What's the fallout? Dcarr added that the British pound lost reserve currency status. What was the fallout?
Britain and its currency once ruled much of the world with colonies and trade dominance around the globe. It has since lost it's empire and has taken a back seat to the US in world affairs. Britain has been relegated the role of the lapdog for the US. Is that enough fallout for ya?
Not really. What did this mean for Joe six pack Londoner?
Would you want to get bit by that lap dog?
pretty sure that more than just one Englishman benefited from Britain's demise.
What's the fallout? Dcarr added that the British pound lost reserve currency status. What was the fallout?
Britain and its currency once ruled much of the world with colonies and trade dominance around the globe. It has since lost it's empire and has taken a back seat to the US in world affairs. Britain has been relegated the role of the lapdog for the US. Is that enough fallout for ya?
Not really. What did this mean for Joe six pack Londoner?
Would you want to get bit by that lap dog?
pretty sure that more than just one Englishman benefited from Britain's demise.
What is this demise you speak of?
loss of empire, loss of world dominance
Again, what is the demise?
Or, what is that fallout of "loss of empire, loss of world dominance"?
What countries dominate Great Britain?
Still waiting on jmski's answer to the "fallout" he predicts.
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
.
It all boils down to one term, "stagflation", which is the mechanism by which standards of living decline.
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
So you're saying if the BRICs coalesce and don't use the US Dollar, all of the above will result?
Can you tell me why, if the Dollar lost reserve status, that treasury bond auctions would fail?
Why deficit spending would increase?
Why interest rates would go higher?
Why business investment would be crowded out?
Why the financial system would fail?
Why do you subscribe to this great taking" narrative? I watched the video and thought it to be quite fantastical.
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
LOL you guys for decades have sat here talking about the great collapse of everything all the while all my investment accounts continue to reach all time highs. Heck even my gold hit an all time high. And then of course the gutter metal that you continually try to pump is half of what it was 15 years ago. You can't make this stuff up. RGDS!
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
So you're saying if the BRICs coalesce and don't use the US Dollar, all of the above will result?
Can you tell me why, if the Dollar lost reserve status, that treasury bond auctions would fail?
Why deficit spending would increase?
Why interest rates would go higher?
Why business investment would be crowded out?
Why the financial system would fail?
Why do you subscribe to this great taking" narrative? I watched the video and thought it to be quite fantastical.
.
All questions and no answers, as usual.
Maybe try contributing something of substance instead.
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
LOL you guys for decades have sat here talking about the great collapse of everything all the while all my investment accounts continue to reach all time highs. Heck even my gold hit an all time high. And then of course the gutter metal that you continually try to pump is half of what it was 15 years ago. You can't make this stuff up. RGDS!
.
You have stated the same thing, in various ways, at least 100 times on this forum.
If you are looking for approval and/or accolades, I don't think you are going to get any this way, especially on this forum.
Can you tell me why, if the Dollar lost reserve status, that treasury bond auctions would fail?
Loss of reserve status is not an overnight event. It is slow and gradual as is currently being demonstrated. Treasury auctions are already falling with foreign creditors. Weaponizing the dollar (as demonstrated with Washington's hate of Russia) has expedited the loss of buyers. Recent sanctions and the theft of dollars from countries we do not like has put fear in many other nations who, while on the good side with the US, fear getting on the bad side. Weaponization of the dollar was a very big nail in the dollar reserve status coffin. History will show that it was the straw that broke the camel's back. I wouldn't trust the idiots running the dollar show to balance my checkbook.
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
LOL you guys for decades have sat here talking about the great collapse of everything all the while all my investment accounts continue to reach all time highs. Heck even my gold hit an all time high. And then of course the gutter metal that you continually try to pump is half of what it was 15 years ago. You can't make this stuff up. RGDS!
.
You have stated the same thing, in various ways, at least 100 times on this forum.
If you are looking for approval and/or accolades, I don't think you are going to get any this way, especially on this forum.
.
Exit your bunker and get some sun. The sky is not falling. Living a life of doom and gloom isn't healthy for your soul. THKS!
