At what point do you realize it is not the end of the world?
Betting on the "end on the world" is seriously flawed. You wanna know why? The end of the world only happens once and if you bet on it and win, you are dead and if you bet against it and are right, you make a fortune.
Pick your side, end of the world ... rich and dead or broke and dead
..........................No end of the world ... broke and alive or rich and alive
@derryb said:
hope for the best and prepare for the worst. Hope alone will not save you. LOL
Nothing wrong with a little prepping / insurance. There's a big difference though between preparing for the just in case and obsessing and convincing yourself that doomsday is right around the corner. Enjoy life brother, it's beyond precious. RGDS!!!
@derryb said:
hope for the best and prepare for the worst. Hope alone will not save you. LOL
Nothing wrong with a little prepping / insurance. There's a big difference though between preparing for the just in case and obsessing and convincing yourself that doomsday is right around the corner. Enjoy life brother, it's beyond precious. RGDS!!!
lol. now you know both my state of mind as well as the state of my finances. As usual, you don't know chet.
Let me just say this....it took 30 years for Socialist, nincompoop economic policies, combined with a Euro-straightjacket, to upend the economy of Greece....a 3rd-rate tourist-dependent economy.
Any of you waiting around for the demise of the Dollar or the U.S. economy are going to be sorely disappointed as it takes ALOT and a LONG TIME to upend a global financial superpower which is also the world's reserve currency (and will be for decades more, no matter what uninformed nonsense is on the Internet).
We have problems, yes (the debt limit is a recurring boil)....but they pale compared to others.
The reset will begin with the forced use of Central Bank Digital Currencies (CBDCs). When the central bank has control of the only way you can access your money look for them to use it as an opportunity to reset the value of your dollars as well as control your account access and spending. The "reset" will likely be in the form of a percentage drop in the value of all dollars when or after they are all initially transferred to central bank digital accounts. Once done it will be too late to protect their current value by transfering dollars to gold. Dollars transferred to gold before the "reset" will be protected as the reset will drive up the price of gold thus protecting worth. Once the grace period for depositing all cash on hand into the account ends, cash will become worthless, especially in private transactions.
Devaluation has always been the FEDs way of taxing you, usually via inflation. Devaluation is their way of forcing you to pay for your leadership's financial irresponsibility. It is their way of making you, not only with your tax dollars, fund the federal deficit. CBDCs will give them an instantaneous devaluation tool as well as remove your ability to protect your dollars since you will no longer be able to remove them from the system and put them in your wallet or in your safe. You will be at the mercy of a FED determined savings rates that can be pushed into negative territory simply because the FED thinks you should spend rather than save - who wants to leave their money in an account that is losing money? CDBCs will not allow you to take possession of your dollars, only spend them or leave them in the digial account.
CBDCs are an attack on individual financial freedom and an attempt to put someone else to in control of your spending and savings habits. The track record of that "someone else" should strike fear into those whose personal dollars will be under their direct control.
CBDCs will simply be a debit card account, your only banking account, where spending and savings decisions are determined by someone else. Savings rates will be used to "encourage" you to spend or to save. Holds on your spending and an will likely be used to penalize you for numerouse reasons. Your carbon footprint too big? Expect a limit on your gasoline purchases. Own too many guns? Expect a freeze on purchases from a gun shop. And you want be able to buy that gun on the secondary market - any cash that you did hang on to is now worthless.
CBDCs are an attack on individual financial freedom and an opportunity for someone else to be in control of your spending.
The Canadian truckers got a taste of this social credit score control mechanism when they protested their vaccination mandate. Their bank accounts were frozen and their trucks were confiscated by their repressive regime for making a legitimate protest.
That's just a preview of the plan. CBDC's are in no one's best interest.
Q: Are You Printing Money? Bernanke: Not Literally
@derryb - That is quite a picture you painted. How convinced are you that this is going to happen? When do you anticipate such a big move? If this is going to happen. Why would you sell your metals here or anywhere for that matter?
I ask these questions because I truly want to hear more from your viewpoint. I tend to agree that we are in for some major changes in the US. WW3, consumer debt, national debt, no manufacturing , clueless politicians, average citizen cares more about who a pop singer is dating then illegal immigration, Lobbyists, China makes all our medicines, Chinese buying up farm land here, etc…. Where the fall out leads us, I have no clue…but I don’t think it’s going to be good.
