Best guess re Cash ? + BRICS

[MountainGirl]

Eventually, it will be gone/phased out...
What's your best guess as to how soon?
My guess is 5yrs at the earliest, 10 at the latest.

What say you?

[Slippy]

Eventually, it will be gone/phased out...
What's your best guess as to how soon?
My guess is 5yrs at the earliest, 10 at the latest.

What say you?

United States cash money will exist as long as the United States of America exists.

More and more corporations, small businesses etc will do what they can to accept alternative payments (electronic) instead of cash money at transaction. But cash will be there as long as the US is there.

So the question might be; How long will the United States of America exist?

[Sasquatch]

MG I would've agreed with your guess but from what I'm seeing lately the Great Reset is being sped up. But Slippy's got it right. They will charge and convict Trump on sedition and once that is done the takeover is complete. Expect draconian laws implemented soon after (notice I didn't say passed).

[1skrewsloose]

My first thought was, what, are we going back to pieces of eight? With all the illicit activity in the world I'm sure a standard will come about. Fuck the Fed Reserve, Will everyone have a precious metal test kit and scale before making a transaction? Or maybe another country's currency? How the hell can you trust them with all the shit that's going on. Think it was Venezuela, folks were actually burning paper money to cook food! When it comes to that, guns and ammo will be king.

[BucketBack]

United States cash money will exist as long as the United States of America exists.

More and more corporations, small businesses etc will do what they can to accept alternative payments (electronic) instead of cash money at transaction. But cash will be there as long as the US is there.

So the question might be; How long will the United States of America exist?

As long as the reserve currency status remains

[1skrewsloose]

^^^This is it, isn't it! THE U.S . HAS NO RESERVE, they spend way into the future. Like getting a loan from quick cash place to hold you over till next paycheck, only when you pay you're farther behind than you were before. Can we get some folks in the Gov that understand Economics 101!!

AKA, count your chickens before they're hatched, B.S.

[MountainGirl]

United States cash money will exist as long as the United States of America exists.

More and more corporations, small businesses etc will do what they can to accept alternative payments (electronic) instead of cash money at transaction. But cash will be there as long as the US is there.

So the question might be; How long will the United States of America exist?

I hear ya - but do you mean LITERALLY the United States of America not existing? Like...the Soviet Union no longer exists?
(Figuratively speaking the USofA doesn't exist now...grrrr...)

But if you did mean literally - how would having a 'digital money system only' prevent the US from existing?

Well.. aside from the likelihood of triggering CWII over it, I mean.

[MountainGirl]

MG I would've agreed with your guess but from what I'm seeing lately the Great Reset is being sped up. But Slippy's got it right. They will charge and convict Trump on sedition and once that is done the takeover is complete. Expect draconian laws implemented soon after (notice I didn't say passed).

Yeah...I'm getting that, too.
It's starting to slide downhill at avalanche speed.

[Inor]

We will have some direction to a lot of your questions in August. That is when the BIRCS people have their big powwow. If they really do come up with some kind of combined currency backed by a basket of gold and oil, it could get real interesting.

[Denton]

We’ve been living quite nicely for years due to the petrodollar being the reserve currency. That’s coming to an end and quicker than the experts will admit. Biden is doing everything he can to make sure of that. He alienated the House of Saud so they are now accepting other currencies for oil. Big hit to the dollar. He destroyed our oil production so that we can’t compete. Another hit.
Meanwhile, our federal government is spending money we don’t have at a blinding pace, making the dollar even more worthless. What foreign government wants to hold a currency that is losing value? Governments are getting rid of the dollar, further lessening its value.
We’ve been helplessly watching this train wreck unfold before our eyes. The cars are going to slam into a hillside with all of us in them- suddenly. Soon, I believe, we are going to wake up in a new, terrifying world. Those in power will keep the advance warning from us. They want to be safely out of reach before we realize what hit us.

[MountainGirl]

We’ve been living quite nicely for years due to the petrodollar being the reserve currency. That’s coming to an end and quicker than the experts will admit. Biden is doing everything he can to make sure of that. He alienated the House of Saud so they are now accepting other currencies for oil. Big hit to the dollar. He destroyed our oil production so that we can’t compete. Another hit.
Meanwhile, our federal government is spending money we don’t have at a blinding pace, making the dollar even more worthless. What foreign government wants to hold a currency that is losing value? Governments are getting rid of the dollar, further lessening its value.
We’ve been helplessly watching this train wreck unfold before our eyes. The cars are going to slam into a hillside with all of us in them- suddenly. Soon, I believe, we are going to wake up in a new, terrifying world. Those in power will keep the advance warning from us. They want to be safely out of reach before we realize what hit us.

I agree totally.
So whadda we do, Kooka Choo?
All I can think of is convert our ready cash now into tangibles. (Preps, etc)
Fwiw, no gold/silver for me. When/if the 'system' recovers, it'll have the flavor of digital only/digital fed coin.
As it is, me & my guy are gonna be stuck playin in that game - since our source of income is SocSec - and I doubt the remaining financial institutions will be allowed to let us take out those monthly deposits in cash.

[Denton]

I agree totally.
So whadda we do, Kooka Choo?
All I can think of is convert our ready cash now into tangibles. (Preps, etc)
Fwiw, no gold/silver for me. When/if the 'system' recovers, it'll have the flavor of digital only/digital fed coin.
As it is, me & my guy are gonna be stuck playin in that game - since our source of income is SocSec - and I doubt the remaining financial institutions will be allowed to let us take out those monthly deposits in cash.

Silver is good for me as I know people who will take it for produce, honey, eggs, beef, etc. that won’t help when it comes to paying for electricity and such bills.
Yeah, it’ll be the digital mark of the beast. I figure dying is going to be an option.