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
LOL you guys for decades have sat here talking about the great collapse of everything all the while all my investment accounts continue to reach all time highs. Heck even my gold hit an all time high. And then of course the gutter metal that you continually try to pump is half of what it was 15 years ago. You can't make this stuff up. RGDS!
.
You have stated the same thing, in various ways, at least 100 times on this forum.
If you are looking for approval and/or accolades, I don't think you are going to get any this way, especially on this forum.
.
Exit your bunker and get some sun. The sky is not falling. Living a life of doom and gloom isn't healthy for your soul. THKS!
Exit your bunker and get some sun. The sky is not falling. Living a life of doom and gloom isn't healthy for your soul. THKS!
Risk assessment (look it up) is far from being in a bunker. It is about being prepared for the unexpected as well as the likely to happen. Hopefully there's room for you in the chicken coop when things you refused to consider suddenly occur. Be sure to post a pic of you living with the hens when/if the time comes.
Exit your bunker and get some sun. The sky is not falling. Living a life of doom and gloom isn't healthy for your soul. THKS!
Risk assessment (look it up) is far from being in a bunker. It is about being prepared for the unexpected as well as the likely to happen. Hopefully there's room for you in the chicken coop when things you refused to consider suddenly occur. Be sure to post a pic of you living with the hens when/if the time comes.
I'll be living amongst my people. You city chickens don't have a clue. RGDS!
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
So you're saying if the BRICs coalesce and don't use the US Dollar, all of the above will result?
Can you tell me why, if the Dollar lost reserve status, that treasury bond auctions would fail?
Why deficit spending would increase?
Why interest rates would go higher?
Why business investment would be crowded out?
Why the financial system would fail?
Why do you subscribe to this great taking" narrative? I watched the video and thought it to be quite fantastical.
.
All questions and no answers, as usual.
Maybe try contributing something of substance instead.
.
Then answer them. You won't, because you can't.
If I make a comment, and later asked why, I provide a logical and reasoned answer. Others on this forum, especially j and d just respond something to the effect of "because". They can't answer more because their handlers haven't given them the answers, mostly because their handlers don't know the answers. Their intent is to foment contempt and anger, which they do quite well. This is the "fallout" you should be concerned about.
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
So you're saying if the BRICs coalesce and don't use the US Dollar, all of the above will result?
Can you tell me why, if the Dollar lost reserve status, that treasury bond auctions would fail?
Why deficit spending would increase?
Why interest rates would go higher?
Why business investment would be crowded out?
Why the financial system would fail?
Why do you subscribe to this great taking" narrative? I watched the video and thought it to be quite fantastical.
.
All questions and no answers, as usual.
Maybe try contributing something of substance instead.
.
Then answer them. You won't, because you can't.
If I make a comment, and later asked why, I provide a logical and reasoned answer. Others on this forum, especially j and d just respond something to the effect of "because". They can't answer more because their handlers haven't given them the answers, mostly because their handlers don't know the answers. Their intent is to foment contempt and anger, which they do quite well. This is the "fallout" you should be concerned about.
.
You apparently won't answer the simple question of what are your credentials, what do you do for a living, who you work for, or what are your positions in the markets.
You don't seem to like or agree with a lot of the posts on this forum. Maybe try and make your "rebuttals" have more substantial content and not just questions about the post or comments or questions about the poster.
@jmski52 said:
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
So you're saying if the BRICs coalesce and don't use the US Dollar, all of the above will result?
Can you tell me why, if the Dollar lost reserve status, that treasury bond auctions would fail?
Why deficit spending would increase?
Why interest rates would go higher?
Why business investment would be crowded out?
Why the financial system would fail?
Why do you subscribe to this great taking" narrative? I watched the video and thought it to be quite fantastical.
.
All questions and no answers, as usual.
Maybe try contributing something of substance instead.
.
Then answer them. You won't, because you can't.
If I make a comment, and later asked why, I provide a logical and reasoned answer. Others on this forum, especially j and d just respond something to the effect of "because". They can't answer more because their handlers haven't given them the answers, mostly because their handlers don't know the answers. Their intent is to foment contempt and anger, which they do quite well. This is the "fallout" you should be concerned about.
