@GoldFinger1969 said: More journalistic ignorance. BRICs wasn't a country creation, it was a MONIKER created by Goldman Sachs PM Jim O'Neill in the early-2000's to describe commodity-dependent countries.
How can anybody trust the analysis on a complex financial system from this source when they can't even get the creation and date right concerning BRICs ?? The article is a joke and the analysis even worse. It's garbge in, garbage out.
There was nothing materially wrong with the BBC reporting.
...
The term BRIC was originally developed in the context of foreign investment strategies. It was introduced in the 2001 publication, Building Better Global Economic BRICs by then-chairman of Goldman Sachs Asset Management, Jim O'Neill.[17][18]
The foreign ministers of the initial four BRIC General states (Brazil, Russia, India, and China) met in New York City in September 2006 at the margins of the General Debate of the UN Assembly, beginning a series of high-level meetings.[19] A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 June 2009.[20]
Weaponize. Everything is weaponized. The Govt, the dollar, the media...all weaponized., right. Such a strong word, it instills fear among the weak hearted and weak minded.
Go look up the term woke in your dictionary while you are at it. Your types are as woke as they come. THKS!
Weaponize. Everything is weaponized. The Govt, the dollar, the media...all weaponized., right. Such a strong word, it instills fear among the weak hearted and weak minded.
Yup ....war....another strong word bantered about by those who wish to control and manipulate you. So scary.
@derryb said:
One thing that you and blitzboy need to learn is that criticism does not equal hate. I never woulda thunk "woke" or an attempt to censor would find its way to this forum, but apparently you guys are embedded everywhere.
So you dont criticize Russia and China who devalue their currency and weaponize their economies to a much greater extent than the US because you hate them? And you wonder why some question your motives.
I don't care what happens to the Russian/Chinese economies and currencies. My motives? To highlight threats to our economy and our currency in hopes to educate unicorns such as yourself.
This whole Brics story is just fear-mongering right wing politics designed to promote contempt and loathing. "They" know we are weak and can be easily controlled and manipulated. Seems "they" are succeeding with some of us.
We are weak!!
.
Why all the doom and gloom and why are you rooting for the demise of America ?
"The Indian rupee fell to its lowest level on record against the U.S. dollar on Friday, weighed down by broad weakness in its Asian peers and aggressive local dollar demand, traders said."
But but but ......that can't be true cuz my fear mongering websites say otherwise. You're not gonna obfuscate me!! Lol
"More than 65 countries peg their currencies to the U.S. dollar while five U.S. territories and eleven foreign nations use it as their official currency of exchange"
"More than 65 countries peg their currencies to the U.S. dollar while five U.S. territories and eleven foreign nations use it as their official currency of exchange"
that's a lot of dominoes!
Are they really this stupid, or are they destroying the dollar on purpose?
"More than 65 countries peg their currencies to the U.S. dollar while five U.S. territories and eleven foreign nations use it as their official currency of exchange"
that's a lot of dominoes!
Derryb said...."LOL, government supplied data. "Liars figure and figures lie."
Then he posts govt supplied data. You can't make this stuff up.
Although your chart does appear to be proportional. Not quite understanding your comment.
"More than 65 countries peg their currencies to the U.S. dollar while five U.S. territories and eleven foreign nations use it as their official currency of exchange"
that's a lot of dominoes!
Derryb said...."LOL, government supplied data. "Liars figure and figures lie."
Then he posts govt supplied data. You can't make this stuff up.
we deal with what we are given.
Although your chart does appear to be proportional. Not quite understanding your comment.
As money gets printed it goes to the hands of those who need it the least.
Are they really this stupid, or are they destroying the dollar on purpose?
"More than 65 countries peg their currencies to the U.S. dollar while five U.S. territories and eleven foreign nations use it as their official currency of exchange"
that's a lot of dominoes!
Derryb said...."LOL, government supplied data. "Liars figure and figures lie."
Then he posts govt supplied data. You can't make this stuff up.
we deal with what we are given.
Although your chart does appear to be proportional. Not quite understanding your comment.
