"One of the ECB Board members says that negative rates (really confiscation) will be applied as a “penalty” against “hoarding” cash. In plain English, that means they will create digital money, force you to spend it, and if you don’t spend it, they will take it away as a “negative rate.”"
That is quiet frankly ...some scary chit.
Strive not to be a success, but rather to be of value.
Although this could be viewed by some as no different from inflation or wealth taxes, both of which have been around for a long time, I agree it is scary to see it discussed as a matter of mainstream public policy.
The idea of money that explicitly depreciates has been discussed for a long time, usually by people on the political/social fringe. Do a search, for example, on "free money" or "Silvio Gesell".
Mainstream regulators in Europe have recently been discussing how negative rates could be applied even to banknotes. For example, banknotes might have an expiration date, and you'd need to periodically trade, for example, 100 euro for 98 euro! Of course, it is much easier if money is electronic.
This could stimulate the further growth of private monies, but, they can be subject to transaction taxes. (Hence, pushing things to the black market).
(Swiss Francs have had expiration dates for a long time, although they are exchanged 1 to 1, with considerable advance notice given before expiration. However, if any of you has a wad of Swiss Francs from a prior trip, be careful! I have a few hundred colorful but otherwise worthless Swiss Francs)
"Once all money is digital, you won’t have the option of withdrawing your cash and avoiding negative rates. You will be trapped in a digital pen with no way out."
He is raising very serious issues. In the larger fully developed economies, such as the US, the rest of the "Anglo world", Western Europe, Japan, and South Korea, the privacy aspect will be vigorously discussed and debated. As I'm sure many on this board already know, there is a strong precedent for privacy protection in Europe with GDPR. The Japanese are very concerned with privacy and engaged in intense discussions recently in connection with introducing their own version of "social security number". The US may actually be behind in these discussions, and indeed, a bit naive. However, our protections in the health data domain are quite strong with HIPAA.
I suspect that when the Fed/Treasury/Congress promote a digital dollar, it will be accompanied by privacy protections -- more than exist now with credit card data. However, the debate will be intense, and some constituencies (e.g., IRS) are likely to push for intrusive monitoring.
I don't expect that there will be a rush to gold, but it's unlikely that people will be giving up on gold and other tangible assets in the foreseeable future!
I suspect that when the Fed/Treasury/Congress promote a digital dollar, it will be accompanied by privacy protections -- more than exist now with credit card data. However, the debate will be intense, and some constituencies (e.g., IRS) are likely to push for intrusive monitoring.
You forget that the government ALWAYS exempts itself from privacy protection. If nothing else Snowden showed us this.
@derryb said: "You forget that the government ALWAYS exempts itself from privacy protection. If nothing else Snowden showed us this."
Can you clarify this? I think the Federal government is substantially bound by HIPAA. I'm not sure what Snowden shows, other than extremely sloppiness on the part of those involved in maintaining security.
@Higashiyama said: @derryb said: "You forget that the government ALWAYS exempts itself from privacy protection. If nothing else Snowden showed us this."
@Higashiyama said: @derryb said: "You forget that the government ALWAYS exempts itself from privacy protection. If nothing else Snowden showed us this."
Can you clarify this?
Full spectrum dominance also includes the information space. The end goal is to monitor and control literally everything you do in the name of profit/freedom/security.
I, for one, am happy to see gold and silver be part of the revolution. Like old times.
@Higashiyama said: @derryb said: "You forget that the government ALWAYS exempts itself from privacy protection. If nothing else Snowden showed us this."
Can you clarify this?
Full spectrum dominance also includes the information space. The end goal is to monitor and control literally everything you do in the name of profit/freedom/security.
@Azurescens: Is this "end goal" emerging organically, or can you point concretely to forces behind it? @derryb pointed to the CIA and the NSA. Like the rest of us, they make mistakes from time to time, but I don't see them as setting or executing policy. You need to be more specific in describing how they operate.
