1/4 of all the US Dollars printed in the history of the USA were printed in 2020.
metalmeister
Posts: 4,267 ✭✭✭✭✭
Unfortunately the Feds and States used the honor system to dole out the Billions and Billions in stimulus. Created a huge mess and once again the honest taxpayer is asked to come to the rescue while the States and Feds are trying to track down the fraud and abuse. CONgress is ready to release another round of stimulus $900 Billion +. The new CONgress will take over in 2021 with bigger plans. Stay tuned.
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FED "redefines" money supply calculations.
"I would argue that the Fed’s latest obscuration of the money supply numbers is an indicator that the Fed’s printing press will go “Weimar” over the next 12-24 months. This will translate directly in soaring gold and silver prices."
As it went with reporting inflation so goes it with reporting money supply. If you don't like the results, just change the formula.
If I keep shrinking the value of the dollar, it makes it look like your stock portfolio is growing. But if you then take your stock portfolio and measure it in gold. . . - Peter Schiff
Yawn, another $7.3T+ in the hole in just the last 4 years. My latest round of stimulus already hit the bank account today, thanks for the free $$$!!!
I wonder what the history books will write about our government and how they handled the economy and the nation over the past 20 years.
Come on now it’s just a keystroke what harm can be done?!
Guess who will be writing history books at that time?
If I keep shrinking the value of the dollar, it makes it look like your stock portfolio is growing. But if you then take your stock portfolio and measure it in gold. . . - Peter Schiff
Russians? Bulgarians? JPM? They? Them?
$600 ? That would be a ok amount if you were living in a dumpster eating your meals at Mcd's. For the long term desperate Americans that's an insult. They need that $2000. Each month!
100% Positive BST transactions
Good point, $600 ain’t much.
Hell, you could save that in a few months, on an ongoing basis, ceasing your smoking, drinking, lottery ticket buying, fines, late fees, cannabis use and other vices!
But do, please, keep buying coins, though.
Especially with all this free gooberment welfare. It's a no brainer.
gutter money, the longer you hold it the less it's worth.
If I keep shrinking the value of the dollar, it makes it look like your stock portfolio is growing. But if you then take your stock portfolio and measure it in gold. . . - Peter Schiff
Heck yea! Of all the things mentioned above, enjoying a bourbon now and then is the only crime I’m guilty of. So I don’t feel bad buying a nice coin for myself once in a while.
I am not seeking any coins right now, and have a good supply of ammunition. So, I will simply bide my time until something comes along that simply must become part of the family....
Cheers, RickO
What are these history books you speak of?
My Adolph A. Weinman signature
Yep $600 posting to banks today. Gold and silver skyrocketing in futures.
We got our check this weekend, 500 total for the 2 of us. I feel totally stimulated, ha.
Yep $600 posting to banks today.
Glad you got something. My wife and I qualify for zippo.
@2ndCharter:
“Qualify for zippo” because of the phaseout due to income level? I’m sure many people making $15/hr and getting the $600 max would rather be getting zero with a much higher weekly paycheck.
I don't think the income level adjustments were the same for this one as the first one. Percentage-wise we got way less this time. Last go round we got ~70%, this time it was ~46%. I didn't check though on the income adjustments as I figured they would have been the same.
add: everything I saw/found looks like the adjustments should have been the same, so who knows.
The stimulus phase out math is still the same. 5% reduction for every $ above threshold for single, married, hoh, etc. For single, 5% of $12,000 is $600, so complete phase out (no check) occurs at $75K + $12K = $87K. Previous stimulus was $1200, so at 5% reduction, complete phaseout of $1200 occurs at $75K + $24K = $99K. For example, your income was $80K. With $600 stimulus you get a reduction of $5K x 0.05 = $250 and receive a $350 check. But in earlier $1200 stimulus you had the exact same $250 reduction while receiving $950.
“Qualify for zippo” because of the phaseout due to income level? I’m sure many people making $15/hr and getting the $600 max would rather be getting zero with a much higher weekly paycheck.
Don't go all SJW on me. My wife and I paid our dues for the past 40-plus years to get where we are today.
I had to look up SJW...
That was not my intention at all. Just stating a fact. I know many people who are looking forward to the extra $300 a week as they will be making more on UC than when they were actually working. Not saying it is right or wrong, it just ‘is’.
Other than the lottery tickets this sounds like my 2 person New Year's Eve party.
There are lots of people out there with money problems which have turned into food problems. If you can, please consider donating to your local food bank or any organization that is trying to feed those less fortunate.
Perhaps we can make it to $28T by inauguration day?
Sovereign debt no longer matters. A strong military discourages all foreign debt collectors. The FED has no plans to collect on the debt it holds, it is leverage.
If I keep shrinking the value of the dollar, it makes it look like your stock portfolio is growing. But if you then take your stock portfolio and measure it in gold. . . - Peter Schiff