[TJC44]

I'll throw this monkey wrench out.
Solar cycle 25 is heating up. We have seen the sun spitting out M- class & X class bursts, resulting in G2, G3, and at least G4 storm.
Most people Oohh & Aahh over the Northern lights down to Mid-latitude states.
I'm waiting for that one that's WAY overdue to shut the whole freaking works down.
Problem solved.

[Inor]

We’ve been living quite nicely for years due to the petrodollar being the reserve currency. That’s coming to an end and quicker than the experts will admit. Biden is doing everything he can to make sure of that. He alienated the House of Saud so they are now accepting other currencies for oil. Big hit to the dollar. He destroyed our oil production so that we can’t compete. Another hit.
Meanwhile, our federal government is spending money we don’t have at a blinding pace, making the dollar even more worthless. What foreign government wants to hold a currency that is losing value? Governments are getting rid of the dollar, further lessening its value.
We’ve been helplessly watching this train wreck unfold before our eyes. The cars are going to slam into a hillside with all of us in them- suddenly. Soon, I believe, we are going to wake up in a new, terrifying world. Those in power will keep the advance warning from us. They want to be safely out of reach before we realize what hit us.

That's one way to look at it... But a thought occurred to me reading your post...

It is impossible to have a globalist government without a globalist currency. Sure, we are not going to be able to afford all of the "bling" anymore. But I will happily trade "bling" for the chance at freedom.

(Since we cannot change it anyway, we may as well find a way to look at it from a positive perspective.)

[StratBastard]

My first thought was, what, are we going back to pieces of eight? With all the illicit activity in the world I'm sure a standard will come about. Fuck the Fed Reserve, Will everyone have a precious metal test kit and scale before making a transaction? Or maybe another country's currency? How the hell can you trust them with all the shit that's going on. Think it was Venezuela, folks were actually burning paper money to cook food! When it comes to that, guns and ammo will be king.

No pieces of eight. But the 18 states currently monetizing gold and silver to combat this comes into play: what if they decide to mint their own coins under the umbrella of state's rights? Or gold and silver backed notes? That would be more than interesting... and maybe the precursor to CWII. As to precious metal testing kits: most establishments have to buy a cash register, and because of counterfeiting usually make a physical examination of bills $20 and up anyway.... and a PM electronic scanner costs much less and takes no real time at all. And better yet, physical coins aren't needed: there are already financial establishments which will issue you a debit card linked to the daily value of your physical gold/silver deposits. With this going on, PM's will still be in play. Might be more and more people rush to them when they discover the ones and zeroes replacing the devaluating printed dollar are even worse. We'll see. But CBDC is not going to just sweep away PM's, or be able to compete with a BRICS gold and oil-backed currency. That may achieve a status above and beyond what the petrodollar once enjoyed. If American CBDC values become worthless internationally, we will be toast. Revenge for the decades of bullying and influence with the petrodollar... which only had status because of our agreement with OPEC.

[MountainGirl]

..e at all. And better yet, physical coins aren't needed: there are already financial establishments which will issue you a debit card linked to the daily value of your physical gold/silver deposits. With this ...

*perk*

Where. Who.

[MountainGirl]

No pieces of eight. But the 18 states currently monetizing gold and silver to combat this comes into play: what if they decide to mint their own coins under the umbrella of state's rights? Or gold and silver backed notes? That would be more than interesting....

Hey! Look what just popped up!

Texas Committee Passes Bill To Create 100% Reserve Gold And Silver-Backed Transactional Currencies

https://www.zerohedge.com/commodities/texas-committee-passes-bill-create-100-reserve-gold-and-silver-backed-transactional

Rep. Mark Dorazio (R) introduced HB4903 on March 10 (it passed on May 2nd) and it has since garnered a bipartisan coalition of 42 cosponsors. The legislation would require the state comptroller to establish and provide for the issuance of gold and silver specie and also establish digital currencies that are 100% backed by gold and silver, and 100% redeemable in cash, gold, or silver.

Specie is defined as “a precious metal stamped into coins of uniform shape, size, design, content, and purity, suitable for or customarily used as currency, as a medium of exchange, or as the medium for purchase, sale, storage, transfer, or delivery of precious metals in retail or wholesale transactions.”

In establishing gold and silver specie, the comptroller would be required to authorize the Texas Bullion Depository as issuer and ensure that the holder of the specie may use the specie as legal tender in payment of debt and readily transfer the specie to another person.

The comptroller would also be required to create a mechanism to use 100% backed gold and silver digital currencies in everyday transactions..."

There's a lot more in the article that i don't fully understand.

[White Shadow]

If that starts getting too close to passing I suspect the feds are going to have a problem with it.

[Denton]

“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”

U.S. constitution, Article one, section eight.

Congress is responsible for COINING money (not fiat currency). That doesn’t mean allowing a huge bank print currency for the nation and borrowing the currency from that bank at an interest.

[1skrewsloose]

I like this thread:)

[White Shadow]

If Texas passes this bill it could get very interesting. Even if the currency is not put into production, having the mechanisms worked out would be useful when the secede.

Would also cause a crap load of other states to start looking at doing their own currency, although most of those states would be doing it for profit and to totally enslave their populations ( new coat of pain on "the company store" ).

[Box of frogs]

We will have some direction to a lot of your questions in August. That is when the BIRCS people have their big powwow. If they really do come up with some kind of combined currency backed by a basket of gold and oil, it could get real interesting.

I think Brazil and China hold that back.
Isn’t China the superpower of currency manipulation and Brazils economy was in the toilet 5 years ago and is barely hanging on to the rim currently.
I’m not even sure how S.A. got included in the conversation with the other countries other than their mining exploration.

