Global Depression 2022 - Time to do the Breadline Boogaloo!

[Kujo Jotaro]

Its not about propping up the USD or not, its about the fact that all reserve currencies succumb to decay eventually due to human nature. The elites are not just aware of this, they are active participants in the cycle.

The Great Reset is fundamentally about money, and how power and technology interact with the concept of value in our society. In a nutshell, the rulers of our world have both recognized and signaled the transition from one cycle to the next. I think it is incredibly important to sit up and take note: they are telegraphing what comes next to those willing to listen.

If you're inferring a cbdc my question is how do they transition to it? The current trajectory of the USD is collapse, with a heaping helping of hyperinflation. Normies aren't redpilled on the fiat ponzi scheme now, but post hyperinflation they sure as fuck will be. The inherent issues are obvious, and for those too ignorant to put the pieces together there will no doubt be people singing the swan song of fiat ponzi once it all comes tumbling down. Why would normies who for the most part can't be bothered to learn even the basics of crypto leap at the opportunity to join another ponzi scheme that's only differentiating feature is that its digital? China and russia aren't going to accept our fake digital currency either.

If they try to transition before the usd collapses the same issues with normies arise, except now they're wondering why they need to transition to a different currency when they can already transact in dollars digitally. The whole corona nonsense has put a lot of people on edge, maybe you live in europe and you're completley doom pilled because you live amongst a bunch or cucks, but in the states that's not the case. I find it highly unlikely they'd be able to pull off a switcheroo of that magnitude, people are already getting tired of the corona bullshit to go and fuck with their money on top of it would not be wise.

 

[Hippopatumus]

I am very unclear on what the next global reserve currency looks like, but there are some clear indicators:
- Will be digital. We aren't going backward.
- Will require multi-national acceptance / participation. Global trade isn't going away.
- Will need to reflect existing value structures. Stakeholders will not accept a complete reset of their accumulated wealth.
- Will need to be ready for deployment at the time it is needed. Which means whatever is next probably already exists.

So yeah that looks a lot like some sort of CBDC, perhaps mediated by the BIS / IMF via SDRs at the international level. It seems like once there is universal agreement that the dollar is on its way out, there will be some sort of coordinated action to transition to the new system before a total collapse occurs. Most important will be selling the masses on some sort of recast / revaluation of their present net worth. The writing on the wall of hyperinflation is likely to be a powerful motivator for people to accept and even promote adoption before time runs out.

We are probably looking at a Bretton Woods 2.0 in the near future.

 

[Raoul_Duke]

I am very unclear on what the next global reserve currency looks like, but there are some clear indicators:
- Will be digital. We aren't going backward.
- Will require multi-national acceptance / participation. Global trade isn't going away.
- Will need to reflect existing value structures. Stakeholders will not accept a complete reset of their accumulated wealth.
- Will need to be ready for deployment at the time it is needed. Which means whatever is next probably already exists.

So yeah that looks a lot like some sort of CBDC, perhaps mediated by the BIS / IMF via SDRs at the international level. It seems like once there is universal agreement that the dollar is on its way out, there will be some sort of coordinated action to transition to the new system before a total collapse occurs. Most important will be selling the masses on some sort of recast / revaluation of their present net worth. The writing on the wall of hyperinflation is likely to be a powerful motivator for people to accept and even promote adoption before time runs out.

We are probably looking at a Bretton Woods 2.0 in the near future.

You're awfully optimistic, for better or for worse.

 

[Hippopatumus]

You're awfully optimistic, for better or for worse.

I am an optimistic person, however the scenarios I am describing will mean a significant decrease in standard of living, at least in the united states.

 

[contradiction of terns]

I know nobody asked me, but here is an article about the global push towards CBDC.

US leads China in 'digital currency space race,' crypto exec says

“In the long term, the absence of U.S. leadership and standards setting can have geopolitical consequences, especially if China maintains its first-mover advantage in the development of CBDCs," Atlantic Council researchers wrote.

While Circle has come out against the launch of a centrally-managed CBDC — which differ from stablecoins because they are privately issued — the company has supported the Biden administration’s proposal to regulate stablecoin issuers as banks, viewing the move as a step forward for the industry.

“We think this represents significant progress in the growth of this industry,” Allaire previously told Yahoo Finance. “There's a real recognition that as these payment stablecoins grow, they could grow at internet scale relatively quickly."

Flagship financial institutions are also bracing for regulation and the potential for institutional use.