.
You apparently won't answer the simple question of what are your credentials, what do you do for a living, who you work for, or what are your positions in the markets.
You don't seem to like or agree with a lot of the posts on this forum. Maybe try and make your "rebuttals" have more substantial content and not just questions about the post or comments or questions about the poster.
.
I like and agree to many posts on this forum. I think I've even agreed or liked a comment or two of yours. I was probably drunk. Lol
You're questions are irrelevant. As ive stated several times, i'm just a redneck hillbilly from a commonwealth. How bout dem credentials?
So you're saying if the BRICs coalesce and don't use the US Dollar, all of the above will result?
Those things are already happening to one degree or another.
Why do you subscribe to this great taking" narrative? I watched the video and thought it to be quite fantastical.
But is it accurate and true?
Either you didn’t watch the interview on usawatchdog.com (January archive) or the video that David Webb published on rumble, or you are so emeshed in the system that you will believe anything that Bloomberg, or CNBC, or Fox Business puts out as propaganda by the Fed and Wall Street.
Understand it or pretend that you don’t - either way, I think it’s naive on your part to think that you’re insulated by the job you have or the people that you work for (who shall remain nameless….and why is that anyway?)
The legal framework is already in place (in the Uniform Commercial Code in all 50 states) that there are no segregated accounts and if a clearing house fails because of the massive derivative exposure in the system, ALL of the financial assets being held by that entity are aggregated together and are subject to a lengthy forfeiture process with both institutional and individual assets being subordinated to being very last claimants in bankruptcy.
Which means that those assets are taken first to satisfy the clearing house’s liabilities (and those liabilities are in aggregated in the $trillions or $quadrillions, I.e., practically infinite) of the derivatives holdings within the clearing house.
The laws are already on the books that bank deposits are legally a loan to the bank and that depositors are unsecured creditors in the event of a bank failure.
In other words, “you will own nothing” when it comes to bank deposits, mutual funds, ETFs, retirement accounts, stocks and bonds. “You will own nothing….and be happy”
Your questions are irrelevant. As ive stated several times, i'm just a redneck hillbilly from a commonwealth. How bout dem credentials?
Au contraire. A mocking type answer such as this is just another smokescreen to hide your motivations and to avoid giving the reader a reason to believe anything that you post, or not. Why not make this conversation more straightforward, if you indeed have a valid point to make?
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said: So you're saying if the BRICs coalesce and don't use the US Dollar, all of the above will result?
Those things are already happening to one degree or another.
Why do you subscribe to this great taking" narrative? I watched the video and thought it to be quite fantastical.
But is it accurate and true?
No.
Either you didn’t watch the interview on usawatchdog.com (January archive) or the video that David Webb published on rumble, or you are so emeshed in the system that you will believe anything that Bloomberg, or CNBC, or Fox Business puts out as propaganda by the Fed and Wall Street.
Saw it on YouTube.
In other words, “you will own nothing” when it comes to bank deposits, mutual funds, ETFs, retirement accounts, stocks and bonds. “You will own nothing….and be happy”
No one is taking all your stuff. To believe so illustrates lack of understanding of the system and especially of social response.
>
Credentials mean nothing...just look at the leaders we've selected recently.
@jmski52 said:
Greg Hunter doesn't have a YouTube channel, so you didn't watch the interview. If you did watch anything that David Webb has on YouTube, so be it.
That ought to be enough to enlighten even you. Either way, it's not worth arguing you on this forum.
Yes. Better to discuss in an echo chamber where weak folk discuss weak narratives and aren't called out to explain their malinformed opinions. What a glorious prison.
There's no argument. I'm just asking you to explain your position, you can't, so you just want to take you ball and go home. And that's America today.
Back on topic.....China didn't buy any gold last month.
I watched the video. You watched an interview of the video. Interviews by nature are a controlled and manipulated setting.
Yes, this apparently is the end of the story since I asked you to expand on your contention and you just reoterated the narratives talking points while offering no depth of substance. Hey, that's what we are these days, I get it. So yes, end of story because you can't continue it further.
