There was a link to an article on here the other day that suggested forcing everybody to use electric energy via a smart meter had the same limit and control ability as cbdc's.
All this reference to 1971 is referring to better days when the US Dollar was backed by Gold.
Some say that this will fix all our problems
More than likely Gold backed US Dollar would not fix anything.
How can any country have a gold-backed reserve currency where no one knows who has what amount. And is that government even telling the truth or lying.
Nope, none of that old crap will work!
We need something new. Decentralized, solid value and corrupt free.
I wouldn’t count on crypto, if that’s what you’re alluding to. It will only work until it doesn’t, for a variety of reasons (central banks will NEVER give up their monopoly on “money”, THEIR cbdc will be required to pay taxes, etc). OK to buy a little Bitcoin for gambling/greater fool meanwhile but it is not required for blockchain to be of some benefit. And yes, we do rely on like-minded people if we want better.
No, I was alluding to the fact that we can't be isolated from everyone. People have tried that, even communities have tried, it never ends well. We should be as self sufficient as possible, but 100% self sufficient is not possible. Unless, of course, you're isolated because of religious persecution. That has happened to God's people for the last 5,000 plus years, but it's not ideal. Soon, it will no longer be necessary.
I invested Thousands of dollars for my membership and will not pay the annual $499 in October 2023.
I am a lifetime member of Legacy Research and enjoyed your Time presentation at one of your in person Legacy conventions in Bermuda.
What has happened to Legacy? You bailed out with Dan Denning. Where are the following people who were regular contributors?
Nick Giambruno, Doug Casey, Marco Wurtzer, Dave Forest, Jason Bodner, Jeff Clark, Jeff Brown, William Makula, Panjere who worked Teeka, real estate writer, Rick Rule.
Did you fire all of these people? Why did your talent leave?
Legacy Research is alive and kicking as far as I know. Bill, Tom, and myself parted ways amicably with them at the end of 2021 to pursue this project here. We're not invovled with the management or day to day operations of Legacy at all and couldn't say who is or isn't working there. Bill did write, at the time, about THIS venture and why we decied to pursue it. You can read that letter at the link below.
Legacy Research (Umbrella for Palm Beach, #Casey, Jeff Clark, Brownstone, *Rogue) is doing just fine, good recommendations, and many new products as well, especially Nomi Prins.
I've been following Bill for 15 years since Agora and Bonner and Partners
*Rogue was the last publishing venture before Bill went private
#three casey products discontinued, Panjere still does Strategic Trader (warrants) under Rogue
Jeff Brown got the boot in early summer and the "managers" compensated by giving his subscribers two (count 'em TWO, YEA!) new services they probably didn't want. Jeff's replacement immediately recommended selling the large herd of big-time losers that Jeff had recommended in the BioTech/Gene Editing space, though he did keep a few of the "cutting edge" tech stuff from that other, specific portfolio.
I read the new guy's introduction letter where he gave all the "updated" advice + new picks and I wasn't particularly impressed with what he had to say (can't recall his name at the moment and don't care to open a new window and log on the site.) I haven't revisited for the Friday updates in many weeks. So even though the JB subscriptions had been renewing for free because of convid (yada yada), I locked the CC they have on file and won't be paying for any new renewals for anything from that service. But that's just me.
I was kinda ticked off by the amount of faith I had put into JB's research and logic (plus the amount of hype the service allowed to be "broadcast"), then the fact that they just bailed on all of that with a "never you mind." Meh - easy come, easy go in the Financial Newsletter/Recommendation sphere I guess.
PS - I kept the high-loss Bio/Gene stuff and didn't sell. I'm upside on a few of them (now invested with only house money in those positions) and who knows - maybe one of those other pigs will find an acorn in the future. When that happens, I'll tip a glass to long-lost Mr. Brown...
What would happen if the US government declared gold a currency and allowed it to be used as such? What would happen if eventually, the dollar went the way of the dodo? What would happen if the Federal Reserve were shut down, maybe sometime after purchasing the federal governments debt.
We'd all have a much better Quality of Life, as would our children, Culture and Society in general.
Simultaneously, aircraft would need new radar sets to detect the influx of pigs blocking the airways, unicorn steaks would be all the rage and sweaters would be the #1 selling item in hell...
