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I wish Schiff had been there too, but maybe he was unavailable.
Totally disagreed with Every that gold is always deflationary (or something along those lines). I almost laughed when he said that. Rickards was quick to step in with one or two examples where that was not the case.
I hope you are right about the USD and share price. The status quo favors us in that respect. I am not real thrilled about the volume of options / restricted shares reported recently, but that seems standard in the industry.
Marco Rubio is painting a dire picture about when China decides to unleash their cyberattack on the U.S.
He's probably right about what could happen and the Idiots in our government aren't really concerned. What's the government here doing to inform the citizens about how to protect themselves? Not a damn thing.
https://www.msn.com/en-us/news/world/rubio-warns-chinese-cyberattack-will-be-100-times-worse-than-at-t-outage-your-power-your-water/ar-BB1iIO20?ocid=msedgntp&pc=U531&cvid=0afe6735ab434034b6a50d6c3424f542&ei=17
I agree 100% with your point about what Johnson said concerning the U.S. and the "war" subjects they discussed. The view Johnson seemed to take was that because U.S. defense contractors did so well the U.S. won the war! What the Hell? That makes no sense whatsoever. Dementia Joe left $68 billion worth of military equipment in Afghanistan for the Taliban, does that mean we won there too? No, absolutely not. We don't even have hypersonic missile technology here yet, it's my understanding that China and Russia already have hypersonic missiles. Are we winning there too? LOL
Rickards and Murphy were in the camp that the dollar is on its way out and the other two, I thought, made valid points that the dollar will be around longer. IMO it's very clear the dollar, along with the U.S., is losing it's influence around the world. The dollar may still be the least dirty shirt in the closet, but the East is making a very big effort to dump it. That's for certain, so that is a slower death for the dollar. We could at some time end up with multiple reserve currencies I suppose.
If we do see the dollar hold on for another 5-10 years that may be in FMG shareholder's best interest. We may not have to fire sale our shares as quickly as possible after we see the share price move higher.
Murphy was just O.K. in the debate. IMO Peter Schiff would have been the other Guy with Rickards that would have made a much better case for the gold side of the discussion.
I'm glad You persevered to watch the entire debate. It was testy at times, but I thought both sides made good points. It's always good to get different perspectives.
It took me 3 days but I finally finished the Zero Hedge roundtable debate/discussion with Murphy, Rickards, Johnson and Every. Thanks for posting that. It was packed full of interesting viewpoints. Definitely worth watching though it requires a substantial block of time and you have to pay attention or things get past you. The most shocking thing was Johnson seemingly saying the US won in Iraq and Afghanistan because the defense contractors did well. I 100% disagree with his line of thought. Some great back and forth on the USD, BRICS, gold, fiat vs fiat, government confiscation, etc. I think overall I tend to subscribe to what Rickards was saying the most, then a tie between Murphy and Johnson and then Every. All of them had very valid points throughout the discussion. I hope they do another one at some point in the future.
PR out on more Duparquet drill numbers and gives totals for drilling done in 2023. Looks to be very promising with potential to find much more gold there in 2024 and beyond. We're getting absolutely NO credit for what's at Duparquet or for that matter even having Duparquet, as an asset.
Hopefully, at some point in time that changes.
https://firstmininggold.com/news/first-mining-announces-final-2023-exploration-drilling-results-and--commencement-of-2024-drill-program-at-the-duparquet-gold-project
A must listen from Martin Armstrong.
https://www.zerohedge.com/political/everything-going-wrong-deep-state-martin-armstrong-warns-thats-what-makes-them-so
Just watched this interview with David Rogers Webb. It doesn't cover the detail of the audiobook I posted, but he gives a nice overview of the book with the fellow doing the interview. Webb talks about most of what we've been talking about here. He's done the research and what he says IMO is true.
The Banksters start wars to get what they want. These People are truly demented.
A must watch.
Has anyone listened to this? I'm posting the audiobook off UTube for THE GREAT TAKING.
The voice reading the book text I suppose is an AI copy of Orson Welles. Much easier to listen to IMO.
I'll comment on the book when I finish it.
Interesting interview George Gammon has with a hedge fund manager about various topics. George is always thought provoking and brings up issues we may not have even considered. A couple of those are in this interview.
Here's Prof. Steve Hanke's latest. One of the few economists that really understand and get what's going on. This Man IMO should be running the Show The issue with that is he may fix the problems and we know that wouldn't go over too big. Hanke's points are spot on.
