MONEY: Fractional Reserve Banking is troublesome at best; fraud at worst

Thursday, March 2, 2023

https://bullionmax.com/blog/news/gold-past-present-future?&utm_campaign=campaign%3A+2023-02-26-weeklybulletin+%2863f52e64bdd59f001de41acb%29&utm_medium=email&utm_source=omnisend&omnisendContactID=63557c12377bc800196f0944

 bullionmax.com
The Past, Present and Future of Gold
Posted on February 16, 2023

*** begin quote ***

Amsterdam had the first truly centralized monetary entity, as it opened shop in 1609, but the Bank of Amsterdam lasted longer without trouble, having “only” started collapsing in 1790. In essence, the BoA took our love of growth a little too seriously. It expanded from being mostly a storage intermediary for gold and silver to a lender. And, when it turned out it had nowhere near the gold and silver holdings it should to lend the amounts it has, a crisis hit… until banking was made very modern once again, with banks being able to lend far and away in excess of what they have.

*** end quote ***

It seems that a “bank” mixes up a “100% reserve custodian” and “fractional reserve lender”.

“We, The Sheeple” need to insist that the Gooferment differentiate between the two types of entities.

—30—

Leave a Comment » | MONEY | Tagged: | Permalink
Posted by reinkefj

MONEY: Gooferment Debt in a “death spiral”

Thursday, February 9, 2023

https://www.zerohedge.com/markets/welcome-death-spiral

Welcome To The Death Spiral
by Tyler Durden
Monday, Feb 06, 2023 – 09:00 AM
Authored by John Rubino via Substack,

*** begin quote ***

And there’s nothing that the monetary authorities can do to stop it, because either choice – keep interest rates high or push them back down – leads to the same place, which is a currency crisis. Meanwhile, each turn of the wheel makes the problem more intractable and the collapse more imminent. That’s what the term “death spiral” refers to: a process that feeds on itself until the system implodes.

*** end quote ***

Assuming that they, our wise and merciful Overlords, can see that they can no longer kick the debt can down the road, what can they do?

Easier said than done, cut spending.  The Military Industrial Complex is spending the USA into oblivion.  They have to face the largest share of the cuts.  It would seem that NATO has far outlived its usefulness and should be ended.  Our participation in the UN and all its corrupt activities should also go.

Then, we need to address welfare and entitlements.  Sorry but they have to get cut too.  As humanely as possible.

The cathedral of “education” needs to be starved too.

The entire class of Gooferment drones have to be freed to take on more productive roles.

Unpleasant times for everyone.

The alternative is the fall of Rome.

—30—

Leave a Comment » | MONEY | Tagged: , , | Permalink
Posted by reinkefj

MONEY: The coming default by the US FED / Treasury?

Saturday, November 12, 2022

https://www.zerohedge.com/markets/are-you-ready-coming-us-government-default

Are You Ready For The Coming US Government Default?
by Tyler Durden
Monday, Nov 07, 2022 – 07:20 AM

Authored by MN Gordon via EconomicPrism.com,

*** begin quote ***

The vast herd of investors are a deluded crowd. Following the Federal Reserve’s much anticipated 75 basis point rate hike on Wednesday the major stock market indexes jumped upward.

Optimistic investors keyed in on the Federal Open Market Committee (FOMC) statement and, in particular, the remark that the Fed, “will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation and economic and financial developments.”

*** and ***

In other words, this bear market may not bottom out until well into 2025. What’s more, the entire dollar based financial system will likely blow up sometime beforehand.

*** and ***

But many won’t recognize heavy handed monetary policy as reasons for their disappointment. The erosion of purchasing power can be subtle over long periods. Moreover, the effects of currency debasement policies extend to all corners of the economy.

*** end quote ***

Depends upon how you define default. What happens when no one wants to buy US Treasuries?

It’s going to be ugly. As the interest rate goes up, more of the Federal budget should go to interest on the debt. If they don’t cut, then more dollar printing.

A vicious cycle.

Sigh!

But what will be the form of it? Us tin foil hats are trying to guess will they just: “print”, “default on the bonds (i.e., tough <synonym for excrement> you suckers)”, or something involving a FED version of mandatory bitcoin (i.e., cash is recalled just like gold was)?

And, then what will the sheeple do?

—30—

Leave a Comment » | MONEY | Tagged: , , , , , , , , , | Permalink
Posted by reinkefj

MONEY: Does anyone look at their coins or paper money?

Saturday, November 5, 2022

https://nicenews.com/culture/rare-liberty-head-nickel-sells-for-millions/?utm_source=join1440&utm_medium=email&utm_placement=newsletter

“Ultra-Rare” 1913 Liberty Head Nickel Sells for Whopping $4.2M — One of Only Five in Existence
October 20, 2022

AUTHOR Rebekah Brandes

*** begin quote ***

Sometimes a nickel isn’t worth just 5 cents. Last week, one from 1913 sold for a whopping $4.2 million dollars.