You had a great image to start todays missive, I think it came out of Jill Biden's closethttps://www.google.com/url?sa=i&url=https%3A%2F%2Fimgflip.com%2Fm%2Fpolitics%2Ftag%2Fjill%2Bbiden&psig=AOvVaw2QMPdR2kzK3j9sK8fcZM5W&ust=1690655731275000&source=images&cd=vfe&opi=89978449&ved=0CBAQjRxqFwoTCKj94cmFsoADFQAAAAAdAAAAABAE
Bill, wonderful as always. Not sure if you've read "The Fiat Standard" by Saifedean Ammous, but it describes how fiat money corrupted the culture as it distorted the economy. My assessment of the book is here, and thought you might enjoy it:
All of Mr. Pinker’s measures abruptly reversed in 2020, two years after he wrote his book. Now in their 4th year of decline, the reversals and trends remain precipitous, especially in developed nations.
I’m having a problem resolving some of Pinker’s points with Bill’s missive, unless he is not considering inflation (“US household income and net worth are near record levels”) suggests someone is wrong.
Bill, thanks for the figures and the facts.It doesn't make me optimistic,but i would rather read BPPR's articles than listen to the spin in the news media.
This is exactly what I've been saying to my friends for years. I've found I can't "invest" and play the elite game even though I understand what is happening with money because the system is false. I keep expecting it to collapse because it is false. It is simply mathematical logic that creating drastically higher ratios of money printed to money earned will collapse at some point.
Considering the growth in printed money in relation to earned money one can easily see why 41 different countries want to join the BRICS effort to destroy the dollar and pay those countries what they deserve for their resources and work. Conjuring up how to get the entire world to excessively print their fiat currencies was brilliant and amazing but even that is coming to an end since the debt is too great to be paid off. Inflation reigns supreme. I'm sure all these other country's workers feel the default of inflation just like America's poorer families feel the default of inflation. When that pain becomes too great the heads I bet the poor will know exactly who has brought on their decline in wealth and freedom.
IAskAI says “However, by the late 1960s, several economic imbalances had emerged that put pressure on this system. The United States was running a persistent trade deficit, which led to an outflow of gold as foreign countries exchanged their surplus dollars for gold. This created a strain on US gold reserves and raised concerns about the sustainability of the fixed exchange rate system.”
Artificial Intelligence offers “SEVERAL” reasons why the U.S. went off the gold standard, then only offers ONE.
There should have been a mechanism in the Bretton Woods agreement to increase the $35 price of gold to keep up with increasing population and productivity. The world needed more dollars as time went by.
The argument that the US broke the agreement is null, he didn't just break the agreement, he deleted it.
Thank you for the prompt response, Mark. "Who knows"? You know the answer. All the gold the US still possessed would have been given out to foreigners in exchange for dollars. By the end of 1971 the US would have no gold. Why won't anybody just say that?
We can discuss what would happen after that, but we do know the US would have no gold.
I'm with you and BPR all the way, Mark. No problem at all with your last response. But all I wanted to know from somebody I respect is, back in 1971, if the US had depleted its total gold supply, what would have happened?
We all see criticism about Nixon "taking us off the gold standard" and the resultant inflation over the decades, but what would have happed if he DIDN'T take us off back then?
The gold would’ve been depleted and there’d have been a depression. But the incentive of those in power at the time was to not have it happen on their watch (or during their lives).
So it was pushed out, with the fall coming at a later time and from a greater height. Concern about when and where those will be is probably the reason most of us are in BPR.
Thanks, JD. We are all in BPR for similar motives. Can you briefly explain why having no gold in Ft. Knox would cause a depression? We had plenty of gold in 1929, and even more after FDR confiscated all the private gold. It didn't cause nor fix the depression.
Hey Guys,
So assume (although Victoria is small fry in the scheme of things) you'll be aware that Dan Andrews is banning Gas into new homes etc into the future.
My mind can't comprehend the unintended consequences of these sort of shenanigans in relation to price, infrastructure and the energy sector.
Looking forward to reading about it the hopefully not too distant future, to see where this all fits in with the bigger bleak picture.
Keep up the good work.
Paul
There was a link to an article on here the other day that suggested forcing everybody to use electric energy via a smart meter had the same limit and control ability as cbdc's.
Dan needs the gas to provide electricity when the sun fails to shine and the wind goes away.
All this reference to 1971 is referring to better days when the US Dollar was backed by Gold.
Some say that this will fix all our problems
More than likely Gold backed US Dollar would not fix anything.
How can any country have a gold-backed reserve currency where no one knows who has what amount. And is that government even telling the truth or lying.
Nope, none of that old crap will work!
We need something new. Decentralized, solid value and corrupt free.
Any idea’s?
What would that be, that does NOT require electricity and a functioning interweb?
If electricity goes down for any length of time, you will have way bigger problems than paying for stuff.
Maybe you, not me. Au, Ag, Pb, H2O, farm. Just so happens my power is out this very moment from storms today. We are fine.
