Is a Central Bank Digital Currency (CBDC) a good idea for the USA?
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Loading ...And our thinking is parallel .
The global directors have gone over to the dark side , and society has turned in that direction all too often .
A quarter century earlier , I had hired on with the European subsidiary of a well respected American corporation . At the time there were 130 000 global employees , but as the years passed , more and more of that corporation’s technology was spun off to enrich the coffers of the HQ entity , and ‘make the numbers’ . Each time there was an accompanying reduction in global head count . I started keeping a file of the company year end newsletters which listed the remaining head count .
As part of my job I had become interested in math modeling , and about 15 years into my employment ( including transfer from Europe back to USA ) , I decided to make a simple linear regression model of headcount , based on those numbers , more as amusement than anything . I was astounded that my ‘model’ predicted the demise of that American icon by 2015 , and the goodness of fit was over 99% ! So that told me the corporate plan had been in place already when I first hired on , to run the company into the ground a few years after my projected retirement date . That also told me that pension benefits would one day be worthless .
A few years later , I was in charge of a multi-million dollar project back in Europe that was deliverable a couple of years later . The corporate retirement package was to be drastically altered at year end 1996. About thirty of us in a certain age group and years of service would be impacted by the proposed changes and corporate legal knew there could be lawsuits , so each of us were called in individually by an upper level management type and asked ‘how we would feel’ if we were to be laid off with a golden parachute .
I had known my answer to that question for over six years previously … “YES ! I would happily accept a lump sum payout , and would gladly hire back on the day after as a consultant on the same job AT HIGHER PAY and with retirement health care benefits etc.”
My lump sum was put into a 401K , I worked for another year until the project was delivered , and then took a few months off before taking a part time position in a small company . Three or four years later the administrator for the 401K became DB ( DeutscheBank ) and they changed the rules of the 401K which I did not like . By this time it was almost Spring 2001 , and I did not like the smell of the .com stocks , so I visited the local office of a well known brokerage firm which converted my 401K into a self-directed IRA . I had been a long term gold bug , so decided to dabble in PM mining shares . At the time I was subscribed to RUFF Times and took a lot of his advice to heart . In addition to the IRA , I was converting a portion of my earnings ( which was more than my frugal monthly expenses ) to start buying physical G&S .
The .com bubble crashed , I was buying Swiss Vrenelli’s (0.18 ounce gold ) for $52 apiece , and my IRA was doing better every month . Five years in , I had quadrupled my IRA nest egg with zero tax liability except for non-mandatory withdrawals .
THOSE WERE THE DAYS , MY FRIENDS !
Then my wife* died suddenly and things went downhill for quite a while .
(* I had seen her once on passing escalators for a few seconds and thought she was the most beautiful creature I had ever seen . Ten years later , coming out of a bitter divorce a colleague at work began pestering me to meet his wife’s cousin . I put it off for over half a year , but finally relented and SHAZAM ! …it was the gorgeous creature from the escalator . She was it from that evening . We married a month after I got my divorce , and had twenty wonderful years together until a sudden medical intervention went wrong and took her life .)
But a year later I met my current wife on line , and found happiness again about a half year afterward when we finally met face to face .
Sometimes the light at the end of the tunnel is not an oncoming train .
…..and he is right on in his thinking that mass migration is a globalist weapon. As it says in the article, “If you think this is a political problem you are missing the point. . . . We are dealing with a diabolical conspiracy that hates God and hates God’s people, hates his church and everything He has ordained. Everything you would expect to see is exactly what you see. God ordained there should be nations after the Tower of Babel. So, of course, the Globalist wage war on nation states. God has ordained there should be families. So what do we see? A massive global war on families. God has ordained private property. Thou shalt not steal. So what do we see? A massive global war on private property. . . . It’s ludicrous, but it is everything we should expect to see from a force that hates God. I think that is what we see.”
Best to you Alex and I hope others will take the time to watch that interview. Here it is again.
