Okay, I know, I know, people are forever forecasting the end of the world, but really it is not if but when, no? The US is going to devalue it's own currency placating interest groups and trying to survive "crisis". 2020 shows us how fragile the whole system really is.

Are you doing anything to prepare?

Those who study history are always prepared. The smart don't wait until a crisis is at hand.

Supplies are cheap when times appear good. Guns, food, ammo, for some reason the prices of these commodities is much higher right now.

Do you have proof of this or are you just guessing.

I keep an emergency supply of silver including lots of mercury dimes and got out of debt. I'm trying to build up a two year emergency fund and keep thinking about buying some bitcoin.

Paid off the house last year so our major expenses are insurance and taxes. Working on rebuilding the food storage, lots of our canned goods are out of date, and doubled the garden size this spring and planted several fruit trees.

Bb

Dollar is at a decade long high. Us exporters are getting killed, and Chicom imports are dirt cheap. I ain't skeered of a lower greenback.

I started preparing 24 years ago. I live way out in the country. Have a wood stove, let's see, for some reason I just stocked up with a 2 year supply of firewood. Lots of work.
Have a propane cook stove and a full propane tank. Have a spring to get water if the well fails. Have an 18 month supply of food.

I don't want it to happen I have no romantic illusions. But if it is to start, "Let The Games Begin." It will be interesting.

How in the world could I have proof. Your question makes no sense.

Yes, it is, so I agree conventional economics says we are okay, but the most important lesson this year should teach us is that it will NOT be economics that drives the collapse. No?

Welcome to the party.... all fiat currency through out history collapse.... the question is when?

No?

All wars are founded in economics.

The dollar will collapse just as soon as there’s a better alternative. There’s no alternative on the horizon. In fact alternatives are fading and the dollar is more dominant today that at any time I can think of. Every commodity is quoted in dollars. Even when the actual currency traded isn’t dollars all valuations are calculated in dollars.

The dollar is king. Everyone wants dollars!

BTW , gold is a commodity traded in dollars. It’s a commodity with limited uses so when times get really tough it will be worthless. Food , energy , weapons , etc will all be valuable as trade but gold needs a functioning market to have value.

No, we are not ok. The dollar is way too high, and needs to come down for the US to compete internationally.

Yes?

This is a good point. All value is fiat value in a sense, though. Schiff says in a total collapse gold will hold value through black market economies. So it's value is not because it can be used to make things, but because even in collapse we need some form of exchange for goods. A pure barter economy is not practical.

Your response has nothing to do with a collapse driven by outside non-economic events.

I realize that conventional economic indicators say we are not facing an immanent collapse, but as I said external non-economic events can have very precipitous effects on economics. This year shows us that it takes very small physical reality changes to trigger major economic reactions.

Betton Woods (sp). If you wondering about a dollar collapse, you have to understand it.

I'd get by, i always do.

Starts a thread, then critiques the way members reply to it.

That'd be swell.

I got stuff needs exporting.

The big central banks like gold these days.

https://resourceworld.com/central-banks-to-increase-gold-reserves/

According to the 2020 CBGR survey, 20% of central banks intend to increase their gold reserves over the next 12 months, compared to just 8% of respondents in the 2019 survey. The increase is particularly notable as central bank buying has reached record levels in recent years, adding around 650 tonnes in 2019 alone.

Somebody needs to tell the banks all around the world. They've been buying it up and stockpiling it for no good purpose for a very long time.

Sorry. I misunderstood your response.

Looks like you beat me to it.

The world trading currency will not collapse.
The USA will go to war to see to that.

Read it twice.

Of course outside events can affect economies. Volcanos, harsh extended winters, extreme droughts, etc.,etc.

You start out with the wrong info and then act like you don’t understand other posters’ comments.

Do you have a specific point to make?
Specific point.

What, precisely, do you anticipate? Inflation? The CARES act just injected $4 trillion in to the system, and inflation dropped; deflation is probably the bigger threat at this point.

