Yes, I clocked that and 'N' and was writing about it earlier for this Saturday. You are always ahead of me! As I said before, with your talent, you should have your own Substack!
BTW - together with the Arabs they were also the biggest shareholders which is why they went ahead leaving AT1's with nothing and actually this is against the general hierarchy of creditors: bonds first, then equities, then depositors and unsecured.
I wonder how much derivative exposure those two entities have?
One would think the small local banks, regional in nature, would tend to stay out of those risky ventures - but maybe they are all wrapped around each other and not really different, but some sort of big banking mass of fiat?
If you tell me that their derivatives exposure is $100 Trillions, I won't argue about it since the total global derivatives is in $quadrillions. The distance to the sun is equivalent to the length of $1 Trillion in $100 bills.
I read that SVB was heavy into the 'social equity' style of managing and hiring even top level staff. Read the top brass all got terminated. So there may have been some social justice skullduggery involved. Also read that was one reason the fed jumped in to save them. Can't have a woke bank failure.
Truth: America acts only in the Rothschild Khazarian Mafia interests.
The decision to cancel the submarines contract with France came from "The City of London", not from Bidensky who is nothing but a Rothschild Khazarian Mafia (RKM) puppet running the new Roman empire by the Potomac.
When an American president travels to a Chicago airport to meet Clown Schwab on his way to Mexico, the US can no longer be considered a country.
Oh very good 'N' but weren't the French ones diesels and Oz wanted nuclear? This might interest you with your interest in the technicals ( I'm no engineer):
Anyway, I agree your Khazarian connection - it's always about the money & geo-power. But talking of gangsters, you might like to comment on this one - leaves me undecided - it's an alternative to BOOM's assessment:
P&S - this is what I think....off the tips of my fingers.....tell me if I'm off base:
~
That alternative assessment per link provided ("meaninginhistory") seems plausible or at least reads as such. Is there data on this on an "individual bank entity" level - for big and small entities as discussed per the linked article:
~
"The average bank in the US has about 50 percent of its deposits insured [through FCIC]. …
At SVB at the end of 2022 only 2.7 percent of deposits were covered by FDIC insurance! …
Why did SVB have so many uninsured deposits? ..."
~
Seems to me that is info I'd like to have with respect to any banking establishment on a single entity level.....Bank of America for example....that "customers" deposit into. Seems if the percentage is low and the Bank has certain holdings that the whole institution is vulnerable as monetary flux becomes a "monster" out of anybody's control. And was that a typo when "fCic" was typed......I think so....I think that was supposed to be fDic as well? Regardless, that bank, "SVB" seemed to be the "bank of choice" for these startups and other "silicon valley" enterprises where the money flows so fluidly - frankly, I don't understand why my tax dollar is going to bail them out.......seems unfair and it is, but when do the "bankers" play fair especially being they think they rule us.
~
I think another aspect of the alternative assessment that possibly could be agreed upon by all is that the "current fiscal system" is rigged, biased, and not in the interest of every-day citizens just trying to get by month to month. It is designed as such, but the system is most unbalanced (can anybody say "fiat" out of nowhere...fiat without good faith) and various "instruments" involving moving "funds" from one entity to another are breaking down for good reason since they make no sense to the common man and basically just enrich a few and keep power and enforcement concentrated in the hands of evident psychos. Their house of cards is built upon mathematical constructs that they themselves don't even understand and just like calculus are flawed at the edges fatally when the edges are approached as they almost always are over time.
If the psychos are now starting to claw at each other's necks in earnest, that only highlights the flaws in their ideology even moreso - I hope they all suck each other down the drain of ignominy that pulls with the force of a black hole - shame upon them.
The rest of us have some serious business to tend to and the bankers need some comeuppance permanent. Lets hope they deliver to themselves and let those of us trying to do serious business, create real capital of value, get to do something worthwhile while they play mathematical mind games of harm and destruction to themselves.
~
Local commerce is what I advocate. Big banks are a scourge. Central Bankers can go to hell for all I care. What good have they done for "us"?