And why do you care how nay Treuasury bonds China buys? American individuals and entities are eager and willing to buy and buy and buy.
You didn't watch the interview, and yet you make prejudgments about the content.
The BRICS have just started playing footsie with the BIS and the CBDC is on track to happen sooner. That should make the banking cabal excited.
For those of you who think for yourselves and don't believe the Wall Street propaganda - get out of debt, get your money out of the banking system and get as far away as possible from paper assets, including what's in your 401K & IRA accounts.
Q: Are You Printing Money? Bernanke: Not Literally
The BRICS will still use the dollar for international settlement and in cases where using their own currency or the BRICS basket of commodities / blockchain currency is more favorable, they will adopt the new payment system that is outside of the SWIFT system.
I'm not going to pretend I understand everything you guys are arguing back and forth about, and I don't buy into the extremes on either side (i.e. I don't believe all of my assets, stocks, bonds, bank accounts are going to just disappear one day, but I also realize a lot of things can happen/go wrong). With that said, after reading the latest updates in this thread I did find it interesting to read this article recently posted on CNBC, "Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown". https://www.cnbc.com/2024/06/07/synapse-bankruptcy-trustee-85-million-of-customer-savings-is-missing.html
@blitzdude said:
Wonder if I should believe Reuters or this twitter kingkong guy? lol THKS!
They can both be right. Reuters reports on data showing Chinese buying slowed/paused. Eric (KingKing on X) highlighted comments from folks connected to the Chinese trading that the reason trading slowed is because of supply chain issues restricting supply.
Eric is a good follow on X for the pulse on China's gold trade FWIW. $.02
By end of July Saudi Arabia is expected to announce that it will cease all oil sales in US dollars, marking the end of the 50-year Petrodollar Pact signed on June 6, 1974, which expires on June 9, 2024.
Dollar Index (DXY) does not measure the dollar's strength for those that use it and depend on its strength:
Jim Rickards - "When the price of gold increases, it means the dollar is getting weaker."
DXY only compares dollars to a basket of other currencies which are currently much weaker than the dollar. Note that gold is not included in this comparison.
"Is leverage and arbitrage the reason why the yield curve has remained inverted for one of the longest periods in history?"
When the Treasury Department sells an IOU, they’re promising to pay nothing but dollars. And the Federal Reserve can print an infinite number of dollars. Question is, "what will the future repayment in dollars be worth?" Got dollar insurance.
As some of us have been trying to tell the dollar diehards, the dollar is dying on the world stage. What that will mean on the home front is simple - dollar decay. Got dollar insurance?
@derryb said:
By end of July Saudi Arabia is expected to announce that it will cease all oil sales in US dollars, marking the end of the 50-year Petrodollar Pact signed on June 6, 1974, which expires on June 9, 2024.
A lot has changed in the oil business since 1974. Thanks to the shale revolution the US is now a net exporter of oil, so why would SA continue the petrodollar agreement (other than we help protect them, but that is another discussion). While oil may no longer be priced exclusively in US dollars I highly doubt SA will announce completely severing ties with the US or our dollars, unless they are dumber than I think.
As some of us have been trying to tell the dollar diehards, the dollar is dying on the world stage. What that will mean on the home front is simple - dollar decay. Got dollar insurance?
Russia's move to stop trading was not voluntary....
Comments
No currency in the history of mankind has remained the "dominant" world currency. TRUE
What is certain is the world's next reserve currency certainly won't be courtesy of the BRICS. UNCERTAIN
God Bless America! RGDS! TRUE
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
loss of empire, loss of world dominance
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
Again, what is the demise?
Or, what is that fallout of "loss of empire, loss of world dominance"?
What countries dominate Great Britain?
Still waiting on jmski's answer to the "fallout" he predicts.
Knowledge is the enemy of fear
The one that pushed her aside.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
Fallout = failed bond auctions = Treasury buying their own debt = debt monetization = inflation, exponential deficit spending, higher interest rates, crowding out of business investment causing loss of jobs, possible collapse of the financial system, and financial services sector mass layoffs.
