@GoldFinger1969 said:
You guys have no experience in monetary policy or Fed Watching.
You're like a guy who criticizes the medical establishment without an MD.
Does running the finances for the family, paying the bills on time, not spending beyond our means and having a surplus at the end of the year count? LOL
Money and integrity are not rocket science regardless of what the FED and those who want you to pay them for financial advice would have you believe.
Everyone is a "money guy." Some are good at it and some are not. The ones who are good at it are fully qualified to talk about monetary policy and to comment on FED mismanagement.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
@GoldFinger1969 said:
You guys have no experience in monetary policy or Fed Watching.
You're like a guy who criticizes the medical establishment without an MD.
Does running the finances for the family, paying the bills on time, not spending beyond our means and having a surplus at the end of the year count? LOL
Money and integrity are not rocket science regardless of what the FED and those who want you to pay them for financial advice would have you believe.
Everyone is a "money guy." Some are good at it and some are not. The ones who are good at it are fully qualified to talk about monetary policy and to comment on FED mismanagement.
Most people can handle the finances for a family, some cannot. But no one can for 131 million, especially when those we hired to keep the house tidy keep breaking things. And very, very few are even willing to try. Unfortunately, most everyone thinks they know better.
@GoldFinger1969 said:
You guys have no experience in monetary policy or Fed Watching.
You're like a guy who criticizes the medical establishment without an MD.
Does running the finances for the family, paying the bills on time, not spending beyond our means and having a surplus at the end of the year count? LOL
Money and integrity are not rocket science regardless of what the FED and those who want you to pay them for financial advice would have you believe.
Everyone is a "money guy." Some are good at it and some are not. The ones who are good at it are fully qualified to talk about monetary policy and to comment on FED mismanagement.
Most people can handle the finances for a family, some cannot. But no one can for 131 million, especially when those we hired to keep the house tidy keep breaking things. And very, very few are even willing to try. Unfortunately, most everyone thinks they know better.
That thar world wide web made every'ne 'n expert. If I seen it thar it must bee tru. 'Merica. RGDS!
@cohodk said:
Everything revolves around fear, right derryb? Make 'em scared about them or the other guy or other country, and we can control and manipulate. What a brilliant plan most succumb to.
.
More doom and gloom. Sounds like you are afraid. Afraid of losing business.
.
Really having trouble following (understanding) you anymore.
.
When other people write about things that are not going well in the economy or society, you and your buddy usually pounce on them claiming that they are all "doom and gloom" and "bunker dwellers".
But your posts are among the most negative about people in general.
@cohodk said:
Everything revolves around fear, right derryb? Make 'em scared about them or the other guy or other country, and we can control and manipulate. What a brilliant plan most succumb to.
.
More doom and gloom. Sounds like you are afraid. Afraid of losing business.
.
Really having trouble following (understanding) you anymore.
.
When other people write about things that are not going well in the economy or society, you and your buddy usually pounce on them claiming that they are all "doom and gloom" and "bunker dwellers".
But your posts are among the most negative about people in general.
.
And all that is true. The doom and gloomers have been proven incorrect time and time again.
Every single one of us has said "people are so dumb", as we are constantly witness to ignorance and weakness among ourselves throughout society.
The worst of the three was sitting in my Controller’s office developing a plan for payroll. We got through it, never missed a bill or payroll, but it sucked for awhile.
@jmski52 said:
Before your time…………your naivity might be excusable in some instances, but you should know better by now.
Have you ever run a going concern, or have you always made a living in “finance”?
Yes, no.
17 employees
Traded billions.
Redneck hillbilly.
.
You must not have been very successful, otherwise you wouldn't be spending your time on forums such as this.
.
Ditto. LULZ!
.
If someone actually "traded billions" and was successful at it, wouldn't they be like a hedge fund manager on a big yacht somewhere ?
