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Very Hot Topic (More than 25 Replies) Deficit Spending, Debt & Printing (Read 2180 times)
kaz
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #110 - Jan 14th, 2020 at 8:15am
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SkyChief wrote on Jan 13th, 2020 at 9:15pm:
There is simply not enough gold to do that


Bull.  This makes no sense and I explained it to you before.  You could at any time fix the value of your currency at:

The currency in circulation / the number of ounces of gold you have.

To say they can't is nonsense.  That would stop them from stealing from the people by printing money going forward.

What isn't going to happen is you aren't getting the money back from them they already stole from you.  Sorry, that's already spent.  Do you really not see the difference?

SkyChief wrote on Jan 13th, 2020 at 9:15pm:
But the fact they are repatriating gold is writing on the wall.

Can you see the message?


No, but I'm not a conspiracy theorist.   Can you make the message clearer?  It would help if you didn't just jump to the end and bypass the steps that make you arrive at that we're doomed.

You also haven't shown any evidence that countries are taking back significant amounts of gold.

What I am particularly missing in your conspiracy theory is why you think they want to hoard gold when they aren't backing their currency with gold or why you think that would make people want their currencies when they still aren't backed with gold.

If you want a currency from a government that has lots of gold, but doesn't back their currency with it, that would be ... drum roll ... The United States ...

Here's an article along the lines of what you've read.  It says what you do, but doesn't back it up with any real data, just unsubstantiated theory.

http://www.goldtelegraph.com/countries-around-the-world-have-begun-pulling-their...

There's no way China or Russia are going to back their currency with gold.   And that there's going to be broad payments in gold is laughable
  

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kaz
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #111 - Jan 14th, 2020 at 8:43am
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SkyChief wrote on Jan 13th, 2020 at 9:51pm:
Right.

the writing is on the wall.

When SHTF, these countries want their gold in THEIR vaults - NOT in US vaults.


The thing you constantly do is obsess on transactional things that happen and ignore perspective.   Some gold has been taken back, but even the article I googled gave no perspective or big numbers.  But you turn those transactional moves to a tidal wave.

Ironically you get that with your own portfolio. If your trained monkey is taking a big chunk of your earnings, you're OK with that.  You don't see it and you don't want to look.

But the Fed does the exact same thing, and you have no perspective, you melt down.  The Fed like your trained monkey isn't taking the balance of the economy, they are taking a big slice of its growth.

You look at your trained monkey and the Fed talking very similar proportions and your trained monkey is fine but the Fed is cataclysmic.  No perspective.  If you can blow off your trained monkey taking so much of your earnings to manage your money, it should be easy for you to allow the Fed to do the same for the same reason.

Note I am in the middle on both.   I think both the trained monkey and Fed are stealing from us and taking way too much to do it.  I want better options.  But I'm not melting down about either one and predicting the Apocalypse like you are either.

I guess that's the nature of a conspiracy theorist.  Ignore perspective
  

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SkyChief
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #112 - Jan 14th, 2020 at 11:32am
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kaz wrote on Jan 14th, 2020 at 8:15am:
Bull.  This makes no sense and I explained it to you before.  You could at any time fix the value of your currency at:

The currency in circulation / the number of ounces of gold you have.
Oh - you mean a reset.

I said it will be a collapse or a reset. 

SkyChief wrote on Jan 12th, 2020 at 12:02pm:
The indicators I'm looking at all point to a collapse.  OR a reset

Fortunes will be made and lost, depending on the nature of one's assets. 

kaz wrote on Jan 14th, 2020 at 8:15am:
You also haven't shown any evidence that countries are taking back significant amounts of gold.
I don't need to do that.  I put the info out there.  You can either accept it or reject it.  But If you reject it, it doesn't make it not true.

kaz wrote on Jan 14th, 2020 at 8:15am:
What I am particularly missing in your conspiracy theory is why you think they want to hoard gold when they aren't backing their currency with gold or why you think that would make people want their currencies when they still aren't backed with gold....

US national debt exceeds our GDP.  That's not a conspiracy theory - its a fact.  Our country is INSOLVENT.

How long can that be sustained?  Who knows?  Can that be sustained forever?  Of course not.
« Last Edit: Jan 14th, 2020 at 3:11pm by SkyChief »  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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kaz
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #113 - Jan 14th, 2020 at 3:43pm
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SkyChief wrote on Jan 14th, 2020 at 11:32am:
Oh - you mean a reset.

