@jmski52 said: you think if the Yuan or the Ruble were the world's reserve currency China or Russia would be more altruistic than the United States?
Nobody said that.
I don't wish for the downfall of the US in order to make them go up.
Nobody on this forum has ever said that, either.
I'm not so sure that there needs to be a "world reserve currency", and there is no good reason to threaten other countries if they opt not to trade in US dollars. I think that competition in currencies might be optimal if you consider the underlying policies of the issuer to be important, for instance - in determining fair value for fair value. Wouldn't it be much better to offer a more competitive product or service than to threaten someone if they don't buy from you?
Better to threaten monetarily, or with B-1s? A threat is worthless if it cant be acted upon.
That's another reason BRICs wishes to become another NATO. Sending American made long range missiles targeted by American military technicians, by proxy, into a major super power doesn't seem to work. What makes you think sending in American piloted bombers would work? Bombers may have worked in Libya and other third world countries but they're off the table for now. And when they do get put on the table, game over.
The best way to lose a competitive edge is to stop focusing on innovation and to start making demands simply because your bogus debt-based currency is more prevalent than someone else's bogus debt-based currency.
The US is the most innovative and technologically advanced nation on the planet. Thats why we use the dollar and not our technology.
If we're so smart and so great, why are we forced to take out loans with our supposed "enemies?"
In general, I don't support monopolistic behaviors and that's what the dollar epitomized. That's not to say that China isn't trying to accomplish the same type of dominance, which would not be a good thing either.
Agreed, And you better bet they wouldnt be so timid.
The BRICS are moving in that direction simply because they don't agree with how the dollar is being used as a weapon and because they can observe the result of how the US can create more debt out of thin air in order to finance some very questionable policies, both domestically and worldwide. Ultimately, debt creation does nothing positive for the citizens that must burden the cost.
Let the Brics eat the Brics.
they are; gold brics. Why isn't our central bank buying gold? Almost forgot, they would have to borrow even more money to do so.
End the Fed.
End Congress.
End meaningless voting.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The United States Constitution established Congress. It did not establish a central bank.
If you really want Congress to be dissolved, then you are rooting for the demise of democracy. That is the type of thing that you accuse others on this forum of doing. The Federal Reserve is basically a form of financial fascism.
The United States Constitution established Congress. It did not establish a central bank.
If you really want Congress to be dissolved, then you are rooting for the demise of democracy. That is the type of thing that you accuse others on this forum of doing. The Federal Reserve is basically a form of financial fascism.
The United States Constitution established Congress. It did not establish a central bank.
If you really want Congress to be dissolved, then you are rooting for the demise of democracy. That is the type of thing that you accuse others on this forum of doing. The Federal Reserve is basically a form of financial fascism.
.
Is that what you think?
No democracy without Congress?
The Fed is Fascist?
Do you accuse?
.
Try and comprehend what I wrote.
I will answer your questions if you answer mine:
Who do you work for and what is your vocation ?
The United States Constitution established Congress. It did not establish a central bank.
If you really want Congress to be dissolved, then you are rooting for the demise of democracy. That is the type of thing that you accuse others on this forum of doing. The Federal Reserve is basically a form of financial fascism.
.
Is that what you think?
No democracy without Congress?
The Fed is Fascist?
Do you accuse?
.
Try and comprehend what I wrote.
I will answer your questions if you answer mine:
Who do you work for and what is your vocation ?
.
Hmmm.... some of the tactics and word plays... reminds me of telemarketers.
pic by Brandon Kelley who used to post here. Here's a matte finish he captured while working at Anaconda Coin. Brandon if you're still here with us give us a shout out.
The United States Constitution established Congress. It did not establish a central bank.
If you really want Congress to be dissolved, then you are rooting for the demise of democracy. That is the type of thing that you accuse others on this forum of doing. The Federal Reserve is basically a form of financial fascism.
.
Is that what you think?
No democracy without Congress?
The Fed is Fascist?