I have not "traded billions". I come here because I like coins, ingots, and collecting. It is a hobby. As a one-man operation with no employees or outside investors, I have been reasonably successful. And it is a fun activity. But it is not at hedge fund levels. "Thousands" not "Billions".
And why do you come here ? You seem to complain about silver a lot, but that is all. I see no reason why you even bother.
@jmski52 said:
Before your time…………your naivity might be excusable in some instances, but you should know better by now.
Have you ever run a going concern, or have you always made a living in “finance”?
Yes, no.
17 employees
Traded billions.
Redneck hillbilly.
.
You must not have been very successful, otherwise you wouldn't be spending your time on forums such as this.
.
Ditto. LULZ!
.
If someone actually "traded billions" and was successful at it, wouldn't they be like a hedge fund manager on a big yacht somewhere ?
I have not "traded billions". I come here because I like coins, ingots, and collecting. It is a hobby. As a one-man operation with no employees or outside investors, I have been reasonably successful. And it is a fun activity. But it is not at hedge fund levels. "Thousands" not "Billions".
And why do you come here ? You seem to complain about silver a lot, but that is all. I see no reason why you even bother.
.
You obviously don't understand context. I didn't say billions was one transaction. Again, one can do a lot in 40 years. Your contempt of some blinds your common sense.
To the point jmski and Goldfinger are bantering about....
I have a friend that sells about $30 million in real estate per year. She's been doing it for 40 years. That's over $1 billion in sales. One could reasonably consider she understands her market (real estate better than someone who wrote a term-paper 50 years ago.
I like coins and bullion also and I subscribe to some the narrative. I also see a lot of potential in folk if they would just stop being so weak and therefore controlled and manipulated.
@jmski52 said:
Before your time…………your naivity might be excusable in some instances, but you should know better by now.
Have you ever run a going concern, or have you always made a living in “finance”?
Yes, no.
17 employees
Traded billions.
Redneck hillbilly.
.
You must not have been very successful, otherwise you wouldn't be spending your time on forums such as this.
.
Ditto. LULZ!
.
If someone actually "traded billions" and was successful at it, wouldn't they be like a hedge fund manager on a big yacht somewhere ?
I have not "traded billions". I come here because I like coins, ingots, and collecting. It is a hobby. As a one-man operation with no employees or outside investors, I have been reasonably successful. And it is a fun activity. But it is not at hedge fund levels. "Thousands" not "Billions".
And why do you come here ? You seem to complain about silver a lot, but that is all. I see no reason why you even bother.
.
Because gutter metal is not a precious metal. I know you are a bit slow and that's perfectly fine but the sooner you get that fact through your grape the better. I am glad you have and enjoy a hobby, everyone should have one. Which reminds me, did you finish the design for my "In Gutter We Trust" token yet? THKS!
Most of what I read here from the anti-Fed side is economic and financial nonsense.
I'm anti-FED, it's no secret. My opinions about higher inflation, lower dollar purchasing power, the reflection of both in higher PM prices and the dying use of dollars abroad are apparently BS. LOL
Bankers/economic wizards got us into this mess. How are you guys going to get us out of it? Seriously, I'd like to know.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
I'm by no means a financial expert and recognize the Fed and U.S. government have tools at their disposal that the normal family, business and even states don't have at their disposal. No family or business could survive if they practice the financial policies of the federal government. Some states would have probably gone bankrupt but for the ability of the federal government to bail them out. That said some of the experts are saying and what we novices know instinctively is there is a lot of pain in store for the U.S. population. Will the U.S. government, Fed and the uber wealthy survive? Of course because the pain for their idiotic financial practices will be transferred to the general population.
The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
@jmski52 said:
Before your time…………your naivity might be excusable in some instances, but you should know better by now.
Have you ever run a going concern, or have you always made a living in “finance”?
Yes, no.
17 employees
Traded billions.
Redneck hillbilly.
.
You must not have been very successful, otherwise you wouldn't be spending your time on forums such as this.
.
Ditto. LULZ!
.