I know that runaway inflation is a big fear among fellas of a certain age, but what you may have experienced in the 70’s won’t recur. The set of conditions that caused it, i.e. closed national markets, targeted full employment, and strong labor protections no longer exists, Reagan, and Thatcher destroyed that world when they enacted Friedman’s ideas, and established the neoliberal order.

The dollar is the global reserve asset, it’s fine, and will continue to be for the foreseeable future.

Yes, there has to be a market with sellers and buyers. But.... there has always been trade and value found in gold. Sure, there may be the odd circumstance where there is no value found in gold, but I don’t know of one. Maybe you could come up with some scenario, but gold has had a market and market makers for centuries.

I have traveled quite a bit and not yet found a place on earth where gold is not valued and indeed traded. I was once in a very small village in New Guinea.... small like in 1500 people or so.... way out of the way.... civilian supplies brought in by boat.... 80 percent of the population were subsistence farmers....you get the idea.... only a few businesses, but that little town had two... yep, two gold shops.

An acquaintance of mine went into one and told the proprietor he had a 22 karat necklace for sale. Took the clerk about a minute to weigh it, scratch test for true gold content and give him a price for his “18 karat” necklace.

It is my experience that folks living in countries that have national currencies that have undergone debasement are strong holders of both silver and gold. It can happen here in the US. Probably will.

It is just a matter of time before those “trillions” of stimulus work their way into the economy on Main Street. Our government is now in bailout mode.... bail out the unemployed, small business, big business, business that is crucial to the nation.... just a matter of time before we see just how they are bailing out the pension funds.

Financial misery is on it’s way. Deflation first.... maybe for a couple of years, then perhaps stagflation then “big” inflation.

I had a Vietnamese boat person work for me as a technician, Mihn, in 1985.

He went to night school and got a master's degree in electrical engineering.

We gave him a desk in the engineering area, but by then he had already made $1M from investing in his family biz.

He was wealthy and in med school when the commies took over. He left by boat, but pirates took all their Gold. He was in a refugee center. He got into the US, learned English, and got rich again in 5 years.

I would contrast this with another engineer, Marc, whose ancestors came over on the Mayflower, but he is always broke.

We need to realize that China attacked us and the rest of the world with a WMD, ie coronavirus. The proof that it was deliberate is that they protected the rest of China by closing the Wuhan borders. They chose to allow flights leaving Wuhan to the rest of the world in order to to spread the virus. We need to consider that we are at war with China and make sure that we win.

Yes, you probably would get by. Will, attitude and a little bit of prep make it come out all right.


When I was young, I was greatly influenced by my grandfather. I asked him what it was like during the Depression. He told me that it was not a crisis at all for the family. He was not an educated man but a man of action and smart. He said there were some “favorable factors.”

He had four brothers and they helped one another. He had three sons that ran their dairy farm while he had a “hard money” job at the oil refinery. Worked out ok for them.

Btw, he had nothing good to say about FDR.... called him a thief. Perhaps referring to calling gold at $20.67 an ounce and then repricing it at $32. Gramp would bite his lip when talking about it, I speculate that he was still kicking himself for turning in what little gold he may have had.

a lot of them, but religion is right up there too

But they always end up the same way, poor men dying for rich men's assets.