@jmski52 said: CBDCs are an attack on individual financial freedom and an opportunity for someone else to be in control of your spending.
The Canadian truckers got a taste of this social credit score control mechanism when they protested their vaccination mandate. Their bank accounts were frozen and their trucks were confiscated by their repressive regime for making a legitimate protest.
That's just a preview of the plan. CBDC's are in no one's best interest.
CBDCs aren't here now and the policies up north would never be implemented here.
Regarding your CBDC scenario, could you clarify which of the following more closely captures your view:
1) The scenario you've outlined is very likely to occur, or
2) The scenario you've outlined is conceivable, and you are trying to raise awareness so that level heads can help to assure that it does not happen.
Regarding your CBDC scenario, could you clarify which of the following more closely captures your view:
1) The scenario you've outlined is very likely to occur, or
2) The scenario you've outlined is conceivable, and you are trying to raise awareness so that level heads can help to assure that it does not happen.
the only thing in my previous post CBDC scenario that is debatable is its use to demonize our currency. Keep in the mind that the FED, since it's inception has mandated a slight annual inflation rate, that has done nothing more than slowly decrease the purchasing power of the dollar. Currently the reality is that the dollar needs a much larger devaluation to help solve the massive and growing soverign debt problem. No better opportunity to slash the dollar with one whack than the conversion of all currency into FED controlled digital accounts. When/if this occurs there will be no oppotunity to avoid personal losses - they will be accross the board. My view is that the scenario is a good opportunity for the FED to conduct what it sees as a necessary one-whack dollar debasement.
All of my other comments on CBDCs are in line with previously published commentary from professionals who see and are warning us of the potential missuesof CBDCs by those who will become the only custodian of all of your money. Please, if you can, prove them wrong on their warnings.
@GoldFinger1969 said:
These CBDC fears are not grounded in reality, I'm sorry. I certainly hope none of you are making investment decisions based on these fears.
You forget that all investment decisions are ultimately based on either hope or fear. LOL
The question is "are fears of missuse of a CBDC by the FED" something to be concerned about?. When one undertands that CBDCs provide the FED, and ultimately the federal government, full control over one's money and financial decisions, then yes, fear is warranted.
Things to fear:
-Imposed negative interest rates (a reduction in your balance each month) to stimulate the economy by encouragkng everyone to spend.
-Imposed limits on your purchasing habits. Too big a carbon footprint based on your spending? No gasoline purchases for you this month. Own "too many guns?" No more gun purchases for you. Forget about buying that AR-15 on the private market, CBDCs eliminated cash.
And don't forget, CBDCS make the dropping of helicopter money into selected accounts effortless.
Prior to CBDCs the FED's control of money has been limited to the overall economy where a FED decision affects everyone equally. CBDCs provide opportunity to have control at the micro level - your specific individual account where your financial freedsom is subject to someone else's view of your behavior or your spending habit.
114 countries, representing over 95 percent of global GDP, are exploring a CBDC
11 countries have fully launched a digital currency
Financial sanctions on Russia have led countries to consider payment systems that avoid the dollar.
In 2023, over 20 countries will take significant steps towards piloting a CBDC
As of December 2022, all G7 economies have now moved into the development stage of a CBDC
18 of the G20 countries are now in the advanced stage of CBDC development
90% of the world's central banks are building CBDC's - are you ready? Since 2008 worldwide central banks have coordinated their efforts, moving all in the same direction, whether it be QE or interest rates. Are we headed towards a single, world-wide central bank?
Questions you need to ask yourself:
-Do you understand the implication of all of your incoming and outgoing money being processed through just one digital account administered and controlled by the Federal Reserve and ultimately its puppet masters?
-Do you really believe a central bank is independent from political influence and control? Ask a Canadian trucker what he has learned.
-And most importantly, do your realize what the absence of cash does to your financial freedom?
Disclaimer: CBDCs are not a political issue. They are a financial issue that has a direct impact on one's decision to buy or hold precious metals. PMs have always been dollar protection. They are soon to also become CBDC protection.
There is another "currency" that is already being used in several countries, where inflation from excess money printing has already occurred, that could be a better alternative to CBDC's, which give governments way too much control as discussed by many above.