Your thinking is exactly right, Ken, as far as I am concerned. I advocate producers (ie doers) retreating to their local economies which will actually work very well and keep the rewards within the local area apart from trading with like economies within a network. I'm not sure whether I have linked this before: https://austrianpeter.substack.com/p/the-financial-jigsaw-part-2-localisation?s=w
You are incredible to me. I remember in 2008 or thereabouts when Wells-Fargo acquired Wachovia and the CEO at the time said something like: it was like shopping in a candy shop.
~
I think some of the CEO's are so detached from their local place, they have lost touch.
~
I think so many folks are detached from what is important and they put stock in their minds into things they think will last forever and I think they are incorrect. In fact, when I type this my nephew comes to mind and I told him with witness present that some bonds and some currency if based on nothing but good faith will diminish and lose all value and the rest of them just sort of chuckled when I said that, but I meant it when I said it and I mean it still. Cause lets be honest - if currency has no basis besides good faith, and if good faith diminishes, then the currency, fiat I reckon, will be worthless. Will it not?
~
So that is why it is better to have skills and abilities and goods to offer locally. Because we all ought know if they are trying to kill us, then we must defend ourselves and then we must deliver Justified Retribution. Simple really and not complicated and it can be done during a time of transition. From old ideas proven wrong to new ideas maybe better.
"the currency, fiat I reckon, will be worthless. Will it not?"
Very true Ken - all currency relies on faith & trust and when this is lost it is almost impossible to recover and the currency goes with it. They say liars never prosper - there has to be a reckoning one day or another. I wrote about it a while ago:
Seems a shame to me we will never meet face-to-face, but maybe there is a chance sometime in the future, somehow, someway, we could meet face-to-face, and if it happens I already told you the Inn in Mendips where we can meet.
Until then I reckon, we will just have to share ideas with each other over the web as long as it stays active.
The reason Australia went for diesel was that it is not allowed to handle nuclear submarines/weapons. France was abiding by the international law when they signed the contract and they had already invested in the building of the first sub.
The UK, US & Australia (The city of London) then made a secret deal and informed France one week before the signature that little Napoleon was no longer needed!
That's how NATO works!
I think Australia agreed to pay ~$1 billion to end the contract with France.
That's the thing about contracts ain't it - versus regulation...
"Contracts" usually have an "out" clause.
Then if one party is out of the contract, per the contract terms as agreed, then the contract is null and void.
Still, I don't understand or appreciate why Australia would even want nuclear subs - seems to be a fools-game and just more pushing fiat around I reckon not in the interest of Australian folks who actually live there.
If I was an Australian citizen I would think to myself......"what ocean is Australia within and who are our closest neighbors"......if you think about it that way, it makes total sense for Australia and China to be pals - trading pals at least and cordial neighbors at a minimum - for the sake of the citizens of both places. So, who needs the damn over-priced nuclear subs - in whose interest is that and betcha the diesel subs would have been so much better.
I don't.....I don't want to fight China nor India - and Australia is in the South Pacific and Indian Oceans and China and India are physically closer, and I think that matters.
~
But, I sort of get the "bandera" humor, it is almost too ironic to even be funny lately. I got no personal issues with either China, India, or Russia for that matter. I think Australia should tell the us of a to go pound salt. I think the bankers are fixing to get subsumed in the cave of wealth and death where Lady Libra dishes out justice fair and hexagonal.
~
If I lived in Australia I think I'd be more pissed then I already am sometimes because they had camps setup there and actually some folks were held in detention - that is spooky goofy stupid weird and I hope Australia comes to its senses soon. The sooner the better.
You know that you have no choice in the New World Order!
Ukrainians are not fighting because they wanted to fight - they were compelled to fight after Boris Johnson landed in Kiev in March 2022 and asked them to withdraw from the peace agreement with Russia!