He sees gold moving much higher too.
Interesting guest with Rob from Gold Silver Pros and I agree with his views. Go to 15:00 into the interview and listen what he says from there.
He talks about a near-term washout coming in PM's and the miners with a strong move higher after that. He speaks to what happened to gold in the 2007-2009 time frame when the market tanked and everyone was seeking safety and liquidity. In other words, they were scared, but after that move down PM's and the miners bottom and turn higher.
Looks like the Whales may be starting to take positions in the miners. Check out this article from ZH speaking to Stan Druckenmiller's hedge fund dumping some tech companies and buying into Barrick and Newmont. I guess he thinks the shares are cheap here.
https://www.zerohedge.com/news/2024-02-15/arizona-joins-brics-and-druckenmiller-buys-barrick
We know NOBODY ever wins in war, especially those that give the ultimate sacrifice in war, but the country/countries that vanquish the opposition get the spoils of war. That's gone on through recorded history. To the Victor go the spoils and special privileges.
The sad fact is I see the U.S.'s main purpose currently as being a global provider of the weapons of war. Mainly to our allies. Think about it, what other area of commerce in this country is more thriving and vibrant now than the companies that make weapons? I certainly can't think of any, but to Jim Rickards
point to Brent Johnson in the debate that doesn't make our military the best in the world.
Thanks for your summary. I will try to watch over the next few days.
Hearing what Johnson said reminded me of Lindsey Graham....just pushing the war narrative. I think in the next world war there won't be any "winners" - just relative levels of loss.
Recent Peter Schiff interview. It's always good to hear from Peter and get his latest thoughts.
Also, make sure you watch this part with Brent Johnson. It starts at 1:16:30
He talking about the dollar getting stronger as the rest of the world requires more dollars and of course we know they aren't currently making more dollars. So, when the SHTF moment arrives Johnson talks about the big SELL OFF that will ensue and how gold will sell off with the market. What I've been harping about.
When Brent Johnson was talking about the military situation he was bragging about how war is really good for the U.S. military complex. Well, no shit Brent, but how good is it for the U.S. taxpayers?
Rickards was trying to tell him that didn't mean the U.S. military was the best military, but like someone heavily invested in Raytheon or Lockheed Martin, Johnson was more interested in the U.S. selling weapons than us being able to defend ourselves. That's what this has all come down to, people making money in defense stocks. I thought Rickards made him look bad in that argument.
O.K., I watched the whole debate. Let me say that it was long, but worth watching in total because they covered a LOT of ground and interesting topics. Many of which we talk about here. There were a couple of times in the debate where I thought the gloves were going to come off between Rickards and Every, but cooler heads prevailed. Adam Taggert didn't have to play referee in a cage match fight. LOL
The main topics of discussion were dedollarization and if the dollar loses reserve status, BRICS and rest of the world getting out of dollars, military conflicts, CBDC's and of course gold and it's place going forward. If I didn't have time to watch the whole debate I would suggest trying to watch the first hour and a half and the part at the end with the Q&A time. The Q&A begins at 2:17:10 into the video.
The part that I found especially interesting was when they were talking about possible military conflicts happening. I don't know how much real knowledge any of them had in terms of knowing who's got the best military right now, but I tended to agree with what Jim Rickards was saying, instead of Every and Johnson If it comes down to a major war happening IMO that could usher in the next Top Dog. I'm skeptical the U.S. has the best military at this point in time. I think Rickards made the crack our guys would be wearing dresses.
They ALL agreed you need to be holding physical PM's and they all predicted lofty gold prices going forward. Peter Schiff with Rickards would have been MUCH better than the Murphy fellow.
Ha! Schiff there would have certainly added more to the conversation to say the least.
If could listen to it and could let us know the best parts that would be great. Thanks.
I've only watched the short clips too, but as time permits today, I'll watch the full discussion.
Stay tuned and on a later post I'll note the best segments to watch. I know others here have limited time to watch also.
I thought the exchanges from Every and Rickards got pretty testy. Rickards is normally speaks with a quiet softness, but it appeared he really got his feathers ruffled. by some of Every's comments. Rickards revealed a side I've never seen from him.
They should have invited Peter Schiff to the party too.
If I remember to do so, the next time I speak to Paul, I'll see what he knows about Reinson's departure. I don't know if he was let go or left for greener pastures, but he wasn't there very long. That might indicate he wasn't working out like they had hoped.
