War and Covid - The excuse for the coming financial collapse

[RVonse]

Bitcoin is a failure for a currency. Can you imagine waking up and finding out your money is worth 40% less than what it was the day before? And would you spend it today if it could be worth 25% more tomorrow? That isn't how currencies function in a proper fashion.

And yes, gold and silver, open to manipulation just the same, and suffer from the ills of being a commodity.

So these are solutions that either could never work or didn't work well when they were used originally.

Bitcoin was never meant to be a currency it was meant to be a store of wealth that could not be stolen by any government. As such I would say it does appears to be failing although it is probably too early to know for sure. It is still in its infancy.

 

[RVonse]

The banking debt system is a complete scam.

They just push a button and for some reason you owe them the loan + interest.

Huh? I've never owed them anything other than when I borrowed money. Never because they pushed a button.

If you live in the US and own any kind of property you owe the government money. Even if you are debt free you still have to pay taxes. It used to be the excuse that you had to pay taxes to provide infrastructure and safety. But after all the banking bailouts and stimulous payouts, it is very credible to claim tax receipts are being sent for the benefit other private institutions and individuals whom you did not elect.

You are also paying involuntary taxes through inflation also cause by the fed. You can call the money taxes or interest but the end result is that you are involuntarily giving your labor to others through their financial manipulations, without ever having to take out a loan.

 

[RVonse]

The money masters

Not a credible source.

How do you know Loren? None of us really knows what is fake media or not, the best that can be done is not to censor and then to discuss in public what is most probable factual. Elon Musk is right.

 

[Don2 (Don1 Revised)]

The banking debt system is a complete scam.

They just push a button and for some reason you owe them the loan + interest.

If you don't like it, then create your own banking corporation where people can borrow money from you without paying back interest.

 

[RVonse]

Man the barricades!! Where is my Fidel Castro beret and cigar!! Down with up!!!

"The revolution will not be televised".

The 'evil bankers' You must be kidding. As we all now know Bill Gates is taking over the world.

Your OP is patently false.

Besides billionaire Burry, another billionaire Dalio is now saying that "cash is trash". Unless you really know you are smarter then them, I suggest picking up a history book and find for us the example of the successful government that survived longer than Rome did. They all start out growing, then declined, while another government became the unipolar world power. The US (which happens to be the reserve currency today) is obviously in a declining state at this point. Unless the US seriously reverses its present trend (more manufacturing exports and less debt) it appears very probable some kind of monetary reset will be in the near future. What will take place no one knows but it is fair to say it will NOT be the US dollar. Bill Gates will have nothing to do with this.

 

[Harry Bosch]

Bitcoin is a failure for a currency. Can you imagine waking up and finding out your money is worth 40% less than what it was the day before? And would you spend it today if it could be worth 25% more tomorrow? That isn't how currencies function in a proper fashion.

And yes, gold and silver, open to manipulation just the same, and suffer from the ills of being a commodity.

So these are solutions that either could never work or didn't work well when they were used originally.

Bitcoin was never meant to be a currency it was meant to be a store of wealth that could not be stolen by any government. As such I would say it does appears to be failing although it is probably too early to know for sure. It is still in its infancy.

Yikes, have you seen the recent Bitcoin losses? I'd prefer a tax that I can predict that the volatility that surrounds bitcoins!

 

[RVonse]

Bitcoin is a failure for a currency. Can you imagine waking up and finding out your money is worth 40% less than what it was the day before? And would you spend it today if it could be worth 25% more tomorrow? That isn't how currencies function in a proper fashion.

And yes, gold and silver, open to manipulation just the same, and suffer from the ills of being a commodity.

So these are solutions that either could never work or didn't work well when they were used originally.

Bitcoin was never meant to be a currency it was meant to be a store of wealth that could not be stolen by any government. As such I would say it does appears to be failing although it is probably too early to know for sure. It is still in its infancy.

Yikes, have you seen the recent Bitcoin losses? I'd prefer a tax that I can predict that the volatility that surrounds bitcoins!

That is why I haven't bought any yet. That still does not mean it could not one day become stable.

 

[steve_bank]

The banking debt system is a complete scam.

