@Exbrit said:
That’s the problem - entitlements don’t go away and taxes keep going up. Percentage of GDP required keeps going up. There needs to be a change.
And just think......if we cut all spending and corporate welfare accounting such as in the BBB (just one example) we could eliminate most all taxes. Cuz wed have no economy to tax. Lol
@Exbrit said:
Reduce spending, not cut all spending, reduce entitlements, cut taxes and we will be just fine. Might as well buy some gold as well to keep on topic.
A 40% across the board in all spending still does not balance the budget. And that doesnt even allow for a tax. Cut taxes by 20% and reduce spending by 60% and you still only have a balanced budget. No reduction in debt levels.
And reduced spending, which funnels directly to the populace, and youve crushed the economy. So then even lower tax collection and more deficit spending
The administration wants inflation. Warsh said as much in his say nothing, do nothing speech. The wealthy want inflation.
Of course they want inflation. There is power being indebted to others and keeping the pyramid scheme going. The outrageous spending and entitlements will take decades to correct. You can’t do it all at once without destroying the economy. Increasing Taxes is NOT the answer.
@Exbrit said:
Of course they want inflation. There is power being indebted to others and keeping the pyramid scheme going. The outrageous spending and entitlements will take decades to correct. You can’t do it all at once without destroying the economy. Increasing Taxes is NOT the answer.
@Exbrit said:
Of course they want inflation. There is power being indebted to others and keeping the pyramid scheme going. The outrageous spending and entitlements will take decades to correct. You can’t do it all at once without destroying the economy. Increasing Taxes is NOT the answer.
Is eliminating tax loopholes a tax increase?
Of course it is - a person will pay more in taxes after their deduction/exemption is removed. Just like the SALT deduction increase in the One Big Beautiful Bill cut taxes, closing loopholes (mortgage interest deduction, insurance premium deduction, retirement contribution deduction) would be a tax increase.
@Exbrit said:
Of course they want inflation. There is power being indebted to others and keeping the pyramid scheme going. The outrageous spending and entitlements will take decades to correct. You can’t do it all at once without destroying the economy. Increasing Taxes is NOT the answer.
Is eliminating tax loopholes a tax increase?
Of course it is - a person will pay more in taxes after their deduction/exemption is removed. Just like the SALT deduction increase in the One Big Beautiful Bill cut taxes, closing loopholes (mortgage interest deduction, insurance premium deduction, retirement contribution deduction) would be a tax increase.
Thats my point.
Maybe focus on the corporate welfare? The pay to play schemes? The bailouts or bribes to comsumers to purchase things we dont need? Focus on the corporate side. If it costs a company too much to produce then maybe they should find a cheaper more efficient way instead of using tax payer money for subsidies. Image the innovation and productivity gains. Maybe focus on long term gain rather than short term illusion to win a politcak campaign.
@Exbrit said:
Of course they want inflation. There is power being indebted to others and keeping the pyramid scheme going. The outrageous spending and entitlements will take decades to correct. You can’t do it all at once without destroying the economy. Increasing Taxes is NOT the answer.
Is eliminating tax loopholes a tax increase?
Of course it is - a person will pay more in taxes after their deduction/exemption is removed. Just like the SALT deduction increase in the One Big Beautiful Bill cut taxes, closing loopholes (mortgage interest deduction, insurance premium deduction, retirement contribution deduction) would be a tax increase.
Thats my point.
Maybe focus on the corporate welfare? The pay to play schemes? The bailouts or bribes to comsumers to purchase things we dont need? Focus on the corporate side. If it costs a company too much to produce then maybe they should find a cheaper more efficient way instead of using tax payer money for subsidies. Image the innovation and productivity gains. Maybe focus on long term gain rather than short term illusion to win a politcak campaign.
We are weak.
I agree - the trillions wasted on 'green' initiatives on every level of government. All that went to China after GE and Siemens grifted their percentage. The CHIPS act spend tens of billions to build plants and Micron/Samsung are cashing in on the taxpayers and consumers. Sad
@Exbrit said:
Of course they want inflation. There is power being indebted to others and keeping the pyramid scheme going. The outrageous spending and entitlements will take decades to correct. You can’t do it all at once without destroying the economy. Increasing Taxes is NOT the answer.
Is eliminating tax loopholes a tax increase?
