[AdamB]

The United States continues to get poorer but people are convinced they are getting richer because digits on a screen keep going higher. Are people this simple-minded? It seems the answer is yes. The US dollar is a clever way to rob people and get them to accept their poverty (like a casino but much, much worse).

So if you aren't being robbed by the US dollar because of your smartness, and have lost all your gold in a boating accident because apparently you suck as a sailor.....how are you paying for gasoline for your car or for food for your table? Sexual favors?

[noobtube]

So if you aren't being robbed by the US dollar because of your smartness, and have lost all your gold in a boating accident because apparently you suck as a sailor.....how are you paying for gasoline for your car or for food for your table? Sexual favors?

What happens when you no longer make anything people want to buy to earn an income?

You rely on savings.

What happens when you run out of savings?

You borrow.

What happens when you can not borrow?

You either sink into perpetual poverty, steal, or start wars. That is the United States today.

How do you convince the poor people to fight for a debt-ridden state and not revolt. You give them bread and circuses (casinos, celebrities, sports, TV/movies, lotteries, alcohol, drugs, and lots and lots of law enforcement).

And, I AM being robbed by the dullah. You can't escape the robbery.

Just like every other 'Murican, I have to borrow for my food and fuel using these dollar IOUs. The United States ran out of money in the 60s, and has been borrowing with the dollar ever since.

But, according to the typical utopian, this can last forever because of 'Murican exceptionalism...

Yes, I lost everything in that terrible event on the water. Now, I'm stuck using debt to survive. Hey, I fit right in with the typical bitcoin/stock market investor who think imaginary digits are "wealth."

[theluckycountry]

The United States continues to get poorer but people are convinced they are getting richer because digits on a screen keep going higher. Are people this simple-minded? It seems the answer is yes. The US dollar is a clever way to rob people and get them to accept their poverty (like a casino but much, much worse).

Exactly! It's as plain as the nose on our face but it seems the vast majority are happy to believe the lies rather than the hard truth and change accordingly. I started to transition to the new economy 17 years ago when Australia hit it's own peak-oil. It's been all downhill here since then but the debt and the statistical lies have covered it up. A 25 year-old girl I know who has a good paying job bought her mother a lawn mower on a buy now pay later plan. She didn't even have $400 in the bank, pathetic.

[AdamB]

So if you aren't being robbed by the US dollar because of your smartness, and have lost all your gold in a boating accident because apparently you suck as a sailor.....how are you paying for gasoline for your car or for food for your table? Sexual favors?

What happens when you no longer make anything people want to buy to earn an income?

That's not an answer to the question.

And, I AM being robbed by the dullah. You can't escape the robbery.

So for all your holier than thou whining you use dollars? Figures....you bitch all day long and at the end of the day are no different than anyone else. You don't even buy your own nonsense.

Just like every other 'Murican, I have to borrow for my food and fuel using these dollar IOUs.

I recommend you get a damn job then. Then you can pay for your stuff with earnings the way most folks do. I recommend staying away from sailing or the water, based on your history.

[AdamB]

A 25 year-old girl I know who has a good paying job bought her mother a lawn mower on a buy now pay later plan. She didn't even have $400 in the bank, pathetic.

Indeed.

A) Stop importing expensive lawn mowers for daughters to buy for mothers when she can ask you to bring some of your riding kangaroos over for grazing

B) Build cheaper domestic lawn mowers...oops...sorry...your country might not be able to, lawnmowers are hard

C) Improve your education system so 25 year old girls with good paying jobs can do what my 25 year old daughter did with her good paying job did a year ago....which was buy a house.

[noobtube]

Exactly! It's as plain as the nose on our face but it seems the vast majority are happy to believe the lies rather than the hard truth and change accordingly. I started to transition to the new economy 17 years ago when Australia hit it's own peak-oil.

For me, it was 14 years ago.

It's been all downhill here since then but the debt and the statistical lies have covered it up. A 25 year-old girl I know who has a good paying job bought her mother a lawn mower on a buy now pay later plan. She didn't even have $400 in the bank, pathetic.

Wow.

So for all your holier than thou whining you use dollars? Figures....you bitch all day long and at the end of the day are no different than anyone else. You don't even buy your own nonsense.

I'm going to let you in on a little secret. The dollar is backed by the threat of violence from the US military. I don't think too many people would be using the dollar without the threat of violence.

You may not know this, but most of the world despises being forced to use dollar IOUs.