Get your money out of the banking system AND stocks & bonds - if you don’t want to be an unsecured creditor in “The Great Taking”. The laws are already in place to screw you, and you won’t enjoy it.
I knew it would happen.
.
It all boils down to one term, "stagflation", which is the mechanism by which standards of living decline.
.
So you're saying if the BRICs coalesce and don't use the US Dollar, all of the above will result?
Can you tell me why, if the Dollar lost reserve status, that treasury bond auctions would fail?
Why deficit spending would increase?
Why interest rates would go higher?
Why business investment would be crowded out?
Why the financial system would fail?
Why do you subscribe to this great taking" narrative? I watched the video and thought it to be quite fantastical.
Knowledge is the enemy of fear
Only one? To what side did she go?
Knowledge is the enemy of fear
LOL you guys for decades have sat here talking about the great collapse of everything all the while all my investment accounts continue to reach all time highs. Heck even my gold hit an all time high. And then of course the gutter metal that you continually try to pump is half of what it was 15 years ago. You can't make this stuff up. RGDS!
The whole worlds off its rocker, buy Gold™.
.
All questions and no answers, as usual.
Maybe try contributing something of substance instead.
.
.
You have stated the same thing, in various ways, at least 100 times on this forum.
If you are looking for approval and/or accolades, I don't think you are going to get any this way, especially on this forum.
.
Loss of reserve status is not an overnight event. It is slow and gradual as is currently being demonstrated. Treasury auctions are already falling with foreign creditors. Weaponizing the dollar (as demonstrated with Washington's hate of Russia) has expedited the loss of buyers. Recent sanctions and the theft of dollars from countries we do not like has put fear in many other nations who, while on the good side with the US, fear getting on the bad side. Weaponization of the dollar was a very big nail in the dollar reserve status coffin. History will show that it was the straw that broke the camel's back. I wouldn't trust the idiots running the dollar show to balance my checkbook.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
Exit your bunker and get some sun. The sky is not falling. Living a life of doom and gloom isn't healthy for your soul. THKS!
The whole worlds off its rocker, buy Gold™.
.
101
.
Risk assessment (look it up) is far from being in a bunker. It is about being prepared for the unexpected as well as the likely to happen. Hopefully there's room for you in the chicken coop when things you refused to consider suddenly occur. Be sure to post a pic of you living with the hens when/if the time comes.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
I'll be living amongst my people. You city chickens don't have a clue. RGDS!
The whole worlds off its rocker, buy Gold™.
Because it was supplanted by the U.S. and they lost their dynamism. Not so with the U.S.
Magnificent 7 > Fake Empire
Then answer them. You won't, because you can't.
If I make a comment, and later asked why, I provide a logical and reasoned answer. Others on this forum, especially j and d just respond something to the effect of "because". They can't answer more because their handlers haven't given them the answers, mostly because their handlers don't know the answers. Their intent is to foment contempt and anger, which they do quite well. This is the "fallout" you should be concerned about.
Knowledge is the enemy of fear
.
You apparently won't answer the simple question of what are your credentials, what do you do for a living, who you work for, or what are your positions in the markets.
You don't seem to like or agree with a lot of the posts on this forum. Maybe try and make your "rebuttals" have more substantial content and not just questions about the post or comments or questions about the poster.
.
I like and agree to many posts on this forum. I think I've even agreed or liked a comment or two of yours. I was probably drunk. Lol
You're questions are irrelevant. As ive stated several times, i'm just a redneck hillbilly from a commonwealth. How bout dem credentials?
Knowledge is the enemy of fear
So you're saying if the BRICs coalesce and don't use the US Dollar, all of the above will result?
Those things are already happening to one degree or another.
Why do you subscribe to this great taking" narrative? I watched the video and thought it to be quite fantastical.
But is it accurate and true?
Either you didn’t watch the interview on usawatchdog.com (January archive) or the video that David Webb published on rumble, or you are so emeshed in the system that you will believe anything that Bloomberg, or CNBC, or Fox Business puts out as propaganda by the Fed and Wall Street.