I’d be hesitant to rush into any new world currency where China and Brazil had any influence.
Maybe I don’t understand the situation with BRICS well enough.
BoF

[MountainGirl]

If Texas passes this bill it could get very interesting. Even if the currency is not put into production, having the mechanisms worked out would be useful when the secede.

Would also cause a crap load of other states to start looking at doing their own currency, although most of those states would be doing it for profit and to totally enslave their populations ( new coat of pain on "the company store" ).

Hmmm... Either you or I are not quite right on our understanding (and it's probably me). My take is - Even if/when say, a little texas coin is produced, say in silver, the value would still be based on silver spot, which would still be expressed in USD... so there's no state 'company store' thing in play; it's just a way around the US fiat, fedcoin or cbdc. Yes? No?

LOL re when we secede. There is that, yep :)

[White Shadow]

The company store thing was for other states that see what Texas is up to. A scumbag state like my own would want to get in on having their own currency for the purpose of stealing more of our money and enslaving us even further. Their currency wouldn't be based on / redeemable in gold or silver. It would be their own little fiat currency backed by nothing more than the full faith of the commie state issuing it.

[StratBastard]

*perk*

Where. Who.

https://goldsilverbitcoin.com/how-you-can-get-a-gold-backed-debit-card/#:~:text=When%20you%20use%20a%20gold-backed%20card%2C%20your%20bank,from%20them%20in%20 order%20to%20minimize%20transportation%20costs.

https://www.veracash.com/

https://nomadcapitalist.com/finance/gold-backed-debit-card/

[MountainGirl]

https://goldsilverbitcoin.com/how-you-can-get-a-gold-backed-debit-card/#:~:text=When%20you%20use%20a%20gold-backed%20card%2C%20your%20bank,from%20them%20in%20 order%20to%20minimize%20transportation%20costs.

https://www.veracash.com/

https://nomadcapitalist.com/finance/gold-backed-debit-card/


Very interesting! Love learning something new every day, and I carefully read all three links.

Not that I would do this particular set-up... but it's too bad none of it is available for US citizens, because of US banking laws.

Thanks for your reply :)

The search continues...

[StratBastard]

Very interesting! Love learning something new every day, and I carefully read all three links.

Not that I would do this particular set-up... but it's too bad none of it is available for US citizens, because of US banking laws.

Thanks for your reply :)

The search continues...

I do remember seeing one of the stateside private PM depositories offering it as well (maybe a couple years ago?), but now I can't find it (somehow, Utah rises to the top of the increasingly useless brain). I'll keep looking.

Suspicious that nearly everyone else around the globe is increasingly retreating to gold and silver, yet the USA plan is to develop a digital currency more worthless than the current paper ones. If that's their plan to bankrupt this country, it's a good one.

Cheers to deboatayuz.

[Inor]

I think Brazil and China hold that back.
Isn’t China the superpower of currency manipulation and Brazils economy was in the toilet 5 years ago and is barely hanging on to the rim currently.
I’m not even sure how S.A. got included in the conversation with the other countries other than their mining exploration.

I’d be hesitant to rush into any new world currency where China and Brazil had any influence.
Maybe I don’t understand the situation with BRICS well enough.
BoF

Their goal is not to get you and I to use BRICS-bucks (or whatever they call it). Their goal is to freeze U.S. and western European investors out.

I do expect them to have some initial success in that regard. What really confounds me is how they are getting India and China to cooperate in this effort. For that reason (and several others) I doubt it will hold together for a long time. But it may be long enough to destroy the U.S. economy.

[1skrewsloose]

^^^I get it now, you play our game, by our rules because we don't accept that worthless US greenback anymore. Holy shit, we're in deeper doo-doo than I thought.

Maybe I've said this before, but I like this thread.

[StratBastard]

I do expect them to have some initial success in that regard.

Without question they will.

If they go the Bretton-Woods route, they will equally tie the value of gold to the Yuan and the Ruble. This alone will make these currencies more attractive around the globe. Add in that the BRICS members have already agreed to trade energy and other commodities between themselves, utilizing their own currencies. Saudi agreeing to sell oil to them without the dollar involved puts the final nail in the dollar coffin.

They will likely eventually run into the very same problem the Bretton-Woods system experienced: one of them will begin printing currency far in excess of their gold reserves, the world will catch on, and they too will go off the gold standard. But it will prevail long enough to destroy us.

[StratBastard]

DeSantis Bans Central Bank Digital Currency, Prohibits Credit Card Companies From Tracking Gun Buys

https://www.dailywire.com/news/desantis-bans-central-bank-digital-currency-prohibits-credit-card-companies-from-tracking-gun-buys?fbclid=IwAR1KK0ZGo9lgL7i-41IW_2l7gDiwM2KOOWoK8RHmbM-mSbeUiCVny99uSAE

Another fly in the CBDC ointment.

22726

[MountainGirl]

LOL - I bumped this thread for another reason and found the BRICS discussion. Whole thread worth the re-read.

Hey honchos - could one of you please add " + BRICS " into the thread title? I couldn't edit it in. Thanks!!

***********

The reason I bumped the thread is because I went to cash only today.

I got a midnight text from my bank's fraud division saying "Did you attempt $xx.xx at X**** with card x0591? Reply YES or NO. Opt Out reply STOP." I texted back NO, got msg "Your card is now blocked...contact your financial institution, Case #xxxx ..." I got up and called their 24/7 number and put a permanent block on that card - which has since been destroyed; without replacement. I will get the funds back, though.

