patrick.net
An Antidote to Corporate Media
1,251,732 comments by 14,930 users - Al_Sharpton_for_President, GreaterNYCDude, RC2006, WookieMan online now
I'm starting to think DEFLATION is coming
invite response
2021 Jul 16, 11:39am 9,227 views 115 comments
« First « Previous Comments 16 - 55 of 115 Next » Last » Search these comments
18
rocketjoe79
2021 Jul 16, 7:11pm
rocketjoe79
2021 Jul 16, 7:11pm
Patrick says
But there are some sinks for gold and silver like industrial usage. Gold mines keep high value strikes in reserve for hard times, or when the owners want to sell or need some money. Even then they might leverage or borrow against a known strike. They mine the low value ores when the price of gold is high and they can reap profits. Capital costs are high for mining. When prices go down, they don't mine as much, idling less profitable sites.
I dream of silver and gold currency once again.
It's just so beautiful and durable, and impossible for the banksters to create more of with just a pen and a gullible public.
They both do inflate a bit over time as more silver and gold is mined, but that's fine with me.
But there are some sinks for gold and silver like industrial usage. Gold mines keep high value strikes in reserve for hard times, or when the owners want to sell or need some money. Even then they might leverage or borrow against a known strike. They mine the low value ores when the price of gold is high and they can reap profits. Capital costs are high for mining. When prices go down, they don't mine as much, idling less profitable sites.
19
AmericanKulak
2021 Jul 16, 7:27pm
AmericanKulak
2021 Jul 16, 7:27pm
Patrick says
As I said in the other thread, this is fine but there has to be a Constitutional Amendment requiring ALL Wages and Salaries to be paid in actual gold and silver, no notes, no IOUs, no 'here's a paper receipt for 20 ounces of silver deposited at the First Mises-Rothbard Bank'. Employers have to pay people's hourly or salary wages in actual physical gold and silver in their hand at least once per month.
I dream of silver and gold currency once again.
As I said in the other thread, this is fine but there has to be a Constitutional Amendment requiring ALL Wages and Salaries to be paid in actual gold and silver, no notes, no IOUs, no 'here's a paper receipt for 20 ounces of silver deposited at the First Mises-Rothbard Bank'. Employers have to pay people's hourly or salary wages in actual physical gold and silver in their hand at least once per month.
21
fdhfoiehfeoi
2021 Jul 16, 11:49pm
fdhfoiehfeoi
2021 Jul 16, 11:49pm
stfu says
Actually you can very easily if you use real money. A good suit in Italy still costs about the same that a comparable set of clothing did in Roman times, in gold ounces. And there is a fine dining restaurant in Europe that still give you a nice meal for the same amount of gold it cost 300 years ago.
The worthless paper has you Neo.
You can't compare prices over time due to innovation and productivity.
Actually you can very easily if you use real money. A good suit in Italy still costs about the same that a comparable set of clothing did in Roman times, in gold ounces. And there is a fine dining restaurant in Europe that still give you a nice meal for the same amount of gold it cost 300 years ago.
The worthless paper has you Neo.
22
fdhfoiehfeoi
2021 Jul 16, 11:51pm
fdhfoiehfeoi
2021 Jul 16, 11:51pm
RC2006 says
Not mine. If that goes into effect, you'll know I'm dead. Life is not so precious to me that I'm willing to live in chains.
Same but I think our future is gov controled digital currency.
Not mine. If that goes into effect, you'll know I'm dead. Life is not so precious to me that I'm willing to live in chains.
23
fdhfoiehfeoi
2021 Jul 17, 12:06am
fdhfoiehfeoi
2021 Jul 17, 12:06am
WineHorror1 says
Hamilton, is that you? The state is mentioned because the focus of the document was the only government that was allowed to exercise anything outlined in the Constitution. That's specifically stated at the end of the document. Feds had no power to do anything.
No State
There's your answer.
Hamilton, is that you? The state is mentioned because the focus of the document was the only government that was allowed to exercise anything outlined in the Constitution. That's specifically stated at the end of the document. Feds had no power to do anything.
24
fdhfoiehfeoi
2021 Jul 17, 12:10am
fdhfoiehfeoi
2021 Jul 17, 12:10am
MisdemeanorRebellionNoCoupForYou says
No, we just need to start following the Constitution. Central banking fiat currencies are completely illegal. Just because a rigged system says their money is legal, doesn't legitimize it. In fact, that's always been the hallmark of worthless money substitutes, that a corrupt government forces their usage. If no one forced you to take dollars, they would disappear within a few years.
As I said in the other thread, this is fine but there has to be a Constitutional Amendment requiring ALL Wages and Salaries to be paid in actual gold and silver, no notes, no IOUs, no 'here's a paper receipt for 20 ounces of silver deposited at the First Mises-Rothbard Bank'. Employers have to pay people's hourly or salary wages in actual physical gold and silver in their hand at least once per month.
No, we just need to start following the Constitution. Central banking fiat currencies are completely illegal. Just because a rigged system says their money is legal, doesn't legitimize it. In fact, that's always been the hallmark of worthless money substitutes, that a corrupt government forces their usage. If no one forced you to take dollars, they would disappear within a few years.
25
AmericanKulak
2021 Jul 17, 12:19am
AmericanKulak
2021 Jul 17, 12:19am
NuttBoxer says
Oh, my law is Constitutional - you have to be paid in Gold or Silver, not a Banknote "representing a private company's promise to give you the silver which if you go to the bank, they will hem and haw and try to get you to take other paper instead of actual physical coin.".
Nope, you must be paid in the precious metal, all salaries and wages. Not paper of any kind. Corporations and Banks can trade the paper between themselves, as long as we get the actual metals, not the Wildcat Bank Script, Scrap, and Inked On Nonsense all Fractionally Reserved. They must pay all wages and salaries in the physical currency.
"Oh, this is a Banknote on the First China Bank of 88 Dragon for 10 troy ounces of Silver, you take, Wogah Wikardson, you take for your work at Numbah 10 Lucky Retail Store."
"No Cheng, I want my 10 troy ounces in Metal Silver per the law, in my hand."
Of course, this is exactly what they don't want to do. They want to keep the physical metal and give all the plebes the paper.
Only way I'll accept the Gold and Silver Standard is that it is 0% Paper/Digital and 100% Actual Metal for wages/salary.
No, we just need to start following the Constitution. Central banking fiat currencies are completely illegal. Just because a rigged system says their money is legal, doesn't legitimize it. In fact, that's always been the hallmark of worthless money substitutes, that a corrupt government forces their usage. If no one forced you to take dollars, they would disappear within a few years.
Oh, my law is Constitutional - you have to be paid in Gold or Silver, not a Banknote "representing a private company's promise to give you the silver which if you go to the bank, they will hem and haw and try to get you to take other paper instead of actual physical coin.".
Nope, you must be paid in the precious metal, all salaries and wages. Not paper of any kind. Corporations and Banks can trade the paper between themselves, as long as we get the actual metals, not the Wildcat Bank Script, Scrap, and Inked On Nonsense all Fractionally Reserved. They must pay all wages and salaries in the physical currency.
"Oh, this is a Banknote on the First China Bank of 88 Dragon for 10 troy ounces of Silver, you take, Wogah Wikardson, you take for your work at Numbah 10 Lucky Retail Store."
"No Cheng, I want my 10 troy ounces in Metal Silver per the law, in my hand."
Of course, this is exactly what they don't want to do. They want to keep the physical metal and give all the plebes the paper.
Only way I'll accept the Gold and Silver Standard is that it is 0% Paper/Digital and 100% Actual Metal for wages/salary.
26
SoTex
2021 Jul 17, 12:38am
SoTex
2021 Jul 17, 12:38am
I think deflation is on the horizon too but keep in mind we can have technology induced deflation and asset inflation at the same time.
27
gabbar
2021 Jul 17, 4:59am
gabbar
2021 Jul 17, 4:59am
Went to a restaurant supplies store yesterday. A lot of restaurants use this store; it is open to public. Prices of most items were significantly highly. For example a Volrath frying pan that was $40 precovid is $60 now. I imagine restaurants will pass on these costs to the consumer....but how long will this model survive?
29
joshuatrio
2021 Jul 17, 5:28am
joshuatrio
2021 Jul 17, 5:28am
gabbar says
That's my point. I think as prices go up, people will just quit paying. I'm already seeing it in my own buying habits, as well as people I know.
I imagine restaurants will pass on these costs to the consumer....but how long will this model survive?
That's my point. I think as prices go up, people will just quit paying. I'm already seeing it in my own buying habits, as well as people I know.
30
gabbar
2021 Jul 17, 5:46am
gabbar
2021 Jul 17, 5:46am
joshuatrio says
I walked out without buying anything from the restaurant supply store. I was looking for a better olive oil dispenser; I will make do with the oil dispenser I already have, no big deal. I am not going to pay those prices for a better oil dispenser.
gabbar saysI imagine restaurants will pass on these costs to the consumer....but how long will this model survive?
That's my point. I think as prices go up, people will just quit paying. I'm already seeing it in my own buying habits, as well as people I know.
I walked out without buying anything from the restaurant supply store. I was looking for a better olive oil dispenser; I will make do with the oil dispenser I already have, no big deal. I am not going to pay those prices for a better oil dispenser.
31
gabbar
2021 Jul 17, 5:53am
gabbar
2021 Jul 17, 5:53am
joshuatrio says
Pre-covid, I loaded up on clothes and winter clothing at Dillard's at sale prices. I am in good shape for the next few years; I see Dillards full of crappy clothing now but its stock price is above $150; makes no sense to me.
gabbar saysI imagine restaurants will pass on these costs to the consumer....but how long will this model survive?
That's my point. I think as prices go up, people will just quit paying. I'm already seeing it in my own buying habits, as well as people I know.
Pre-covid, I loaded up on clothes and winter clothing at Dillard's at sale prices. I am in good shape for the next few years; I see Dillards full of crappy clothing now but its stock price is above $150; makes no sense to me.
32
Booger
2021 Jul 17, 6:08am
Booger
2021 Jul 17, 6:08am
WineHorror1 says
I remember when $5 was considered expensive for a hamburger.
I just spent $18 for a burger, fries and soda last night at 5 Guys.
I remember when $5 was considered expensive for a hamburger.
33
GNL
2021 Jul 17, 6:34am
GNL
2021 Jul 17, 6:34am
Booger says
AND I can tell there is something different about the meat. Big difference.
WineHorror1 saysI just spent $18 for a burger, fries and soda last night at 5 Guys.
I remember when $5 was considered expensive for a hamburger.
AND I can tell there is something different about the meat. Big difference.
34
gabbar
2021 Jul 17, 6:37am
gabbar
2021 Jul 17, 6:37am
WineHorror1 says
And it is not a better difference I am sure......so what's going into the meat; is it even meat?
Booger saysWineHorror1 saysI just spent $18 for a burger, fries and soda last night at 5 Guys.
I remember when $5 was considered expensive for a hamburger.
AND I can tell there is something different about the meat. Big difference.
And it is not a better difference I am sure......so what's going into the meat; is it even meat?
35
GNL
2021 Jul 17, 6:47am
GNL
2021 Jul 17, 6:47am
gabbar says
Correct. Texture and taste are different.
WineHorror1 saysBooger saysWineHorror1 saysI just spent $18 for a burger, fries and soda last night at 5 Guys.
I remember when $5 was considered expensive for a hamburger.
AND I can tell there is something different about the meat. Big difference.
And it is not a better difference I am sure......so what's going into the meat; is it even meat?
Correct. Texture and taste are different.
36
porkchopXpress
2021 Jul 17, 7:05am
porkchopXpress
2021 Jul 17, 7:05am
joshuatrio says
Simply because all I hear about on the internet/news/podcasts is inflation, INFLATION, INFLATION... When MSM is spewing one thing, haven't we learned by now to do the opposite?I totally agree with this. The MSM is psychologically preparing the public for a reversal so that the Fed can justify mopping up all this liquidity, which we all know will cause a crash. This is how the TPTB transfer wealth from the little people to them.
37
Onvacation
2021 Jul 17, 7:35am
Onvacation
2021 Jul 17, 7:35am
Booger says
I used to get a burger, fries, and a soda and get change from my $1 at McDonald's.
WineHorror1 saysI just spent $18 for a burger, fries and soda last night at 5 Guys.
I remember when $5 was considered expensive for a hamburger.
I used to get a burger, fries, and a soda and get change from my $1 at McDonald's.
38
clambo
2021 Jul 17, 7:44am
Technology has made some things less expensive (deflation); communication comes to mind.
I ran up a $700 phone bill once with my international and “long distance” USA calls.
Today voip is free, with FaceTime, WhatsApp, etc.
The government is creating wage inflation right now; it’s paying for people to stay home, so McDonalds is offering a $200 bonus to work ($11/hr) and Target is offering $15/hour.
With wage inflation, almost everything goes up.
The government has also made real estate less available; people are not being foreclosed as they normally would be, and they are not being evicted either.
I would not be buying a house now either until the interference ends.
Silver sucks, my friend has a lot of it that he bought for $45-$50+ per ounce years ago, that’s the epitome of the opportunity cost; I was yelling at him to buy mutual funds and AAPL at the time. I made a bundle and he’s underwater.
I ran up a $700 phone bill once with my international and “long distance” USA calls.
Today voip is free, with FaceTime, WhatsApp, etc.
The government is creating wage inflation right now; it’s paying for people to stay home, so McDonalds is offering a $200 bonus to work ($11/hr) and Target is offering $15/hour.
With wage inflation, almost everything goes up.
The government has also made real estate less available; people are not being foreclosed as they normally would be, and they are not being evicted either.
I would not be buying a house now either until the interference ends.
Silver sucks, my friend has a lot of it that he bought for $45-$50+ per ounce years ago, that’s the epitome of the opportunity cost; I was yelling at him to buy mutual funds and AAPL at the time. I made a bundle and he’s underwater.
40
WookieMan
2021 Jul 17, 8:13am
WookieMan
2021 Jul 17, 8:13am
Booger says
If you can, go rural. We went out last night with the kids and my Blackened Chicken Sandwich with fries and 5 beers (we walked) was $18. I think the total before tip was like $55 for two pizzas, tenders, fish tenders and my meal included. Service was slow because no one wants to work, but we know everyone and we are patient and also the reason for 5 beers, lol. I think 2 Tito's and soda for the wife as well. Sit down place, food made fresh.
I've given up on chains for the most part and fast foods 100%. We'll hit some up on vacations but that's about it. Last time I think I had 5 Guys was out in Bozeman. Only 2nd time. Wasn't impressed regardless of the price. I prefer to cook at home or go local where I know the food and the people cooking it. Tip well and give back to the community in a small way. McDonalds and the like are there to extract money from your community. I wish they were short staffed and not my local restaurants and bars. And yes, I know most are franchisees, but it's rare for them to be individual and not own multiple.
WineHorror1 saysI just spent $18 for a burger, fries and soda last night at 5 Guys.
I remember when $5 was considered expensive for a hamburger.
If you can, go rural. We went out last night with the kids and my Blackened Chicken Sandwich with fries and 5 beers (we walked) was $18. I think the total before tip was like $55 for two pizzas, tenders, fish tenders and my meal included. Service was slow because no one wants to work, but we know everyone and we are patient and also the reason for 5 beers, lol. I think 2 Tito's and soda for the wife as well. Sit down place, food made fresh.
I've given up on chains for the most part and fast foods 100%. We'll hit some up on vacations but that's about it. Last time I think I had 5 Guys was out in Bozeman. Only 2nd time. Wasn't impressed regardless of the price. I prefer to cook at home or go local where I know the food and the people cooking it. Tip well and give back to the community in a small way. McDonalds and the like are there to extract money from your community. I wish they were short staffed and not my local restaurants and bars. And yes, I know most are franchisees, but it's rare for them to be individual and not own multiple.
41
GNL
2021 Jul 17, 8:24am
GNL
2021 Jul 17, 8:24am
WookieMan says
5 Guys used to be my favorite burger place. No longer. Won't ever go again. Yes, things are expensive in Northern Virginia. I live about 1 mile from the CIA.
Booger saysWineHorror1 saysI just spent $18 for a burger, fries and soda last night at 5 Guys.
I remember when $5 was considered expensive for a hamburger.
If you can, go rural. We went out last night with the kids and my Blackened Chicken Sandwich with fries and 5 beers (we walked) was $18. I think the total before tip was like $55 for two pizzas, tenders, fish tenders and my meal included. Service was slow because no one wants to work, but we know everyone and we are patient and also the reason for 5 beers, lol. I think 2 Tito's and soda for the wife as well. Sit down place, food made fresh.
I've given up on chains for the most part and fast foods 100%. We'll hit some up on vacations but that's about it. Last time I think I had 5 Guys was out in Bozeman. Only 2nd time. Wasn't impressed rega...
5 Guys used to be my favorite burger place. No longer. Won't ever go again. Yes, things are expensive in Northern Virginia. I live about 1 mile from the CIA.
42
Booger
2021 Jul 17, 8:37am
Booger
2021 Jul 17, 8:37am
WookieMan says
I also think that 5 guys sucks.
Last time I think I had 5 Guys was out in Bozeman. Only 2nd time. Wasn't impressed regardless of the price.
I also think that 5 guys sucks.
43
Bd6r
2021 Jul 17, 8:43am
Bd6r
2021 Jul 17, 8:43am
WookieMan says
That type of attitude may help bring down corporate idiocy and influence of Big Woke Corporations on society. Buy local, patronize local mom and pop restaurants, etc. We bought half of cow from a local farmer and some chickens, drink local beer, don't drink coke and Pepsi, etc. We can't do this for all of our needs, but if enough people do this, Big Woke Business Which Sucks Biden Dick will suffer. They are getting crafty though. Example is karbach brewery in Houston, it was independent, then was bought by a conglomerate, beer started tasting like piss, and it took superhuman efforts to figure out that they have sold out (nothing mentioned on label, still supposedly local).
I prefer to cook at home or go local where I know the food and the people cooking it. Tip well and give back to the community in a small way. McDonalds and the like are there to extract money from your community. I wish they were short staffed and not my local restaurants and bars. And yes, I know most are franchisees, but it's rare for them to be individual and not own multiple.
That type of attitude may help bring down corporate idiocy and influence of Big Woke Corporations on society. Buy local, patronize local mom and pop restaurants, etc. We bought half of cow from a local farmer and some chickens, drink local beer, don't drink coke and Pepsi, etc. We can't do this for all of our needs, but if enough people do this, Big Woke Business Which Sucks Biden Dick will suffer. They are getting crafty though. Example is karbach brewery in Houston, it was independent, then was bought by a conglomerate, beer started tasting like piss, and it took superhuman efforts to figure out that they have sold out (nothing mentioned on label, still supposedly local).
45
WookieMan
2021 Jul 17, 8:46am
WookieMan
2021 Jul 17, 8:46am
WineHorror1 says
$18 just seems nuts for a burger meal. Just started this year, but bought half a cow. For $18 I could take 3 tubes of ground beef we have and make probably 20 burgers. We have about 20 tubes. Freshly processed. I'm pressing burgers today for tomorrow grilling. Doing 4 racks of ribs as well. I'm sure you know this, as long as you keep an eye on it, can season well, it's hard to fuck up cooking. Just takes time, hence why fast food is popular.
When I was doing a 9-5 I'd pack a lunch. Leftovers or a basic turkey or ham sandwich. I got suck into the fast food black hole in my 20's and it sucked. Wasn't fat, but was overweight for my age. Regret not being in better shape so I dumped the fast food and lost 15lbs. It was daily McDonalds. It was awful. Metabolism caught up to me around 28.
5 Guys used to be my favorite burger place. No longer. Won't ever go again. Yes, things are expensive in Northern Virginia. I live about 1 mile from the CIA.
$18 just seems nuts for a burger meal. Just started this year, but bought half a cow. For $18 I could take 3 tubes of ground beef we have and make probably 20 burgers. We have about 20 tubes. Freshly processed. I'm pressing burgers today for tomorrow grilling. Doing 4 racks of ribs as well. I'm sure you know this, as long as you keep an eye on it, can season well, it's hard to fuck up cooking. Just takes time, hence why fast food is popular.
When I was doing a 9-5 I'd pack a lunch. Leftovers or a basic turkey or ham sandwich. I got suck into the fast food black hole in my 20's and it sucked. Wasn't fat, but was overweight for my age. Regret not being in better shape so I dumped the fast food and lost 15lbs. It was daily McDonalds. It was awful. Metabolism caught up to me around 28.
47
fdhfoiehfeoi
2021 Jul 17, 8:45pm
fdhfoiehfeoi
2021 Jul 17, 8:45pm
MisdemeanorRebellionNoCoupForYou says
Paper is actually more valuable in an honest financial system, seriously. Look at the bank ofFlorence Venice, kicked ass at evaluating all kinds of coin in circulation, and never, and I mean NEVER practiced fractional reserve banking. If they said they had your money, they had it, every red cent. And not just in a month, or on a Wednesday, but every day, 24/7 365. Because of their reputation their paper held a very high value.
Only way I'll accept the Gold and Silver Standard is that it is 0% Paper/Digital and 100% Actual Metal for wages/salary.
Paper is actually more valuable in an honest financial system, seriously. Look at the bank of
48
B.A.C.A.H.
2021 Jul 17, 8:51pm
B.A.C.A.H.
2021 Jul 17, 8:51pm
NuttBoxer says
What happened?
Look at the bank of Florence, kicked ass at evaluating all kinds of coin in circulation, and never, and I mean NEVER practiced fractional reserve banking. If they said they had your money, they had it, every red cent. And not just in a month, or on a Wednesday, but every day, 24/7 365. Because of their reputation their paper held a very high value.
What happened?
49
AmericanKulak
2021 Jul 17, 11:51pm
AmericanKulak
2021 Jul 17, 11:51pm
NuttBoxer says
Look at the backpages of19th Century US/UK newspapers. You deposit physical silver, get a banknote for the amount, go a state over, and they want to give you only 80% of that paper.
No Paper, physical only. Banks and Corporations can trade paper. Wages, Salaries get paid in physical metal. Best insurance against bank failures ever.
Paper is actually more valuable in an honest financial system, seriously. Look at the bank of Florence,
Look at the backpages of19th Century US/UK newspapers. You deposit physical silver, get a banknote for the amount, go a state over, and they want to give you only 80% of that paper.
No Paper, physical only. Banks and Corporations can trade paper. Wages, Salaries get paid in physical metal. Best insurance against bank failures ever.
50
AmericanKulak
2021 Jul 17, 11:54pm
AmericanKulak
2021 Jul 17, 11:54pm
NuttBoxer says
https://cdn.mises.org/Money_Bank_Credit_and_Economic_Cycles_De%20Soto.pdf
Banks would never become powerful entities if all they did was charge a small fee for locking up gold or assisting distant transactions.
Paying wages/salaries in physical gold/silver only means that all the Financial Shennanigans would mostly bite Bankers on the ass and leave the ordinary folks alone- even benefit them during a crisis as big orgs would bleed inventory and other assets to cover their ass and only ordinary people would have the real cash to buy them up.
If they said they had your money, they had it, every red cent.
A balance sheet from the London branch of the Medici Bank, dated November 12, 1477, shows that a significant number of the bank’s debts corresponded to demand deposits. Raymond de Roover himself estimates that at one point, the bank’s primary reserves were down to 50 percent of total demand liabilities. 60 If we apply the standard criterion used by A.P. Usher, this implies a credit expansion ratio of twice the demand deposits received by the bank. There is evidence, however, that this ratio gradually worsened over the bank’s life-span, especially after 1464, a year that marked the beginning of growing difficulties for the bank. The roots of the general economic and bank crisis that ruined the Medici Bank resemble those Carlo M. Cipolla identifies in his study of fourteenth-century Florence. As a matter of fact, credit expansion resulting from bankers’ misappropriation of demand deposits gave rise to an artificial boom fed by the increase in the money supply and its seemingly “beneficial” short-term effects. Nevertheless, since this process sprang from an increase in the money supply, namely credit unbacked by growth in real savings...
https://cdn.mises.org/Money_Bank_Credit_and_Economic_Cycles_De%20Soto.pdf
Banks would never become powerful entities if all they did was charge a small fee for locking up gold or assisting distant transactions.
