Economic crises are not aberrations

[Plater1]

It's not a question of if. It's a question of when.

9 Terrifying Truths About Long-Term Economic Crises<!-- --> | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[tirwin1]

And the only thing certain is the more the government intervenes to avoid a crisis the larger the ultimate reckoning will be.

I thought the nation's economy would collapse back when the national debt hit $20 trillion. I was wrong. Here we are at $40 trillion and I am simply astonished things just keep chugging along.

Where is the breaking point? $50 trillion? $100 trillion? No one seems to know but I guarantee you that when the crisis comes there will be no shortage of "experts" who claim they all knew. It will be all bullshit.

 

[Plater1]

And the only thing certain is the more the government intervenes to avoid a crisis the larger the ultimate reckoning will be.

I thought the nation's economy would collapse back when the national debt hit $20 trillion. I was wrong. Here we are at $40 trillion and I am simply astonished things just keep chugging along.

Where is the breaking point? $50 trillion? $100 trillion? No one seems to know but I guarantee you that when the crisis comes there will be no shortage of "experts" who claim they all knew. It will be all bullshit.

I think the answer lies in trust. You can go nearly anywhere in the world and buy nearly anything with a USA $100 bill. Our economy is kept afloat because we have trust in our paper money and the rest of the world believes that too. As long as the rest of the world keeps debasing their money the US dollar will be trusted and used. That being said, of course there is a breaking point. That will not be a good day. Tuesday October 29, 1929 (Black Tuesday) is a good example. A lot of wealthy people unalived themselves that day. It will be bad here. It will be much worse everywhere else.

 

[Drinkthekoolaid]

Sooner....or later..... These will come true.

We've had too many politicians, for too long, make bad choices where they were willing to whore out our economic best interests in the attempt to retain power.

We will deserve what comes because we didn't do a good enough job holding these self serving politicians accountable, we got the government we as a country deserve, and we will get all that comes with it.

We don't have enough people in power who put duty, integrity and a desire to do the right thing for the country above their own interests.

 

[holdover]

We will deserve what comes because we didn't do a good enough job holding these self serving politicians accountable, we got the government we as a country deserve, and we will get all that comes with it.

couldnt disagree more. its a corrupt system . the game has always been rigged . the politicians are on the take , there's nothing you or I could have done differently the powers that be, own both sides , they cant lose, and we cant win . One big dog and pony show to let people think that they have some kind of say. you do, 2 sides of the same coin

 

[Zerex]

List of recessions in the United States - Wikipedia

en.wikipedia.org

We have had well over 50 major finaincial crisies and recessions in the USA since its founding.

Regular business cycles.

The scam is always to get the litttle investors wealth, like the current push for "little pople" to own gold.

 

[holdover]

The scam is always to get the litttle investors wealth, like the current push for "little pople" to own gold.

yeah, like central banks lol.

take a good at the gold price today $ 4100, Ill say that again, because I feel it bears repeating. $4100 per ounce.
now look at the price in 1970. $35 bucks , its been on an upward trajectory since 1970 when dollar was removed from gold standard

 

[Zerex]

Buy buy buy gold?.......................when it come to a recession it will be very hard to sell it except at a huge discount....little people screwed again by design..like the dozens of sports betting apps now on line to bankrupt the little guy fast.

Co Pilot:

How Sports Betting Apps Can Lead to Bankruptcy for Casual Bettors​

Multiple studies, attorney reports, and case studies show that mobile sports betting can rapidly escalate casual wagers into tens of thousands of dollars in debt, with some users filing for bankruptcy within months Bettors Insider+2.



Take 1 oz to your local supermarket gas station in a crisis. They will give you 1% on the dollar.

Coin dealers will close their doors.

 

[Plater1]

Buy buy buy gold?.......................when it come to a recession it will be very hard to sell it except at a huge discount....little people screwed again by design..like the dozens of sports betting apps now on line to bankrupt the little guy fast.

Co Pilot:

How Sports Betting Apps Can Lead to Bankruptcy for Casual Bettors​

Multiple studies, attorney reports, and case studies show that mobile sports betting can rapidly escalate casual wagers into tens of thousands of dollars in debt, with some users filing for bankruptcy within months Bettors Insider+2.



Take 1 oz to your local supermarket gas station in a crisis. They will give you 1% on the dollar.

Coin dealers will close their doors.

I would use Silver coins at the gas station or supermarket. Gold coins will hold value over the long term. In the 1980's i used to read American Survival Guide magazine. There were ads every month for dealers selling gold at $300/oz . Now that gold is $4,200/oz . It's a good store of value like property.

 

[Zerex]

The average "stop and rob" clerk knows no difference between gold, silver and paper .........credit cards only.

Trying to sell gold in a crisis at par, is like trying to sell a shovel full of manure or body parts.

Banks may buy it at 40% and hand you paper.

 

[Plater1]

The average "stop and rob" clerk knows no difference between gold, silver and paper .........credit cards only.

Trying to sell gold in a crisis at par, is like trying to sell a shovel full of manure or body parts.

Banks may buy it at 40% and hand you paper.

When that day comes, the public will learn very quickly what has worth(Gold & Silver) and what is worthless (paper and plastic). Nobody with two brain cells to rub together will trade Gold for paper. This has happened many times thru history. It's going on in several countries right now. In reality when that day comes you probably wont trade a gold coin for a bucket of Potatoes. Barter will more than likely be the most common form of commerce.

