The new credit-based dollar created a credit-based economy, which grew by borrowing money that didn’t exist. Real money must represent goods, services, and real assets.
Do we need to know "exactly"? The dollar now is only worth 2 or 3 cents of what it once was. I think the path is demonstrably clear. It's going to functional-zero. It probably has a half-life, so, a half of a half of a half will never get us completely to zero, but it will be functionally as if it's really zero. It's damn near that now. You're not bankrupt, if your creditors don't call the debt. If they are willing to finance you in perpetuity, you can skate. Think about that. This country has been skating for quite some time now. Best always. PM
"Last week, Tom and Dan showed a chart, revealing the true value of America’s treasury debt. Adjusting current values to inflation (as measured by gold, not the CPI) we see that the real value of America’s debt has declined by about 75% since 1999 and by nearly 30% since bonds topped out in July 2020."
This seems to mean that the debt we and our children have to pay has been decreased by those big percentages, which is good for the children. It would seem to be bad for the banks'/Fed's future earnings from the national debt. Their past earnings have also lost to inflation, but are still in their pockets, 100 million per top effete rich capita.
EXACTLY PAUL. BILL TOLD US BACK ON APRIL 8TH, THAT THE U.S. WILL REACH A TIPPING POINT DURING THE NEXT PRESIDENTIAL TERM. TODAY BILL TELLS US THAT TOM DYSON SAYS THAT THE U.S. MAY HAVE ALREADY ENTERED A DEATH SPIRAL. WE NEED BLATHER NO MORE ABOUT INFATION, DEFLATION, CURRECY DEBASEMENT, INTEREST RATES, ETC. AD INFINITUM.
WE NEED TO RECOGNIZE THAT THE U.S. GOVERMENT HAS BEEN USURPED. THE EVIL FORCES NOW RUNNING THE GOVERNMENT ARE OFTEN CALLED THE DEEP STATE. THEY ARE MAINTAINING TH[S UNCONSTITUTIONAL CONTROL VIN A CORRUPTED TWO PAR SYSTEM WHICH HAS BEEN BOUGHT AND PAID FOR VIA LEGALIZED BRIBERY.
EINSTEIN SAID THAT TO KEEP DOING THE SAME THING REPEATEDLY, AND EXPECT A DIFFERENT RESULT IS INSANITY.
IT IS SIMPLE. WE MUST ABANDON THE THOROUGHLY CORRUPTRD TWO PARTY SYSTEM, AND ELECT THIRD PARTY STATESMEN WHO CAN AND WILL WREST CONTROL OF GOVERNMRENT FROM THESE ALIEN, EVIL FORCES, AND RESTORE CONSITUTIONAL REPRESENTATIVE GOVERNMENT OF THE PEOPLE, BY THE PEOPLE, AND FOR THE PEOPLE. ACT TODAY. MORE LATER.
I have to call out and praise this phrase from Bill's writing today: "...and much of the US economy itself (GDP)… was ‘f’-ed up --…fictitious, fraudulent, or fantasy." Very clever, Bill.
"We don’t know exactly when, what or how this will play out." None of us do, of course. At the same time, I'd feel much better about our prospects if so many of those seemingly running this show didn't have such a casual approach about provoking great military and economic powers.
Mr Denning, with respect to your pithy question: “The S&P 500 is up 65%. Which asset class do you think will perform the best for the rest of 2024?”
Dunno if it will be the “best performing asset in 2024”; life sustaining, H2O. WATER. dihydrogen oxide.
Followed by, potatoes, whether naturally occurring, dehydrated, freeze dried, mashed, shredded, pearled, flaked, diced or sliced. Potatoes are Idaho's largest crop. 1/3 of the nation's potatoes are harvested by Idaho farmers who produce > 11 billion pounds annually.
The State of Idaho has an ongoing dwindling supply of water in the Eastern Snake Plain Aquifer. Water from the aquifer feeds the Snake River. Those with 1st water rights and with 2nd water rights are in a heated, acrimonious face off over “water curtailment”.
Originally, I was thinking about eggs. The eggs themselves are fragile, some egg ranch barns have had fires of undetermined origins and 100,000’s and layers have gone up in flames. I was also considering a few choice words re: bitcoin.
I’ll let Wall Street On Parade take a crack at bitcoin… “Crypto Just Got Exponentially More Dangerous”
The first thing you need to know about crypto is that some of the smartest minds in investment and technology have studied crypto carefully and determined it’s a total sham. In July 2019, NYU Professor and economist Nouriel Roubini summed up [...]
