In the boom, low-cost imports held down US consumer prices. Now, immigrants — legal and illegal — have poured across the border and are willing to work for less, thus holding down wages and inflation.
Yes Bill, all this fake news is nothing but our new truth. Facts never mattered to the communist, it’s the lie that keeps the sheep in check, and keeps the government safe from revolution. 30 million illegals sucking off the system, unable to work due to our I9 laws and causing extreme havoc in our democrat/communist controlled cities proves without a question of doubt, that America has been taken over, and “Fundamentally Transformed” into this third world shithole. I know you dear readers living in the Burbs don’t yet fully understand what has happened, only seeing a few signs of our demise, but when you look at the beggars on the street corners, the tents in the back woods, and the increase in crime in all neighborhoods, know this is only the beginning. Still time to prepare yourself and family for next year’s collapse, so use your time wisely, enjoy these beautiful moments today, and prepare for tomorrow 🙏
💯 Steve re: “…million illegals sucking off the system…”. Biden’s admin did not successfully relocate our allies & Afghan cooperators in the August 2021 debacle by POTUS 46, who’s failure to orchestrate an urgent and orderly exit from Afghanistan.
It is equally unlikely any future POTUS’ admin (regardless of rhetoric & promisory campaign assertions) hereafter will orchestrate an urgent and orderly removal of illegals immigrants from the U.S., right. No? Well then, there’s this to ponder:
Yes brother, a totally controlled and coordinated attack on our nation, created by the most corrupt democratic/communist organization in our history. Everyday is history in the making, and nothing in world history compares to the obvious destruction of America and the disembowelment of our constitution.
The biggest lie that I see is the whole GDP thing. Why is Govt spending included? It is stolen money and it is then sent out of planes to kill people or handed to various leeches at the trough. Of course the govt being in charge of such statistics, like in charge of "our money" is the fatal flaw that will allow the tree to look great right until it topples over.
Agree 100% … GDP as measured (whatever that includes) is a joke… but the first thing one should do is simply deduct the increase in national debt from GDP and then we might half there…
Agree 100% … GDP as measured (whatever that includes) is a joke… but the first thing one should do is simply deduct the increase in national debt from GDP and then we might half there…
I agree with your conclusion Bill. Despite knowing how entirely painful it is going to be I'd like to get this financial conflagration behind us-- so much deadwood has built up in the financial system it is going to be a doozy. It can't be fixed entirely without sound money... which will only happen when the charlatans in DC are left with no other choice.
To: Ol' Wise Bill and the rest of us proles loving our daily musings. Question: Say the US has a total debt of 100T, no make it 200T - how much would gold have to be to have the currency 100% backed by gold? Just asking.........Warning - you will be shocked!
Ol’ LSO posits such an interesting and provocative comment today. Which reminds me of an Alasdair Macleod-ism “…selling dollars…” to buy a hard asset. Worth-less confetti 0.04¢ depressed\devalued paper i.o.u. notes in exchange for something(s) worthmore; @ todays spot price of $2,328 for Au or $29..81 for Ag. Quite a bargain.
Just as in the board game of Monopoly®️ wherein there is the game’s little paper faux money and little board game (token) green & red buildings pieces etc.
Gone Fishin' - an add query for your agile mind. Given the BRICS are hell-bent on escaping the US$ hegemony and have indicated they are preparing a BRICS currency backed by gold, what pray-tell is your guess of where the price of gold must go?
It’s a very fair question LSO. Thanks for asking. My s.w.a.g.- priced a lot more than now.
Frankly, I cannot realistically fathom, psychologically, a price point for a fair spot price for Au. Right now there’s too much for me to conflate. Same holds true for me about Ag. I just do not know about bullion. Numismatic old and ancient coins; the premiums over spot melt, wildly more.
There is a finite above ground amount of both Au & Ag…and other elements. Platinum (Pl) for example is 30X more rare than Au. There are historic ratio charts for these elements which can help discern how things have shaped up.
An Olympic size swimming will hold the world’s entire above ground mined Au, and the same sized pool filled with silver would be ankle deep…so I’ve heard.