Not to be naive, but 2 basic questions come to mind:
1. From whence did the funds to "bail-out" arise? (fiat I reckon....?)
2. Does the underlying fatal imbalance created by the "financial derivative instruments" not remain as such?
~~~~~
Is this not another act of "kicking the can down the road"......if so, seems like a flawed approach basically already proven to increase instability and only leading to bigger waves of disruption if the system remains corrupted and flawed as seems evident in so many ways.
Alternatively, could events recent, including the banking failures, more accurately be described as the beginning momentum of dominoes falling - whether intentional or not? I suspect so, so I've got no comfort that "things will steady down".....I think it is the opposite as flux goes into "hyper-drive" due to flawed ideology. So, I have planned accordingly, and if it turns out wiser minds prevail, then no harm on my end, but if things remain on the present pathway, then I suspect I'll be happy I planned in advance with contingencies.
You are very correct to plan accordingly BK. Nobody really knows where this is going but 'pundits' will claim all sorts of insider knowledge just to sell their book. There is always opportunity in crisis so everyone and his dog will jump on the band wagon. I came across this guy recently which will expand it for you - I did chat to him: https://exorbitantprivilege.substack.com/p/the-newold-art-of-monetary-stability
The derivatives are still hiding in the background which Buffet calls 'Weapons of Mass Financial Destruction' so yes, a mega risk remains. The funds for the bailout are created out of 'fresh air' (stealth QE). Briefly this is how it's meant to work in America and it's similar in Britain.
• The Fed gives new (fiat) money to the FDIC at the failed bank.
• The FDIC gives the money to ALL depositors now (it was only the insured before)
• The FDIC then sells reclaimed assets of the bank, which takes some time.
• The difference between the cost of the bailout and the proceeds from the asset sales the FDIC losses.
• The FDIC sends a bill to 'healthy banks' as a “special assessment” to cover these losses, “as required by law.”
FDIC can then return funds to the Fed which it has collected from the other healthy banks. The deficit (which always arises) is borne by the Fed (ie tax-payer). So, although they haven't admitted it, it is a tax-payer bailout and no different from any other bailout in history except that it's 'sold' so they have plausible denial because it doesn't actually look like it. (aka fraud, gaslighting, fake news etc). Not one in a million will spot it and is why Janet Yellen in the video above is not able to answer the Rep's questions.
BTW - Shareholders and some bondholders will get 'bailed-in' as has happened in the Credit Suisse/UBS deal but here they have tried to put AT1 bond holders behind the equity claims which is not correct. This is because some of the big investors are rich Arabs and BlackRock et al who had undue influence over the regulators (as usual). In essence it's a fraudulent fix (as usual). Senior management gets the boot without I assume any claw-backs or indictments nor restitution (as usual).
LOL - so well put Ken - you have it in one! Yes the can might be kicked again but it won't be long before it runs out of road - we call this a currency crisis - viz, Zimbabwe, Venezuela, Lebanon et al. But this won't happen the same way with the dollar. It will merely waste away over time.
But a credit crisis might well appear when nobody is looking and the bubble bursts! Note in the link: "the lender of last resort" is the FED
Lately, I ain't looking for books to read - I've read my fair share already.
Lately, as you know, I'm focusing on my Garden Ambitions...this helps from the perspective of sanity....but although I am a Country Bumkin (self-proclaimed "Presdint", I ain't no dimwit I'd like to think (right or wrong), and I
think I'm done reading any more books - but that 4th Turning one I read more than a decade ago at the suggestion of my old neighbor who now has passed on must of stuck with me in a way.
It helps to see the thoughts from others I respect, and vice-versa I hope, because none of us are going to get through this alone.
In better times, I could come to your place and visit without concern and share and appreciate the local scenery, but I doubt in the future anybody will be referring to the present times as "the better times"....so that is that.
Well put Ken - and it's us 'country bumpkins' who will survive because we are prepared. And yes, I was so impressed with the Fourth Turning which rings so true.
Most at my gang of patriots in PA and the owner, Jim Quinn (Admin) agree; Jim has a great writing skill - down to earth IMHO:
Vanguard and BlackRock own a combined ~21% of SVB deposits.