As money gets printed it goes to the hands of those who need it the least.
Sorry bro, I can't give up cash to just any Bulgarian agent/stranger but if you need a small plot of land to bunker down let me know. I can possibly hook you up. Seasonally things are about to be boomin up here in gods country....I invite you to come up and enjoy what makes this blessed county so great.. I'm nowhere near the top but your printed money certainly seems to trickle my way. God bless America and God bless the Commonwealth. RGDS!
@cohodk said:
Are the countries you listed destroying their currencies? You'd better answer yes. Egypt just did a devaluation >for crying out loud. And India and China are frequently flexing military muscle against each other. The ignorance surrounding this group is unfathomable.
all currencies are being slowly destroyed by their printers. The world's reserve currency US dollar gained an added >advancement toward destruction when its issuer decided to weaponize it and steal them from their largest adversary. Evidence shows that other countries are ditching the dollar after witnessing how easily they can be stolen. Would you want your central bank to be holding dollars if and when you fell into the crosshairs?
The ignorance surrounding the diehards in this group is unfathomable.
The dollar is UP since we froze Russia's assets. ** That's what a higher number means. We didn't "steal" them. It is going to go to the Russian people, not Putin and his murdering thugs.
The plan is to give stolen russian money to its enemy.
Sorry, but according to even lowball government CPI data the dollar is down 20% since 2020.. That's a one-fifth haircut in purchasing power in only four years. Goes to show you that the dollar index is a joke to those that use dollars.
Are they really this stupid, or are they destroying the dollar on purpose?
All this talk of runaway debt is a half-told tale that evokes kneejerk demands to rein in spending. However money is debt. Rein in spending and your curtail money production without which debt servicing becomes impossible. The problem is not profligate spending. It's the structural and arithmetically unsustainable paradox of debt-money
It's unsustainable, and everyone knows it, unless you have your head in a dark place.
Q: Are You Printing Money? Bernanke: Not Literally
@cohodk said:
How much purchasing power has silver lost over last 3 1/2 years? And especially how much if one fell into the "premium" trap?
Is it just coincidence that your chosen data point is 3.5 years. LOL. Notice you chose to avoid "five years" when silver was less than half of its current spot price.
Silver is not an investment, it is dollar insurance to preserve dollar purchasing power over the long term and it has served this purpose well. Those buying silver as an investment should call it gutter metal.
Even minimum wage has lost its purchasing power. In 1960, the federal minimum wage was $1 per hour. After accounting for inflation, this would be worth around $10.28 today (it's at $7.25)
Are they really this stupid, or are they destroying the dollar on purpose?
@cohodk said:
How much purchasing power has silver lost over last 3 1/2 years? And especially how much if one fell into the "premium" trap?
Is it just coincidence that your chosen data point is 3.5 years. LOL. Notice you chose to avoid "five years" when silver was less than half of its current spot price.
Nope..not a coincidence. You started with 'the dollar being down 20% since 2020 and, well--n case your bad with calendars--3.5 years ago puts one solidily in 2020. I'm just playing the game by YOUR rules.
So the better question might be, is it just coincidence that you choose 2020 as a date?
@cohodk said:
How much purchasing power has silver lost over last 3 1/2 years? And especially how much if one fell into the "premium" trap?
Is it just coincidence that your chosen data point is 3.5 years. LOL. Notice you chose to avoid "five years" when silver was less than half of its current spot price.
Nope..not a coincidence. You started with 'the dollar being down 20% since 2020 and, well--n case your bad with calendars--3.5 years ago puts one solidily in 2020. I'm just playing the game by YOUR rules.
So the better question might be, is it just coincidence that you choose 2020 as a date?
The author of the piece chose 2020 and likely to show what has happened since last election. I let the experts choose their data points.
Are they really this stupid, or are they destroying the dollar on purpose?
Of course more in bonds than physical. More is equities than bonds. And more in real estate than equities. And let's not forget about --to be said in a soft voice--derivatives.