Is this "end goal" emerging organically, or can you point concretely to forces behind it? @derryb pointed to the CIA and the NSA. Like the rest of us, they make mistakes from time to time, but I don't see them as setting or executing policy. You need to be more specific in describing how they operate.
I refer you to the actual statement made by Maxine Waters regarding how the info accumulated by NSA can be used to squash political opponents, how the IRS was weaponized to subdue the Tea Party, and how the CIA has overstepped its mandate as an intelligence agency in foreign affairs and is now involved in tracking "domestic terrorists".
And of course, there is the obvious corruption in the upper echelons of the FBI when they not only surveilled the leading presidential candidate but then went 10 steps further in falsifying FISA Court docs in order to create a false narrative about Russian influence in order to derail a candidacy and presidency.
The end goal is anything but organic.
Q: Are You Printing Money? Bernanke: Not Literally
The Fed just stopped tracking the M2 " money" supply the end of March 2021. M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. They don't want to scare people about the enormous quantity of currency they are issuing so that people don't panic about the possibility of inflation and lose confidence in the FR.
@thefinn said:
The Fed just stopped tracking the M2 " money" supply the end of March 2021. M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. They don't want to scare people about the enormous quantity of currency they are issuing so that people don't panic about the possibility of inflation and lose confidence in the FR.
"Weekly average, non-seasonally adjusted data will continue to be made available, while weekly average, seasonally adjusted data will no longer be provided"
Your opinion and assumption is based upon misinterpretation.
@thefinn said:
The Fed just stopped tracking the M2 " money" supply the end of March 2021. M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. They don't want to scare people about the enormous quantity of currency they are issuing so that people don't panic about the possibility of inflation and lose confidence in the FR.
"Weekly average, non-seasonally adjusted data will continue to be made available, while weekly average, seasonally adjusted data will no longer be provided"
Your opinion and assumption is based upon misinterpretation.
Does it say "Discontinued"? What's to misinterpret? They stopped measuring M3 under Bernake. Just a matter of time. Most people don't even know that the Federal Reserve Bank is not a government entity.
@thefinn said:
The Fed just stopped tracking the M2 " money" supply the end of March 2021. M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. They don't want to scare people about the enormous quantity of currency they are issuing so that people don't panic about the possibility of inflation and lose confidence in the FR.
"Weekly average, non-seasonally adjusted data will continue to be made available, while weekly average, seasonally adjusted data will no longer be provided"
Your opinion and assumption is based upon misinterpretation.
Does it say "Discontinued"? What's to misinterpret? They stopped measuring M3 under Bernake. Just a matter of time. Most people don't even know that the Federal Reserve Bank is not a government entity.
They did NOT stop measuring M2. Read the notes.
M2SL is the same as M2. The money supply is still being tabulated and accounted. Only difference is the weekly data is not seasonally adjusted. This seasonal adjustment is what many doom and gloom conspiracists had issues with as they felt it downplayed the data. So the FED removes the seasonality and the same doom and gloom conspiracists still complain. SMH.
@thefinn said:
The Fed just stopped tracking the M2 " money" supply the end of March 2021. M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. They don't want to scare people about the enormous quantity of currency they are issuing so that people don't panic about the possibility of inflation and lose confidence in the FR.
"Weekly average, non-seasonally adjusted data will continue to be made available, while weekly average, seasonally adjusted data will no longer be provided"
Your opinion and assumption is based upon misinterpretation.
Does it say "Discontinued"? What's to misinterpret? They stopped measuring M3 under Bernake. Just a matter of time. Most people don't even know that the Federal Reserve Bank is not a government entity.
They did NOT stop measuring M2. Read the notes.
M2SL is the same as M2. The money supply is still being tabulated and accounted. Only difference is the weekly data is not seasonally adjusted. This seasonal adjustment is what many doom and gloom conspiracists had issues with as they felt it downplayed the data. So the FED removes the seasonality and the same doom and gloom conspiracists still complain. SMH.
Just goes to show they like to manipulate the numbers. Let them put the cost of food, fuel, rent/housing into the calculation of inflation like they did when Kennedy was around.