Rick Rule, Doug Casey, Jim Rickards, and many others have weighed in on your question before. Doesn’t a good deal of this depend on what we are comparing it to? Examples, gold-to-silver ratio, DJIA-to-gold ratio. 2 weeks ago, I could have exchanged (2) 1/2 ounce (scarce MS) gold Canadian Maple Leaf coins for ~ (4) 1 oz platinum Suisse bars and the dealer would write me a check for the difference.
Gone, the question was meant to be a head shaker. Richards says to 40% back current existing U.S. currency, the price for Au would need to rise almost to $28k. Could that happen.........hard to imagine but "quien sabe" as the saying goes south of the Rio. I think we can agree with all the shenigans going on by the U.S. Government, nothing is out of the question. Prepare is my focus. 1.) Au and Ag, 2.) Don't live in a Big City, 3.) have some protection, and 4.) some freeze-dried food for some period of time. Live where it gets cold - ? Pondering this a long time and there are way too many variables to take a guess as what the "straw" is going to be.
I have an afterthought. In addition to us, other readers may also want to check out Charles Vollum’s Priced in Gold http://pricedingold.com/
I get a 1X weekly email push from Vollum. He uses tidy displays of (True Prices as Measured in Gold) PM’s, commodities, etc.
So, so true about prepping; Vollum’s True Price in Au has a real head shaker shown in the “half-life of the U.S. dollar” and check out “ Whole Milk Powder, since 2008”.
Where or what is the “external force” that can or will change the direction of these trends? It seems that the more massive the problem, i.e., debt, the more catastrophic the cure. I wonder if built into the problem itself is the solution. Do implosions happen on their own? Maybe debt is similar to structures built on sinkholes. At some point they cave in from their own weight. Then what? Is our way of life to be swallowed by a self-created black hole? It seems like we’re already in this hole of our own creating.
Wars have historically been the great resets. This may be the current conclusion and central plan of the oligarchs and autocrats. They may have concluded that the attempt to engineer a ‘Great Reset’ without a world war(which may or may not have been the plan) was not working, was not going to work, and besides there is fighting at the top to determine who is in charge. So here we are on the very brink of WWIII, another news item we hear little or nothing about in legacy media. This is megapolitics after all, and there appears to be a grand contest underway as to who(East or West) is going to be atop the New World Order. This is happening quite separate from the other “War” which both sides have waged against the people - a spotty Genocide by the Eastern side against dissidents and a Democide waged by the western side against its entire population(for the purpose of drastically reducing it). So this is 3D chess and it surely is one gigantic mess. It cannot end well. I suggest lots of prayer, for only God can sort such a mess out, which He will. And a bolt-hole.
East vs West is not geographically accurate, certainly not precise. The real point is the powerful world is bipolar(again) with China having replaced the USSR and Russia having joined China in the contest. The US is being destroyed primarily from the inside, a fact which remains a nonsensical conundrum(IMO) in this entire megapolitical scheme. Arguably Germany is the only other country on the planet committing a similar suicide. Others may add France and the UK. Can you imagine China or Russia ever committing a deliberate suicide? That’s what we are doing.
💯Good one Brien! More nails and another hammer for your remarks with this gem from Jayant (pronounced like giant) Bhandari: The West is Wrong About China (June 13, 2024) https://youtu.be/b5dAVUt1xmw
Summary
East Asia’s refusal to accept the mistakes of the West, along with their superior infrastructure and societal homogeneity, will lead to the decline and destruction of the Western countries.
Spoiler: Takeaway - Absence of Cultural Homogeneity
Yes Brian, Russia and China already survived the suicide stage, at the cost of over a hundred million souls. America has been guided by both these outside forces, and now has lost its ability to regain our moral strength due to the corruption from within, bought and paid for by the communist.
