The German mint had to run continuously to print enough money everyday during their collapse. They stopped printing the backs of the money to save time.
Stores were resorting to weighing people’s money rather than counting it.
The situation reached its peak in 1923 when the German central bank was printing currency at an unprecedented rate. By November 1923, one US dollar was worth 4,210,500,000,000 marks. The government had to print million-mark notes, then billion-mark notes to keep up with the rapidly increasing prices.
He didn't seem to adjust his behavior after the jailing. Saw that coming.
I get the impression the forum is going to be a lot less hostile now.
The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.
@WCC said:
The US and global financial system are more overleveraged with (sub) basement level credit standards and (sub) >basement credit quality. It only appears otherwise due to an artificial economy from massive fiscal stimulus and >still very loose (global) monetary policy.
Most of the risk has been transferred elsewhere, outside the banking system, but the banking system does not >operate in a vacuum.
Bank leverage is 1/2 that from before the GFC...."Shadow" banking has taken up alot of the slack as has private credit but that isn't at discussion when we talk about regulated banks.
We bailed out the Teamsters CSPF with $36 billion but nobody notices. They'd rather b**** about "Wall Street banks" than focus on the real fraudsters.
Maybe...but emerging market debt risks are much less than 10 or 20 or 40 years ago. Back then they were B- or lower....today, they are BB or higher.
Ratings don't mean much of anything. Complete garbage when the credit cycle turns. Biggest difference now vs. then is that developed countries are in far worse shape and will be less able even if willing to bail them out. The IMF and World Bank don't exist in a parallel financial system.
We're in the greatest asset, credit, and debt mania ever, nothing is even close. Same one from the last quarter century plus, as it never ended. The dead wood has never been permitted to clear. That's what central bank and central government bailouts and fiscal "stimulus" lead to.
Comments
The German mint had to run continuously to print enough money everyday during their collapse. They stopped printing the backs of the money to save time.
Stores were resorting to weighing people’s money rather than counting it.
The situation reached its peak in 1923 when the German central bank was printing currency at an unprecedented rate. By November 1923, one US dollar was worth 4,210,500,000,000 marks. The government had to print million-mark notes, then billion-mark notes to keep up with the rapidly increasing prices.
But it could never happen here. LOL
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
Certainly not in our lifetimes. Welcome to 2025, not even in the same universe as 1923 Germany. THKS!
I'm surprised no one posted a link like this with all of the data and bank info.
https://www.bankrate.com/banking/list-of-failed-banks/
http://ProofCollection.Net
this thread is more about emotion than facts
"certainty" that something will or will not occur is an excellent start to failure.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
A picture is worth a thousand words?
https://forums.collectors.com/discussion/comment/13874943/#Comment_13874943
Yelling at clouds on pmbug.com
Yes but doesn't have a list of the banks.
http://ProofCollection.Net
Several countries that have recently defaulted on their sovereign debt:
Russia: Defaulted on $47 billion in foreign currency bonds in 2022, following international sanctions due to the invasion of Ukraine.
Lebanon: Defaulted on $31.3 billion in March 2020, amid a severe economic crisis.
Ukraine: Currently in default on $30 billion of foreign currency debt, exacerbated by the ongoing conflict with Russia.
Argentina: Defaulted on $10.5 billion in February 2020, continuing its history of repeated defaults.
Ecuador: Defaulted on $17.3 billion in April 2020, influenced by the COVID-19 pandemic and falling oil prices.
Ghana: Currently in default on $13 billion of foreign currency debt.
Sri Lanka: Defaulted on international debt in May 2022, following a severe economic crisis and depletion of foreign currency reserves.
Zambia: Currently in default, as part of a record number of Fitch-rated sovereigns in default status.
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Well, it looks like the self-proclaimed "Redneck Hillbilly" has been PERMANENTLY banned.
.
He didn't seem to adjust his behavior after the jailing. Saw that coming.
I get the impression the forum is going to be a lot less hostile now.
The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.
Bank leverage is 1/2 that from before the GFC...."Shadow" banking has taken up alot of the slack as has private credit but that isn't at discussion when we talk about regulated banks.
We bailed out the Teamsters CSPF with $36 billion but nobody notices. They'd rather b**** about "Wall Street banks" than focus on the real fraudsters.
There is a LOT more of that coming.
Maybe...but emerging market debt risks are much less than 10 or 20 or 40 years ago. Back then they were B- or lower....today, they are BB or higher.
Ratings don't mean much of anything. Complete garbage when the credit cycle turns. Biggest difference now vs. then is that developed countries are in far worse shape and will be less able even if willing to bail them out. The IMF and World Bank don't exist in a parallel financial system.
We're in the greatest asset, credit, and debt mania ever, nothing is even close. Same one from the last quarter century plus, as it never ended. The dead wood has never been permitted to clear. That's what central bank and central government bailouts and fiscal "stimulus" lead to.
There is never something for nothing, ever.
those who like to have the last word seem to find a way back> @GoldFinger1969 said:
About those credit ratings agencies
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
Betting on disaster rarely works out.
And if you are right -- but it happens 30 or 50 or 100 or 150 years from now -- does it matter ? Is it investable ?
Some trends are so slow-developing they may as well not happen from our perspective.