This article discusses an alternative to the Chinese goal of using some version of the Yuan or its e-CNY (existing CBDC) to compete with the dollar for oil purchases, etc. Just another option for discussion
I'm not sure where the U.S. and/or Fed are going with any CBDC, but the "threat" from crypto and BitCoin seems alot less today than 2 years ago.
If a large portion of the country will NOT go along with it, I'm not sure it's going to fly.
I've been doing reading lately on the FDR gold seizures/confiscation/surrender. I'm not unsympathetic to the fears of a CBDC given what happened 90 years ago, but I think the financial knowledge of the American people and the political opposition to anything like happened then is infinitely stronger.
@jmski52 said:
GoldFinger1969 Posts: 160 ✭✭✭: These CBDC fears are not grounded in reality, I'm sorry. I certainly hope none of you are making investment decisions based on these fears.
This statement totally ignores what has already taken place in Canada, what is currently taking place in China, and what the WEF is all about.
What do you think proponents want to happen here ? What do you think can happen and in what time frame ?
I'm not unsympathetic to some of the fears but I think they are more accurately described as "tail risks" rather than likely outcomes.
I'm not unsympathetic to some of the fears but I think they are more accurately described as "tail risks" rather than likely outcomes.
You might consider the book "When Money Dies" by Adam Fergusson if you would like to see how the mismanagement of a banking system in a modern economy proceeds when sovereign debt is out of control, and the result. There are an abundance of parallels to here & now.
I've been doing reading lately on the FDR gold seizures/confiscation/surrender. I'm not unsympathetic to the fears of a _CBDC given what happened 90 years ago, but I think the financial knowledge of the American people and the political _opposition to anything like happened then is infinitely stronger.
You might consider the book "The Forgotten Man" by Amity Shlaes for a well-documented account of the Great Depression and the FDR Administration's flirtations with the collectivist approach to the economy, which included a number of heavy-handed control measures. Lots can start happening when an economy is in trouble. (Like now.)
Q: Are You Printing Money? Bernanke: Not Literally
JMski, those are very good books and they do a great job of telling history -- but I don't think they foretell the future.
We live in an information age where Americans have access to information in minutes that they never got before or if they did it took days or weeks to reach them. Less than 1% of the American population read The WSJ or financial pages 100 years ago. Today, a majority of Americans read or watch financial news daily.
If you won't invest in America because of a fear of a Weimar-type inflation, or government confiscation of digitally-tracked assets, or a potential Asian military conflict, you will probably be sidelined forever as you try and game uninvestable outcomes that are extremely-low probability events.
If you won't invest in America because of a fear of a Weimar-type inflation, or government confiscation of digitally-tracked assets, or a potential Asian military conflict, you will probably be sidelined forever as you try and game uninvestable outcomes that are extremely-low probability events.
I invest 19% of my income in America every year. Can't say that the return on investment is all that great. I could provide a better return with it if I were given a choice.
If you won't invest in America because of a fear of a Weimar-type inflation, or government confiscation of digitally-tracked assets, or a potential Asian military conflict, you will probably be sidelined forever as you try and game uninvestable outcomes that are extremely-low probability events.
I invest 19% of my income in America every year. Can't say that the return on investment is all that great. I could proved a better return with it if I were given a choice.
That 19% has certainly outperformed your gutter returns. RGDS!
If you won't invest in America because of a fear of a Weimar-type inflation, or government confiscation of digitally-tracked assets, or a potential Asian military conflict, you will probably be sidelined forever as you try and game uninvestable outcomes that are extremely-low probability events.
I invest 19% of my income in America every year. Can't say that the return on investment is all that great. I could proved a better return with it if I were given a choice.
Darn entitlements!! Lol
But really, sounds like you need a better accountant or advisor.
If you won't invest in America because of a fear of a Weimar-type inflation, or government confiscation of digitally-tracked assets, or a potential Asian military conflict, you will probably be sidelined forever as you try and game uninvestable outcomes that are extremely-low probability events.
I invest 19% of my income in America every year. Can't say that the return on investment is all that great. I could proved a better return with it if I were given a choice.
Darn entitlements!! Lol
But really, sounds like you need a better accountant or advisor.
what i need is a better spender of my tax dollars.