From my investment guys info... the dollar is screwed.... DEBT is going to kill us. Look at venzuella { don't know how to spell it, ha }. It takes a wheel narrow of money to buy a loaf of bread. The feds know all of this is coming and will soon come out with some form of block chain "FED COIN" that they have total control of because they bleed the dollar dry. You will never spend a fed coin that the fed does not approve of. They will approve or disapprove every transaction. THEY HATE CASH !! You can hide/ save cash and buy sell stuff with cash and the fed can't see it or control it. If the fed needs / wants more money they just take it. There will be no hiding any money, savings, purchases that are not controlled by the fed. China is going all crypto as has several other countries. China also has a deal that is all backed by gold. Want to sell some oil to china ? Their money is backed by gold. Can't remember what they call it, but it is cutting down the USD. IF you haven't figured it out yet... no one likes us and are trying to figure a way around HAVING to use the USD. Got some gold and silver BU and some 90% silver coins.. Hard to do a transaction with a 10 oz silver bar when all you need is a dime, huh ? My biggest insurance is bitcoin and the crypto / block chain. Feds can't touch it. China tried and then did a 180 and are going full digital soon. I think the Swiss are full digital. This IS coming whether or not you want or understand it. What scares me is what is going to happen to all my stock market investments when it all comes tumbling down. I was born poor and worked and saved all my life to get to where I am now and really do not care to give it up. Protect your self at all times. You might want to look HARD at some bitcoin... RIGHT NOW !! It is going to make a run this year......... Ray

And I wouldn't worry about having enough toilet paper.

I think Trump is showing us what inked paper is really worth. Print up some more. People will kill for it. Put a No 5 on some and a 20 on some. Put a match to each and see what each becomes.

His response was one word. I did not need to read it twice.

My OP was a question.

What "info" of mine was wrong - exactly?

Do you really think we would go to war? Really? I would agree with your assessment if this were 1990 or 2000, but the world and the US position in it is very different.

Would war even been a "fix" for such an event.

I like your post. Yes, inflation.

First, doesn't inflation only require a devaluation and a devaluation can occur via other mechanisms. Obviously this is true else in the limit all governments would simply print and never borrow.

Second, I sense an arbitrary confidence in your last statement. How long is the foreseeable future? 10 minutes? 10 days? 10 months? 10 years?

gold and silver will not be worth anything if a war starts. who the hell is going to want to carry that heavy stuff around. they want your cash,thats why they keep pushing gold and silver. ammo,ammo,ammo will be worth more when the [bleep] hits the fan.

Not only is the US government in bailout mode, but the US population expects it. Government salvation is demanded by the US population in every aspect of life. The very idea that people can survive and live without government assistance, not talking food stamps here, is part of the American "dream".

Modern America demands the government do everything and anything.

I agree financial misery is on its way. Financial misery will result in other unintended consequences. The vacuum left by US weakness will be filled badly.

What will the soccer mama’s, trust fund babies, hipsters do if it happens?

It’s more like, what of your information is correct?

Do you have a specific point to make beyond the erroneous title of your thread or do you just want to shoot the scchitt some?

How has the usd collapsed?

Old Hat,
No, inflation can be caused in lots of different ways, here’s a few:

1. Aggregate demand growing faster than aggregate supply, demand pull.

2. Higher costs leading to higher prices, cost push.

3. Increased cost of imported goods.

4. Rising wages.

The Bank of Japan did a long run study of inflation back to the 1300’s and found that the real, long term annual rate of inflation has been 1.5%. Look up the chart, it’s fascinating.

Regarding US debt, the dollar isn’t going anywhere, not for a very long time. If that sounds like arbitrary confidence, let me explain what’s behind it:

The US has never had a failed debt auction. US treasuries are where the rest of the world flees to safety. I buy all of the US debt I can afford within the constraints of my investor policy statement.

The dollar is the global reserve asset, oil is traded in dollars, and the rest of the world obtains dollars to do business. It’s as secure a currency as exists in today’s world.

Hence COVID-19. China is doing everything possible short of open warfare trying to change this.

I like peach cobbler.

I did too.....but it's been 30 years.

I like puhssy

It's all about the TP here. Wife says pile it up asap, never wants to get that close to running out again.
Big scare but we made it through.

Invest in precious metals....
Blue steel, brass and lead.

HOW MANY OF YOU DEAL, BUY, SELL TRADE IN PAPER MONEY ?? or DO YOU USE A DEBIT/CREDIT CARD? Not much paper money left in China unless you are out side of the cities. They use their smart phones to pay for everything. Your precious paper money is all going to be TP sooner than you think. The paper USD is up for extinction. Ray

Uhhh,,,no, Ray.

