Reinke Faces Life

https://www.dailymail.co.uk/news/article-9541387/Grocery-gas-electricity-prices-surge-inflation-warnings-grow.html

—30—

Costco paper towels: Now with 20 fewer sheets per roll
5/1/2021, 10:29:18 PM · by dynachrome · 30 repliesredflagdeals ^ | 4-26-21 | frozatio
Costco paper towels. Same price as the previous several times buying them. Now with 20 fewer sheets. 140/160= .875 Inflation rate: 8.75% Find the old rolls in store with 160 sheets and it’s effectively like buying the new sheets at 8.75% off!

# – # – # – # – #

Here’s an example of inflation being hidden!

—30—

https://www.newsmax.com/finance/drmichaelbuslerphd/modern-monetary-theory-inflation-federal-reserve-money-supply/2021/03/19/id/1014452/

Modern Monetary Theory Is Wrong: Inflation Is Coming
By Dr. Michael Busler, Ph.D.Friday, 19 March 2021 12:59 PMCurrent | Bio | Archive

*** begin quote ***
 
Many economists and much of the public are beginning to worry about the massive increase in the money supply and the massive increase in deficit spending. With a public debt approaching $30 trillion and a money supply that has increased by 25% in the last two years, the worry seems justified. However, Modern Monetary Theory (MMT) says we have nothing to worry about.

MMT says that since the US uses a currency that is not backed by anything other than faith in the government, more money can always be printed to pay off the debt. And the increase in the money supply will not necessarily lead to inflation.

*** end quote ***

I don’t understand how more “dollars” in circulation chasing a relatively fixed amount of goods and services can NOT Lead to higher consumer prices.

The only one who benefits from inflation is the Gooferment.

The poor, the retired, those on fixed income, bondholders, and the middle class are getting screwed.

—30—

https://www.zerohedge.com/geopolitical/china-killing-dollar

China Is Killing The Dollar
by Tyler Durden
Fri, 09/18/2020 – 23:40
Authored by Alasdair Macleod via GoldMoney.com

*** begin quote ***

In the wake of the Fed’s promise of 23 March to print money without limit in order to rescue the covid-stricken US economy, China changed its policy of importing industrial materials to a more aggressive stance. In examining the rationale behind this move, this article concludes that while there are sound geopolitical reasons behind it the monetary effect will be to drive down the dollar’s purchasing power, and that this is already happening.

More recently, a veiled threat has emerged that China could dump all her US Treasury and agency bonds if the relationship with America deteriorates further. This appears to be a cover for China to reduce her dollar exposure more aggressively. The consequences are a primal threat to the Fed’s policy of escalating monetary policy while maintaining the dollar’s status in the foreign exchanges.

*** end quote ***

It would seem that the USA politicians and bureaucrats are playing into the Chinese’s hands.  And, giving them the “club” to beat the USA to a pulp!

—30—

https://tomluongo.me/2020/08/14/market-friday-end-comex-paper-gold/

Market Friday: Is This the End of COMEX Paper Gold?
Date: August 14, 2020 — Author: Tom Luongo

*** begin quote ***

And now, the question on a lot of people’s minds is whether we’ll see the end of the fiction of the paper gold market as epitomized by the futures market on the COMEX.

*** and ***

The fiction of a gold-settled futures contract keeps the fiction that supply and demand for gold are in balance at these prices. But are they really? If so then gold wouldn’t be hoarded the way it is. Gresham’s Law would reverse and gold would move into the market at a much higher clearing price.

*** and ***

That, to me, is what is so very important about what is happening now. Because that begs the question, cui bono?

Who benefits from breaking the price control system of the fake, paper gold market?

Once you sort through the answer to that, China and Russia, then what’s been happening in gold and silver should make a whole lot more sense.

And why gold seems to have decoupled not only from the COMEX but gyrations in the U.S. dollar.

*** end quote ***

And, that girls and boys is the end of a lot of things — FED policy driving the Stock Market, the ability to have a debt laden society to support itself, and the USA’s empire.  How far “we” fall is yet to be seen.  Study the rise and fall of ALL empires and distill the common factors — debasement of its currency and fall in “civic morality”.

So sad.  Glad I’m not going to be here to see it happen, but I believe it will.

Save your nickels!

—30—

https://www.zerohedge.com/markets/mnuchin-begs-coins-amid-shortage-avoid-depositing-these-pennies

Mnuchin Begs For Coins Amid Shortage; Avoid Depositing These Pennies
by Tyler Durden — Thu, 08/13/2020 – 05:30

*** begin quote ***

According to Coinflation.com, pennies from 1909-1982 are approximately 95% copper and have a metal value of about $0.0185. In this instance, once could almost double their money if they took these pennies to a scrapper than the bank. Here’s the complete list of what coins are worth in terms of face value versus metal value.

*** end quote *** 

Pretty bad when the “valueless coins” take on more value for the underlying metal.

Argh!

—30—

The 1928 note bears this inscription:“Redeemable in gold on demand at the United States Treasury or in gold or lawful money at any Federal Reserve Bank.”But reads the 1950 version:“This note is legal tender for all debts, public and private, and is redeemable in lawful money at the United States Treasury, or at any Federal Reserve Bank.”The fine print disguises a vast swindle: The gold provision was stricken from the record.

Source: The Government’s Greatest Con Job – The Daily Reckoning

# – # – # – # – #

“We, The Sheeple” was robbed and they don’t even know it.  What’s worse is they probably don’t even care.

