@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?
By law, any payroll tax revenues collected by Social Security that are not immediately needed to pay current benefits must be invested in interest-bearing obligations of the U.S. government. This is just one of the ways the government buys it's own debt, but with other people's money.
Increases in gov. spending should be limited to the pervious year's annual inflation. Excess tax collections should be applied to the debt, not with money collected for social benefits.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
They can buy all the gold they want.....nobody is trusting risk-free assets in a controlled market with capital controls and a Communist party.
It seems that China's new gold vaulting system in major financial centers around the world is addressing that issue with ready access to physical gold in vaults that are local.
China hasn't confiscated $300 billion in US Treasuries from anyone lately, nor have they orchestrated a government takeover and confiscated Venezuelan gold out of London lately either - all while the US debt at higher and higher interest rates spirals further out of control and inflation continues to steal more and more purchasing power away from normal working people.
The banks create a loan and call it an "asset" based on indentured servitude while the "money" that the bankers certainly didn't have to sweat for - comes from out of nowhere.
And GF worries about "trust"? Even GF won't like it when he's forced to adopt programmable money and then finds out what capital controls mean.
Q: Are You Printing Money? Bernanke: Not Literally
If China thinks they will have more legitimacy as a ROW reserve currency, they are not being realistic.
Autocratic regimes cannot survive the perception of a unilateral decision-making mistake, with no correction mechanism.
Witness the Covid lockdown, real estate financing debacle. Pay attention to how many successful Chinese businessmen have been jailed for "provoking trouble".
@fathom said:
If China thinks they will have more legitimacy as a ROW reserve currency, they are not being realistic.
Autocratic regimes cannot survive the perception of a unilateral decision-making mistake, with no correction mechanism.
Witness the Covid lockdown, real estate financing debacle. Pay attention to how many successful Chinese businessmen have been jailed for "provoking trouble".
As long as the US continues to weaponize it's currency, nation's that fear losing US love will seek a viable alternative. This is why BRICS is finding legitimacy in the East.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
@fathom said:
Witness the Covid lockdown, real estate financing debacle. Pay attention to how many successful Chinese >businessmen have been jailed for "provoking trouble".
Jack Ma, CEO of Alibaba, "disappeared" for a few months under house arrest.
Don't think CBs, SWFs, and Big Investors didn't notice.
The Chinese Communist Party collected "voluntary" contributions a few years ago amounting to tens of billions of dollars from companies. They literally stole assets on the balance sheets of BABA, etc.
@derryb said:
Because soaring yields can tank stocks -- and gold. They can trigger bank failures like in 2023 when Jerome Powell’s panic-hikes crashed bonds."
They weren't panic hikes and a grand total of 3 -- T-H-R-E-E -- banks went under.
1930's: 8,000 banks went under
1980's: 3,000 banks went under
2008: 150 banks went under
202: 3 banks went under
"What’s the end game? As alway, the money printer. Central banks step in and print money to buy government >bonds."
@derryb said:
Because soaring yields can tank stocks -- and gold. They can trigger bank failures like in 2023 when Jerome Powell’s panic-hikes crashed bonds."
They weren't panic hikes and a grand total of 3 -- T-H-R-E-E -- banks went under.
1930's: 8,000 banks went under
1980's: 3,000 banks went under
2008: 150 banks went under
202: 3 banks went under
FED raised rates four times in 2023. How many does it take in one year to meet your definition of "panic hikes?" LOL
Bank failures of two or more should raise eyebrows of anyone with money in a bank.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
@derryb said:
As long as the US continues to weaponize it's currency, nation's that fear losing US love will seek a viable >alternative. This is why BRICS is finding legitimacy in the East.
Lula won in Brazil and the market went down 20%. The guy who authorized a $2 billion refinery and then his party spent $38 billion on it and he said he'd "have to look at the bills" to see what went wrong.
Yes, that's a country folks are going to trust their money to.
@derryb said: @GoldFinger1969 said:
Bank failures of two or more should raise eyebrows of anyone with money in a bank.
Bank failures happen every year. It's only during times of stress that folks like you notice.
for those that don't take early notice it will be too late to protect themselves when they finally do take notice.
Other businesses fail -- do you panic about them ? Dot.coms ? Software stocks ? AI stocks ? Covid stocks like BeyondMeat and Peloton ?
business failures don't result in bank failures. Bank failures result in business failures, lots of them. When it comes to failure, you want the banks at the bottom of your wish list.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
@derryb said:
As long as the US continues to weaponize it's currency, nation's that fear losing US love will seek a viable >alternative. This is why BRICS is finding legitimacy in the East.
Lula won in Brazil and the market went down 20%. The guy who authorized a $2 billion refinery and then his party spent $38 billion on it and he said he'd "have to look at the bills" to see what went wrong.
Yes, that's a country folks are going to trust their money to.