Man me too. Been a long time since I had any. Gotta get me some.

LOL, as China goes, so go we?

Not quite. You can't even get on a bus or train in China without the proper "travel code" on your phone. If you think these cantankerous old farts are pissy about losing their guns or money, wait till they have to get a smart phone so they can display their government approved "papers" before getting on the road out of town....

Sista Patti LaBell is marketing her various cobblers via Walmart.

So much sugar in it that it’s inedible for me. One bite.

Didn’t notice it was her stuff till I looked at the box while at the camp.
Put it in a hog trap along with the soured corn.

Crunchy sugar crystals on top of the cobbler?

Mmmm😃

That and a helluva lot more inside the cobbler.

I love sugar !!!!

Then Sista LaBells’ cobbler is for you.
Grins

Blackheart , that one mouthful that I ate, took 2 glasses of cold milk to wash down.

That’ll make you pharrt like a pack mule.

Has the dollar collapsed yet,,,by chance ?

Anyone know ?

The system is more resilient than you may think.

Some have likened it to cooter.

Stretch a mile before tearing an inch.

OLD TOOT... Do you pay for your truck gas with paper or plastic. It isn't coming... it is already here. We had guys at work that had not spent a real paper dollar in 2 years. All plastic or by phone. This is BIG money.

Starlink is progressing very fast. When the globe is blanketed in broadband the push towards full electronic payment systems will inch closer. The restrictions will start via crisis. It will be for "public safety" or "national security".

How so? Seems to me the system is more fragile than we think. Emotions change. Swings occur. Laws implemented.

We all understand that people use credit cards, Ray. It’s convenient and allows one to track and capture expenditures as well as helping come tax time. It’s a good thing.

If cash is going away, why are the Treasury printing presses still running daily ? When they stop,,,,get concerned.

Until then.........Cash ain’t trash and money in the hand talks, not plastic, nor checks.

You just defined ‘resilience ‘ of the dollar.

You referenced China earlier. How much time have you spent in China and where in China ?

That's not resilience. That's fiat.

You don't need to have spent time in China to know what China does. In fact, in a totalitarian state, by definition, more info is usually gained through external analysis.

You write all about what the Chinese people do and how they go about their financial affairs but have never been there.

Okay.

If you’re so worried about the dollar collapsing you might need to find another storehouse of value and make that happen. Should ease your usd$ malaise.

Let us know what path you take. Bitcoin, precious metals, numismatic coins, art, etc, etc.?

Yet, meanwhile, the usd$ Just rolls right on along. Albeit with credit cards, debit cards, et.alia.

Folks still readily and happily accept my cash. Why is that ?

I didn't write anything about China. In 2020 there are many expats who speak fluent Chinese and are willing to provide detailed information about what China is about.

My personal plan is a minimal homestead, no debt and membership in the eternal retirement plan.

"Not that I am speaking of being in need, for I have learned in whatever situation I am to be content. "
(Php 4:11 ESV)

Same reason as yesterday. Things don't change until they do.

Such is life and change is the one single constant in the world that we can depend upon.

When you do move to the homestead try to stay on the internet.

Excuse me but you did write about China and how its people conduct their daily financial affairs.

How soon we forget, eh ?

As far as I am concerned CHINA sucks... but they are about 3 to 5 years ahead of us on this cash free thing. The cash isn't cash if it has no value and the fed running the presses full tilt is killing what little value there is left. Even an old dieing redneck beaver trapper can see this coming........

Well, I guess the buyers will just issue you a Debit type card in place of greenback dollars for your beaver pelts. That’ll work.

Meanwhile, I’ll use those little value dollars.

FWIW, the Chinese hoard their cash bigly and exchange their RMB for USD $ at any and every opportunity that they find.

HA !! BEAVER AREN'T WORTH A DOLLAR !! REALLY. I gave mine to my fur buyer this. Good luck !!

Grins!

You take care.