@thefinn said:
The Fed just stopped tracking the M2 " money" supply the end of March 2021. M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. They don't want to scare people about the enormous quantity of currency they are issuing so that people don't panic about the possibility of inflation and lose confidence in the FR.
"Weekly average, non-seasonally adjusted data will continue to be made available, while weekly average, seasonally adjusted data will no longer be provided"
Your opinion and assumption is based upon misinterpretation.
Does it say "Discontinued"? What's to misinterpret? They stopped measuring M3 under Bernake. Just a matter of time. Most people don't even know that the Federal Reserve Bank is not a government entity.
They did NOT stop measuring M2. Read the notes.
M2SL is the same as M2. The money supply is still being tabulated and accounted. Only difference is the weekly data is not seasonally adjusted. This seasonal adjustment is what many doom and gloom conspiracists had issues with as they felt it downplayed the data. So the FED removes the seasonality and the same doom and gloom conspiracists still complain. SMH.
Let them put the cost of food, fuel, rent/housing into the calculation of inflation like they did when Kennedy was around.
@thefinn said:
The Fed just stopped tracking the M2 " money" supply the end of March 2021. M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. They don't want to scare people about the enormous quantity of currency they are issuing so that people don't panic about the possibility of inflation and lose confidence in the FR.
"Weekly average, non-seasonally adjusted data will continue to be made available, while weekly average, seasonally adjusted data will no longer be provided"
Your opinion and assumption is based upon misinterpretation.
Does it say "Discontinued"? What's to misinterpret? They stopped measuring M3 under Bernake. Just a matter of time. Most people don't even know that the Federal Reserve Bank is not a government entity.
They did NOT stop measuring M2. Read the notes.
M2SL is the same as M2. The money supply is still being tabulated and accounted. Only difference is the weekly data is not seasonally adjusted. This seasonal adjustment is what many doom and gloom conspiracists had issues with as they felt it downplayed the data. So the FED removes the seasonality and the same doom and gloom conspiracists still complain. SMH.
Let them put the cost of food, fuel, rent/housing into the calculation of inflation like they did when Kennedy was around.
So that's why they replaced steak with ground beef - people couldn't afford steak any more, so since most had to buy ground beef they figured it was chosen as a conscious "choice".
@thefinn said:
The Fed just stopped tracking the M2 " money" supply the end of March 2021. M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. They don't want to scare people about the enormous quantity of currency they are issuing so that people don't panic about the possibility of inflation and lose confidence in the FR.
"Weekly average, non-seasonally adjusted data will continue to be made available, while weekly average, seasonally adjusted data will no longer be provided"
Your opinion and assumption is based upon misinterpretation.
Does it say "Discontinued"? What's to misinterpret? They stopped measuring M3 under Bernake. Just a matter of time. Most people don't even know that the Federal Reserve Bank is not a government entity.
They did NOT stop measuring M2. Read the notes.
M2SL is the same as M2. The money supply is still being tabulated and accounted. Only difference is the weekly data is not seasonally adjusted. This seasonal adjustment is what many doom and gloom conspiracists had issues with as they felt it downplayed the data. So the FED removes the seasonality and the same doom and gloom conspiracists still complain. SMH.
Let them put the cost of food, fuel, rent/housing into the calculation of inflation like they did when Kennedy was around.
So that's why they replaced steak with ground beef - people couldn't afford steak any more, so since most had to buy ground beef they figured it was chosen as a conscious "choice".
From the linked website..
_Specifically, in constructing the "headline" CPI-U and CPI-W, the BLS is not assuming that consumers substitute hamburgers for steak. Substitution is only assumed to occur within basic CPI index categories, such as among types of ground beef in Chicago. Hamburger and steak are in different CPI item categories, so no substitution between them is built into the CPI-U or CPI-W_
I still think my original post ( page 1) is the future. The US government will move the decimal point 2 places on the US currency. Your $100 bill is now the new $1.