If you won't invest in America because of a fear of a Weimar-type inflation, or government confiscation of digitally-tracked assets, or a potential Asian military conflict, you will probably be sidelined forever as you try and game uninvestable outcomes that are extremely-low probability events.
I invest 19% of my income in America every year. Can't say that the return on investment is all that great. I could proved a better return with it if I were given a choice.
Darn entitlements!! Lol
But really, sounds like you need a better accountant or advisor.
there ya go again. assuming my silver returns are as poor as yours. Like i keep telling you, the secret is to sell at a higher price than you paid. Like many, you appear to freak when price drop and decide to sell, and guess what - I'm probably on the other side of your trade. Cutting your losses is no way for you to see a profit and a good way for your buyers to make a profit.
@PerryHall said:
How much of our national debt is held by China and how much are we paying them in interest?
Just a fraction of what is held by Americans. More interest paid to Americans means more spending on services like dining out, pet groomers, lawncare and other discretionary interests.
@PerryHall said:
How much of our national debt is held by China and how much are we paying them in interest?
Just a fraction of what is held by Americans. More interest paid to Americans means more spending on services like dining out, pet groomers, lawncare and other discretionary interests.
The 1st-degree effects of debt outweight the 2nd-degree benefits of interest received.
@PerryHall said:
How much of our national debt is held by China and how much are we paying them in interest?
Just a fraction of what is held by Americans. More interest paid to Americans means more spending on services like dining out, pet groomers, lawncare and other discretionary interests.
The 1st-degree effects of debt outweight the 2nd-degree benefits of interest received.
Perhaps to some. Definitely not to all. Opportunities abound.
@cohodk said:
Perhaps to some. Definitely not to all. Opportunities abound.
My point is that of course a few people benefit from higher rates, but the NEGATIVE effects of debt outweigh it by a huge amount.
Short-sellers benefit from a falling stock market but nobody says that a stock market crash would be good for the economy because < 1% who are short benefit.
@cohodk said:
Perhaps to some. Definitely not to all. Opportunities abound.
My point is that of course a few people benefit from higher rates, but the NEGATIVE effects of debt outweigh it by a huge amount.
The long-term effect of rate normalization will greatly outweigh the effect of some overleveraged folk losing their shirts. Your debt doesn't effect me, except in the case of providing me opportunities when you default or liquidate.
it's the cumulative affect of debt that takes down economies. As we have seen, one bad bank can take down others. So yes, those with perfect credit are threatened by those with perfect foreclosures.
@derryb said:
it's the cumulative affect of debt that takes down economies. As we have seen, one bad bank can take down others. So yes, those with perfect credit are threatened by those with perfect foreclosures.
Can you define what you mean by "takes down economies"?
Comments
The "Great Reset" & The Future Of Money
Give Me Liberty or Give Me Debt
I hope Bulgaria hedge is nobody's financial advisor. That's some pretty wacked out propaganda I just click-baited into there.
PS: gold is money. RGDS!
The whole worlds off its rocker, buy Gold™.
If both are wrong then only one is right.
Knowledge is the enemy of fear
Alot longer than than two years
I give away money. I collect money.
I don’t love money . I do love the Lord God.
At what point do you think the frog realizes he is being boiled alive?
Give Me Liberty or Give Me Debt
At what point do you realize it is not the end of the world?
Betting on the "end on the world" is seriously flawed. You wanna know why? The end of the world only happens once and if you bet on it and win, you are dead and if you bet against it and are right, you make a fortune.
Pick your side, end of the world ... rich and dead or broke and dead
..........................No end of the world ... broke and alive or rich and alive
big difference between "end of the world" and "end of the world as we know it." LOL
Give Me Liberty or Give Me Debt
go ahead a root for chaos as it seems to be your dream. Guns ready to raid the neighbors and take their food.
You and I both would still be waiting well past our lifetimes. Sunlight and fresh air brother. Try it, at this point I'm begging you. THKS!
The whole worlds off its rocker, buy Gold™.
hope for the best and prepare for the worst. Hope alone will not save you. LOL
Give Me Liberty or Give Me Debt
Nothing wrong with a little prepping / insurance. There's a big difference though between preparing for the just in case and obsessing and convincing yourself that doomsday is right around the corner. Enjoy life brother, it's beyond precious. RGDS!!!