Bank of America (BAC) sees developments in the regulatory sphere around stablecoins as a good thing for payment companies, recently identifying Mastercard (MA), Signature (SBNY), Visa (V) and Western Union (WU) as potential beneficiaries.

“We expect regulatory clarity to increase stablecoin use as a viable means of payment, likely driving retail adoption,” Bank of America global research analysts wrote in a recent note.

“Stablecoin regulation is a significant first step toward a comprehensive regulatory framework that encompasses the digital asset ecosystem,” BofA said. “We view a comprehensive regulatory framework as a catalyst to mass adoption of digital assets.”

 

[Bobbyshumurdasghost]

All this talk of silver makes me want to pose the question,

I've never bought any myself and am curious in doing so but where can i get the purest form of silver? for years i've seen boomer targetedd advertisements of limited run coins that are so very "valuable" but i wanna grab a regular bar or two, nothing more and nothing less.

Outside of that it would just be hanging onto it as likely it has a good store of value.

 

[Kujo Jotaro]

I am very unclear on what the next global reserve currency looks like, but there are some clear indicators:
- Will be digital. We aren't going backward.
- Will require multi-national acceptance / participation. Global trade isn't going away.
- Will need to reflect existing value structures. Stakeholders will not accept a complete reset of their accumulated wealth.
- Will need to be ready for deployment at the time it is needed. Which means whatever is next probably already exists.

So yeah that looks a lot like some sort of CBDC, perhaps mediated by the BIS / IMF via SDRs at the international level. It seems like once there is universal agreement that the dollar is on its way out, there will be some sort of coordinated action to transition to the new system before a total collapse occurs. Most important will be selling the masses on some sort of recast / revaluation of their present net worth. The writing on the wall of hyperinflation is likely to be a powerful motivator for people to accept and even promote adoption before time runs out.

We are probably looking at a Bretton Woods 2.0 in the near future.

I'd write a long winded response but I think we view reality at a fundamentally different level when it comes to this topic. I have no doubt there are politicians/elites who have wet dreams about what you imply, but the amount of central power and control that would need to exist is simply(at least in my mind) not feasible, and if possible would quickly deteriorate into power struggles between egos or nations. A deal like Bretton woods can only come about during a moment of incredible power imbalance, you would be smart to note what U.S. ally from WW2 was not present in that deal. Not to mention the fact that hyperinflation is an issue of mass hysteria as much as it is a numbers issue, psychologically no one would want the feds numbers on a digital ledger, they'll want something tangible, but again not gonna write a long winded post. (also major players in the current ponzi are privy to its end, they've been securing assets that have value outside of the inflated system, IE bill gates buying up huge swaths of land, and almost assuredly they have stacks of pm's that would make your average PMG nerd's mind melt .)

 

[Zbk3VmLfujjzjxBd43tL]

All this talk of silver makes me want to pose the question,

I've never bought any myself and am curious in doing so but where can i get the purest form of silver? for years i've seen boomer targetedd advertisements of limited run coins that are so very "valuable" but i wanna grab a regular bar or two, nothing more and nothing less.

Outside of that it would just be hanging onto it as likely it has a good store of value.

/pmg/ on /biz/ has some decent links, but "purest form of silver" isn't really recommended. Unironically you should go scream at Null for another silver fundraiser since his .9999 CWC coin is the purest thing of silver I ever owned (purer than the .999 stuff I lost in the lake even).

Reason being is that people and governments counterfeit silver (and gold). A bar is the easiest thing to counterfeit, although many are legit and you can check around in your city for a good precious metal/coin store which will often have equipment to scan the thing in front of you. The bullion coins governments issue don't have this problem (except maybe shit like the Chinese coins, why would you trust China to export you their PM?) nearly as bad since they're more difficult to counterfeit so just buy from a reputable dealer. The "safest" is "junk silver" like the pre-1964 quarter and half dollar which is extremely hard to counterfeit since you have to get the wear on it just right. Junk silver IIRC is often very cheap per ounce of silver too, and you can get a huge bag worth like $100 in face value at a good price.

Overall you're probably safe from counterfeiting so long as you stay away from anything Chinese and only trust reputable websites (or the better coin stores in your area).

 

[Hippopatumus]

Don't listen to that guy just order one of these: https://www.apmex.com/product/51412/1-kilo-silver-bar-apmex-stackable

They are plenty authentic.