Of course it is - a person will pay more in taxes after their deduction/exemption is removed. Just like the SALT deduction increase in the One Big Beautiful Bill cut taxes, closing loopholes (mortgage interest deduction, insurance premium deduction, retirement contribution deduction) would be a tax increase.
Thats my point.
Maybe focus on the corporate welfare? The pay to play schemes? The bailouts or bribes to comsumers to purchase things we dont need? Focus on the corporate side. If it costs a company too much to produce then maybe they should find a cheaper more efficient way instead of using tax payer money for subsidies. Image the innovation and productivity gains. Maybe focus on long term gain rather than short term illusion to win a politcak campaign.
We are weak.
I agree - the trillions wasted on 'green' initiatives on every level of government. All that went to China after GE and Siemens grifted their percentage. The CHIPS act spend tens of billions to build plants and Micron/Samsung are cashing in on the taxpayers and consumers. Sad
Big oil and the war machine are grifted annually way more than every single "green" initiative combined. As the saying goes: "Peace sells but who's buying?". RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Big oil and the war machine are grifted annually way more than every single "green" initiative combined. As the saying goes: "Peace sells but who's buying?". RGDS!
I'll agree defense contractors are great at grifting, but I would love for you to explain how Big Oil is grifting taxpayer dollars
@Exbrit said:
Of course they want inflation. There is power being indebted to others and keeping the pyramid scheme going. The outrageous spending and entitlements will take decades to correct. You can’t do it all at once without destroying the economy. Increasing Taxes is NOT the answer.
Is eliminating tax loopholes a tax increase?
Of course it is - a person will pay more in taxes after their deduction/exemption is removed. Just like the SALT deduction increase in the One Big Beautiful Bill cut taxes, closing loopholes (mortgage interest deduction, insurance premium deduction, retirement contribution deduction) would be a tax increase.
Thats my point.
Maybe focus on the corporate welfare? The pay to play schemes? The bailouts or bribes to comsumers to purchase things we dont need? Focus on the corporate side. If it costs a company too much to produce then maybe they should find a cheaper more efficient way instead of using tax payer money for subsidies. Image the innovation and productivity gains. Maybe focus on long term gain rather than short term illusion to win a politcak campaign.
We are weak.
I agree - the trillions wasted on 'green' initiatives on every level of government. All that went to China after GE and Siemens grifted their percentage. The CHIPS act spend tens of billions to build plants and Micron/Samsung are cashing in on the taxpayers and consumers. Sad
Big oil and the war machine are grifted annually way more than every single "green" initiative combined. As the saying goes: "Peace sells but who's buying?". RGDS!
.
It would help if you think these sorts of things through before making such statements.
"Big Oil" pays a lot in taxes, and they get very little (if any) taxpayer money.
They efficiently provide a product that is surprisingly cheap, if you really think about it,
A gallon of gasoline, even with the retail taxes on it, costs less than a gallon of bottled water.
@Exbrit said:
Of course they want inflation. There is power being indebted to others and keeping the pyramid scheme going. The outrageous spending and entitlements will take decades to correct. You can’t do it all at once without destroying the economy. Increasing Taxes is NOT the answer.
Is eliminating tax loopholes a tax increase?
Of course it is - a person will pay more in taxes after their deduction/exemption is removed. Just like the SALT deduction increase in the One Big Beautiful Bill cut taxes, closing loopholes (mortgage interest deduction, insurance premium deduction, retirement contribution deduction) would be a tax increase.
Thats my point.
Maybe focus on the corporate welfare? The pay to play schemes? The bailouts or bribes to comsumers to purchase things we dont need? Focus on the corporate side. If it costs a company too much to produce then maybe they should find a cheaper more efficient way instead of using tax payer money for subsidies. Image the innovation and productivity gains. Maybe focus on long term gain rather than short term illusion to win a politcak campaign.
We are weak.
I agree - the trillions wasted on 'green' initiatives on every level of government. All that went to China after GE and Siemens grifted their percentage. The CHIPS act spend tens of billions to build plants and Micron/Samsung are cashing in on the taxpayers and consumers. Sad
Big oil and the war machine are grifted annually way more than every single "green" initiative combined. As the saying goes: "Peace sells but who's buying?". RGDS!
.
It would help if you think these sorts of things through before making such statements.
"Big Oil" pays a lot in taxes, and they get very little (if any) taxpayer money.