France did that with the franc in 1960. The old one franc coins continued to circulate for a long time, but with a value of one centime.
Under similar circumstances just after WW2, Japan chose not to revalue the yen, so today we have roughly 100 yen to the dollar (though a very stable currency)
@Higashiyama said:
France did that with the franc in 1960. The old one franc coins continued to circulate for a long time, but with a value of one centime.
Under similar circumstances just after WW2, Japan chose not to revalue the yen, so today we have roughly 100 yen to the dollar (though a very stable currency)
Did the quality of life decline in those countries? Were those with a few bucks wiped out?
@Higashiyama said:
France did that with the franc in 1960. The old one franc coins continued to circulate for a long time, but with a value of one centime.
Under similar circumstances just after WW2, Japan chose not to revalue the yen, so today we have roughly 100 yen to the dollar (though a very stable currency)
Did the quality of life decline in those countries? Were those with a few bucks wiped out?
Savings always get decimated when a currency gains zeros. They don't get the extra zeros memo. So yes, any quality of life that was dependent on what one had saved declined by two decimal places. That money save for a new car could now buy a new bicycle.
Cars and bicycles? Butter and beans will always be butter and beans. Normal times , the only thing jacking me up at the moment is $42 sheets of 1/2 plywood. I still have a lot of construction to do up in here! Maybe it's time to log my mature forest but I'd prefer it to remain as nature made it. What would I do with the extra $$$ anyway? Buy more gutter to hoard in my bunker? Semper!
@Higashiyama said:
France did that with the franc in 1960. The old one franc coins continued to circulate for a long time, but with a value of one centime.
Under similar circumstances just after WW2, Japan chose not to revalue the yen, so today we have roughly 100 yen to the dollar (though a very stable currency)
Did the quality of life decline in those countries? Were those with a few bucks wiped out?
Savings always get decimated when a currency gains zeros. They don't get the extra zeros memo. So yes, any quality of life that was dependent on what one had saved declined by two decimal places. That money save for a new car could now buy a new bicycle.
You didnt answer the questions. Did the quality of life decline for the French and Japanese citizens? Did millionaires become thousandaires? Did they lose everything they had? Citing examples in your response would be helpful.
Its not so simple to answer, "well yeah, i had $100 but now its only $1". In your example, are you sure the bicycle didnt didnt have 2 zeros lobbed off its price?
@DarkRage666 asked: "What is a so-called economical reset?"
@jmski52 ended his original post with the question: "So, do you think there will be an economic/monetary reset?"
I assumed he meant events/political actions such as the following: (a) globally, a fundamental redesign of banking/monetary institutions that would significantly reduce the role of the dollar, and (b) domestically, a possible rescaling of the dollar (eg, the 100 to 1 exchange described above), together with a redesign of the Fed and the US banking system.
Jmski might say we can only find the truth if we ask questions. What are you afraid of?
We can only find the truth if we ask questions, like "why is cohodk afraid to expose himself to evidence of election interference by CCP and others, especially since an inept administration is now edging closer to war in 3 different theaters all at the same time, while leaving our borders wide open?"
Those kinds of questions?
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said: Jmski might say we can only find the truth if we ask questions. What are you afraid of?
We can only find the truth if we ask questions, like "why is cohodk afraid to expose himself to evidence of election interference by CCP and others, especially since an inept administration is now edging closer to war in 3 different theaters all at the same time, while leaving our borders wide open?"
Those kinds of questions?
That was 4 1/2 - 5 years ago. Come on brother, forward not backwards. PEACE!
That was 4 1/2 - 5 years ago. Come on brother, forward not backwards. PEACE!
Oh, you mean - when Comey, Stroeck, Page, Brennan, Clapper, the Clinton campaign - decided to work with foreign intelligence in an attempt to derail the election of a populist US President, using bogus FISA court documents and a media smear campaign to ruin careers and lives? You mean that one?