I'm all for rewarding and incentivizing the people in the company that can bring results to shareholders. Maxwell and Lines are both squarely in those positions.
Steve Lines was excellent in that webinar you referenced. I've already told Paul to get Steve back on a webinar AFTER the EA is submitted this Summer. That would be a perfect time for him to update shareholders on where we are with the Springpole permitting AND what's going on at Duparquet.
There should be volumes of information he could shed light on in that webinar.
That article explains a lot. Jerome Powell said in his recent 60 Minutes interview that the Fed can't tell Congress how to spend or appropriate money. No shit, Jerome that's because You and the Idiots at the Fed can't manage your money either.
Their solution is always the same....print more fiat and cause more inflation for the huddling Masses. The Global Elites don't carry they have all the fiat they'll ever spend.
I watched all of the shorter clips. The last video is almost 3 hours so I would need a serious block of time to watch. While Every and BJ brought up good points, I think what Rickards was saying made more sense to me overall. Murphy had a good point in the last video about how the banks are already herding us toward the chute of CBDC acceptance.
The BRICS will try everything they can to wean themselves off the USD. Every made a big deal about how China needs to sell to the US and western markets. Well, that dependence will diminish somewhat as time goes on because the US debt is soaring with no reversal in sight. To go back to the criminal organization analogy - they'll run up that debt to unimaginable heights and then crash it so that they reap the benefits going up AND going down. As you and Nsnz33 have mentioned and/or alluded to recently - the Fed is a corrupt organization, the banksters are engaged in racketeering and so are the pols. Remember that news drop that listed all the pols getting money from China? Boy, that whole issue sure disappeared in no time. Instead of real investigations of things like that - or the NGOs that are spearheading the invasion of the US - we are given bread and circuses much like the Romans. People enamored with Taylor Swift at the Superbowl or what those goofs the Kardashians are up to.
While I thought my man Schiff got the best of Rickards when they squared off a while ago, I thought Rickards had the more compelling arguments in these videos. To me it just shows that some really smart people can have differing opinions. The discussion is a great one to have. Maybe we could have another roundtable with AOC and Nancy Pelosi vs Ron Johnson and Josh Hawley. I would pay money to watch that comedy.
I don't like the fact that Rickards cut the guy off a few times, but Every did the same to Rickards several times.
Whatever it takes to get it to the finish line. Maybe Jeff left because of a better opportunity at another company. Who knows. I just hope the departure does not disrupt our progress toward the goal line.
I thought Lines was good during one of the webinars I watched in which he spoke quite a bit.
Another good example of how the Fed is shady.
https://www.aier.org/article/the-fed-says-its-record-losses-dont-matter/
Was just now snooping around on the Insider's share website and we know that attached to the bottom (sort of hidden IMO) the PR the Company informs us that the former COO, Jeff Reinson was leaving the company.
https://firstmininggold.com/news/first-mining-confirms-new-area-of-mineralization-at-central-duparquet-and-announces-management-changes
James Maxwell and Steve Lines were promoted and given a nice package of stock and options, as we can see in the Insider's report. They got a bunch more today. I don't know what was going on with Reinson while he was with the Company, but it may be a better thing for shareholders in the longer haul that Maxwell and Lines are being rewarded and INCENTIVIZED by the company now. Both Maxwell and Lines are playing big roles with the company's future and are heavily invested now to do a good job going forward, because it improves their bank accounts when they do.
https://www.insidertracking.com/node/7?menu_tickersearch=FF*CA+%7C%7C+First+Mining+Gold
Anyone else see this on ZH today? Some very interesting discussion from a panel of so-called experts talking about the dollar, BRICS, CBDC, etc.
There are clips of the discussion in the ZH article and at the very bottom of the page I believe is the link for the entire thing. I thought Jim Rickards and the Every fellow were going to start throwing punches after talking about each other's Daddy. Rickards had to quick add his father was highly decoreated by FDR back in the day. LOL I think Jim got his feelings hurt.
Anyway, worth watching, I think.
https://www.zerohedge.com/economics/zerohedge-debate-recap-global-reserve-brics-cbdcs-and-more
Yes, they'll do their best to keep the appearance of a strong economy up until the election, IF THEY CAN.
All of the M2 being drained out of the System now is going to hit eventually, when that happens is anyone's guess.