If someone actually "traded billions" and was successful at it, wouldn't they be like a hedge fund manager on a big yacht somewhere ?
I have not "traded billions". I come here because I like coins, ingots, and collecting. It is a hobby. As a one-man operation with no employees or outside investors, I have been reasonably successful. And it is a fun activity. But it is not at hedge fund levels. "Thousands" not "Billions".
And why do you come here ? You seem to complain about silver a lot, but that is all. I see no reason why you even bother.
.
Because gutter metal is not a precious metal. I know you are a bit slow and that's perfectly fine but the sooner you get that fact through your grape the better. I am glad you have and enjoy a hobby, everyone should have one. Which reminds me, did you finish the design for my "In Gutter We Trust" token yet? THKS!
Every definition of "precious metal" for the past 5,000 years disagrees with you regarding silver.
PS:
You never sent me a photo of yourself for the token.
Most of what I read here from the anti-Fed side is economic and financial nonsense.
If it's such nonsense, why are Goldman Sachs, BOA and UBS now jumping on the gold bandwagon without even mentioning the Fed policies that they've been complicit in? What happened to all of their other money-making ideas that no longer work?
No deposits, no loans, no deals and nothing left to suck out of the public with financialization and derivatives plays?
They talk from both sides of their mouths and expect their clients to follow along like sheep. Creating money from nothing and charging cash-strapped clients interest on it no longer works. The parasites have managed to kill their host.
"Gold is money, all else is credit." The bankers have known this all along, while they've fed everyone else a bogus fairy tale about prosperity via paper promises, debt and interest payments.
Now, they'll want everyone under their thumbs in debt with CBCDs in a cashless society. Don't play along.
Q: Are You Printing Money? Bernanke: Not Literally
@tincup said:
Given the news tonight.... guess we will see what happens to gold (and silver) come Sunday night - Monday. A very touchy world situation.
Best guess is the futures markets will all be red Sunday night. Even safe havens like gold will be down at first because of paper selling to cover leveraged bets in the equities markets. Then come Monday, gold should retrace its highs and beyond.
@tincup said:
Given the news tonight.... guess we will see what happens to gold (and silver) come Sunday night - Monday. A very touchy world situation.
Best guess is the futures markets will all be red Sunday night. Even safe havens like gold will be down at first because of paper selling to cover leveraged bets in the equities markets. Then come Monday, gold should retrace its highs and beyond.
The events clearly demonstrated the haves and have nots.
@derryb said:
Bankers/economic wizards got us into this mess. How are you guys going to get us out of it? Seriously, I'd like to >know.
Bankers and economic guys put the Social Security and Pension Ponzi schemes into place ?
Don't they finance and print money for such failures? Don't they lobby (and hold hostage) the elected officials who create the need to print more money? One could successfully argue that bankers rule the world economy. If true, isn't the state of the economy their mess?
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
Actuaries and bankers - both benefit from skimming a percentage from large numbers of “clients”. Ponzi schemes, both.
The bankers are more egregious, collecting interest on “money” that they create out of thin air, and loaning it out to people who don’t have the privilege of creating their own “money” from thin air.
Something needs to change.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 - regarding actuaries, are you saying that insurance is a useless scam that provides no value to society? Do you think the actuarial profession and actuaries are lacking in integrity? Have you ever worked with an actuary?
However, actuaries & bankers both use stats to enable their operations to skim from their clientele. That’s just their business model - not much different than a typical pyramid scheme.
How do you think the monuments to the insurance industry get funded and built if they aren’t making over & above what’s needed to cover their clients’ claims?
Not actuaries so much as the top brass, but similar to most large organizations where politics usually trump skills & knowledge.
That’s why getting away from the system isn’t such a bad idea if you can manage to do it.
No, I’ve never worked with an actuary. Tell me all about it.
Q: Are You Printing Money? Bernanke: Not Literally
You said "Actuaries and bankers - both benefit from skimming a percentage from large numbers of “clients”. Ponzi schemes, both."