I said it will be a collapse or a reset. 


OK, I didn't notice the reset part in your post, but yes, that's what would have to happen.  There is no way to get back the money they already stole

SkyChief wrote on Jan 14th, 2020 at 11:32am:
Fortunes will be made and lost, depending on the nature of one's assets. 


For a collapse, of course.  Not for a reset.  For a reset, they would have to stop stealing going forward.  It wouldn't change anything today

SkyChief wrote on Jan 14th, 2020 at 11:32am:
I don't need to do that.  I put the info out there.  You can either accept it or reject it.  But If you reject it, it doesn't make it not true


Right, but that wasn't what I said.  I said it's a matter of perspective.  They keep talking about what are monitarily trivial amounts of money.  $35 billion is nothing in currency

SkyChief wrote on Jan 14th, 2020 at 11:32am:
US national debt exceeds our GDP.  That's not a conspiracy theory - its a fact.  Our country is INSOLVENT.


That's an alternative definition of insolvent.  A made up one ...

SkyChief wrote on Jan 14th, 2020 at 11:32am:
How long can that be sustained?  Who knows?  Can that be sustained forever?  Of course not.


OK, but that's the same as saying you can't sustain paying your financial sales guy what you're paying him.  Of course you can.  He's siphoning off money coming in, he's not taking your stash.  The Fed is doing the same.  This is where I say you have no sense of perspective.  Everything is a blowoff or a meltdown for you
  

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SkyChief
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #114 - Jan 14th, 2020 at 5:02pm
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kaz wrote on Jan 14th, 2020 at 3:43pm:
SkyChief wrote on Jan 14th, 2020 at 11:32am:
US national debt exceeds our GDP. 

How long can that be sustained?  Who knows?  Can that be sustained forever?  Of course not.


OK, but that's the same as saying you can't sustain paying your financial sales guy what you're paying him.  Of course you can.  He's siphoning off money coming in, he's not taking your stash.  The Fed is doing the same.  This is where I say you have no sense of perspective.  Everything is a blowoff or a meltdown for you

When something is unsustainable, it must end at some point.   I'm not predicting when it will end - only that it will.   Someday.

Up until that point, we can go along with the charade.  We agree that at some point, either collapse or reset must occur. 

You imagine a reset as revaluation of the dollar.  I imagine the reset will be a DEvaluation of the dollar.

We won't know who's right until it happens.  It may not happen in our lifetime, so we may not ever know.  Undecided
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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Jeff
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #115 - Jan 14th, 2020 at 5:14pm
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SkyChief wrote on Jan 14th, 2020 at 5:02pm:
When something is unsustainable, it must end at some point.   I'm not predicting when it will end - only that it will.   Someday.

kaz said "not in his lifetime"...
  

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Jeff
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #116 - Jan 14th, 2020 at 5:16pm
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SkyChief wrote on Jan 14th, 2020 at 5:02pm:
You imagine a reset as revaluation of the dollar.  I imagine the reset will be a DEvaluation of the dollar.

Devaluation is one way it could go, for sure, but inflation is also a revaluation of the dollar, just not an official one.

Edit: Is there another option, other than FRNS becoming worth more, or becoming worth less?

That seems to cover the options that I can see...

That the value of money would be kept regular by Congress is a fool's dream, I suppose... Even though that's a duty assigned to them by the Constitution.

Perhaps Indy's right, and Congress has already betrayed America. Shocked
  

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SkyChief
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Re: Central Bank Gold Hoarding Hits 50-Year High
Reply #117 - Jan 14th, 2020 at 8:06pm
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Jeff wrote on Jan 14th, 2020 at 5:16pm:
That the value of money would be kept regular by Congress is a fool's dream, I suppose... Even though that's a duty assigned to them by the Constitution.

Perhaps Indy's right, and Congress has already betrayed America. Shocked

The value (purchasing power) of fiat money ALWAYS declines over time.  There are no exceptions to this rule.

The value (purchasing power) of metals has remained virtually unchanged for 2000 years.  That's why they are a good store of wealth.

The very best Bank Ten-year CDs only yield around 2.2% -  which is only a third of real-world inflation.

The Fed tells us that inflation is under 3%/yr.   That's a foolish lie. 
  

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Re: Deficit Spending, Debt & Printing
Reply #118 - Jan 15th, 2020 at 7:34am
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Re: Deficit Spending, Debt & Printing
Reply #119 - Jan 15th, 2020 at 7:35am
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