Thanks for sharing the link Clem. There had been avian flu awhile here in the States back in Feb 2022. It was devastating. A buddy’s hobby farm lost ~ 50% of his birds. Nice find.
Many excellent points today. One additional thought: I wonder how much our fractional reserve banking system plays into our debt problems and malinvestments?
Why start a manufacturing company and deal with government red tape and unions when you could simply borrow unanchored money and speculate …. as long as interest went down asset prices went up to …. like Bill says this was fraudulent wealth. But why did it go on for so long without causing inflation much earlier? Globalisation! What the West didn’t produce the East did on our behalf. The Chinese in particular believed in the good faith of the US $ until recently. But with the USA promoting war in the Ukraine and proclaiming sanctions against the very nations that send them containers full of goods the game has changed. The containers may still flow from East to West for a little while longer but only in exchange for gold not paper.
EXCELLENT BILL. AND COULD SOME EXPERT NUMBER CRUNCHER PLEASE TELL US THE ACTUAL, TELL US THE REAL "GDP". AFTER SUBTRACTING THE ROLLARS PAID BY CORPORATIONS AND INDIVIDUALS FOR ACCOUNTANTS, TAX LAWYERS, AND TAX PREPARERS TO KEEP US OUT OF JAIL FOR ALLEGED TAX EVASION. AND THEN DEDUCT THE DOLLARS SPENT FOR COMPLIANCE OFFICERS AND THEIR COHORTS(LAWYERS, CONSULTANTS, LOBBYISTS, TECHNICIANS, COMPUTER-DATA-IT-WHIZZES, SECRETARIES, TYPISTS, EXECUTIVE ASSISTANTS, TRANSLATOTS, ETC., ETC., ETC.---LITERALLY MILLIONS OF PEOPLE PAID TO KEEP US, THE PEOPLE, IN COMPLIANCE WITH GOVERNMENT PATD REGULATORS. AND THINK ABOUT IT---THE MAJOR PRODUCT FOR ALL THESE GDP DOLLARS IS HUMAN MISERY. PERHAPS THE MOST MISERABLE OF ALL ARE THE PEOPLE PERFORMING THESE MISERABE MENIAL, MINDLESS TASKS TO EARN ENOUGH "CREDITS" TO KEEP BODY AND SOUL TOGETHER. YES, THE LUNATICS HAVE TAKEN OVER THE ASYLUM, AND IS IT POSSIBLE THAT SOME OF THESE LUNATICS ARE TRULY INSANELY EVIL AND ACTING WITH EVIL INTENT? THAT IS ARE THEY INTENTIONAALLY TAKING THE AMERICAN DREAM TO THE NETHER WORLD?
AWAKEN, AND AWOKEN. WE HAVE BEEN LIED TO. WE HAVE BEEN CHEATED. MANY HAVE BEEN BRAINWASHED INTO WOKISM. WE ARE IN THE GRIP OF EVIL FORCES. OBSCENELY RICH EVIL FORCES. BUT, KEEP FAITH. GOOD WILL ALWAYS TRIUMPH OVER EVIL. MEN OF GOOD WILL MUST STAND, UNITRD, TO VANQUISH EVIL WHICH HAS STOLEN OUR TWO PARTY SYSTEM. IT HAS BEEN CORRUPTED TO ITS CORE VIA LEGALIZED BRIBERY.
STAND UNITED AND ELECT THIRD PARTY STATESMEN TO TAKE BACK AND RETURN US TO CONSTITUTIONAL GOVERNMENT. MORE LATER.
Do we need to know "exactly"? The dollar now is only worth 2 or 3 cents of what it once was. I think the path is demonstrably clear. It's going to functional-zero. It probably has a half-life, so, a half of a half of a half will never get us completely to zero, but it will be functionally as if it's really zero. It's damn near that now. You're not bankrupt, if your creditors don't call the debt. If they are willing to finance you in perpetuity, you can skate. Think about that. This country has been skating for quite some time now. Best always. PM
"Last week, Tom and Dan showed a chart, revealing the true value of America’s treasury debt. Adjusting current values to inflation (as measured by gold, not the CPI) we see that the real value of America’s debt has declined by about 75% since 1999 and by nearly 30% since bonds topped out in July 2020."
This seems to mean that the debt we and our children have to pay has been decreased by those big percentages, which is good for the children. It would seem to be bad for the banks'/Fed's future earnings from the national debt. Their past earnings have also lost to inflation, but are still in their pockets, 100 million per top effete rich capita.
Right?
