I don't think it is possible to "have it both ways".
I advocate for local currency and if the currency in employ is river rocks, than that is fine by me.
Just depends on where you live I reckon, but local currency is a big part of the solution for a better future. On that I hope we can agree and eff the central bankers.
Agreed Ken - I do believe this too - the future will be local once this giant Ponzi implodes. Many write about it - here's one enthusiast: https://www.localfutures.org/
I was in Lowes the other day, the Lowes in Charlotte - not the other one I frequent - and they had a mini-pallet of river rock stepping stones - $180 is what they wanted. Hells-Bells, I walk out my door at my getaway place and those stones are essentially freely available to local members of the community assuming we don't get carried away.
People will pay mega-bucks for crap 'N'. I once heard of a celeb who visited another's mansion and commented that she didn't think you could get all this at Walmart! (I Americanised it for you). It's a class game we play here in UK.
Well if you want my opinion, if you buy in bulk you can get the 1-gram pieces with less currency, but still if WalMart is the only option, I think the current price is a bargain!
"Trust in our national money systems and in our national currencies is critical to keep our social system from implosion. ... BOOM suggests reform [rather than destruction] as a better pathway, a better discussion."
I'm not sure that it is possible to reform a system so corrupted by greed and astronomic debt. The US national debt, currently at more than $31 trillion, cannot be repaid IMO by the ~148.3 million tax payers which represents ~$209,035 per US tax payer: not that the UK is in a much better position.
The debt balloon has to burst soon (destruction) but as Peter wrote, quoting Boom recently, China is holding too many US dollars to allow it to collapse - yet!
It was no accident that hyperinflation first occurred in the 1790s in France, trying to print (money) itself out of the cost of the French Revolution.
In 2009 the Zimbabwe government issued a one hundred trillion dollar note, and so on.
Boom's suggestion that: "Commercial banks can make loans to the central bank. In this situation, the central bank becomes “the borrower of last resort”. Now, what if that became a permanent situation and the central bank then loaned the funds in turn onto the Treasury Department? The result would be a Treasury department that could spend the funds directly into the real economy. The real economy would be boosted immediately with no time lags between policy and consequence. And as long as all three parties agreed to reverse all interest payments when due, the money would be essentially new, debt free, digital and sovereign money." Seems very little different to the French 1790s and the Zimbawe 2009 solution.
There is a lot of "over-simplification" in this article I think. Some of it seems biased - if not suggestive.
I ain't no expert on fiscal banking matters, but I'm no fan of central bankers - in fact quite the opposite. Basically, I'm fedup with bankers in general.
Jackson was correct to dismiss the 2nd Bank I think, but in 1913 the central banking cartel got their revenge I reckon when they pulled a slick one in the waning days of the Congressional session...after they had their train ride and spent some time of the coast of Georgia in Jeckyl Island as I'm sure most readers here are already familiar with.
Interesting - why is it "Nevada" and "New Hampshire" I wonder whose state names are on the "GoldBack" - still, this seems better than crypto to me.....but did you know you can buy really small 1-gram coins made of gold? They are sweet - I have some in possession and there is an image of the now dead queen on them - a maple leaf image on the obverse.
Sweet this 1-g coins are - and a bird in the hand is worth.....you know.
I like gold too Ken but I am an old codger and prefer some assets under the bed like my mom used to do all those years ago. She didn't trust banks or custodians, she said they were villains and crooks.
Do you know for some bizarre reason, the "Reply" button has been hidden lately for me on SubStack, but I know where it resides and I just click there and it seems to work, but that is kind of odd I think P&S.
Oh well - weird stuff happens sometimes - I'm used to it. You know about the Maple Leaf coin I'm speaking of don't you - it is a beauty. Here, let me find a link for the fun of it -
But, lets consider this - being one can purchase gold at WalMart, if this sort of thing catches on, don't you think that might inflate the price? If so, then maybe things will start balancing off a bit and speaking of balance - the gold-silver ratio is way out of whack based on historical data.
I call that 'hope investing' Ken - more speculation which I avoid but others find it fun like all gamblers.
Yes, you're bang on about the gold-silver ratio - it's been this way for as long as I can remember so i guess the past is no guide to the future in this case. i think something fundamentally changed long ago. There are so many variables it's hard to tell.
But I do think silver should be in your portfolio, Ken.
Anybody gone answer why Nevada and New Hampshire or do I need to look it up myself?
My guess is they have some State Constitutional provisions that legally allow for gold tender.