But, you seem to enjoy your free ride on the rest of the world with your made-up dollars.

I recommend you get a damn job then. Then you can pay for your stuff with earnings the way most folks do. I recommend staying away from sailing or the water, based on your history.

Wait. I thought you liked freeloaders. Isn't it your right to get a free ride off of billions of people all around the world by giving them worthless dollars. But, yet, you are telling me to get a job. So which is it?

Why can't I be a freeloader just like you? Or are you more "Exceptionalist" than I am?

Or, are you saying I should get a job that dumps dollar IOUs on the rest of the world for free stuff like you?

If only I could get a "good" job that allows me to freeload with my dollar IOUs, like all the athletes, entertainers, celebrities, politicians, lawyers, and tech CEOs. Why, oh why, am I stuck cleaning toilets and sweeping floors. Why did I go on that boat? Missed my chance at the American Dream of being a super parasite, freeloading, deadbeat. But, I can still dream. After all, there are still lots of lottery tickets to buy. And, more casinos are opening every day. So, I still have a chance to be just like you!

[ralfy]

Also, I think U.S. conventional oil production peaked in 1970, real wages peaked after 1973, trade deficits started to become chronic in 1976, and total debt started to rise considerably in 1982.

[AdamB]

I recommend you get a damn job then. Then you can pay for your stuff with earnings the way most folks do. I recommend staying away from sailing or the water, based on your history.

Wait. I thought you liked freeloaders.

You apparently don't think very well. Or accurately. If you can actually quote me saying "I like freeloaders!" I would love to see it. Doesn't sound like me unless I was being sarcastic or something. But please, feel free to reference my quote to demonstrate I claimed such a thing and we can discuss the nuance of my comment.

Isn't it your right to get a free ride off of billions of people all around the world by giving them worthless dollars.

I have no such right. So who are you making believe I am now, an entire country or something? And for the fiscally uninformed, I used a couple of those worthless dollars this very day to buy a nice lunch for the family at the beach. Ergo...they sure aren't worthless! And since you've got no gold left, I recommend you get a job to get some dollars yourself so you don't have to go into debt.

But, yet, you are telling me to get a job. So which is it?

Because you said you were living on debt. So get a job already. Borrowing isn't a sound financial strategy, of course, neither is storing gold on your boat, but to each their own.

Why can't I be a freeloader just like you? Or are you more "Exceptionalist" than I am?

I have a job. Feel free to freeload as long as your credit card holds out I suppose. But you might not like where it ends.

Why, oh why, am I stuck cleaning toilets and sweeping floors.

So you do have a job!! Excellent. Now stop buying food on credit and stop whining about where your lack of seamanship landed you. Sheesh....why all this pretend nonsense that you didn't have a job? Now go back to cleaning toilets and sweeping floors and decide if you have what it takes to better yourself, otherwise stop whining about your lot in life if you aren't willing to do something about it.

[AdamB]

Also, I think U.S. conventional oil production peaked in 1970, real wages peaked after 1973, trade deficits started to become chronic in 1976, and total debt started to rise considerably in 1982.

Good thing the US is exceptional then, and went on to peak almost half a century later making ex-LATOCians look like the father figure seeking religious groupies just as Matt himself said they were.

[theluckycountry]

For me, it was 14 years ago.

Well you had a good head-start too then. Some of the things I believed in never panned out, like a big housing reset in the late 2000's. Or a collapse of the economy with $200 oil prices, but that didn't effect my lifestyle or prosperity. I never went into debt on rental properties which a lot of my peers had done, some of whom lost them and their ppor due to the cross collateralized home loans here. So I didn't make an extra few hundred-K but in down scaling my lifestyle and avoiding debt I still prospered just fine. I'm very grateful those earlier predictions never came to pass either because it's given us another decade to consolidate things. Those of us who could see the writing on the wall that is.

I'm going to let you in on a little secret "Adam". The dollar is backed by the threat of violence from the US military. I don't think too many people would be using the dollar without the threat of violence.

Yes well that threat is wearing a little thin now isn't it. The loss of Saudi Arabia was a big milestone for the US regime, the arabs are firmly in the Russian camp now, as are most of the other big resource producers in the world. This BRICS meeting in August will be a game changer I'll wager. A lot of other countries will come out of the woodwork and join, they were just waiting for someone to stand up to the bully and all the US meddling is going to came home to roost.

