$26.5T in debt, Gold at all-time high, U.S dollar weakening

7,096 Views | 75 Replies | Last: 4 yr ago by mazag08
Dan Scott
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Could it be that the chickens are coming home to roost? It makes me sick thinking about it, since 2008, we've added $20T to the national debt and nothing to show for it. Public schools suck, healthcare costs suck, infrastructure sucks, life expectancy beginning to drop, college costs too much, homeless people in big cities, Opioid crisis, etc. Too much in this country sucks after all this money spent. I guess it proves money can fix everything.

F U to every scumbag politician since 2008 and I only go back to 2008 because that's when I started following.

Been thinking, a few things are holding up the value of the dollar: rest of world sucking, u.s military, and oil demand. If oil demand is cut in half and not coming back soon, what does that mean for the dollar?
MaxPower
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Yup. Neither side is fiscally responsible anymore. If the choice becomes the $3 trillion stimulus the Dems want or nothing then it better be nothing.
Buck Turgidson
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There is a reason why Trump is stocking the Fed board with advocates of the gold standard.

YouBet
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Probably cyclical. We are on the backside of the decline of the current global empire. We got lazy and entitled.

Just have to hope next empire is not China.
Mas89
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What debt? Don't you know the government can just print money?
It's all free.
TyHolden
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O'Doyle Rules
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Careful, you might blow the minds of people who believe "their" party will finally fix it all if only they controlled Congress and the White House.


Everything now is just rearranging the deck chairs on the titanic. The olds will die before they see blood in the streets. If you're under 50, it's gonna be a wild ride.
wyoag93
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We are due for a massive economic depression. We have to be getting close to the tipping point.
titan
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YouBet said:

Probably cyclical. We are on the backside of the decline of the current global empire. We got lazy and entitled.

Just have to hope next empire is not China.
Correct. There are a couple of other possibilities--- a new American one that after breaking up and a "healthy Americanism" section created, basically cutting off the Marxist part; that really strengthens ties with India, Japan and non China parts of East like Singapore and Philippines (this is the preferred `Byzantine' scenario),

A Russia-Euro alliance rather than rivalry --- could shore up much---Russia has the nukes to keep China at bay and Europe could give them considerable infrastructure. Especially if they also get India aboard.

South America continues to be an unknown potential, but probably not the inclination to be the new world hegemony.

FrioAg 00:
Leftist Democrats "have completely overplayed the Racism accusation. Honestly my first reaction when I hear it today is to assume bad intentions by the accuser, not the accused."
pfo
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I'm with Dan Scott on this all the way. The dollar will be devalued initially like a banana republic currency, then like the Weimar Republic. The USA has passed the point of no return. And not only are we not addressing the problem, we aren't even talking about the problem.

The US can never hope to pay off the debt. But soon the US won't even be able to service the debt with anything other than valueless dollars. Gold, silver, land, other real estate and stock in companies with pricing power should retain value.

This isn't new either. When Nixon took us off the gold standard in 1971, I believe, gold sold for $30/Troy oz. Today that number is $1,950. What happened? Governments couldn't print gold but they could print paper money. That's what happened!
titan
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pfo said:

I'm with Dan Scott on this all the way. The dollar will be devalued initially like a banana republic currency, then like the Weimar Republic. The USA has passed the point of no return. And not only are we not addressing the problem, we aren't even talking about the problem.

The US can never hope to pay off the debt.
Would a government re-boot help in any way? (like after the kind of clash we seem headed for) By this process---- strictly speaking, Yeltsin and Putin's Russia didn't have to pay their Soviet Union debt did they? Since a new government. What of the Axis governments we rebuilt? Did they ever really pay their war and pre-war debts, or did those just disappear? Not even talking about Marshal Plan funds given to them.

It seems just possible that a general global re-shuffling might be so chaotic it ends up not mattering to any. Could this be so?
FrioAg 00:
Leftist Democrats "have completely overplayed the Racism accusation. Honestly my first reaction when I hear it today is to assume bad intentions by the accuser, not the accused."
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LOYAL AG
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As long as the world operates in dollars we'll be the last one standing. As badly as we've abused the dollar it's held up reasonably well against other currencies. We're basically outsourcing inflation at this point. At some point you'd think "the world" would tell us thats enough but right now there's no other choice. Everybody has the central bank disease and they're all doing the same thing. What keeps us on top is the position of the dollar as the global currency. Well that and the American Middle Class. As long as we have those two things it's not going to stop no matter how big the debt gets.
Smokedraw01
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pfo said:

I'm with Dan Scott on this all the way. The dollar will be devalued initially like a banana republic currency, then like the Weimar Republic. The USA has passed the point of no return. And not only are we not addressing the problem, we aren't even talking about the problem.