I support that.
I support any provisions any State chooses to utilize to assert independence from federal authority and the first and foremost federal authority to declare independence from is the ironically named Federal Reserve. They are neither "Federal" nor do they have "Reserve". All they own presently is debt.
All true Ken : "The Utah, Nevada, and New Hampshire Goldbacks are a world-first form of gold "paper" currency that can be used as legal tender. Because the Goldbacks were made with the intention to provide an alternative currency to the US Dollar, they are easy to store and visually stunning."
Got a quick question for you - in his response, Gerry said as follows - I quote:
~
"Definitely no time for chit chat. Sorry. BOOM has many thousands of readers on multiple platforms for over 5 years. One major platform recently ceased publication so we started a Substack."
~
So, is "Gerry" BOOM, or is BOOM some sort of entity? Because he sort of spoke of it in 3rd Person as if it is above and beyond him (assuming "Gerry" is a he). Do you know? Now, I respect you, so I give BOOM heed, but I'd just assume know who the hell or what the hell BOOM actually is - my guess if in a corner is it is a bunch of central bankers with old ideas fixing to be proven wrong.
~
Pass the wine please - white wine.
I'll take a sip and pass it along.
To me to call a reader who takes the time to post - "chit-chat" sort of rubs me the wrong way.
BOOM is Gerry's 'nom de plume' Ken; he is careful to stay under the radar because he deals with some pretty high level people. He is a medical doctor and really top economist and financial analysis. For links check at the end of my Letters. He is a very busy chap and we Skype regularly.
When I wrote the first draft of my manuscript, he picked it up in 2015 and I had to re-write the whole thing because what I was taught in economics at university in the 60s turned out to be all wrong. I had to re-learn everything I knew and finally published in 2018 - updated to edition 4 in 2020 before the Covid crap became well known.
He doesn't have time for chit-chat and will chastise commenters on his new Substack for wasting his time. I guess he will block comments in due course.
I am a keen gardener and survivalist being a lifelong yachtsman so I have incentive to find and help people to understand what is happening and how to deal with it - unlike Gerry. I am a trained counseller and this can be read about in Part 2 of my book's Introduction (16 pages) which will explain more.
You're a star Ken - we live with so many differing humans all with their own world map. Tolerance of others (up to a point if harm is invoked) then my forgiveness becomes somewhat stretched! I ask for guidance on this one every day! :-)
This was my response to "Dr. Gerry" - aka BOOM???? - I quote:
~
"Fair enough. Welcome and I'll try to behave and maybe even subscribe, but you must know new ideas, or rather old ideas been stifled, those are ideas that might resonate so SubStack is probably a good place to expand your message - then if it is one that has merit it might catch on....if not, then so be it I reckon. If it is just a place to share old ideas then I doubt it will have much value for you or anybody else for that matter.
Stablecoin sounds like the worst possible option. It is like having one foot on the bank (dollar) and the other on the boat (crypto) when the boat is not securely moored to the bank. It is bound to fail as, whatever you think about crypto, it negates crypto's main advantage that it is totally independent of FIAT money.
True Greg but it is not actually independent of the US$ - it's tied to it, so as BOOM says it's just a proxy. Even Bitcoin is not independent - the Fed can kill it any time it wishes, but it suits them as a collaborator to the eurodollar.
That might be Boom's understanding, but it is not mine. Because the blockchain has no central server (it is peer-to-peer) it is independent, requiring no 'trusted party'. Therefore the Fed cannot kill it. However, I don't profess to be an expert in this.
A good article thanks. It makes the point well that: "The potential culpability of a central bank in manufacturing and precipitating crises provided the seed for Bitcoin’s invention."
While central banks should be essential for any society, when they allow the sort of debt levels that we are experiencing currently, then they become a totally broken model. I dread to think what happens next.
Yes, an excellent article by CHS. I've been through that, on a small scale, but when the total society reaches that point...!!!! Your future plan is a wise one, IMO.
I don't know enough about Crypto to comment Greg - I leave this to BOOM's expertise. Why not comment direct on his site? i am sure your observations would be welcome: https://substack.com/profile/101018275-dr-gerry
Great banking and dollar history that we could all learn from. Also like the crypto world being explained in common terms that were understandable.
The excessive death rate is curious. First comes the open borders around the Western world to third world immigration. Then comes the vaccine and the excessive deaths. The immigrants are not forced to get the vaccines. The corporate and government controlled dismisses the replacement theory as a conspiracy theory..........