I believe it's not going to end well, just from our current standpoint and what we've witnessed over these past few decades, but like I always say, still have time to educate those willing to learn, and ready for the coming storm:)
Not a criticism Steve, just an observation. Sadly & soberingly; time has run its course to its logical conclusion for “… time to educate those willing to learn…”
Mao Zedong proved a 180° turnaround is a decade(s) long futility. Even when wonderful glowing leader tyrant has a whole damnable Cultural Revolution (a.k.a. Great Proletarian Cultural Revolution) sociopolitical movement. Even the genocidal Mao could not get it done in his final 10 year of his life (1966 until his death in 1976).
"...but as much as $50 trillion in US fraudulent wealth could disappear — in defaults, bankruptcies, write-downs, mark-downs, and inflation — as the Primary Trend continues."
Could you tell me what the government's rebuttal to this is? What is the prole's rebuttal to this?? For those of us who believe BB's Treatis is accurate, our expectation of any future are gone. The only satisfaction I have left before reaching home plate is hearing what they have to say.
My take from the suburbs of Philadelphia. John mowed our lawn for $30 a cut for 25 years, during Covid he cowered in his basement. Joe Biden threw $50k his way, he never took up the mantle of mowing again.
Today Jesus mows our lawn, edges, and trims the bushes, and all for $35 a visit. If Joe really had in mind helping migrants they'd be required to attend English lessons, followed by a course in basic finance.
Yes Bill, all this fake news is nothing but our new truth. Facts never mattered to the communist, it’s the lie that keeps the sheep in check, and keeps the government safe from revolution. 30 million illegals sucking off the system, unable to work due to our I9 laws and causing extreme havoc in our democrat/communist controlled cities proves without a question of doubt, that America has been taken over, and “Fundamentally Transformed” into this third world shithole. I know you dear readers living in the Burbs don’t yet fully understand what has happened, only seeing a few signs of our demise, but when you look at the beggars on the street corners, the tents in the back woods, and the increase in crime in all neighborhoods, know this is only the beginning. Still time to prepare yourself and family for next year’s collapse, so use your time wisely, enjoy these beautiful moments today, and prepare for tomorrow 🙏
Perhaps Bill could carve out a small subdivision on his 100,000 acre ranch for his loyal subscribers? Bill Bonner’s Bolthole Estates?
Nice thought Mark, but I believe Bill has his escape holes to get away from idiots like us🤔
With 150+ square miles, he’d never know we were there!
🤔
There’s Doug Casey’ Estancia de Cafayate which is not too far.
💯 Steve re: “…million illegals sucking off the system…”. Biden’s admin did not successfully relocate our allies & Afghan cooperators in the August 2021 debacle by POTUS 46, who’s failure to orchestrate an urgent and orderly exit from Afghanistan.
It is equally unlikely any future POTUS’ admin (regardless of rhetoric & promisory campaign assertions) hereafter will orchestrate an urgent and orderly removal of illegals immigrants from the U.S., right. No? Well then, there’s this to ponder:
Verified Numbers: Immigration & Customs Enforcement (I.C.E.) ice.gov Docket Non-Detained (not-citizens)
▫️FY 2018: 2,641,589
▫️FY 2019: 3,274,244
▫️FY 2020: 3,262,680
▫️FY 2021: 3,685,85
▫️FY 2022: 4,759,560
▫️FY 2023: 6,199,629
▫️YTD 2024: 7,400,000
▫️7 year Total : 24,563,558
Yes brother, a totally controlled and coordinated attack on our nation, created by the most corrupt democratic/communist organization in our history. Everyday is history in the making, and nothing in world history compares to the obvious destruction of America and the disembowelment of our constitution.
The biggest lie that I see is the whole GDP thing. Why is Govt spending included? It is stolen money and it is then sent out of planes to kill people or handed to various leeches at the trough. Of course the govt being in charge of such statistics, like in charge of "our money" is the fatal flaw that will allow the tree to look great right until it topples over.
I agree.
Government spending is not part of gross domestic product, it's taking money out of one hand and putting in another 0 net.