It's obvious why the Rothschild Khazarian Mafia had to rescue itself!
Yes, I clocked that and 'N' and was writing about it earlier for this Saturday. You are always ahead of me! As I said before, with your talent, you should have your own Substack!
BTW - together with the Arabs they were also the biggest shareholders which is why they went ahead leaving AT1's with nothing and actually this is against the general hierarchy of creditors: bonds first, then equities, then depositors and unsecured.
I wonder how much derivative exposure those two entities have?
One would think the small local banks, regional in nature, would tend to stay out of those risky ventures - but maybe they are all wrapped around each other and not really different, but some sort of big banking mass of fiat?
These 2 giants manage $ trillions in assets!
Whose assets do they manage?
Banks,
Hedge funds,
Individual investors
International corporations (money launderers?)
etc....
If you tell me that their derivatives exposure is $100 Trillions, I won't argue about it since the total global derivatives is in $quadrillions. The distance to the sun is equivalent to the length of $1 Trillion in $100 bills.
Forget about visualizing a $quadrillion.
To be honest, the system is doomed!
This is a Poem - Poem of the day from BK....32223 1025 (est time)
~~~~~P~~~~~~
I may be a Country Bumkin, but a quadrillion is as follows:
1 (quad) - 000000000000000 - (that is 15 zeros after the 1)
~~~~
To bring this home, a quadrillion is 1000 trillion.
The US "debt" last I checked was over 40 trillion.
A quadrillion is like 25 times higher than even that long-term debt.
A trillion is a 1000 billion.
~~~
With 1 billion I could grow quite a nice farm.
But I don't even have a million which is 1000 times less than a billion.
Plus, money doesn't plant garden seeds - money is basically imaginary these days.
Per the 14th Amendment I think it was (after the Civil War 1.0), debts incurred fraudulently have no standing.
~~
So who needs fiat I query?
The bankers might,
the MMT theorist think it is great....
But, the country bumkin know what really has value
~
End of Poem
2 edits made with 5 minutes...within 2 minutes..I won't make another
That's a great poem Ken, well done. Most enjoyable and so true. Here are your great compatriots agreeing with you! https://www.theburningplatform.com/2023/03/19/multi-generational-ponzi-scheme/
Noted.
Absolutely true 'N' - sad that so few understand it.
Hilarious to learn the crypto investors need a bail out! Ha!
They claim crypto is a free market currency!
I read that SVB was heavy into the 'social equity' style of managing and hiring even top level staff. Read the top brass all got terminated. So there may have been some social justice skullduggery involved. Also read that was one reason the fed jumped in to save them. Can't have a woke bank failure.
Very true Bert - SVB was a Crypto pipeline:
https://wallstreetonparade.com/2023/03/silicon-valley-bank-was-a-wall-street-ipo-pipeline-in-drag-as-a-federally-insured-bank-fhlb-of-san-francisco-was-quietly-bailing-it-out/
The deeper you scratch the surface the worse it smells
Correction for Bidensky:
Myth: “America acts only in its own interests”.
Truth: America acts only in the Rothschild Khazarian Mafia interests.
The decision to cancel the submarines contract with France came from "The City of London", not from Bidensky who is nothing but a Rothschild Khazarian Mafia (RKM) puppet running the new Roman empire by the Potomac.
When an American president travels to a Chicago airport to meet Clown Schwab on his way to Mexico, the US can no longer be considered a country.
