🚨China and France complete first Yuan-settled LNG trade, signaling the end of using the US Dollar for these energy trades. pic.twitter.com/nP8GmHqeGC
— Wall Street Silver (@WallStreetSilv) March 29, 2023
From a post last May: What we are watching here is the death of the country that we grew up with. It’s mathematically and historically certain at this point- our government and the nation it Read more…
Scrabble has gone woke, changing the rules to make the game less competitive for people snowflakes who are too stupid to play the traditional version.
From wirecutter, we see yet another article lamenting the loss of the American dream and how it isn’t possible for a family to live in a home with only one breadwinner. I call bullshit. I Read more…
9 Comments
dave in pa. · March 29, 2023 at 2:45 pm
yup. saw this coming a few years ago. I think it was the bailout in 2008 that did it for me. stop keeping money in the bank and drew out the 401k and TSP plans. put the money into “stuff”.
pull out the last of it right before trump got elected. that kind of shocked me. I figured the bitch would be in by the “system”
miss out on the growth with him in, but I did make the move to the countryside. life is better in the woods !
I do have a little bit of silver coins, but most of my wealth in in food, tools, gear and the house. other countries are already dumping the dollar now. some for quite some time now.
the idea they can just keep printing their way out of problems they caused is coming to a end. the world is not buying our shit money anymore. figured by the end of summer it will be worthless here even. plan on it. as I have told many people.
“stuff is better than money. if it is the right stuff. you can not eat gold or silver. it will not heat your food or home.
my neighbors thought I was nuts to install 2 wood stoves here after I moved in. they don’t think so anymore.
it is 40 something outside now. inside it is a nice 74 or so
and there are trees all around here too- fuel is free. just pick it up and cut or split it to burn.
mike · March 30, 2023 at 6:49 am
I have done much the same as you, though it was mostly in emergency mode as the BLM Summer of Love burned on in 2020. It required moving a lot of funds quickly from stocks to less volatile investments. When I found the rural property I wanted I pulled the largest of the IRA accounts out in a lump sum and paid for the farm in cash. I let the year roll by and paid the balance of the taxes on the early ret withdrawl the next April 15 and waited for the Revenuers to calculate the penalty. It was not bad. I spent 2021, 2022, 2023 by withdrawing the remaining retirement accounts largest to smallest in January of those years and waited to pay the remaining taxes the following April. So it is all out now and only my checking account remains. I am drawing that down through the course of regular withdrawls and normal spending.
I put away a good cash reserve in one of the gun safes and was on a gold and silver coin buying program or a while. I look at the junk silver as potential basis for a rural 19th Century style farmer’s economy. The gold I look at as portable wealth preservation. The central banks of the BRICS countries are all buying gold as fast as they can. I bought my gold and silver coins tax free in person in a tax free state and paid with cash that came out of the ATM the week before. If the value purchased was below a certain threshold there is no requirement for the coin shop to collect your personal info.
Like you I have been buying large useful things, farm tractor, chainsaws, hoists, power winches. tractor implements, wood processing tools, carpentry tools, metal working tools, woodshop tools, etc. Many of these are antique where available and serviceable, (adze,slicks,axes,bow saws). It has been a lot of fun, and also like you I look at my woodlot as standing heat and money.
dave in pa. · March 30, 2023 at 3:53 pm
almost forgot. I have 2 275 gallon heating oil tanks full.
this place has hot air heat, and I can’t stand it. too loud
doesn’t really keep the house warm and runs 15-20 minutes at a time. a real waste of money. the wood stoves keep the house at 74 or so easy. and they are quiet.
so, I figure I can always sell or trade the heating oil if need be.
make sure you get enough oil filters and oil for your cars/trucks/ tractor now as the price is going to go up again. if you know how, look for a old lathe and maybe a metal shaper or a vertical mill. they are real handy to make parts with . years ago, my brother heater died.
the shaft bearing froze and cut the shaft in two.
he told me about it, I looked at it and then made him a new shaft in less than a hour. the gas company wouldn’t have got to him in days. machine tools can and do make all the difference in fixing things.
anonymous coward · March 29, 2023 at 2:55 pm
I read a little bit about the Bretton Woods agreement. It said, when the US stopped offering gold at $250 an ounce, many countries asked for Gold repartitions. That also was the effective end date of the US dollar being the gold standard (pun intended) of currencies..
SiG · March 29, 2023 at 9:14 pm
I did a look at what the price of gold should have been if you divided the M1 money supply by the ounces of gold allegedly in Ft. Knox (or in US hands). This was trillions of fiat dollars ago, and it worked out to almost $15,000 per ounce back then. I need to go try to find those numbers again. I imagine they’ve hidden them better. I bet it’s close to $100,000 per ounce.
Like every other country in history, the dollar is being destroyed by central bankers after it became fiat currency.
The death of the petrodollar is the first step to the collapse of not just the US, but Western civilization.
SiG · March 29, 2023 at 9:21 pm
Couldn’t resist a quick look. Seems they discontinued the M1 stat a couple of years ago, before the printing presses really went into over drive. But with the most recent number on the St.Louis Fed site of 18.105 trillion, it worked out to $123,163 per ounce.
https://fred.stlouisfed.org/graph/?s%5B1%5D%5Bid%5D=M1
At the time (2011) the US claimed 147.2 million ounces of gold in Ft. Knox. Those are the two numbers I used.
mike · March 30, 2023 at 6:55 am
Fascinating, thanks. This is why I budget for as much gold as I can reasonably carry. The BRICS countries and many other central banks are all buying it up as fast as they can. It will assert itself in the International marketplace at a reasonable price once the Dollar is disposed of and the American Fed Banksters ,(who are probably hoarding gold too) have no power to manipulate the market.
SiG · March 30, 2023 at 11:42 am
The Fed Banksters won’t all get what they deserve because most of them are dead. They’ve been destroying the dollar since 1913.
The only thing to beware about gold is that if was really $125,000/oz, it’s far too dense carry. That’s not just “1 oz to buy a car”, that’s to buy a very, VERY high end car. Gold is selling for around $2000/oz at the moment. When the dollar dies, gold will get bid up, but I doubt it would get bid up as high as the simple analysis.
A 90% silver dollar is worth $17.26 today. It will get bid up, too.
anonymous coward · March 30, 2023 at 7:37 pm
Frustrating that you can’t buy silver eagles at the bank, or easily convert US dollars for say Swiss Franks at the bank. It’s almost like they don’t want everyday Joes to do that thing? On the bright side, as of today, I can still convert $ to Beans, Bullets and Band Aids.
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