When Russia abandoned the USSR and the social welfare net collapsed it was terrible for the people, but since there was still a strong state, the most egregious consequences like civil disorder were avoided. Millions of old people starved and crime took off for a while but it's not so bad there now. Compare that to what will happen in the US! In the Great Depression it was terrible, millions were jobless, hundreds of thousands homeless, but even the ones that died of starvation did it quietly under a tree somewhere.

It won't be like that this time though, the $US will go down the toilet taking standards of living permanently with it and government promises of a bright future will be ignored out of hand. With the divisions in society there now, the gangs and the general crime, it will literally be a hellscape and anyone with any means best live in an armed gated estate because the hungry will be out for all they can get. That's how it is in SA today.

South Africa
https://www.ooba.co.za/resources/gated-communities/

[theluckycountry]

India ties up with UAE to settle trade in rupees

NEW DELHI, July 15 (Reuters) - India has signed an agreement with the United Arab Emirates that will allow it to settle trade in rupees instead of dollars, boosting India's efforts to cut transaction costs by eliminating dollar conversions.

India, the world's third biggest oil importer and consumer and whose central bank last year announced a framework for settling global trade in rupees, currently pays for UAE oil in dollars.

Bilateral trade between the two countries was $84.5 billion in the year from April 2022 to March 2023

https://www.reuters.com/world/india-tie ... 023-07-15/

"Transaction costs" That is the profit made by the US when it's currency is used in world trade. It has been a prop under the US economy ever since the end of WWII.

What this means for the Indians and the Arabs is freedom and security, what it means for America is that $US 84 Billion is not needed now and will come home and roost in the US economy, causing inflation. Yes, it's not all digital slight of hand from start to finish, bank vaults across the world are stuffed with paper currency and bonds and the US share offshore is declining rapidly.

This is precisely the sort of behavior that led to the invasion of Iraq and the ousting of Saddam Hussein.

A bizarre political statement by Saddam Hussein has earned Iraq a windfall of hundreds of million of euros. In October 2000 Iraq insisted on dumping the US dollar - 'the currency of the enemy' - for the more multilateral euro.

https://www.theguardian.com/business/20 ... aq.theeuro

There never was any WMD, just a threat to the $US as the world's reserve currency.

How Much U.S. Currency is Held Overseas?
https://www.bullionstar.com/blogs/jp-ko ... -overseas/

[theluckycountry]

Well this was predictable.

A trillion dollars in three months

For those keeping tabs, the US added $1 trillion in debt in three (3) months. pic.twitter.com/9eJVnX1YnZ

The Fed's rate hikes have made the interest on servicing the debt costly, sending the United States into a debt spiral. For context, federal debt was $30.7 trillion last year, with a $400 billion annual interest expense. One year later, it is $33 trillion, and the interest expense is $970B and growing.

Is there any way out? Politicians can cut spending to the bone and raise taxes dramatically, but as we know, such actions would end their political careers. In fact, Congress can't even pass a bill to keep the government open. A shutdown is becoming likelier with each passing day. The fiscal situation is officially out of control.

https://www.zerohedge.com/news/2023-09- ... ree-months

I have pointed out before that a large chunk of the US federal debt is created simply to pay interest on old debt. That is never stated though, instead the government says there is an emergency, always an emergency, and it must borrow 2T for covid relief or 3T for solving the GFC. But behind the scenes this money, which is thrown into a general slush fund, is also used to pay the loan interest. It's like getting a new CC to pay off the interest on your old CC. But a trillion a year on top of all the other Federal expenses they can't afford?

Something big is on the cards boys and girls, some form of cover story to explain away the collapse of social services which must come when this money can no longer be simply printed up and mysteriously sold off. Private pension funds could be drawn into this mess? A major war declared (Britain did that in WWI to cover it's ass) Anything could happen but something WILL happen. No government simply holds up its hands and says "My bad".

Russia did a similar thing I believe when it collapsed the USSR. They used that as a cover to reset the system, renege on all the pensions and other soviet era freebees the Russian people enjoyed. Now it's the USSA's turn.

[careinke]

Well this was predictable.

A trillion dollars in three months

For those keeping tabs, the US added $1 trillion in debt in three (3) months. pic.twitter.com/9eJVnX1YnZ

The Fed's rate hikes have made the interest on servicing the debt costly, sending the United States into a debt spiral. For context, federal debt was $30.7 trillion last year, with a $400 billion annual interest expense. One year later, it is $33 trillion, and the interest expense is $970B and growing.

