27 Comments

I remember when Hugo Chavez said "we will nationalize the farms and then said we will nationalize the oil industry." Now they can't feed themselves and their oil business is in shambles. There is nothing new under the sun. Solomon said that, and he was correct. Biden is giving directions to our gas stations to lower the price of gas. What is next? Tell the grocery stores to lower food prices? We are not far from tumbling into the second level of the abyss they tell us we almost fell in. There may be no bottom!

When people get hungry, they get mad. Just sayin'

Don Harrell

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Hi Don -

This country is in desperate need of some Citizen Anger that will lead to some actual Citizen Action...

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Actually, I thought we would see some by now. But, this may not be fighting season yet. Must be the heat. lol

Don H

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Crypto was destined to arise from all things digital that could be scaled up, by the same minds that are bringing us metaverse. Brilliant for the innovators and astute pioneers, not so great for the masses to come after the party is over. Harness the internet, and get rich.. That's what they did.

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Jun 25, 2022·edited Jun 25, 2022

Don't count crypto out. The shake out in the stock market is a mirror of the crypto shake out. Long before the stimulus checks were sent out and long before the QE, crypto was created.

Mr, Market is chasing away (some with their loot) the whores. The idea of a financial system apart from the central banksters is not going away any time soon.

Digital crypto is a new platform based on a old model. The elites have always had their method of moving money outside of taxes and attachments. Their main source has been Art, buy a canvas splashed with paint for $2 million the world shouts: This is insane trash! Ship this art to Europe, auction if off for a million or more. The trash was just used as a means to move millions from the USA to where ever with no taxes and no eyebrows raised. Try stuffing a carry on with a million hard earned USD on your way to Europe. Crypto is worthless except as a means to move money over the globe outside of a central authority.

What is that worth?

One of my father's friends never packed a bag to travel, and did so all over the planet. He'd simply ship his luggage FedEx to his final destination. No one check the contents of his bangs at lease in the way out of America.

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The commodities market look under stress platinum could loose 15 % in one week and Australian dollars 10 % by end of June ....

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I am banking heavily on Dyson and you being right. Thankfully, I won't have to dump any real estate and people will be able to pay the reasonable rents I charge.

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You must have rental in some normal part of the Country. I sold 21 units to a hedge fund, and two houses to an investor from NY. Two houses to go, and my business property and I'm free of Philadelphia. You ask why I would sell properties grossing $13k a month? It's not what you make (gross) but what you keep. Philadelphia government has created multiple schemes to chip away at the net profit of my real estate. I raise rents to no avail a new fee, a new fine, a new regulation, all the while services shrink. Trash was part of the tax, now $300 per house per year. On and on, and now Covid short falls have spawned 50-100% tax increases.

The final straw landlords are no longer allowed to evict tenants without just cause. Evictions for non payment of rent hover at 6 months, resulting in unrecoverable rents.

Good timing pure luck, NY investors are buying my units for 10X what I paid in 2007. Good luck NY folks!

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Mine are in California and Nevada. I'd like to get out of the business of being a landlord, but I think that ship has sailed for the time being. Most people have no idea what it takes being a landlord (or being in any business for that matter).

A baboon can figure out how much a business grosses given a little time to observe. (I've been told that I sleep on a mattress made out of 100 dollar bills just because I own businesses.) What no one can assess, unless they get to see the books, is what it costs to run the business. And, like you said, it's all about the net, which is always much less than the ignorant perceive.

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Jun 25, 2022·edited Jun 26, 2022

If there were big bucks in landlording residential property why in heck did I buy so many properties over the years? I have a much wiser friend, he bought 10 houses over the course of 7 years, his cash flow for 15 years was near nothing, All are now free and clear. His plan was to retire on the much higher net profit. The 10 houses are worth just over $2 million, and yet with taxes repairs and management his cashflow is not enough to retire. All 10 houses are now for sale. He understands why over the last 30 years I bought and sold many of my properties. My route was to renovate hold and sell, when I thought the market at the top, wait for the bubble to burst (every 10 years) and then buy in again. I purchased two multi unit buildings back a few times. Currently the market in my area is beyond insane. I just sold a building for 15x what I paid 12 years ago, the buyer is putting down $2500, receiving a grant from the State for $10k and garnering a $3000 seller assist from me. Literally the guy is getting into this house for less than if he was a tenant paying 2 months deposit. After all the blame the last time the credit bubble burst the banks are doing the same but with buyers with slightly higher credit ratings. This buyer has a 690 credit score. My advice stay away from banking stocks :)

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I haven't owned any bank stock--ever:) Hopefully, your "wiser" friend liquidates his 10 houses before things really fall apart . . .

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I don't hold any bullion, (but I probably should), but I do have a lot of PHYS and mining stock.