@cohodk said:
How much purchasing power has silver lost over last 3 1/2 years? And especially how much if one fell into the "premium" trap?
Is it just coincidence that your chosen data point is 3.5 years. LOL.
LOL you should use 2011 as your datapoint. 1/2 of what it was 13 years ago, or maybe 1980, again 1/2 of what it was 44 years ago. Talk about lost decades in the gutter. RGDS!
I suppose we can take anything out of context to fit our belief or agenda. > @cohodk said:
How much purchasing power has silver lost over last 3 1/2 years? And especially how much if one fell into the "premium" trap?
🦗🦗🦗
Actually , not one cent has been lost in the purchasing power of silver. Trading in metals is merely an exercise in hedging. i do have customers selling back what i sold them some years ago. At a higher price, no doubt. And the premiums are made up over time, or we wouldn’t be trading.
@TwoSides2aCoin said:
I suppose we can take anything out of context to fit our belief or agenda. > @cohodk said:
How much purchasing power has silver lost over last 3 1/2 years? And especially how much if one fell into the "premium" trap?
🦗🦗🦗
Actually , not one cent has been lost in the purchasing power of silver. Trading in metals is merely an exercise in hedging. i do have customers selling back what i sold them some years ago. At a higher price, no doubt. And the premiums are made up over time, or we wouldn’t be trading.
Does an ASE buy as much hamburger today as it did in 2020?
How many oz of silver does it take to buy the average house today vs 2020.
Point is, to address derryb, that yes there was/is inflation and that silver did not protect one's buying power. Perhaps it will be different in the future, but since "the election" silver has not offered protection. Gold has, but not silver. The stock market has done better, and so has residential real estate
@TwoSides2aCoin said:
I suppose we can take anything out of context to fit our belief or agenda. > @cohodk said:
How much purchasing power has silver lost over last 3 1/2 years? And especially how much if one fell into the "premium" trap?
🦗🦗🦗
Actually , not one cent has been lost in the purchasing power of silver. Trading in metals is merely an exercise in hedging. i do have customers selling back what i sold them some years ago. At a higher price, no doubt. And the premiums are made up over time, or we wouldn’t be trading.
Does an ASE buy as much hamburger today as it did in 2020?
How many oz of silver does it take to buy the average house today vs 2020.
Point is, to address derryb, that yes there was/is inflation and that silver did not protect one's buying power. Perhaps it will be different in the future, but since "the election" silver has not offered protection. Gold has, but not silver. The stock market has done better, and so has residential real estate
In 2020 silver dropped to $13. I was selling ASEs for $20.20. Today, spot price is about $25. The premiums dropped and silver eagles are closer to $30. I'm sure hamburger is up. So is silver. I did not realize we were comparing to gold, real estate, or Bitcoin.
As always, after it is said and done, a lot more will be said than done.
This will always be a hot topic.
Going back to the basics, the Bretton Woods Agreement was agreed to by 44 countries to use the USD as the coin of the world as long as the USD was backed by gold. It was literally tossed into the trash by Nixon when the USD was detached from gold.
Any country can do as they wish in currency exchange and have been doing so for decades. They will deal with each other and use whatever form of currency they want, more so now the world is going AI.
Eventually the US will not be in the top five economies, our grandkids will have to get use to it. The steady improvements in the standard of living of 6 billion people will dwarf our economy.
In regards to gold, technically it has broken out from a 8 year cup with handle and appears to be headed to 3000. Just an observation...... not advice.
Gold will keep up with inflation. For recorded history, one troy ounce of gold has always been able to purchase a milk cow with calf.
Further, AI will drive productivity higher for at least the next decade, the stock markets will follow the productivity just as computers increased productivity and drove the markets from 1985 to now.
Not that anyone reading this will listen, but your time is better spent on investopedia.com
If you are too lazy to learn to invest, just buy an SP500 index etf and ride the ups and downs. That is pretty much Buffet's advice. I personally like QQQ. That is just me, again not advice.
Historically, silver is the poor man's gold. Currently it is either very undervalued or gold is extremely overvalued. The historic ratio should be 40 to 1, not 100 to 1.