They efficiently provide a product that is surprisingly cheap, if you really think about it,
A gallon of gasoline, even with the retail taxes on it, costs less than a gallon of bottled water.
.
Actually, the energy sector is one of the most highly subsidized industries, to the tune of over $30 billion per year. (Google is your friend).
Yes, they do pay a substantial amount in taxes, but their effective rate is much less than my personal rate, and probably less than yours.
But agree, gasoline is relatively cheap. And would be even cheaper if we built a few refineries, instead of data centers.
Watch the gold to silver ratios. Right now it is at 69.75. (the anuary low was ~30, but as you remember Silver was spiking! Usually if the ratio is above 60, it favors silver going up (or gold coming down - quite the opposite of when it was below 60). Recently week over week it has been declining a bit. However,, because silver is an industrial metal, and is STRAGEGIC in defense, solar, datacenters, etc. short term supply and demand dynamics favor silver.,
On the other hand, personally, my safe is getting full and cant take it anymore. I've been buying 90% silver proofs below melt price because coin dealers don't want to deal with (buy) 90% these days. (go figure: the smelters are flooded from the last run-up) Gold is easier to deal with, if you can find 1/10's.
“When you don't know what you're talking about, it's hard to know when you're finished.” - Tommy Smothers
Not sure what you mean by UST are selling way below the private bond market -- that's not how a bond market works.
Currently the "Moody's Seasoned Baa Corporate Bond Yield Relative to Yield on 10-Year Treasury Constant Maturity "ratio is about 1.6 to 1.65. On June 16 2026 it was 1.55.
What I'm getting at is it has been rising year over year and month over month. This is what is known as "Bond Vigilantism". The Bond market is leading the Fed. The spreads are growing.
China is NOT hoarding gold and silver, just because they are buying. See my Gold & China piece.
I respectfully disagree. They are buying it and unloading treasuries, incrementally.
Chinese Gold holdings (metric tons) have risen consistently from ~1,950 in 2019 to ~2,300 in 2024 — a strategic buildup aligned with diversification trends.
Chinese U.S. Treasury holdings (USD billions) have declined from ~$1.1T in 2019 to ~$760B in 2024 — consistent with TIC data showing a multi‑year reduction.
“When you don't know what you're talking about, it's hard to know when you're finished.” - Tommy Smothers
Actually, the energy sector is one of the most highly subsidized industries, to the tune of over $30 billion per year. (Google is your friend).
Yes, they do pay a substantial amount in taxes, but their effective rate is much less than my personal rate, and probably less than yours.
But agree, gasoline is relatively cheap. And would be even cheaper if we built a few refineries, instead of data centers.
I'll ask you the same question - what direct subsidies (actual payment of taxpayer monies) does the energy sector receive?
A direct subsidy can be and is more that a dollar being passed from the Treasury to a corporation.
From the interweb, and you can explore more if you wish. Google is your friend.
Direct energy subsidies include explicit cash transfers, direct government funding for research and development, and targeted tax breaks that lower production costs or artificially lower consumer prices. Both fossil fuels and clean energy receive these types of direct fiscal support, though mechanisms vary by sector.Direct Subsidies for Fossil Fuels (Coal, Oil, Natural Gas)Tax Code Provisions: Special deductions and credits like intangible drilling costs, percentage depletion allowances, and accelerated depreciation.Direct Payments: Grants and government-backed preferential loans for exploration, extraction, or infrastructure development.Public Resource Access: Below-market leasing rates and reduced royalty payments for extracting oil, gas, or coal on public lands and waters.Consumer Price Support: Direct cash transfers or price controls that keep retail heating or fuel prices artificially low for end-users
China bought 20 ton in July, the largest monthly increase since October 2023. Since March, the central bank has increased the pace of its monthly purchases.
Perhaps China’s declining trade surplus with the USA has allowed them to cut back on a USD position they never especially wanted to build in the first place?
Andy Lustig
Doggedly collecting coins of the Central American Republic. Visit the Society of US Pattern Collectors at USPatterns.com.
"China is not preparing for a theatrical dollar collapse. It is preparing for a world in which reserves can be frozen, payment systems can be weaponized, and sovereign debt can no longer be treated as politically neutral."
Smart move.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
Looks like China foresaw the current US Treasury "devaluation" and made a good move. Pretty soon they can use that gold to buy back US treasuries at a major discount. They apparently are getting good inside info from Washington. bond players would be wise to start following China's bond market moves, apparently one of their Washington spies is at the FED.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
Not just China reduced the Treasury holding in the latest month (June). Below are the latest top 3 holding. It will be interesting to see the figures in the coming months.
