Fantastic, no, brilliant summary of the fine mess our βleadersβ have gotten us into. Plain, simple, and easy to understand. Do you think the Wall Street Journal would print it?
Yes, if Bill paid the Wall Street Journal (WSJ) by taking out an an ad in the paper. I wonder if this excellent piece might actually pay for itself as a WSJ ad by attracting enough WSJ readers to become paid subscribers to BPR.
Yet I'm inclined to think that WSJ would forego the few thousand dollars that they might make on advertising to avoid having to explain to the "elite" out there, why the hell they were letting the cat out of the bag.
Since the pandemic I have been watching RFK Jr and listening. He is the only Democrat I will listen too but could not vote for because the National Democratic Party would be in control. I have been a Libertarian minded person since Francis McBride threw his hat in the ring in 1976. Ever since I've been promoting their message. RFK Jr. has been such a breath of fresh air from a Democrat that I really like him and his willingness to speak truth to power. If he could ever harness the youth in this Nation watch-out because if I like him then the Independents would too.
I'm buying your new version of Win Win because I love you guys so much, and RFK's Fauci book was also very good.
I sense that Kennedy is different than either of those two...people. He has gone against the direction of his own party, and, while not an 'anti-vaxxer,' might as well be. I too don't like Kennedy's, democrats, or republicans, for that matter - I call them republicrats - but would rather see Kennedy as president than uncle Joe. I'm really hoping Trump will be elected to a third term, so government "progress" will stop for the following four years.
I hope Mr. Kennedy reads Bill's response and takes it to heart. Does anyone in official Washington subscribe to BPR or read Bill's free daily Substack missives? Sadly, I doubt it.
Mr. Baldwin, I think they do, and have for many years. But I think they're afraid to publicly acknowledge Bill's writings, for many reasons. The main reason is obviously fear of losing wealth and power. But good to see Mr. Kennedy doing this. It's been ten years since Dr. Ron Paul was in Congress.
I don't think Mr Kennedy stands a snowballs chance in hell to nominated for high political office; even less if he starts blaming the Fed for its easy money for too long program.
Bill Bonner's rare talent explaining the mechanics of money and banking in understandable terms would be persuasive, but not Candidate Kennedy.
The former has been at this for a lifetime; Mr. Kennedy as of last week
What a beautiful and simple analogy for what money truly is and what the effect of printing "extra" money does:
"Money is just a way of keeping track of who owes what to whom, like tickets in a parking garage. βFinancializationβ is what happens when you add tickets; you go to get your car and find that someone else has driven away in it."
"The effect of these two policy changes β the βflexibleβ post-1971 dollarβ¦and ultra-low interest rates β was exhilarating to the rich. But devastating to everyone else. A family in the top 1% now has 680 times as much wealth as one in the bottom 50%."
You expect Mr. Kennedy to get on board with this? He was one of the primary beneficiaries of it! Best always. PM
"Them's what has, gits!" - - Mammy Yokum (Al Capp)
I donβt think any of us comprehend the pain of what is ahead or want to have to deal with it in practical real terms. And, we understand better than most what is ahead because we are here with BPR. I canβt imagine anything for the Fed other than continuing low interest rates and ignoring true inflation as long as possible. What else can the Fed do? No one wants riots and violence like in Greece.
No wants riots and violence like Greece, nor do we want a CBDC forced "bail in", similar to what happened in Cypress several years ago. With what's happening at the Southern Border, the FBI stonewalling the Congressional Committee over the whistleblower's document and the main stream media reporting on The Demented One's approval ratings being the lowest ever for this juncture in a presidency, things are starting to get really interesting.
Very interesting. I think to put the debt numbers in understandable context if you converted dollars into seconds it goes like this: One million seconds is a little under 12 days; One billion seconds is a little under 32 years; One trillion seconds is a little under 32,000 years. so a trillion dollars here and there is a bit more than you might think...
And, if we were paying off that debt at $32 per second, it would take 32,000 years to pay it off (assuming balanced budgets, of course). But we are adding to it at about $100,000 per second!
It's OK. The chaos at the border is going to overwhelm everything. By the time the FED dilly-dallies its way to a timid continuation of the scam, the country will be fragmented, or as my Mom would say, "at sixes and sevens", and possibly in flames over the social undoing at our our very doorsteps. I wish that our feckless and incompetent government could be exposed at a less than fatal cost, but, oh, well...
Simply put what is your house or car worth, or for that matter a picture of a Campbell's soap can, when the dollar goes to zero?