Not me either, I'm off the grid. But my point was we all rely on someone else for something.
I wouldn’t count on crypto, if that’s what you’re alluding to. It will only work until it doesn’t, for a variety of reasons (central banks will NEVER give up their monopoly on “money”, THEIR cbdc will be required to pay taxes, etc). OK to buy a little Bitcoin for gambling/greater fool meanwhile but it is not required for blockchain to be of some benefit. And yes, we do rely on like-minded people if we want better.
No, I was alluding to the fact that we can't be isolated from everyone. People have tried that, even communities have tried, it never ends well. We should be as self sufficient as possible, but 100% self sufficient is not possible. Unless, of course, you're isolated because of religious persecution. That has happened to God's people for the last 5,000 plus years, but it's not ideal. Soon, it will no longer be necessary.
7/28/2023
To: Bill Bonner,
WTF happened to Legacy Research?
I invested Thousands of dollars for my membership and will not pay the annual $499 in October 2023.
I am a lifetime member of Legacy Research and enjoyed your Time presentation at one of your in person Legacy conventions in Bermuda.
What has happened to Legacy? You bailed out with Dan Denning. Where are the following people who were regular contributors?
Nick Giambruno, Doug Casey, Marco Wurtzer, Dave Forest, Jason Bodner, Jeff Clark, Jeff Brown, William Makula, Panjere who worked Teeka, real estate writer, Rick Rule.
Did you fire all of these people? Why did your talent leave?
You owe your members and me an explanation.
Bill Marthens
wrmarthens@icloud.com
406-425-4560
Hi Bill,
Legacy Research is alive and kicking as far as I know. Bill, Tom, and myself parted ways amicably with them at the end of 2021 to pursue this project here. We're not invovled with the management or day to day operations of Legacy at all and couldn't say who is or isn't working there. Bill did write, at the time, about THIS venture and why we decied to pursue it. You can read that letter at the link below.
https://bonnerprivateresearch.substack.com/p/why-we-decided-to-go-private-after
Legacy Research (Umbrella for Palm Beach, #Casey, Jeff Clark, Brownstone, *Rogue) is doing just fine, good recommendations, and many new products as well, especially Nomi Prins.
I've been following Bill for 15 years since Agora and Bonner and Partners
*Rogue was the last publishing venture before Bill went private
#three casey products discontinued, Panjere still does Strategic Trader (warrants) under Rogue
Hi Mr. Marthens,
Jeff Brown got the boot in early summer and the "managers" compensated by giving his subscribers two (count 'em TWO, YEA!) new services they probably didn't want. Jeff's replacement immediately recommended selling the large herd of big-time losers that Jeff had recommended in the BioTech/Gene Editing space, though he did keep a few of the "cutting edge" tech stuff from that other, specific portfolio.
I read the new guy's introduction letter where he gave all the "updated" advice + new picks and I wasn't particularly impressed with what he had to say (can't recall his name at the moment and don't care to open a new window and log on the site.) I haven't revisited for the Friday updates in many weeks. So even though the JB subscriptions had been renewing for free because of convid (yada yada), I locked the CC they have on file and won't be paying for any new renewals for anything from that service. But that's just me.
I was kinda ticked off by the amount of faith I had put into JB's research and logic (plus the amount of hype the service allowed to be "broadcast"), then the fact that they just bailed on all of that with a "never you mind." Meh - easy come, easy go in the Financial Newsletter/Recommendation sphere I guess.
PS - I kept the high-loss Bio/Gene stuff and didn't sell. I'm upside on a few of them (now invested with only house money in those positions) and who knows - maybe one of those other pigs will find an acorn in the future. When that happens, I'll tip a glass to long-lost Mr. Brown...
What would happen if the US government declared gold a currency and allowed it to be used as such? What would happen if eventually, the dollar went the way of the dodo? What would happen if the Federal Reserve were shut down, maybe sometime after purchasing the federal governments debt.
Hi Mr. Culp -
We'd all have a much better Quality of Life, as would our children, Culture and Society in general.
Simultaneously, aircraft would need new radar sets to detect the influx of pigs blocking the airways, unicorn steaks would be all the rage and sweaters would be the #1 selling item in hell...
Was not the event of 1971 the culmination of what was begun in 1931?
Was not what happened in 1971 the result of fighting two wars begun by the previous adminstration?
Would you let France take home all this country's Gold?
