Chris, I agree, it is remarkable that there has seemingly been an awakening regarding the pitfalls of the current monetary system. In fact, I am working to try to help save folks via a new stable coin that is stable in "real' space, exactly tracking CPI. It is called USDi and we launched it last month. you can look at the website, usdicoin.com, to learn more about it.
We describe it as inflation linked cash, no duration, just inflation protection on chain.
while assets remain tiny, we believe the time has come for something like this to help people maintain the value of their dollars.
Very good article. Thank you. I was puzzled, though, about this......"and the resultant efforts undertaken by the Trump administration to try and correct the nation’s debt and deficit.".....I guess I don't see those efforts. He just proposed massive increases in the defense budget. And according to Bill Bonner and others, the proposed budget plans of both the Republican House and Senate will increase the national debt by 2035 to about $70 trillion!! And that is based on no recession or unexpected spending emergencies!! I think that is a doubling of the debt. What efforts are you referring to? DOGE (which I support) perhaps? I don't think that will even cover the proposed increases in 75% (wasteful) military spending, will it?
Correction: I meant to say.....(75% wasteful) military spending....in the last sentence. And the 75% figure is giving the benefit of an doubts to the DOD.
Inflation is the flat tax that so many think will solve things. It hits everyone's cash exactly the same way. And in a world where excess capital should earn a 3% return discounting all risk, the Fed offers money at around 4.5% and the inflation rate is quoted at around 2.4%. That's 90 basis points off the expected 3% riskless return which I believe can only happen if the supply of money is continuously juiced. So plan on inflation for the foreseeable future since Congress can't pass (and shouldn't pass) tax increases to put the budget in balance. Buy non-depreciating tangible goods that throw off a dividend. Real estate comes to mind. At least we aren't to the "money is an ice cube melting in your hand" stage we experienced in the last days of the Carter presidency.
Was waiting for the 80 sale. Missed it round Xmas. I credit this sub for getting our guy in Rogan. Thanks.
Agree man. 3 years ago went all in on getting out of cash and into paper (bonds) metal (gold/silver) dirt (real estate) and oil. Thank god I did.
So as to bitcoin. I was pondering it last night as I have not. Penny in it...but the feds have created a reserve using confiscated. It made me think of spectrum. To my knowledge one could have bought spectrum years ago for almost nothing. Most people had no clue what it was or couldn't wrap their mind around owning something they couldn't see or hold. None the less...this spectrum turned out to make more then a few very very wealthy. Today they govt auctions spectrum to the highest bidder.
Should bitcoin actually become a legitimate worldwide acknowledged and accepted store of value then who knows. Sky could be the limit.
For me the scary part is the competition it presents upon currencies. I think the bitcoin millionaire printing has done a lot of damage in the inflation arena as well. A lot of real estate got bid up because people turned the code to a hard asset and didn't care to over pay.
Remains to be seen how our Govnt truly responds to such currency competition from within.
Totally agree and love the gold miner play right now. I did not see the commercial yet, did it mention anything about the screwed up regs that allow banks to print money as well? Glad the working men and women are getting exposed to the situation on mainstream TV.
It’s always hard . . . Political Economy that is. It’s a knife edge trail above two chasms, on the left is the common man ruined by money printing and inflation. On the right is “crucifixtion on the cross of gold” with the common man ruined because he can’t get loans from anyone.
The topic is really binary — ruin vs. non-ruin. Inflation or deflation are the same thing — if you don’t have money and can’t get a job or a loan it’s all the same.
If someone wants to put on a policy Geek googles they see you lurch from William McChesny Martin to Volker to Greenspan to Bernanke to Yellen to now Powell. What they’ve all done may need another Volker. Even Powell! Sort of because he has to or it will all implode.
Yes $150 GDX is reasonable. There is almost no ceiling to where gold could go (well, let’s not get greedy) but just sayin. Will it be in some kind of eventual BRICS trade-related currency basket? Maybe 10,000 is the new 5,000. You can’t make a Pharoah’s tomb with Bitcoin! Eventually that will mean something again.
I wouldn't call it poking holes as much as simply not agreeing on principals. Inflation of supply inherently means making/creating more. This cannot be done with Bitcoin, outside of its predetermined schedule. Can the Bitcoin price tag of goods change? Absolutely - see real estate as a strong example. The USD/BTC ratio will continue to grow due to inflation on the fiat side of the equation. If Satoshis become worth more USD over time, that doesn't equate to (or result from) BTC inflation. In other words, there is no central determining force to adjust supply as they deem necessary but there may be price adjustments required to suit the limited supply.
To frame it a little differently:
If the USD wasn't inflationary and had a fixed supply, then the cost of goods would be deflationary - due to a limited supply of dollars, service providers and producers would need to reduce prices (or increase quality, perhaps) to compete. So an item may go from $1 to $0.50 (or 10 nickels). This is the purpose of a Satoshi - it makes Bitcoin divisible. While I know there aren't 21 quadrillion dollars out there... how many nickels are there? Pennies?
Chris, I agree, it is remarkable that there has seemingly been an awakening regarding the pitfalls of the current monetary system. In fact, I am working to try to help save folks via a new stable coin that is stable in "real' space, exactly tracking CPI. It is called USDi and we launched it last month. you can look at the website, usdicoin.com, to learn more about it.
We describe it as inflation linked cash, no duration, just inflation protection on chain.
while assets remain tiny, we believe the time has come for something like this to help people maintain the value of their dollars.
Then soon you’ll be able to play this simple song and sing, The Fuses Have Been Lit
https://youtu.be/T8croHcqQFA?si=Sx6lqw7OzAhqZLow
Ahh, the bank$ters.