Japan June, May, April
1116.7 1143.1 1209.9
United Kingdom 939.9 948.6 937.5
China 633.4 659.3 651.1
Total holding by all countries: 9299.0 9371.1 9352.6
$40T. Sinking faster than an Atlantic City Casino. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
$40T. Sinking faster than an Atlantic City Casino. RGDS!
irrelevent. just print more, raise income to match the increase in inflation. As long as it all rises together, no real impact. Just more zeros on currency, income and prices.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
$40T. Sinking faster than an Atlantic City Casino. RGDS!
irrelevent. just print more, raise income to match the increase in inflation. As long as it all rises together, no real impact. Just more zeros on currency, income and prices.
RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
$40T. Sinking faster than an Atlantic City Casino. RGDS!
irrelevent. just print more, raise income to match the increase in inflation. As long as it all rises together, no real impact. Just more zeros on currency, income and prices.
@taxmad said:
I agree - the trillions wasted on 'green' initiatives on every level of government. All that went to China after GE and >Siemens grifted their percentage. The CHIPS act spend tens of billions to build plants and Micron/Samsung are >cashing in on the taxpayers and consumers. Sad
Not exactly right on the Green scams but I get your point.
MU and SAMS are cashing in on memory chip dynamics, not the CHIPs Act. The beneficiaries there are largely CPU and GPU makers.
@derryb said:
Looks like China foresaw the current US Treasury "devaluation" and made a good move. Pretty soon they can use> >that gold to buy back US treasuries at a major discount. They apparently are getting good inside info from >Washington. bond players would be wise to start following China's bond market moves, apparently one of their >Washington spies is at the FED.
Their spy must have been sleeping because China bought tons of 10-year paper with coupons of 1, 2, and 3%.
As with Japan in the 1980's, China's Treasury holdings are more to manage the Yuan and protect their massive trade surplus than to make winning investments. They have a $360 billion surplus with the EU....you think they want the dollar lower, their currency 30% higher, and then bleed cash on all their trade surpluses ?
@MrEureka said:
Perhaps China’s declining trade surplus with the USA has allowed them to cut back on a USD position they never >especially wanted to build in the first place?
Well, sort of.....the declining trade surplus is the flip side of a declining capital account DEFICIT that China has with the U.S. Or a reduced U.S. capital account SURPLUS that we have.
As trade deficits decline, reclycled surpluses/deficits decline meaning less investments in Treasuries, stocks, bonds, real estate, etc.
China needs to move from an export economy to a domestic consumption economy. Their global surplus this year is at record levels and is UNSUSTAINABLE as witness the EU moves to protect their manufacturing base from $10,000 EVs.
@taxmad said:
I agree - the trillions wasted on 'green' initiatives on every level of government. All that went to China after GE and >Siemens grifted their percentage. The CHIPS act spend tens of billions to build plants and Micron/Samsung are >cashing in on the taxpayers and consumers. Sad
Not exactly right on the Green scams but I get your point.
MU and SAMS are cashing in on memory chip dynamics, not the CHIPs Act. The beneficiaries there are largely CPU and GPU makers.
Flat tax - cut entitlements - cut the spending - take the pain.
Any idea what the pain would look.like?
The only pain would be with those politicians that attempt to cut Social Security and Medicare because those politicians would soon be looking for a new job.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Flat tax - cut entitlements - cut the spending - take the pain.
Any idea what the pain would look.like?
The only pain would be with those politicians that attempt to cut Social Security and Medicare because those politicians would soon be looking for a new job.
Well, if thats the only pain, then whats the issue?
We should abolish SS and Medicare completely. More gooberment welfare. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
@blitzdude said:
We should abolish SS and Medicare completely. More gooberment welfare. THKS!
How is it welfare if one paid into it their entire life? Maybe you don't know what the word "welfare" means.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Originally, Social Security funds were set aside in a trust fund. About 20 years ago, Congress decided to steal that money and to put it into the "general account" - the same account that Bessent says he is going to use to buy back Treasuries. They will steal whatever they think that they can get away with.
Medicare isn't welfare if you've paid into it your whole working life. It may be totally mismanaged, but it's not welfare.
Q: Are You Printing Money? Bernanke: Not Literally
Someone called me today wanting to sell a gold panda and other coins such as gold rubles. I told him that the dollar is getting weaker so maybe hang tight as gold will get stronger not weaker. The fundamentals are still strong for gold.
@blitzdude said:
We should abolish SS and Medicare completely. More gooberment welfare. THKS!
How is it welfare if one paid into it their entire life? Maybe you don't know what the word "welfare" means.
He is insulting/parodying those he feels are ignorant maga supporters
Thanks for telling me what I was trying to do. I didn't even realize maga was still a thing. SS and Medicare are entitlements that are bankrupting this once great nation. Cut em all I say. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
@jmski52 said:
Originally, Social Security funds were set aside in a trust fund. About 20 years ago, Congress decided to steal that money and to put it into the "general account" - the same account that Bessent says he is going to use to buy back Treasuries. They will steal whatever they think that they can get away with.
>
Not true. SS funds are used to purchase interest-bearing treasury bonds. What would you have them do - keep trillions in a checking account at Chase or maybe store pallets of $100 bills in a vault?
Not true. SS funds are used to purchase interest-bearing treasury bonds. What would you have them do - keep trillions in a checking account at Chase or maybe store pallets of $100 bills in a vault?
I stand corrected. I'm not sure where I got the idea that the funds were going into the general fund, but I do think it's been common knowledge for awhile that there will be a shortfall by 2032 that will require revamping in some way.
Now, the status of those treasury bonds is the bigger issue. I know this is an old saw, but how does the interest rate on those bonds compare to the rate of inflation, and what will the SS payouts be worth in terms of purchasing power?
Q: Are You Printing Money? Bernanke: Not Literally
@blitzdude said:
Actually, it's quite ironic. All me gutter profits went into SGOV and those have for the past several months been cashing out for physical gold. Woulda been better off holding the T-bills but at the end of the day I think I'm probably still #Winning™. Perhaps they will one day classify me as Chinese. THKS!
I think you're missing the point.
They're buying gold because it's impossible to put that money into silver and you can always trade gold for silver. A trillion dollars would buy all the silver in the world at $125/ Oz. . There is nowhere to buy in such quantity so they are set on absorb mode toward silver and putting their bets on gold. No matter what the Yuan or dollar are worth you can still trade gold for silver.
They are coming for the silver and this will go on until new sources are discovered and/ or exploited. Some current trends are unsustainable but don't hold your breath waiting for them to make a silver mine next door. Don't hold your breath waiting for silver to crack out in increasing percentages of other mining. We've achieved this steady state through lack of foresight that encouraged the destruction of silver. Nobody was concerned because it was so cheap banks could suppress the price. It even occurred in vast number in copper, gold and other mining. without coins, often as mere specie or long retired, the price of silver would have fallen to demand being secondary uses. It was a gilded age where even our clad silver coin wasn't really silver on the inside.
This is a new age where there's silver inside of everything to make it work better. We can't go back and we face the future with a mere 8 billion ounces of silver.
Past results are not always indicative of the future.
Godspeed.
Copilot-
_
I think you’re missing the point.
They’re buying gold because you can’t put that scale of money into silver. A trillion dollars would buy all surviving silver at roughly $125/oz. There’s nowhere to acquire that quantity directly, so accumulation has to happen through gold first. No matter what the yuan or dollar do, gold can always be traded for silver.
They’re coming for the silver, and they’ll keep coming until new sources are discovered or exploited. Some trends are obviously unsustainable, but don’t expect a silver mine to appear next door, and don’t expect silver to suddenly emerge in higher percentages from other mining streams. We reached this steady state through decades of destruction and neglect — silver was so cheap that banks could suppress the price, and huge amounts were lost in copper, gold, and other mining. Without coins, often retired or melted, silver would’ve collapsed into a secondary‑use metal.
But this is a new age. Silver is now inside everything that needs to work better. We can’t go back, and we’re facing the future with only about 8 billion ounces left above ground.
DNB put out a interesting news yesterday saying "De Nederlandsche Bank (DNB) has improved the tradability of its gold reserves by transferring part of the gold holdings from New York and Ottawa to London. This ensures that DNB is better prepared for severe crises."
Comments
That’s the problem - entitlements don’t go away and taxes keep going up. Percentage of GDP required keeps going up. There needs to be a change.