Do you accuse?
.
Try and comprehend what I wrote.
I will answer your questions if you answer mine:
Who do you work for and what is your vocation ?
.
Redneck hillbilly that tiptoes.on your brain.
You really are infatuated with me. It's cute but you really need to stop. I'm not interested in you.
The United States Constitution established Congress. It did not establish a central bank.
If you really want Congress to be dissolved, then you are rooting for the demise of democracy. That is the type of thing that you accuse others on this forum of doing. The Federal Reserve is basically a form of financial fascism.
.
Is that what you think?
No democracy without Congress?
The Fed is Fascist?
Do you accuse?
.
Try and comprehend what I wrote.
I will answer your questions if you answer mine:
Who do you work for and what is your vocation ?
.
Redneck hillbilly that tiptoes.on your brain.
You really are infatuated with me. It's cute but you really need to stop. I'm not interested in you.
.
You seem to be a paid spokesperson for the financial "industry".
Realizing that, your posts take on a different (less palatable) flavor.
Why not tell us your general line of work ? Are you ashamed of it ?
I suspect that someone on this forum knows you, so you can't lie about it without being called out.
When Congress changed the status of my bank deposits to that of an unsecured creditor, it became abundantly clear that we are dealing with rampant criminality. The banking lobby never gets called out.
Yeah, let's talk about capital controls. You don't think that the US is implementing capital controls? Why the war on cash?
Q: Are You Printing Money? Bernanke: Not Literally
@dcarr said:
Who do you work for and what is your vocation ?
Redneck hillbilly that tiptoes.on your brain.
.
So what you are saying is, we should take financial advice from a "redneck hillbilly".
No thanks.
.
I've learned enough over the years that I need no advice on PMs. Nonetheless, I would not seek financial/investment advice on a public/anonymous forum. I do like reading and sharing opinion here.
Those I do look to for financial advice were spot on when they recently recommended quantum computing related stocks/ETFs they have been on fire all week.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Yes it is a strange world... one that does not make sense more and more of time.
How many of you have invested in f*rtcoin? A total joke but capitalization is near what Office Depot is worth? WTeffff? (or maybe the news item I read was just a joke? But it was on the internet so it MUST be true, right???!)
@tincup said:
Yes it is a strange world... one that does not make sense more and more of time.
How many of you have invested in f*rtcoin? A total joke but capitalization is near what Office Depot is worth? WTeffff? (or maybe the news item I read was just a joke? But it was on the internet so it MUST be true, right???!)
I would have bought a crap load but the gas fees are just too high!
you continue to be the lead cheerleader for BRICS. Weird...
I don't think anyone here has ever said, "Gee, I sure do hope that the BRICS succeed in destroying Western Civilization. The main problem is that Western Civilization has gone astray so far in using fiat money as a weapon and a control mechanism that the rest of the world refuses to play along anymore.
If pointing out these problems is being a cheerleader, then please tell us the real reasons why the BRICS are coalescing the way that they are. Enlighten us.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said: you continue to be the lead cheerleader for BRICS. Weird...
I don't think anyone here has ever said, "Gee, I sure do hope that the BRICS succeed in destroying Western Civilization. The main problem is that Western Civilization has gone astray so far in using fiat money as a weapon and a control mechanism that the rest of the world refuses to play along anymore.
If pointing out these problems is being a cheerleader, then please tell us the real reasons why the BRICS are coalescing the way that they are. Enlighten us.
First, why do you continually feel the need to answer for @derryb?
@jmski52 said: you continue to be the lead cheerleader for BRICS. Weird...
I don't think anyone here has ever said, "Gee, I sure do hope that the BRICS succeed in destroying Western Civilization. The main problem is that Western Civilization has gone astray so far in using fiat money as a weapon and a control mechanism that the rest of the world refuses to play along anymore.
If pointing out these problems is being a cheerleader, then please tell us the real reasons why the BRICS are coalescing the way that they are. Enlighten us.
