I read today’s essay three times. Joel’s addendum was helpful. I get it. My takeaway is that the bottom turtle has a lot of pressure on it. Much more and there’s going to be turtle guts everywhere. And not just the bottom turtle.
BPR is costing me a fortune! Every time I read something from these guys, I’ve got to go out and buy more gold.
Terry Pratchett's fantasy novel "Making Money", where the local mint introduces paper money to the city. Ha ha - he (Sir Terry) was just reflecting our reality and giving us a smile at the disaster - much like Bill does.
The only reason why Japan has not yet defaulted on their debt is that approximately 90% of the debt is held by Japanese investors which include Japanese seniors who have their life saving in Japanese bonds. But with a declining and aging population many will start cashing in their bonds to fund their retirement. What happens if the government of Japan cannot honor their obligations to those people who own bonds and the ripple effects that this would cause in the global financial markets.
A good question was asked in today's essay, what happens if a G7 country such as Japan defaults on it debt? It's one thing to have the international community offer a country like Greece, Mexico, etc a bailout but the hundreds of billions of dollar bailout that would be needed for a multi-trillion dollar economy would an impossible sell since most of the world's economy would like to collapse as well if such an event would occur.
@PG V - you know - the more I think about it - is GOLD really the last man standing? From a working stiff's view - if you can provide a good/service (ie value) - you will get rewarded with something of value (gold, stocks(ownership), crypto, fiat currencies,etc.) - something you can trade for other goods/services that you want. Why is gold the only thing that stores value?
Universal acceptance as a valued scarce commodity, unless we go to bartering. The thing is it's not practical, breaking a piece off to buy something a bit awkward. Good question.
In an ideal world you’d pay for everyday things in silver coin and keep the gold for big purchases. I know we aren’t in an ideal world. Valcambi does produce a beautiful 50 x 1 gram gold card/bar with every gram clean breakable off the card. Don’t know if it’s got a future or whether it’s just too gimmicky but it’s worth having a look at as a possibility in the future for smaller gold payments.
You're right. And often I'm looking for a solution, or at-least a port in the storm. Bill helps us see the problem pretty well - but we don't see the solution very often.
In all seriousness, I think BIll does a good job defining the problem. That IS his job. If you want a solution, or a “port in the storm”, you might want to try a subscription to the whole BPR offering. The rest of the team does a pretty good job, too, offering honest “solutions”. I haven’t detected any BS yet.
"A decree backed by a promise backed by a lie backed by a fraud"
You missed the most important backing - a club or gun!
I read today’s essay three times. Joel’s addendum was helpful. I get it. My takeaway is that the bottom turtle has a lot of pressure on it. Much more and there’s going to be turtle guts everywhere. And not just the bottom turtle.
BPR is costing me a fortune! Every time I read something from these guys, I’ve got to go out and buy more gold.
Terry Pratchett's fantasy novel "Making Money", where the local mint introduces paper money to the city. Ha ha - he (Sir Terry) was just reflecting our reality and giving us a smile at the disaster - much like Bill does.
The only reason why Japan has not yet defaulted on their debt is that approximately 90% of the debt is held by Japanese investors which include Japanese seniors who have their life saving in Japanese bonds. But with a declining and aging population many will start cashing in their bonds to fund their retirement. What happens if the government of Japan cannot honor their obligations to those people who own bonds and the ripple effects that this would cause in the global financial markets.
A good question was asked in today's essay, what happens if a G7 country such as Japan defaults on it debt? It's one thing to have the international community offer a country like Greece, Mexico, etc a bailout but the hundreds of billions of dollar bailout that would be needed for a multi-trillion dollar economy would an impossible sell since most of the world's economy would like to collapse as well if such an event would occur.
So when will the Elite create a new currency they can control?
Check out Executive Order 14067 for some insight. Jim Rickards is discussing it in one of his free online updates. One can Google it, too.
Past recessions it used to be cash is king. If not true anymore, what is.
I would think ownership in companies that produce something of value. The Cokes, P&G, Ford and 3M's of the world.
The way things are going by the time that 5 ratio comes to fruition we'll all be 6 foot under
I have been waiting 10 years. Lots of metal and some miners. No debt. Patience!!
yep - you're right - good point.
@PG V - you know - the more I think about it - is GOLD really the last man standing? From a working stiff's view - if you can provide a good/service (ie value) - you will get rewarded with something of value (gold, stocks(ownership), crypto, fiat currencies,etc.) - something you can trade for other goods/services that you want. Why is gold the only thing that stores value?
Universal acceptance as a valued scarce commodity, unless we go to bartering. The thing is it's not practical, breaking a piece off to buy something a bit awkward. Good question.
In an ideal world you’d pay for everyday things in silver coin and keep the gold for big purchases. I know we aren’t in an ideal world. Valcambi does produce a beautiful 50 x 1 gram gold card/bar with every gram clean breakable off the card. Don’t know if it’s got a future or whether it’s just too gimmicky but it’s worth having a look at as a possibility in the future for smaller gold payments.
You're right. And often I'm looking for a solution, or at-least a port in the storm. Bill helps us see the problem pretty well - but we don't see the solution very often.
In all seriousness, I think BIll does a good job defining the problem. That IS his job. If you want a solution, or a “port in the storm”, you might want to try a subscription to the whole BPR offering. The rest of the team does a pretty good job, too, offering honest “solutions”. I haven’t detected any BS yet.
That’s because there is no “solution”.