Understand it or pretend that you don’t - either way, I think it’s naive on your part to think that you’re insulated by the job you have or the people that you work for (who shall remain nameless….and why is that anyway?)
The legal framework is already in place (in the Uniform Commercial Code in all 50 states) that there are no segregated accounts and if a clearing house fails because of the massive derivative exposure in the system, ALL of the financial assets being held by that entity are aggregated together and are subject to a lengthy forfeiture process with both institutional and individual assets being subordinated to being very last claimants in bankruptcy.
Which means that those assets are taken first to satisfy the clearing house’s liabilities (and those liabilities are in aggregated in the $trillions or $quadrillions, I.e., practically infinite) of the derivatives holdings within the clearing house.
The laws are already on the books that bank deposits are legally a loan to the bank and that depositors are unsecured creditors in the event of a bank failure.
In other words, “you will own nothing” when it comes to bank deposits, mutual funds, ETFs, retirement accounts, stocks and bonds. “You will own nothing….and be happy”
Your questions are irrelevant. As ive stated several times, i'm just a redneck hillbilly from a commonwealth. How bout dem credentials?
Au contraire. A mocking type answer such as this is just another smokescreen to hide your motivations and to avoid giving the reader a reason to believe anything that you post, or not. Why not make this conversation more straightforward, if you indeed have a valid point to make?
I knew it would happen.
No.
Saw it on YouTube.
No one is taking all your stuff. To believe so illustrates lack of understanding of the system and especially of social response.
>
Credentials mean nothing...just look at the leaders we've selected recently.
Knowledge is the enemy of fear
.
If that is true then your comments and opinions are of no value.
.
Saw it on YouTube.
It’s not on YouTube, so you didn’t really watch it.
No one is taking all your stuff. To believe so illustrates lack of understanding of the system and especially of social response.
Not yet, but the laws are in place, and you didn’t watch the video, or you lack the understanding yourself.
I knew it would happen.
Why? Redneck hillbillies are dumb? Stupid? Ignorant? Or are you dissing all folk from the commonwealths?
Knowledge is the enemy of fear
Your boy has a YouTube channel. Not only is his "documentary" on there, but also some of his other videos. You should watch. Why are you always wrong?
Knowledge is the enemy of fear
Greg Hunter doesn't have a YouTube channel, so you didn't watch the interview. If you did watch anything that David Webb has on YouTube, so be it.
That ought to be enough to enlighten even you. Either way, it's not worth arguing you on this forum.
I knew it would happen.
hard to enlighten when the lights are out
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
Yes. Better to discuss in an echo chamber where weak folk discuss weak narratives and aren't called out to explain their malinformed opinions. What a glorious prison.
There's no argument. I'm just asking you to explain your position, you can't, so you just want to take you ball and go home. And that's America today.
Back on topic.....China didn't buy any gold last month.
Knowledge is the enemy of fear
I explained my position quite well.
And you didn't watch the video when you said that you did. End of story.
China didn't buy any gold last month.
After 18 straight months of buying it. (And you believe what China reports? Wow.)
How many US Treasuries did China buy last month? There were plenty of them being issued - that's for sure.
I knew it would happen.
I watched the video. You watched an interview of the video. Interviews by nature are a controlled and manipulated setting.
Yes, this apparently is the end of the story since I asked you to expand on your contention and you just reoterated the narratives talking points while offering no depth of substance. Hey, that's what we are these days, I get it. So yes, end of story because you can't continue it further.
And why do you care how nay Treuasury bonds China buys? American individuals and entities are eager and willing to buy and buy and buy.
Knowledge is the enemy of fear
You didn't watch the interview, and yet you make prejudgments about the content.
The BRICS have just started playing footsie with the BIS and the CBDC is on track to happen sooner. That should make the banking cabal excited.
For those of you who think for yourselves and don't believe the Wall Street propaganda - get out of debt, get your money out of the banking system and get as far away as possible from paper assets, including what's in your 401K & IRA accounts.
I knew it would happen.
No.
The BRICS will still use the dollar for international settlement and in cases where using their own currency or the BRICS basket of commodities / blockchain currency is more favorable, they will adopt the new payment system that is outside of the SWIFT system.