The whole worlds off its rocker, buy Gold™.
lol. now you know both my state of mind as well as the state of my finances. As usual, you don't know chet.
Give Me Liberty or Give Me Debt
Let me just say this....it took 30 years for Socialist, nincompoop economic policies, combined with a Euro-straightjacket, to upend the economy of Greece....a 3rd-rate tourist-dependent economy.
Any of you waiting around for the demise of the Dollar or the U.S. economy are going to be sorely disappointed as it takes ALOT and a LONG TIME to upend a global financial superpower which is also the world's reserve currency (and will be for decades more, no matter what uninformed nonsense is on the Internet).
We have problems, yes (the debt limit is a recurring boil)....but they pale compared to others.
The reset will begin with the forced use of Central Bank Digital Currencies (CBDCs). When the central bank has control of the only way you can access your money look for them to use it as an opportunity to reset the value of your dollars as well as control your account access and spending. The "reset" will likely be in the form of a percentage drop in the value of all dollars when or after they are all initially transferred to central bank digital accounts. Once done it will be too late to protect their current value by transfering dollars to gold. Dollars transferred to gold before the "reset" will be protected as the reset will drive up the price of gold thus protecting worth. Once the grace period for depositing all cash on hand into the account ends, cash will become worthless, especially in private transactions.
Devaluation has always been the FEDs way of taxing you, usually via inflation. Devaluation is their way of forcing you to pay for your leadership's financial irresponsibility. It is their way of making you, not only with your tax dollars, fund the federal deficit. CBDCs will give them an instantaneous devaluation tool as well as remove your ability to protect your dollars since you will no longer be able to remove them from the system and put them in your wallet or in your safe. You will be at the mercy of a FED determined savings rates that can be pushed into negative territory simply because the FED thinks you should spend rather than save - who wants to leave their money in an account that is losing money? CDBCs will not allow you to take possession of your dollars, only spend them or leave them in the digial account.
CBDCs are an attack on individual financial freedom and an attempt to put someone else to in control of your spending and savings habits. The track record of that "someone else" should strike fear into those whose personal dollars will be under their direct control.
CBDCs will simply be a debit card account, your only banking account, where spending and savings decisions are determined by someone else. Savings rates will be used to "encourage" you to spend or to save. Holds on your spending and an will likely be used to penalize you for numerouse reasons. Your carbon footprint too big? Expect a limit on your gasoline purchases. Own too many guns? Expect a freeze on purchases from a gun shop. And you want be able to buy that gun on the secondary market - any cash that you did hang on to is now worthless.
Give Me Liberty or Give Me Debt
CBDCs are an attack on individual financial freedom and an opportunity for someone else to be in control of your spending.
The Canadian truckers got a taste of this social credit score control mechanism when they protested their vaccination mandate. Their bank accounts were frozen and their trucks were confiscated by their repressive regime for making a legitimate protest.
That's just a preview of the plan. CBDC's are in no one's best interest.
I knew it would happen.
@derryb - That is quite a picture you painted. How convinced are you that this is going to happen? When do you anticipate such a big move? If this is going to happen. Why would you sell your metals here or anywhere for that matter?
I ask these questions because I truly want to hear more from your viewpoint. I tend to agree that we are in for some major changes in the US. WW3, consumer debt, national debt, no manufacturing , clueless politicians, average citizen cares more about who a pop singer is dating then illegal immigration, Lobbyists, China makes all our medicines, Chinese buying up farm land here, etc…. Where the fall out leads us, I have no clue…but I don’t think it’s going to be good.
Are CBDCs like CBD oils?
Knowledge is the enemy of fear
CBDCs aren't here now and the policies up north would never be implemented here.
Betting on The Apocalypse has never been a good investment strategy for financial assets like stocks or bonds...or even PMs.
@derryb,
Regarding your CBDC scenario, could you clarify which of the following more closely captures your view:
1) The scenario you've outlined is very likely to occur, or
2) The scenario you've outlined is conceivable, and you are trying to raise awareness so that level heads can help to assure that it does not happen.
more like big guns in little hands.