I am betting silver will eventually close the gap. Again, not advice....
I did not check this for accuracy or spelling. This should not be considered financial advice as I gave up my license when I retired at age 51. Just saying.... BRICS does not matter enough to discuss. As the Colonial coin motto said, "Mind your Business".
We are all heros in our own mind and losers at the same time. I know I will never get this half-hour back. LOL
Historically, silver is the poor man's gold. Currently it is either very undervalued or gold is extremely overvalued. The historic ratio should be 40 to 1, not 100 to 1.
history of numbers won't change but the future is not written in stone
silve was bought up in a craze that had some sites shutting down their sales over the weekend. i'm willing to ignore kitco spt and go with 1oz rounds spot. during that time did the gsr hit 40? maybe close, but is it still there? a fever was born then and has since cooled. if that can't keep up the premiums, what will?
AI is inherently deflationary and is a threat to the debt-based system that is, in the words of the Federal Reserve chairman, "unsustainable". The banks are in trouble because the system requires inflation, so expect massive money creation in attempt to keep the system (and stocks & bonds) afloat.
Inflation and taxes are a political football, so expect gov.com to always lie about the real numbers. They make significant corrections in the employment and inflation numbers all the time, but people usually don't consider the monthly revisions since they become "past history" every month as new headlines are splashed across the media.
The reason that the BRICs are not insignificant is because the dollar has been completely mismanaged, on purpose, to the benefit of the entities who get first dibs on the proceeds from new money creation. The whole world is seeing this in-your-face manipulation and is reacting in ways to get away from debt-based currencies, re: Basel 3.
Historically, silver is the poor man's gold. Currently it is either very undervalued or gold is extremely overvalued. The historic ratio should be 40 to 1, not 100 to 1.
The GSR isn't an indication of whether either gold or silver is overvalued, except in relative terms to each other. They are both undervalued in terms of paper dollars.
Physical gold & silver aren't stocks or bonds and can't be analyzed in the same way. There is no counterparty risk involved in holding physical gold & silver like there is with any paper instruments - loan documents, contracts, trading accounts, revolving credit accounts, ETFs, and dollars in general. The dollar (and all fiat currencies) are a confidence game - always have been, and the problem is what happens when confidence is lost.
We may be seeing this now, on a global scale. Act accordingly.
Q: Are You Printing Money? Bernanke: Not Literally
There are limited alternatives to China’s currency for use as reserves because the financial instruments of nations that are friendly to Russia carry too many risks, the central bank wrote in its annual report released Friday
If you wanna put your money into the T-bond market, by all means - go for it. China doesn't have a decent bond market, so what? The very fact that a large contingent of countries want to get away from the dollar is significant enough that even you should realize what that means in terms of inflation expectations here at home.
Of course, your buddies at the Fed will accommodate, and everything will be roses and champagne. Right?
Q: Are You Printing Money? Bernanke: Not Literally
The Brics cannot succeed until China and Russia move away from being authoritarian dictatorships.
I actually hope they succeed as being a reserve currency carries a very unique and heavy burden.
Let those countries move away from the dollar. Yippee.
I'm well aware of global intermarket and monetary relationships, but perhaps you could expound on your thoughts on what you mean by an impact on "inflation expectations here at home."
Also, what is your infatuation with Treasury Bonds?
“@cohodk said:
The Brics cannot succeed until China and Russia move away from being authoritarian dictatorships.
You mean like true democracy in the western world? LOL”
Are you suggesting that the USA, Russia, and China are similar in terms of individual opportunity, freedom, and self-determination?
I'm suggest they are all moving toward a common goal. Look at the interference of US government in what you say and what you do in the last decade. Meanwhile Russia in particular has enabled more freedom for its people in the last decade. Eventually we will likely all be under the same controls at the rate we are going.
Are they really this stupid, or are they destroying the dollar on purpose?
“@cohodk said:
The Brics cannot succeed until China and Russia move away from being authoritarian dictatorships.