I used to employ some of that cheap labor, they are only cheap in the start, then they begin to demand more and since they don't fully understand the culture, basically do what they want. Those who allow for such migration know this, so its not for greater profits.
I don't think it is possible to "have it both ways".
I advocate for local currency and if the currency in employ is river rocks, than that is fine by me.
Just depends on where you live I reckon, but local currency is a big part of the solution for a better future. On that I hope we can agree and eff the central bankers.
Agreed Ken - I do believe this too - the future will be local once this giant Ponzi implodes. Many write about it - here's one enthusiast: https://www.localfutures.org/
I was in Lowes the other day, the Lowes in Charlotte - not the other one I frequent - and they had a mini-pallet of river rock stepping stones - $180 is what they wanted. Hells-Bells, I walk out my door at my getaway place and those stones are essentially freely available to local members of the community assuming we don't get carried away.
So - what is the value of a river rock?
I guess it just depends.
People will pay mega-bucks for crap 'N'. I once heard of a celeb who visited another's mansion and commented that she didn't think you could get all this at Walmart! (I Americanised it for you). It's a class game we play here in UK.
Well if you want my opinion, if you buy in bulk you can get the 1-gram pieces with less currency, but still if WalMart is the only option, I think the current price is a bargain!
Agreed.
"Trust in our national money systems and in our national currencies is critical to keep our social system from implosion. ... BOOM suggests reform [rather than destruction] as a better pathway, a better discussion."
I'm not sure that it is possible to reform a system so corrupted by greed and astronomic debt. The US national debt, currently at more than $31 trillion, cannot be repaid IMO by the ~148.3 million tax payers which represents ~$209,035 per US tax payer: not that the UK is in a much better position.
The debt balloon has to burst soon (destruction) but as Peter wrote, quoting Boom recently, China is holding too many US dollars to allow it to collapse - yet!
Also Greg it is worth reading BOOM's Quantitative Boosting (QB) plan, see the link at the end of the editorial: https://boomfinanceandeconomics.wordpress.com/2019/12/15/boom-as-at-15th-december-2019/
It was no accident that hyperinflation first occurred in the 1790s in France, trying to print (money) itself out of the cost of the French Revolution.
In 2009 the Zimbabwe government issued a one hundred trillion dollar note, and so on.
Boom's suggestion that: "Commercial banks can make loans to the central bank. In this situation, the central bank becomes “the borrower of last resort”. Now, what if that became a permanent situation and the central bank then loaned the funds in turn onto the Treasury Department? The result would be a Treasury department that could spend the funds directly into the real economy. The real economy would be boosted immediately with no time lags between policy and consequence. And as long as all three parties agreed to reverse all interest payments when due, the money would be essentially new, debt free, digital and sovereign money." Seems very little different to the French 1790s and the Zimbawe 2009 solution.
IMO it is simply NUTS,.
I can't argue your logic Greg - good thinkng. I wonder what has stopped them?
There is a lot of "over-simplification" in this article I think. Some of it seems biased - if not suggestive.
I ain't no expert on fiscal banking matters, but I'm no fan of central bankers - in fact quite the opposite. Basically, I'm fedup with bankers in general.
Jackson was correct to dismiss the 2nd Bank I think, but in 1913 the central banking cartel got their revenge I reckon when they pulled a slick one in the waning days of the Congressional session...after they had their train ride and spent some time of the coast of Georgia in Jeckyl Island as I'm sure most readers here are already familiar with.
You can always talk to BOOM direct at the link above Ken - I re-post it mainly for my friends TBP - more comments here: https://www.theburningplatform.com/2023/05/09/sound-money-failed-in-the-usa-new-stablecoin-bill-in-congress-to-protect-us-banks-excess-deaths-in-uk-at-23-05-07-2023/ BOOM has his own Substack now.
I think I saw the reference to that and I thought that is what it was....maybe I'll check it out!
Ken
Here's something for BOOM to think about: https://www.goldback.com/
BOOM has included a review on Goldback in his editorial Rick, which I am publishing tomorrow which should help.
Thanks Rick - looks really good. I'll post it direct to BOOM, see what he says?
You can always talk to BOOM direct at the link above Rick - I re-post it mainly for my friends TBP - more comments here: https://www.theburningplatform.com/2023/05/09/sound-money-failed-in-the-usa-new-stablecoin-bill-in-congress-to-protect-us-banks-excess-deaths-in-uk-at-23-05-07-2023/ BOOM has his own Substack now.