If you think actuaries are in effect constructing Ponzi schemes, then you of course are very wrong, but you are saying that actuaries are scammers, since Ponzi schemes are scams.
Both insurance and banking depend on making money throughs spreads, risk charges, and fees. You can call that skimming if you want, but the business model is not that much different from, say, an auction house that takes a 20 % cut, or any retail business that charges a mark up to cover expense and leave a profit.
As in any business (or life endeavor) some insurers are better than others; some banks are better than others. As a consumer, if you want to use these services, you can do the required research. If you don't, you can live an alternate lifestyle, which is purely your choice and I won't judge it!
Car insurance companies make so much money that they can afford to advertise on TV incessantly.
Since car insurance is mandatory here, I have to get it from someone. So I chose a company that does not advertise on TV.
Actuaries may not be running the insurance operations, but they are highly-paid technicians in a business model than depends on skimming percentages from large groups of people.
This was more than apparent when Obamacare was forced upon people for “benefits” that they would never need. I won’t chase this down a political rabbit hole, so let’s just agree to disagree.
Q: Are You Printing Money? Bernanke: Not Literally
@derryb said:
Don't they finance and print money for such failures? Don't they lobby (and hold hostage) the elected officials who >create the need to print more money? One could successfully argue that bankers rule the world economy. If true, >isn't the state of the economy their mess?
Yeah, bankers control the world.
That's why their market capitalizations are dwarfed by MSFT alone...why their compensation is a fraction of tech or other sectors....why their stocks have barely eaked out a positive gain in the last 20 years, let alone come close to matching the S&P 500.
If bankers control the world or politics or finance.....then the Chicago Bears are the gold standard for winning Super Bowls the last 10 or 15 years.
@derryb said:
Don't they finance and print money for such failures? Don't they lobby (and hold hostage) the elected officials who >create the need to print more money? One could successfully argue that bankers rule the world economy. If true, >isn't the state of the economy their mess?
Yeah, bankers control the world.
That's why their market capitalizations are dwarfed by MSFT alone...why their compensation is a fraction of tech or other sectors....why their stocks have barely eaked out a positive gain in the last 20 years, let alone come close to matching the S&P 500.
If bankers control the world or politics or finance.....then the Chicago Bears are the gold standard for winning Super Bowls the last 10 or 15 years.
Yet I've never met an unemployed banker or even one who was not well off.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
@derryb said:
Yet I've never met an unemployed banker or even one who was not well off.
I know lots of people who worked at Bear Stearns, Lehman Brothers, WaMu, and dozens of other banks over the years. Many never got another job in finance.
That's a fraction of the lobbying spent by other companies or industries. Public employee unions give BILLIONS each year.
Citibank got diluted to hell in 2008...their stock price is 1/10th the price 16 years ago. They paid back all their loans and still got diluted. Bank execs lost their jobs, salaries, and stock options.
The Teamsters CSPF got $36,000,000,000. No payback....no firings...no explanation of the shortfall.
You STILL want to talk about how corporations get special perks ? You have no idea of the problems cities and states are going to have....$2 trillion in unfunded pension and OPEB benefits.
@derryb said:
Yet I've never met an unemployed banker or even one who was not well off.
I know lots of people who worked at Bear Stearns, Lehman Brothers, WaMu, and dozens of other banks over the years. Many never got another job in finance.
Whose fault was that? I wouldn't hire them either.
Nonsense. The law had nothing to do with common-sense banking regulations.
The law attempted to restore some of the Glass Steagall protections that when initially removed (pushed by the banking lobby) eventually led to 08 crisis.
PBS is your source for financial news ?
I go where the links send me. You'd be surprised what reading differing opinions can mean. You should shut off CNBC and get out into the real world.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
Turns out that the more they revise the data the worse it gets.
