I enjoyed this article and also another one you posted a link to that featured Rep.Buffet speaking about gold and silver as a means for citizens to control government very much!
I gather you are pragmatic and favor holding durable goods as assets, so much as is possible. I favor that myself because while gold and silver may store value they cannot do work or meet needs in situations where needs are basic as in food but there are not goods to buy with money. In an economic collapse the goods are what is needed and money has little value to those who are starving.
I had noticed that individual states have been quietly passing legislation to accept silver as legal tender. I have also seen states upholding right to carry legislation. I find these items fascinating in combination. Wonder if they see the upcoming storm and hope to ride it out independently? Pure speculation for my own entertainment but I have wondered what others think about it.
Given the scope of so many countries carrying national debt loads that cannot possibly be repaid as things stand, we might yet see a “world currency” as an effort to reset and stave off total collapse? Printing money creates far more problems than it can hope to solve, in the balance but it seems to be human nature to try to stave off the inevitable as long as possible. Would world-wide hyper-inflation render it impossible to try a world currency? Or even a fiat currency in individual countries?
The international efforts to do away with physical money in favor of electronic funds might be a behind the scenes effort to work toward an economic reset?
I do not begin to understand the full implications but I see no way out of our own national debt short of defaulting though I am sure our financial powers can make our situation far worse before we hit that point. I actually hope Trump can pull it out – but we buy durable goods that will help us be more comfortable come what may.
The problems of social security combined with a national lack of personal pension funds and ever rising costs of healthcare for the profit of insurance companies is another strong force in the whole picture. The lack of pensions was addressed in the article linked in your post here and it touched on the heavy losses retirement accounts took some time ago. That round of devastating losses will not inspire people to invest traditionally for retirement savings and this lack of confidence can do the fragile economic house of cards no good.
I have been watching the approaching financial train wreck for years and scrambling to do what I can to brace myself. Mostly I have a lot of questions that cannot be answered yet. At this point I fear I might well live to see them answered.
Appreciate you sharing the links. Be interested in what you think may come of it all?
Statistics: Posted by rj5156 — Mon Feb 06, 2017 10:29 pm