Interesting - why is it "Nevada" and "New Hampshire" I wonder whose state names are on the "GoldBack" - still, this seems better than crypto to me.....but did you know you can buy really small 1-gram coins made of gold? They are sweet - I have some in possession and there is an image of the now dead queen on them - a maple leaf image on the obverse.
Sweet this 1-g coins are - and a bird in the hand is worth.....you know.
I like gold too Ken but I am an old codger and prefer some assets under the bed like my mom used to do all those years ago. She didn't trust banks or custodians, she said they were villains and crooks.
Do you know for some bizarre reason, the "Reply" button has been hidden lately for me on SubStack, but I know where it resides and I just click there and it seems to work, but that is kind of odd I think P&S.
Oh well - weird stuff happens sometimes - I'm used to it. You know about the Maple Leaf coin I'm speaking of don't you - it is a beauty. Here, let me find a link for the fun of it -
https://www.walmart.com/ip/2023-1-gram-Gold-Maple-Leafs-Maplegram25-In-Assay/2428809029?
Holy Crap - you can buy it at WalMart! (not sure if that link works...but maybe it will)
~
And by the way - you should check out my pee-wee story - it is getting interesting now.
BK
I happens to me too Ken on occasion, odd things do occur with tech, I just reboot - seems to clear most things.
Yes I know about that coin but have you checked the weight/price ratio? At present 1 gram is $65 on the market for pure 24crt:
https://www.bullionbypost.co.uk/gold-price/month/grams/USD/
See the other comment I just posted - I agree.
But, lets consider this - being one can purchase gold at WalMart, if this sort of thing catches on, don't you think that might inflate the price? If so, then maybe things will start balancing off a bit and speaking of balance - the gold-silver ratio is way out of whack based on historical data.
I call that 'hope investing' Ken - more speculation which I avoid but others find it fun like all gamblers.
Yes, you're bang on about the gold-silver ratio - it's been this way for as long as I can remember so i guess the past is no guide to the future in this case. i think something fundamentally changed long ago. There are so many variables it's hard to tell.
But I do think silver should be in your portfolio, Ken.
Anybody gone answer why Nevada and New Hampshire or do I need to look it up myself?
My guess is they have some State Constitutional provisions that legally allow for gold tender.
I support that.
I support any provisions any State chooses to utilize to assert independence from federal authority and the first and foremost federal authority to declare independence from is the ironically named Federal Reserve. They are neither "Federal" nor do they have "Reserve". All they own presently is debt.
All true Ken : "The Utah, Nevada, and New Hampshire Goldbacks are a world-first form of gold "paper" currency that can be used as legal tender. Because the Goldbacks were made with the intention to provide an alternative currency to the US Dollar, they are easy to store and visually stunning."
https://bullionexchanges.com/blog/2021-bullion-exchanges-goldbacks
Fascinating, thanks.
Hey P&S - I'm fixing to go over to Boom's place and raise some hell....
do you want to know why?
First ingredient to having influence in the minds of others it to engage with your readers and Boom has not done that.
So, I think I'll go over and say that direct - what you think?
Response made.
Lets see what happens next.
Good idea Ken - BOOM is - how do I say - self-effacing? Love to see the results! :-)
P&S,
Got a quick question for you - in his response, Gerry said as follows - I quote:
~
"Definitely no time for chit chat. Sorry. BOOM has many thousands of readers on multiple platforms for over 5 years. One major platform recently ceased publication so we started a Substack."
~
So, is "Gerry" BOOM, or is BOOM some sort of entity? Because he sort of spoke of it in 3rd Person as if it is above and beyond him (assuming "Gerry" is a he). Do you know? Now, I respect you, so I give BOOM heed, but I'd just assume know who the hell or what the hell BOOM actually is - my guess if in a corner is it is a bunch of central bankers with old ideas fixing to be proven wrong.
~
Pass the wine please - white wine.
I'll take a sip and pass it along.
To me to call a reader who takes the time to post - "chit-chat" sort of rubs me the wrong way.
BK
BOOM is Gerry's 'nom de plume' Ken; he is careful to stay under the radar because he deals with some pretty high level people. He is a medical doctor and really top economist and financial analysis. For links check at the end of my Letters. He is a very busy chap and we Skype regularly.
When I wrote the first draft of my manuscript, he picked it up in 2015 and I had to re-write the whole thing because what I was taught in economics at university in the 60s turned out to be all wrong. I had to re-learn everything I knew and finally published in 2018 - updated to edition 4 in 2020 before the Covid crap became well known.