We could have a Black Swan or two flying before the election, which wouldn't be good for the diaper-wearing Incumbent, that's only IF he's the nominee by then. I'm expecting him to bow out before the election. They're getting tired of having to change his diapers at the WH.
LOL
There is also the extra factor of the election. The banksters will be asked to do some window dressing to make things look better.
Well, that's the whole background of a history of the world hierarchy, isn't it?
First there was the chief of the tribe or clan, then there were Kings, then came Presidents, Prime Ministers, Politicians, and BANKERS. These were the people at the top of the food chain and the rest of us don't really have a say in the matter. That's not going to change in my lifetime unfortunately.
I believe at some point there will be a mass awakening among the People that fiat money is not worth working for because they won't be able to live off what they earn in fiat. That means inflation will be higher than what most people can live comfortably on. People won't be able to save any money.
because the cost of living will be TOO high. We're seeing that happening right now, but the Masses haven't figured it out yet and most importantly the crooked government is giving away money to those who can't earn enough.
IMO the SHTF moment comes when the government can't keep the house of cards propped up by paying everyone to be happy. In other words, the welfare state will collapse, the military complex collapses, the dollar hyperinflates, etc., so what happens then is anyone's guess. What will they do then? Who gets blamed for the huge cluster-fuck that's been going on for years and years?
That might be the moment we see them roll out the CBDC and claim to save everyone. Are people going to trust the CBDC? I doubt it, but those that want to continue feeding their face will have to succumb to it to SURVIVE. This is just a theory that I see as plausible.
If these Assholes had stayed on a gold standard IMO this would have never happened, but that means they also would have had to control spending and we know that's impossible for them to do, UNLESS forced to do so. That's exactly why we see this impending train-wreck coming.
I guarantee You the next CPI number next month will be below the projected number. We're in the time line now where the Banksters know they're going to HAVE TO begin dropping interest rates. If the economic numbers don't follow their narrative, they'll just start cooking the numbers to make it work for them.
I firmly believe that.
I don't entirely trust the Trumper, but he is by far the best option. The first thing he should do is bring Navarro back to negotiate with the Chinese. Apparently he is a great negotiator and frustrated the Chi-coms quite a bit because he has very detailed knowledge of past agreements the Chinese have made with the US. Plus he is pro-America like Trumper. Trumper was trying to line things up so our manufacturing sector could recover somewhat and there was some good progress made in that direction - which Diapers prompted wrecked his first few weeks in office.
Trump could get back into office and open the Keystone pipeline and the other pipeline in Michigan that China Joe shut down. Tens of thousands of good-paying jobs created and we could starting replenishing the national oil reserves. Does anyone think Trumper would not prioritize the recent huge discovery of rare earth minerals in Wyoming? No, he would prioritize its development as a national security issue.
I liked your breakdown of the election numbers from 2020 and 2024. I hope so many people are sick of China Joe that they overwhelm even the extra vote that the illegals provide. Some of the typical liberal folks are really coming out against China Joe and some are even openly promoting Trump. The sea change from 2020 is really noticeable where I am. I just hope they don't take him out. Just read tonight that Mayorkas personally declined Secret Service protection for RFK Jr. Also read that the House took another vote and just impeached Mayorkas. Mayorkas helped set up this invasion and actually visited the Darien Gap in Panama to facilitiate it (according to Michael Yon). Mayorkas should be prosecuted. The crime in my area has skyrocketed.....a combination of no prosecution, a law prohibiting bail unless the criminals are deemed a public safety threat, home confinement rules that allow people out of their homes 2 days per week and the same clowns being arrested for very serious crimes when they are already on home monitoring for previous very serious crimes. Total clown show. The Venezuelans are adding to the problem because there seems to a quite large number of them stealing things over and over again. This nonsense has to end soon or we risk falling into lawlessness much worse than what exists right now.
They NEED AS MANY ILLEGALS as possible inside America before November this year because they realize the moderates and even some left leaning willfully ignorant type libs and leftists are likely to vote for Trump in light of how extremely self-destructive and lawless things have become under this puppet administration.
They know if Trump gets in, he's going to invoke aggressive deportation measures like never before and the construction of the border wall will be more unanimously supported this time around compared to 2020 when the majority of the sheep still branded Trump a lunatic because he was the first internationally recognized figure to openly call the media Fake News.