They just push a button and for some reason you owe them the loan + interest.

Huh? I've never owed them anything other than when I borrowed money. Never because they pushed a button.

If you live in the US and own any kind of property you owe the government money. Even if you are debt free you still have to pay taxes. It used to be the excuse that you had to pay taxes to provide infrastructure and safety. But after all the banking bailouts and stimulous payouts, it is very credible to claim tax receipts are being sent for the benefit other private institutions and individuals whom you did not elect.

You are also paying involuntary taxes through inflation also cause by the fed. You can call the money taxes or interest but the end result is that you are involuntarily giving your labor to others through their financial manipulations, without ever having to take out a loan.

The libertarian narrative?

If you want the befits of large scale civilzation then you have to pay for it. If not find a widerness and live on bugs.

 

[steve_bank]

Michael Burry who predicted the 2008 financial crisis is warning.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

There are Christians who are always predicting the end of world is about to come. Sooner or later somebody will be right.

But those doom gloom Christians did not make themselves billionaires by following their predictions. Usually you do not become a billionaire by being stupid and superstitious. Most billionaires become billionaires by providing real value to others and having knowledge when others are ignorant.

Maybe not billionaires, but cetainly wealthy. Christian mythology is a high profit business which includes domm and gloom end times are just aroud the corner. It become a farce. The end of the wosrl is coming, learn how to protect yourr money just buy my book on biblcal prophesy and so on.

 

[bilby]

The money masters

Not a credible source.

How do you know Loren? None of us really knows what is fake media or not, the best that can be done is not to censor and then to discuss in public what is most probable factual. Elon Musk is right.

That’s utter bollocks.

It’s fairly easy to spot fake media. Not only does it make claims that you know to be false when discussing things you are familiar with, but it also almost always follows a predictable and recognisable pattern, that seeks not only to promote whatever nonsense is being peddled, but also to denigrate the very idea that you might be able to check their ‘facts’.

Without even looking at the video, the title and title image scream “We are trying to fool idiots into believing nonsense!!”. It’s far from proof, but more than enough to persuade experienced and cynical people not to waste their time.

The very high prior that it will be stupid conspiracist crap massively outweighs the tiny chance that it will be a true and accurate description of some element of reality - and if it is, it’s vanishingly unlikely to contain enough new information to make watching it worth the time.

The fact is that just being on YouTube, and being promoted here by someone with a track record of conspiracist claptrap, is enough to eliminate any chance that I would ever bother to watch it.

In the real world, nothing important can be effectively hidden for long. If it’s not being widely discussed, that’s probably because it’s horseshit.

There’s far too much bullshit for any real information to be exchanged at all, unless most of the bullshit is filtered out. That’s not censorship, it’s survival.

 

[Loren Pechtel]

The money masters

Not a credible source.

How do you know Loren? None of us really knows what is fake media or not, the best that can be done is not to censor and then to discuss in public what is most probable factual. Elon Musk is right.

And note he's having second thoughts about Twitter as he sees the size of the problem.

 

[jdf5]

The money masters

Not a credible source.

How do you know Loren? None of us really knows what is fake media or not, the best that can be done is not to censor and then to discuss in public what is most probable factual. Elon Musk is right.

That’s utter bollocks.

It’s fairly easy to spot fake media. Not only does it make claims that you know to be false when discussing things you are familiar with, but it also almost always follows a predictable and recognisable pattern, that seeks not only to promote whatever nonsense is being peddled, but also to denigrate the very idea that you might be able to check their ‘facts’.

Without even looking at the video, the title and title image scream “We are trying to fool idiots into believing nonsense!!”. It’s far from proof, but more than enough to persuade experienced and cynical people not to waste their time.

The very high prior that it will be stupid conspiracist crap massively outweighs the tiny chance that it will be a true and accurate description of some element of reality - and if it is, it’s vanishingly unlikely to contain enough new information to make watching it worth the time.

The fact is that just being on YouTube, and being promoted here by someone with a track record of conspiracist claptrap, is enough to eliminate any chance that I would ever bother to watch it.

In the real world, nothing important can be effectively hidden for long. If it’s not being widely discussed, that’s probably because it’s horseshit.