Oh very good 'N' but weren't the French ones diesels and Oz wanted nuclear? This might interest you with your interest in the technicals ( I'm no engineer):
https://www.popularmechanics.com/military/navy-ships/a37667312/france-australia-broken-submarine-deal-explained/
Anyway, I agree your Khazarian connection - it's always about the money & geo-power. But talking of gangsters, you might like to comment on this one - leaves me undecided - it's an alternative to BOOM's assessment:
https://meaninginhistory.substack.com/p/what-is-the-svb-collapse-about
P&S - this is what I think....off the tips of my fingers.....tell me if I'm off base:
~
That alternative assessment per link provided ("meaninginhistory") seems plausible or at least reads as such. Is there data on this on an "individual bank entity" level - for big and small entities as discussed per the linked article:
~
"The average bank in the US has about 50 percent of its deposits insured [through FCIC]. …
At SVB at the end of 2022 only 2.7 percent of deposits were covered by FDIC insurance! …
Why did SVB have so many uninsured deposits? ..."
~
Seems to me that is info I'd like to have with respect to any banking establishment on a single entity level.....Bank of America for example....that "customers" deposit into. Seems if the percentage is low and the Bank has certain holdings that the whole institution is vulnerable as monetary flux becomes a "monster" out of anybody's control. And was that a typo when "fCic" was typed......I think so....I think that was supposed to be fDic as well? Regardless, that bank, "SVB" seemed to be the "bank of choice" for these startups and other "silicon valley" enterprises where the money flows so fluidly - frankly, I don't understand why my tax dollar is going to bail them out.......seems unfair and it is, but when do the "bankers" play fair especially being they think they rule us.
~
I think another aspect of the alternative assessment that possibly could be agreed upon by all is that the "current fiscal system" is rigged, biased, and not in the interest of every-day citizens just trying to get by month to month. It is designed as such, but the system is most unbalanced (can anybody say "fiat" out of nowhere...fiat without good faith) and various "instruments" involving moving "funds" from one entity to another are breaking down for good reason since they make no sense to the common man and basically just enrich a few and keep power and enforcement concentrated in the hands of evident psychos. Their house of cards is built upon mathematical constructs that they themselves don't even understand and just like calculus are flawed at the edges fatally when the edges are approached as they almost always are over time.
If the psychos are now starting to claw at each other's necks in earnest, that only highlights the flaws in their ideology even moreso - I hope they all suck each other down the drain of ignominy that pulls with the force of a black hole - shame upon them.
The rest of us have some serious business to tend to and the bankers need some comeuppance permanent. Lets hope they deliver to themselves and let those of us trying to do serious business, create real capital of value, get to do something worthwhile while they play mathematical mind games of harm and destruction to themselves.
~
Local commerce is what I advocate. Big banks are a scourge. Central Bankers can go to hell for all I care. What good have they done for "us"?
~
Regards,
BK
Your thinking is exactly right, Ken, as far as I am concerned. I advocate producers (ie doers) retreating to their local economies which will actually work very well and keep the rewards within the local area apart from trading with like economies within a network. I'm not sure whether I have linked this before: https://austrianpeter.substack.com/p/the-financial-jigsaw-part-2-localisation?s=w
And re: Bank of America - here's the answer to your question, it's out of date and would likely be much bigger now: https://www.fool.com/investing/2017/05/14/what-percent-of-bank-of-americas-deposits-are-insu.aspx
You are incredible to me. I remember in 2008 or thereabouts when Wells-Fargo acquired Wachovia and the CEO at the time said something like: it was like shopping in a candy shop.
~
I think some of the CEO's are so detached from their local place, they have lost touch.
~
I think so many folks are detached from what is important and they put stock in their minds into things they think will last forever and I think they are incorrect. In fact, when I type this my nephew comes to mind and I told him with witness present that some bonds and some currency if based on nothing but good faith will diminish and lose all value and the rest of them just sort of chuckled when I said that, but I meant it when I said it and I mean it still. Cause lets be honest - if currency has no basis besides good faith, and if good faith diminishes, then the currency, fiat I reckon, will be worthless. Will it not?
~
So that is why it is better to have skills and abilities and goods to offer locally. Because we all ought know if they are trying to kill us, then we must defend ourselves and then we must deliver Justified Retribution. Simple really and not complicated and it can be done during a time of transition. From old ideas proven wrong to new ideas maybe better.
"the currency, fiat I reckon, will be worthless. Will it not?"