First, why do you continually feel the need to answer for @derryb?
Derryb is a big boy, he can speak for himself. The fact that others agree with something doesn't indicate they are answering for me. It simply means they agree. Please point out any statements I have made concerning BRICs that are untrue. Truth hurts unless you properly digest it.
Bottom line on all of my BRICs comments is that it poses a threat to the international stability of the US dollar. And that does and will continue to have a huge impact on gold.
Seems we have another case of a forum member who lets his emotions influence his view on financial matters. Good luck wid dat, especially if your involved in precious metals markets.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb said:
Unlike the US they have yet to use any currency as a political weapon.
They've ALL used their "laws" as political weapons. Google "Putin, Yukos" and "CCP, Jack Ma" for starters.
That's not EVEN mentioning capital controls !!!
I care not about their laws or their politics.
And yet you continue to be the lead cheerleader for BRICS. Weird...
Think of me as your personal Paul Revere. I'm simply telling you where the threat(s) lie and why they pose a threat to the paper in your wallet.
"If you know the enemy and know yourself, you need not fear the result of a hundred battles." - Sun Tsu
I don't need a personal Paul Revere. Furthermore, there is a big difference between warning that US debt is out of control and/or that the fed needs to stop printing money out of thin air, and sticking up for countries that are run by despots and dictators. I for one am glad that the US government uses its power and influence (including monetary power) to try and keep these countries in check. Someone has to.
@derryb said:
Unlike the US they have yet to use any currency as a political weapon.
They've ALL used their "laws" as political weapons. Google "Putin, Yukos" and "CCP, Jack Ma" for starters.
That's not EVEN mentioning capital controls !!!
I care not about their laws or their politics.
And yet you continue to be the lead cheerleader for BRICS. Weird...
Think of me as your personal Paul Revere. I'm simply telling you where the threat(s) lie and why they pose a threat to the paper in your wallet.
"If you know the enemy and know yourself, you need not fear the result of a hundred battles." - Sun Tsu
I don't need a personal Paul Revere. Furthermore, there is a big difference between warning that US debt is out of control and/or that the fed needs to stop printing money out of thin air, and sticking up for countries that are run by despots and dictators. I for one am glad that the US government uses its power and influence (including monetary power) to try and keep these countries in check. Someone has to.
What's that power and influence done to the value of what's in your wallet? We do know that it has put more paper in the wallets of those who wield it.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
First, why do you continually feel the need to answer for @derryb?
It happens to be a thread that I started, and I read the comments in my thread so I'm commenting on a comment in my thread. I happen to agree with derryb on this point. Why is this a problem for you?
Again, if pointing out these problems is being a cheerleader, then please tell us the real reasons why the BRICS are coalescing the way that they are. Enlighten us.
Q: Are You Printing Money? Bernanke: Not Literally
Again, if pointing out these problems is being a cheerleader, then please tell us the real reasons why the BRICS are coalescing the way that they are. Enlighten us.
I think one if the issues is when flaws of the Brics are pointed out, they are quickly dismissed via pointing out the same flaws in the US. To some, this appears to be hypocritical and has an aire of cheerleading.
@jmski52 said: First, why do you continually feel the need to answer for @derryb?
It happens to be a thread that I started, and I read the comments in my thread so I'm commenting on a comment in my thread. I happen to agree with derryb on this point. Why is this a problem for you?
Again, if pointing out these problems is being a cheerleader, then please tell us the real reasons why the BRICS are coalescing the way that they are. Enlighten us.
No one said you couldn't comment in your own thread. However, I have made very few comments in this thread up until this point (each one directed at derryb) and you have rushed in to answer for him each time. It just seems odd, let the man answer for himself and then comment on that. For the record, I don't think you have been cheerleading, but @derryb certainly has.
Ironically I went to bed last night and @cohodk answered for me. However, I completely agree and couldn't have said it better myself.
"I think one if the issues is when flaws of the Brics are pointed out, they are quickly dismissed via pointing out the same flaws in the US. To some, this appears to be hypocritical and has an aire of cheerleading."