PO & I went to the local branch this morning, changed a few things around; I left a couple hundred in each of my two accounts, withdrew the balances and walked out with a stuffed purse. :thumb:

There is nothing I need to order online or pay for otherwise with a card. The stores I shop at still accept cash. <--If that changes, because of cbdc, fedcoin, or whatever - I'll figure something else out. And until then, I can go to the bank once a month, after my SocSec comes in, and withdraw the bulk of it.
I'm done with ALL this :bs:

[BucketBack]

My older phone went MIA during moving, but the number was getting some weird calls. It's probably under or between a car seat.

I buy gas and beer with $$$ at the outpost Mom worked at in the '80's, a small Mom and Pop shop with cheap prices.
I need more $$$, but the debit card is used at Rite Aid for the Keystone Light, where I get my cashback with reward points.

Cash is King though and I'm heading back to saving the Soc Security

[MountainGirl]

My older phone went MIA during moving, but the number was getting some weird calls. It's probably under or between a car seat.

I buy gas and beer with $$$ at the outpost Mom worked at in the '80's, a small Mom and Pop shop with cheap prices.
I need more $$$, but the debit card is used at Rite Aid for the Keystone Light, where I get my cashback with reward points.

Cash is King though and I'm heading back to saving the Soc Security

Yep.
I ended up needing a debit card for only one thing, and it's the only outfit that will have the card number.
Patriot Mobile. I told Verizon to shove it last Dec, and the only way to pay my phone bill is with a card.
I actually thought about it for a long time, giving up the phone, but decided I needed a way to stay in touch w/PO when he's out prowling.

[Michael_Js]

Yep.
I ended up needing a debit card for only one thing, and it's the only outfit that will have the card number.
Patriot Mobile. I told Verizon to shove it last Dec, and the only way to pay my phone bill is with a card.
I actually thought about it for a long time, giving up the phone, but decided I needed a way to stay in touch w/PO when he's out prowling.

I was looking at Patriot mobile when I drop my ex off my Verizon plan. Thoughts for their service? I assume they use one of the major carriers...

Thank you

[MountainGirl]

I was looking at Patriot mobile when I drop my ex off my Verizon plan. Thoughts for their service? I assume they use one of the major carriers...

Thank you

The service is absolutely excellent; highly recommended.
PatriotMobile.com - there's a button on the front page to check if it's offered in your area -
If you choose 'Dan Bongino' as a promo code the activation fee is waved ~
I got the cheapest plan, $35/mo... and a choice between verizon, at&t and one other major carrier..
I chose AT&T for out here, works well.
For sure it beats the crap out of the $80/mo Verizon. Pffft. LOL

[BucketBack]

Found my phone. It was in the console that has no top, so it was in plain sight.

Anyway, while browsing another gun forum I found this YT


https://www.youtube.com/watch?v=Ef7RgJ48i74&t=1s

[BucketBack]

The timeline of default is sometime on or after 2025. The mechanism is as follows and is easy to understand:

1) About 42% of US treasury debt is short term (0-2 years), taken out during the pandemic at near 0 rates, maturing in 2025.

2) This debt will need to be re-issued at prevailing much higher interest rates by 2025.

3) As a result of that replacement of short term debt at much higher interest, by 2025 the interest payments alone will rise to 1.2 trillion/yr, which will be 25% of federal tax revenues, about double their current burden. This isn't abstract at all. It's how the treasury debt is structured.

Note that this assumes stable (not declining) tax revenues. If we're in a recession or worse by then, this will accelerate debt accumulation or result in drastically cut spending in all non interest areas.

The fed will thus face this choice and a dilemma:

1) Fail to make interest payments, there goes the dollar. It will join a very long list of worthless paper currencies.

The second option is more likely but not any better:

2) If the government basically manufactures funds out of thin air (as it always does) using some trick to pay off the debts, like some "QE" program which results in a a drastically cheaper dollar, technically they will avoid the default but de facto, there goes the dollar anyway as the collapse will be exported into the much higher RE prices, and really much higher prices on *everything*. Why do you think now RE costs half a million in podunk wasteland? Well not exactly, but it will get much worse. I think everything will quadruple in price as the best case scenario. They are out of options at this point. Saving the dollar is not their priority. They want to extract as much value out of it before it totally vanishes.

[BucketBack]

https://www.ar15.com/media/mediaFiles/60489/interest_JPG-2911306.JPG

[Inor]

The timeline of default is sometime on or after 2025. The mechanism is as follows and is easy to understand:

1) About 42% of US treasury debt is short term (0-2 years), taken out during the pandemic at near 0 rates, maturing in 2025.

2) This debt will need to be re-issued at prevailing much higher interest rates by 2025.

3) As a result of that replacement of short term debt at much higher interest, by 2025 the interest payments alone will rise to 1.2 trillion/yr, which will be 25% of federal tax revenues, about double their current burden. This isn't abstract at all. It's how the treasury debt is structured.

Note that this assumes stable (not declining) tax revenues. If we're in a recession or worse by then, this will accelerate debt accumulation or result in drastically cut spending in all non interest areas.

The fed will thus face this choice and a dilemma:

1) Fail to make interest payments, there goes the dollar. It will join a very long list of worthless paper currencies.

The second option is more likely but not any better:

2) If the government basically manufactures funds out of thin air (as it always does) using some trick to pay off the debts, like some "QE" program which results in a a drastically cheaper dollar, technically they will avoid the default but de facto, there goes the dollar anyway as the collapse will be exported into the much higher RE prices, and really much higher prices on *everything*. Why do you think now RE costs half a million in podunk wasteland? Well not exactly, but it will get much worse. I think everything will quadruple in price as the best case scenario. They are out of options at this point. Saving the dollar is not their priority. They want to extract as much value out of it before it totally vanishes.

