« First « Previous Comments 79 - 118 of 190 Next » Last » Search these comments
As far as those Central bankers trying to enslave everyone, they are going about it in government fashion. The largest holders of those sub 3% mortgages is the Federal Reserve. SO with inflation running about 8% and wages going up about 7% they are taking a loss on those holdings of mortgages, and treasuries each and every year.
Yes, it's misleading because it takes into account the 21.3% of the population on government social services that have nothing.
Real Americans that worked their 45 years, bought a home and saved a little are way above the $1 million, and this doesn't include any pensions they may have. Regular folks end up quite well off.
That is a $3 trillion gain for America's households and a loss of that amount for the bankers.
The median (since you seem to like that better) house price is $392k. Since 40% have their house paid off, that doesn't seem like much of a stretch to have saved $600k in financial assets over 45 years. Again this doesn't include any pensions they may have.
They could just as easily construct a debt jubilee by cancelling the Treasury debt the Fed holds. That's the power of having a fiat currency.
I'm old enough to recall 'mortgage burning parties,' which were, when I was a very young boy, quite common. Once the borrower paid off their home, they would celebrate with their family and friends by burning the mortgage.
If we marked to market the Fed's balance sheet, it ends up about a negative $3 trillion.
That is a $3 trillion gain for America's households and a loss of that amount for the bankers. Right now it looks like they are government competent not anything to worry about.
danger of being farmed like animals (i.e. animals to be slaughtered after being fattened up).
In Mexico, I learned that the Aztecs would fatten up prisoners before sacrificing them because the crowd would then eat the body.
After World War II, the United States led efforts to set up the Bretton Woods System, the International Monetary Fund and the World Bank, which, together with the Marshall Plan, formed the international monetary system centered around the U.S. dollar. In addition, the United States has also established institutional hegemony in the international economic and financial sector by manipulating the weighted voting systems, rules and arrangements of international organizations including "approval by 85 percent majority," and its domestic trade laws and regulations. By taking advantage of the dollar's status as the major international reserve currency, the United States is basically collecting "seigniorage" from around the world; and using its control over international organizations, it coerces other countries into serving America's political and economic strategy.
The United States exploits the world's wealth with the help of "seigniorage." It costs only about 17 cents to produce a 100 dollar bill, but other countries had to pony up 100 dollar of actual goods in order to obtain one. It was pointed out more than half a century ago, that the United States enjoyed exorbitant privilege and deficit without tears created by its dollar, and used the worthless paper note to plunder the resources and factories of other nations.
So their central bank essentially stole the money of everyone who had pesos by printing more of them.
So their central bank essentially stole the money of everyone who had pesos by printing more of them.
Quote is from a Chinese propaganda site, but they're not wrong about this.
I recall the Mexican peso was about 24 to $1 USD in 1980.
Overnight it dropped to about 50 pesos to $1 USD.
Today it's 18.5 "new pesos"=18,500 pesos to $1 USD.
What is strange is the standard of living is generally higher today, but Baja Sur Mexico may be uniquely more prosperous than the mainland (except Mexico City and Guadalajara).
Just the savers. Debtors made out.
Savers lost a ton of dough in Mexico at the first big devaluation. Overnight you would lose almost 50% of your net worth.
France Calls on Europe to Ditch U.S Dollar, Seek ‘Strategic Autonomy’
As soon as you use a name like "dollar", then the games start because that breaks the explicit valuation by weight of silver.
Rounds were selling for $25/oz in the past six months.
« First « Previous Comments 79 - 118 of 190 Next » Last » Search these comments
This is kind of funny because "peso" literally means "weight" of silver. But there is no silver in the peso anymore.
The US dollar has lost about 97% of its value from the time the Federal Reserve was created.
Why do we bother with their shit fiat currency at all? There is plenty of silver to use as currency, no shortage. And you can be sure its value won't go to zero like it does with all fiat currency eventually.
Would be nice if there were easily available small weights of pure silver available, but in the meantime, we could just use old US silver coins.
The important thing is to value currency by weight of pure silver, not bullshit pesos or dollars.