@derryb said:
With which do you see the most upside percentage wise in the long term?
I've thought for a long time that silver has a lot more room to run due to the gold to silver ratio, but I've also been wrong for a long time, so what do I know.
you have rushed in to answer for him each time. It just seems odd, let the man answer for himself and then comment on that.
For the record, I reserve the right to comment on any of your remarks in any thread whether or not derryb has made any statement pro or con on any topic.
derryb is a big boy and there is no need whatsoever for anyone to "rush in" to answer for him.
Likewise, coho has the same right to comment on a thread without being referred to as "rushing in" to answer for anyone else.
Pointing out flaws in US policy relating to the reserve currency as it concerns the BRICS is always relevant. In my opinion, the US has completely screwed the pooch by mismanaging monetary policy while drastically overspending and digging a hole of debt that can't be managed much longer. Not many people in the US (or anywhere else in the West) will benefit from this.
The fact that the BRICS want out of the dollar is simply an obvious fact. Whether they can successfully navigate the formation of a new system is up for debate, and nobody is doing any cheerleading by pointing out what's occurring on the world stage.
Concerning gold, it seems to me that the BRICS are beginning to recognize the natural role that gold can play in creating legitimacy and public acceptance for a new currency.
This is the complete opposite of the gold suppression and fiat money game that Western central banks have run for the past 90 years. The Western central banks, including the illegitimate Federal Reserve System is all about their own self-interest control game, and that's not cheerleading for the BRICS by any stretch of the imagination.
Q: Are You Printing Money? Bernanke: Not Literally
I think one if the issues is when flaws of the Brics are pointed out, they are quickly dismissed via pointing out the same flaws in the US. To some, this appears to be hypocritical and has an aire of cheerleading.
The flaws that others are pointing out concerning BRICs are about the the politics of BRICs. Their politics or their human rights records are of no concern to me when talking about their economic union and its affect on the US dollar. FWIW the US has partnered up with some pretty shady dictators in the past, and ironically for what it considers economic reasons. Throwing stones if you live in a glass house is what is hypocritical.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@jmski52 said: you have rushed in to answer for him each time. It just seems odd, let the man answer for himself and then comment on that.
For the record, I reserve the right to comment on any of your remarks in any thread whether or not derryb has made any statement pro or con on any topic.
derryb is a big boy and there is no need whatsoever for anyone to "rush in" to answer for him.
Likewise, coho has the same right to comment on a thread without being referred to as "rushing in" to answer for anyone else.
Pointing out flaws in US policy relating to the reserve currency as it concerns the BRICS is always relevant. In my opinion, the US has completely screwed the pooch by mismanaging monetary policy while drastically overspending and digging a hole of debt that can't be managed much longer. Not many people in the US (or anywhere else in the West) will benefit from this.
The fact that the BRICS want out of the dollar is simply an obvious fact. Whether they can successfully navigate the formation of a new system is up for debate, and nobody is doing any cheerleading by pointing out what's occurring on the world stage.
Concerning gold, it seems to me that the BRICS are beginning to recognize the natural role that gold can play in creating legitimacy and public acceptance for a new currency.
This is the complete opposite of the gold suppression and fiat money game that Western central banks have run for the past 90 years. The Western central banks, including the illegitimate Federal Reserve System is all about their own self-interest control game, and that's not cheerleading for the BRICS by any stretch of the imagination.
LOL TLDR except for the first sentence. Apparently I struck a nerve.
Of course anyone has the right to comment unless our hosts deem otherwise. I'm done with this thread. @derryb can continue to defend communists and despots, and you can continue to defend him for defending communists and despots. It's just a big CJ anyway, so carryon. 🙄
I'm out as well. A good discussion of an economic threat to the dollar and its affect on gold got turned into a "God Bless America" flag waving emotional outcry. Let's try to keep it to PMs and economic things that affect PMs and not a discussion about one's loyalty to the flag. The question of loyalty should be directed to faith in one's economic leadership.