They know this, they know if the election is left in the hands of an undiluted electorate, they will lose. So they are trying desperately to bus in, fly in, give gift cards, driver's licenses, free hotels, food, healthcare, ANYTHING AND EVERYTHING to a) invite and encourage more to come, b) buy the loyalty of the existing illegals.
Truth is, as much as I prefer Trump, I'm not even sure he's 100% uncompromised either. However, he's 77, VERY LUCID for his age, and here's the most important selling point for the Don that's always sold me: he is a billionaire in the twilight of his life. He gains NOTHING but unnecessary stress and a very real plausible danger to his life by doing this. He's not doing this for the money, not doing it for the graft and self-gain because he's already got billions. The only rational conclusion to be made is: he's doing it because he wants to make a real change.
I'm reminded of a scene from Gladiator when Marcus Aurelius is trying to convince Maximus to take the reigns as emperor and Maximus says:
Max: "I don't want it"
Aurelius: "And that is precisely why it must be you.."
Translation: The best leaders and politicians are the ones who genuinely want to serve their country and the people they represent with little to no interest in self-gain. And that's why I like Trump, and that's why they will try EVERYTHING from now till November to prevent him from getting in including assassination, invasion of barbarians via the border, etc etc etc.
THE GOVERNMENT IS LITERALLY GIVING THE ILLEGALS IN SOUTH AMERICA EN ROUTE TO THE BORDERS DIGITAL PDF MAPS OF THE BEST ROUTES AND WEAKPOINTS.
Theoretical example:
2020
50 mil consv. votes for Trump
48 mil liberal votes for Dementia
5 mil fraudulent votes for Dementia (illegal, fake ballots, digital vote swaps)
2024
62 mil consv. votes for Trump (12 mil libs/moderates who now switch sides to Trump)
36 mil liberal votes for Alzheimer's
27 mil fraudulent votes for Alzheimer's (thanks to newly added illegals)
It is not only the money that is absolutely maddening...it is the HUGE number of useless deaths caused by gutless fools like Lindsey Graham, McConnel, McCarthy, Schumer, Pelosi and all the others supporting this. People who would never send their own family into combat or put them in harm's way. Meanwhile, thousands upon thousands of honorable men and women were messed up in our sandbox adventures over the last 20 years and Mark Wahlberg has to do TV commercials trying to raise money for them because Uncle is not honoring their service and properly taking care of them. Instead, Uncle gives money to illegal aliens and current and retired civil service workers of Ukraine.
More and more folks are talking about disaster a few months away....not a few years. What do you think - will we make it into 2025 without a serious financial crisis?
Well said, but I think there are probably 20 to 30 million illegal aliens in the country now. There were over 10 million 20 years ago. Ah, I think I see now. Perhaps you meant the recent influx is 7 million? That number I think is correct. I have seen some of them interviewed on TV and they say they are going to vote for Diapers.....and corrupt folks in the major cities will allow it if the illegal aliens get a drivers license or state identification card - which is permitted in many states.
You are spot on with your commentary that they are blowing it up until they can't blow it up any longer and it implodes....but while it keeps going they are siphoning off as much as they can. Kind of like a mob operation or gang operation....run up as much credit as possible against the operation and then try and collect in some way when the whole thing implodes. So when the whole US thing implodes the corrupt pols will try to exploit it by collecting from.......us, the suckers who will be taxed in one way or another into the stratosphere! All the folks who put money into social security will get hosed. I don't really trust 99% of what they say, but I trust that they screw the ordinary person one way or another. The real "holding your ankles" moment will occur when they usher in CBDC to "save us" from the disaster they have engineered.
I really do hope FF can somehow benefit....but that is why we all hedge, right? Buying physical, having little or no debt, buying physical things one might need in times of crisis. That being said, you could be right.....that may not be enough. They could raise taxes and fees to levels no one could afford. They could force you into their mouse maze and restrict your ability to do almost everything (thinking Herr Schwab and his cronies here along with John Kerry and the other globalists). I still laugh when I hear John Kerry talking about carbon emissions. I would love to be in the press corp and completely jam him up with simple, truthful questions and then shut down his attempts at BS responses.
Just as I do with Implanting, I really appreciate your posts.
Diapers will blame the corporations for an increased CPI...not economic policy or money printing.
Thanks for the compliment but your posts are better and you are the driving force behind this board.
You are right as usual....we have way too much government throwing up too many roadblocks in various ways, being more and more intrusive into our personal lives, trying to punish those who do not believe the parroted narrative, etc.