Give Me Liberty or Give Me Debt
the only thing in my previous post CBDC scenario that is debatable is its use to demonize our currency. Keep in the mind that the FED, since it's inception has mandated a slight annual inflation rate, that has done nothing more than slowly decrease the purchasing power of the dollar. Currently the reality is that the dollar needs a much larger devaluation to help solve the massive and growing soverign debt problem. No better opportunity to slash the dollar with one whack than the conversion of all currency into FED controlled digital accounts. When/if this occurs there will be no oppotunity to avoid personal losses - they will be accross the board. My view is that the scenario is a good opportunity for the FED to conduct what it sees as a necessary one-whack dollar debasement.
All of my other comments on CBDCs are in line with previously published commentary from professionals who see and are warning us of the potential missuesof CBDCs by those who will become the only custodian of all of your money. Please, if you can, prove them wrong on their warnings.
Give Me Liberty or Give Me Debt
These CBDC fears are not grounded in reality, I'm sorry. I certainly hope none of you are making investment decisions based on these fears.
GoldFinger1969 Posts: 160 ✭✭✭:
These CBDC fears are not grounded in reality, I'm sorry. I certainly hope none of you are making investment decisions based on these fears.
This statement totally ignores what has already taken place in Canada, what is currently taking place in China, and what the WEF is all about.
I knew it would happen.
You forget that all investment decisions are ultimately based on either hope or fear. LOL
The question is "are fears of missuse of a CBDC by the FED" something to be concerned about?. When one undertands that CBDCs provide the FED, and ultimately the federal government, full control over one's money and financial decisions, then yes, fear is warranted.
Things to fear:
-Imposed negative interest rates (a reduction in your balance each month) to stimulate the economy by encouragkng everyone to spend.
-Imposed limits on your purchasing habits. Too big a carbon footprint based on your spending? No gasoline purchases for you this month. Own "too many guns?" No more gun purchases for you. Forget about buying that AR-15 on the private market, CBDCs eliminated cash.
And don't forget, CBDCS make the dropping of helicopter money into selected accounts effortless.
Prior to CBDCs the FED's control of money has been limited to the overall economy where a FED decision affects everyone equally. CBDCs provide opportunity to have control at the micro level - your specific individual account where your financial freedsom is subject to someone else's view of your behavior or your spending habit.
in Sept 22, White House confirmed "the U.S. has been closely examining the implications of, and options for, issuing a CBDC."
Cato Institute: The truth is CBDCs are government’s attempt to protect its privileged position and exert more control over people’s money.
Atlantic Council:
90% of the world's central banks are building CBDC's - are you ready? Since 2008 worldwide central banks have coordinated their efforts, moving all in the same direction, whether it be QE or interest rates. Are we headed towards a single, world-wide central bank?
Questions you need to ask yourself:
-Do you understand the implication of all of your incoming and outgoing money being processed through just one digital account administered and controlled by the Federal Reserve and ultimately its puppet masters?
-Do you really believe a central bank is independent from political influence and control? Ask a Canadian trucker what he has learned.
-And most importantly, do your realize what the absence of cash does to your financial freedom?
Disclaimer: CBDCs are not a political issue. They are a financial issue that has a direct impact on one's decision to buy or hold precious metals. PMs have always been dollar protection. They are soon to also become CBDC protection.
Give Me Liberty or Give Me Debt
There is another "currency" that is already being used in several countries, where inflation from excess money printing has already occurred, that could be a better alternative to CBDC's, which give governments way too much control as discussed by many above.
This article discusses an alternative to the Chinese goal of using some version of the Yuan or its e-CNY (existing CBDC) to compete with the dollar for oil purchases, etc. Just another option for discussion
https://fortune.com/crypto/2023/02/26/stablecoins-statecraft-uncle-sam-satoshi-digital-currency/
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
Entrusting one's $$$ with the Chinese Communist Party is slightly more appealing then having it managed by Putin.
I'm not sure where the U.S. and/or Fed are going with any CBDC, but the "threat" from crypto and BitCoin seems alot less today than 2 years ago.
If a large portion of the country will NOT go along with it, I'm not sure it's going to fly.
I've been doing reading lately on the FDR gold seizures/confiscation/surrender. I'm not unsympathetic to the fears of a CBDC given what happened 90 years ago, but I think the financial knowledge of the American people and the political opposition to anything like happened then is infinitely stronger.
What do you think proponents want to happen here ? What do you think can happen and in what time frame ?
I'm not unsympathetic to some of the fears but I think they are more accurately described as "tail risks" rather than likely outcomes.