:potd:

Yep - That's pretty much it in a nutshell...

The side-effect of all that (which even most of the financial sites are not talking about) is: What about the shortages of everything that come along with hyper-inflation? Who is going to bother going to work to produce products and services when the profits you make from selling anything will not buy enough to survive on? That is when the real fun starts.

[Prepared One]

:potd:

Yep - That's pretty much it in a nutshell...

The side-effect of all that (which even most of the financial sites are not talking about) is: What about the shortages of everything that come along with hyper-inflation? Who is going to bother going to work to produce products and services when the profits you make from selling anything will not buy enough to survive on? That is when the real fun starts.

The spin doctors, the MSM are already shoving their dicks up the sheep's ass. Just hear us! it's all well and everything will be just fine dammit. Buy into "Bidenomics" and do as we say. The money people won't buy in, they make money no matter how stupid the guy is in the White House is. The sheep will follow, I didn't, and wont.

[StratBastard]

24300

[BucketBack]

MeatChicken don't be liking that Bitch much

[Inor]

Another wrinkle in the mix as the big BRICS meeting starts next week...

Both China and Russia's currencies are getting absolutely slammed this week. In the case of China, they might be on the verge of a full-fledged currency meltdown due to their real estate crash. Their two biggest real estate developers have both missed their bond payments for the last 2 weeks and are in serious trouble. Since the majority of the bond holders are Chinese, this is a BIG damn deal! Also, they are starting to see some deflation. Just based on how their economy is structured, deflation for them is an even bigger deal than it is here.

Russia, for everything that has been coming out in the MSM, is also in serious trouble.

How do both of these affect the big BRICS meeting this week? Your guess is as good as mine. But if I had to hazard a guess, I would say that both events significantly INCREASE the likelihood of them announcing some kind of combined gold-backed (or other commodity-backed) currency.

Everybody, including China, Japan, Mexico, India and France have been selling U.S. treasuries slowly over the last 3 months.

What say ya'll?

[StratBastard]

Another wrinkle in the mix as the big BRICS meeting starts next week...

Both China and Russia's currencies are getting absolutely slammed this week. In the case of China, they might be on the verge of a full-fledged currency meltdown due to their real estate crash. Their two biggest real estate developers have both missed their bond payments for the last 2 weeks and are in serious trouble. Since the majority of the bond holders are Chinese, this is a BIG damn deal! Also, they are starting to see some deflation. Just based on how their economy is structured, deflation for them is an even bigger deal than it is here.

Russia, for everything that has been coming out in the MSM, is also in serious trouble.

How do both of these affect the big BRICS meeting this week? Your guess is as good as mine. But if I had to hazard a guess, I would say that both events significantly INCREASE the likelihood of them announcing some kind of combined gold-backed (or other commodity-backed) currency.

Everybody, including China, Japan, Mexico, India and France have been selling U.S. treasuries slowly over the last 3 months.

What say ya'll?

Been coming for a loooong time. China, Russia, and India have been buying gold by the barge-load (a real FUCKTON, as defined in another thread) for a decade now. Meanwhile, we keep printing fiat dollars, giving away hundreds of billions to foreigners, and promising more unfunded boondoggles to buy votes... requiring more debt and more printing. If I were them, I couldn't hope for a better time to introduce a new gold-backed currency.

[Chiefster23]

OK. This all sounds pretty alarming. But what do we DO? I have my IRA very conservatively invested in Schwab funds and a dozen blue chip stocks. I can’t just withdraw it all to buy bullets and farmland. So how do we invest? I need this money to earn something to continue to support me in retirement. I can withdraw more cash from my bank account and bury it in the back yard, but what then? Seems like we are screwed no matter what we do.

[BucketBack]

I donated 15 packs of sandpaper, I mean not so Sweety brand TP to goodwill yesterday. It was in my garbage can in the pole barn. It has been replaced with Northern Tissue, since I didn't want a chapped ass while uncovering my stashes when SHTF

[MountainGirl]

Another wrinkle in the mix as the big BRICS meeting starts next week...

Both China and Russia's currencies are getting absolutely slammed this week. In the case of China, they might be on the verge of a full-fledged currency meltdown due to their real estate crash. Their two biggest real estate developers have both missed their bond payments for the last 2 weeks and are in serious trouble. Since the majority of the bond holders are Chinese, this is a BIG damn deal! Also, they are starting to see some deflation. Just based on how their economy is structured, deflation for them is an even bigger deal than it is here.

Russia, for everything that has been coming out in the MSM, is also in serious trouble.

How do both of these affect the big BRICS meeting this week? Your guess is as good as mine. But if I had to hazard a guess, I would say that both events significantly INCREASE the likelihood of them announcing some kind of combined gold-backed (or other commodity-backed) currency.

Everybody, including China, Japan, Mexico, India and France have been selling U.S. treasuries slowly over the last 3 months.

What say ya'll?

I'm thinking that before a new system has any chance of succeeding - the old system must be crashed. I'm not familiar w/China's situation but I know the Ruble has tanked in the last few days. Guessing they (BRICS countries) wont bother with hard currency; but will birth a gold-backed digital BRIC-coin system... Maybe cbdc, maybe not. Thinking not - unless they'd agree to which 'country' = 'central' in 'central bank digital currency'.

This is all going to go really smooth and slick - or a complete goat rope. At the moment, my guess is on the goats.
Either way - :popcorn:

[Prepared One]

What say me? Two words: We're fucked.

One way or another the Washington clowns need to keep this whole sham appearing as normal as possible lest they spook the sheep. They need to keep confidence high and maintain control of the monetary system, such as it is, in order to fund their maintenance programs (Bribes for votes) or else the sheep will lose confidence in the fiat dollar. Then they may come after their scrawny heads.

