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I'm still betting they will stuff California pensions with State IOUs, while selling off anything they can for cash today.
What can they sell off ? what state owned property ? I'm not sure how much they can borrow or finance through bonds.
yeah, I can see they "borrow" from CALPERS using that scheme
Inflation seems to be the plan to get out of sovereign debt.
I think planned financial collapse and forced onto CBDC instead. The inflation is just the icing on the cake.
If you say so, Patrick.
My grandpa retired from the shipyard in the early 1970's. His pension was $1500 month.
Did they increase his pension by 3.5% a year on average ?
Federal Reserve Refuses to Provide Records of Foreign Gold Holdings
Weeks after Federal Reserve Chairman Jerome Powell evaded a sitting congressman’s questions about the central bank’s foreign gold holdings, the Fed has also declined to comply with a Freedom of Information Act request for records about such holdings.
The Federal Reserve’s lack of transparency comes amidst reports that countries are removing their gold and other assets from the U.S. in the wake of the unprecedented Western sanctions imposed on Russia over its invasion of Ukraine. According to a 2023 Invesco survey, a “substantial percentage” of central banks expressed concern about how the U.S. and its allies froze nearly half of Russia’s $650 billion gold and forex reserves.
Rep. Alex Mooney, R-W.Va., asked Powell about the matter in a December letter, only to have the Fed chair respond last month with evasive non-answers, telling him that the Federal Reserve does not own gold but holds it as a custodian for other entities—a fact that the congressman presumably already knew.
Price Inflation Comes from Government, not from “Excuseflation” or “Greedflation” ...
The fault of inflation is not in business “monopoly,” or in union agitation, or in the hunches of speculators, or in the “greediness” of consumers; the fault is in the legalized counterfeiting operations of the government itself. For the government is the only institution in society with the power to counterfeit — to create new money. So long as it continues to use that power, we will continue to suffer from inflation, even unto a runaway inflation that will utterly destroy the currency.
Inflation, or whatever you want to call it, is nothing more than government taxation in stealth form. Only the government can conjure up new money from nothing, using it to bid away resources from private individuals.
For the government is the only institution in society with the power to counterfeit — to create new money.
The "creation" referenced in the Constitution refers specifically to specie, the only real money. Governments role is more in the realm of standardizing weights and measures, and even that is really still set by the market.
What I'm saying is there is not Constitutional provision that allows for mass printing, and only central bankers would want you to think there is.
Exactly, the Constitution is about the federal government overseeing the coining of money and to protect the public from counterfeit fraud. It was to establish standard currency to ensure free and legal interstate commerce.
you'll be able to buy a house for 10 ounces of gold, but you'll think twice about doing it, because you'll be buying a house in a war zone.
richwicks says
you'll be able to buy a house for 10 ounces of gold, but you'll think twice about doing it, because you'll be buying a house in a war zone.
I agree if the system collapses and the dollar goes to shit then we'll need lead more than silver and gold , and lots of lead in the form of 9 mm and 223 Remington. It will be based on bartering and also vital skills and supplies like food and potable water will be only valued.
Maybe when the system recovers, then gold could be used for currency.
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I agree if the system collapses and the dollar goes to shit then we'll need lead more than silver and gold , and lots of lead in the form of 9 mm and 223 Remington. It will be based on bartering and also vital skills and supplies like food and potable water will be only valued.
AD says
whats are the implications for those who own Silver Trust (ticker: SLV) ?
SLV is used to buy options to suppress the price if the material.
If every American just bought 2 ounces of silver per year, that would consume every available ounce mined in a year. It would break everything.
f every American just bought 2 ounces of silver per year, that would consume every available ounce mined in a year.
GNL says
f every American just bought 2 ounces of silver per year, that would consume every available ounce mined in a year.
Back in the days of film cameras, people could easily use 2 oz of silver per year.
But how many people are we talking about? Here, we're/Patrick is talking about over 300 million Americans.
GNL says
f every American just bought 2 ounces of silver per year, that would consume every available ounce mined in a year.
Back in the days of film cameras, people could easily use 2 oz of silver per year.
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It seems that Fed employees know how to get rich betraying the public.