 

[Zerex]

Gold was confiscated and paper money issued.

!933 gold confiscation
In April 1933, President Franklin D. Roosevelt issued Executive Order 6102, banning private hoarding of gold coins, bullion, and certificates. Citizens had to deliver their gold to the Federal Reserve at the fixed official price of $20.67 per ounce c

When It Became Legal to Buy Gold Again in the U.S.​

Private ownership of gold in the United States was re‑legalized on December 31, 1974, after being prohibited for 41 years under President Franklin D. Roosevelt’s Executive Order 6102 of April 5, 1933 inflationprotection.net+1.

 

[Defilade]

Gold was confiscated and paper money issued.

!933 gold confiscation
In April 1933, President Franklin D. Roosevelt issued Executive Order 6102, banning private hoarding of gold coins, bullion, and certificates. Citizens had to deliver their gold to the Federal Reserve at the fixed official price of $20.67 per ounce c

When It Became Legal to Buy Gold Again in the U.S.​

Private ownership of gold in the United States was re‑legalized on December 31, 1974, after being prohibited for 41 years under President Franklin D. Roosevelt’s Executive Order 6102 of April 5, 1933 inflationprotection.net+1.

That shit won't fly today. The stone age is over.

Real money shall return. Fiat is dead!

20 STATES JUST MADE A BIG MOVE TOWARD GOLD & SILVER


View attachment hOCZrNGkpqPfAU63.mp4

 

[Defilade]

Look at the bond market. No one is buying and countries are selling. China has reduced their bond exposure to 6%. China is exiting all together. Japan is going to get out of US Bonds. We require someone to buy our debt and if not that could be the catalyst that breaks everything. The EU, Canada, and countries that adopted communism dressed up as socialism will fall the hardest.

 

[Defilade]

Central Banks are buying Gold like there is no tomorrow and there is a good reason for that. When central banks become net buyers for 15 years straight, you should pay attention.

 

[Plater1]

Gold was confiscated and paper money issued.

!933 gold confiscation
In April 1933, President Franklin D. Roosevelt issued Executive Order 6102, banning private hoarding of gold coins, bullion, and certificates. Citizens had to deliver their gold to the Federal Reserve at the fixed official price of $20.67 per ounce c

When It Became Legal to Buy Gold Again in the U.S.​

Private ownership of gold in the United States was re‑legalized on December 31, 1974, after being prohibited for 41 years under President Franklin D. Roosevelt’s Executive Order 6102 of April 5, 1933 inflationprotection.net+1.

Ok, a couple of points here. 1, yes this did happen. But, slavery and prohibition happened too. Does this mean it's going to happen again? It's doubtful any of those things are coming back. 2, from what i've read about that period the gov't did confiscate Gold, but it was nearly all from the very wealthy, large corporations, and from primarily, the banks. The gov't did not (for the most part) go to peoples homes and take their Gold. This also happened years before with Silver too. Although it wasn't confiscation, it's was just legislated away.
If you don't want to invest in metals, you are free not too. But for a few thousand years that's been a good idea. As for me, i will continue to do so.

 

[Plater1]

That shit won't fly today. The stone age is over.

Real money shall return. Fiat is dead!

20 STATES JUST MADE A BIG MOVE TOWARD GOLD & SILVER


View attachment 288884

Do you know this "Asian guy" is 100% AI?

 

[Zerex]

The crash of 1929 caused distrust of paper money and people were bartering gold and silver, undermining Roosevelts recovery..................

The distrust of paper money today rivals that of 1933. Gold was just $20 oz back then. How are you going to get a fill up, or buy groceries, with a $4,000 oz gold coin?

 

[Plater1]

The crash of 1929 caused distrust of paper money and people were bartering gold and silver, undermining Roosevelts recovery..................

The distrust of paper money today rivals that of 1933. Gold was just $20 oz back then. How are you going to get a fill up, or buy groceries, with a $4,000 oz gold coin?

Easy, use a Silver coin. Gold coins are there to hold value. Silver coins are there for everyday commerce. Yes, Gold was $20/oz back then, but an average house was only a few thousand. Inflation has happened a lot in the past 150 years.

 

[spat]

List of recessions in the United States - Wikipedia

en.wikipedia.org

We have had well over 50 major finaincial crisies and recessions in the USA since its founding.

Regular business cycles.

The scam is always to get the litttle investors wealth, like the current push for "little pople" to own gold.

The rich don't get rich when the economy is doing well.

They get rich during the crashes. When everyone else is forced to sell cheap just to keep the lights on, the rich buy at a discount.

The only reason we *have* good times is to setup the next crash for them.

 

[MothMan]

My crypto currencies have "slowly" increased since 2021.

 

[tirwin1]

The rich don't get rich when the economy is doing well.

They get rich during the crashes. When everyone else is forced to sell cheap just to keep the lights on, the rich buy at a discount.

The only reason we *have* good times is to setup the next crash for them.

Yes they don't panic. Oddly enough one of the best demonstrations of that (and a great explanation of the purpose of a bank) comes from the movie "It's a wonderful life" with Jimmy Stewart. The scene where he confronts the bank's depositors when there is a run on the bank is excellent. You can probably catch that scene on YouTube.