There’s far too much bullshit for any real information to be exchanged at all, unless most of the bullshit is filtered out. That’s not censorship, it’s survival.

Money comes to existance through loans. Only a new loan can pay for an old loan with interest. On the global level. No?

So how is that system not doomed to die from the start?

 

[bilby]

The money masters

Not a credible source.

How do you know Loren? None of us really knows what is fake media or not, the best that can be done is not to censor and then to discuss in public what is most probable factual. Elon Musk is right.

That’s utter bollocks.

It’s fairly easy to spot fake media. Not only does it make claims that you know to be false when discussing things you are familiar with, but it also almost always follows a predictable and recognisable pattern, that seeks not only to promote whatever nonsense is being peddled, but also to denigrate the very idea that you might be able to check their ‘facts’.

Without even looking at the video, the title and title image scream “We are trying to fool idiots into believing nonsense!!”. It’s far from proof, but more than enough to persuade experienced and cynical people not to waste their time.

The very high prior that it will be stupid conspiracist crap massively outweighs the tiny chance that it will be a true and accurate description of some element of reality - and if it is, it’s vanishingly unlikely to contain enough new information to make watching it worth the time.

The fact is that just being on YouTube, and being promoted here by someone with a track record of conspiracist claptrap, is enough to eliminate any chance that I would ever bother to watch it.

In the real world, nothing important can be effectively hidden for long. If it’s not being widely discussed, that’s probably because it’s horseshit.

There’s far too much bullshit for any real information to be exchanged at all, unless most of the bullshit is filtered out. That’s not censorship, it’s survival.

Money comes to existance through loans. Only a new loan can pay for an old loan with interest. On the global level. No?

So how is that system not doomed to die from the start?

Money IS debt. That’s all it is. If you have a dollar bill, it is a certificate that says “the world owes this guy $1 worth of stuff”. If someone owes you for work you did, or goods you gave them, they can simply convert that debt into a portable format by giving you dollars instead of stuff.

That money is debt isn’t a bug.

it’s not even a feature; It’s the entire fucking system, working exactly as designed.

If you don’t grasp this basic fact, then I don’t know how to even begin to explain your errors. WTF do you imagine that money is, if not debt? Why do you think people use it? What do you think they use it for?

Why would such a useful and successful system, that has existed for longer than the YECs think the universe has even existed, be ‘doomed to die from the start’, and if it is, how come it’s taken so damn long to do so?

 

[Swammerdami]

Yes, there's a lot of jabbering gibberish on YouTube and Facebook. At least some of the jabberers have greed as their excuse: they want you to buy over-priced gold, or invest in their Crypto scam. When a YouTube tells you the price of butter a century ago, that's the signal to click the 'Close Tab' icon.

But it is true that the global economy is very dependent on the modern financial system; and that the financial system has recently been creating money at an unprecedented rate. Whether this is good or bad is less clear.

Second, banks do not print money.

They certainly DO create money. And, if checkbooks and traveler's checks are "money" they actually print it as well. The financial system helped inflate real estate prices under Bush-43, and mortgages could be used as collateral for further lending and new "money."

But banks operate in concert with actions and regulations of government and central banks. Since the housing bubble burst in 2008, the FRB has been buying banks' assets; this allowed the banks to make new loans and create new "money." It's irrelevant whether you deem that money to be created by the central bank or private banks. We should be grateful (or hopeful) that the central bank acts in the public interest.

Many trillions of dollars of new money have been created this way by the world's central banks during the 21st century, and this has been responsible for ongoing prosperity. If it seems wrong or corrupt, know that you might not have a job right now were it not for this money creation.

But this debt bubble is not an unmixed blessing. The Fed has announced that to fight inflation it will begin selling some of the trillions of dollars in assets on its books. This will be fun to watch!

The system has to collapse! It has, it will again. What is the solution again? Or is this CT-Boner stuff?

Not sure what the solution is.

So you just like complaining then?

I do not think it wrong to point out a problem even if no obvious solution presents. Experts are certainly aware that the financial system is in uncharted waters with no clear path forward. I think my own metaphor is apt: The FRB is now trying to navigate its vessel (the economy) between the hazards of Scylla and Charybdis. Let's wish them luck!
. . .