In 1968 my uncle bought what would be my first car, a 1963 Mercury Meteor. He paid $150 of real money for the car. In 1973 after that car sat half in and out of a chicken coup in Delaware, while its trunk acted as a tool box and the rear hood acted as a work bench, he got the idea of selling for a quick buck. With a nice job I was flush with cash and he saw a buyer. Sight unseen, but with great assurances the low mileage car was bought again sight unseen for $150 with less valuable dollars.
After some bodywork, brakes, tires, hoses and a $57 Earl Scheib paint job, totaling 3 weeks of work and drinking beer it was on the road. I drove that car until 1982 and sold it for $600 to a friend who put in the garage as a future project. 2 years ago he gave up on the idea of restoring the wreck and sold if for $16,700.
Now, if anyone thinks an unrestored beater of a Mercury would sell for that number with pre Nixon dollars then I got a bridge in NY for sale.
Abolishing the Federal Reserve is not a solution. Better to replace the entire fractional reserve system with true Public Banks. Start at state level. See Public Banking Institute. https://publicbankinginstitute.org/
You wrote: "10-year Treasury bond yields are 5 times higher than they were just two years ago". That means that the T-bond yields are six times as high as they were two years ago. You made the same type statement earlier in the essay. I'm sure that, as a professional writer, you can see the difference and want to express statistics carefully.
Ok, good so far. But the message to date is get rid of the FED. I hope thereβs more behind the scenes discussion of what actually would resolve the problem. What would be worse, the FED or a CBDC?
Love to think there are other options, but if the proposition that βthe Fed has to goβ where put to congress do you think they would do anything else but put a CBDC in place?
I think the perfect presidential ticket for 2024 Trump/Kennedy. Trump could pull off the first mixed political ticket in history. God knows Kennedy is closer to being a true conservative than Trump.
Fantastic, no, brilliant summary of the fine mess our βleadersβ have gotten us into. Plain, simple, and easy to understand. Do you think the Wall Street Journal would print it?
Yes, if Bill paid the Wall Street Journal (WSJ) by taking out an an ad in the paper. I wonder if this excellent piece might actually pay for itself as a WSJ ad by attracting enough WSJ readers to become paid subscribers to BPR.
Nice idea.
Yet I'm inclined to think that WSJ would forego the few thousand dollars that they might make on advertising to avoid having to explain to the "elite" out there, why the hell they were letting the cat out of the bag.
Bite the hand that feeds? LoL.
They'd sooner eat their own arms.
Since the pandemic I have been watching RFK Jr and listening. He is the only Democrat I will listen too but could not vote for because the National Democratic Party would be in control. I have been a Libertarian minded person since Francis McBride threw his hat in the ring in 1976. Ever since I've been promoting their message. RFK Jr. has been such a breath of fresh air from a Democrat that I really like him and his willingness to speak truth to power. If he could ever harness the youth in this Nation watch-out because if I like him then the Independents would too.
I'm buying your new version of Win Win because I love you guys so much, and RFK's Fauci book was also very good.
So did, and was 'a breath of fresh air', Bill Clinton and Obama.
Sucker. (respectfully)
I sense that Kennedy is different than either of those two...people. He has gone against the direction of his own party, and, while not an 'anti-vaxxer,' might as well be. I too don't like Kennedy's, democrats, or republicans, for that matter - I call them republicrats - but would rather see Kennedy as president than uncle Joe. I'm really hoping Trump will be elected to a third term, so government "progress" will stop for the following four years.
We all have opinions. Facts matter.
Donald Trump is not marketable anymore. The media machines will torcher the world the entire journey to elections. Again and will be disastrous.
This is a constitutional crisis.
I don't think you're getting it. Remember, the situation is hopeless, but not serious. Repeat that over and over to yourself and you'll be ok.
Okay, thanks. Looking forward to more of your wisdom.
You are very welcome. I'm sure you're feeling better already. :)
Thanks Clem.
I hope Mr. Kennedy reads Bill's response and takes it to heart. Does anyone in official Washington subscribe to BPR or read Bill's free daily Substack missives? Sadly, I doubt it.
Mr. Baldwin, I think they do, and have for many years. But I think they're afraid to publicly acknowledge Bill's writings, for many reasons. The main reason is obviously fear of losing wealth and power. But good to see Mr. Kennedy doing this. It's been ten years since Dr. Ron Paul was in Congress.
I hope you are right! I miss Ron Paul.
I don't think Mr Kennedy stands a snowballs chance in hell to nominated for high political office; even less if he starts blaming the Fed for its easy money for too long program.
Bill Bonner's rare talent explaining the mechanics of money and banking in understandable terms would be persuasive, but not Candidate Kennedy.