I'm not a silver guy but they are freaking sweet to hold in your hand. Makes a great desk paperweight.

 

[Sped Xing]

Reminder that the US constitution only allows the government to mint currency in silver or gold. the current US dollar is illegal under Constitutional law.
Under the law (in the constitution and other federal law) A US dollar consists of 371.25 grains of Silver or .77 oz. Gold Eagles were Adjusted to be Equivalent to the silver dollar (a $10 dollar gold eagle would have enough gold to be equal to 10 silver dollars or 7.7 oz). when the value of gold would fluctuate Congress would pass a new law changing the content of the gold to reflect that. they did that several times. The old coins would be reminted with they new alloy for free or be weighed differently if not.

the US Bimetallic standard was VERY stable until congress stopped doing its part and used their own lack of action as an excuse to end the system. The last remains of the Gold/silver standard ending in 1971, and guess what happened? the nation went to shit. its all been down hill since then.
take a look

View attachment 2793817
View attachment 2793818
When the Federal reserve not collapses and confidence in the United states currency goes away what choice will the government have but a physically backed Dollar?

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility

That's the only mention of gold, and note that it's a list of powers denied to states. Since the Federal government is certainly empowered go enter into treaties, hire privateers, and make money, it's not reasonable to assume this paragraph denies the Federal Reserve the right to print fiat currency.

 

[Justa Grata Honoria]

Since i am in a doomer mood someone explained far better than my rantings here about resources limits and limits to growth
Please do not open unless suicidal or homicidal or both . Recommended reading with bottle of vodka and xanax since pregnant can't do anything except regretting opening the damn post and reading it in full . Side note i am slav janitor with high school diploma and the stuff i post read have nothing with my intelect stat and everything with my wisdom star/ gut feeling wheither or not it makes sense . So far i haven't been wrong . I wish i am wrong so badly this year .

Our fossil fuel energy predicament, including why the correct story is rarely told

The article explains why the energy story told by main street media is biased, to make the situation appear like a "too much fossil fuel energy" story and a voluntary moving away from fossil fuels. The real, physics based story is that the economy is likely on the edge of collapse. We are seeing...

ourfiniteworld.com

Is it possible that the world is approaching end times?

Nearly everyone assumes that the world economy can continue to grow for many, many years into the future. The physics of the situation indicates that this is not true, however. We are now in a situation where there is not enough inexpensive-to-extract energy for the economy to continue to grow...

ourfiniteworld.com

Surplus Energy Economics

The home of the SEEDS economic model - Tim Morgan

surplusenergyeconomics.wordpress.com

If you really want to go blackout drunk and never wake up finish with this where it shows the real inflation before all the massages apply on your run of the mill CPI

Shadow Government Statistics - Home Page

www.shadowstats.com

God help us all

 

[Zbk3VmLfujjzjxBd43tL]

Don't listen to that guy just order one of these: https://www.apmex.com/product/51412/1-kilo-silver-bar-apmex-stackable

They are plenty authentic.

I'm not a silver guy but they are freaking sweet to hold in your hand. Makes a great desk paperweight.

I'll agree with you there, they definitely are nice to hold and pretty to look at. They're also among the cheapest per ounce. But I think it's reasonable to be worried some asshole somewhere along the line fucked with it (there's a lot of ways to reduce the value of a block of silver after all). And worst of all, it would be harder to use in practice. Junk silver and bullion coins (your country's bullion coins at least) are all legal currency. If hyperinflation hits and people are lugging around wheelbarrows of Benjamins to buy a Big Mac, then I can put down an old quarter or two and get the same thing since that's currency people can trust.

Granted, you better fucking hope you never need to use your silver like that, just like how gunning down thugs is always fun until you actually have to do it and then you end up like Kyle Rittenhouse.

 

[Only A Retard Sometimes]

All this talk of silver makes me want to pose the question,

I've never bought any myself and am curious in doing so but where can i get the purest form of silver? for years i've seen boomer targetedd advertisements of limited run coins that are so very "valuable" but i wanna grab a regular bar or two, nothing more and nothing less.

Outside of that it would just be hanging onto it as likely it has a good store of value.

Most silver coins in production now a .999 fine silver. this includes US silver Eagles, UK Britannia and Krugerrand. the purest coin for sale right not is the Canadian Silver Maple leaf with is .9999 fine silver. its the 2nd most popular coin. the most popular is the American silver eagle. it costs a few dollars more than the 1 oz coins because of its popularity but it generally retains that premium because it sells so well.