Yes, we've seen how well gold and silver have worked. Like for real. Check up on 19th Century economy, bank panics, the attempt to corner the gold market 1869.

Using precious metal as money worked reasonably well for millennia, at least while governments were too weak and disorganized to institute successful fiat currencies like we have today.

The Panic of 1869 was interesting. Jay Gould — sometimes considered the 23rd most wealthy person in all of history — was counting on the connivance of President Grant's unscrupulous brother-in-law, Abel Corbin. (The U.S. Treasury had far more gold than Mr. Gould.) Fortunately Corbin's brother-in-law awoke from his stupor long enough to order Treasury to buy greenbacks in New York City, thereby putting a stop to Gould's adventure.

We should thank our lucky stars that the Kushner brothers simply lacked the intelligence or imagination of Jay Gould during the recent Reign of Corruption and Stupidity.

I think economic predictions are about 50/50.

Occasionally somebody gets it right, but there is no way to accurately predict the economy in nay detail.

Most prognosticators agree that bubbles WILL burst. The uncertainty is about WHEN.

 

[jdf5]

The money masters

Not a credible source.

How do you know Loren? None of us really knows what is fake media or not, the best that can be done is not to censor and then to discuss in public what is most probable factual. Elon Musk is right.

That’s utter bollocks.

It’s fairly easy to spot fake media. Not only does it make claims that you know to be false when discussing things you are familiar with, but it also almost always follows a predictable and recognisable pattern, that seeks not only to promote whatever nonsense is being peddled, but also to denigrate the very idea that you might be able to check their ‘facts’.

Without even looking at the video, the title and title image scream “We are trying to fool idiots into believing nonsense!!”. It’s far from proof, but more than enough to persuade experienced and cynical people not to waste their time.

The very high prior that it will be stupid conspiracist crap massively outweighs the tiny chance that it will be a true and accurate description of some element of reality - and if it is, it’s vanishingly unlikely to contain enough new information to make watching it worth the time.

The fact is that just being on YouTube, and being promoted here by someone with a track record of conspiracist claptrap, is enough to eliminate any chance that I would ever bother to watch it.

In the real world, nothing important can be effectively hidden for long. If it’s not being widely discussed, that’s probably because it’s horseshit.

There’s far too much bullshit for any real information to be exchanged at all, unless most of the bullshit is filtered out. That’s not censorship, it’s survival.

Money comes to existance through loans. Only a new loan can pay for an old loan with interest. On the global level. No?

So how is that system not doomed to die from the start?

Money IS debt. That’s all it is. If you have a dollar bill, it is a certificate that says “the world owes this guy $1 worth of stuff”. If someone owes you for work you did, or goods you gave them, they can simply convert that debt into a portable format by giving you dollars instead of stuff.

That money is debt isn’t a bug.

it’s not even a feature; It’s the entire fucking system, working exactly as designed.

If you don’t grasp this basic fact, then I don’t know how to even begin to explain your errors. WTF do you imagine that money is, if not debt? Why do you think people use it? What do you think they use it for?

Why would such a useful and successful system, that has existed for longer than the YECs think the universe has even existed, be ‘doomed to die from the start’, and if it is, how come it’s taken so damn long to do so?

Because only new debt can pay for old debt + interest. Eventually old debt + interest is to big to be paid with new debt.

When markets realize this credit markets collapse within minutes. Meaning global economic depression, chaos and starvation. Of course now central banks print but for how long can that continue?

Guess debt must be cancelled in some way.

 

[jdf5]

 

[Patooka]

For me, I absolutely know someone is making sensible and rational arguments when they just post youtube clips with absolutely zero context provided. I am now certainly convinced.

 

[Harry Bosch]

The money masters

Not a credible source.

How do you know Loren? None of us really knows what is fake media or not, the best that can be done is not to censor and then to discuss in public what is most probable factual. Elon Musk is right.

That’s utter bollocks.

It’s fairly easy to spot fake media. Not only does it make claims that you know to be false when discussing things you are familiar with, but it also almost always follows a predictable and recognisable pattern, that seeks not only to promote whatever nonsense is being peddled, but also to denigrate the very idea that you might be able to check their ‘facts’.

