiat.... still hates BTC which is the obvious escape pod from financial disaster he keeps clamoring on and on about like Moses in the Wilderness.
My 7th grade social studies teacher assigned us to cover the 1980 election.
Long story made short I remember Reagan talking about the 1 trillion debt and here we are decades later at 34 trillion
They can’t stop …they’re won’t stop until forced to stop.
It’s coming soon.
Paul Krugman, Nobel Prize-winning economist: “…as Fatas puts it, one person’s debt is another person’s asset; or as I equivalently put it, debt is money we owe to ourselves…” Ergo, apparently, it’s not a problem.
I didn’t know there was a Nobel Prize awarded for comedy.
Please, logarithmic charts expressed as a percentage of GDP. The key to this mess is interest payments as a percentage of federal revenue. Everything else is pretty much noise.
Yes! Yes! Yes!
Booze? Definitely a tradeable commodity. Makes me smile. Foraging? Yes! So much to learn.
I've joined a Weavers guild (what a struggle for me!), learning archery (am I really going to have to kill a rabbit?), and hoarding books (no more internet). As I said earlier in the thread, I was raised in a poor inner-city home and I in awe of the skills needed to simply produce what I eat. Fortunately, I have a curiosity that won't quit and I am willing to learn and take advice from others.
In the end, if I am wrong, and I am open to this...I will meet many people, acquire skills and have a great big laugh at myself for my 'prep' period.
We are all going to die, might as well have a blast!
Yesterday, gold tanked because the inflation rate was higher than expected. When inflation is lower than expected, money pours in to stocks, and gold declines. I have been losing tons of money on my gold investments over the past several years and don't know how much longer I can hold on. I'll take all the advice that I can get.
Expecting a political solution is wishful thinking. Politicians are incentivized to have a short-term horizon (i.e., high time preference), else they lose their chance to enrich themselves by looting the public.
The so-called Federal Debt is nothing more than an interest bearing savings account, only at the FRB instead of a commercial bank. It is only a debt in the sense that a savings account at a commercial bank is a debt owed to you..
The dollars to pay off the Federal debt are already on deposit at the FRB held in securities accounts. Paying it off involves moving it to reserve accounts. The process is as simple as your bank moving a maturing CD or money in your savings account to your checking account. Not a burden on anyone's grandchildren in any event.
The Federal government does not have to tax or borrow in order to spend. Even the head of the New York Fed, Beardsley Ruml, wrote in 1946 that "Taxation for Revenue is Obsolete." That article is still online numerous places. When the Federal government spends it creates dollars. When it taxes it destroys dollars. Much like a bank creates dollars when it makes a loan but the dollars disappear when the loan is payed off..
There is still a totally unneccesary law on the books that require the Treasury to issue bonds, notes, or bills when it creates more more dollars than it destroys. This has the effect of removing all those dollars from circulation so the only dollars left circulating are those created by commercial bank loans. Needless to say the bankers do not want that law to go away..
If this way of looking at money creation is new to you I can recommend p, 13-56 of Warren Mosler's book The 7 Deadly Inoccent Frauds of Economic Policy available free at his website MoslerEconomics.com
The widely available article The Fifteen Fatal Fallacies of Financial Fundamentalism is likewise excellent.
Lord Acton wrote in the 1800s "The issue which has swept down the centuries and will have to be fought sooner or later is the people versus the bankers.."
When gold gets to $5000, we'll all be sitting in our living rooms with the doors bolted, the lights off, the curtains drawn shut, and a shotgun across our laps.
Peter Schiff once said that Gold could hit $50.000. Hold on to your Gold Stocks for as long as you can!!
I have been hearing about this problem for two decades and it just keeps getting bigger...........as the
"markets" go higher, housing goes higher, everything goes higher........except gold. silver, oil and nat gas........so someone needs to explain to me how an entity with a printing press is concerned about an interest payment? I am pretty confident it could double from here without any problems. And if Chump gets back in office, he'll be glad to see if he can be the first to get us there. Biggly!
As long as the world keeps taking shitty dollars for oil, and all other kinds of goods, there is not going to be a problem. Do you see anybody shying away from the bond market? Nope. They are thrilled with the higher interest they are earning.........and the government has an unlimited amount of dollars to give them.
You know why everyone is flocking to Shitcoin? Moar dollars. The whole world is on the "take," and as long as they keep getting moar dollars......they really don't give a shit. How do you stop moar dollars when they have a printing press? You think the Fed won't loan the money to the government so they can make their interest payment? Then you would be silly and naive.
Look at the Japanese and their quadrillions of yen. Doesn't seem to bother them.
They will pull the plug........when they have their digital infrastructure in place and ready to take over when all the sheeple come screaming and crying about their "dollar crisis."
Hey, I know........let's all go buy some shitcoin and get acclimated to the digital money phase. That'll show'em. When they roll out the all digital currency, we'll be old pros by then. We'll help them build the infrastructure for their digital prison while we are at it.........as long as we get paid, right?
Selling gold to buy platinum? Platinum is an order of magnitude rarer than gold. Mericans in general have no idea about the value of gold or silver so when the dollar collapses it is no good in the US anyway. I like it cause it looks beautiful and feels really good in your hands. Platinum also
Peter shared some great points during his last podcast, the main one being the arrival of this downturn. All they continue to do is add more time to the "ticking time bomb" that is our banking sector, US dollar reserve status, etc. Absolutely nothing has been solved. Just some duct tape has been applied.
Linked Peter's analysis on Sunday @https://nothingnewunderthesun2016.com/. He usually has some great points.
of course Schiff has been screaming out for a total USD collapse for at least 25 years now.
He's "selling his book". Period. He sells gold. Let's see how well you would have done following his advice...and you bought gold 10m 20 yrs etc ago. Compare its current value with same investment in well pretty much ANY other investment. And there you have it. Gold has NOT been an effective inflation hedge over the last 20 yrs at least. Over 50 yrs, 100? Sure. Great.
It's ironic that Schiff with all his beotching about USD and debt and fiat.... still hates BTC which is the obvious escape pod from financial disaster he keeps clamoring on and on about like Moses in the Wilderness.
Gold is gold. Just remember poor people don't have gold.
When they force us to a digital currency, gold will still have value. Might not be easy to spend with Big Brother watching, but will have value b
Totally Love Your Disclaimer!!!!! Brilliant! 👌💪👊