Q: Are You Printing Money? Bernanke: Not Literally
Yep, the financial markets are collapsing. There's a share recall for Gamestop coming this Tuesday, so if anyone wants to like 10x their money, it'd be a great time to do so. I've been pretty much right about everything this past year. So I recommend it. At $150/share what's the worst you could lose, 10k? I've gambled more than that in a night.
It's looking like the dollar is done for. The curtain hasn't been completely pulled back on crypto; people still buy it in Robinhood, which of course, halted DOGE trading during this recent spike.
Awhile back I had said it was likely that RH never had any bitcoin, or $GME, and it probably wasn't just them but other hedge funds and financial institutions committing widespread fraud on a massive scale. I'd always thought that this must lead it's way up to the top of the government and I guess it does.
None of it is real. The rich have no silver, no bitcoin, no DOGE, all the gold is fake, the whole thing is a sham.
This person does a deep dive into how this is widespread systemic fraud.
My "conspiracy theory" on a reset is not that it will help us. The reset will be used to let the rich get away with everything. Now I begin to wonder if they knew how bad this was a year ago, and covid ran the risk of popping it off.. then it almost became a reality, they freaked out, and now they're just kicking the can down the road until it's all gone to hell.
They'll say it's for us, but our kids and grandkids will ultimately pay for it, and everything will be worse.
The curtain hasn't been completely pulled back on crypto; people still buy it in Robinhood, which of course, halted DOGE trading during this recent spike.
I was heavily invested in DOGE during the recent price runup and constantly monitored it in my R/H account for the 23 hours I had it in play. I saw on halting to any crypto trading. One learns to not sleep while money sits in DOGE.
@Azurescens said:
Yep, the financial markets are collapsing. There's a share recall for Gamestop coming this Tuesday, so if anyone wants to like 10x their money, it'd be a great time to do so. I've been pretty much right about everything this past year. So I recommend it. At $150/share what's the worst you could lose, 10k? I've gambled more than that in a night.
It's looking like the dollar is done for. The curtain hasn't been completely pulled back on crypto; people still buy it in Robinhood, which of course, halted DOGE trading during this recent spike.
Awhile back I had said it was likely that RH never had any bitcoin, or $GME, and it probably wasn't just them but other hedge funds and financial institutions committing widespread fraud on a massive scale. I'd always thought that this must lead it's way up to the top of the government and I guess it does.
None of it is real. The rich have no silver, no bitcoin, no DOGE, all the gold is fake, the whole thing is a sham.
This person does a deep dive into how this is widespread systemic fraud.
My "conspiracy theory" on a reset is not that it will help us. The reset will be used to let the rich get away with everything. Now I begin to wonder if they knew how bad this was a year ago, and covid ran the risk of popping it off.. then it almost became a reality, they freaked out, and now they're just kicking the can down the road until it's all gone to hell.
They'll say it's for us, but our kids and grandkids will ultimately pay for it, and everything will be worse.
I was heavily invested in DOGE during the recent price runup and constantly monitored it in my R/H account for the 23 hours I had it in play. I saw on halting to any crypto trading. One learns to not sleep while money sits in DOGE.
Comments
"One of the ECB Board members says that negative rates (really confiscation) will be applied as a “penalty” against “hoarding” cash. In plain English, that means they will create digital money, force you to spend it, and if you don’t spend it, they will take it away as a “negative rate.”"
That is quiet frankly ...some scary chit.
Strive not to be a success, but rather to be of value.
Although this could be viewed by some as no different from inflation or wealth taxes, both of which have been around for a long time, I agree it is scary to see it discussed as a matter of mainstream public policy.
The idea of money that explicitly depreciates has been discussed for a long time, usually by people on the political/social fringe. Do a search, for example, on "free money" or "Silvio Gesell".
Mainstream regulators in Europe have recently been discussing how negative rates could be applied even to banknotes. For example, banknotes might have an expiration date, and you'd need to periodically trade, for example, 100 euro for 98 euro! Of course, it is much easier if money is electronic.
