The Modern Monetary Theory believers are not the first ones to believe that money grows on trees. Most of the 5-year olds believe it, too. The combined stupidity and arrogance of the elite, is boomless. It’s too late for taxpayers to protect themselves. Direct taxes are irrelevant now. They have been spending so much that they couldn’t possibly raise taxes fast enough to pay for a ny fracon of it.
In the same way it’s too late for voters to do anything about this. It’s completely irrelevant about who’s in charge. We all know who’s going to pay for this. Holders of paper money all over the world are going to pay for this, simultaneously, and very soon. The dollar is soon going to be destroyed, and the unbacked paper money all around the world, and then we all will be free. Like literally, free to live. We just have to make sure that we have enough real money and protecon to enjoy it.
The only possible escape from this kind of situaon is to get out of this collapsing black hole right now. We need to get out of dollars, out of euros, out of yen, out shekels, out of any government currency unit, and get some real money now before this thing completely implodes on us.
People have been collapsing in despair and debt. Again, it’s the human mind that makes up these things, not the charts. Our expectaons on going forward simply must be that there will be no significant let-up in this unl the enre monetary system collapses under its own weight. The faster we domuch beer it is. Just keep prinng money and money and let’s get to the end of this already! The governments have simply gone too far to admit their own mistakes at this point and there is no turning back now.
As long as the central banks connue to print the money, the nominal price of bonds and stocks will keep rising. Just have a look at the stock markets of hyperinflaonary economies and you’ll see what happens. Give a look at the Caracas Stock Exchange Index in Venezuela, it is up 540% since March. So what? Who cares? Not the Venezuelans, that’s for sure.
There will also be periodic spikes and collapses in stocks that we should not try to me so, just ignore them. All we know for sure is that as it happens, gold and silver will connue to climb in real purchasing power, and that too furiously. Our trading and investment philosophy must be always, first and foremost to maintain emoonal balance. It’s not firstly about making the right calls at the right me, but mainly balancing your posioning so you can handle any drawdown without panicking, trade raonally, and always maintain calm and so that your emoons are always under control. Always hold enough cash to buy the dips, and have enough real money at all mes with you for when there are no more dips, because one day soon there won’t be.
Precious metals are not at all an investment. They are money, absolute money. What most people sll don’t understand, even the gold bugs, is that even today, right now, this second, gold is literally money. When you buy a carton of milk at the supermarket, you are not buying it with dollars or euros or yen or whatever the currency is. You are buying it with a gold intermediary which is so called a “dollar”. Dollars only have value at the moment precisely because they can sll be exchanged for some (ever smaller) amount of gold. The minute people can no longer buy any real money at all, the dollar is effecvely dead. In all hyperinflaonary economies, the price of gold always approaches to infinity. There is no excepon to this rule, and we can guarantee you the dollar will not be the first.
The dollar price of gold is going infinity. That does not mean that the value of gold will be infinite in our real terms. That’s impossible to happen. It simply means that the value of the dollar will be zero, and anything which is divided by zero is infinity. All of the real purchasing power will then be transferred to owners of real money in a frightening global transfer of wealth that will scare the crap out of everyone, because we won’t know what to do with it. In a way we all must look forward to it, but also in a way we really shouldn’t. We should not want to get rich this way, but given the alternaves, there’s nothing else we can do.
Back say in 1910 nobody “invested” in gold at all. You can always invest in a gold mine, but not in gold because gold is money. You use gold for investment, but not the other way round. Now is definitely not the me to invest in anything except maybe gold and silver mining stocks, which will effecvely be the world’s central banks aer the dollar collapses. There will be no “reset” buon aer that. Not a successful one anyway. Yeah, they’ll try, but a new fiat cannot replace a broken fiat. Mises’s Regression Theorem precludes this statement. Now is the me to protect yourself from the monetary calamity by owning real money which cannot be inflated. If you have any kind of sense and you are a producve person who values liberty, we are going to need you for the rebuilding of civilizaon. So, protect yourself now as you are a valuable commodity.
RAFI FARBER:The US elecon outcome is completely irrelevant to the naon’s economic outlook. Could Biden quicken the pace to the end a lile? Maybe. Maybe not. I really don’t know, and I don’t think it maers. Maybe I’m wrong. Polics is not my area of interest. From what I can see, the Titanic is already sinking and we’re busy counng votes about what music should be played as it goes down. I am busy doing more important things, like securing a lifeboat rather than worrying about the damn music