EDITED TO ADD: Thread should get rightfully nuked. It always does when politics or emotions take over a worthwhile discussion.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@dcarr said: So what you are saying is, we should take financial advice from a "redneck hillbilly". > No thanks.
If the "redneck hillbilly" is a succesful businessman who knows economics and finance, sure why not.
You don't want to take advice from a financial ignoramus who has never run a business or managed money but spent their entire life in politics taking $$$ from other people.
@cohodk said:
I think one if the issues is when flaws of the Brics are pointed out, they are quickly dismissed via pointing out the >same flaws in the US. To some, this appears to be hypocritical and has an aire of cheerleading.
First, the flaws in the BRICs are STRUCTURAL and RAMPANT throughout their financial systems. In the time it takes all of you people to read my post here, you could do all the bond market trading for all the BRICs.
Second, Monopoly money is worth the same today as it was 40 years ago. Doesn't mean it's useful.
Third, the BRICs prefer gold for "secret" transactions even though they can't dump it and liquidity is limited. BitCoin still has questions about it.
This thread has lots of useful information even though (at times) it goes off tangent. Still, a discussion of BRICs and their policy choices HAS to involve a debate on politics -- or rather, their limited financial markets -- as that explains the surge in Central Bank gold buying which is what this thread is about.
Countries with capital controls, tiny bond markets, nonexistent money markets, corrupt and fragile banks, no rule of law, no private property rights, political instability, currencies that drop 50-90% in a few years......these are NOT countries that are a threat to the dollar.
@jmski52 said:
In my opinion, the US has completely screwed the pooch by mismanaging monetary policy while drastically overspending and digging a hole of debt that can't be managed much longer. Not many people in the US (or anywhere else in the West) will benefit from this.
Do you have a timetable for how long this can't be managed "much longer" ? Even if you are right...if it takes 50 or 75 or 100 years to happen.....then your being "right" really doesn't matter.
It took Greece...a 3rd-rate, tourist-driven economy......30 years to "screw the pooch" economically and financially when it hit in 2010. Would you like to guess how long it will take the global financial reserve currency superpower to "screw the pooch." ?
We have problems, JMSKI, but they are NOTHING compared to the BRICs, the EU, or other countries. Our economy and financial markets are the envy of the WORLD !!!
The fact that the BRICS want out of the dollar is simply an obvious fact. Whether they can successfully navigate the formation of a new system is up for debate, and nobody is doing any cheerleading by pointing out what's occurring on the world stage.
Good luck to them, nobody is investing any large sums with Putin, Lula, the Chinese Communist Party, or South Africa.
Concerning gold, it seems to me that the BRICS are beginning to recognize the natural role that gold can play in creating legitimacy and public acceptance for a new currency.
Nah, I just think that keptomaniacs and billioaires realize that if they have gold bars or coins they can always sell them for cash. Accounts can be frozen....traditional financial assets and even Bitcoin/crypto.
This is the complete opposite of the gold suppression and fiat money game that Western central banks have run for the past 90 years. The Western central banks, including the illegitimate Federal Reserve System is all about their own self-interest control game, and that's not cheerleading for the BRICS by any stretch of the imagination.
Why is The Fed illegitimate ? You're not Andrew Jackson railing against the Bank of the United States, are you ?
We have a Central Bank just like every other country. It helps to manage the economy. It can act lightning-fast like during the pandemic whereas fiscal policy takes months or years to impact the economy.
Have you studied banking or monetary policy ? I have....the structure of the Federal Reserve System (12 FRBs, FOMC, Board of Governors, rotating heads and voting members, etc.) is pure genius.
Comments
double post
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
That's another reason BRICs wishes to become another NATO. Sending American made long range missiles targeted by American military technicians, by proxy, into a major super power doesn't seem to work. What makes you think sending in American piloted bombers would work? Bombers may have worked in Libya and other third world countries but they're off the table for now. And when they do get put on the table, game over.