This could stimulate the further growth of private monies, but, they can be subject to transaction taxes. (Hence, pushing things to the black market).
(Swiss Francs have had expiration dates for a long time, although they are exchanged 1 to 1, with considerable advance notice given before expiration. However, if any of you has a wad of Swiss Francs from a prior trip, be careful! I have a few hundred colorful but otherwise worthless Swiss Francs)
War on Cash: The Next Phase
"Once all money is digital, you won’t have the option of withdrawing your cash and avoiding negative rates. You will be trapped in a digital pen with no way out."
Give Me Liberty or Give Me Debt
Regarding "War on Cash"
He is raising very serious issues. In the larger fully developed economies, such as the US, the rest of the "Anglo world", Western Europe, Japan, and South Korea, the privacy aspect will be vigorously discussed and debated. As I'm sure many on this board already know, there is a strong precedent for privacy protection in Europe with GDPR. The Japanese are very concerned with privacy and engaged in intense discussions recently in connection with introducing their own version of "social security number". The US may actually be behind in these discussions, and indeed, a bit naive. However, our protections in the health data domain are quite strong with HIPAA.
I suspect that when the Fed/Treasury/Congress promote a digital dollar, it will be accompanied by privacy protections -- more than exist now with credit card data. However, the debate will be intense, and some constituencies (e.g., IRS) are likely to push for intrusive monitoring.
I don't expect that there will be a rush to gold, but it's unlikely that people will be giving up on gold and other tangible assets in the foreseeable future!
You forget that the government ALWAYS exempts itself from privacy protection. If nothing else Snowden showed us this.
Give Me Liberty or Give Me Debt
@derryb said: "You forget that the government ALWAYS exempts itself from privacy protection. If nothing else Snowden showed us this."
Can you clarify this? I think the Federal government is substantially bound by HIPAA. I'm not sure what Snowden shows, other than extremely sloppiness on the part of those involved in maintaining security.
Sure. CIA. NSA.
Give Me Liberty or Give Me Debt
Full spectrum dominance also includes the information space. The end goal is to monitor and control literally everything you do in the name of profit/freedom/security.
I, for one, am happy to see gold and silver be part of the revolution. Like old times.
..
Q
Knowledge is the enemy of fear
@Azurescens: Is this "end goal" emerging organically, or can you point concretely to forces behind it? @derryb pointed to the CIA and the NSA. Like the rest of us, they make mistakes from time to time, but I don't see them as setting or executing policy. You need to be more specific in describing how they operate.
Is this "end goal" emerging organically, or can you point concretely to forces behind it? @derryb pointed to the CIA and the NSA. Like the rest of us, they make mistakes from time to time, but I don't see them as setting or executing policy. You need to be more specific in describing how they operate.
I refer you to the actual statement made by Maxine Waters regarding how the info accumulated by NSA can be used to squash political opponents, how the IRS was weaponized to subdue the Tea Party, and how the CIA has overstepped its mandate as an intelligence agency in foreign affairs and is now involved in tracking "domestic terrorists".
And of course, there is the obvious corruption in the upper echelons of the FBI when they not only surveilled the leading presidential candidate but then went 10 steps further in falsifying FISA Court docs in order to create a false narrative about Russian influence in order to derail a candidacy and presidency.
The end goal is anything but organic.
I knew it would happen.
During the Panic of 1893, JP Morgan Used $60 Million in Bonds to Bail Out the United States Government.
That's equal to 1.594 billion in today's money.
The rich help the government, and the government helps the rich.
There will never be a reset to that historical fact.
The Fed just stopped tracking the M2 " money" supply the end of March 2021. M2 is closely watched as an indicator of money supply and future inflation, and as a target of central bank monetary policy. They don't want to scare people about the enormous quantity of currency they are issuing so that people don't panic about the possibility of inflation and lose confidence in the FR.
https://fred.stlouisfed.org/series/M2
They didnt stop tracking M2. They just stopped tracking the weekly average seasonally adjusted figures which many had issues with anyway.