I'm not going to pretend I understand everything you guys are arguing back and forth about, and I don't buy into the extremes on either side (i.e. I don't believe all of my assets, stocks, bonds, bank accounts are going to just disappear one day, but I also realize a lot of things can happen/go wrong). With that said, after reading the latest updates in this thread I did find it interesting to read this article recently posted on CNBC, "Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown". https://www.cnbc.com/2024/06/07/synapse-bankruptcy-trustee-85-million-of-customer-savings-is-missing.html
Philippians 4:4-7
FWIW:
https://x.com/KingKong9888/status/1799084109375111310
Yelling at clouds on pmbug.com
https://www.reuters.com/markets/commodities/gold-prices-dip-china-central-bank-holds-off-buying-2024-06-07/
Knowledge is the enemy of fear
Wonder if I should believe Reuters or this twitter kingkong guy? lol THKS!
The whole worlds off its rocker, buy Gold™.
They can both be right. Reuters reports on data showing Chinese buying slowed/paused. Eric (KingKing on X) highlighted comments from folks connected to the Chinese trading that the reason trading slowed is because of supply chain issues restricting supply.
Eric is a good follow on X for the pulse on China's gold trade FWIW. $.02
Yelling at clouds on pmbug.com
And why can’t they both be true? Rooter says they didn’t buy Twitter guy says they didn’t buy because they couldn’t get it.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
NEM pulls over 1/2 a ton out of the ground every day. Maybe they just need to look harder, or they think they've run the price high enough already?
Knowledge is the enemy of fear
or maybe they wanted to lower the price
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
By end of July Saudi Arabia is expected to announce that it will cease all oil sales in US dollars, marking the end of the 50-year Petrodollar Pact signed on June 6, 1974, which expires on June 9, 2024.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
Dollar Index (DXY) does not measure the dollar's strength for those that use it and depend on its strength:
Jim Rickards - "When the price of gold increases, it means the dollar is getting weaker."
DXY only compares dollars to a basket of other currencies which are currently much weaker than the dollar. Note that gold is not included in this comparison.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
History shows us that Long Term Capital Management blew up because it was leveraging its bad bets 30-1.
Is the same thing about to happen with US Treasury bills?
"Is leverage and arbitrage the reason why the yield curve has remained inverted for one of the longest periods in history?"
When the Treasury Department sells an IOU, they’re promising to pay nothing but dollars. And the Federal Reserve can print an infinite number of dollars. Question is, "what will the future repayment in dollars be worth?" Got dollar insurance.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
Saudi Arabia joins BRICS, ends petrodollar agreement, what this means for gold and for the dollar.
As some of us have been trying to tell the dollar diehards, the dollar is dying on the world stage. What that will mean on the home front is simple - dollar decay. Got dollar insurance?
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
A lot has changed in the oil business since 1974. Thanks to the shale revolution the US is now a net exporter of oil, so why would SA continue the petrodollar agreement (other than we help protect them, but that is another discussion). While oil may no longer be priced exclusively in US dollars I highly doubt SA will announce completely severing ties with the US or our dollars, unless they are dumber than I think.
Philippians 4:4-7
https://www.marketwatch.com/story/reports-of-the-petrodollar-systems-demise-are-fake-news-heres-why-4e712804
https://protos.com/no-saudi-arabia-isnt-ditching-the-dollar-for-ripple-in-its-oil-trades/
Knowledge is the enemy of fear
Russia's move to stop trading was not voluntary....
US Sanctions Force Moscow Exchange to Halt Dollar, Euro Trading https://www.bloomberg.com/news/articles/2024-06-12/moscow-exchange-halts-dollar-euro-trading-on-new-us-sanctions
Knowledge is the enemy of fear
FWIW:
https://www.pmbug.com/threads/tin-foil-hats-economic-reality-and-the-total-perspective-vortex.75/post-104041
Yelling at clouds on pmbug.com
No, they were levered at 100-too-1.
The rest of your post says nothing regarding anything to do with monetary policy.