Dave in Jax has it nailed.
There is no competition for King Dollar, until there is Dollars on Top.
Very strange that the Dollar had such strength while Oil tanked like it did, we think the Fed did bad (at least I do). The Eurozone is in even deeper then we are, AND the UK is on the way out. I feel this won’t end pretty, but I’m a country boy just hunting a clue.

Totally correct. If a man wanted to invest in metals and had storage space I would suggest ten 55 gallon drums of once fired brass from scrap yard and or several tons of lead from the same scrap yard. Hard Commodities will always hold their value relative to inflation because they have a practical functional use.

If this thread has shown me anything it's that people see what they want to see. We will see ...

Sharecropper, it’s been pretty well decided among the G7 nations that somewhere down the road there’ll be a worldwide monetary reset done because of all of the existing debts that are out there. This will be coordinated via the BIS (Bank of International Settlements) and the amount of debt forgiven and taken off of the books will depend upon a multitude of factors such as population , debt load of that population, resources (natural and other), etc., etc.

Most folks are unaware of the BIS and what its functions are but it’s basically the Central Bankers, Bank and rates above the World Bank. It’s more or less the Big Dog.

I’m trying to recall the source of this but thinking that I read it quoted from The Stratfor Report, as listed in John Mauldin’s Newsletter. It has been quite some time. I think another like source for it was once published in the financial newsletter, Tai-Pan, which was always an excellent read, focused much on trends and demographics, etc. as it concerned Finances.

We can’t all devalue our currencies at the same time and we can’t all claim bankruptcy at the same time AND if all of the big’uns (G7) stay on the reservation, it’ll all work out.

Or it won’t.

Not nitpicking but gold can be purchased in Singapore $, Japanese Yen, Malaysian Ringit, etc.

Some risk funds buy and sell on arbitrage basis to profit on minor differences in currency valuations versus gold’s fluctuations. It ain’t for the faint of heart.

The Global Monetary Order May Not Survive This
The global monetary order — meaning, the existing core arrangements of finance and trade, with the U.S. dollar as the centerpiece — will be 49 years old in August.

Yet this almost-49-year-old system might not make it to its 50th birthday, some 14 months from now, because the Federal Reserve is undermining the U.S. dollar, the lynchpin of that system, at hyper speed.

The current system was born on August 15, 1971. That was the day President Richard M. Nixon shut the gold window, unilaterally ending the convertibility of U.S. dollars into gold.

Ever since the demise of the Bretton Woods system, the world's major currencies have had free-floating fiat status. Modern currency values fluctuate based on supply and demand, with no intrinsic worth other than the credibility of issuing governments.

The current order has the U.S. dollar as anchor and lynchpin, via the dollar's role as world reserve currency and the dominant use of dollars for international trade transactions.

The Federal Reserve is a threat to destroy this system — not on purpose, but with the same degree of likelihood as if it were acting on purpose — by destroying faith in the soundness of the dollar, and thus crippling the global monetary order as we know it.

The Federal Reserve will do this, in partnership with the U.S. Treasury, by flooding the world with a vast quantity of dollars, eventually to the point where supply overwhelms demand. Shortly after that, supply will overwhelm a sense of faith and confidence in the system itself — and at that point all, or nearly all, could be lost.

Faith in the other major fiat currencies, like the euro, yen, and renminbi, could ultimately be torched too, as a result of frenzied currency debasement efforts in Europe, Japan, and China. Rather than a bonfire of the vanities, call it a bonfire of sovereign credibility.

A veritable biblical flood of currency will be unleashed on struggling, stagnating economies, and the medicine won't work. Investors will fear for the soundness of the system, then more or less bet against the system as they flee from it, by piling into haven assets like precious metals, gold stocks, silver stocks, and Bitcoin.

Why are we confident all of this is quite likely to happen? Because it has already started.

Source ?

try not to stack them to high.

old toot... IT IS JUST ONE OF MY INVESTER GUYS RUNNING HIS MOUTH. He doesn't know anything. I think he is worth about 3 billion about.