"Blame government, which added just 8,000 jobs in April." So now we are depending on government jobs to boost our economy and deplete our tax dollars? lol
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
"in a tightly controlled, micromanaged financial dystopia, precious metals will become the only way to make private or off-grid transactions, making them more valuable than ever."
The same likely goes for Bitcoin but only if the lawmakers permit it.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
@derryb said:
The law attempted to restore some of the Glass Steagall protections that when initially removed (pushed by the > banking lobby) eventually led to 08 crisis.
G-S had NOTHING to do with the crisis of 2008. That was a result of lax mortgage underwriting....ENCOURAGED (mandated ?) by politicians using HUD and GSEs like Fannie and Freddie to give no-down or low-down subprime mortgages.
G-S has to do with commercial bank separation from investment bank activities and vice-versa.
I go where the links send me. You'd be surprised what reading differing opinions can mean. You should shut off > > >CNBC and get out into the real world.
CNBC, Bloomberg TV, and Fox BC ARE the real world. It's not BS by people with no skin in the game...no knowledge of finance or markets....and no education in the arena. Would you take medical advice from a guy who lays asphalt for a living ?
@derryb said:
The law attempted to restore some of the Glass Steagall protections that when initially removed (pushed by the > banking lobby) eventually led to 08 crisis.
G-S had NOTHING to do with the crisis of 2008. That was a result of lax mortgage underwriting....ENCOURAGED (mandated ?) by politicians using HUD and GSEs like Fannie and Freddie to give no-down or low-down subprime mortgages.
G-S has to do with commercial bank separation from investment bank activities and vice-versa.
And it was this separation that kept banks from in-house gambling with such things as derivatives. You do know that subprime mortgages were bundled into otherwise good sounding investments until they no longer were sound, right?
I go where the links send me. You'd be surprised what reading differing opinions can mean. You should shut off > > >CNBC and get out into the real world.
CNBC, Bloomberg TV, and Fox BC ARE the real world. It's not BS by people with no skin in the game...no knowledge of finance or markets....and no education in the arena. Would you take medical advice from a guy who lays asphalt for a living ?
No, nor would I take medical advice from a guy making a fortune on Chinese Biolabs. There is no real world when it comes to television news. Propaganda begins on the television, it would be nice to see it end there.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
So, you're saying that repeal of GS did not allow banks to also become "investment" firms and trade derivatives once GS was repealed? Do you deny that GS kept banks out of the trading business?. This conflict of interest brought the economy to its knees in 2008.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
Comments
Does running the finances for the family, paying the bills on time, not spending beyond our means and having a surplus at the end of the year count? LOL
Money and integrity are not rocket science regardless of what the FED and those who want you to pay them for financial advice would have you believe.
Everyone is a "money guy." Some are good at it and some are not. The ones who are good at it are fully qualified to talk about monetary policy and to comment on FED mismanagement.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
Have you ever worked anywhere besides your little bubble in finance and “Fed watching”? Have you ever worked where they actually produce something?
Have you ever lost a job because of a recession? Have you ever run a business in the real world? Have you ever had to meet a payroll?
“You guys” can’t see the forest for the trees.
I knew it would happen.
I think I saw Jmski and derry at a Holiday Inn once. HAHA
Knowledge is the enemy of fear
Most people can handle the finances for a family, some cannot. But no one can for 131 million, especially when those we hired to keep the house tidy keep breaking things. And very, very few are even willing to try. Unfortunately, most everyone thinks they know better.
Knowledge is the enemy of fear
That thar world wide web made every'ne 'n expert. If I seen it thar it must bee tru. 'Merica. RGDS!
The whole worlds off its rocker, buy Gold™.
.
That is false.
There are people here who have watched the Fed for quite some time, and analyze the Fed's past actions to great lengths.
.
.
When other people write about things that are not going well in the economy or society, you and your buddy usually pounce on them claiming that they are all "doom and gloom" and "bunker dwellers".
But your posts are among the most negative about people in general.
.
All the spectators at the opera are critics but none can sing.