And just think......if we cut all spending and corporate welfare accounting such as in the BBB (just one example) we could eliminate most all taxes. Cuz wed have no economy to tax. Lol
Knowledge is the enemy of fear
Reduce spending, not cut all spending, reduce entitlements, cut taxes and we will be just fine. Might as well buy some gold as well to keep on topic.
A 40% across the board in all spending still does not balance the budget. And that doesnt even allow for a tax. Cut taxes by 20% and reduce spending by 60% and you still only have a balanced budget. No reduction in debt levels.
And reduced spending, which funnels directly to the populace, and youve crushed the economy. So then even lower tax collection and more deficit spending
The administration wants inflation. Warsh said as much in his say nothing, do nothing speech. The wealthy want inflation.
Knowledge is the enemy of fear
Of course they want inflation. There is power being indebted to others and keeping the pyramid scheme going. The outrageous spending and entitlements will take decades to correct. You can’t do it all at once without destroying the economy. Increasing Taxes is NOT the answer.
Is eliminating tax loopholes a tax increase?
Knowledge is the enemy of fear
I am 100% in favor of closing loopholes. That would not count as a tax increase in my eyes.
Of course it is - a person will pay more in taxes after their deduction/exemption is removed. Just like the SALT deduction increase in the One Big Beautiful Bill cut taxes, closing loopholes (mortgage interest deduction, insurance premium deduction, retirement contribution deduction) would be a tax increase.
Thats my point.
Maybe focus on the corporate welfare? The pay to play schemes? The bailouts or bribes to comsumers to purchase things we dont need? Focus on the corporate side. If it costs a company too much to produce then maybe they should find a cheaper more efficient way instead of using tax payer money for subsidies. Image the innovation and productivity gains. Maybe focus on long term gain rather than short term illusion to win a politcak campaign.
We are weak.
Knowledge is the enemy of fear
I agree - the trillions wasted on 'green' initiatives on every level of government. All that went to China after GE and Siemens grifted their percentage. The CHIPS act spend tens of billions to build plants and Micron/Samsung are cashing in on the taxpayers and consumers. Sad
Big oil and the war machine are grifted annually way more than every single "green" initiative combined. As the saying goes: "Peace sells but who's buying?". RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
I'll agree defense contractors are great at grifting, but I would love for you to explain how Big Oil is grifting taxpayer dollars
Great tune!!
Knowledge is the enemy of fear
.
It would help if you think these sorts of things through before making such statements.
"Big Oil" pays a lot in taxes, and they get very little (if any) taxpayer money.
They efficiently provide a product that is surprisingly cheap, if you really think about it,
A gallon of gasoline, even with the retail taxes on it, costs less than a gallon of bottled water.
.
Actually, the energy sector is one of the most highly subsidized industries, to the tune of over $30 billion per year. (Google is your friend).
Yes, they do pay a substantial amount in taxes, but their effective rate is much less than my personal rate, and probably less than yours.
But agree, gasoline is relatively cheap. And would be even cheaper if we built a few refineries, instead of data centers.
Knowledge is the enemy of fear
I'll ask you the same question - what direct subsidies (actual payment of taxpayer monies) does the energy sector receive?
Watch the gold to silver ratios. Right now it is at 69.75. (the anuary low was ~30, but as you remember Silver was spiking! Usually if the ratio is above 60, it favors silver going up (or gold coming down - quite the opposite of when it was below 60). Recently week over week it has been declining a bit. However,, because silver is an industrial metal, and is STRAGEGIC in defense, solar, datacenters, etc. short term supply and demand dynamics favor silver.,
On the other hand, personally, my safe is getting full and cant take it anymore. I've been buying 90% silver proofs below melt price because coin dealers don't want to deal with (buy) 90% these days. (go figure: the smelters are flooded from the last run-up) Gold is easier to deal with, if you can find 1/10's.
Currently the "Moody's Seasoned Baa Corporate Bond Yield Relative to Yield on 10-Year Treasury Constant Maturity "ratio is about 1.6 to 1.65. On June 16 2026 it was 1.55.
What I'm getting at is it has been rising year over year and month over month. This is what is known as "Bond Vigilantism". The Bond market is leading the Fed. The spreads are growing.
I respectfully disagree. They are buying it and unloading treasuries, incrementally.
Chinese Gold holdings (metric tons) have risen consistently from ~1,950 in 2019 to ~2,300 in 2024 — a strategic buildup aligned with diversification trends.