You mean like true democracy in the western world? LOL”
Are you suggesting that the USA, Russia, and China are similar in terms of individual opportunity, freedom, and self-determination?
I'm suggest they are all moving toward a common goal. Look at the interference of US government in what you say and what you do in the last decade. Meanwhile Russia in particular has enabled more freedom for its people in the last decade. Eventually we will likely all be under the same controls at the rate we are going.
Lay off the sauce brother. Exit the bunker and let them rays shine down on your grape. It's not too late for you. RGDS!
“@cohodk said:
The Brics cannot succeed until China and Russia move away from being authoritarian dictatorships.
You mean like true democracy in the western world? LOL”
Are you suggesting that the USA, Russia, and China are similar in terms of individual opportunity, freedom, and self-determination?
I'm suggest they are all moving toward a common goal. Look at the interference of US government in what you say and what you do in the last decade. Meanwhile Russia in particular has enabled more freedom for its people in the last decade.
If we are doomed then it's because of the proliferation of propaganda like this.
“@cohodk said:
The Brics cannot succeed until China and Russia move away from being authoritarian dictatorships.
You mean like true democracy in the western world? LOL”
Are you suggesting that the USA, Russia, and China are similar in terms of individual opportunity, freedom, and self-determination?
I'm suggest they are all moving toward a common goal. Look at the interference of US government in what you say and what you do in the last decade. Meanwhile Russia in particular has enabled more freedom for its people in the last decade. Eventually we will likely all be under the same controls at the rate we are going.
Seems to me the right to say what one wants has only proliferated over the last decade. Opinions abound everywhere to an extent we've never seen before.
And exactly what freedoms have the Russian people gained?
I keep hearing about all the "freedoms" we've lost. Can someone please created a list? Please someone help....
I keep hearing about all the "freedoms" we've lost. Can someone please created a list? Please someone help....
Privacy.
Google just announced they will delete info they secretly collected from "incognito" browsers as a court settlement.
Bottom line, all our internet searches, texts, forum discussions, where our new car drives, what we buy, and every bank transaction, and our location privacy is being monitored.
To me, privacy is a core freedom that is totally lost. AI programs will end up finding ways to steal from folks more effectively than ever before.
Comments
There was nothing materially wrong with the BBC reporting.
https://en.wikipedia.org/wiki/BRICS
Are you contending that Saudi Arabia did not, in fact, join the group? Here's another report saying they did:
https://www.bloomberg.com/news/articles/2024-01-31/brics-gets-boost-as-saudi-arabia-joins-group-of-emerging-nations
Yelling at clouds on pmbug.com
Go look up the term woke in your dictionary while you are at it. Your types are as woke as they come. THKS!
The whole worlds off its rocker, buy Gold™.
Yup ....war....another strong word bantered about by those who wish to control and manipulate you. So scary.
Knowledge is the enemy of fear
I have 2 horns. Get it right!!
Knowledge is the enemy of fear
.
Why all the doom and gloom and why are you rooting for the demise of America ?
.
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
https://apnews.com/article/iran-currency-rial-record-low-economy-2c59af5dfa9bbbb9e5286352e2899cf5
"the demand for purchasing dollars is very high"
Knowledge is the enemy of fear
Haven't seen that photo since 2008. :roll, Economy's been BOOMIN' the past 16 years. Hope you took advantage and profited off the ride. RGDS!
The whole worlds off its rocker, buy Gold™.
There's no "group" -- it's not a real organization. It's not OPEC. It's a bunch of different countries whose first names beging with B, R, I, and C.
They're not coordinating fiscal or monetary or investment policies. Russia is a pariah state.
No conservatives I know of are sweating BRICs.
https://www.reuters.com/markets/currencies/indian-rupee-falls-record-low-against-us-dollar-2024-03-22/
"The Indian rupee fell to its lowest level on record against the U.S. dollar on Friday, weighed down by broad weakness in its Asian peers and aggressive local dollar demand, traders said."