Is that all ?
Fuggin lightweight, he is.

Keep your eye on Dr. Michael Burry. Interesting gent.

Show me a more stable currency than the dollar and we'll all go buy it.

We've been wandering this path since Nixon Nix'd the Gold Standard. We will continue to walk this path until Oil is valued in something other than US currency.

If you don't have enough $$ right now today to buy a lifetime supply of stuff and move somewhere defensible with all of the resources you'll ever require, about the only thing the average working stiff can do is to pay down as much debt as is possible and while doing so, also acquire some tangible assets one can use themselves as well as use to barter.

Debt elimination is the BIGGEST step towards not giving a rat's behind what the rest of the world is up to.

Rat’s ass or not, we’re still tied to the rest of the world.
Grins

Minds. Ever herd of it?

If someone can show you a more stable currency then your dollars will not buy much.

Have not but will check it out.
Much appreciate it, Hat.

Therein lies the point, presently.

Subject to change.

It sure as hell won't buy much beef right now. $9.99 for gray looking sirloin in the markets is the norm out here, and the cattle producers are struggling.

US debt at 25t now. Projected to be 35t or so by 2030 and that assumes the good times keep rolling.

That does not account for the multitude of stimulus packages which will keep rolling or the now real possibility of reparations.

The modern American electorate demand enormous spending to alleviate every possible problem. No party or politician can possibly stop the spending tidal wave.

I went outside today

Sunshine is awesome

Won't debt forgiveness have serious consequences like the inability to sell more debt!

The US dollar is still the world currency.... but you can't spend yourself rich for very long... then SOMEONE wants paid.
As I said earlier.. China is making it so their money is backed on GOLD when it comes to buying oil and other staples and still hoarding gold and going digital currency at the same time. China is currently loaning money to mines in Africa knowing full well the africaners can't pay up and will default on the loan giving China the mine. They are tired of playing second fiddle to the US dollar and want to be the big kid on the block. When they do that what will happen to the USA ??

As we speak, China is cutting their banks’ reserve requirements to expedite loans if that matters.

African mines? If those loans aren’t backed by the World Bank China will walk away with nothing.

No large entity does major business within China without World Bank backing for China’s part of the deal. That’s how Exxon got their money out of their Venezuelan deal and others got theirs from Iran.

Not if all of the G 7 does it. Debt reset is pretty much just that. A restart with different, newer rules of monetary engagement .

If members start leaving the reservation there’ll be big problems. But who wants that ?

READ ABOUT THE "STABLE COIN" DOWN THE PAGE AWAYS. READ IT ALL IF YOU WANT........

This deal is a big win for autonomous vehicles…
 Something this bizarre could only happen in 2020
 The writing is on the wall… A digital dollar is coming

Dear Reader,
Economists were caught flat-footed again, surprised by the strong jobs numbers that came out this morning.
Some media outlets are trying their best to put a bad spin on the numbers, but that’s hard to do given that 4.8 million jobs were added in the U.S. in June, and the jobless rate dropped from 13.3% in May down to 11.1%.