Chinese U.S. Treasury holdings (USD billions) have declined from ~$1.1T in 2019 to ~$760B in 2024 — consistent with TIC data showing a multi‑year reduction.
A direct subsidy can be and is more that a dollar being passed from the Treasury to a corporation.
From the interweb, and you can explore more if you wish. Google is your friend.
Direct energy subsidies include explicit cash transfers, direct government funding for research and development, and targeted tax breaks that lower production costs or artificially lower consumer prices. Both fossil fuels and clean energy receive these types of direct fiscal support, though mechanisms vary by sector.Direct Subsidies for Fossil Fuels (Coal, Oil, Natural Gas)Tax Code Provisions: Special deductions and credits like intangible drilling costs, percentage depletion allowances, and accelerated depreciation.Direct Payments: Grants and government-backed preferential loans for exploration, extraction, or infrastructure development.Public Resource Access: Below-market leasing rates and reduced royalty payments for extracting oil, gas, or coal on public lands and waters.Consumer Price Support: Direct cash transfers or price controls that keep retail heating or fuel prices artificially low for end-users
Knowledge is the enemy of fear
China bought 20 ton in July, the largest monthly increase since October 2023. Since March, the central bank has increased the pace of its monthly purchases.
https://www.kitco.com/news/article/2026-08-07/pboc-boosts-gold-buying-largest-monthly-purchase-2023
Perhaps China’s declining trade surplus with the USA has allowed them to cut back on a USD position they never especially wanted to build in the first place?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Martin Armstrong explains why China is hoarding gold.
"China is not preparing for a theatrical dollar collapse. It is preparing for a world in which reserves can be frozen, payment systems can be weaponized, and sovereign debt can no longer be treated as politically neutral."
Smart move.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
Looks like China foresaw the current US Treasury "devaluation" and made a good move. Pretty soon they can use that gold to buy back US treasuries at a major discount. They apparently are getting good inside info from Washington. bond players would be wise to start following China's bond market moves, apparently one of their Washington spies is at the FED.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
Not just China reduced the Treasury holding in the latest month (June). Below are the latest top 3 holding. It will be interesting to see the figures in the coming months.
Japan June, May, April
1116.7 1143.1 1209.9
United Kingdom 939.9 948.6 937.5
China 633.4 659.3 651.1
Total holding by all countries: 9299.0 9371.1 9352.6
$40T. Sinking faster than an Atlantic City Casino. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
"The bankruptcy was the biggest, beautiful, tremendous. Nobody thought it could happen. Everyone was wrong, except me".----Stable Genius.
Knowledge is the enemy of fear
irrelevent. just print more, raise income to match the increase in inflation. As long as it all rises together, no real impact. Just more zeros on currency, income and prices.
Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat
RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
All good until corruption.....Got corruption?
Knowledge is the enemy of fear
Not exactly right on the Green scams but I get your point.
MU and SAMS are cashing in on memory chip dynamics, not the CHIPs Act. The beneficiaries there are largely CPU and GPU makers.
Their spy must have been sleeping because China bought tons of 10-year paper with coupons of 1, 2, and 3%.
As with Japan in the 1980's, China's Treasury holdings are more to manage the Yuan and protect their massive trade surplus than to make winning investments. They have a $360 billion surplus with the EU....you think they want the dollar lower, their currency 30% higher, and then bleed cash on all their trade surpluses ?
Well, sort of.....the declining trade surplus is the flip side of a declining capital account DEFICIT that China has with the U.S. Or a reduced U.S. capital account SURPLUS that we have.
As trade deficits decline, reclycled surpluses/deficits decline meaning less investments in Treasuries, stocks, bonds, real estate, etc.
China needs to move from an export economy to a domestic consumption economy. Their global surplus this year is at record levels and is UNSUSTAINABLE as witness the EU moves to protect their manufacturing base from $10,000 EVs.
$6.1 billion from the CHIPS Act
Flat tax - cut entitlements - cut the spending - take the pain.
.> @Exbrit said:
Any idea what the pain would look.like?
Knowledge is the enemy of fear
The only pain would be with those politicians that attempt to cut Social Security and Medicare because those politicians would soon be looking for a new job.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Well, if thats the only pain, then whats the issue?