But but but ......that can't be true cuz my fear mongering websites say otherwise. You're not gonna obfuscate me!! Lol
Knowledge is the enemy of fear
https://www.msn.com/en-us/money/markets/brics-invites-all-countries-to-join-it-in-killing-us-dollar/ar-BB1ksmLp?ocid=msedgntp&pc=DCTS&cvid=3ac1a80f3e22434fae0028c401547a7e&ei=35
https://www.investopedia.com/articles/forex/040915/countries-use-us-dollar.asp#:~:text=More than 65 countries peg,their official currency of exchange.
"More than 65 countries peg their currencies to the U.S. dollar while five U.S. territories and eleven foreign nations use it as their official currency of exchange"
Knowledge is the enemy of fear
https://brics2023.gov.za/evolution-of-brics/
https://brics2023.gov.za/brics-architecture/
Yelling at clouds on pmbug.com
Guess where all the new money goes:
that's a lot of dominoes!
Are they really this stupid, or are they destroying the dollar on purpose?
Derryb said...."LOL, government supplied data. "Liars figure and figures lie."
Then he posts govt supplied data. You can't make this stuff up.
Although your chart does appear to be proportional. Not quite understanding your comment.
Knowledge is the enemy of fear
we deal with what we are given.
As money gets printed it goes to the hands of those who need it the least.
Are they really this stupid, or are they destroying the dollar on purpose?
Sorry bro, I can't give up cash to just any Bulgarian agent/stranger but if you need a small plot of land to bunker down let me know. I can possibly hook you up. Seasonally things are about to be boomin up here in gods country....I invite you to come up and enjoy what makes this blessed county so great.. I'm nowhere near the top but your printed money certainly seems to trickle my way. God bless America and God bless the Commonwealth. RGDS!
The whole worlds off its rocker, buy Gold™.
The plan is to give stolen russian money to its enemy.
Sorry, but according to even lowball government CPI data the dollar is down 20% since 2020.. That's a one-fifth haircut in purchasing power in only four years. Goes to show you that the dollar index is a joke to those that use dollars.
Are they really this stupid, or are they destroying the dollar on purpose?
How much purchasing power has silver lost over last 3 1/2 years? And especially how much if one fell into the "premium" trap?
🦗🦗🦗
Knowledge is the enemy of fear
A great observation from ZH:
All this talk of runaway debt is a half-told tale that evokes kneejerk demands to rein in spending. However money is debt. Rein in spending and your curtail money production without which debt servicing becomes impossible. The problem is not profligate spending. It's the structural and arithmetically unsustainable paradox of debt-money
It's unsustainable, and everyone knows it, unless you have your head in a dark place.
I knew it would happen.
Is it just coincidence that your chosen data point is 3.5 years. LOL. Notice you chose to avoid "five years" when silver was less than half of its current spot price.
Silver is not an investment, it is dollar insurance to preserve dollar purchasing power over the long term and it has served this purpose well. Those buying silver as an investment should call it gutter metal.
Even minimum wage has lost its purchasing power. In 1960, the federal minimum wage was $1 per hour. After accounting for inflation, this would be worth around $10.28 today (it's at $7.25)
Are they really this stupid, or are they destroying the dollar on purpose?
Nope..not a coincidence. You started with 'the dollar being down 20% since 2020 and, well--n case your bad with calendars--3.5 years ago puts one solidily in 2020. I'm just playing the game by YOUR rules.
So the better question might be, is it just coincidence that you choose 2020 as a date?
Knowledge is the enemy of fear
The author of the piece chose 2020 and likely to show what has happened since last election. I let the experts choose their data points.
Are they really this stupid, or are they destroying the dollar on purpose?
Ok, let’s play……
How much do you have in bonds, coho?
How much in silver? On a comparative basis.
I knew it would happen.
More than you, in both. How's that compare?
Of course more in bonds than physical. More is equities than bonds. And more in real estate than equities. And let's not forget about --to be said in a soft voice--derivatives.
And now a loud.....BOO!!!
Knowledge is the enemy of fear
Great non-answer! (And I doubt it.)
I knew it would happen.