 

[Only A Retard Sometimes]

That's the only mention of gold, and note that it's a list of powers denied to states. Since the Federal government is certainly empowered go enter into treaties, hire privateers, and make money, it's not reasonable to assume this paragraph denies the Federal Reserve the right to print fiat currency.

doesn't that imply that they are only authorized to make money with silver and gold?

 

[Sped Xing]

doesn't that imply that they are only authorized to make money with silver and gold?

States, not the Federal government.

There's seperate paragraphs saying the feds can't create titles of nobility and so on. Nothing saying they must use silver or gold to pay debts.

 

[mindlessobserver]

ITT people realizing our financial system is not run by the government.

The Constitution has no bearing on the US Dollar as the US Dollar is not issued by the US government. It is a marker of interest in the Private Bank known as the Federal Reserve. Which is as Federal as Federal Express. The only authority the US Government has over it is the appointment of its board and requiring government agencies to accept its bonds for taxes.

Now you would think that this would make it an agent of the government, but to the shock of nobody the courts disagree. You have as much right to oversee what the Federal Reserve Bank does as you do what Coca Cola does.

This needs to be rammed through everyone's skulls. The US dollar is not a national currency. It's a private note, issued by a private bank, that is in theory insured by the faith and credit of the US government. But since the 1970s, the US government stopped backing the value of the Dollar. It's not backed by anything now.

Get out of the US dollar. Not one iota of my savings is in USD and none of your savings should be in it either. The US dollar is nothing more then worthless paper issued by a private bank, backed by nothing and running on inertia alone. If you are holding that nonsense you are a fool.

 

[Sped Xing]

Get out of the US dollar. Not one iota of my savings is in USD and none of your savings should be in it either. The US dollar is nothing more then worthless paper issued by a private bank, backed by nothing and running on inertia alone. If you are holding that nonsense you are a fool.

Joke's on you, I have no money.

 

[contradiction of terns]

Gigantic Corporate Debts Could Pin the Fed in an Inflation Trap

I thought this part was interesting:

Zombie Outbreak: Then there's the risk for zombie firms, nicknamed because they don't have enough cash flow to service their debt payments. At the height of the pandemic there were 772 publicly traded zombies on the Russell 3000, according Bloomberg data. That has come down a bit to 621, but it's still 100 more firms that can't bear a rate hike than before the pandemic — certainly enough for a financial sector spinoff of The Walking Dead.

 

[Walrus and Carpenter]

ITT people realizing our financial system is not run by the government.

The Constitution has no bearing on the US Dollar as the US Dollar is not issued by the US government. It is a marker of interest in the Private Bank known as the Federal Reserve. Which is as Federal as Federal Express. The only authority the US Government has over it is the appointment of its board and requiring government agencies to accept its bonds for taxes.

Now you would think that this would make it an agent of the government, but to the shock of nobody the courts disagree. You have as much right to oversee what the Federal Reserve Bank does as you do what Coca Cola does.

This needs to be rammed through everyone's skulls. The US dollar is not a national currency. It's a private note, issued by a private bank, that is in theory insured by the faith and credit of the US government. But since the 1970s, the US government stopped backing the value of the Dollar. It's not backed by anything now.

Get out of the US dollar. Not one iota of my savings is in USD and none of your savings should be in it either. The US dollar is nothing more then worthless paper issued by a private bank, backed by nothing and running on inertia alone. If you are holding that nonsense you are a fool.

The US government could still issue United States Notes independent of the Federal Reserve but for some reason chooses not to. Some of the last United States Notes were $2 bills from the series of 1963, red seals rather than the green of Federal Reserve Notes, something happened in 1963 that made all of our paper money since be issued by the federal reserve.

 

[Autistic Joe]

Gigantic Corporate Debts Could Pin the Fed in an Inflation Trap

I thought this part was interesting:

Yes I've been hearing a lot of "zombie" warnings for the past few years from several finance blogs I follow. I doubt if there's a painless answer to that problem. Let the companies fail and we're likely to trigger a bad recession. Prop the companies up and we're just kicking the can down the road. The Fed has really backed themselves into a corner with respect to QE and interest rates....

Here's a few more articles about the Fed's Liquidity Trap, Inflation vs. Deflation, and related macro issues.

Is The Fed Walking Into A Trap? (May 2020)
Inflation vs. Deflation – Which Is The Bigger Threat In 2022? (Dec 2021)