And now the loser has fled his own country. I guess he really was looking out for his fellow coutrymen. So much rhyming these days. Lol
Comments
China bought 20.2 ton gold in August.
This is a pretty classic head and shoulders pattern. Better buy point may be ahead especially if rates go up more from here.
My US Mint Commemorative Medal Set
China isn't waiting for cheaper gold
Added 20.2 metric tons of gold in August, its largest monthly purchase since October 2023. And that's just the increase we KNOW about.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
By law, any payroll tax revenues collected by Social Security that are not immediately needed to pay current benefits must be invested in interest-bearing obligations of the U.S. government. This is just one of the ways the government buys it's own debt, but with other people's money.
Increases in gov. spending should be limited to the pervious year's annual inflation. Excess tax collections should be applied to the debt, not with money collected for social benefits.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
They can buy all the gold they want.....nobody is trusting risk-free assets in a controlled market with capital controls and a Communist party.
NY?
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
They can buy all the gold they want.....nobody is trusting risk-free assets in a controlled market with capital controls and a Communist party.
It seems that China's new gold vaulting system in major financial centers around the world is addressing that issue with ready access to physical gold in vaults that are local.
China hasn't confiscated $300 billion in US Treasuries from anyone lately, nor have they orchestrated a government takeover and confiscated Venezuelan gold out of London lately either - all while the US debt at higher and higher interest rates spirals further out of control and inflation continues to steal more and more purchasing power away from normal working people.
The banks create a loan and call it an "asset" based on indentured servitude while the "money" that the bankers certainly didn't have to sweat for - comes from out of nowhere.
And GF worries about "trust"? Even GF won't like it when he's forced to adopt programmable money and then finds out what capital controls mean.
I knew it would happen.
It's always a matter of degree.
Do I trust our free market system of checks and balances and ultimate governance by elected officials to a greater degree than China?...Yes I do.
Global gold ETFs took in $18 billion in August, the second-largest monthly inflow on record.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
It's always a matter of degree.
Do I trust our free market system of checks and balances and ultimate governance by elected officials to a greater degree than China?...Yes I do.
Don't be lulled into a false sense of security. If you haven't read "The Great Taking", I urge you to get a copy and read it.
I knew it would happen.
If China thinks they will have more legitimacy as a ROW reserve currency, they are not being realistic.
Autocratic regimes cannot survive the perception of a unilateral decision-making mistake, with no correction mechanism.
Witness the Covid lockdown, real estate financing debacle. Pay attention to how many successful Chinese businessmen have been jailed for "provoking trouble".
As long as the US continues to weaponize it's currency, nation's that fear losing US love will seek a viable alternative. This is why BRICS is finding legitimacy in the East.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
A Bond Crash Will Wipe Out Trillions
"Because soaring yields can tank stocks -- and gold. They can trigger bank failures like in 2023 when Jerome Powell’s panic-hikes crashed bonds."
"What’s the end game? As alway, the money printer. Central banks step in and print money to buy government bonds."
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
Jack Ma, CEO of Alibaba, "disappeared" for a few months under house arrest.
Don't think CBs, SWFs, and Big Investors didn't notice.
The Chinese Communist Party collected "voluntary" contributions a few years ago amounting to tens of billions of dollars from companies. They literally stole assets on the balance sheets of BABA, etc.
They weren't panic hikes and a grand total of 3 -- T-H-R-E-E -- banks went under.
1930's: 8,000 banks went under
1980's: 3,000 banks went under
2008: 150 banks went under
202: 3 banks went under
They've been buying AI Bonds of late.
FED raised rates four times in 2023. How many does it take in one year to meet your definition of "panic hikes?" LOL
Bank failures of two or more should raise eyebrows of anyone with money in a bank.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
.
That hits close.
Knowledge is the enemy of fear
Bank failures happen every year. It's only during times of stress that folks like you notice.
Other businesses fail -- do you panic about them ? Dot.coms ? Software stocks ? AI stocks ? Covid stocks like BeyondMeat and Peloton ?
Lula won in Brazil and the market went down 20%. The guy who authorized a $2 billion refinery and then his party spent $38 billion on it and he said he'd "have to look at the bills" to see what went wrong.
Yes, that's a country folks are going to trust their money to.
for those that don't take early notice it will be too late to protect themselves when they finally do take notice.
business failures don't result in bank failures. Bank failures result in business failures, lots of them. When it comes to failure, you want the banks at the bottom of your wish list.
Governments can print currency. Only the people can print faith in it — and they’re running low on ink.
You forgot to mention PM dealers.
Knowledge is the enemy of fear
And now the loser has fled his own country. I guess he really was looking out for his fellow coutrymen. So much rhyming these days. Lol
Knowledge is the enemy of fear
I wouldn't trust the folks who looted Petrobras of tens of BILLIONS, either.