The nickel in question, called the Walton 1913 Liberty Head Nickel, was acquired by GreatCollections auction house and boasts “one of the greatest stories to ever be told in U.S. numismatics,” per a press release.

*** end quote ***

While I doubt I’ll ever see one of these, I have found silver quarters in my change from time to time. A true pre-1965 quarter is reported to be worth about 4$.  And I have sold some one dollar bills with unique serial numbers.  

YMMV

—30—

Leave a Comment » | MONEY | Tagged: , | Permalink
Posted by reinkefj

MONEY: Trustless Money

Monday, October 17, 2022

PayPal, Bail-Ins, & The Necessity For Trustless Money
https://www.zerohedge.com/crypto/paypal-bail-ins-necessity-trustless-money
— via my feedly newsfeed

PayPal, Bail-Ins, & The Necessity For Trustless Money
by Tyler Durden
Wednesday, Oct 12, 2022 – 12:08 PM

*** begin quote ***

Sure enough, the URL to the updated AUP was under the paypalobjects.com domain, which anybody in our business knows is real.

The document appeared to have been a PDF version of the forthcoming new AUP which was due to roll out in early November. It has since been replaced by the blank page however the original is still available via Archive.org

*** and ***

“It’s a bell that can’t be un-rung”.

I’ll tell you a couple other bells that can’t be un-rung:

When the Canadian government unilaterally seized bank accounts of not only the truckers who protested vaccine mandates in Ottawa (most of which are now gone anyway), but also designated the accounts of citizens who legally donated via GoFundMe or GiveSendGo as targets (sourced from a spreadsheet that somebody hacked from a third-party website, btw), that was a bell that can’t be un-rung.

*** and ***

The bells have been ringing for awhile:

In 2013, during the banking crisis in Cyprus, the first “bail-in” was enacted, when depositors’ savings were confiscated from their bank accounts to recapitalize a banking system that had over-leveraged itself through excessive bad debts to zombie companies.

*** and ***

How much of your wealth is reliant on trusting external, opaque systems and complying with their increasingly one-sided, ephemeral and arbitrary policies, expectations or whims?

Versus, how much of your own money do you have outside of the fiat banking, Big Tech operated monetary system?

Because one morning you may wake up to find out that’s all you have left.

*** end quote ***

Certainly seems that one should have some “wealth” outside of the financial / banking system.  That could be “cash”; although inflation makes that an expensive depreciating asset.  Metals that could be used as barter.  And, bitcoin, assuming that you have power and the inet.  Interesting that in Germany, “firewood” is the new gold!  Imagine not having heat or food in a First World country like Germany due to the complete and utter stupidity of their Gooferment.  

—30—

Leave a Comment » | MONEY | Tagged: , , , | Permalink
Posted by reinkefj

MONEY: “Blue Light Special” announcement — fiat currencies like the U$D are being stolen by “inflation”

Wednesday, May 11, 2022

The 5 Stages Of Getting Orange-Pilled
https://www.zerohedge.com/crypto/5-stages-getting-orange-pilled

 — via my feedly newsfeed

# – # – # – # – #

​I’m at “acceptance and hope” stage​.  Back when the employment model switched from “lifetime employment” to “job hopping/consulting”, I told my turkeys that there was now “Blue Light Special” announcement like at the now defunct Kmart to tell them that “the game” had changed.  So to, now, imho, the “financial game” has changed and no announcement is being made.  Bitcoin, alternative forms of money, and other commodities are replacing fiat currencies like the U$D, Euro, and others.  Only the Russian Rouble has made the shift.  All other forms of fiat are subject to “inflation” aka Gooferment Theft. 

Unfortunately, not many have gotten the “non-announcement” and so will pay the tax and take the losses.  Heaven help the bond holders who will get triple screwed (i.e., inflation, loss of income, and loss of capital value) when the 1/7 seesaw rocks against them (i.e., 1% rise in interest rate yields a 7% decrease in the dollar value a bond).

FWIW YMMV and TANSTAAFL (“There Ain’t No Such Thing As A Free Lunch” From Robert Heinlein’s classic) 

—30—
 

Leave a Comment » | MONEY | Tagged: , , , , , , , | Permalink
Posted by reinkefj

MONEY: Can bitcoin stop the “bad guys”? Can anything?