The former has been at this for a lifetime; Mr. Kennedy as of last week
What a beautiful and simple analogy for what money truly is and what the effect of printing "extra" money does:
"Money is just a way of keeping track of who owes what to whom, like tickets in a parking garage. βFinancializationβ is what happens when you add tickets; you go to get your car and find that someone else has driven away in it."
Brilliant.
Hereβs the root cause of our problems. Where do you think we are on this spectrum?
No God, No Good <-----------------------------------------------> Know God, Know Good
Exactly right.
"The effect of these two policy changes β the βflexibleβ post-1971 dollarβ¦and ultra-low interest rates β was exhilarating to the rich. But devastating to everyone else. A family in the top 1% now has 680 times as much wealth as one in the bottom 50%."
You expect Mr. Kennedy to get on board with this? He was one of the primary beneficiaries of it! Best always. PM
"Them's what has, gits!" - - Mammy Yokum (Al Capp)
I donβt think any of us comprehend the pain of what is ahead or want to have to deal with it in practical real terms. And, we understand better than most what is ahead because we are here with BPR. I canβt imagine anything for the Fed other than continuing low interest rates and ignoring true inflation as long as possible. What else can the Fed do? No one wants riots and violence like in Greece.
No wants riots and violence like Greece, nor do we want a CBDC forced "bail in", similar to what happened in Cypress several years ago. With what's happening at the Southern Border, the FBI stonewalling the Congressional Committee over the whistleblower's document and the main stream media reporting on The Demented One's approval ratings being the lowest ever for this juncture in a presidency, things are starting to get really interesting.
Very interesting. I think to put the debt numbers in understandable context if you converted dollars into seconds it goes like this: One million seconds is a little under 12 days; One billion seconds is a little under 32 years; One trillion seconds is a little under 32,000 years. so a trillion dollars here and there is a bit more than you might think...
And, if we were paying off that debt at $32 per second, it would take 32,000 years to pay it off (assuming balanced budgets, of course). But we are adding to it at about $100,000 per second!
It's OK. The chaos at the border is going to overwhelm everything. By the time the FED dilly-dallies its way to a timid continuation of the scam, the country will be fragmented, or as my Mom would say, "at sixes and sevens", and possibly in flames over the social undoing at our our very doorsteps. I wish that our feckless and incompetent government could be exposed at a less than fatal cost, but, oh, well...
Simply put what is your house or car worth, or for that matter a picture of a Campbell's soap can, when the dollar goes to zero?
In 1968 my uncle bought what would be my first car, a 1963 Mercury Meteor. He paid $150 of real money for the car. In 1973 after that car sat half in and out of a chicken coup in Delaware, while its trunk acted as a tool box and the rear hood acted as a work bench, he got the idea of selling for a quick buck. With a nice job I was flush with cash and he saw a buyer. Sight unseen, but with great assurances the low mileage car was bought again sight unseen for $150 with less valuable dollars.
After some bodywork, brakes, tires, hoses and a $57 Earl Scheib paint job, totaling 3 weeks of work and drinking beer it was on the road. I drove that car until 1982 and sold it for $600 to a friend who put in the garage as a future project. 2 years ago he gave up on the idea of restoring the wreck and sold if for $16,700.
Now, if anyone thinks an unrestored beater of a Mercury would sell for that number with pre Nixon dollars then I got a bridge in NY for sale.
Excellent summary
Abolishing the Federal Reserve is not a solution. Better to replace the entire fractional reserve system with true Public Banks. Start at state level. See Public Banking Institute. https://publicbankinginstitute.org/
You wrote: "10-year Treasury bond yields are 5 times higher than they were just two years ago". That means that the T-bond yields are six times as high as they were two years ago. You made the same type statement earlier in the essay. I'm sure that, as a professional writer, you can see the difference and want to express statistics carefully.
Hebron Cutrer
San Antonio, Texas
Ok, good so far. But the message to date is get rid of the FED. I hope thereβs more behind the scenes discussion of what actually would resolve the problem. What would be worse, the FED or a CBDC?
Hey Wes. Why should we have to have either?
Love to think there are other options, but if the proposition that βthe Fed has to goβ where put to congress do you think they would do anything else but put a CBDC in place?
There should be neither. Sound money.
Agreed, but there ainβt anyway the legislature will make it happen.
Much agreed, sir, these people are certainly pigs.
I think the perfect presidential ticket for 2024 Trump/Kennedy. Trump could pull off the first mixed political ticket in history. God knows Kennedy is closer to being a true conservative than Trump.