The new chart looks just like the old chart. https://fred.stlouisfed.org/series/M2SL
"Weekly average, non-seasonally adjusted data will continue to be made available, while weekly average, seasonally adjusted data will no longer be provided"
Your opinion and assumption is based upon misinterpretation.
Knowledge is the enemy of fear
Does it say "Discontinued"? What's to misinterpret? They stopped measuring M3 under Bernake. Just a matter of time. Most people don't even know that the Federal Reserve Bank is not a government entity.
They did NOT stop measuring M2. Read the notes.
M2SL is the same as M2. The money supply is still being tabulated and accounted. Only difference is the weekly data is not seasonally adjusted. This seasonal adjustment is what many doom and gloom conspiracists had issues with as they felt it downplayed the data. So the FED removes the seasonality and the same doom and gloom conspiracists still complain. SMH.
Knowledge is the enemy of fear
FED's gotta love this idea!
China's Digital Yuan Comes With An Expiration Date
Forces users to spend it quickly, for times when the economy needs a jump start.
Give Me Liberty or Give Me Debt
Just goes to show they like to manipulate the numbers. Let them put the cost of food, fuel, rent/housing into the calculation of inflation like they did when Kennedy was around.
I saw it on Bulguarian news so it must be real
The whole worlds off its rocker, buy Gold™.
Some like being told what to believe.
Stick with CNBC.
Give Me Liberty or Give Me Debt
The Wall Street Journal and others reported the same news.
They do.
https://www.bls.gov/cpi/questions-and-answers.htm
Knowledge is the enemy of fear
So that's why they replaced steak with ground beef - people couldn't afford steak any more, so since most had to buy ground beef they figured it was chosen as a conscious "choice".
From the linked website..
_Specifically, in constructing the "headline" CPI-U and CPI-W, the BLS is not assuming that consumers substitute hamburgers for steak. Substitution is only assumed to occur within basic CPI index categories, such as among types of ground beef in Chicago. Hamburger and steak are in different CPI item categories, so no substitution between them is built into the CPI-U or CPI-W_
Knowledge is the enemy of fear
Loves me some shiny!
I still think my original post ( page 1) is the future. The US government will move the decimal point 2 places on the US currency. Your $100 bill is now the new $1.
100% Positive BST transactions
France did that with the franc in 1960. The old one franc coins continued to circulate for a long time, but with a value of one centime.
Under similar circumstances just after WW2, Japan chose not to revalue the yen, so today we have roughly 100 yen to the dollar (though a very stable currency)
Did the quality of life decline in those countries? Were those with a few bucks wiped out?
Knowledge is the enemy of fear
Your $100 bill is now the new $1.
I've always thought that the small dollars (Sacs & Prezbucks) very much resemble Large Cents.
I knew it would happen.
Savings always get decimated when a currency gains zeros. They don't get the extra zeros memo. So yes, any quality of life that was dependent on what one had saved declined by two decimal places. That money save for a new car could now buy a new bicycle.
Give Me Liberty or Give Me Debt
Cars and bicycles? Butter and beans will always be butter and beans. Normal times , the only thing jacking me up at the moment is $42 sheets of 1/2 plywood. I still have a lot of construction to do up in here! Maybe it's time to log my mature forest but I'd prefer it to remain as nature made it. What would I do with the extra $$$ anyway? Buy more gutter to hoard in my bunker? Semper!
The whole worlds off its rocker, buy Gold™.
even tin foil preppers can't hide from inflation. lol
Give Me Liberty or Give Me Debt
You didnt answer the questions. Did the quality of life decline for the French and Japanese citizens? Did millionaires become thousandaires? Did they lose everything they had? Citing examples in your response would be helpful.
Its not so simple to answer, "well yeah, i had $100 but now its only $1". In your example, are you sure the bicycle didnt didnt have 2 zeros lobbed off its price?
Knowledge is the enemy of fear
Because you only ask questions. For a guy with a lot of questions you never seem to have any answers. lol
you definitely fit the profile.
Give Me Liberty or Give Me Debt
Lol. I believe your opinion is in the minority.
Do you not think it wise to ask questions for the benefit of others who may not ask, or do not know what to ask?
Jmski might say we can only find the truth if we ask questions. What are you afraid of?
Knowledge is the enemy of fear
trolls.
Give Me Liberty or Give Me Debt
Then get your comfort pillow.
Or jusr answer.....if they lop 2 zeros off your bank account, do they also lop 2 zeros off the price of goods?
Knowledge is the enemy of fear
@DarkRage666 asked: "What is a so-called economical reset?"
@jmski52 ended his original post with the question: "So, do you think there will be an economic/monetary reset?"
I assumed he meant events/political actions such as the following: (a) globally, a fundamental redesign of banking/monetary institutions that would significantly reduce the role of the dollar, and (b) domestically, a possible rescaling of the dollar (eg, the 100 to 1 exchange described above), together with a redesign of the Fed and the US banking system.
Jmski might say we can only find the truth if we ask questions. What are you afraid of?
We can only find the truth if we ask questions, like "why is cohodk afraid to expose himself to evidence of election interference by CCP and others, especially since an inept administration is now edging closer to war in 3 different theaters all at the same time, while leaving our borders wide open?"
Those kinds of questions?
I knew it would happen.
That was 4 1/2 - 5 years ago. Come on brother, forward not backwards. PEACE!
The whole worlds off its rocker, buy Gold™.
That was 4 1/2 - 5 years ago. Come on brother, forward not backwards. PEACE!
Oh, you mean - when Comey, Stroeck, Page, Brennan, Clapper, the Clinton campaign - decided to work with foreign intelligence in an attempt to derail the election of a populist US President, using bogus FISA court documents and a media smear campaign to ruin careers and lives? You mean that one?
I knew it would happen.
Reset?
In progress, what it looks like.
And, the World Economic Forum is it biggest cheerleader.
And just like that, another aluminum foil hat conspiracy theory becomes a reality.
Give Me Liberty or Give Me Debt
Yep, the financial markets are collapsing. There's a share recall for Gamestop coming this Tuesday, so if anyone wants to like 10x their money, it'd be a great time to do so. I've been pretty much right about everything this past year. So I recommend it. At $150/share what's the worst you could lose, 10k? I've gambled more than that in a night.
It's looking like the dollar is done for. The curtain hasn't been completely pulled back on crypto; people still buy it in Robinhood, which of course, halted DOGE trading during this recent spike.
Awhile back I had said it was likely that RH never had any bitcoin, or $GME, and it probably wasn't just them but other hedge funds and financial institutions committing widespread fraud on a massive scale. I'd always thought that this must lead it's way up to the top of the government and I guess it does.
None of it is real. The rich have no silver, no bitcoin, no DOGE, all the gold is fake, the whole thing is a sham.
This person does a deep dive into how this is widespread systemic fraud.
My "conspiracy theory" on a reset is not that it will help us. The reset will be used to let the rich get away with everything. Now I begin to wonder if they knew how bad this was a year ago, and covid ran the risk of popping it off.. then it almost became a reality, they freaked out, and now they're just kicking the can down the road until it's all gone to hell.
They'll say it's for us, but our kids and grandkids will ultimately pay for it, and everything will be worse.
Reddit - GME - The EVERYTHING Short
https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/
Markets are collapsing? LOL they are at all time highs and going higher.
The whole worlds off its rocker, buy Gold™.
But, but.. some folks live in a tent?
Doesn't than mean that the world is ending for everyone except Them bankers?
Liberty: Parent of Science & Industry
I was heavily invested in DOGE during the recent price runup and constantly monitored it in my R/H account for the 23 hours I had it in play. I saw on halting to any crypto trading. One learns to not sleep while money sits in DOGE.
Give Me Liberty or Give Me Debt
Ive heard we should be careful about people who are always negative.
Knowledge is the enemy of fear
you day traded doge and that's it?