The US can never hope to pay off the debt. But soon the US won't even be able to service the debt with anything other than valueless dollars. Gold, silver, land, other real estate and stock in companies with pricing power should retain value.

This isn't new either. When Nixon took us off the gold standard in 1971, I believe, gold sold for $30/Troy oz. Today that number is $1,950. What happened? Governments couldn't print gold but they could print paper money. That's what happened!


Which other currency is in a better situation?
AggieKeith15
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Definitely Not A Cop
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I've been buying a bunch of bit coin for this exact reason.
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pfo
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Titian, I understand what you are saying. But if the USA flees its debt obligation, it's US savers that would be hurt the most. The US debt is primarily owed to US citizens. This comes in the form of T-Bills, Treasury Bonds, cash accounts in brokerage houses are backed by short term gov debt and so on. Solvent foreign countries and individuals aren't stupid enough to own much US debt.

And this is a global problem. Japan is in worse shape than we are when it comes to debt. But at least Japan has a homogenous population of people who love their country. The USA is half full of ignorant, stupid, parasites that vote for "free stuff". Many of these fools hate a prosperous America because they are ignorant of the consequences of ditching capitalism for socialism and communism. So the biggest fear is that when the **** hits the fan, they will vote for socialism or communism and at that point, America never comes back. Hell, these fools are voting for Bernie/Biden/Obama now even with American being the richest people on planet Earth.

It's crystal clear to me that Congressional democrats would prefer to rule over the ashes of America than to share power in a prosperous America. And the BLM, Antifa, Democrat plantation voters and the other her riff raft democrats are bringing in here with the Visa Lottery and Chain Migration don't have 3 working brain cells between them.
Picadillo
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Dittos to Mr Turgidson. Gold standard coming. The Fed now reports to Dept of Treasury. What happens when you own your own bank? Forgive the debt and start over under gold standard. Until then, spend the fiat money on infrastructure and covid largess.
fullback44
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Picadillo said:

Dittos to Mr Turgidson. Gold standard coming. The Fed now reports to Dept of Treasury. What happens when you own your own bank? Forgive the debt and start over under gold standard. Until then, spend the fiat money on infrastructure and covid largess.


I have been reading articles for 2-3 years pointing towards this ... forgiveness of dept garnered around switching to the gold standard ...
FJB
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titan
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pfo said:

Titian, I understand what you are saying. But if the USA flees its debt obligation, it's US savers that would be hurt the most. The US debt is primarily owed to US citizens. This comes in the form of T-Bills, Treasury Bonds, cash accounts in brokerage houses are backed by short term gov debt and so on. Solvent foreign countries and individuals aren't stupid enough to own much US debt.

pfo,

Thanks for the laid out explanation. That explains it. I knew there had to be some kind of catch-22 to just blowing it off and saying, `what are you going to do, engage us?" Or even doing the USSR thing of becoming something else and just ducking it that way. That it is mostly owned by our own citizens makes perfect sense, but in the world of global finance I wasn't just going to assume that, as you never know. Thanks its all clear now.

On this:

Quote:

And this is a global problem. Japan is in worse shape than we are when it comes to debt. But at least Japan has a homogenous population of people who love their country. The USA is half full of ignorant, stupid, parasites that vote for "free stuff". Many of these fools hate a prosperous America because they are ignorant of the consequences of ditching capitalism for socialism and communism. So the biggest fear is that when the **** hits the fan, they will vote for socialism or communism and at that point, America never comes back. Hell, these fools are voting for Bernie/Biden/Obama now even with American being the richest people on planet Earth.

It's crystal clear to me that Congressional democrats would prefer to rule over the ashes of America than to share power in a prosperous America. And the BLM, Antifa, Democrat plantation voters and the other her riff raft democrats are bringing in here with the Visa Lottery and Chain Migration don't have 3 working brain cells between them.
I agree, and the italics is why frankly if all does start to crumble would just assume that option be pre-empted. No `vote' for communism allowed, it goes Heinlein meritocracy by imposition. But that is a a choice for the future generations it appears.
FrioAg 00:
Leftist Democrats "have completely overplayed the Racism accusation. Honestly my first reaction when I hear it today is to assume bad intentions by the accuser, not the accused."
chris1515
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I've been saying for years on here that the two biggest problems facing the US are the debt and the wealth gap between the haves and have nots. Both are coming home to roost.

Cassius
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Go back even further; W doubled the debt too.

Nobody gives a flying flip about it anymore. The moron libs are trying to crash the system - by locking down and printing money for people to sit on the couch - so they can implement their Marxist/Socialist agenda.