I'm not unsympathetic to some of the fears but I think they are more accurately described as "tail risks" rather than likely outcomes.
You might consider the book "When Money Dies" by Adam Fergusson if you would like to see how the mismanagement of a banking system in a modern economy proceeds when sovereign debt is out of control, and the result. There are an abundance of parallels to here & now.
I've been doing reading lately on the FDR gold seizures/confiscation/surrender. I'm not unsympathetic to the fears of a _CBDC given what happened 90 years ago, but I think the financial knowledge of the American people and the political _opposition to anything like happened then is infinitely stronger.
You might consider the book "The Forgotten Man" by Amity Shlaes for a well-documented account of the Great Depression and the FDR Administration's flirtations with the collectivist approach to the economy, which included a number of heavy-handed control measures. Lots can start happening when an economy is in trouble. (Like now.)
I knew it would happen.
JMski, those are very good books and they do a great job of telling history -- but I don't think they foretell the future.
We live in an information age where Americans have access to information in minutes that they never got before or if they did it took days or weeks to reach them. Less than 1% of the American population read The WSJ or financial pages 100 years ago. Today, a majority of Americans read or watch financial news daily.
If you won't invest in America because of a fear of a Weimar-type inflation, or government confiscation of digitally-tracked assets, or a potential Asian military conflict, you will probably be sidelined forever as you try and game uninvestable outcomes that are extremely-low probability events.
Or Canada.
I invest 19% of my income in America every year. Can't say that the return on investment is all that great. I could provide a better return with it if I were given a choice.
Give Me Liberty or Give Me Debt
That 19% has certainly outperformed your gutter returns. RGDS!
The whole worlds off its rocker, buy Gold™.
.> @derryb said:
Darn entitlements!! Lol
But really, sounds like you need a better accountant or advisor.
Knowledge is the enemy of fear
what i need is a better spender of my tax dollars.
Give Me Liberty or Give Me Debt
there ya go again. assuming my silver returns are as poor as yours. Like i keep telling you, the secret is to sell at a higher price than you paid. Like many, you appear to freak when price drop and decide to sell, and guess what - I'm probably on the other side of your trade. Cutting your losses is no way for you to see a profit and a good way for your buyers to make a profit.
Give Me Liberty or Give Me Debt
I didn't say anything about your silver returns.
Regarding tax spending....we've spent $10 Trillion more than we've taken in over the last 7 years. How would you get that back?
If you were the spender of our tax dollars, how would you spend them. Here is the US budget, how would you change it? This question is open to anyone.
Knowledge is the enemy of fear
Cut recently passed discretionary spending programs and raise taxes?
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
How much of our national debt is held by China and how much are we paying them in interest?
Worry is the interest you pay on a debt you may not owe.
About $1 trillion, give-or-take. The TIC data come out monthly:
https://ticdata.treasury.gov/Publish/mfh.txt
Just a fraction of what is held by Americans. More interest paid to Americans means more spending on services like dining out, pet groomers, lawncare and other discretionary interests.
Knowledge is the enemy of fear
Interest rates keep re-setting.....we hit 4% on the 10-year Treasury, the 2-year hit 4.92%, and the 1-year hit 5.10%.
Stocks continue into The Death Zone as a Wall Street Strategist said last week, using the Mt. Everest analogy.
The 1st-degree effects of debt outweight the 2nd-degree benefits of interest received.
Perhaps to some. Definitely not to all. Opportunities abound.
Knowledge is the enemy of fear
Didn't opportunity peak during the Great Depression?
Give Me Liberty or Give Me Debt
My point is that of course a few people benefit from higher rates, but the NEGATIVE effects of debt outweigh it by a huge amount.
Short-sellers benefit from a falling stock market but nobody says that a stock market crash would be good for the economy because < 1% who are short benefit.
The long-term effect of rate normalization will greatly outweigh the effect of some overleveraged folk losing their shirts. Your debt doesn't effect me, except in the case of providing me opportunities when you default or liquidate.
Knowledge is the enemy of fear
it's the cumulative affect of debt that takes down economies. As we have seen, one bad bank can take down others. So yes, those with perfect credit are threatened by those with perfect foreclosures.
Give Me Liberty or Give Me Debt
Can you define what you mean by "takes down economies"?
Knowledge is the enemy of fear