Knowledge is the enemy of fear
And all that is true. The doom and gloomers have been proven incorrect time and time again.
Every single one of us has said "people are so dumb", as we are constantly witness to ignorance and weakness among ourselves throughout society.
Knowledge is the enemy of fear
I did a paper on Breton Woods in 1968, but GF doesn’t think anyone else but himself knows Jack about monetary policy, hah.
I knew it would happen.
I used to show horses as a kid so I'm qualified to be a cowboy.
Knowledge is the enemy of fear
Before your time…………your naivity might be excusable in some instances, but you should know better by now.
Have you ever run a going concern, or have you always made a living in “finance”?
I knew it would happen.
Jmski52 asked:
Have you ever worked where they actually produce something?
Have you ever lost a job because of a recession? Have you ever run a business in the real world? Have you ever had to meet a payroll?
Yes, to all three questions. Just like life, some days are better than others.
The worst of the three was sitting in my Controller’s office developing a plan for payroll. We got through it, never missed a bill or payroll, but it sucked for awhile.
Interesting and humorous read... I see that the Opera button was pushed and everyone seems to have survived...
Experience the World through Numismatics...it's more than you can imagine.
Yes, no.
17 employees
Traded billions.
Redneck hillbilly.
Knowledge is the enemy of fear
.
You must not have been very successful, otherwise you wouldn't be spending your time on forums such as this.
.
Ditto. LULZ!
The whole worlds off its rocker, buy Gold™.
.
If someone actually "traded billions" and was successful at it, wouldn't they be like a hedge fund manager on a big yacht somewhere ?
I have not "traded billions". I come here because I like coins, ingots, and collecting. It is a hobby. As a one-man operation with no employees or outside investors, I have been reasonably successful. And it is a fun activity. But it is not at hedge fund levels. "Thousands" not "Billions".
And why do you come here ? You seem to complain about silver a lot, but that is all. I see no reason why you even bother.
.
One can do a lot in 40 years. Perhaps success is what allows one to spend a little time on forums like this.
Why are you so negative on people?
Knowledge is the enemy of fear
You obviously don't understand context. I didn't say billions was one transaction. Again, one can do a lot in 40 years. Your contempt of some blinds your common sense.
To the point jmski and Goldfinger are bantering about....
I have a friend that sells about $30 million in real estate per year. She's been doing it for 40 years. That's over $1 billion in sales. One could reasonably consider she understands her market (real estate better than someone who wrote a term-paper 50 years ago.
I like coins and bullion also and I subscribe to some the narrative. I also see a lot of potential in folk if they would just stop being so weak and therefore controlled and manipulated.
Knowledge is the enemy of fear
Copying Cliff or Monarch notes doesn't count.
If you understand open market operations, Fed policies and the banking cycle, great.
Most of what I read here from the anti-Fed side is economic and financial nonsense.
Because gutter metal is not a precious metal. I know you are a bit slow and that's perfectly fine but the sooner you get that fact through your grape the better. I am glad you have and enjoy a hobby, everyone should have one. Which reminds me, did you finish the design for my "In Gutter We Trust" token yet? THKS!
The whole worlds off its rocker, buy Gold™.
I'm anti-FED, it's no secret. My opinions about higher inflation, lower dollar purchasing power, the reflection of both in higher PM prices and the dying use of dollars abroad are apparently BS. LOL
Bankers/economic wizards got us into this mess. How are you guys going to get us out of it? Seriously, I'd like to know.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
Given the news tonight.... guess we will see what happens to gold (and silver) come Sunday night - Monday. A very touchy world situation.
I'm by no means a financial expert and recognize the Fed and U.S. government have tools at their disposal that the normal family, business and even states don't have at their disposal. No family or business could survive if they practice the financial policies of the federal government. Some states would have probably gone bankrupt but for the ability of the federal government to bail them out. That said some of the experts are saying and what we novices know instinctively is there is a lot of pain in store for the U.S. population. Will the U.S. government, Fed and the uber wealthy survive? Of course because the pain for their idiotic financial practices will be transferred to the general population.