Economists aren’t going to agree with me, but I predict July’s jobless rate will drop below 10%.
The number of new applications for jobless benefits dropped by a small amount to 1.43 million last week. Continuing jobless claims increased by an equally small amount from 19.2 million to 19.3 million compared to the week before.
The labor force participation rate also increased to 61.5% compared to 60.8% in May. For a reference point, pre-pandemic levels were at 63.4%. We’ll get back there. It’s just a matter of time.
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NVIDIA’s big autonomous driving deal…
Big news in the autonomous driving arena – NVIDIA just inked a deal with Mercedes-Benz for an in-vehicle autonomous driving solution. That’s right – NVIDIA is putting its self-driving technology in Mercedes’ vehicles. The 2024 models will be the first Mercedes with this self-driving tech installed.
That may sound like a way off, but it’s not that far out in the auto industry. Typically, car designs are wrapped up about three years in advance. And that’s where we are with this deal. These self-driving Mercedes will go into production in 2023.
Mercedes is the largest premium carmaker in the world. It produced about 2.3 million cars last year. This is a strong endorsement of NVIDIA’s autonomous driving technology by Mercedes. Mercedes is an automotive brand built on quality, performance, and luxury.
This is big news for the industry and a great win for NVIDIA. This multiyear deal with Mercedes will be worth billions for the company.
I remember NVIDIA back in early 2016 when I first recommended the company. It was just in the earliest stages of entering the automotive market, primarily with solutions that support “infotainment” systems in the cars. But those early efforts were the beginning of a much larger strategy for growing its business in the automotive sector.
The man who picked the #1 stocks for 2016 and 2018 now has uncovered a wealth-creation event unlike any other.
When announcing this deal, NVIDIA’s CEO Jensen Huang tipped his hat to Tesla for the progress it has made in the industry. And Huang revealed that NVIDIA will implement a similar model whereby software updates can be pushed out to every Mercedes vehicle regularly.
To me, that’s the only way to go. Being able to update self-driving technology at any time is crucial. So I am excited about the work NVIDIA is doing in this space.
And I must report that this is even more bad news for Intel. Starting to see a trend here?
Intel tried to partner with Mercedes on self-driving technology. And Intel spent $15.3 billion to acquire Mobileye as the centerpiece of its autonomous driving ambitions. The acquisition was completed in 2018.
Still, Intel couldn’t ink the deal with Mercedes.
It’s also interesting that Intel invested in Here Global, which is a European mapping company largely owned by Audi, Daimler (Mercedes), Porsche, and BMW. Essentially, Intel was looking to “buy” favor with Daimler and others by providing capital to their jointly owned business.
Doesn’t look like it paid off. Go NVIDIA!
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Hertz’s desperate attempt to stave off bankruptcy…
What just happened with iconic car rental company Hertz is so bizarre that it could only happen in a crazy year like 2020.
The Hertz Corporation, originally known as Rent-a-Car Inc., was founded in 1918. One hundred years later, Hertz ranked 335th in Forbes’ 2018 Fortune 500 list. Talk about a staple of American business.
Well, the run is over.
Hertz saw its business start to decline with the rise of ride-sharing companies like Uber and Lyft. And to stay afloat, Hertz started racking up debt. The company’s debt burden jumped 56% from 2011 to today, hitting $17.1 billion.
Then, with the COVID-19 travel lockdown, Hertz’s business collapsed. The company declared bankruptcy and was about to go into receivership. As a result, its stock price plummeted from $20.29 per share to just $0.55. That’s right – 55 cents. The company was trading at an enterprise value of negative $1.8 billion.
The institutional lenders were getting their ducks in a row to make sure they received their portion of Hertz’s remaining assets in the bankruptcy. But then something bizarre happened…
Suddenly, shares of Hertz (HTZ) started skyrocketing. In a matter of two weeks, the stock traded back up to $5.53 per share. It was a massive 905% gain. That begs the question – who would be foolish enough to buy stock in a bankrupt company? After all, common shareholders are the first to get wiped out in a situation like this…
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And here’s where the story gets even loonier…
After watching its share price run up 905%, Hertz came up with a new plan. It proposed to sell $500 million in new stock shares. And why not? If it could get the Robinhood army of day traders to bite, Hertz had shot at avoiding bankruptcy
Of course, the Securities and Exchange Commission quickly stepped in and shut that idea down. It was a blatant attempt to take advantage of people who had no idea what they were doing.
