That's the problem with precious metals. Governments will outlaw private ownership to protect the fiat currency. If it were legal to demand gold or any other finite commodity in payment all fiat currencies would collapse.
Every fiat currency ever devised has eventually collapsed. Not sure why this time is different.
Patriotism (and religion) is the last refuge of a scoundrel.
Mike Maloney related something told to him by Steve Forbes years ago: Currency is supposed to be like a claim check on a specified amount of something of value (traditionally gold or silver, i.e., real specie money). Short of that, it's a scam. It's like a restaurant coat check girl who thinks that if she prints up more claim checks for the customer's coats, more coats will appear in the coat closet.
When Banks Fail the First Thing that gets Settled are their Derivative Accounts ..
Right now Other Banks are Assuming those Liabilities of the Failed Banks ..
The Derivative Market is 700 Trillion Worldwide if at some point other Institutions can’t assume the Liabilities of other Failed Banks guess what …
It’s 52 Card Pick Up ..
Then the Dark Ages …
Print $, kick can, more inflation...repeat Continue debasement until CBDC is ready for rollout.
@jameslavish
If you work 40 hrs/wk: at 5% inflation and after 5 years, you need a 28% pay raise or to work 44 more hours (*one full extra week* per month+) to make up the difference.
Print $, kick can, more inflation...repeat Continue debasement until CBDC is ready for rollout.
I think that's the strategy. CBDC spells nightmarish tyranny and oppression.
I almost didn't watch the video. Glad I did. Best video update on the FedNow process I've seen. Subscribed
@jameslavish
If you work 40 hrs/wk: at 5% inflation and after 5 years, you need a 28% pay raise or to work 44 more hours (*one full extra week* per month+) to make up the difference.
Literally thousands of investments that pay off more than gold in the last 1 2 3 4 decades.
Everyone that has gold tells you how much it went up in the last xxx timeframe but none of them ever sell it so they don’t make anything. They will tell you they are waiting for the banking system to collapse and then they will be kings.
Investment squawkers are never not funny.
If PMs are a lesser , why are the central banks and China buying huge amounts?....
I remember when Obama became President and the economy was in the dumpster. Wasn’t initially his fault, but he spent the next 8 years flailing away with really stupid policies that kept the economy in the toilet. Like a guy who had never worked an honest day in his life. Spend money on BS like solar, funding dumb wars, bank bailouts, GM bailout and Fannie Mae bailout. Then he blamed everything on Bush. But 8 years later the economy still sucked. Obama tells us, “this is the new normal”. America is not great anymore.
Trump comes in and almost Immediately breathes fire into the economy. He lowers Federal regulations that squash investment, goes after China, Mexico and others for trade deals, lowers the corporate tax rate which brings companies and jobs back the the USA.
Biden gets elected - same as Obama the eco y drops to recession levels, inflation shoots up, bank bailouts, gas prices rise, but he’s blaming everything on Trump.
Also, Dems love bailing out Wall Street, but then pretend they represent people of color. It’s funny how Democrats can wreck the economy time and again and few years later they get voted back into office to wreck it all over again. American Voters are some ignorant, gullible people.
Last edited by 250_3000; 03/21/23.
“Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!” -Benjamin Franklin
I remember when Obama became President and the economy was in the dumpster. Wasn’t initially his fault, but he spent the next 8 years flailing away with really stupid policies that kept the economy in the toilet. Like a guy who had never worked an honest day in his life. Spend money on BS like solar, funding dumb wars, bank bailouts, GM bailout and Fannie Mae bailout. Then he blamed everything on Bush. But 8 years later the economy still sucked. Obama tells us, “this is the new normal”. America is not great anymore.
Trump comes in and almost Immediately breathes fire into the economy. He lowers Federal regulations that squash investment, goes after China, Mexico and others for trade deals, lowers the corporate tax rate which brings companies and jobs back the the USA.
Biden gets elected - same as Obama the eco y drops to recession levels, inflation shoots up, bank bailouts, gas prices rise, but he’s blaming everything on Trump.
Also, Dems love bailing out Wall Street, but then pretend they represent people of color. It’s funny how Democrats can wreck the economy time and again and few years later they get voted back into office to wreck it all over again. American Voters are some ignorant, gullible people.
Biden wasn't elected into the presidency. The election was stolen right in front of our faces, with little effort to hide what was being done, followed by massive gaslighting by the MSM.
I remember when Obama became President and the economy was in the dumpster. Wasn’t initially his fault, but he spent the next 8 years flailing away with really stupid policies that kept the economy in the toilet. Like a guy who had never worked an honest day in his life. Spend money on BS like solar, funding dumb wars, bank bailouts, GM bailout and Fannie Mae bailout. Then he blamed everything on Bush. But 8 years later the economy still sucked. Obama tells us, “this is the new normal”. America is not great anymore.
Trump comes in and almost Immediately breathes fire into the economy. He lowers Federal regulations that squash investment, goes after China, Mexico and others for trade deals, lowers the corporate tax rate which brings companies and jobs back the the USA.
Biden gets elected - same as Obama the eco y drops to recession levels, inflation shoots up, bank bailouts, gas prices rise, but he’s blaming everything on Trump.
Also, Dems love bailing out Wall Street, but then pretend they represent people of color. It’s funny how Democrats can wreck the economy time and again and few years later they get voted back into office to wreck it all over again. American Voters are some ignorant, gullible people.
Biden wasn't elected into the presidency. The election was stolen right in front of our faces, with little effort to hide what was being done, followed by massive gaslighting by the MSM.
You are correct...and may I add Biden was installed....by the communist.
When the "fit hits the shan", it's going to be dog eat dog. I'm not looking to amass a fortune, I just want enough to be able to have a little AU/AG lying around for barter. At my age, what little we've acquired will probably go to our kids to be wasted! LOL!
My 100 year calculation based on this morning's spot price
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway The man who makes no mistakes does not usually make anything.-- Edward John Phelps
Exactly how does one buy gold? How do you get it when you need it in hand?
Online providentmetals jmbullion apmex There are several more. Larger towns have coin shops. In my case, I have an acquaintance who deals in coins. He's a numismatist. I call him and tell him what I want. He calls me and tells me it's here. I take cash to him and leave with metal in my hand. When I order from him, he locks in the current price. If the price goes up, I'm locked in. If the market drops, he will honor the lower price.
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