[Outcast_Searcher]

$this->bbcode_second_pass_quote('careinke', '
')Gold has basically kept up with inflation at todays prices. The S&P, if it just kept up with inflation would be at $588.53. Congrats!

I bought Bitcoin at $400.00 in 2014 with the cumulative inflation rate being 23.6% my BTC would be $494.48. Right now BTC is $19,953.00 and rising. I win!!!

Seems the real loser is the US dollar...

Peace

[careinke]

$this->bbcode_second_pass_quote('Outcast_Searcher', '')$this->bbcode_second_pass_quote('careinke', '
')Gold has basically kept up with inflation at todays prices. The S&P, if it just kept up with inflation would be at $588.53. Congrats!

I bought Bitcoin at $400.00 in 2014 with the cumulative inflation rate being 23.6% my BTC would be $494.48. Right now BTC is $19,953.00 and rising. I win!!!

Seems the real loser is the US dollar...

Peace

[theluckycountry]

Gold is a hedge, one that belongs in any thinking persons portfolio. It rarely goes to the moon like bitcoin did, like many useless IT stocks did in 1999, but when the dust settles it's always still there, still ahead of inflation. Even during the 1930's after the gold hoarding act was passed and you were only allowed to own 8 ounces it held up. In fact it went up 50% while everything else collapsed in a deflation that lasted until after WWII.

Those 8 ounces btw were never policed. A smart investor, who kept their cash at home and not in an institution may have had 300 ounces and no one would know. I'm sure a lot of people survived the Great Depression quite well by selling a couple of those ounces periodically. Interestingly no one was ever charged under the Hoarding act. The government didn't care about a few rabbits that escaped the hutch because they had the vast majority. All the trusting souls that kept their gold in the system.

So the question one really needs to ask is this. "Is there possibly another massive collapse on the horizon?" Something similar to the Great Depression where all but one asset class tanked? If not then gold investment would be unnecessary.

[AdamB]

$this->bbcode_second_pass_quote('theluckycountry', 'G')old is a hedge, one that belongs in any thinking persons portfolio. It rarely goes to the moon like bitcoin did, like many useless IT stocks did in 1999, but when the dust settles it's always still there, still ahead of inflation.

[Plantagenet]

Silvergate Bank, which dealt in crypto currency, is the latest crypto business closing its doors and going out of business.

silvergate-capital-wind-down-ops-liquidate-bank

They claim to have enough capital to fully reimburse every one of their depositors.

Of course they all say that. FTX was saying that right up to the day they shut they doors and admitted billions were missing.

And now Silvergate bank says they don't have enough money to continue operation, but somehow they are fully capitalized and can reimburse all their depositors?

I want to see how that works out for them.


Bye bye Silvergate bank. Hope none of your executives wind up being indicted like SBF did.....

Cheers!

[theluckycountry]

I see that Singapore just added 30% to it's gold holdings, 44 metric tons. Singapore is a total success story that puts all the other Asian nations to shame and I doubt it's making a mistake doing this.

Every time there is a big reset of the world's reserve currency the nations always go back to Gold for the interim period. Soon the $US will lose that status, all the offshore dollars will flood back home, probably causing hyper inflation, and the world will once again go to a gold backed balance of trade system. The simple fact that the paper markets have lost all touch with reality tells me this is getting closer. Gold is certainly a good asset to hold at any time, but especially at times like this.

[AdamB]

$this->bbcode_second_pass_quote('theluckycountry', 'E')very time there is a big reset of the world's reserve currency the nations always go back to Gold for the interim period. Soon the $US will lose that status, all the offshore dollars will flood back home, probably causing hyper inflation, and the world will once again go to a gold backed balance of trade system.

[Plantagenet]

As I predicted when I started this thread, insolvency and contagion are now starting to spread through the banking sector, starting with banks who focus on crypto and tech companies. We just had an important regional bank, The Silicon Valley Bank (SVB) fail and be taken over by the federal government as tech companies are now faltering and laying off thousands of employees.

This in turn has led to runs on the bank at several other banks with exposure to the tech sector and to the bubble in real estate.

contagion-spreading-broader-banking-system

We'll just have to wait and see if this turns into another crisis that destabilizes the entire US banking sector.....but so far the signs aren't good.

Given the huge amount of federal government deficit spending we we've plunged into over the last two years thanks to the incompetence of the Biden administration and their minions in the D party, we've now got inflation going up, which in turn is driving interest rates up. Biden's new budget proposal would add ANOTHER trillion dollars to the debt to go along with the trillions in new debt he's racked up over the last years. All the debt produces inflation which makes it very difficult for the FED to come to the rescue if the US has another banking crisis----right now the fed is focused on RAISING interest rates. in an attempt to slow Biden's inflation. Simultaneously we've got the HUGE deficits in federal government spending which are now to the point that annual interest payments on the federal debt are now approaching 800 billion dollars a year. Obviously thats just wasted money, which is what Joe Biden does best.