Gerry has been an amazing tutor and friend to me but he is all business because we are in a very serious global upheaval known as 'The Fourth Turning'. https://www.theburningplatform.com/2023/05/09/rise-to-rebellion-a-fourth-turning-perspective/
He doesn't have time for chit-chat and will chastise commenters on his new Substack for wasting his time. I guess he will block comments in due course.
I am a keen gardener and survivalist being a lifelong yachtsman so I have incentive to find and help people to understand what is happening and how to deal with it - unlike Gerry. I am a trained counseller and this can be read about in Part 2 of my book's Introduction (16 pages) which will explain more.
https://www.researchgate.net/publication/358116877_THE_FINANCIAL_JIGSAW_-_PART_2_A5_Update_V1_-_2020
Hope this helps you to understand more about BOOM and our joint mission.
Blessings
AP
Thanks for your feedback and graciousness - if I comment again at BOOM's place, I'll be on topic.
Ken
You're a star Ken - we live with so many differing humans all with their own world map. Tolerance of others (up to a point if harm is invoked) then my forgiveness becomes somewhat stretched! I ask for guidance on this one every day! :-)
I got a response, so that was a successful fishing mission I reckon????
I don't know but time will tell.
Ken
This was my response to "Dr. Gerry" - aka BOOM???? - I quote:
~
"Fair enough. Welcome and I'll try to behave and maybe even subscribe, but you must know new ideas, or rather old ideas been stifled, those are ideas that might resonate so SubStack is probably a good place to expand your message - then if it is one that has merit it might catch on....if not, then so be it I reckon. If it is just a place to share old ideas then I doubt it will have much value for you or anybody else for that matter.
Regards,
BK"
~
I really can't stand pompous old farts
Stablecoin sounds like the worst possible option. It is like having one foot on the bank (dollar) and the other on the boat (crypto) when the boat is not securely moored to the bank. It is bound to fail as, whatever you think about crypto, it negates crypto's main advantage that it is totally independent of FIAT money.
True Greg but it is not actually independent of the US$ - it's tied to it, so as BOOM says it's just a proxy. Even Bitcoin is not independent - the Fed can kill it any time it wishes, but it suits them as a collaborator to the eurodollar.
That might be Boom's understanding, but it is not mine. Because the blockchain has no central server (it is peer-to-peer) it is independent, requiring no 'trusted party'. Therefore the Fed cannot kill it. However, I don't profess to be an expert in this.
It's beyond my pay grade Greg, but this might help to answer the other way round: https://www.investopedia.com/articles/investing/050715/can-bitcoin-kill-central-banks.asp
A good article thanks. It makes the point well that: "The potential culpability of a central bank in manufacturing and precipitating crises provided the seed for Bitcoin’s invention."
While central banks should be essential for any society, when they allow the sort of debt levels that we are experiencing currently, then they become a totally broken model. I dread to think what happens next.
I think collapse happens next Greg. I think CHS has the answer: http://charleshughsmith.blogspot.com/2022/05/what-happens-when-complexity-unravels.html
Yes, an excellent article by CHS. I've been through that, on a small scale, but when the total society reaches that point...!!!! Your future plan is a wise one, IMO.
You may also like to see how Venezuela got on with their CBDC lauched in 2021:https://bitkan.com/learn/what-is-the-currency-of-venezuela-digital-currency-of-venezuela-8955
Again this misses the basic point the "blockchain has no central server". CBDC is state controlled and is not independent of the state.
I don't know enough about Crypto to comment Greg - I leave this to BOOM's expertise. Why not comment direct on his site? i am sure your observations would be welcome: https://substack.com/profile/101018275-dr-gerry
I should so do but already struggle to read all I want.
Great banking and dollar history that we could all learn from. Also like the crypto world being explained in common terms that were understandable.
The excessive death rate is curious. First comes the open borders around the Western world to third world immigration. Then comes the vaccine and the excessive deaths. The immigrants are not forced to get the vaccines. The corporate and government controlled dismisses the replacement theory as a conspiracy theory..........
Consider the people streaming across the US southern border are America's natives.
I used to employ some of that cheap labor, they are only cheap in the start, then they begin to demand more and since they don't fully understand the culture, basically do what they want. Those who allow for such migration know this, so its not for greater profits.
They want to replace the culture.
LOL. I suspect the masters of all of this fuckery see them as cheap labor and greater profits, plus a few unmentionable other things.