I am no financial wiz kid but I don't see how they keep control for much longer. It's a house built on quicksand and it's sinking fast. Tax, spend, and print money, are a bad combination. Add to that, inflation is still an issue despite what the talking bobble heads and dementia Joe says, gas prices are on the rise again, interest rates are through the roof, Americans are more in debt then ever, and wages aren't keeping up with inflation. The employment numbers are down, but that's only because it takes two or three people in a household to work 2 jobs just to be able to eat and pay rent.

They may step up their game on pushing the CBDC, which is just another form of fiat money but offers them more control. Going back to a gold backed currency may help in the short run, but long term? When considering the Governments irresponsible fiscal policies, I don't know. BRICS should be interesting, they have to do something. Most countries in the world are tired of us using our dollar to control them. Time is running out for the king and the dollar.

I think when it goes it will go quick, there is too much strain on the system. MG and I are as prepared as we can be for that eventuality.

[Inor]

OK. This all sounds pretty alarming. But what do we DO? I have my IRA very conservatively invested in Schwab funds and a dozen blue chip stocks. I can’t just withdraw it all to buy bullets and farmland. So how do we invest? I need this money to earn something to continue to support me in retirement. I can withdraw more cash from my bank account and bury it in the back yard, but what then? Seems like we are screwed no matter what we do.

Obviously, I'm a computer guy, not a financial advisor...

I am taking a "wait and see" approach. But pay REALLY close attention to what come out of the BRICS meeting this week.

Michael Burry, (the investor/mathematician that predicted the '08 crash - I.E. the guy the movie "The Big Short" was based on), dropped a $1.6 billion bet this week on S&P 500 puts - bets the market will fall significantly in the short term. I think he is probably right but that trade is too risky for my tastes. Depending on how the media portrays this week's BRICS meeting, it could have the exact opposite effect.

[MountainGirl]

OK. This all sounds pretty alarming. But what do we DO? I have my IRA very conservatively invested in Schwab funds and a dozen blue chip stocks. I can’t just withdraw it all to buy bullets and farmland. So how do we invest? I need this money to earn something to continue to support me in retirement. I can withdraw more cash from my bank account and bury it in the back yard, but what then? Seems like we are screwed no matter what we do.

I have no financial advice for you my friend, others here might.
All I can offer is 'prepper' ideas...and what I would do right now (had I not already) and why.

1. Have a $4-5 thousand in cash at home in a safe, in small denominations ($5s, 10s, 20s, 50s).
There was a time when I'd say have ALL your money in cash at home - for purchasing privacy reasons - but that time has passed. If/when the USD tanks, focus shifts to surviving on a local scale; for a while there may still be nearby places that will sell you a loaf of bread for $5 and you dont want to give them a $10 expecting change. With luck, some things will still be able to be purchased with cash, for a while; but I doubt long enough for you to use ALL the money you currently have in your accounts. Any left-over greenbacks can be used for fire-starter, toilet paper, etc.

2. Make sure there's no critical items still waiting to be purchased.
The supply chain is totally fcked; chinese parts no longer available, parts needed to keep US goods moving. We have back-up water pumps for the well, solar charging ability for rechargeable batteries, even a healthy supply (100's) of bic lighters. Little stuff like that.

3. Figure out ahead of time (like now) how to do things, with no re-supply of fuel, etc. Can you process your harvest over a wood fire? Do you have trees on your property and hand saws? That kind of thing. Down to the core.

Will it ever get to that point? Who knows. For me, being prepped for worst case scenario makes everything on the way down to that point easier to mitigate because I know I can go deeper if need be.

[Slippy]

Inor,

Never in my adult life have I been so confused about what used to be simple economic fundamentals. I don't understand why and how things work now-a-days. So, I work a little, save a little, spend a lot :biglaugh:, and invest some.

I can't think of much else to do anyway...but the bottom line is that there is some FUBAR stuff going down in this World Done Gone Crazy!


Obviously, I'm a computer guy, not a financial advisor...

I am taking a "wait and see" approach. But pay REALLY close attention to what come out of the BRICS meeting this week.

Michael Burry, (the investor/mathematician that predicted the '08 crash - I.E. the guy the movie "The Big Short" was based on), dropped a $1.6 billion bet this week on S&P 500 puts - bets the market will fall significantly in the short term. I think he is probably right but that trade is too risky for my tastes. Depending on how the media portrays this week's BRICS meeting, it could have the exact opposite effect.

[MountainGirl]

....

They may step up their game on pushing the CBDC ...

I think when it goes it will go quick, there is too much strain on the system. ...

Yes! And, when it goes quick (helped along by their actions/reactions), there will be the perfect justification to Declare an Emergency -
and put in all necessary measures, including CBDC and FedCoin, in light of this American Fiscal Crisis!!

Measures that will make the Patriot Act look like the directions on a box of Jello.

[Chiefster23]

In my above post, I was referring to some of the less than SHTF things that may be coming. If everything collapses, yes money and investments will be moot. But I’m thinking that debt will still drastically increase, the Fed will continue to raise rates, inflation will get worse, gas and energy will become much more expensive. And the government just might dip into our savings and retirements with a bail-in. These are the things that concern me most. In fact, I believe that all these things are very likely to occur in the next few months. If wide spread violence starts up over the next election, well then all bets are off and the wheels will come off the country. But until then, where to put our money?

[BucketBack]

What say me? Two words: We're fucked.

