The Economy, Post-Election

[Sneakers]

There have been a number of "experts" talking about gloom and doom regarding the economy after the election. Severe downturn in the stock market and investment programs, a 50% devaluing of the dollar... and telling everyone they should be buying crypto, gold/silver, and getting out of the US currency. My investor called yesterday to go over some options, and I took the opportunity to express my concerns about whether we actually have anything to be concerned about, and if we should be entertaining options to protect my investments. And strangely enough, my brother had asked him the very same thing a few days ago!

Anyway, my investor said he'd seen the "experts" videos, read their material, and he then said the best thing I had heard all week. He said they offer free material for the asking. They keep saying free throughout the lectures, until the very end. Then they start saying you need to purchase a recurring subscription to get all of the latest info and planning. And how do you get the subscription? Buy buying it. With crypto? or Silver or gold? Nope. Good ol' US dollars in the form of a credit card or check. The very thing he's accepting is the very thing he's telling you to get rid of.

I thought about it for all of a half second and busted out laughing.

Not making any changes or buying into the gloom and doom scenario.

 

[LightRoasted]

For your consideration ...

There have been a number of "experts" talking about gloom and doom regarding the economy after the election. Severe downturn in the stock market and investment programs, a 50% devaluing of the dollar... and telling everyone they should be buying crypto, gold/silver, and getting out of the US currency.

Well, gold is certainly reflecting the devaluation of the dollar now sitting at $2747 an ounce. Expect the dollar to continue to devalue with gold going higher.

Also, to grasp the manipulation of the markets, especially PM's, silver has a ratio of 408 paper silver ounces to 1 physical silver ounce. What do you think will happen to the price of silver when, if, people begin to start demanding delivery of that silver when there is not enough silver in the market to fill those orders? Currently, silver spot is $33.67. How this manipulation is allowed by the SEC boggles the mind.

And it really isn't doom and gloom. It is the inherent nature of a fiat debt-based monetary system. Absent eliminating the Federal Reserve, the dollar will continue its downward trajectory to be worth less and less and less, necessitating more dollars to acquire an ounce of gold/silver and any other items such as food. Plan accordingly.

 

[vraiblonde]

There have been a number of "experts" talking about gloom and doom regarding the economy after the election. Severe downturn in the stock market and investment programs, a 50% devaluing of the dollar... and telling everyone they should be buying crypto, gold/silver, and getting out of the US currency. My investor called yesterday to go over some options, and I took the opportunity to express my concerns about whether we actually have anything to be concerned about, and if we should be entertaining options to protect my investments. And strangely enough, my brother had asked him the very same thing a few days ago!

Anyway, my investor said he'd seen the "experts" videos, read their material, and he then said the best thing I had heard all week. He said they offer free material for the asking. They keep saying free throughout the lectures, until the very end. Then they start saying you need to purchase a recurring subscription to get all of the latest info and planning. And how do you get the subscription? Buy buying it. With crypto? or Silver or gold? Nope. Good ol' US dollars in the form of a credit card or check. The very thing he's accepting is the very thing he's telling you to get rid of.

I thought about it for all of a half second and busted out laughing.

Not making any changes or buying into the gloom and doom scenario.

Thank you! I keep hearing these shills going on about gold, silver, and crypto and there are enough of them that they made me think about it. And it doesn't make any sense for a number of reasons.

If you want to invest in something that will help you in a SHTF scenario, buy food and water. Learn how to get an electric grid working, and a cell tower. Invest in guns and ammo. Make friends with people who can do valuable things, not the party bros.

Here's something I don't understand, or maybe I do:

Gold and diamonds are considered valuable. But why? What do gold and diamonds bring to the table that makes them have value? The economists call this something that I can't remember - it's like perceived value, or imaginary value, or something like that. But they're a commodity that goes up and down in value for no apparent reason. You can't pay your bills with it, you can't put gas in your car and pay with a diamond chip. If there's no one who wants to buy the diamond, the diamond becomes worthless. Gold, same. *Why* is it valuable? Why aren't seashells valuable? Or dirt? Or cockroaches?

Crypto I never understood. One of my neighbors was a crypto scammer uh, I mean, representative and he tried to explain it to me until his head exploded under my barrage of questions and he gave up. You're buying money, that is somehow better than the money represented by a $20 bill? And crypto is represented by a piece of paper saying it has a certain value....no different than a $20 bill.



I am resistant to the bandwagon. A piece of advice that my step-dad told me that has served me well in life: if everyone is doing something, you do something else.

 

[LightRoasted]

For your consideration ...