We are 135% of gdp, which means Japan territory, ie 0 growth.
tremble
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It's not just a US issue; the entire word is addicted to debt. The coming bubble in China is going to make our subprime mortgage crisis look like a firecracker.
Mostly Sunny Disposition
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Moving back to the Gold Standard would bury China for the next millennium....
mwp02ag
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Check out swap lines. The allies have been chosen. Buy gold, guns and ground.
MaxPower
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Champ Bailey said:

I've been buying a bunch of bit coin for this exact reason.
Wise investment the last 2 weeks.
AgFan2015
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Sadly many Americans have no clue what is happening to their savings, how the economy really works, and how perilous the immediate future is going to be.

This little cartoon clip teaches more about our currency than most people received in high school.

We are entering the end phase of this system. Physical assets in your own possession is the way to protect yourself from the **** storm.
Oak Tree
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Hyperinflation...here we come
aggie93
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pfo said:

Titian, I understand what you are saying. But if the USA flees its debt obligation, it's US savers that would be hurt the most. The US debt is primarily owed to US citizens. This comes in the form of T-Bills, Treasury Bonds, cash accounts in brokerage houses are backed by short term gov debt and so on. Solvent foreign countries and individuals aren't stupid enough to own much US debt.

And this is a global problem. Japan is in worse shape than we are when it comes to debt. But at least Japan has a homogenous population of people who love their country. The USA is half full of ignorant, stupid, parasites that vote for "free stuff". Many of these fools hate a prosperous America because they are ignorant of the consequences of ditching capitalism for socialism and communism. So the biggest fear is that when the **** hits the fan, they will vote for socialism or communism and at that point, America never comes back. Hell, these fools are voting for Bernie/Biden/Obama now even with American being the richest people on planet Earth.

It's crystal clear to me that Congressional democrats would prefer to rule over the ashes of America than to share power in a prosperous America. And the BLM, Antifa, Democrat plantation voters and the other her riff raft democrats are bringing in here with the Visa Lottery and Chain Migration don't have 3 working brain cells between them.
Japan has LOTS of problems too, especially with their younger generation that is small and filled with incels that live at home with their parents and haven't grown up.

I agree that we will be the last ones standing simply because as messed up as we are everyone else is worse to catastrophic. China is our only real threat but the problems China has dwarf our worst nightmares. China is way past the point of no return and I can't even see them existing as a country in 20 years. They are a ponzi scheme built on quicksand.

The US still has the reserve currency. It has the biggest and best market. It has the strongest military and especially navy. It has by far the best land both in terms of natural resources and farming as well as strategic placement.

In the end I think we should break apart into multiple allied countries and welch on the debt. That will suck hard for some states but Texas will end up on top. In the meantime be very smart about where you are putting your money and think about the worst case scenarios.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."

Ronald Reagan
titan
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Quote:

I agree that we will be the last ones standing simply because as messed up as we are everyone else is worse to catastrophic. China is our only real threat but the problems China has dwarf our worst nightmares. China is way past the point of no return and I can't even see them existing as a country in 20 years. They are a ponzi scheme built on quicksand.
What do you mean? If you mean their one child policy and lack of women, they are surrounded by land countries in most directions. If they want, they can just go take them, like the old fashioned days of earlier centuries. It was one of the big motives of conquest in fact. They have the power, and the numbers of men that would have little to lose. Wouldn't be so sure they are so "finished."




FrioAg 00:
Leftist Democrats "have completely overplayed the Racism accusation. Honestly my first reaction when I hear it today is to assume bad intentions by the accuser, not the accused."
titan
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Wanted to comment on those separately because this is so interesting:


Quote:

The US still has the reserve currency. It has the biggest and best market. It has the strongest military and especially navy. It has by far the best land both in terms of natural resources and farming as well as strategic placement.

In the end I think we should break apart into multiple allied countries and welch on the debt. That will suck hard for some states but Texas will end up on top. In the meantime be very smart about where you are putting your money and think about the worst case scenarios.
Breaking up into multiple countries I guess would nullify the debt in the same way the USSR did; however, what about pfo's point that our citizens own most of it, and that would backfire? For other reasons do agree that in the near future multiple sub-division seems the best bet to avoiding complete ideological and violent chaos.

FrioAg 00:
Leftist Democrats "have completely overplayed the Racism accusation. Honestly my first reaction when I hear it today is to assume bad intentions by the accuser, not the accused."
Dan Scott
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In 2010, government spent about $11,000/citizen. In 2018 it was close to around $20,000 per citizen. In 2020 it's going to be over 25,000/citizen.

That is disgusting. Absolutely nothing to show for it.
mazag08
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There are still smart people who think we've actually beaten inflation.

Gonna be a very hard crash. And it is coming.
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