I remember a few months ago watching a video of a fellow who came into possession of a home built about a century ago , and finding caches of old metal school lunch boxes literally stuffed with $20 pre-FDR gold bills . The bank honored the face value in $20 Fed Reserve Notes , and the guy was pleased as punch to turn them in .
Little did he realize how badly America was screwed when each of those notes no longer could be converted to an ounce of gold .
Whoever collected and hid them obviously thought that the government would again honor them in gold some day . He died waiting .
and I get the feeling that the pace is picking up speed . The Mike Adams article from Wed. is a definite keeper .
As individuals we may have to be prepared to do things which are normally repugnant to us , in order to survive what lies ahead . Look at video clips from Portland OR antifa actions over the past year to get a glimpse of the mindset of many young people . Too many have no moral compass .
Someone may have already posted this , but this interview with a very intelligent young man is worth considering , and applies to the UK , Canada , USA , and any other sovereign nation which wishes to protect its citizens and culture :
I imagine the chart would look a lot different if they used the real inflation rates instead of the government fake CPI data. It would show gold in 1980 to be a lot higher.
Food for thought. When the stock market imploded with the dot com bust, in March 2000, everybody I knew lost $200-$500 thousand. Soon afterward, TPTB replaced the losses with a skyrocketing Home Depot real estate boom. One spouse said to the other…. “Look honey, we lost $400k in the stock market, but look we just made $400k on our house”
So, if the Stock market, real estate market, and bond market crashes all together, Its POSSIBLE the only thing left to make America whole AGAIN, would be a booming domestic economy or rather a booming entry level consumer/taxpayer which would lift all the wages and tax receipts.
As for a US Dollar currency crisis? That depends deflation or inflation (increase in money supply ie low rates did not help) If a deflation unfolds? (contraction in money supply, bad loans high rates) the Gold hard money people will be rewarded EITHER way.
They had REASONS for putting “$50” on a one ounce gold eagle, just in case the Fed Note dba illegally as US Dollar collapses in value. All old fed Notes would have to be turned in and exchanged for the new real restored US Dollar. The Fed would probably be abolished, or even they would be exchanging old notes for new Gold dollars.
Gold and honest money is the end game. The exchange ratio back to gold would have to be very high, in the thousands to encourage and promote and make happen the switch over to the $50/oz coins. Some people, the early birds, have ALREADY turning in $1,200 Fed Notes for the $50 Gold coins.
Excerpt taken from Natural News article. Looks like lots more things are gonna be required to get through this one. Better get prepared.
Wednesday, January 02, 2019 by: Mike Adams
Because of the collapse of reason, civility, law and order, over the next few years humanity will be tested like never before. As The Burning Platform writes:
Based upon history, the resolution will not be based on compromise, civility, reason, or peaceful means. The combustible combination of unpayable debt, civic anarchy, and global chaos are set to detonate, creating an era of maximum darkness, death, destruction, and decisions. Making America Great Again will require personal sacrifice, dreadful choices, survival skills, intelligent decisions, and the courage to win at all costs.
The delusion of stock market profits is not going to bail out the mass destitution that’s coming soon for the American people. The “wealth” has all been stolen by the usual suspects: central banks and corrupt bureaucrats. Your dollars will one day be rendered worthless, which means your bank account “savings” will be worthless even if the numbers still appear on your bank account statements. Pensions will be wiped out. The real estate bubble has already begun to collapse, and the bond bubble won’t be far behind now that the Fed is tinkering with interest rates again (in another desperate effort to crash the stock market under Trump).
The sobering truth is that what’s really coming for America won’t look that different from what has already happened in Venezuela. You’re going to see mass unemployment, an exploding population of homeless people and a dramatic worsening of the opioid crisis. Suicides will skyrocket, infectious disease will spread and the Democrats will incessantly demand you surrender more power to them to solve it all. Bigger government is the answer, you’ll be told… and oh, by the way, don’t forget to turn in your guns or you won’t qualify for government food stamps.