Every definition of "precious metal" for the past 5,000 years disagrees with you regarding silver.
PS:
You never sent me a photo of yourself for the token.
Most of what I read here from the anti-Fed side is economic and financial nonsense.
If it's such nonsense, why are Goldman Sachs, BOA and UBS now jumping on the gold bandwagon without even mentioning the Fed policies that they've been complicit in? What happened to all of their other money-making ideas that no longer work?
No deposits, no loans, no deals and nothing left to suck out of the public with financialization and derivatives plays?
They talk from both sides of their mouths and expect their clients to follow along like sheep. Creating money from nothing and charging cash-strapped clients interest on it no longer works. The parasites have managed to kill their host.
"Gold is money, all else is credit." The bankers have known this all along, while they've fed everyone else a bogus fairy tale about prosperity via paper promises, debt and interest payments.
Now, they'll want everyone under their thumbs in debt with CBCDs in a cashless society. Don't play along.
I knew it would happen.
Best guess is the futures markets will all be red Sunday night. Even safe havens like gold will be down at first because of paper selling to cover leveraged bets in the equities markets. Then come Monday, gold should retrace its highs and beyond.
Indian Head $10 Gold Date Set Album
The events clearly demonstrated the haves and have nots.
Knowledge is the enemy of fear
Bankers and economic guys put the Social Security and Pension Ponzi schemes into place ?
Don't they finance and print money for such failures? Don't they lobby (and hold hostage) the elected officials who create the need to print more money? One could successfully argue that bankers rule the world economy. If true, isn't the state of the economy their mess?
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
Actuaries and bankers - both benefit from skimming a percentage from large numbers of “clients”. Ponzi schemes, both.
The bankers are more egregious, collecting interest on “money” that they create out of thin air, and loaning it out to people who don’t have the privilege of creating their own “money” from thin air.
Something needs to change.
I knew it would happen.
@jmski52 - regarding actuaries, are you saying that insurance is a useless scam that provides no value to society? Do you think the actuarial profession and actuaries are lacking in integrity? Have you ever worked with an actuary?
I said nothing of the sort.
However, actuaries & bankers both use stats to enable their operations to skim from their clientele. That’s just their business model - not much different than a typical pyramid scheme.
How do you think the monuments to the insurance industry get funded and built if they aren’t making over & above what’s needed to cover their clients’ claims?
Not actuaries so much as the top brass, but similar to most large organizations where politics usually trump skills & knowledge.
That’s why getting away from the system isn’t such a bad idea if you can manage to do it.
No, I’ve never worked with an actuary. Tell me all about it.
I knew it would happen.
@jmski52 said "I said nothing of the sort."
Actually, you did.
You said "Actuaries and bankers - both benefit from skimming a percentage from large numbers of “clients”. Ponzi schemes, both."
If you think actuaries are in effect constructing Ponzi schemes, then you of course are very wrong, but you are saying that actuaries are scammers, since Ponzi schemes are scams.
Both insurance and banking depend on making money throughs spreads, risk charges, and fees. You can call that skimming if you want, but the business model is not that much different from, say, an auction house that takes a 20 % cut, or any retail business that charges a mark up to cover expense and leave a profit.
As in any business (or life endeavor) some insurers are better than others; some banks are better than others. As a consumer, if you want to use these services, you can do the required research. If you don't, you can live an alternate lifestyle, which is purely your choice and I won't judge it!
Car insurance companies make so much money that they can afford to advertise on TV incessantly.
Since car insurance is mandatory here, I have to get it from someone. So I chose a company that does not advertise on TV.
Actuaries may not be running the insurance operations, but they are highly-paid technicians in a business model than depends on skimming percentages from large groups of people.
This was more than apparent when Obamacare was forced upon people for “benefits” that they would never need. I won’t chase this down a political rabbit hole, so let’s just agree to disagree.