Very true Ken - all currency relies on faith & trust and when this is lost it is almost impossible to recover and the currency goes with it. They say liars never prosper - there has to be a reckoning one day or another. I wrote about it a while ago:
https://austrianpeter.substack.com/p/the-financial-jigsaw-part-2-special-ec0?utm_source=email
I remember that article - I posted on it.
Seems a shame to me we will never meet face-to-face, but maybe there is a chance sometime in the future, somehow, someway, we could meet face-to-face, and if it happens I already told you the Inn in Mendips where we can meet.
Until then I reckon, we will just have to share ideas with each other over the web as long as it stays active.
With Respect,
BK
The reason Australia went for diesel was that it is not allowed to handle nuclear submarines/weapons. France was abiding by the international law when they signed the contract and they had already invested in the building of the first sub.
The UK, US & Australia (The city of London) then made a secret deal and informed France one week before the signature that little Napoleon was no longer needed!
That's how NATO works!
I think Australia agreed to pay ~$1 billion to end the contract with France.
Ah, thanks 'N' great explanation - I live and learn :-)
That's the thing about contracts ain't it - versus regulation...
"Contracts" usually have an "out" clause.
Then if one party is out of the contract, per the contract terms as agreed, then the contract is null and void.
Still, I don't understand or appreciate why Australia would even want nuclear subs - seems to be a fools-game and just more pushing fiat around I reckon not in the interest of Australian folks who actually live there.
If I was an Australian citizen I would think to myself......"what ocean is Australia within and who are our closest neighbors"......if you think about it that way, it makes total sense for Australia and China to be pals - trading pals at least and cordial neighbors at a minimum - for the sake of the citizens of both places. So, who needs the damn over-priced nuclear subs - in whose interest is that and betcha the diesel subs would have been so much better.
BK
We want to fight China to the last Australian after we exit Bandera Reich!
I don't.....I don't want to fight China nor India - and Australia is in the South Pacific and Indian Oceans and China and India are physically closer, and I think that matters.
~
But, I sort of get the "bandera" humor, it is almost too ironic to even be funny lately. I got no personal issues with either China, India, or Russia for that matter. I think Australia should tell the us of a to go pound salt. I think the bankers are fixing to get subsumed in the cave of wealth and death where Lady Libra dishes out justice fair and hexagonal.
~
If I lived in Australia I think I'd be more pissed then I already am sometimes because they had camps setup there and actually some folks were held in detention - that is spooky goofy stupid weird and I hope Australia comes to its senses soon. The sooner the better.
~
BK
BK,
You know that you have no choice in the New World Order!
Ukrainians are not fighting because they wanted to fight - they were compelled to fight after Boris Johnson landed in Kiev in March 2022 and asked them to withdraw from the peace agreement with Russia!
It's a Big Club and you ain't in it!!
George Carlin describes the American Dream
It's A BIG Club & You Ain't In It!
https://youtu.be/Nyvxt1svxso
Not to be naive, but 2 basic questions come to mind:
1. From whence did the funds to "bail-out" arise? (fiat I reckon....?)
2. Does the underlying fatal imbalance created by the "financial derivative instruments" not remain as such?
~~~~~
Is this not another act of "kicking the can down the road"......if so, seems like a flawed approach basically already proven to increase instability and only leading to bigger waves of disruption if the system remains corrupted and flawed as seems evident in so many ways.
Alternatively, could events recent, including the banking failures, more accurately be described as the beginning momentum of dominoes falling - whether intentional or not? I suspect so, so I've got no comfort that "things will steady down".....I think it is the opposite as flux goes into "hyper-drive" due to flawed ideology. So, I have planned accordingly, and if it turns out wiser minds prevail, then no harm on my end, but if things remain on the present pathway, then I suspect I'll be happy I planned in advance with contingencies.