Soylent green suddenly doesn’t seem that far-fetched anymore. Except in our dystopian society, even the soylent green will be too toxic to consume, since today’s average human being is a cesspool of heavy metals, prescription drugs and pesticide residue. (I know, I’ve tested thousands of samples of human hair vs. wild animal hair in my analytical laboratory, and wild animal hair is pristine compared to human hair.)
Ultimately, the poisoned will feed on the poisoned. The clueless will vote for the clueless. The desperate will sell their bodies to the desperate in exchange for one more toxic meal. Social media will be the last cruel joke on humanity as the depressed, malnourished masses take to SnapChat to pretend their miserable lives are awesome… even as they contemplate suicide after the conclusion of each video clip.
Read more:
Considering we’ve been going inverse the SM. I guess it could also be better considering the USD is flat?
Nonetheless as RNO said we’re probably due a bit of a pullback – hopefully shallow – I’d think that would be bullish?
I’ve said before, this feels a lot more like 2001 for the SM. A slow, grinding, death by a thousand cuts type of correction…
Seem to be getting extended here. Probably have some pullback, consolidation next week to work off overbought condition. Trend is still UP! grain markets also catching some good bids in the absence of Chinese news and USDA reports. I have a few $5.20 KC wheat calls. Should get some kind of rally to put them in the money.
Everyone have a great weekend. I hope everyone is recovered from New Year partying!!!
rno
If we get an upside as big as the thrashing we’ve taken then there’s gonna be lotsa smiles around here! Sure feels like the real thing … some of the macro stuff has adjusted in our favor.
http://www.spdrgoldshares.com/usa/
Here’s another handy adjustable Gold chart: https://goldprice.org/gold-price-history.html
Time and again Trump is proven right ,this Mid East scum should be deported ,not given a seat in congress, its democracy’s weakness..thats why the founders gave us a REPUBLIC ,not a Democracy.You can’t lead from BeHIND ,all you get is a bunch of behinds sticking their asses in the air from the Mid East.Everything they do is ASS backwards.Get them outta here before they stink up there place…
Both 1980 and 2011 peaks are over $2000 an ounce , adjusted .
We have a long way to go to catch up .
Parts of the US economy yes WERE depending on China, (for cheap imports to sell to hapless Americans) but they will get hurt, too bad, Sears, nothing stays the same forever.
Copper too jumping off artificial lows. The market must have realized (todays reports) changed its mind today about the US economy getting slower. The market I think is confused about the US economy versus the Global economy.
My original thoughts after 2008 was that Globalization was going to fail, due to the USA no longer able to import everything from every country anymore, and that the USA would be the winner, and all other countries would be the losers. A simple reversal of the USA always losing.
I described the USA as the strongest swimmer, since it WAS always swimming with them all on our backs since 1975. The USA looking out for itself, was not good for the others. Instead of China being the biggest users of metals for decades, it will rotate over to the USA being the biggest user of metals. Probably domestic produced metals.
HUI coming back already … the cretins threw a girly man punch at us! (can I say that) 🙂
Yes it is a good site. I’m gonna save it too.
Ipso – looks like just a bloody nose to me, and it seems we had it coming anyway. The only thing that makes me nervous right now is the fact that the HUI hasn’t broken out. JMHO but we really need to see that happen.
R640 – thanks – good luck on your JNUG position. Usually you post what you’ve been doing but I thought I’d ask. Good luck!
G&S can’t be far behind .
Picked up a few lowball shares of JNUG on a dip this morning . We’ll see…
(Also some FFMGF)
Lotsa great posts the last few days. Thank you to all who have had the faith to stick it out and participate in their own way to encourage us all. Well Done Tenters, and All The Best From Silverngold.
Just started clicking around it. I’ll save that one. The “stock Screener” tab is handy. That’s where I saw a ticker for Barrick saying GOLD instead of ABX. Has little pop up charts there too.
Barrick’s New CEO Says Gold Industry Shake-Up Is Just Starting.
Stocks are in a bear mkt–I am holding for “big casino” gains…and have a big cushion-I will not allow my gains to become a loss…