Thomas' opinion on the gun case was absolutely brilliant. I haven't had a chance to delve into whether anything changed from the draft version that was leaked, but the ruling on Roe is simply common sense and its loyal to the Constitution. Now it will be interesting to watch how much sh*t hits the fan.

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Hopefully it's actually there. As Bill just said today, broken promises, contracts, etc. etc.

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“If you had bought crypto when we suggested”... huh, did I read that right? I do not recall Bill Bonner ever suggesting anyone should buy crypto. Unless you mean the 1% allocation you said in passing while disparaging crypto hahahaha, but go ahead and take credit. I’m a slightly disappointed, but not enough that I feel your thoughts lose value. I hope you share your thoughts for many many more years!

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I recall a video about ten years ago from Agora featuring Bill and a few others attempting to create a crypto wallet and buy some small amount of Bitcoin. He may have said throw a hundred bucks or a grand at it back then. I can’t recall exact dates and prices but somewhere south of $100 per BTC for sure.

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I think I like where Bill is heading with his last paragraph. It’s now all about manipulating perceptions, aka “trickery”. Works, until it doesn’t. Tic-tok.

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The supply side of food is in trouble, lag time of fertilizer deliveries, biocides to protect the weak crops, too much rain, not enough rain, extremes more than normal, war blockades, junk food hungry ass people, so much so that your food call is suspect. But hey, I have been learning growing mealybugs is fast, profitable, and nutritious to boot. So you might be inadvertently right.

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I bought one year of freeze dried food for 4. The process claims to the food will be edible for 25 years.

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I don't know. The problem I saw in that is what to do after its gone?

I am learning how to grow fresh healthy food and that's good for life.

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I think owning a year of food will provide an alternative to starvation while I figure that out.

Look at gold in the same way, gold will provide options to building wealth after the SHTF.

Creating a bolt hole in place via defensive measures coupled with actually getting to know one's neighbors is probably the best idea.

One could also create of find a sort of Camp John Galt.

For what it's worth: I'm not at all worried about how this is all going to end up. I know all how it's going to turn out. I know the timing the day and hour, and long ago prepared for the inevitable.

My preparations are not for me but for my family and grandchildren.

If I could only persuade these to at least seek the truth to go where the words lead, I'd not have a worry in the world. What is stopping them is what will stop you and probably ever person in this group including the well read and studied authors. As humans we are influenced by other humans we form opinions a safety net, a world view. We use this to navigate through life, form relationships, structure our family. We all we know is challenged even with inconvertible truth we attack the messenger. Few stop and take the time to examine the evidence and use it to make an informed rational decision.

This coming from a former stanch Republican, conservative, Roman Catholic, businessman, who had a single question that no one would or could answer. Finding the answer led me to understand every thing I had ever been taught and come to incorporate as my guiding principles was in fact a lie. Not that I had been purposely lied to by close family but that these lies have been told for at least 4000 years. They have become the basis of Western Civilization. Religion is from the Latin word meaning 'to be bound'. Religion is not limited to Jesus, Allah, and the rabbis Ha Shem but to all other forms of belief including Social Secular Humanism. Like sheep we are and have been led to the slaughter for so many generations. Even if butcher provides the sheep a warning we just walk on towards the same end result while thinking we're secure.

https://yadayah.com

“The truth is not for all men but only for those who seek it.” - Ayn Rand

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Jun 25, 2022·edited Jun 25, 2022

Consider that I am only to grow food for myself and family and won't accept Gold as a starving replacement.

I appreciate your thoughtful reply and suggest you learn how to make aerobic compost, I have a link to how I do it on the Stack Newsletter I published this morning.

I am also reading Power by Heinberg a thoughtful book documenting how we got into this mess, along the same historical lines you draw.

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Excellent as usual Mr. B. One point:

"… it required as much suspension of disbelief as the New Testament."

Maybe should have picked a better analogy IMO. You go on to mention several specifics regarding the New Testament, but you also leave out the most important, and underpinning, thing --

Faith.

That's what makes the ball roll in this case...

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Hard work, improved productivity, saving, deferred gratification driving real wealth creation, would’ve thought it?

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When the smoke clears and the bodies are buried and the blame attributed to the party out of power. We'll all own nothing and be happy or in prison for thinking differently.

I'm not sure why you'd ask such a question. Is it not obvious Bill has multiple bolt holes. His family home in Ireland is in my humble opinion located in one of the most beautiful parts of the country. His home in Argentina apart from the communists rabble rousers, contains some of the most authentic and nice people in the world apart from the Irish.

Find a bolt hole, buy gold, food, keep your family close. Live where one's surrounding neighbors are the salt of the earth kind of people and hunker down until the smoke clears.

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Jun 23, 2022·edited Jun 23, 2022

I feel your pain. Bill does hedge however, by conceding it is todays cogitation, from a comfortable perch granted.

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