One way or another the Washington clowns need to keep this whole sham appearing as normal as possible lest they spook the sheep. They need to keep confidence high and maintain control of the monetary system, such as it is, in order to fund their maintenance programs (Bribes for votes) or else the sheep will lose confidence in the fiat dollar. Then they may come after their scrawny heads.

I am no financial wiz kid but I don't see how they keep control for much longer. It's a house built on quicksand and it's sinking fast. Tax, spend, and print money, are a bad combination. Add to that, inflation is still an issue despite what the talking bobble heads and dementia Joe says, gas prices are on the rise again, interest rates are through the roof, Americans are more in debt then ever, and wages aren't keeping up with inflation. The employment numbers are down, but that's only because it takes two or three people in a household to work 2 jobs just to be able to eat and pay rent.

They may step up their game on pushing the CBDC, which is just another form of fiat money but offers them more control. Going back to a gold backed currency may help in the short run, but long term? When considering the Governments irresponsible fiscal policies, I don't know. BRICS should be interesting, they have to do something. Most countries in the world are tired of us using our dollar to control them. Time is running out for the king and the dollar.

I think when it goes it will go quick, there is too much strain on the system. MG and I are as prepared as we can be for that eventuality.

Well for the daily dose of doom and gloom, this CP vid I haven't finished starts off like you said


https://www.youtube.com/watch?v=MpDigNoo4gI&t=322s

[StratBastard]

In my above post, I was referring to some of the less than SHTF things that may be coming. If everything collapses, yes money and investments will be moot. But I’m thinking that debt will still drastically increase, the Fed will continue to raise rates, inflation will get worse, gas and energy will become much more expensive. And the government just might dip into our savings and retirements with a bail-in. These are the things that concern me most. In fact, I believe that all these things are very likely to occur in the next few months. If wide spread violence starts up over the next election, well then all bets are off and the wheels will come off the country. But until then, where to put our money?

Bail-ins. I see it coming here too. The only way to avoid it is to have your capital OUT of the banks. But wads of cash under your mattress will become worthless eventually too. Convert to hard assets: preps of course, and gold and silver come to mind.

[MountainGirl]

Bail-ins. I see it coming here too. The only way to avoid it is to have your capital OUT of the banks. But wads of cash under your mattress will become worthless eventually too. Convert to hard assets: preps of course, and gold and silver come to mind.

You mean gold and silver in your hand - not 'gold-backed IRA's' etc. Right?

[StratBastard]

You mean gold and silver in your hand - not 'gold-backed IRA's' etc. Right?

Absolutely.

[Inor]

Inor,

Never in my adult life have I been so confused about what used to be simple economic fundamentals. I don't understand why and how things work now-a-days. So, I work a little, save a little, spend a lot :biglaugh:, and invest some.

I can't think of much else to do anyway...but the bottom line is that there is some FUBAR stuff going down in this World Done Gone Crazy!

You and me both pal...

Fundamentals do not seem to matter at all anymore. There have always been a fringe group of big investors that did not pay much attention to stupid stuff like Balance Sheets and Income Statements. They always placed their bets on subjective things like "market sentiment" and the words the CEO/CFO chose to use in their quarterly phone conferences.

But now it seems that NOBODY is paying attention to the numbers and only making decisions based on these weird narratives coming out of press releases and the Fed. Since 80-90% of the decisions for trades are now being made by software, I am thinking everybody has jumped on the OpenAI/ChatGPT bandwagon and it is completely untethered to reality. That is not going to end well. But it should be a hell of a show when the bots finally decide "today is THE DAY to sell". (Don't be standing on the sidewalk by any tall buildings that day. Getting hit by one of those falling bodies would hurt like hell.)

[Inor]

This is the absolute best description of what the new BRICS currency will likely look like and what it ultimately does to the Federal Reserve Note.


https://www.youtube.com/watch?v=7gBQVMiI9AA

[StratBastard]

This is the absolute best description of what the new BRICS currency will likely look like and what it ultimately does to the Federal Reserve Note.


https://www.youtube.com/watch?v=7gBQVMiI9AA

An interesting perspective, and one to think over. The US would be in a position as such, that buying gold would hurt the value of the dollar? If so, all the more reason not to have too many dollars. Thanx for the post Inor!

[MountainGirl]

Currently day 2 of the BRICS summit.

Russia has it's own take:

https://www.rt.com/russia/581641-putin-brics-summit-video/


But this might be more valid - and alleviate some of the fears. Good info right here


https://www.youtube.com/watch?v=XEdTHUTz1mc

[Inor]

Currently day 2 of the BRICS summit.

Russia has it's own take:

https://www.rt.com/russia/581641-putin-brics-summit-video/


But this might be more valid - and alleviate some of the fears. Good info right here


https://www.youtube.com/watch?v=XEdTHUTz1mc

Be very careful with ANYTHING Peter Zeihan says! I follow him pretty closely because every once in a while he comes up with a really good nugget of raw data. But his interpretation of said nuggets are often way off the mark, in my arrogant opinion. He IS a very smart guy, but tends to overthink things when a simpler explanation will do better.

So far, my interpretation of the BRICS meeting is that they are going to move slower on their "BRICS-Bucks" than I thought they would. But they are definitely focused primarily on moving the world away from the petrodollar, but they seem to be more planned and deliberate about it than I thought they would be.

[MountainGirl]

Be very careful with ANYTHING Peter Zeihan says! I follow him pretty closely because every once in a while he comes up with a really good nugget of raw data. But his interpretation of said nuggets are often way off the mark, in my arrogant opinion. He IS a very smart guy, but tends to overthink things when a simpler explanation will do better.

So far, my interpretation of the BRICS meeting is that they are going to move slower on their "BRICS-Bucks" than I thought they would. But they are definitely focused primarily on moving the world away from the petrodollar, but they seem to be more planned and deliberate about it than I thought they would be.