Is there any way out? Politicians can cut spending to the bone and raise taxes dramatically, but as we know, such actions would end their political careers. In fact, Congress can't even pass a bill to keep the government open. A shutdown is becoming likelier with each passing day. The fiscal situation is officially out of control.

https://www.zerohedge.com/news/2023-09- ... ree-months

I have pointed out before that a large chunk of the US federal debt is created simply to pay interest on old debt. That is never stated though, instead the government says there is an emergency, always an emergency, and it must borrow 2T for covid relief or 3T for solving the GFC. But behind the scenes this money, which is thrown into a general slush fund, is also used to pay the loan interest. It's like getting a new CC to pay off the interest on your old CC. But a trillion a year on top of all the other Federal expenses they can't afford?

Something big is on the cards boys and girls, some form of cover story to explain away the collapse of social services which must come when this money can no longer be simply printed up and mysteriously sold off. Private pension funds could be drawn into this mess? A major war declared (Britain did that in WWI to cover it's ass) Anything could happen but something WILL happen. No government simply holds up its hands and says "My bad".

Russia did a similar thing I believe when it collapsed the USSR. They used that as a cover to reset the system, renege on all the pensions and other soviet era freebees the Russian people enjoyed. Now it's the USSA's turn.

The FED is a dead man walking. BTC will fix the current FIAT disaster.

Prior to BTC, Gold was the best option to counter individual countries FIAT currencies. Gold is relatively scarce, requires energy (work) to produce, is easy to verify its authenticity, it is a well known store of value, and most importantly is well diversified so no one nation can control all of it. Unfortunately, it is not that divisible, or mobile across borders, and moves slowly requiring expensive protections to ensure it's safety.

BTC carries all the good properties of Gold. BTC is also infinitely divisible, cannot be corrupted, moves across all borders, never requires KYC, any transaction can occur between two or more consenting parties with no limits, and all transactions can be traced since BTCs implementation.

BTC has never been hacked and will never be hacked. Its blockchain has never been offline or crashed for any reason.

BTC is perfect money. LOTS of trillion dollar companies are aware of this and getting onboard quickly. I'm aggressively increasing my position because I do not believe I'll get such an opportunity again. We are very early in this transition.

If by some magic, all 21 million BTC were evenly spread out among just the current millionaires worldwide, each millionaire would get .375 BTC. At current prices you can buy .375 BTC for less than ten grand U.$. If the 21 million BTC were evenly spread over the entire world's population, each person would get .002625 BTC which equals about 70 bucks per person at todays selling price.

Of course this will never happen. Michael Saylor alone personally holds over 17,500 BTC and will never sell them. Satoshi Nakamoto owns between 750,000 - 1,100,000 BTC that in all probability will never be up for sale. Add Black Rock, Fidelity, Tesla, MicroStrategy into the mix and there are probably less than 14 million BTC still in play.

Some of us believe we have already found an alternative to the U.S. Dollar. We are just waiting for the rest of the world to catch up. For me the risk/reward ratio is so skewed in my direction it would be foolish not to buy some.

For those who have expressed an interest in learning about money, I suggest the Podcast "What is Money?" Show by Robert Breedlove. His show runs daily and over the last week or so' he has been posting interviews of himself by other BTC gurus. It's quite interesting because he has just recently arrived at his gestalt of money and particularly BTCs role in money. His interviewers asked great questions.

PEACE

[theluckycountry]

BC is far too volatile to ever replace currency, in the beginning it functioned as currency but now it's simply part of the wall street casino, people don't buy and sell with it, they just hodl it. Unfortunately when it fell from the high of 60k odd it left in its wake hundreds of thousands who had bought in on CC and other leverage. many of them went bankrupt waiting for the rebound that never came, others are just holding on, paying interest on the loans they took out to buy BC.

[theluckycountry]

31 Countries to Participate in the Russian Currency Market

Among them are Brazil, India, China, South Africa, Türkiye, Iran, Qatar, United Arab Emirates, Cuba and Venezuela. On Thursday, Prime Minister Mikhail Mishustin signed a provision so that banks and brokers from 31 countries can participate in the Russian foreign exchange and financial derivatives markets.