So Hertz is back on the trail to bankruptcy. And it appears the Robinhood traders are wising up. The stock has fallen back down to around $1.40 per share. That means anyone who bought at the recent peak has lost 74% of his or her money.
I would bet that this is the most bizarre story we will see in the world of finance for a while. It’s hard to imagine a crazier scenario unfolding again any time soon. But who knows? We still have half of this crazy year left to go…
And it is incredible to see how much of an impact people trading stocks at home from their phones can have. Historically, the markets have been dominated by big institutions and hedge funds. But in this case, the little guys trading on their smartphones outran them for a time. That’s the power of the digital age.
And while we won’t be investing in Hertz anytime soon, I really like the idea of Bleeding Edge readers getting the upper hand over Wall Street. Normal investors can absolutely beat Wall Street by investing in great companies at attractive prices and recognizing trends before they become common knowledge.
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What the newest U.S. dollar stablecoin tells us about the future of finance…
And continuing on the digital theme… We need to talk about an interesting development in the digital asset arena today.
Coinbase and Circle partnered to develop what is now the second-largest stablecoin in the industry. They call it U.S. Dollar Coin (USDC), and there’s about $1 billion parked in the stablecoin right now.
For the benefit of new readers, stablecoins are cryptocurrencies that track the value of a national fiat currency. So 1 USDC will always equal $1 – give or take a few cents.
Stablecoins have taken off this year because they are a great way for cryptocurrency traders to park money on the sidelines.
Moving from a digital asset like Bitcoin or Ethereum and back into U.S. dollars is expensive, and it takes a few days for the transaction to clear. But moving from the same digital assets into USDC is nearly free and can be done almost instantly. That’s why cryptocurrency traders love stablecoins.
But there is more to USDC than meets the eye…
To start with, Coinbase and Circle just launched USDC on a fairly new blockchain called Algorand. This is one of the most promising blockchain projects out there.
Algorand was created by famous cryptographer Silvio Micali out of MIT. Micali won a prestigious Turing Award for his work in computer science. And Micali designed Algorand to improve on the weak points of many other blockchains, including Bitcoin and Ethereum.
Right now, it takes about eight minutes for a Bitcoin transaction to settle. That means if we buy something with bitcoin in person, we have to wait eight minutes before the transaction will be complete.
What’s more, Bitcoin’s blockchain can only process about four transactions per second. The system gets bogged down when there is a spike in activity.
Algorand solves this problem. Transactions over the Algorand blockchain settle in one minute or less. And it can handle millions of users at the same time. Simply put, Algorand is far more functional than Bitcoin and many other blockchains out there.
And that brings me to the partnership between Coinbase and Circle…
We know Coinbase is a giant in the digital asset space. It has become the Fidelity or T.D. Ameritrade of cryptocurrency. Coinbase’s platform makes investing in digital assets look and feel just like investing in stocks. Plus, Coinbase has all the security and insurance features that a regular brokerage house has.
Then we look at Circle. Circle is backed by financial titan Goldman Sachs. Goldman is deeply plugged into the financial system, and it has key relationships with the Federal Reserve and the U.S. Treasury.
Not only is Goldman invested heavily in Circle, but it also orchestrated Circle’s acquisition of cryptocurrency exchange Poloniex back in 2018.
What this tells us is that the power brokers of the U.S. financial system are positioning themselves for a transition to a purely digital dollar. They are quietly building out the core infrastructure and developing relationships with key players in the digital asset industry like Coinbase to get ready for the big shift.
The writing is on the wall. A move to a purely digital financial system is inevitable. Physical cash will be a thing of the past. It’s just a matter of when.
For us as tech investors, we should get familiar with digital assets and how they work. Buying USDC on Coinbase is an easy way to get started.
One day soon, we’ll likely conduct all our financial affairs with digital assets like USDC.
Regards,
Jeff Brown
Editor, The Bleeding Edge
P.S. Blockchain technology will revolutionize our society the way the internet did more than 20 years ago. Smart investors stand to make a small fortune over the next few years.
But 99% of investors are so distracted with bitcoin and Facebook’s Libra that they are missing the bigger picture. You don’t have to be one of them.
I’ve uncovered a way to profit from the blockchain megatrend without ever downloading a digital wallet or logging onto a cryptocurrency exchange. Click here to see how.

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