Good to know.

What I found informative, and a tad comforting actually, came from the Russian article:

"The Russian leader claimed the five BRICS members – Russia, China, India, Brazil and South Africa – are becoming the new world economic leaders, adding that their cumulative share of global GDP has reached 26%.
.... Over the past 10 years, mutual investment between the BRICS member states has increased by six times. Their total investments in the world economy have doubled, while cumulative exports account for 20% of the global total, Putin said. "

Only 26%? Only 20%?
No need to burn down the dollar barn yet.
IMO.

[Prepared One]

I don't know. I am putting my money in "Genuine Home Made Slippy Pikes". :bounce:

[StratBastard]

Just a thought: Europe depends on Russian natural gas, buying a whopping 2/3 of their entire output.

What if they pull the same trick we did with the petrodollar, and require all of Europe to purchase that energy in BRICS-bucks. Force them to stockpile BRICS money for energy. Worked for us.

[red442joe]

Good to know.

What I found informative, and a tad comforting actually, came from the Russian article:

"The Russian leader claimed the five BRICS members – Russia, China, India, Brazil and South Africa – are becoming the new world economic leaders, adding that their cumulative share of global GDP has reached 26%.
.... Over the past 10 years, mutual investment between the BRICS member states has increased by six times. Their total investments in the world economy have doubled, while cumulative exports account for 20% of the global total, Putin said. "

Only 26%? Only 20%?
No need to burn down the dollar barn yet.
IMO.
Whoever the fuck wrote that article COMPLETELY lost me at "Russia, China, India, Brazil and South..." RCIBS....
RCIBS!
Fucker needs whipped with a car antenna!
Ass

Joe

[BucketBack]

Good to know.

What I found informative, and a tad comforting actually, came from the Russian article:

"The Russian leader claimed the five BRICS members – Russia, China, India, Brazil and South Africa – are becoming the new world economic leaders, adding that their cumulative share of global GDP has reached 26%.
.... Over the past 10 years, mutual investment between the BRICS member states has increased by six times. Their total investments in the world economy have doubled, while cumulative exports account for 20% of the global total, Putin said. "

Only 26%? Only 20%?
No need to burn down the dollar barn yet.
IMO.

Darn Jews in South Africa

[MountainGirl]

Whoever the fuck wrote that article COMPLETELY lost me at "Russia, China, India, Brazil and South..." RCIBS....
RCIBS!
Fucker needs whipped with a car antenna!
Ass

Joe

Now there's more.

On the last day (yesterday) of the 3-day summit - the following nations were invited to join, full membership will take effect from Jan 1 2024.

Argentine Republic
Arab Republic of Egypt
Federal Democratic Republic of Ethiopia
Islamic Republic of Iran
Kingdom of Saudi Arabia
United Arab Emirates

Source: dw.com
https://www.dw.com/en/brics-expansion-sparks-joy-in-africa/a-66633777

[StratBastard]

Now there's more.

On the last day (yesterday) of the 3-day summit - the following nations were invited to join, full membership will take effect from Jan 1 2024.

Argentine Republic
Arab Republic of Egypt
Federal Democratic Republic of Ethiopia
Islamic Republic of Iran
Kingdom of Saudi Arabia
United Arab Emirates

Source: dw.com
https://www.dw.com/en/brics-expansion-sparks-joy-in-africa/a-66633777

Saudi and the Arab Emirates would put the last nail in our petrodollar coffin.

[red442joe]

Yeah, they're gonna help the democrats send us right straight to third world status.
How fast can the sled go down hill...

Joe

[MountainGirl]

Yeah, they're gonna help the democrats send us right straight to third world status.
How fast can the sled go down hill...

Joe

Like an avalanche at God's own speed.

[BucketBack]

https://www.azquotes.com/picture-quotes/quote-stop-rolling-down-hill-like-a-snow-ball-headed-for-hell-merle-haggard-98-74-29.jpg


He's got a point


https://www.youtube.com/watch?v=sIKUkcNeZfQ

[Prepared One]

As Inor said, they are moving slower and more deliberately than I figured they would. Adding more nations will just add to the power they wield. When all the pieces are in place they will nail the coffin shut on the Petrodollar.

[Slippy]

Wyoming based fast food Taco John 's going toward digital ordering and robotic food prep.


https://cowboystatedaily.com/2023/08/25/wyoming-based-taco-johns-moving-toward-digital-ordering/

[1skrewsloose]

I'm not buying the BRICS stuff, is that recognized by the Swiss Gov?, I don't know. Seems swiss banks are the place to stash your cash. What about illegal activities, will they exchange their billions for brics money, that would be telling on yourself. I don't think this has been very well thought out.

[red442joe]

I suspect a goodly portion of the world hates the U.S. enough to knock us out of the currency standard.
They, also, certainly do not trust the U.S. with regard to gold.
Most of all, the majority of the world, I suspect, wants to end U.S. control/meddling of other nations through financial control.

Joe

[Jester-ND]

once the dollar starts to truly crumble, and everyone looks for someplace to ditch their dollars.... BRICS or actual bricks both better alternatives...

[1skrewsloose]

All money is really just barter in the end isn't it? Just so you don't have to carry a pig or goat on your back.

[Prepared One]

I suspect a goodly portion of the world hates the U.S. enough to knock us out of the currency standard.
They, also, certainly do not trust the U.S. with regard to gold.
Most of all, the majority of the world, I suspect, wants to end U.S. control/meddling of other nations through financial control.

Joe

That's about it in a nut shell Joe. The world is sick to fucking death of us leveraging the petrodollar and reserve currency status against them.