If we're so smart and so great, why are we forced to take out loans with our supposed "enemies?"
they are; gold brics. Why isn't our central bank buying gold? Almost forgot, they would have to borrow even more money to do so.
End meaningless voting.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
WTH!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
.
The United States Constitution established Congress. It did not establish a central bank.
If you really want Congress to be dissolved, then you are rooting for the demise of democracy. That is the type of thing that you accuse others on this forum of doing. The Federal Reserve is basically a form of financial fascism.
.
.
Is that what you think?
No democracy without Congress?
The Fed is Fascist?
Do you accuse?
Knowledge is the enemy of fear
I'd rather have a double eagle.
My US Mint Commemorative Medal Set
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
That is awesome.
My US Mint Commemorative Medal Set
.
Try and comprehend what I wrote.
I will answer your questions if you answer mine:
Who do you work for and what is your vocation ?
.
Hmmm.... some of the tactics and word plays... reminds me of telemarketers.
pic by Brandon Kelley who used to post here. Here's a matte finish he captured while working at Anaconda Coin. Brandon if you're still here with us give us a shout out.
Here's a link to many other great shots from him that I shared on the forum
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Redneck hillbilly that tiptoes.on your brain.
You really are infatuated with me. It's cute but you really need to stop. I'm not interested in you.
Knowledge is the enemy of fear
I think he's just trying to uncover the reason you post here. Obviously not because you like PMs or have questions about them.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
.
You seem to be a paid spokesperson for the financial "industry".
Realizing that, your posts take on a different (less palatable) flavor.
Why not tell us your general line of work ? Are you ashamed of it ?
I suspect that someone on this forum knows you, so you can't lie about it without being called out.
.
We are still one nation , only there is a wider gap between the “haves” and “have nots”.
.
So what you are saying is, we should take financial advice from a "redneck hillbilly".
No thanks.
.
They've ALL used their "laws" as political weapons. Google "Putin, Yukos" and "CCP, Jack Ma" for starters.
That's not EVEN mentioning capital controls !!!
LoL
I care not about their laws or their politics.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
When Congress changed the status of my bank deposits to that of an unsecured creditor, it became abundantly clear that we are dealing with rampant criminality. The banking lobby never gets called out.
Yeah, let's talk about capital controls. You don't think that the US is implementing capital controls? Why the war on cash?
I knew it would happen.
I've learned enough over the years that I need no advice on PMs. Nonetheless, I would not seek financial/investment advice on a public/anonymous forum. I do like reading and sharing opinion here.
Those I do look to for financial advice were spot on when they recently recommended quantum computing related stocks/ETFs they have been on fire all week.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
And yet you continue to be the lead cheerleader for BRICS. Weird...
Philippians 4:4-7
^^Strange world™ no doubt. How on earth did we get here??? THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Yes it is a strange world... one that does not make sense more and more of time.
How many of you have invested in f*rtcoin? A total joke but capitalization is near what Office Depot is worth? WTeffff? (or maybe the news item I read was just a joke? But it was on the internet so it MUST be true, right???!)
I would have bought a crap load but the gas fees are just too high!
Think of me as your personal Paul Revere. I'm simply telling you where the threat(s) lie and why they pose a threat to the paper in your wallet.
"If you know the enemy and know yourself, you need not fear the result of a hundred battles." - Sun Tsu
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
you continue to be the lead cheerleader for BRICS. Weird...
I don't think anyone here has ever said, "Gee, I sure do hope that the BRICS succeed in destroying Western Civilization. The main problem is that Western Civilization has gone astray so far in using fiat money as a weapon and a control mechanism that the rest of the world refuses to play along anymore.
If pointing out these problems is being a cheerleader, then please tell us the real reasons why the BRICS are coalescing the way that they are. Enlighten us.
I knew it would happen.
First, why do you continually feel the need to answer for @derryb?