Wednesday, March 23, 2022

https://bitcoinmagazine.com/culture/bitcoin-the-foundation-of-human-rights?utm_source=Bitcoin+Magazine&utm_campaign=f8fa15ec24-&utm_medium=email&utm_term=0_f7d45fbb67-f8fa15ec24-357073741&mc_cid=f8fa15ec24&mc_eid=386b7b0895

BITCOIN CAN BE THE FOUNDATION OF HUMAN RIGHTS
The bad guys can’t stop Bitcoin, but Bitcoin can stop the bad guys.
GREGOR HERBORT
MAR 18, 2022

*** begin quote ***

60 years ago, it was not Syrians, Afghans, Iranians and people from various African states who had to leave their homes and sought refuge.

It was Kazakhs, Ukrainians, Jews, Poles, Russians and Germans who needed a new home before, during and after World War II. Displaced by an occupying power, by the ruling government and by hunger and war.

Many had to leave their hometowns and were not able to take much with them, let alone transfer money across national borders. This is what happened to many Jews. Refugees were deprived of their remaining possessions in Germany. In a perfidious way, the war and the extermination of the Jews were thus co-financed.

Within experiences of these and other inhuman acts, the Universal Human Rights have been defined. A commission led by Eleanor Roosevelt worked out 30 articles under the auspices of the United Nations in 1948.

Reading these 30 articles, it becomes clear that the potential bad guy is often seen on the side of the state or government.

*** and ***

Everyone has the right to freely access a healthy international currency!

*** end quote ***

I certainly like that it’s inflation proof.  It may be a hopeless gesture to liberty, but what choice do we have?

—30—

Leave a Comment » | MONEY | Tagged: , , , | Permalink
Posted by reinkefj

MONEY: Has time finally run out?

Wednesday, March 16, 2022

https://www.zerohedge.com/personal-finance/peter-schiff-warns-tucker-carlson-inflation-only-has-one-way-go

Peter Schiff Warns Tucker Carlson: Inflation Only Has One Way To Go!
BY TYLER DURDEN
TUESDAY, MAR 15, 2022 – 08:11 AM
Via SchiffGold.com,

*** begin quote ***

Last week, we got another big jump in consumer prices with the February CPI data. Peter Schiff appeared on Fox News with Tucker Carlson to talk about the rampant inflation. He said it’s only going to get worse. Inflation only has one way to go.

*** end quote ***

I’ve blogged about this self-inflicted national disaster for decades.  Been aware of the problem since the late 60’s.

And, I hope that I don’t I’ve to see some very ugly chickens come home to roost.

The problem is the FED! The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.

When will “We, The Sheeple” wake up?

If, ever!

—30—

Leave a Comment » | MONEY | Tagged: , , , , | Permalink
Posted by reinkefj

MONEY: “Inside Money” standard and the “Outside Money” reality

Monday, March 14, 2022

https://tomluongo.me/2022/03/13/ins-outs-whose-money-is-it-anyway/

MONEY, POLITICS
The Ins and Outs of Whose Money is it Anyway?
Date: March 13, 2022Author: Tom Luongo

*** begin quote ***

Today’s “Inside Money” standard, known colloquially as the Dollar Reserve standard, is actually what I like to call “Milton Friedman’s Nightmare.” It is nothing more than a system of competitively devalued and inflated debt-based scrips running around drinking each other’s milkshakes until everyone’s glass is empty.

FYI, there are a lot of empty glasses around the world right now and more are being created everyday as the financial system turned predatory after the Lehman Bros. collapse in 2008.

It was then that the Central Banks and governments turned fully against the people sucking up more and more outside money by inflating inside money egregiously to control more and more of the real wealth of the world.

There is only one problem with that, however. Eventually, you run out of property to squeeze out of people’s hands. The more you take, the less people are restrained by little things like laws.

Eventually two things happen. The first is what we’ve been seeing from Russia and China for the past twelve years — steady accumulation of gold and other hard assets, outside money, including the building of real manufacturing infrastructure as well as the financial infrastructure to house it.

The second is just over the horizon — the moment where all the legal claims to controlling outside money mean nothing when enforcement of those legal claims gets exposed as a bluff because there aren’t enough enforcers capable of keeping the looters from taking it.

*** end quote ***

I’m am waiting for the “Great Reset” to drop on “We, The Sheeple” of which I am part of in someways.  I know this is going to hurt the poor, the seniors, those on fixed incomes, as well as the non-super rich.

Wonder what the price of gold will go to … … (the fellow’s guess)  about 45k$.  By other guesstimates, that’ll translate to 80$/gallon for gas.  Now I’m not predicting this but even if gas goes from 4 to 8$/gallon, the economy is totally screwed.

The U$D would be near worthless.

Argh!

The future is murky and there could be a cliff in the fog.

—30—

 

Leave a Comment » | MONEY | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , | Permalink
Posted by reinkefj

MONEY: Pyramids

Friday, December 31, 2021

201101111032.jpg

201101111034.jpg

201101111035.jpg

# # # # #

Leave a Comment » | MONEY | Permalink
Posted by reinkefj

« Previous Entries
Next Entries »