Madison320
Member

Yeah the debt is doubling every 8 years and it'll keep doubling until the dollar breaks. It's 28 trillion right now. It'll easily hit 40 trillion by 2024. Then 60 trillion by 2028. The only thing stopping it is a dollar collapse. So would I be wrong if the debt hit 60 trillion by 2028 and we still didn't have a dollar collapse?

Yeah, but if the state went away there'd be no government protections for individuals or contracts or anything, so according to your logic none of them would exist without a state. Why single out corporations? For the record I'm a minarchist. Does that make me a statist?

A corporations isn't an individual, but it's owned by a group of individuals that have the same rights as any other individuals. I'm sure Ron Paul would agree. Do you think we should outlaw corporations since you said they are anti free market?

Thank you. I've been arguing with him about that a few times before and until now you're about the only one who's been on my side on this issue.

I agree, the banning fractional reserve banking used to be really popular.

Yeah, there's a whole bunch of reasons why governments want inflation, but they want to under report it.

It's only a broken clock if you don't understand the details. Did anybody think in 2008 that the total debt would be 28 trillion in 2021 and the Fed would have printed 8 trillion and we still didn't have a dollar crisis? I read a liberal article a couple weeks ago in the NY Times in support of Biden's massive spending plan. The writer said, "Critics of Obama's plan were saying the same thing back in 2009. They were wrong." Here's the problem with that logic. The underlying causes of price inflation are cumulative, just because we didn't get that much price inflation with 10-20 trillion in debt and 1-4 trillion in printed money doesn't mean we won't get it with 30-40 trillion in debt and 10 trillion in printed money. If Peter Schiff is wrong, and printing and borrowing doesn't cause prices to rise, then we can all go home and let the Fed send us checks. Meanwhile commodity prices continue to rise almost daily. It's getting "interesting". Don't forget Peter Schiff is a big fan of Ron Paul and their political and economic ideals are almost the same.

I own physical gold but most of my money is in my 401K and so I have to buy etfs and mining stocks if I want exposure to gold. Even physical gold had risk. Somebody could steal it, the govt could make it illegal to own, etc.

I feel a little better now because I'm pretty sure they were just taxing the dividends. I buy a lot of high dividend foreign stocks. I'm assuming the home countries are just taxing the dividends like we do here, only it's not tax deferred. At first I thought they were taxing the shares itself. If that was the case I'd be losing money just owning the shares. I am a little worried about foreign stocks being targeted by the US in the future though.

I thought Obama's first spending bill was higher but you're probably right. It's hard for me to tell when they pass bills, it sounded like they passed the 1.9 bill like 5 times already when you read the headlines. What's the difference between PSLV and SLV?

They'll try to blame it everyone else but I don't know if it'll work. It'll be whole different ballgame when you can't print and borrow.

M0 or monetary base which as far as I know is virtually the same as the Fed's balance sheet. I think M0 is the most important because it's the base that drives all the other money supply measurements.

March 27 of what year? We've had trillion plus spending bills since 2009 haven't we? :) Not sure your point (maybe we agree) but the I think we've borrowed about 20 trillion and printed 6 trillion when silver was $15 back around 2008. Since we increased the money supply by 7 times silver ought to be roughly $100 an ounce.

Another theory is that much of the money is held by foreigners, which is why we have such big trade deficits. We print money and exchange it for real products. So if we have hyper-inflation my guess is we'll have one big, gargantuan trade surplus as all that money held by foreigners is used by them to try to buy anything from us that's not nailed down. I always go back to simple examples when trying to understand economics. Suppose you have an isolated island where shells are used as currency. Now suppose there's a hurricane and a whole bunch of those shells wash ashore, doubling the number of shells used as currency, so they pass them out to everyone. Is everyone now twice as well off? No, prices are going to double. I think the ultimate driver of long term inflation is the monetary base which is basically the amount of shells. The base has gone from a little under a trillion to over 7 trillion in the last 12 years, so lets say 7 times. That means that all things being equal prices should rise by 7 times. Now I know someone is going to tell me that "all things are not equal" so before you say that, tell me what variable would REDUCE inflation permanently by 7 times, in the long run. Productivity? Ha! Ha! Demand? I would think demand for dollars can only go down since we're already the world's reserve currency. Pretty much everyone already accepts dollars and the fact that we're printing them like maniacs is only going to make countries abandon the dollar.

It'll be interesting to see what happens when stopping inflation is by far the number one issue that voters care about.

What can a senator do in this situation? I thought this was the governor's thing.

After reading all the criticism I was thinking that Cruz WAS the governor. I honestly didn't realize he was a senator. What can a senator do in this case?

Personally I'd rather have blackouts than a 10,000 bill. I can always buy a generator(although I'm too lazy to). That was a good explanation, thanks!

I just read an article on zerohedge about that. People whose bills normally were $200-300 were getting bills for $5,000-$10,000 for one month! I don't know if it's true but that sounds criminal. The problem is you can't say screw you to the power company, they'll cut your power off. Does energy always work that way? I think I read that some customers are on a "variable rate plan". Did they choose that? Are there fixed rate plans anywhere?

How would that collapse the markets? What I see happening over the last 20-30 years is the federal reserve and us govt borrowing and printing every time the markets start to weaken. And they're borrowing/printing bigger amounts over shorter periods of time. Eventually the dollar is going to cave and we're going to get really high price inflation, maybe even hyper inflation. I know that's going to happen but I don't know how long it's going to take and what happens next. I think the rise in silver is just another indicator that price inflation is coming. I think what's really going to mess things up is oil. When gas prices start hitting $5-10 a gallon I think the end is near.

Yeah, me too. I bought a bunch of oil stocks a couple months go. That's working out well so far.

That chapter should be required reading for people here. One of my all time favorites.

They'll sell the "diversity" BS, but it's always been publicity, modeling, and endorsements. Natalie Decker, Milka Duno, Maryeve Dufault, Inessa Tushkanova, etc. are (were) great for sponsorship. NASCAR needs a Danica replacement.

On a big city pavement Fast food everywhere Warm smell of the drumstick Rising up through the air Up ahead in the distance Was a big bucket sign I drew saliva at the drive up bay I had to get in the line

On a big city pavement Stop lights everywhere Warm smell of the drumstick Rising up through the air Up ahead in the distance Was a big bucket sign I drew saliva at the drive up bay I had to get in the line….

Entire text of Don Henley's congressional testimony is at this link: https://www.judiciary.senate.gov/imo/media/doc/Henley%20Testimony.pdf Henley testifies that he is "...indefinitely homebound by the Covid‐19 pandemic,..." and discusses "...the current ban on large social gatherings and the indefinite pause in live performances..." Instead of Henley being a government bootlicker, maybe the washed-up libtard should be using his weight to discuss the science showing so called "lockdowns" and masks don't work.