I knew it would happen.
Yeah, bankers control the world.
That's why their market capitalizations are dwarfed by MSFT alone...why their compensation is a fraction of tech or other sectors....why their stocks have barely eaked out a positive gain in the last 20 years, let alone come close to matching the S&P 500.
If bankers control the world or politics or finance.....then the Chicago Bears are the gold standard for winning Super Bowls the last 10 or 15 years.
I manage my position IAK, it's been ok the past 6 mos.
Yet I've never met an unemployed banker or even one who was not well off.
Commercial banking spent $62+ Million lobbying in 2023. They would not be spending this money if the return was not worth it.
Hundreds of lobbyists pushed government to water down banking regulations "to roll back portions of a far-reaching 2010 law intended to prevent a future financial crisis."
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
I know lots of people who worked at Bear Stearns, Lehman Brothers, WaMu, and dozens of other banks over the years. Many never got another job in finance.
That's a fraction of the lobbying spent by other companies or industries. Public employee unions give BILLIONS each year.
Citibank got diluted to hell in 2008...their stock price is 1/10th the price 16 years ago. They paid back all their loans and still got diluted. Bank execs lost their jobs, salaries, and stock options.
The Teamsters CSPF got $36,000,000,000. No payback....no firings...no explanation of the shortfall.
You STILL want to talk about how corporations get special perks ? You have no idea of the problems cities and states are going to have....$2 trillion in unfunded pension and OPEB benefits.
Nonsense. The law had nothing to do with common-sense banking regulations.
PBS is your source for financial news ?
Whose fault was that? I wouldn't hire them either.
The law attempted to restore some of the Glass Steagall protections that when initially removed (pushed by the banking lobby) eventually led to 08 crisis.
I go where the links send me. You'd be surprised what reading differing opinions can mean. You should shut off CNBC and get out into the real world.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
April Payrolls Debacle: Biggest Miss Since 2021 As Unemployment Rate Rises
Turns out that the more they revise the data the worse it gets.
"Blame government, which added just 8,000 jobs in April." So now we are depending on government jobs to boost our economy and deplete our tax dollars? lol
'Buy All The Things' - Poor Payrolls Sends Rate-Cut Hopes Soaring
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
What Will CBDCs Mean For Gold?
"in a tightly controlled, micromanaged financial dystopia, precious metals will become the only way to make private or off-grid transactions, making them more valuable than ever."
The same likely goes for Bitcoin but only if the lawmakers permit it.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
G-S had NOTHING to do with the crisis of 2008. That was a result of lax mortgage underwriting....ENCOURAGED (mandated ?) by politicians using HUD and GSEs like Fannie and Freddie to give no-down or low-down subprime mortgages.
G-S has to do with commercial bank separation from investment bank activities and vice-versa.
CNBC, Bloomberg TV, and Fox BC ARE the real world. It's not BS by people with no skin in the game...no knowledge of finance or markets....and no education in the arena. Would you take medical advice from a guy who lays asphalt for a living ?
The markets loved the April NFP report, not sure who you are listening to. We've had bigger misses since 2021 so that is wrong, too.
The seasonal adjustment factors reduced the numbers.
And it was this separation that kept banks from in-house gambling with such things as derivatives. You do know that subprime mortgages were bundled into otherwise good sounding investments until they no longer were sound, right?
No, nor would I take medical advice from a guy making a fortune on Chinese Biolabs. There is no real world when it comes to television news. Propaganda begins on the television, it would be nice to see it end there.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
You don't even have your facts straight. Banks have used derivatives going back to the 1930's. Has NOTHING to do with G-S.
You need more accurate sources of information, Derb.
So, you're saying that repeal of GS did not allow banks to also become "investment" firms and trade derivatives once GS was repealed? Do you deny that GS kept banks out of the trading business?. This conflict of interest brought the economy to its knees in 2008.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto