patrick.net

$611,000,000,000,000 in currency derivatives and growing faster than the 22,000,000,000,000 M2 money supply.

The sovereign debt of all the countries in the world is unsustainable without a reset, or a crash.

Doesnt sound like higher interest rates is something we can afford at this point......

Bitcoin was created to have a solution for unlimited money printing. Bitcoin has very limited supply and allows investors to be their own bank.
Its no surprise that the Bitcoin price skyrocketed from less than $1 (11 years ago) to over 40k $ (today). On the contrary, the USD value has significantly lost in value over the last 10years.

The clock shows that while the total population has grown by 50 million since the year 2000 the workforce has gone DOWN by 2 million.

Just keep in mind that the enormous national debt makes the federal reserve completely powerless to halt inflation. If they raised interest rates to 6%, the debt service would overtake our entire budget. And it wouldn’t be enough to calm inflation.
Plan on inflation being a major factor for at least ten years, and plan on 100% inflation in that timespan.

I am absolutely disgusted by the ridiculous waste of the taxpayer’s money by the government.

The huge debt means we will be paying taxes to make interest payments which are ever higher.

It would not be so terrible if Americans owned the debt and got interest payments because they might spend the money in the USA.

The problem is foreign investors and governments own a lot of the USA debt.

You guys will have a higher tax on your 401K to pay interest to Chinese, British, Japanese, Norwegian and others.

I hate losers and liberals and especially illegals and those who employ them.

My friends liked to tease me about my frugality, often females.

Get a lotta dough in a Roth IRA.

clambo says

Get a lotta dough in a Roth IRA.

I got Bitcoin, Ethereum and Cardano in my Roth IRA (iTrustCapital). :) :)

Tax free Crypto gains.....music to my ears

Bitcoin says

clambo says

Get a lotta dough in a Roth IRA.

I got Bitcoin, Ethereum and Cardano in my Roth IRA (iTrustCapital). :) :)

Tax free Crypto gains.....music to my ears

Do you really think in the future when the SHTF they won't tax Roths too? The majority of the populace will stupidly support it.

RedStar says

Do you really think in the future when the SHTF they won't tax Roths too? The majority of the populace will stupidly support it.

Well, if he took self custody of his Roth and owned the crypto keys (bitcorn in particular) then they could only try to tax him.

I agree that at some future time the scumbag democrats may try to tax the Roth IRA.

I think they will surely tax other stuff first.

I have some ideas for undercover income but I am not too fucked because I bailed out of California at least.

FJB says

RedStar says

Do you really think in the future when the SHTF they won't tax Roths too? The majority of the populace will stupidly support it.

Well, if he took self custody of his Roth and owned the crypto keys (bitcorn in particular) then they could only try to tax him.

I presume RedStar means they will tax Roth at withdrawal, not on the balance. That means they could tax anyone making a withdrawal from the crypto Roth into dollars, whether they have your "key" or not.

HeadSet says

I presume RedStar means they will tax Roth at withdrawal, not on the balance. That means they could tax anyone making a withdrawal from the crypto Roth into dollars, whether they have your "key" or not.

Yep, they control the on/off ramps here in the states. One would have to leave the states.

They wont tax ROTH IRA's. Maybe they will. But i bet on they wont. I am super happy about the option to have crypto in a Roth IRA. It just doesnt get much better IMO.

An individual can save money, however, a society cannot. At the society level everything becomes a ponzi scheme.

By 2035 there will be 1 social security recipient for each worker. No matter what financial ponzi scheme is your preference (on this board it seems to be saving money and investing) those working will be little more than slaves given the shear numbers of non-workers they need to support.

Misc illustrates the point about not hoping to live from social security, which most people here don’t expect to do.

I’m not going to use just capital gains from stocks for income, rather dividends and interest.
Dividends are generally immune from the ups and downs of the stock market.

Dividend rates tend to rise in a falling market, just by simple math. Same dividend, cheaper stock.

Let's say that there is a fairly mild reset. In the 30s we dropped the convertibility of gold from about $17 per once of gold to $35 per ounce of gold.

In the late 70s-early 80s inflation took away about $50% of the dollars purchasing power.

With the federal debt at about $30 trillion, a 50% loss of purchasing power would be about $15 trillion. This is for the safest most liquid financial instrument in the world in all of history.

Good luck with any assets you hold based on this kind of devaluation.

No, the powers that be will instead try to keep the game going, probably going as far as negative interest rates as they have in Europe and Japan.

I’m holding some of an asset which may avoid the dollar falling.
It’s an ETF of Swiss stocks, FLSW.
The Swiss Franc is a strong currency.
The time I visited Switzerland years ago I bought 3 Francs for $1 USD.
Today, $1 USD doesn’t buy 1 Swiss Franc.

Stocks in general are a way to fight inflation, but the gains are not as great as we think if inflation is considered.

The biggest daily loss for the stock market was 22.6%.

I bet we can beat that record.

The head of the snake.

"...filthy rich psychopaths'."

Onvacation says

Debt Clock Ticks over 30 Trillion

Now 31.5 and growing...

Onvacation says

https://usdebtclock.org/?source=patrick.net

That was posted on Feb 6, 2022. Today is Feb 15, 2022. Here's the click at this moment:



$31.5 trillion.