Without even looking at the video, the title and title image scream “We are trying to fool idiots into believing nonsense!!”. It’s far from proof, but more than enough to persuade experienced and cynical people not to waste their time.

The very high prior that it will be stupid conspiracist crap massively outweighs the tiny chance that it will be a true and accurate description of some element of reality - and if it is, it’s vanishingly unlikely to contain enough new information to make watching it worth the time.

The fact is that just being on YouTube, and being promoted here by someone with a track record of conspiracist claptrap, is enough to eliminate any chance that I would ever bother to watch it.

In the real world, nothing important can be effectively hidden for long. If it’s not being widely discussed, that’s probably because it’s horseshit.

There’s far too much bullshit for any real information to be exchanged at all, unless most of the bullshit is filtered out. That’s not censorship, it’s survival.

Money comes to existance through loans. Only a new loan can pay for an old loan with interest. On the global level. No?

So how is that system not doomed to die from the start?

Money IS debt. That’s all it is. If you have a dollar bill, it is a certificate that says “the world owes this guy $1 worth of stuff”. If someone owes you for work you did, or goods you gave them, they can simply convert that debt into a portable format by giving you dollars instead of stuff.

That money is debt isn’t a bug.

it’s not even a feature; It’s the entire fucking system, working exactly as designed.

If you don’t grasp this basic fact, then I don’t know how to even begin to explain your errors. WTF do you imagine that money is, if not debt? Why do you think people use it? What do you think they use it for?

Why would such a useful and successful system, that has existed for longer than the YECs think the universe has even existed, be ‘doomed to die from the start’, and if it is, how come it’s taken so damn long to do so?

Because only new debt can pay for old debt + interest. Eventually old debt + interest is to big to be paid with new debt.

When markets realize this credit markets collapse within minutes. Meaning global economic depression, chaos and starvation. Of course now central banks print but for how long can that continue?

Guess debt must be cancelled in some way.

I'm curious. But what if we just paid our debts from our monthly cash flow from our jobs?

 

[steve_bank]

Yes, there's a lot of jabbering gibberish on YouTube and Facebook. At least some of the jabberers have greed as their excuse: they want you to buy over-priced gold, or invest in their Crypto scam. When a YouTube tells you the price of butter a century ago, that's the signal to click the 'Close Tab' icon.

But it is true that the global economy is very dependent on the modern financial system; and that the financial system has recently been creating money at an unprecedented rate. Whether this is good or bad is less clear.

Second, banks do not print money.

They certainly DO create money. And, if checkbooks and traveler's checks are "money" they actually print it as well. The financial system helped inflate real estate prices under Bush-43, and mortgages could be used as collateral for further lending and new "money."

But banks operate in concert with actions and regulations of government and central banks. Since the housing bubble burst in 2008, the FRB has been buying banks' assets; this allowed the banks to make new loans and create new "money." It's irrelevant whether you deem that money to be created by the central bank or private banks. We should be grateful (or hopeful) that the central bank acts in the public interest.

Many trillions of dollars of new money have been created this way by the world's central banks during the 21st century, and this has been responsible for ongoing prosperity. If it seems wrong or corrupt, know that you might not have a job right now were it not for this money creation.

But this debt bubble is not an unmixed blessing. The Fed has announced that to fight inflation it will begin selling some of the trillions of dollars in assets on its books. This will be fun to watch!

The system has to collapse! It has, it will again. What is the solution again? Or is this CT-Boner stuff?

Not sure what the solution is.

So you just like complaining then?

I do not think it wrong to point out a problem even if no obvious solution presents. Experts are certainly aware that the financial system is in uncharted waters with no clear path forward. I think my own metaphor is apt: The FRB is now trying to navigate its vessel (the economy) between the hazards of Scylla and Charybdis. Let's wish them luck!
. . .

Yes, we've seen how well gold and silver have worked. Like for real. Check up on 19th Century economy, bank panics, the attempt to corner the gold market 1869.

Using precious metal as money worked reasonably well for millennia, at least while governments were too weak and disorganized to institute successful fiat currencies like we have today.