They know it's a sinking ship and are trying to embezzle AS MUCH AS THEY CAN before the economy implodes and the scam ends.
I'm looking at you Lindsay Graham, Chuck Schumer, Mitch McConnell, and 99.9% of the rest of you leeching parasitic cancerous wastes of oxygen who constitute our so called government.
Near 7 million illegals inside, all future dem voters, wars everywhere, inflation and economy melting down, divided country, morally bankrupt culture, brainwashed and dumbed down populace, and worst of all with all this custodian "The Great Taking" measures in place, I don't even think those with no debt are safe.
I'm just hopeful like the rest of you that our shares rise enough and IN TIME for us to cash out and buy real tangible things BEFORE the "Great Taking" takes place and our shares are appropriated.
Honestly nothing short of an asteroid or apocalyptic event will make any real difference until the central bankers and those that support the idea of a central bank are gone.
Even if some horrible event happens and strides are made to restore sound money and gold backing and there is hypothetically a mass awakening of the root of the problem, so long as money creation is in the hands of private entities like the Federal Reserve and the Bank of England, nothing will change. They will just regroup, rebrand, maybe even temporarily bring back the gold standard to feign the mirage of things reverting back to the founding norms and ideals sort of like a wolf in sheep's clothing, and then slowly start corrupting everything all over again.
Well, the Senate thinks it's a great idea to just send another $96 billion over to Ukraine and Israel with no strings attached. No problem we'll make a few digit changes on the computer and presto, we'll make the money up. This is insanity, but no different than what we've been seeing.
https://mishtalk.com/economics/senate-votes-to-send-ukraine-and-israel-95-3-billion-in-free-money/
The CPI numbers came in hotter than expected today and that means that expectations of interest rates staying higher for longer may be in the cards.
The stock market along with PM's are taking a hit on the news. The Talking Heads on the biz news are becoming more concerned about the high rates staying high for too long. Maybe something is going to break?
I think today's market action is a precursor to what will happen in a down stock market. PM's will fall with the market. Until they don't anymore.
https://www.zerohedge.com/markets/cpi-prints-hotter-expected-january-food-utilities-jumped
IMO, not only is Peter Schiff a sound Austrian economist, the man's a Visionary. Schiff is wise enough to connect the dots and see where they're leading to. Peter's also, since I've been reading him, been a proponent of sound money. Fiat's not sound money and we know since the world got off the gold standard it's been downhill from there. Schiff has always liked PM's and the stability they bring to a monetary system, as do all Austrian economists.
Of course, what Schiff preaches is NOT what people want to hear. His message is one of austerity, control, and self-reliance. The total opposite of what's gone on since we got off the gold standard, that's out-of-control spending and massive debt. Now as we seem to be approaching a "light at the end of the tunnel" moment the Jamie Dimon's and Jerome Powell's are speaking up about the debt wall coming. They're talking about the problem, but how's it going to get fixed? I'm not hearing many solutions from them on that. Why? Because the solutions aren't politically correct. People are going to suffer and get less, not more. They want to blame the other Guy for the problems they made. What else is new.
Schiff has been the One that said this is what he sees coming. Pretty much a reset, reckoning, come to Jesus Moment. are just a few words that come to mind. He also sees massive inflation coming most likely BEFORE the SHTF moment arrives because the fiat money will continue on steroids.
As far as what happens to SS and Medicare, I HOPE they can be salvaged to some defree, but if they can keep them going, IMO it will be in a diminished capacity. People will have to learn to live with LESS of both.
Bezos had a no brainer with his move to Florida, my question is what took him so long? We're in the beginning currently to see the collapse of the economies of these overtaxed BLUE states and cities in those states. This migrant invasion has seen to that in a big way. The Feds can't continue to support them either, so we'll see the rampant crime and poverty in those places worsen. They made their bed, so they can lay in it.
Money always goes where it's treated the best.
Wow, your post was very eloquently delivered and covered a lot of ground. I won't touch on every subject you did, but will comment on the biggest problem and that's the out-of-control government.
The U.S. government is SO bloated it's about to explode IMO. If our founding Fathers could see how over-blown and dysfunctional this government has become they would croak again. My guesstimation for agency cuts across the board would be to start at 25% and go up from there. There's some of the agencies that just need to be done away with altogether.