LOL you should use 2011 as your datapoint. 1/2 of what it was 13 years ago, or maybe 1980, again 1/2 of what it was 44 years ago. Talk about lost decades in the gutter. RGDS!
The whole worlds off its rocker, buy Gold™.
I suppose we can take anything out of context to fit our belief or agenda. > @cohodk said:
.
Does an ASE buy as much hamburger today as it did in 2020?
How many oz of silver does it take to buy the average house today vs 2020.
Point is, to address derryb, that yes there was/is inflation and that silver did not protect one's buying power. Perhaps it will be different in the future, but since "the election" silver has not offered protection. Gold has, but not silver. The stock market has done better, and so has residential real estate
Knowledge is the enemy of fear
You doubt too much.
Knowledge is the enemy of fear
Knowledge is the enemy of fear
And this is what makes silver a screaming buy.
Are they really this stupid, or are they destroying the dollar on purpose?
I sold some gutter today. RGDS!
The whole worlds off its rocker, buy Gold™.
Like you did in 2009, 2016 and 2020
Are they really this stupid, or are they destroying the dollar on purpose?
In 2020 silver dropped to $13. I was selling ASEs for $20.20. Today, spot price is about $25. The premiums dropped and silver eagles are closer to $30. I'm sure hamburger is up. So is silver. I did not realize we were comparing to gold, real estate, or Bitcoin.
Didn't sell any in '09, was buying quite a bit in '16 but did sell quite a bit in the summer of '20. Premiums had started going nutz by then. RGDS!
The whole worlds off its rocker, buy Gold™.
As always, after it is said and done, a lot more will be said than done.
This will always be a hot topic.
Going back to the basics, the Bretton Woods Agreement was agreed to by 44 countries to use the USD as the coin of the world as long as the USD was backed by gold. It was literally tossed into the trash by Nixon when the USD was detached from gold.
Any country can do as they wish in currency exchange and have been doing so for decades. They will deal with each other and use whatever form of currency they want, more so now the world is going AI.
Eventually the US will not be in the top five economies, our grandkids will have to get use to it. The steady improvements in the standard of living of 6 billion people will dwarf our economy.
In regards to gold, technically it has broken out from a 8 year cup with handle and appears to be headed to 3000. Just an observation...... not advice.
Gold will keep up with inflation. For recorded history, one troy ounce of gold has always been able to purchase a milk cow with calf.
Further, AI will drive productivity higher for at least the next decade, the stock markets will follow the productivity just as computers increased productivity and drove the markets from 1985 to now.
Not that anyone reading this will listen, but your time is better spent on investopedia.com
If you are too lazy to learn to invest, just buy an SP500 index etf and ride the ups and downs. That is pretty much Buffet's advice. I personally like QQQ. That is just me, again not advice.
Historically, silver is the poor man's gold. Currently it is either very undervalued or gold is extremely overvalued. The historic ratio should be 40 to 1, not 100 to 1.
I am betting silver will eventually close the gap. Again, not advice....
I did not check this for accuracy or spelling. This should not be considered financial advice as I gave up my license when I retired at age 51. Just saying.... BRICS does not matter enough to discuss. As the Colonial coin motto said, "Mind your Business".
We are all heros in our own mind and losers at the same time. I know I will never get this half-hour back. LOL
history of numbers won't change but the future is not written in stone
silve was bought up in a craze that had some sites shutting down their sales over the weekend. i'm willing to ignore kitco spt and go with 1oz rounds spot. during that time did the gsr hit 40? maybe close, but is it still there? a fever was born then and has since cooled. if that can't keep up the premiums, what will?
AI is inherently deflationary and is a threat to the debt-based system that is, in the words of the Federal Reserve chairman, "unsustainable". The banks are in trouble because the system requires inflation, so expect massive money creation in attempt to keep the system (and stocks & bonds) afloat.
Inflation and taxes are a political football, so expect gov.com to always lie about the real numbers. They make significant corrections in the employment and inflation numbers all the time, but people usually don't consider the monthly revisions since they become "past history" every month as new headlines are splashed across the media.
