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CHIEF

Burnt Ends
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Everything posted by CHIEF

  1. True. But there is a problem with the BRICS nations and ASEAN nations trying de-dollarization. Russia, Iran, and North Korea have been sanctioned off for a couple of years to decades. China and India have bought up enough gold and silver that COMEX and the LBM no longer control the precious metals market. The Bank of Shanghi has the majority of the World's gold, currently, and China is going to use it to back the BRICS currency, after they start a situation that gets them sanctioned by the Western nations. We are dangerously close to loosing half of the nations, in the East, using US dollars as a reserve currency. The bond market is shit. Central banks are using printed dollars to buy up as much gold as they can, but foreign governments are reluctant to buy US debt. China liquidated from three billion dollars down to about 700 billion. I'm not sure who will eventually get left holding the bag, but someone is. The US has, by far, had the longest standing fiat currency, even though it has truly been a fiat currency since 1971. We have been printing money with nothing to back it for decades. The federal government just prints money to buy its own bonds. I have heard people say we will just inflate the debt away, others that say the trap has been laid. We may have some hyperinflation, followed by austerity measures. No one will like it, but something has to be "reset". CHIEF
  2. I bet it was a bitch trying to keep sunglasses from sliding off that nose. CHIEF
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