The stage is now set for a total Biden @#$%#-up of the US economy, just as Obama predicted when his elderly former VP Joe Biden became president. Personally, I'm looking for more banks to fail as the economy slows more and contagion spreads farther within the US banking system.


Why is this senile old geezer in charge of the country? Couldn't the Ds find anyone better to nominate? At least they should get a better VP for 2024...how about Fetterman....Fetterman's got plenty of time now that he's living down at the insane asylum. IMHO Fetterman would be the ideal VP for Joe Biden in 2024. Camela need some time off anyway to keep an eye on her husband, who was last seen smooching with Jill Biden.

Cheers!

[theluckycountry]

Ooops! Bitcoin is back under $20k. Collapsing along with the rest of the crypto complex and along with the broader stock markets. Are the shiny digital coins a paper asset, well they sure behave like one, like any other Wall Street manipulated asset class.

[AdamB]

$this->bbcode_second_pass_quote('Plantagenet', '
')[i]Why is this senile old geezer in charge of the country?

[Plantagenet]

$this->bbcode_second_pass_quote('theluckycountry', 'O')oops! Bitcoin is back under $20k. Collapsing along with the rest of the crypto complex and along with the broader stock markets. Are the shiny digital coins a paper asset, well they sure behave like one, like any other Wall Street manipulated asset class.

[theluckycountry]

$this->bbcode_second_pass_quote('Plantagenet', '
')
When the bubble gets popped, everything starts to deflate.

$this->bbcode_second_pass_quote('theluckycountry', '[')img]https://img-9gag-fun.9cache.com/photo/anzyX0E_700b.jpg[/img]

[AdamB]

$this->bbcode_second_pass_quote('theluckycountry', 'B')ut just to set the record straight, not everything is deflating. There is one asset that is the inverse of all the paper. It's doing fine.

[Plantagenet]

$this->bbcode_second_pass_quote('AdamB', '.')...the same cereal box that ....scientifically accurate?

[Plantagenet]

After the failure of Silicon Valley Bank, contagion is spreading to other regional banks.

The next bank most people think is likely to fail is the First Republic bank...its stock price has already gone into free fall.

first-republic-leads-regional-bank-rout-as-silicon-valley-bank-crisis-raises-fears-about-bond-losses

The problem these banks are facing is that they invested their depositors' money in US government bonds......but now that Joe Biden's policies have triggered off inflation and the FED has raised interest rates to try to ameliorate inflation, the face value of these bonds has fallen dramatically. If there is a run on the bank, and the bank has to sell its bonds to pay off the depositors, they will only get back a fraction of the money they put into the bonds......leaving them short of the money needed to cover withdrawals. Once that happens they have no alternative but to shut their doors and declare themselves insolvent.

Of course this is the sort of thing that bank regulators are supposed to watch out for and then take steps to prevent this from happening, but since the Biden administration is incompetent there seems to have been minimal regulatory oversight of these smaller banks and several more of them appear to be at risk of going bankrupt. No doubt now the Biden people are going over multiple US bank's financial statements to see what other banks are at risk of being wiped out as a consequence of Biden's inflation and the resultant Fed interest hikes.


Thanks to Biden's inflation and the FED's concomitant increases in interest rates, the bonds that US banks buy have lost a big part of their value, and the US banking system now looks like a house of cards....

Cheers!

[AdamB]

$this->bbcode_second_pass_quote('Plantagenet', '
')Your ignorance is showing again.
Your suggestion that cereal boxes are the place to go to get scientifically accurate information makes zero sense.

[Plantagenet]

$this->bbcode_second_pass_quote('AdamB', '
')Your suggestion that you post scientifically accurate information makes zero sense.

[theluckycountry]

$this->bbcode_second_pass_quote('Plantagenet', '')$this->bbcode_second_pass_quote('AdamB', '
')Your suggestion that you post scientifically accurate information makes zero sense.

[Plantagenet]

"Pearls before Swine" is a traditional saying that is based on something Jesus is quoted as saying in the bible.

Jesus said: "Give not that which is holy unto the dogs, neither cast ye your pearls before swine, lest they trample them under their feet

In the folk saying "Pearls before Swine" the reference to "swine" (i.e. pigs) is used as a metaphor for ignorant people who have no comprehension of what they are hearing.

It seemed quite appropriate in the context I used it above.

Cheers!

[Peak_Yeast]

Re: Bidens budget increased by 30%

To be fair that is probably just keeping a status quo in real purchasing power - perhaps even less depending on the nature of your expenses. Copper is up 50-100% depending on the exact timing for example. Timber, gypsum and many others more or less the same.