Leonard Hartman
You had a great image to start todays missive, I think it came out of Jill Biden's closethttps://www.google.com/url?sa=i&url=https%3A%2F%2Fimgflip.com%2Fm%2Fpolitics%2Ftag%2Fjill%2Bbiden&psig=AOvVaw2QMPdR2kzK3j9sK8fcZM5W&ust=1690655731275000&source=images&cd=vfe&opi=89978449&ved=0CBAQjRxqFwoTCKj94cmFsoADFQAAAAAdAAAAABAE
Awesome page! Thanks.
Bill, wonderful as always. Not sure if you've read "The Fiat Standard" by Saifedean Ammous, but it describes how fiat money corrupted the culture as it distorted the economy. My assessment of the book is here, and thought you might enjoy it:
https://jdbreen.substack.com/p/the-book-i-wish-id-written
Great review Mr Breen! Might even get the book...
True then
And one point needs to be added:
All of Mr. Pinker’s measures abruptly reversed in 2020, two years after he wrote his book. Now in their 4th year of decline, the reversals and trends remain precipitous, especially in developed nations.
It all depends on whether one is a half glass full or half glass empty type of person
All true. But there is plenty of light before the sun sets.
I’m having a problem resolving some of Pinker’s points with Bill’s missive, unless he is not considering inflation (“US household income and net worth are near record levels”) suggests someone is wrong.
Bill, thanks for the figures and the facts.It doesn't make me optimistic,but i would rather read BPPR's articles than listen to the spin in the news media.
This is exactly what I've been saying to my friends for years. I've found I can't "invest" and play the elite game even though I understand what is happening with money because the system is false. I keep expecting it to collapse because it is false. It is simply mathematical logic that creating drastically higher ratios of money printed to money earned will collapse at some point.
Considering the growth in printed money in relation to earned money one can easily see why 41 different countries want to join the BRICS effort to destroy the dollar and pay those countries what they deserve for their resources and work. Conjuring up how to get the entire world to excessively print their fiat currencies was brilliant and amazing but even that is coming to an end since the debt is too great to be paid off. Inflation reigns supreme. I'm sure all these other country's workers feel the default of inflation just like America's poorer families feel the default of inflation. When that pain becomes too great the heads I bet the poor will know exactly who has brought on their decline in wealth and freedom.
Where can I see Dan’s notes from Rick Rule conference?
"As the elites stopped perspiring, they also stopped thinking"
Another great Bill Bonner quote.
SC
IDK, probably some other man’s opinion on what is valuable.
Why don’t you ask one of the brilliant professors on this thread!
IAskAI says “However, by the late 1960s, several economic imbalances had emerged that put pressure on this system. The United States was running a persistent trade deficit, which led to an outflow of gold as foreign countries exchanged their surplus dollars for gold. This created a strain on US gold reserves and raised concerns about the sustainability of the fixed exchange rate system.”
Artificial Intelligence offers “SEVERAL” reasons why the U.S. went off the gold standard, then only offers ONE.
That’s NOT artificial intelligence.
That’s Artificial Opinion!
2nd attempt for an answer here, but I have asked many times on other respected platforms the same question with no answer yet.
What would have happened in 1971 if Nixon had NOT taken the dollar off the gold standard?
There should have been a mechanism in the Bretton Woods agreement to increase the $35 price of gold to keep up with increasing population and productivity. The world needed more dollars as time went by.
The argument that the US broke the agreement is null, he didn't just break the agreement, he deleted it.
https://iask.ai/?mode=question&q=Why+in+1971+couldn%27t+Nixon+have+increased+the+gold+price+to+stop+the+conversion+of+dollars+into+gold.
Thank you for the prompt response, Mark. "Who knows"? You know the answer. All the gold the US still possessed would have been given out to foreigners in exchange for dollars. By the end of 1971 the US would have no gold. Why won't anybody just say that?
We can discuss what would happen after that, but we do know the US would have no gold.
I'm with you and BPR all the way, Mark. No problem at all with your last response. But all I wanted to know from somebody I respect is, back in 1971, if the US had depleted its total gold supply, what would have happened?
We all see criticism about Nixon "taking us off the gold standard" and the resultant inflation over the decades, but what would have happed if he DIDN'T take us off back then?
The US would have had to live within our means.
The gold would’ve been depleted and there’d have been a depression. But the incentive of those in power at the time was to not have it happen on their watch (or during their lives).
So it was pushed out, with the fall coming at a later time and from a greater height. Concern about when and where those will be is probably the reason most of us are in BPR.
Thanks, JD. We are all in BPR for similar motives. Can you briefly explain why having no gold in Ft. Knox would cause a depression? We had plenty of gold in 1929, and even more after FDR confiscated all the private gold. It didn't cause nor fix the depression.