~~~
Best to You,
BK
You are very correct to plan accordingly BK. Nobody really knows where this is going but 'pundits' will claim all sorts of insider knowledge just to sell their book. There is always opportunity in crisis so everyone and his dog will jump on the band wagon. I came across this guy recently which will expand it for you - I did chat to him: https://exorbitantprivilege.substack.com/p/the-newold-art-of-monetary-stability
The derivatives are still hiding in the background which Buffet calls 'Weapons of Mass Financial Destruction' so yes, a mega risk remains. The funds for the bailout are created out of 'fresh air' (stealth QE). Briefly this is how it's meant to work in America and it's similar in Britain.
• The Fed gives new (fiat) money to the FDIC at the failed bank.
• The FDIC gives the money to ALL depositors now (it was only the insured before)
• The FDIC then sells reclaimed assets of the bank, which takes some time.
• The difference between the cost of the bailout and the proceeds from the asset sales the FDIC losses.
• The FDIC sends a bill to 'healthy banks' as a “special assessment” to cover these losses, “as required by law.”
FDIC can then return funds to the Fed which it has collected from the other healthy banks. The deficit (which always arises) is borne by the Fed (ie tax-payer). So, although they haven't admitted it, it is a tax-payer bailout and no different from any other bailout in history except that it's 'sold' so they have plausible denial because it doesn't actually look like it. (aka fraud, gaslighting, fake news etc). Not one in a million will spot it and is why Janet Yellen in the video above is not able to answer the Rep's questions.
BTW - Shareholders and some bondholders will get 'bailed-in' as has happened in the Credit Suisse/UBS deal but here they have tried to put AT1 bond holders behind the equity claims which is not correct. This is because some of the big investors are rich Arabs and BlackRock et al who had undue influence over the regulators (as usual). In essence it's a fraudulent fix (as usual). Senior management gets the boot without I assume any claw-backs or indictments nor restitution (as usual).
Thank-you for that excellent explanation.
So, it is fiat.
It does seem to be "kicking the can again"....but I put forth that:
fiat is based upon nothing but good faith
good faith is rapidly diminishing....
as good faith in fiat goes,
so goes fiat.
Momentous flux is upon us..
seems as such to me.
Plus, after awhile the can gets kicked it goes off the side of the road...
~~~
Ken
LOL - so well put Ken - you have it in one! Yes the can might be kicked again but it won't be long before it runs out of road - we call this a currency crisis - viz, Zimbabwe, Venezuela, Lebanon et al. But this won't happen the same way with the dollar. It will merely waste away over time.
But a credit crisis might well appear when nobody is looking and the bubble bursts! Note in the link: "the lender of last resort" is the FED
https://www.theburningplatform.com/2022/01/27/revisiting-the-anatomy-of-a-bubble/
If you would like a good book to read (fiction but very true IMHO) about USA collapse 2029: https://www.amazon.co.uk/Mandibles-Family-2029-2047-Lionel-Shriver/dp/0007560745
Lately, I ain't looking for books to read - I've read my fair share already.
Lately, as you know, I'm focusing on my Garden Ambitions...this helps from the perspective of sanity....but although I am a Country Bumkin (self-proclaimed "Presdint", I ain't no dimwit I'd like to think (right or wrong), and I
think I'm done reading any more books - but that 4th Turning one I read more than a decade ago at the suggestion of my old neighbor who now has passed on must of stuck with me in a way.
It helps to see the thoughts from others I respect, and vice-versa I hope, because none of us are going to get through this alone.
In better times, I could come to your place and visit without concern and share and appreciate the local scenery, but I doubt in the future anybody will be referring to the present times as "the better times"....so that is that.
With Respect,
Ken
Well put Ken - and it's us 'country bumpkins' who will survive because we are prepared. And yes, I was so impressed with the Fourth Turning which rings so true.
Most at my gang of patriots in PA and the owner, Jim Quinn (Admin) agree; Jim has a great writing skill - down to earth IMHO:
https://www.theburningplatform.com/2023/01/22/2023-fourth-turning-meets-mass-formation-psychosis/
Thank you for the links to BOOM and the updated information.