Second, the following thread is full of his cheerleading (not to mention this very thread). https://forums.collectors.com/discussion/1106267/is-this-supportive-of-brics#latest
Philippians 4:4-7
Derryb is a big boy, he can speak for himself. The fact that others agree with something doesn't indicate they are answering for me. It simply means they agree. Please point out any statements I have made concerning BRICs that are untrue. Truth hurts unless you properly digest it.
Bottom line on all of my BRICs comments is that it poses a threat to the international stability of the US dollar. And that does and will continue to have a huge impact on gold.
Seems we have another case of a forum member who lets his emotions influence his view on financial matters. Good luck wid dat, especially if your involved in precious metals markets.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I don't need a personal Paul Revere. Furthermore, there is a big difference between warning that US debt is out of control and/or that the fed needs to stop printing money out of thin air, and sticking up for countries that are run by despots and dictators. I for one am glad that the US government uses its power and influence (including monetary power) to try and keep these countries in check. Someone has to.
Philippians 4:4-7
What's that power and influence done to the value of what's in your wallet? We do know that it has put more paper in the wallets of those who wield it.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb Why do you edit every post especially without noting the edit?
Edited to add I removed my LOL's from your previous two posts because you edited out the asinine comments you made.
Philippians 4:4-7
Any post I edit is my post, and mine alone, until someone quotes it. Then it is no longer just my post.
Note: edited to correct spelling.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
class dismissed.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
As I noted above I removed my LOL's because you keep editing your posts. IMHO it is poor form to edit posts without noting the edit, but you do you.
Philippians 4:4-7
Now you're just making stuff up, but once again you do you.
Philippians 4:4-7
Wanna talk about PMs?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I'm bullish both gold and silver.
Philippians 4:4-7
With which do you see the most upside percentage wise in the long term?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
First, why do you continually feel the need to answer for @derryb?
It happens to be a thread that I started, and I read the comments in my thread so I'm commenting on a comment in my thread. I happen to agree with derryb on this point. Why is this a problem for you?
Again, if pointing out these problems is being a cheerleader, then please tell us the real reasons why the BRICS are coalescing the way that they are. Enlighten us.
I knew it would happen.
.> @jmski52 said:
I think one if the issues is when flaws of the Brics are pointed out, they are quickly dismissed via pointing out the same flaws in the US. To some, this appears to be hypocritical and has an aire of cheerleading.
Knowledge is the enemy of fear
No one said you couldn't comment in your own thread. However, I have made very few comments in this thread up until this point (each one directed at derryb) and you have rushed in to answer for him each time. It just seems odd, let the man answer for himself and then comment on that. For the record, I don't think you have been cheerleading, but @derryb certainly has.
Ironically I went to bed last night and @cohodk answered for me. However, I completely agree and couldn't have said it better myself.
"I think one if the issues is when flaws of the Brics are pointed out, they are quickly dismissed via pointing out the same flaws in the US. To some, this appears to be hypocritical and has an aire of cheerleading."
Philippians 4:4-7
I've thought for a long time that silver has a lot more room to run due to the gold to silver ratio, but I've also been wrong for a long time, so what do I know.
Philippians 4:4-7
you have rushed in to answer for him each time. It just seems odd, let the man answer for himself and then comment on that.
For the record, I reserve the right to comment on any of your remarks in any thread whether or not derryb has made any statement pro or con on any topic.
derryb is a big boy and there is no need whatsoever for anyone to "rush in" to answer for him.
Likewise, coho has the same right to comment on a thread without being referred to as "rushing in" to answer for anyone else.
Pointing out flaws in US policy relating to the reserve currency as it concerns the BRICS is always relevant. In my opinion, the US has completely screwed the pooch by mismanaging monetary policy while drastically overspending and digging a hole of debt that can't be managed much longer. Not many people in the US (or anywhere else in the West) will benefit from this.
The fact that the BRICS want out of the dollar is simply an obvious fact. Whether they can successfully navigate the formation of a new system is up for debate, and nobody is doing any cheerleading by pointing out what's occurring on the world stage.