Paying wages/salaries in physical gold/silver only means that all the Financial Shennanigans would mostly bite Bankers on the ass and leave the ordinary folks alone- even benefit them during a crisis as big orgs would bleed inventory and other assets to cover their ass and only ordinary people would have the real cash to buy them up.
51
fdhfoiehfeoi
2021 Jul 18, 9:12am
fdhfoiehfeoi
2021 Jul 18, 9:12am
B.A.C.A.H. says
Sorry, it was Venice not Florence. The politicians eventually forgot why they had outlawed fractional reserve, and re-instated it.
What happened?
Sorry, it was Venice not Florence. The politicians eventually forgot why they had outlawed fractional reserve, and re-instated it.
52
fdhfoiehfeoi
2021 Jul 18, 9:17am
fdhfoiehfeoi
2021 Jul 18, 9:17am
MisdemeanorRebellionNoCoupForYou says
Venice did charge for holding deposits, notary work, etc. But they did not loan out what they did not have. Their paper actually commanded a premium over metals because of the number of coins in circulation, and how good the bank was at determining value.
Banks would never become powerful entities if all they did was charge a small fee for locking up gold or assisting distant transactions.
Venice did charge for holding deposits, notary work, etc. But they did not loan out what they did not have. Their paper actually commanded a premium over metals because of the number of coins in circulation, and how good the bank was at determining value.
53
AmericanKulak
2021 Jul 18, 10:01am
AmericanKulak
2021 Jul 18, 10:01am
NuttBoxer says
Good for Venice. Banks and Corporations can trade that wonderful paper with each other. Eventually, the bankers gave in to the usual pressure and it collapsed also. For the USA, all wages/salaries in physical metal.
If we're going to trade paper, we can trade paper without the gold/silver.
No Gold/Silver standard without a Constitutional Amendment to pay all wages in physical silver/gold and banning ANY AND ALL, Public OR Private, paper/digital for that purpose. And it must declared legal tender for the satisfaction of all debts, including physical delivery - nobody can refuse the metal itself as payment for purchases or debt.
Venice did charge for holding deposits, notary work, etc. But they did not loan out what they did not have. Their paper actually commanded a premium over metals because of the number of coins in circulation, and how good the bank was at determining value.
Good for Venice. Banks and Corporations can trade that wonderful paper with each other. Eventually, the bankers gave in to the usual pressure and it collapsed also. For the USA, all wages/salaries in physical metal.
If we're going to trade paper, we can trade paper without the gold/silver.
No Gold/Silver standard without a Constitutional Amendment to pay all wages in physical silver/gold and banning ANY AND ALL, Public OR Private, paper/digital for that purpose. And it must declared legal tender for the satisfaction of all debts, including physical delivery - nobody can refuse the metal itself as payment for purchases or debt.
54
Onvacation
2021 Jul 18, 10:10am
Onvacation
2021 Jul 18, 10:10am
NuttBoxer says
They didn't forget.
The politicians eventually forgot why they had outlawed fractional reserve, and re-instated it.
They didn't forget.
55
Shaman
2021 Jul 18, 12:56pm
Shaman
2021 Jul 18, 12:56pm
You’ll pay these prices and like it! Or else we will sell it all to people with more money than you!
« First « Previous Comments 16 - 55 of 115 Next » Last » Search these comments
At some point, people can't keep up with the rising prices and quit buying. Wouldn't that naturally lead to deflation? I know the fed can print indefinitely, but if people refuse to spend, I think we'd still have a downward slope in prices. Additionally, with the "supply" shortages caused by government paying people to stay home, I would assume these shortages would stop once people start going back.
Ourselves and people in our neighborhood pretty much said "fuck it" to all projects that required lumber, and we're seeing those prices starting to come back down. I think we'll see the same with car prices and most other commodities.
Here was a good article on what I feel is starting to happen:
https://www.zerohedge.com/markets/hangover-here-explosive-inflation-leads-record-collapse-home-car-purchase-plans
I was gung ho on buying real estate the other month, but I've had some people who own hundreds of rentals tell me last month to wait 3-6 months minimum, as they expect prices to start falling.