EXACTLY PAUL. BILL TOLD US BACK ON APRIL 8TH, THAT THE U.S. WILL REACH A TIPPING POINT DURING THE NEXT PRESIDENTIAL TERM. TODAY BILL TELLS US THAT TOM DYSON SAYS THAT THE U.S. MAY HAVE ALREADY ENTERED A DEATH SPIRAL. WE NEED BLATHER NO MORE ABOUT INFATION, DEFLATION, CURRECY DEBASEMENT, INTEREST RATES, ETC. AD INFINITUM.
WE NEED TO RECOGNIZE THAT THE U.S. GOVERMENT HAS BEEN USURPED. THE EVIL FORCES NOW RUNNING THE GOVERNMENT ARE OFTEN CALLED THE DEEP STATE. THEY ARE MAINTAINING TH[S UNCONSTITUTIONAL CONTROL VIN A CORRUPTED TWO PAR SYSTEM WHICH HAS BEEN BOUGHT AND PAID FOR VIA LEGALIZED BRIBERY.
EINSTEIN SAID THAT TO KEEP DOING THE SAME THING REPEATEDLY, AND EXPECT A DIFFERENT RESULT IS INSANITY.
IT IS SIMPLE. WE MUST ABANDON THE THOROUGHLY CORRUPTRD TWO PARTY SYSTEM, AND ELECT THIRD PARTY STATESMEN WHO CAN AND WILL WREST CONTROL OF GOVERNMRENT FROM THESE ALIEN, EVIL FORCES, AND RESTORE CONSITUTIONAL REPRESENTATIVE GOVERNMENT OF THE PEOPLE, BY THE PEOPLE, AND FOR THE PEOPLE. ACT TODAY. MORE LATER.
SINCERELY,
LIAM
💯 Precisely‼️
I have to call out and praise this phrase from Bill's writing today: "...and much of the US economy itself (GDP)… was ‘f’-ed up --…fictitious, fraudulent, or fantasy." Very clever, Bill.
Asset class - Gold my vote. Oh and by the way guns an ammo may not be a bad idea to stock up on.
Government bonds: The 21st century version of return-free risk.
💯 Brilliant‼️
"We don’t know exactly when, what or how this will play out." None of us do, of course. At the same time, I'd feel much better about our prospects if so many of those seemingly running this show didn't have such a casual approach about provoking great military and economic powers.
Reading tea leaves - https://tinyurl.com/nha5u6x4
Spoiler Alert:
France's Macron: Defeated by Le Pen.
Germany's Scholz: TROUNCED
France: National Rally wins a historic 31.5% of the EU vote, forcing Macron to dissolve the national parliament.
Germany: AfD surges to become the 2nd largest party, liberal parties tank.
Belgium: Prime Minister resigns after his crushing defeat against the right.
Italy: Meloni's Brother of Italy wins in a historic landslide
Austria: FPÖ doubles their seats and becomes the largest party in the nation.
Spain: Right beating the left by 10%.
Luxemburg: First ever seat for ADR.
But the reality is Europe is a Failed State (see chart at this link -https://tinyurl.com/u8vp62ep )
That was encouraging. Thanks for sharing.
The Silver Academy is speaking the truth!
Even without personal debt, one’s ability to live is throttled by diminishing ROA. Assets, btw, that took a lifetime to earn.
I wonder what Vladimir Putin thinks of the safety of U.S. debt?
Mr Denning, with respect to your pithy question: “The S&P 500 is up 65%. Which asset class do you think will perform the best for the rest of 2024?”
Dunno if it will be the “best performing asset in 2024”; life sustaining, H2O. WATER. dihydrogen oxide.
Followed by, potatoes, whether naturally occurring, dehydrated, freeze dried, mashed, shredded, pearled, flaked, diced or sliced. Potatoes are Idaho's largest crop. 1/3 of the nation's potatoes are harvested by Idaho farmers who produce > 11 billion pounds annually.
The State of Idaho has an ongoing dwindling supply of water in the Eastern Snake Plain Aquifer. Water from the aquifer feeds the Snake River. Those with 1st water rights and with 2nd water rights are in a heated, acrimonious face off over “water curtailment”.
NET: the potatoes are already planted, the potatoes are sprouting and if those farmers have their water allotment curtailed… poof! The crop fails. Stay tuned - https://gov.idaho.gov/pressrelease/gov-littles-statement-on-progress-toward-proving-water-certainty-in-2024-irrigation-season/
Best Regards,
Mark
Mark, sounds like you should find a way to invest in Maine potatoes! As the #8 producer, we have plenty of water...