The Panic of 1869 was interesting. Jay Gould — sometimes considered the 23rd most wealthy person in all of history — was counting on the connivance of President Grant's unscrupulous brother-in-law, Abel Corbin. (The U.S. Treasury had far more gold than Mr. Gould.) Fortunately Corbin's brother-in-law awoke from his stupor long enough to order Treasury to buy greenbacks in New York City, thereby putting a stop to Gould's adventure.

We should thank our lucky stars that the Kushner brothers simply lacked the intelligence or imagination of Jay Gould during the recent Reign of Corruption and Stupidity.

I think economic predictions are about 50/50.

Occasionally somebody gets it right, but there is no way to accurately predict the economy in nay detail.

Most prognosticators agree that bubbles WILL burst. The uncertainty is about WHEN.

Humans are corrupt, I should have known.

Boom and bust are part of it going far back in human civilization. The goal of modern government is to try and smooth out the peaks and valleys.

Biden and the left may have made a serious blunder in putting a lot of cash into the system.

 

[Harry Bosch]

Yes, there's a lot of jabbering gibberish on YouTube and Facebook. At least some of the jabberers have greed as their excuse: they want you to buy over-priced gold, or invest in their Crypto scam. When a YouTube tells you the price of butter a century ago, that's the signal to click the 'Close Tab' icon.

But it is true that the global economy is very dependent on the modern financial system; and that the financial system has recently been creating money at an unprecedented rate. Whether this is good or bad is less clear.

Second, banks do not print money.

They certainly DO create money. And, if checkbooks and traveler's checks are "money" they actually print it as well. The financial system helped inflate real estate prices under Bush-43, and mortgages could be used as collateral for further lending and new "money."

But banks operate in concert with actions and regulations of government and central banks. Since the housing bubble burst in 2008, the FRB has been buying banks' assets; this allowed the banks to make new loans and create new "money." It's irrelevant whether you deem that money to be created by the central bank or private banks. We should be grateful (or hopeful) that the central bank acts in the public interest.

Many trillions of dollars of new money have been created this way by the world's central banks during the 21st century, and this has been responsible for ongoing prosperity. If it seems wrong or corrupt, know that you might not have a job right now were it not for this money creation.

But this debt bubble is not an unmixed blessing. The Fed has announced that to fight inflation it will begin selling some of the trillions of dollars in assets on its books. This will be fun to watch!

The system has to collapse! It has, it will again. What is the solution again? Or is this CT-Boner stuff?

Not sure what the solution is.

So you just like complaining then?

I do not think it wrong to point out a problem even if no obvious solution presents. Experts are certainly aware that the financial system is in uncharted waters with no clear path forward. I think my own metaphor is apt: The FRB is now trying to navigate its vessel (the economy) between the hazards of Scylla and Charybdis. Let's wish them luck!
. . .

Yes, we've seen how well gold and silver have worked. Like for real. Check up on 19th Century economy, bank panics, the attempt to corner the gold market 1869.

Using precious metal as money worked reasonably well for millennia, at least while governments were too weak and disorganized to institute successful fiat currencies like we have today.

The Panic of 1869 was interesting. Jay Gould — sometimes considered the 23rd most wealthy person in all of history — was counting on the connivance of President Grant's unscrupulous brother-in-law, Abel Corbin. (The U.S. Treasury had far more gold than Mr. Gould.) Fortunately Corbin's brother-in-law awoke from his stupor long enough to order Treasury to buy greenbacks in New York City, thereby putting a stop to Gould's adventure.

We should thank our lucky stars that the Kushner brothers simply lacked the intelligence or imagination of Jay Gould during the recent Reign of Corruption and Stupidity.

I think economic predictions are about 50/50.

Occasionally somebody gets it right, but there is no way to accurately predict the economy in nay detail.

Most prognosticators agree that bubbles WILL burst. The uncertainty is about WHEN.

Humans are corrupt, I should have known.

Boom and bust are part of it going far back in human civilization. The goal of modern government is to try and smooth out the peaks and valleys.

Biden and the left may have made a serious blunder in putting a lot of cash into the system.

Yes, I agree that there is too much cash in the system. Yes, the left can be blamed a little for overshooting. However, PPP and other such programs was started by the republicans.