Argh!

— 30 —

2019-Jan-31

https://tomwoods.com/ep-1326-how-to-secede-from-our-monetary-regime/

Ep. 1326 How to Secede From Our Monetary Regime
22nd January 2019 — Tom Woods

*** begin quote *** 
 
Frequent guest Bob Murphy returns, this time talking about his new (co-authored) book, The Case for IBC. This is an acronym for “Infinite Banking Concept,” a strategy that uses properly designed whole life insurance policies as a way to “become your own banker.” The concept was developed by Nelson Nash, who besides working in insurance was personally tutored in Austrian theory by Leonard Read himself. Bob explains how the average person can benefit from IBC, and he answers common objections like “Isn’t it better to buy term and invest the difference?” and “Why would I put my money in life insurance when the dollar is going to crash?”

*** end quote ***

My initial thought:

I (humbly) suggest another reason for the IBC concept. One can only by insurance when reasonable healthy. I had a young 30 something coworker who became uninsurable after surviving a bout with cancer. In his case, buying a whole life policy, when he was younger and healthier, would have given his family the death benefit protection. He died in his 50’s. So I’d suggest the IBC concept would avoid the “insurability” problem should it arise. Buying any insurance may not be possible later in life. Am I missing something here?
 
To which Bob responded:

BobMurphy9  ferdinand reinke • 7 days ago
You’re right. That has to do with the “buy term and invest the difference” canard. I think on the episode I contrasted the jump in premiums if you wanted to renew your term policy, but yeah, if you develop a condition in the meantime, you might be uninsurable.

Now upon reflection on “buy term and invest the difference”:

Based on my own personality, and that of many other “spendthrifts” I see around me, I think there are two types of people — spenders and savers.  My now deceased wife grew up poor, was scared for life, and was a prodigious saver.  My maternal grandmother and my mother grew up in the Depression and also were prodigious savers.  I, OTOH, am a “spender”; maybe even a “spendthrift”, who never cared about delaying gratification.  I can identify others who fall into one of those two categories. 

Now with that in mind, considering the “buy term and invest the difference” canard, imho, “savers” can do that easily, but “spenders” can’t.  So for spenders, whole life insurance and the IBC concept makes a lot of sense.  All though, I’m not quite sure how one in their “earning days” could get on it or into it.  

Unlike savings in a CD ladder (https://reinkefaceslife.com/2007/08/17/money-creating-a-ladder/), which my wife loved, entry and exit was easy.  In today’s Fed-driven insane zero interest rate climate, the CD ladder makes no sense.

Hope this is of interest and helps someone further back on the road of life.  As I like to say, “if I knew then what I know now, my life would be completely different”.  Not sure it would be better or worse; just different. Unfortunately, in life, one can not just “rewind time” and choose differently.  It doesn’t work that way.  And one can’t even say a choice was “wrong”, since you made the choice at the time with feelings, imperfect information, and outlooks that structured your decision.  All you can say is that the results were what they are.  

Even “bad” results are how we are viewing the results in the eyes of the Monday Morning Quarterback. Shoulda, coulda, and woulda!  An alternative future history.  What might have been?  You can drive yourself crazy and make yourself sad about “missed opportunities”, “missed loves”, and “bad mistakes”.  

*** begin quote ***

And now, the end is near
And so I face the final curtain
My friend, I’ll say it clear
I’ll state my case, of which I’m certain
I’ve lived a life that’s full
I traveled each and every highway
And more, much more than this, I did it my way

Regrets, I’ve had a few
But then again, too few to mention
I did what I had to do and saw it through without exemption
I planned each charted course, each careful step along the byway
And more, much more than this, I did it my way

{Extraneous Deleted}

The record shows I took the blows and did it my way
Yes, it was my way

*** end quote ***

“You don’t have to pay tuition for every lesson. You can learn from other people’s mistakes!” — Unknown

# – # – # – # – # 2019-Jan-31 @ 06:59

2019-Jan-24

https://tomwoods.com/ep-1326-how-to-secede-from-our-monetary-regime/#disqus_thread

Ep. 1326 How to Secede From Our Monetary Regime
22nd January 2019 — Tom Woods 

*** begin quote ***

Frequent guest Bob Murphy returns, this time talking about his new (co-authored) book, The Case for IBC. This is an acronym for “Infinite Banking Concept,” a strategy that uses properly designed whole life insurance policies as a way to “become your own banker.” The concept was developed by Nelson Nash, who besides working in insurance was personally tutored in Austrian theory by Leonard Read himself. Bob explains how the average person can benefit from IBC, and he answers common objections like “Isn’t it better to buy term and invest the difference?” and “Why would I put my money in life insurance when the dollar is going to crash?”

*** end quote ***

I understand the IBC; not sure I “grok” it. By that, I mean get it and apply to my life or my memes.

I (humbly) suggest another positive reason for the IBC concept that was not mentioned in the podcast. One can only by insurance when reasonable healthy. I had a young 30 something coworker who became uninsurable after surviving a bout with cancer. In his case, buying a whole life policy, when he was younger and healthier, would have given his family the death benefit protection. He died in his 50’s. So I’d suggest the IBC concept would avoid the “insurability” problem should it arise. Buying any insurance may not be possible later in life.

Am I missing something here?

# – # – # – # – # 2019-Jan-24 @ 10:46