Western financers justify actual stealing as 'seizing'.
The EU, English not being their 1st language, refers to the theft as 'transfer of immobilized' funds.
Lipstick on a pig. 🤐
https://enlargement.ec.europa.eu/news/first-transfer-eu15-billion-proceeds-immobilised-russian-assets-made-available-support-ukraine-today-2024-07-26_en
Very good article. Thank you. I was puzzled, though, about this......"and the resultant efforts undertaken by the Trump administration to try and correct the nation’s debt and deficit.".....I guess I don't see those efforts. He just proposed massive increases in the defense budget. And according to Bill Bonner and others, the proposed budget plans of both the Republican House and Senate will increase the national debt by 2035 to about $70 trillion!! And that is based on no recession or unexpected spending emergencies!! I think that is a doubling of the debt. What efforts are you referring to? DOGE (which I support) perhaps? I don't think that will even cover the proposed increases in 75% (wasteful) military spending, will it?
Correction: I meant to say.....(75% wasteful) military spending....in the last sentence. And the 75% figure is giving the benefit of an doubts to the DOD.
Inflation is the flat tax that so many think will solve things. It hits everyone's cash exactly the same way. And in a world where excess capital should earn a 3% return discounting all risk, the Fed offers money at around 4.5% and the inflation rate is quoted at around 2.4%. That's 90 basis points off the expected 3% riskless return which I believe can only happen if the supply of money is continuously juiced. So plan on inflation for the foreseeable future since Congress can't pass (and shouldn't pass) tax increases to put the budget in balance. Buy non-depreciating tangible goods that throw off a dividend. Real estate comes to mind. At least we aren't to the "money is an ice cube melting in your hand" stage we experienced in the last days of the Carter presidency.
Was waiting for the 80 sale. Missed it round Xmas. I credit this sub for getting our guy in Rogan. Thanks.
Agree man. 3 years ago went all in on getting out of cash and into paper (bonds) metal (gold/silver) dirt (real estate) and oil. Thank god I did.
So as to bitcoin. I was pondering it last night as I have not. Penny in it...but the feds have created a reserve using confiscated. It made me think of spectrum. To my knowledge one could have bought spectrum years ago for almost nothing. Most people had no clue what it was or couldn't wrap their mind around owning something they couldn't see or hold. None the less...this spectrum turned out to make more then a few very very wealthy. Today they govt auctions spectrum to the highest bidder.
Should bitcoin actually become a legitimate worldwide acknowledged and accepted store of value then who knows. Sky could be the limit.
For me the scary part is the competition it presents upon currencies. I think the bitcoin millionaire printing has done a lot of damage in the inflation arena as well. A lot of real estate got bid up because people turned the code to a hard asset and didn't care to over pay.
Remains to be seen how our Govnt truly responds to such currency competition from within.
Do you have an article that addresses your take on Coinbase?
Totally agree and love the gold miner play right now. I did not see the commercial yet, did it mention anything about the screwed up regs that allow banks to print money as well? Glad the working men and women are getting exposed to the situation on mainstream TV.
LOL . . . Paging Williams Jennings Bryan.
It’s always hard . . . Political Economy that is. It’s a knife edge trail above two chasms, on the left is the common man ruined by money printing and inflation. On the right is “crucifixtion on the cross of gold” with the common man ruined because he can’t get loans from anyone.
The topic is really binary — ruin vs. non-ruin. Inflation or deflation are the same thing — if you don’t have money and can’t get a job or a loan it’s all the same.
If someone wants to put on a policy Geek googles they see you lurch from William McChesny Martin to Volker to Greenspan to Bernanke to Yellen to now Powell. What they’ve all done may need another Volker. Even Powell! Sort of because he has to or it will all implode.
Yes $150 GDX is reasonable. There is almost no ceiling to where gold could go (well, let’s not get greedy) but just sayin. Will it be in some kind of eventual BRICS trade-related currency basket? Maybe 10,000 is the new 5,000. You can’t make a Pharoah’s tomb with Bitcoin! Eventually that will mean something again.
While it's true you cannot entomb a Pharoah with Bitcoin, you can:
1. Pay for goods online and across borders (in real time)
2. Verify authenticity without a chemistry set
3. Transport your wealth around the world using only your brain
That means something right now! and yes, I also buy/stack PMs :)
You're wealth in relation to the total supply of currency never suffers with Bitcoin...
Are we doing this again? The "one pizza can feed infinite people if you just cut the pieces small enough" thing?
I agree with everything else you posted fwiw.
I wouldn't call it poking holes as much as simply not agreeing on principals. Inflation of supply inherently means making/creating more. This cannot be done with Bitcoin, outside of its predetermined schedule. Can the Bitcoin price tag of goods change? Absolutely - see real estate as a strong example. The USD/BTC ratio will continue to grow due to inflation on the fiat side of the equation. If Satoshis become worth more USD over time, that doesn't equate to (or result from) BTC inflation. In other words, there is no central determining force to adjust supply as they deem necessary but there may be price adjustments required to suit the limited supply.
To frame it a little differently:
If the USD wasn't inflationary and had a fixed supply, then the cost of goods would be deflationary - due to a limited supply of dollars, service providers and producers would need to reduce prices (or increase quality, perhaps) to compete. So an item may go from $1 to $0.50 (or 10 nickels). This is the purpose of a Satoshi - it makes Bitcoin divisible. While I know there aren't 21 quadrillion dollars out there... how many nickels are there? Pennies?