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222

(post is archived)

[–] • 6 pts

Nothing really new here except some specific calculations of the net worth of us assets which is kind of interesting. But basically it's just saying the US Reserve currency is going to fail because the government's printing too much and the only reason it hasn't happened to already is some of the other nations are dependent on it that they haven't figured out a way out of it yet.

That's something that's so commonly known now that it's almost no need to say it again.

[–] • 0 pt (edited )

The US has a pretty great track record on what happened to the last few people that decided to try to not use the dollar as a reserve currency, as is the subject of many memes. "can't afford its military" does a fuckload of good when they're in your face. The traditionally method of affording one's military was to pay them the spoils of war. Of course that requires engaging if profitable war. Not that I approve of this mode of operation.

The thing I see with the dollar right now is, sure you don't trust the US government, but who do you trust better? The smart money tells me China is on the brink of economic collapse. Eurofucks? They're not any better disciplined than the Fed, and they have a lot less to back it up.

I guess if you're arguing for a global economic collapse you could say all fiat currency is going to become trash. I'm not sure that's ever happened. The Great Depression was bad enough times but short of a collapse of the entire world economy.

[–] • 5 pts

This is not how budgets work. I don't know what this hamplanet is up to but it's not in anyway calling out (((the government))) or the (((money printers))). I explained this in the last thread about this fat fuck. Why do people care what this low-IQ ham has to say? He's irrelevant.

[–] • 0 pt

You can tell us it's incorrect and mock, but you don't know what's correct or you would have said that as well.

[–] • 2 pts

Meanwhile, me; in your quote of me:

I explained this in the last thread about this fat fuck.

Go search faggot.

[–] • 0 pt

I keep on agreeing with you.

[–] • 4 pts

This guy is the living breathing definition of all talk no walk. I don't listen to anything he says.

[–] • 1 pt

no walk

nigga can barely get out of his chair

[–] • 1 pt

I haven't really kept track after the first few times he said retarded shit and it didn't pan out but at the moment I believe he's claimed and not delivered on at least two major things:

  • Documents about Cuntlery that could put her in jail
  • Hard, red handed proof of election fraud that could not be ignored
[–] [deleted] • 2 pts

The issue in any economic collapse / currency devaluation / debt write off, etc. is "Who has ownership of the assets?" Who gets to the machinery, the inventory, the properties, the houses, etc. If Americans and westerners in general let the elites and central bankers take our assets, then we're all screwed.

[–] • 0 pt

Some of the cryptos are re-mapping land ownership. Most are a joke, but I wonder if one could get mass adoption and take over.

[–] • 2 pts

It's a bleak but very real assessment and after what the U.S. Govt. did to him he must be snickering.

[–] • 1 pt

If the dollar devalues to a penny, then the $700,000 owed devalues to $7000. It doesn't matter because we are not repaying the $7000 dollars either.

Lock in your paper wealth by converting it into real tradable assets.

Income producing businesses are some of the very best real assets, especially those that produce real tradeable goods, or provide necessary services. Good or bad economy, the plumbers are never unemployed. There is no such thing as an electrician who cannot find work.

If you can make your own energy, and you can use 3D printers to make more 3D printers, you have access to unlimited real wealth at your fingertips. With that you don't actually need a lot of money anymore.

[–] • 1 pt

especially those that produce real tradeable goods

The "finance" economies are having a rather hard time punishing the "goods" economies atm so good advice. America has nothing real to offer anymore as a country so the laughable idea that they can lock out China and Russia from world trade is somewhat hilarious.

If you have something that people need (not want) then you will always do fine, if you put yourself in a position of only having things that people want (but don't really need) you are totally hosed.

[–] • 1 pt

https://en.wikipedia.org/wiki/Normalcy_bias

Normalcy bias, or normality bias, is a cognitive bias which leads people to disbelieve or minimize threat warnings.[1] Consequently, individuals underestimate the likelihood of a disaster, when it might affect them, and its potential adverse effects.[2] The normalcy bias causes many people to not adequately prepare for natural disasters, market crashes, and calamities caused by human error. About 70% of people reportedly display normalcy bias during a disaster.[3]

The normalcy bias can manifest in response to warnings about disasters and actual catastrophes. Such disasters include market crashes, motor vehicle accidents, natural disasters like a tsunami, and war.

Normalcy bias has also been called analysis paralysis, the ostrich effect,[4] and by first responders, the negative panic.[5] The opposite of normalcy bias is overreaction, or worst-case scenario bias,[6][7] in which small deviations from normality are dealt with as signals of an impending catastrophe.

[–] • 1 pt

I am proud to be a part of the 30% as are 90% of the lads on this site.

Those other 10% can starve to death for all I care.

[–] • 1 pt

Great - what can we do with this information? Kill ourselves now? Saving money won't matter if the money's worthless.

[–] • 0 pt (edited )

Refer to post, concentrate on getting a supply of stuff that other people need. Not want but need.

edit: make that

[–] [deleted] • 0 pt

The current US debt is about $30 TRILLION, not $90. So he gets an easily verifiable fact wrong. What else does he get wrong?

https://usdebtclock.org/ https://fred.stlouisfed.org/series/GFDEBTN

[–] • 1 pt

Look at the debt clock link you posted. 'Total US Debt' is pegged at 91 trillion, which is the wording used in the OP.

[–] [deleted] • 0 pt

Good point. Total debt on that site is referencing all federal, state, local, business, financial, and household debt. I assumed KDC was talking about Federal Debt, which is where the real problem lies. Either way, a dollar collapse is inevitable, but the question is, "How will Americans handle it?" Currencies come and go, but the underlying assets, goods, and services remain. They currency may become worthless, but the assets don't vanish.

[–] • 1 pt

The crisis isn't caused because the collapse of the dollar makes assets worthless. The crisis comes when people realize that the valuation placed on those assets was incorrect. The adjustment in valuation is what causes the crisis. All of the financials built on the old valuations collapse.

[–] • 1 pt

"How will Americans handle it?"

Probably the same way Venezuela did, or basically any other country that has gone through a currency collapse: By moving to a more stable currency.

Usually that's pretty difficult due to logistics and (((banks))) but it should be significantly easier today to do than in the past due to crypto. Love or hate it, it will be significantly easier to offload into crypto than ti will to something like the physical silver, the yuan or whatever hasn't crashed when the USD blows up. And you can hate it and just do a pass through if that's what you really want but I'd suggest everyone here at least figure out a plan to do it when the time comes, because wasting time will mean you get less <whatever> for your shitty USDs.