We're in the shape we're in now because of WAY TOO MUCH GOVERNMENT. On top of the obvious corruption, we see now, we've also evolved into a welfare state. People have no savings because they depend on the government to support them. At home we have give-away programs out the wazoo and abroad we try to be the world's cop. That's not sustainable and the chickens are coming home to roost. This movie is not going to end nicely.
I agree with the other points you made, because not only is there a government problem, but there's a moral and ethical problem too. This country has gotten away from those big issues too. We need to go back to what made us great from the beginning. Sadly, we seem to be moving farther away.
Sound money is part of what helped us become great, we need to remember that also. Buy PM's for the impending shit storm that's coming.
It is interesting that now everyone is starting to sound like Peter Schiff. The difference is he has the economic acumen to lay it all out in exquisite detail. I have never heard any others go into detail in the way Schiff does. His in-depth analysis is unequaled. At times it is hard to listen to him because he addresses so many issues in such short periods of time. Plus, he can go on for hours discussing very detailed economic analysis. I am jealous - I wish I had his mental stamina. How he does not become exhausted is impressive.
I hope they are able to restructure social security and Medicare in a way that is fair. Will that happen? With our current crop of crooks in DC I doubt it. They'll figure out a way to fleece the remainder of the social security trust fund and give it to Blackrock, Vanguard, etc.
Did you see Bezos is moving from Seattle to Florida? Washington STATE instituted a 7% capital gains tax on the sale of stock above $250,000. This appears to be on top of the federal capital gains tax on the sale of stock. What a scam. While I don't care for Bezos, I certainly don't blame him for moving. You'll see more and more people moving to areas that are not as financially burdensome as New York, LA, Chicago, etc. This will put even more pressure on those cities to institute even more money-sucking taxes, regulations and rules that will further perpetuate the drain of talented and/or financially stable folks. Have you seen the property taxes in New Jersey, New York, Chicago, LA versus other big cities in states like Florida, Texas, Nevada, Tennessee, Wyoming, etc.? There is a big disparity, particularly when you factor in state income tax and other taxes.
https://www.cnbc.com/2024/02/12/jeff-bezos-move-to-miami-will-save-him-over-600-million-in-taxes.html
Good article. Can you imagine the impact interest rate normalization would have on housing, not to mention several other sectors? Even if it is horrible on a short-term basis it is probably the best approach because it shows responsibility and would ease some of the concern of major T-bill holders. It would also increase the payments received by the T-bill holders.
Let's face it - the government is bloated. I could easily see 10% across-the-board cuts at every agency. Instead of seeking to lower the number of federal employees, the government continually hires more folks. Some of them are real quality folks - like the higher-up at Dept of Energy who got caught stealing the luggage of women two or three times. We need to decrease the number of employees AND decrease their non-payroll budgets.
Dimon keeps saying it - and as you have noted he has said it several times lately - I just don't believe more people are not picking up on it. He is giving us a pretty clear warning of Danger Will Robinson! Danger! Some of the older folks here will remember that one. I don't buy the analogy made between the national debt and household debt.
Let's look at several things - they are moving forward with their attempt to compromise the US much like they have done in Europe by financing our invasion with people from less fortunate countries all at one time. Our own tax money is funding their transportation (via non-govnermental orgainzations), communications (cell phones) and petty cash (debit cards with a few thousand on each card). They will settle in and soak up whatever scant extra resources there are. The medical system - already broke - will go completely bust having to treat everyone. Food stamps, public housing, public school where there will have to be additional people hired to teach them in their own language - a huge amount of money. Meanwhile, we keep throwing money out the window on Ukraine paying the salaries and pensions of their government employees and continue to finance other countries who are pursuing a genocide strategy in dealing with a group of terrorists they themselves created. 10 or 15 million people in the US receive social security disability. Some legitimately need it, many others do not. More wasted money. Corporate welfare - more wasted money. The carbon scam - more wasted money. 100 million dollar fighter jets than can't fly in stormy weather - more wasted money. EV cars that don't work in cold weather and cause HUGE losses at car companies - more wasted money. Will taxpayers have to bail out GM again? I can go on and on. We need to trim all this stuff. Change the ethos of the country back to what it used to be. Get rid of the teachers in public schools who are too busy brainwashing kids and not busy enough teaching them reading, writing, arithmetic and patriotism. Stop coddling kids (and adults) with mental illness who identify as furries (animals). Stop doing absolutely silly things like putting kitty litter boxes in the bathrooms, tampon dispensers in the boys bathrooms, letting boys shower in the girls locker room, letting males compete in female sports - particularly in boxing, MMA, etc. where a real danger exists to the female competitor. Don't have books depicting sex acts in the library for kids in grades 1 to 4 to review. They can learn all about that in health class later on in their schooling. So much needs correction. Hopefully we can do it!