Thank you! I keep hearing these shills going on about gold, silver, and crypto and there are enough of them that they made me think about it. And it doesn't make any sense for a number of reasons.

If you want to invest in something that will help you in a SHTF scenario, buy food and water. Learn how to get an electric grid working, and a cell tower. Invest in guns and ammo. Make friends with people who can do valuable things, not the party bros.

Here's something I don't understand, or maybe I do:

Gold and diamonds are considered valuable. But why? What do gold and diamonds bring to the table that makes them have value? The economists call this something that I can't remember - it's like perceived value, or imaginary value, or something like that. But they're a commodity that goes up and down in value for no apparent reason. You can't pay your bills with it, you can't put gas in your car and pay with a diamond chip. If there's no one who wants to buy the diamond, the diamond becomes worthless. Gold, same. *Why* is it valuable? Why aren't seashells valuable? Or dirt? Or cockroaches?

Crypto I never understood. One of my neighbors was a crypto scammer uh, I mean, representative and he tried to explain it to me until his head exploded under my barrage of questions and he gave up. You're buying money, that is somehow better than the money represented by a $20 bill? And crypto is represented by a piece of paper saying it has a certain value....no different than a $20 bill.



I am resistant to the bandwagon. A piece of advice that my step-dad told me that has served me well in life: if everyone is doing something, you do something else.

Gold/silver have been used as money for over 5000 years. (Diamonds have never been used as money. They get their value from intentionally created scarcity. Companies like DeBeers, are sitting on a massive supply that if they were to hit the market would plummet diamond prices to that of penny candy.)

What brings value to gold and silver is scarcity. It is scarcity, portability and durability, that give them value. Gold/silver take a massive amount of labor and energy to mine, then to refine into coins. When gold/silver were used as money, the value was pretty much fixed. People could be assured that the buying power would be the same over decades. Gold/silver coin money saved over the years would still have the same purchasing power.

Though not used as money today, in reality, gold/silver still have the same purchasing power when converted in currency. Buying and holding gold/silver maintains your purchasing power when currencies are inflated. It is an insurance policy that you have physical possession of. Buying an ounce of gold today at $2747 may seem crazy, but perhaps ten years from now that ounce will get you $3800, offsetting the higher prices of everything else priced in inflated dollars. Now you won't have to work longer and harder to come up with the difference of $1053 if you want to buy something.

People that do buy gold/silver do also buy and do the other things you mentioned. If there were a SHTF scenario, gold/silver can be used for barter, after all else one might have for trade has been used up.

The point being, that people, now, invest in things that hold, increase in, value, vis a fiat inflated currency, and that they have physical possession of to sell later if necessary to conduct business in fiat currency.

Crypto is a money laundering scheme, and a fools game. And it is in electronic bits. If power ever goes, so does crypto.

 

[Sneakers]

Gold and diamonds are considered valuable.

I've always believed that in a SHTF scenario, gold and silver will be pretty much worthless. They will want to be paid in things that people want, like food, water, ammo, fuel. Gold and silver aren't edible or life supporting. Think about every apocalypse movie you've ever seen. What are they scrounging and desperate for? Not precious metals. Except maybe lead. Lead will be more valuable than gold because you can make a battery from it.

 

[vraiblonde]

I've always believed that in a SHTF scenario, gold and silver will be pretty much worthless. They will want to be paid in things that people want, like food, water, ammo, fuel. Gold and silver aren't edible or life supporting. Think about every apocalypse movie you've ever seen. What are they scrounging and desperate for? Not precious metals. Except maybe lead. Lead will be more valuable than gold because you can make a battery from it.

Exactly.

 

[vraiblonde]

Crypto is a money laundering scheme, and a fools game. And it is in electronic bits. If power ever goes, so does crypto.

To me it's just another pyramid scheme. Get in first and get a bunch of people on your downline kicking up. I've tried to understand how it works and really that's all I've ever come up with.

 

[LightRoasted]

For your consideration ...

I've always believed that in a SHTF scenario, gold and silver will be pretty much worthless. They will want to be paid in things that people want, like food, water, ammo, fuel. Gold and silver aren't edible or life supporting. Think about every apocalypse movie you've ever seen. What are they scrounging and desperate for? Not precious metals. Except maybe lead. Lead will be more valuable than gold because you can make a battery from it.

Gold and silver will never be worthless, even in a SHTF scenario. A new monetary sytem is always close behind to replace the old once things settle, when it's a SHTF financial system failure, or a collapse of the current currency. It is then one can use their gold and silver to exchange for that new currency, (when a solid gold /silver peg has been clearly established), when it is needed and/or advantageous, rather than be at the mercy of the system where bank account holder losses might be paid at a 4 old dollars to 1 new dollar, or worse, ratio for the new replacement currency. People holding old dollars will not be made whole under a plethora of reasonable sounding excuses, or just because of government edict.

