The US banking industry is one enormous and enormously overrated professional check-kiting racket.
You have to hand it to them: we’d all have been emaciated and dead or wearing fishnets under a streetlight 15+ years ago if they weren’t making account maneuvers that would put me in jail.
You have the “I can save her!” crowd and then you have “well quite frankly I’m surprised she didn’t go tits up in 1986.”
Idk how many times I’ve given people the “oh yeah the whole house of cards is coming down in our lifetime for sure” talk but so much of that stuff goes in one ear and out the other when y’all are high af.
The dollar is still comatose, brain dead and on a ventilator but you almost have to admire the fight it still has in it to cling on to life.
A lot of what you see going on today is the fallout from institutions and institutional investors/opportunists who had bet on its demise, stood to gain a lot from its demise (i.e. Soros with Asian markets and the Bank of England in the 1980s) and expected it to have already bottomed out. In some cases they’re trying to “pull the plug on it” because they have a lot to lose from these “bets.” To go back to Soros as an example: He lost 2 billion in 1990s dollars trying (unsuccessfully) to do that to Russia. This one must have looked like a lock and had trillions of dollars riding on it.
I switched to a credit union this year and it’s weird being on a first-name basis with the guy who peers through everyone’s charges and calls them up asking if they made it or what it was for. The alternative was my “oops, we just casually lost a trillion dollars on bad commercial real estate deals” bank I’d been with for 25 years.
There are things you can do as a community: Like volunteering at the food pantry, hauling stuff from farm to market, or bringing boxes of t-shirts and goods from another town. Hell it’s like that here and the shit hasn’t even hit the fan yet.
My “digital branch” 2000 miles away isn’t going to help with that.
Daily reminder: Coins are issued by the US Treasury. Bills aren’t.
Don’t stuff federal reserve notes under the mattress.
Do keep your coins though.
I’m forecasting anywhere from a 1:100 to a 1:1500 valuation.
“Hurr durr hurr we can’t pay off the debt!”
Sure we can! In coins. For $1,500 on the dollar. 22 Billion. Easy.
That’s only 3/4 of the “money” we allocated for California to not build a commuter rail that doesn’t go anywhere!
If we’re ever in a position where the US Treasury won’t consider coins legal tender, it’s bad. So bad, the dollars aren’t going to help either.
Don’t have any of this “oh we’ll just print a trillion dollar coin” nonsense either. It’s totally getting smuggled to Europe on a plane in some communist traitor’s bra and you’re going to inflate the dollar away to nothing as well.
The ship has sailed away for punitively taxing “millionaires,” you’re all about to be “millionaires” in the same sense that I’m an Argentinian “millionaire.” You’ll be taxed at 50% just like Europe with a 14 billion dollar budgets for the redcoats and revenuers to come collect it from you at gunpoint, the actual 1% will pay nothing as usual, and you’ll need a wheelbarrow of cash to buy a shitty loaf of wonder bread.