Originally, I was thinking about eggs. The eggs themselves are fragile, some egg ranch barns have had fires of undetermined origins and 100,000’s and layers have gone up in flames. I was also considering a few choice words re: bitcoin.
I’ll let Wall Street On Parade take a crack at bitcoin… “Crypto Just Got Exponentially More Dangerous”
https://wallstreetonparade.com/2024/06/crypto-just-got-exponentially-more-dangerous-meet-fairshake/ published by Pam Martens and Russ Martens: June 11, 2024
The first thing you need to know about crypto is that some of the smartest minds in investment and technology have studied crypto carefully and determined it’s a total sham. In July 2019, NYU Professor and economist Nouriel Roubini summed up [...]
https://www.sbs.com.au/news/article/farmers-warn-egg-prices-could-soar-after-500-000-chickens-culled-amid-bird-flu-outbreak/y0fp4lx3b
And the Gov is looking at banning cage eggs too.
Wow!
Thanks for sharing the link Clem. There had been avian flu awhile here in the States back in Feb 2022. It was devastating. A buddy’s hobby farm lost ~ 50% of his birds. Nice find.
Cheers,
Mark
Many excellent points today. One additional thought: I wonder how much our fractional reserve banking system plays into our debt problems and malinvestments?
Why start a manufacturing company and deal with government red tape and unions when you could simply borrow unanchored money and speculate …. as long as interest went down asset prices went up to …. like Bill says this was fraudulent wealth. But why did it go on for so long without causing inflation much earlier? Globalisation! What the West didn’t produce the East did on our behalf. The Chinese in particular believed in the good faith of the US $ until recently. But with the USA promoting war in the Ukraine and proclaiming sanctions against the very nations that send them containers full of goods the game has changed. The containers may still flow from East to West for a little while longer but only in exchange for gold not paper.
FORGIVE CAPS ALMOST BLIND
EXCELLENT BILL. AND COULD SOME EXPERT NUMBER CRUNCHER PLEASE TELL US THE ACTUAL, TELL US THE REAL "GDP". AFTER SUBTRACTING THE ROLLARS PAID BY CORPORATIONS AND INDIVIDUALS FOR ACCOUNTANTS, TAX LAWYERS, AND TAX PREPARERS TO KEEP US OUT OF JAIL FOR ALLEGED TAX EVASION. AND THEN DEDUCT THE DOLLARS SPENT FOR COMPLIANCE OFFICERS AND THEIR COHORTS(LAWYERS, CONSULTANTS, LOBBYISTS, TECHNICIANS, COMPUTER-DATA-IT-WHIZZES, SECRETARIES, TYPISTS, EXECUTIVE ASSISTANTS, TRANSLATOTS, ETC., ETC., ETC.---LITERALLY MILLIONS OF PEOPLE PAID TO KEEP US, THE PEOPLE, IN COMPLIANCE WITH GOVERNMENT PATD REGULATORS. AND THINK ABOUT IT---THE MAJOR PRODUCT FOR ALL THESE GDP DOLLARS IS HUMAN MISERY. PERHAPS THE MOST MISERABLE OF ALL ARE THE PEOPLE PERFORMING THESE MISERABE MENIAL, MINDLESS TASKS TO EARN ENOUGH "CREDITS" TO KEEP BODY AND SOUL TOGETHER. YES, THE LUNATICS HAVE TAKEN OVER THE ASYLUM, AND IS IT POSSIBLE THAT SOME OF THESE LUNATICS ARE TRULY INSANELY EVIL AND ACTING WITH EVIL INTENT? THAT IS ARE THEY INTENTIONAALLY TAKING THE AMERICAN DREAM TO THE NETHER WORLD?
AWAKEN, AND AWOKEN. WE HAVE BEEN LIED TO. WE HAVE BEEN CHEATED. MANY HAVE BEEN BRAINWASHED INTO WOKISM. WE ARE IN THE GRIP OF EVIL FORCES. OBSCENELY RICH EVIL FORCES. BUT, KEEP FAITH. GOOD WILL ALWAYS TRIUMPH OVER EVIL. MEN OF GOOD WILL MUST STAND, UNITRD, TO VANQUISH EVIL WHICH HAS STOLEN OUR TWO PARTY SYSTEM. IT HAS BEEN CORRUPTED TO ITS CORE VIA LEGALIZED BRIBERY.
STAND UNITED AND ELECT THIRD PARTY STATESMEN TO TAKE BACK AND RETURN US TO CONSTITUTIONAL GOVERNMENT. MORE LATER.
SINCERELY,
LIAM