The Russian government provision also covers countries such as Serbia, Türkiye, Iran, Qatar, Pakistan, United Arab Emirates, Morocco, Malaysia, Cuba and Venezuela. The decision is part of the rules adopted in July, which seek to increase the efficiency of the mechanism for direct conversion of currencies of friendly and neutral countries, as well as to enhance the formation of direct quotes of the ruble to satisfy the demand for settlements in national currency.

https://stuartbramhall.wordpress.com/20 ... cy-market/

When the shtf the West will be lumbered with vaults full of worthless $US, which will find their way back to the US and buy anything that isn't nailed down. Citizens of the US will suffer under rabid inflation. Meanwhile for the rest of the world under the BRICS it will be business as usual, each trading in a sound currency, Russian or Chinese, currencies that aren't backed by massive debts.

If you live in the west Gold and Silver may be your only option. Two metals with high industrial and monetary value. After all even the Western central banks hold large Gold reserves, they know its value. Needless to say they hodl zero Bitcon. Bitcon and other crapto currencies are the preserve of little people, a sort of virtual money, fun to play with, like a video game. The millennials made them popular because millennials are renown for frittering away their money. They spend it on iphones, smashed avocado sandwiches and $350 earbuds. Crapto was a natural for them, a techno wizz with a cool meme behind it.

[theluckycountry]

The US Just Added $600 Billion In Debt In One Month
https://twitter.com/zerohedge/status/17 ... 9840062716

Interesting isn't it. Like as in How much of that is for interest on the 33T outstanding? This ponzi scheme is really in trouble with the higher rates.

I read there was a massacre in Maine too? It marks country’s 565th mass shooting in 2023, NGO reports. That's so sad, I hope everyone is ok. [/virtue-signal]

[theluckycountry]

US To Borrow $1.5 Trillion In Debt This & Next Quarter, After Borrowing A Massive $1 Trillion Last Quarter
https://www.zerohedge.com/markets/us-bo ... st-quarter

You're running out of time! Get your money safe if you have any.

[careinke]

US To Borrow $1.5 Trillion In Debt This & Next Quarter, After Borrowing A Massive $1 Trillion Last Quarter
https://www.zerohedge.com/markets/us-bo ... st-quarter

You're running out of time! Get your money safe if you have any.

Hey it looks like gold has broken the $2,000 resistance and is probably setting a new higher low. For psychological reasons $1,000 levels are always significant resistance levels. I expect it to raise much higher as the dollar dies. After all, it is the second best money. Just keep it yourself, and NOT as "paper gold."

The best money, has also set a new higher low around $34,000. It has risen 27% in the last 30 days, next stop $42K.

Peace

[careinke]

US To Borrow $1.5 Trillion In Debt This & Next Quarter, After Borrowing A Massive $1 Trillion Last Quarter
https://www.zerohedge.com/markets/us-bo ... st-quarter

You're running out of time! Get your money safe if you have any.

Dang I thought gold had broken through the psychological $2K level but noooo, it's still a resistance level and not a support.

BTC, the perfect money, is 10 months into a three year rocket ride and beating all other Fiat currencies I'm aware of. To paraphrase Lucky, GET OUT OF FIAT NOW!

Economic Troubles? You can fix that with Bitcoin.

Peace

[theluckycountry]

Has the Dollar Struck the BRICS Iceberg?

As of this writing, US dollar reserves have fallen by 6.5% as foreign central banks cut ties with the currency. The BRICS countries, especially those in the global South, are leading the charge to depart from the decades-long dominance of the American currency. China and Japan’s central bank shares show the most significant rise in central banks. Interestingly, the Euro is just slightly behind in losing a share in the world currency market.

If BRICS stops using the USD, there will likely be a financial disaster in the United States, with hyperinflation wreaking havoc across all sectors in the US. However, losing the dollar as the medium of exchange worldwide is not the most significant danger for the American hegemony. Collaboration and stronger ties between the BRICS and emerging nations are essential. Xn Iraki, an associate professor in the Faculty of Business and Management Sciences of the University of Nairobi, offered this via China Daily:

“BRICS is at a watershed in terms of global economic organisations, with less-developed countries now having access to technology from more advanced ones and having an opportunity to diversify their exports and gain access to new sources of funding.” ...The BRICS account for 37% of the world’s GDP, while the G7 only squeaked out 30%. With the UAE, Saudi Arabia, and Iran joining the group, oil production on Earth will be firmly in the hands of BRICS members. US government data shows BRICS’ share of global oil production blossoming from 19% to 41% after the recent expansion.

https://www.zerohedge.com/news/2023-12- ... cs-iceberg