Agree 100% … GDP as measured (whatever that includes) is a joke… but the first thing one should do is simply deduct the increase in national debt from GDP and then we might half there…
Agree 100% … GDP as measured (whatever that includes) is a joke… but the first thing one should do is simply deduct the increase in national debt from GDP and then we might half there…
I agree with your conclusion Bill. Despite knowing how entirely painful it is going to be I'd like to get this financial conflagration behind us-- so much deadwood has built up in the financial system it is going to be a doozy. It can't be fixed entirely without sound money... which will only happen when the charlatans in DC are left with no other choice.
To: Ol' Wise Bill and the rest of us proles loving our daily musings. Question: Say the US has a total debt of 100T, no make it 200T - how much would gold have to be to have the currency 100% backed by gold? Just asking.........Warning - you will be shocked!
Want some hints: 1.) 8500 Troy Tons of Gold held by the U.S.; 2.) there are 32,150.7 troy ounces in a troy ton.
Indeed, excellent teaser.
Rickards laid out his calculations here - https://finance.yahoo.com/news/investing-guru-james-rickards-says-101500715.html
Ol’ LSO posits such an interesting and provocative comment today. Which reminds me of an Alasdair Macleod-ism “…selling dollars…” to buy a hard asset. Worth-less confetti 0.04¢ depressed\devalued paper i.o.u. notes in exchange for something(s) worthmore; @ todays spot price of $2,328 for Au or $29..81 for Ag. Quite a bargain.
Just as in the board game of Monopoly®️ wherein there is the game’s little paper faux money and little board game (token) green & red buildings pieces etc.
Gone Fishin' - an add query for your agile mind. Given the BRICS are hell-bent on escaping the US$ hegemony and have indicated they are preparing a BRICS currency backed by gold, what pray-tell is your guess of where the price of gold must go?
It’s a very fair question LSO. Thanks for asking. My s.w.a.g.- priced a lot more than now.
Frankly, I cannot realistically fathom, psychologically, a price point for a fair spot price for Au. Right now there’s too much for me to conflate. Same holds true for me about Ag. I just do not know about bullion. Numismatic old and ancient coins; the premiums over spot melt, wildly more.
There is a finite above ground amount of both Au & Ag…and other elements. Platinum (Pl) for example is 30X more rare than Au. There are historic ratio charts for these elements which can help discern how things have shaped up.
An Olympic size swimming will hold the world’s entire above ground mined Au, and the same sized pool filled with silver would be ankle deep…so I’ve heard.
Rick Rule, Doug Casey, Jim Rickards, and many others have weighed in on your question before. Doesn’t a good deal of this depend on what we are comparing it to? Examples, gold-to-silver ratio, DJIA-to-gold ratio. 2 weeks ago, I could have exchanged (2) 1/2 ounce (scarce MS) gold Canadian Maple Leaf coins for ~ (4) 1 oz platinum Suisse bars and the dealer would write me a check for the difference.
Gone, the question was meant to be a head shaker. Richards says to 40% back current existing U.S. currency, the price for Au would need to rise almost to $28k. Could that happen.........hard to imagine but "quien sabe" as the saying goes south of the Rio. I think we can agree with all the shenigans going on by the U.S. Government, nothing is out of the question. Prepare is my focus. 1.) Au and Ag, 2.) Don't live in a Big City, 3.) have some protection, and 4.) some freeze-dried food for some period of time. Live where it gets cold - ? Pondering this a long time and there are way too many variables to take a guess as what the "straw" is going to be.
▫️ https://tinyurl.com/5996r4en - historical fiat’s
▫️ https://tinyurl.com/6nhn8ncc - fiat’s demise
Roadmaps to the greenbacks destination
Head shaker is right. And too, "quien sabe".
I have an afterthought. In addition to us, other readers may also want to check out Charles Vollum’s Priced in Gold http://pricedingold.com/
I get a 1X weekly email push from Vollum. He uses tidy displays of (True Prices as Measured in Gold) PM’s, commodities, etc.
So, so true about prepping; Vollum’s True Price in Au has a real head shaker shown in the “half-life of the U.S. dollar” and check out “ Whole Milk Powder, since 2008”.