Even in a true SHTF scenario, people will still need to work in exchange for something of value. They will still need something of real value to trade for food or whatever. Pieces of paper with numbers on them most likely won't be accepted by anyone anymore. We are not talking about an end-of-life-as-we-know-it event. There will still be infrastructure, transportation, civilization, governments, and so on. SHTF scenarios are temporary in nature, and are not as portrayed in make believe movies. There may be anarchy, chaos, and disruptions for a while. When the rule of law is established once again, things settle back down. Holding gold and silver allows one to be prepared and profit when things are reestablished back to normal.

Even if there is a total electrical grid collapse, it is only temporary. It may take awhile to get it back up and running, but it will be restored. During this type kind of long term event, gold and silver will be invaluable for trade. People can only hold/carry so much food, water, ammo, fuel. Even then it is consumed on a daily basis. Can't trade food, water, fuel, or ammo, if you have consumed them. To reacquire those things, people will need something that is a known commodity with a known value.

And then, one must ask, and think upon this; Why are banks constantly acquiring and vaulting gold and silver, other than for market manipulations? Why are other countries constantly buying and increasing their holdings and vaulting gold and silver? Because they know gold and silver is real money. If it is good enough for them, why isn't it good for us? And, why is it stated in the US Constitution that "no State shall make Anything but gold and silver coin in payment of debt", if gold and silver are so worthless?

 

[GURPS]

 

[Kinnakeet]

There have been a number of "experts" talking about gloom and doom regarding the economy after the election. Severe downturn in the stock market and investment programs, a 50% devaluing of the dollar... and telling everyone they should be buying crypto, gold/silver, and getting out of the US currency. My investor called yesterday to go over some options, and I took the opportunity to express my concerns about whether we actually have anything to be concerned about, and if we should be entertaining options to protect my investments. And strangely enough, my brother had asked him the very same thing a few days ago!

Anyway, my investor said he'd seen the "experts" videos, read their material, and he then said the best thing I had heard all week. He said they offer free material for the asking. They keep saying free throughout the lectures, until the very end. Then they start saying you need to purchase a recurring subscription to get all of the latest info and planning. And how do you get the subscription? Buy buying it. With crypto? or Silver or gold? Nope. Good ol' US dollars in the form of a credit card or check. The very thing he's accepting is the very thing he's telling you to get rid of.

I thought about it for all of a half second and busted out laughing.

Not making any changes or buying into the gloom and doom scenario.

same here

 

[Kinnakeet]

For your consideration ...





Gold and silver will never be worthless, even in a SHTF scenario. A new monetary sytem is always close behind to replace the old once things settle, when it's a SHTF financial system failure, or a collapse of the current currency. It is then one can use their gold and silver to exchange for that new currency, (when a solid gold /silver peg has been clearly established), when it is needed and/or advantageous, rather than be at the mercy of the system where bank account holder losses might be paid at a 4 old dollars to 1 new dollar, or worse, ratio for the new replacement currency. People holding old dollars will not be made whole under a plethora of reasonable sounding excuses, or just because of government edict.

Even in a true SHTF scenario, people will still need to work in exchange for something of value. They will still need something of real value to trade for food or whatever. Pieces of paper with numbers on them most likely won't be accepted by anyone anymore. We are not talking about an end-of-life-as-we-know-it event. There will still be infrastructure, transportation, civilization, governments, and so on. SHTF scenarios are temporary in nature, and are not as portrayed in make believe movies. There may be anarchy, chaos, and disruptions for a while. When the rule of law is established once again, things settle back down. Holding gold and silver allows one to be prepared and profit when things are reestablished back to normal.

Even if there is a total electrical grid collapse, it is only temporary. It may take awhile to get it back up and running, but it will be restored. During this type kind of long term event, gold and silver will be invaluable for trade. People can only hold/carry so much food, water, ammo, fuel. Even then it is consumed on a daily basis. Can't trade food, water, fuel, or ammo, if you have consumed them. To reacquire those things, people will need something that is a known commodity with a known value.

And then, one must ask, and think upon this; Why are banks constantly acquiring and vaulting gold and silver, other than for market manipulations? Why are other countries constantly buying and increasing their holdings and vaulting gold and silver? Because they know gold and silver is real money. If it is good enough for them, why isn't it good for us? And, why is it stated in the US Constitution that "no State shall make Anything but gold and silver coin in payment of debt", if gold and silver are so worthless?

shtf ...food and other commodities will be worth more than gold IMO.