The reason that the BRICs are not insignificant is because the dollar has been completely mismanaged, on purpose, to the benefit of the entities who get first dibs on the proceeds from new money creation. The whole world is seeing this in-your-face manipulation and is reacting in ways to get away from debt-based currencies, re: Basel 3.
Historically, silver is the poor man's gold. Currently it is either very undervalued or gold is extremely overvalued. The historic ratio should be 40 to 1, not 100 to 1.
The GSR isn't an indication of whether either gold or silver is overvalued, except in relative terms to each other. They are both undervalued in terms of paper dollars.
Physical gold & silver aren't stocks or bonds and can't be analyzed in the same way. There is no counterparty risk involved in holding physical gold & silver like there is with any paper instruments - loan documents, contracts, trading accounts, revolving credit accounts, ETFs, and dollars in general. The dollar (and all fiat currencies) are a confidence game - always have been, and the problem is what happens when confidence is lost.
We may be seeing this now, on a global scale. Act accordingly.
I knew it would happen.
Even Russia says BRICs are too risky. Lol.
Bank of Russia Sees No Alternative to Yuan for Its Reserves https://www.bloomberg.com/news/articles/2024-03-29/bank-of-russia-sees-no-alternative-to-yuan-for-its-reserves
There are limited alternatives to China’s currency for use as reserves because the financial instruments of nations that are friendly to Russia carry too many risks, the central bank wrote in its annual report released Friday
Knowledge is the enemy of fear
If you wanna put your money into the T-bond market, by all means - go for it. China doesn't have a decent bond market, so what? The very fact that a large contingent of countries want to get away from the dollar is significant enough that even you should realize what that means in terms of inflation expectations here at home.
Of course, your buddies at the Fed will accommodate, and everything will be roses and champagne. Right?
I knew it would happen.
The Brics cannot succeed until China and Russia move away from being authoritarian dictatorships.
I actually hope they succeed as being a reserve currency carries a very unique and heavy burden.
Let those countries move away from the dollar. Yippee.
I'm well aware of global intermarket and monetary relationships, but perhaps you could expound on your thoughts on what you mean by an impact on "inflation expectations here at home."
Also, what is your infatuation with Treasury Bonds?
Knowledge is the enemy of fear
You mean like true democracy in the western world? LOL
Are they really this stupid, or are they destroying the dollar on purpose?
China go brrt:
https://www.scmp.com/economy/china-economy/article/3256967/xi-jinping-chinas-central-bank-restart-treasury-bond-trade-after-2-decade-hiatus
Yelling at clouds on pmbug.com
@derryb asked;
“@cohodk said:
The Brics cannot succeed until China and Russia move away from being authoritarian dictatorships.
You mean like true democracy in the western world? LOL”
Are you suggesting that the USA, Russia, and China are similar in terms of individual opportunity, freedom, and self-determination?
I'm suggest they are all moving toward a common goal. Look at the interference of US government in what you say and what you do in the last decade. Meanwhile Russia in particular has enabled more freedom for its people in the last decade. Eventually we will likely all be under the same controls at the rate we are going.
Are they really this stupid, or are they destroying the dollar on purpose?
Lay off the sauce brother. Exit the bunker and let them rays shine down on your grape. It's not too late for you. RGDS!
The whole worlds off its rocker, buy Gold™.
If we are doomed then it's because of the proliferation of propaganda like this.
Seems to me the right to say what one wants has only proliferated over the last decade. Opinions abound everywhere to an extent we've never seen before.
And exactly what freedoms have the Russian people gained?
I keep hearing about all the "freedoms" we've lost. Can someone please created a list? Please someone help....
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Knowledge is the enemy of fear
Google just announced they will delete info they secretly collected from "incognito" browsers as a court settlement.
Bottom line, all our internet searches, texts, forum discussions, where our new car drives, what we buy, and every bank transaction, and our location privacy is being monitored.
To me, privacy is a core freedom that is totally lost. AI programs will end up finding ways to steal from folks more effectively than ever before.
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