Best Regards,
Mark
Where or what is the “external force” that can or will change the direction of these trends? It seems that the more massive the problem, i.e., debt, the more catastrophic the cure. I wonder if built into the problem itself is the solution. Do implosions happen on their own? Maybe debt is similar to structures built on sinkholes. At some point they cave in from their own weight. Then what? Is our way of life to be swallowed by a self-created black hole? It seems like we’re already in this hole of our own creating.
Wars have historically been the great resets. This may be the current conclusion and central plan of the oligarchs and autocrats. They may have concluded that the attempt to engineer a ‘Great Reset’ without a world war(which may or may not have been the plan) was not working, was not going to work, and besides there is fighting at the top to determine who is in charge. So here we are on the very brink of WWIII, another news item we hear little or nothing about in legacy media. This is megapolitics after all, and there appears to be a grand contest underway as to who(East or West) is going to be atop the New World Order. This is happening quite separate from the other “War” which both sides have waged against the people - a spotty Genocide by the Eastern side against dissidents and a Democide waged by the western side against its entire population(for the purpose of drastically reducing it). So this is 3D chess and it surely is one gigantic mess. It cannot end well. I suggest lots of prayer, for only God can sort such a mess out, which He will. And a bolt-hole.
East vs West is not geographically accurate, certainly not precise. The real point is the powerful world is bipolar(again) with China having replaced the USSR and Russia having joined China in the contest. The US is being destroyed primarily from the inside, a fact which remains a nonsensical conundrum(IMO) in this entire megapolitical scheme. Arguably Germany is the only other country on the planet committing a similar suicide. Others may add France and the UK. Can you imagine China or Russia ever committing a deliberate suicide? That’s what we are doing.
💯Good one Brien! More nails and another hammer for your remarks with this gem from Jayant (pronounced like giant) Bhandari: The West is Wrong About China (June 13, 2024) https://youtu.be/b5dAVUt1xmw
Summary
East Asia’s refusal to accept the mistakes of the West, along with their superior infrastructure and societal homogeneity, will lead to the decline and destruction of the Western countries.
Spoiler: Takeaway - Absence of Cultural Homogeneity
Cultural Homogeneity? Aren’t we all black🤔
Welllll, anyone can tune In to Charlamagne Tha God on “The Breakfast Club.” and opt-in or opt-out to accept or reject POTUS 46’s …oh, never mind…TDS!
Yes Brian, Russia and China already survived the suicide stage, at the cost of over a hundred million souls. America has been guided by both these outside forces, and now has lost its ability to regain our moral strength due to the corruption from within, bought and paid for by the communist.
I believe it's not going to end well, just from our current standpoint and what we've witnessed over these past few decades, but like I always say, still have time to educate those willing to learn, and ready for the coming storm:)
Not a criticism Steve, just an observation. Sadly & soberingly; time has run its course to its logical conclusion for “… time to educate those willing to learn…”
Mao Zedong proved a 180° turnaround is a decade(s) long futility. Even when wonderful glowing leader tyrant has a whole damnable Cultural Revolution (a.k.a. Great Proletarian Cultural Revolution) sociopolitical movement. Even the genocidal Mao could not get it done in his final 10 year of his life (1966 until his death in 1976).
I think all you can do is keep your wealth in real assets like gold. “Think like an Argentine.”
"...but as much as $50 trillion in US fraudulent wealth could disappear — in defaults, bankruptcies, write-downs, mark-downs, and inflation — as the Primary Trend continues."
Could you tell me what the government's rebuttal to this is? What is the prole's rebuttal to this?? For those of us who believe BB's Treatis is accurate, our expectation of any future are gone. The only satisfaction I have left before reaching home plate is hearing what they have to say.
My take from the suburbs of Philadelphia. John mowed our lawn for $30 a cut for 25 years, during Covid he cowered in his basement. Joe Biden threw $50k his way, he never took up the mantle of mowing again.
Today Jesus mows our lawn, edges, and trims the bushes, and all for $35 a visit. If Joe really had in mind helping migrants they'd be required to attend English lessons, followed by a course in basic finance.