Concerning gold, it seems to me that the BRICS are beginning to recognize the natural role that gold can play in creating legitimacy and public acceptance for a new currency.
This is the complete opposite of the gold suppression and fiat money game that Western central banks have run for the past 90 years. The Western central banks, including the illegitimate Federal Reserve System is all about their own self-interest control game, and that's not cheerleading for the BRICS by any stretch of the imagination.
I knew it would happen.
The flaws that others are pointing out concerning BRICs are about the the politics of BRICs. Their politics or their human rights records are of no concern to me when talking about their economic union and its affect on the US dollar. FWIW the US has partnered up with some pretty shady dictators in the past, and ironically for what it considers economic reasons. Throwing stones if you live in a glass house is what is hypocritical.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
LOL TLDR except for the first sentence. Apparently I struck a nerve.
Of course anyone has the right to comment unless our hosts deem otherwise. I'm done with this thread. @derryb can continue to defend communists and despots, and you can continue to defend him for defending communists and despots. It's just a big CJ anyway, so carryon. 🙄
Philippians 4:4-7
I'm out as well. A good discussion of an economic threat to the dollar and its affect on gold got turned into a "God Bless America" flag waving emotional outcry. Let's try to keep it to PMs and economic things that affect PMs and not a discussion about one's loyalty to the flag. The question of loyalty should be directed to faith in one's economic leadership.
EDITED TO ADD: Thread should get rightfully nuked. It always does when politics or emotions take over a worthwhile discussion.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
If the "redneck hillbilly" is a succesful businessman who knows economics and finance, sure why not.
You don't want to take advice from a financial ignoramus who has never run a business or managed money but spent their entire life in politics taking $$$ from other people.
First, the flaws in the BRICs are STRUCTURAL and RAMPANT throughout their financial systems. In the time it takes all of you people to read my post here, you could do all the bond market trading for all the BRICs.
Second, Monopoly money is worth the same today as it was 40 years ago. Doesn't mean it's useful.
Third, the BRICs prefer gold for "secret" transactions even though they can't dump it and liquidity is limited. BitCoin still has questions about it.
This thread has lots of useful information even though (at times) it goes off tangent. Still, a discussion of BRICs and their policy choices HAS to involve a debate on politics -- or rather, their limited financial markets -- as that explains the surge in Central Bank gold buying which is what this thread is about.
Countries with capital controls, tiny bond markets, nonexistent money markets, corrupt and fragile banks, no rule of law, no private property rights, political instability, currencies that drop 50-90% in a few years......these are NOT countries that are a threat to the dollar.
These are countries buying gold.
Do you have a timetable for how long this can't be managed "much longer" ? Even if you are right...if it takes 50 or 75 or 100 years to happen.....then your being "right" really doesn't matter.
It took Greece...a 3rd-rate, tourist-driven economy......30 years to "screw the pooch" economically and financially when it hit in 2010. Would you like to guess how long it will take the global financial reserve currency superpower to "screw the pooch." ?
We have problems, JMSKI, but they are NOTHING compared to the BRICs, the EU, or other countries. Our economy and financial markets are the envy of the WORLD !!!
Good luck to them, nobody is investing any large sums with Putin, Lula, the Chinese Communist Party, or South Africa.
Nah, I just think that keptomaniacs and billioaires realize that if they have gold bars or coins they can always sell them for cash. Accounts can be frozen....traditional financial assets and even Bitcoin/crypto.
Why is The Fed illegitimate ? You're not Andrew Jackson railing against the Bank of the United States, are you ?
We have a Central Bank just like every other country. It helps to manage the economy. It can act lightning-fast like during the pandemic whereas fiscal policy takes months or years to impact the economy.
Have you studied banking or monetary policy ? I have....the structure of the Federal Reserve System (12 FRBs, FOMC, Board of Governors, rotating heads and voting members, etc.) is pure genius.