Yet another Jamie Dimon dire warning. Is that all he does now?
Some of the people in the article blow off what's coming. What else is new, but just like what we hear now about no recession coming, they can't see the forest for the trees. No one knows what Black Swans will be flying soon or how much money they'll have to spend to keep the House of Cards from falling.
The very last part of the article really says it all. When other countries quit buying up our bad debt, what happens then? The party's over and you better have an alternative to worthless U.S. dollars.
https://finance.yahoo.com/news/jamie-dimon-believes-u-debt-093000484.html
Beautiful summation, Seablue! What I find so interesting is how currently so many other Pundits are saying what Peter S. has been saying for years now.
People like Jamie Dimon, Jeff Gundlach, and even JEROME POWELL are squawking now about the unsustainable debt and insolvency of the U.S. if they continue down this path. Gundlach said in an interview I posted here a couple weeks ago that Social Security could run into problems in the next 4-5 years, NOT in the 10 years everyone had been calling for. There's no way the spending can stop and most likely the inflation we've seen to date is just the beginning of what's coming.
The bigger question is WHAT are they going to do to keep it solvent? Somebody better come up with something because IMO SS going under isn't an option. If SS and Medicare went down the old people would be in D.C. with their pitchforks out, ready to stick it to the politicians. Literally.
Peter Schiff has always been branded as a whacko, crazy man with outlandish predictions, funny that now the mainstream Idiots are sounding a lot like him. LOL
As usual Schiff puts on a great podcast. My favorite part was somewhere in the middle when he pointed out a lot of folks have died for our country so why can't politicians do the right thing for our country - even if it means losing their next election. So simple yet true.
He was very bullish on silver and also very bullish on gold....but how can he not be with the all things he discussed? Enjoyed when he talked about Powell talking about cutting QE and raising rates. He did a great job of summarized the deficit, debt and unfunded obligations/entitlements.
He is right.....the dates for insolvency of various programs like social security keep getting moved up. Social security bankruptcy is going to really irritate me because I have paid a lot of money into it and will probably get nothing in return (or payment in a very devalued dollar). But hey, don't worry, just send another 100 billion or 200 billion to other countries with no oversight. What could go wrong? Janet Yellen told us things are great. Mayorkas said he had no responsibility for the border crisis. China Joe does not know where he is at half the time. All of it is just absurd.
The good news about the Schiff podcast is it is confirmation that miners should outperform sooner rather than later. We just have to keep moving things forward while we wait.
Peter Schiff is 100% correct about this situation.
https://www.zerohedge.com/personal-finance/peter-schiff-we-are-brink-catastrophe
There's no doubt in my mind that silver will break those old $50/oz. highs in time. The bigger question will be how high into the triple digits will it move? That should depend in large part on how high the gold price moves. Silver will follow gold's move up.
I firmly believe Keith wants to diversify more into gold mining properties going forward. Gold maintains a much steadier price and gives a mining company a more consistent revenue stream. I believe that's why FM acquired Jerritt Canyon. The gold price doesn't fluctuate as much as the silver price does.
Of course with silver above $30 FM will make a killing and their margins would be fantastic. Imagine $50, $75, $100 silver, their profits go through the roof.
I too, find myself torn between how I want to continue to unload my dollars. Whether it be in riskier stocks or a surer thing with physical metals I'll most likely continue to add some of both. Treasury is at nice entry point now, but it could get cheaper along with the whole mining sector if we see a big market crash/correction.
I'll just stay patient and see how this plays out, I still believe some break in the status quo will come this year.
Good interview with Keith. First Majestic would be overflowing with funds if the silver price just went back to its old high. Too bad Keith didn't acquire Alexco before Hecla took them out. Alexco had some very promising silver deposits in western Canada.
I have had some unexpected bills to take care of recently so the only thing I have been buying has been very small amounts of physical silver. Once my budget gets stabilized in a month or two I will probably start buying FF again. If Agnico is low I will probably pick up that as well. I won't get that much. That being said, building up over time can be effective. I never thought we would have this much time to keep accumulating. I also go back and forth between wanting to buy precious metals, stocks and things I will need if there is any type of supply chain disruption.
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