 

[Grumpy]

If(when) Trump wins. the economy booms, its because of the Biden regime..if its a bust, it's Trump's fault. Just like 9/11 was the result of Clinton but alot of people blame Bush. IMO,of course.

 

[LightRoasted]

For your consideration ...



Another thing about gold .... it is the best inflation barometer available. Gold is the garlic to the banker vampires. Banks hate gold because it always sheds light on the scam of fiat money creation. Creating a gold standard would destroy the Central Banks, yet would be beneficial for the people. Though most of gold's price increase is from central banks buying, not retail. BRICS has made it clear that all trading in currencies would be balanced by gold. So there is now a hidden gold standard in much of world trade. And that will only increase with time. They, (the banksters), all see the writing on the wall, and are scrambling to buy real money with their fake money. And why do the banksters continue to buy gold? The answer is that gold is still at the base of global monetary systems.

Bankers have a licence from government to legally counterfeit fiat money. Fiat is a danger to everyone, everywhere. The imposition of fiat currency, and the complete control of virtually every society today under a central banking regime, has been one of the greatest mass crimes in human history, if not the greatest. It is literally a destroyer of Nations. Fiat currencies are not money. They are not monetary anything. They're worthless fiat, fake, fraud, fiction, fantasy, vaporware nothingness.

It, (fiat currencies), facilitates oligarchs, it rewards the least productive, it provides for corrupt politicians, it drains natural resources. It supplies the cannons, and the fodder. It creates hopelessly dependent corporate citizens, it fuels authoritarians, it breeds unethical and immoral behavior. It's a system of slavery, it enriches the few at the expense of the many.

Gold ..... is real money. Absent necessity, hold your precious metals for the time AFTER the dollar's demise.


BTW. There is no gold in Fort Knox as it had been hypothecated to the bankers. And since the US is now over $35 Trillion in debt, you can bet that that gold is now sitting in the Federal Reserve international owner's vaults, not on this continent, never to be seen again. All for the price of printing paper with numbers on them, and those digital ones and zeros as well.

And don't forget . . . . . The "money" you are being paid with for the work you do, was created out of thin air by someone else.

 

[stgislander]

Not looking good for MD with Demonrat controlled everything.

Five-year state budget projection foresees 'enormous gap' not seen in two decades - Maryland Matters

State lawmakers will return to Annapolis in January facing a widening structural budget gap that analysts said is on track to become one of the worst fiscal situations in two decades.

marylandmatters.org

 

[Kyle]

Not looking good for MD with Demonrat controlled everything.

Five-year state budget projection foresees 'enormous gap' not seen in two decades - Maryland Matters

State lawmakers will return to Annapolis in January facing a widening structural budget gap that analysts said is on track to become one of the worst fiscal situations in two decades.

marylandmatters.org

When Hogan departed it was fine.

Not even a full term and the Gov and Annapolis have squandered it all.

 

[Hessian]

Not looking good for MD with Demonrat controlled everything.

Five-year state budget projection foresees 'enormous gap' not seen in two decades - Maryland Matters

State lawmakers will return to Annapolis in January facing a widening structural budget gap that analysts said is on track to become one of the worst fiscal situations in two decades.

marylandmatters.org

Gee, what a surprise. Fiscal responsibility is for little people who live pay check to paycheck....and have to fight to control their credit card debts. The morons in office have no problem spending money that they do not have any stake in...while believing they can tax the rich to cover all their vote-buying amusements of bread & circuses.

 

[stgislander]

Gee, what a surprise. Fiscal responsibility is for little people who live pay check to paycheck....and have to fight to control their credit card debts. The morons in office have no problem spending money that they do not have any stake in...while believing they can tax the rich to cover all their vote-buying amusements of bread & circuses.

The rich and corporations will vote with their feet.

 

[LightRoasted]

For your consideration ...



"Over the next five years, ongoing expenses in the state budget are projected to grow at 6% annually, while revenues are projected to grow at around half that amount, ..." Well golly jeepers would you look at that. Expense costs increasing faster than revenues. Kinda like increasing costs for everything affecting people with incomes that can't keep up, that must lower their expenses to afford the things they need.

Where as people can't extort more money from an employer to counter inflated prices due to the unnatural expansion of the money supply, aka monetary inflation, the State, as well as all the Counties, will extort more money from the people by way of many forms of "taxation" to maintain their spending, and associated payoffs to their supporters.

 

[stgislander]

We already knew about the funding shortfalls for Blueprint for MD's Future (Kirwan Report), and who is surprised about Medicaid. We keep adding people to the program.