Knowledge is the enemy of fear
We should abolish SS and Medicare completely. More gooberment welfare. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
How is it welfare if one paid into it their entire life? Maybe you don't know what the word "welfare" means.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
We're all waiting on you to voluntarily forgo any Social Security and Medicare benefits since in your words they are "gooberment welfare"...
Philippians 4:4-7
He is insulting/parodying those he feels are ignorant maga supporters
Actually, I think he is just a troll.
Philippians 4:4-7
Originally, Social Security funds were set aside in a trust fund. About 20 years ago, Congress decided to steal that money and to put it into the "general account" - the same account that Bessent says he is going to use to buy back Treasuries. They will steal whatever they think that they can get away with.
Medicare isn't welfare if you've paid into it your whole working life. It may be totally mismanaged, but it's not welfare.
I knew it would happen.
Someone called me today wanting to sell a gold panda and other coins such as gold rubles. I told him that the dollar is getting weaker so maybe hang tight as gold will get stronger not weaker. The fundamentals are still strong for gold.
Thanks for telling me what I was trying to do. I didn't even realize maga was still a thing. SS and Medicare are entitlements that are bankrupting this once great nation. Cut em all I say. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
>
Not true. SS funds are used to purchase interest-bearing treasury bonds. What would you have them do - keep trillions in a checking account at Chase or maybe store pallets of $100 bills in a vault?
Not true. SS funds are used to purchase interest-bearing treasury bonds. What would you have them do - keep trillions in a checking account at Chase or maybe store pallets of $100 bills in a vault?
I stand corrected. I'm not sure where I got the idea that the funds were going into the general fund, but I do think it's been common knowledge for awhile that there will be a shortfall by 2032 that will require revamping in some way.
Now, the status of those treasury bonds is the bigger issue. I know this is an old saw, but how does the interest rate on those bonds compare to the rate of inflation, and what will the SS payouts be worth in terms of purchasing power?
I knew it would happen.
Wow you really are even more clueless than I thought lolzz...
COPPER is gutter !
I think you're missing the point.
They're buying gold because it's impossible to put that money into silver and you can always trade gold for silver. A trillion dollars would buy all the silver in the world at $125/ Oz. . There is nowhere to buy in such quantity so they are set on absorb mode toward silver and putting their bets on gold. No matter what the Yuan or dollar are worth you can still trade gold for silver.
They are coming for the silver and this will go on until new sources are discovered and/ or exploited. Some current trends are unsustainable but don't hold your breath waiting for them to make a silver mine next door. Don't hold your breath waiting for silver to crack out in increasing percentages of other mining. We've achieved this steady state through lack of foresight that encouraged the destruction of silver. Nobody was concerned because it was so cheap banks could suppress the price. It even occurred in vast number in copper, gold and other mining. without coins, often as mere specie or long retired, the price of silver would have fallen to demand being secondary uses. It was a gilded age where even our clad silver coin wasn't really silver on the inside.
This is a new age where there's silver inside of everything to make it work better. We can't go back and we face the future with a mere 8 billion ounces of silver.
Past results are not always indicative of the future.
Godspeed.
Copilot-
_
I think you’re missing the point.
They’re buying gold because you can’t put that scale of money into silver. A trillion dollars would buy all surviving silver at roughly $125/oz. There’s nowhere to acquire that quantity directly, so accumulation has to happen through gold first. No matter what the yuan or dollar do, gold can always be traded for silver.
They’re coming for the silver, and they’ll keep coming until new sources are discovered or exploited. Some trends are obviously unsustainable, but don’t expect a silver mine to appear next door, and don’t expect silver to suddenly emerge in higher percentages from other mining streams. We reached this steady state through decades of destruction and neglect — silver was so cheap that banks could suppress the price, and huge amounts were lost in copper, gold, and other mining. Without coins, often retired or melted, silver would’ve collapsed into a secondary‑use metal.
But this is a new age. Silver is now inside everything that needs to work better. We can’t go back, and we’re facing the future with only about 8 billion ounces left above ground.
Past results aren’t a guide to what comes next._
DNB put out a interesting news yesterday saying "De Nederlandsche Bank (DNB) has improved the tradability of its gold reserves by transferring part of the gold holdings from New York and Ottawa to London. This ensures that DNB is better prepared for severe crises."
You can read the complete news from this link. https://www.dnb.nl/en/general-news/press-release-2026/dnb-improves-tradability-of-gold-reserves/