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Author Topic:   Testing The Financial Apologists
Phat
Member
Posts: 18457
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 471 of 668 (918307)
04-25-2024 3:34 PM
Reply to: Message 467 by Taq
04-25-2024 2:58 PM


Re: The Philosophy Behind The Topic
Taq writes:
What evidence demonstrates he's right?
Did you know that the next likely chairman of the Fed will be a Modern Monetary Theorist? What evidence do we have that those clowns are right?
The other nations are jumping on board the hard asset bandwagon and it is much more sound than the pie-in-the-sky digital asset crap that our side is now pushing.

This message is a reply to:
 Message 467 by Taq, posted 04-25-2024 2:58 PM Taq has replied

Replies to this message:
 Message 472 by Taq, posted 04-25-2024 4:02 PM Phat has seen this message but not replied
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Phat
Member
Posts: 18457
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 477 of 668 (918359)
04-28-2024 10:53 AM


Chicken Little Costs More In Inflated Terms
Why should any of us be scared? WE are the United States! Leader of the free world.
Our dollar is as sound as....well...as sound as what, exactly? It is in the medias vested interest to prevent scaremongering of any sort. Its like yelling fire in a crowded theater.
US Bank Failure - What This Means For Silver & Gold. According to the FDIC, the fund reserve for bank failures increased and is at 121.8 billion dollars. Compare the failures for 2023 to the 2008 ones.
Note how much of our own money within the banks purchased bonds which in each failed bank count as part of the loss since they are not being allowed to mature.
Note also an inverted yield curve. Note the ten year treasury note. There are so many things which I cannot yet explain yet which I intuitively know to be valid information. The dots are being connected.
What scares the "people" is that the people need confidence. None of will get it from a presidential speech. Nor will some "expert" assuage your fears.
Gold and silver wont save you. (though they might be fire insurance for a balanced portfolio) I trust God, but I would have been a real rube had I sold everything and given the proceeds to the poor. You all would love for the Christian Right to do just that.
Both you and they will all be poor along with the rest of us. If you want data, find it yourself. I am tired of squawking at you. (and yes, Percy my blood sugar was higher than average last week. I had a UTI but am recovering after seeing the Doctor.) Thanks for your concerns.
Elitists need love too.

Replies to this message:
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Phat
Member
Posts: 18457
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 478 of 668 (918360)
04-28-2024 10:58 AM
Reply to: Message 475 by Percy
04-26-2024 8:08 AM


Re: The Philosophy Behind The Topic
Percy writes:
Confidence is inversely proportional to competence.
I will admit that I am incompetent at finance. That does not mean that I know nothing about how the system works. Nobody has sold me anything except information.
My house is paid. I owe no taxes. (except the usual) I am poor yet content. I am still working.
The philosophy behind this topic is the soundness of investments in an ever changing world.

This message is a reply to:
 Message 475 by Percy, posted 04-26-2024 8:08 AM Percy has not replied

Replies to this message:
 Message 481 by Theodoric, posted 04-28-2024 2:58 PM Phat has seen this message but not replied
 Message 487 by Taq, posted 04-29-2024 11:25 AM Phat has replied

  
Phat
Member
Posts: 18457
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 483 of 668 (918366)
04-28-2024 3:44 PM
Reply to: Message 482 by Theodoric
04-28-2024 3:10 PM


Re: Chicken Little Costs More In Inflated Terms
I dont swear on every word he says, but he makes a case and uses charts from the FDIC to back up his case.
An inverted yield curve is when short term T Bills mature higher than long term T Bills and usually indicates a recession in the future.
I assimilate information differently than you do. You demand data. You need to see college degrees. You trust government "experts". I do not take notes. I listen to many sources but tend to avoid the ones that most of the peanut gallery consider well informed and trustworthy. I believe that our government does not give us any information that would
cause panic, even if the information had validity. Of course precious metals advocates and salesman will push that narrative, and are not afraid of ruffling feathers.
I do not dismiss them only for that reason, however. Why should I expect them to lie in order to sell their product and not expect a government "expert" to do essentially the same thing. Sell the product. Build Back Better.
What *is* the product, however? Is it the United States and what we stand for? Is it Democracy? Is it the Western financial system in general? I am unafraid to ask myself these questions as I question the party line narrative.

This message is a reply to:
 Message 482 by Theodoric, posted 04-28-2024 3:10 PM Theodoric has replied

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 Message 484 by Theodoric, posted 04-28-2024 4:48 PM Phat has seen this message but not replied
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Phat
Member
Posts: 18457
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 488 of 668 (918396)
04-30-2024 8:46 AM
Reply to: Message 487 by Taq
04-29-2024 11:25 AM


Re: The Philosophy Behind The Topic
Taq writes:
Let the experts decide what to invest in, then profit.
Note that the East has its experts and the West traditionally has had theirs. The more I dig the more I find that the topic is political as well as financial. It was the government that weaponized the US dollar, not Wall Street. It was the whales of either political persuasion that began to bet against the dollar rather than with the dollar. One prominant whale, Warren Buffet, was warned to not go public on his investment habits with silver due to fears that his opinion could crash the market. The United States government wants to control the market for two reasons.
  • Gold and Silver are counter cyclical to the US Dollar. A major move in those markets threatens economic stability.
  • The US military uses a lot of silver and it would be in the best interests of the military budget for the supply to be available and ideally cheap when needed.
    Yet it was a Democrat (FDR) who initially directly interfered in the market trade of both gold and silver to stabilize the economy in 1933.
    It was a Republican(Nixon) who separated Gold from the dollar in 1971, a move that was said at the time to be "temporary".
    It was a Republican (Ford) who made it legal to own gold again for the general public. Free enterprise should override government control, in my opinion.
    It was a Republican administration who linked the dollar back up with a solid commodity (Kissinger and the petrodollar) and stabilized it(the dollar)
    The OPEC oil embargo's and OPEC were very much political tools.
    If the Republicans have any sway, the government will steer clear of the COMEX.
    If the Dems have the power, the digital currencies, mandatory taxation and price controls, and excessive government oversight will rile up many a patriot.
    Its like weaponizing the dollar against the precious metal commodities and against your own people.
    And in my opinion, it is like jingoistic patriotism overriding the free markets. Better that we all be sheeple and let the experts guide our investments.
    A government should not be able to nationalize precious metals any more than nationalizing water or air. Im not a full blooded Republican but I am for smaller or more limited scope of government powers and am grateful for a free market economy rather than one choked with manipulation and oversight.
    Thats my rant for this morning...

  • This message is a reply to:
     Message 487 by Taq, posted 04-29-2024 11:25 AM Taq has replied

    Replies to this message:
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     Message 490 by Theodoric, posted 04-30-2024 2:03 PM Phat has replied

      
    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 491 of 668 (918412)
    05-01-2024 3:43 AM
    Reply to: Message 490 by Theodoric
    04-30-2024 2:03 PM


    Re: The Philosophy Behind The Topic
    Theo writes:
  • Do you understand the what is meant by the term "petrodollar"?
    No, not offhand without looking it up. I thought that it meant dollars used in oil trade.
  • Do you think that natural resources and public land should be open to exploitation by anyone that wants to?
    If they own the land, yes. Reason being the next question--->
  • Where do you think the right to own things comes from?
    The free market. Certainly not the government "God" would be my preferred answer. And I know that Uncle Sam is not who I worship.
  • And do they really need to tax every single profit anyone makes, no matter the denomination? If your answer is yes, you know why I oppose your politics. Big government will likely get more authoritarian as it attempts to save the dollar from the decline which QE accelerated initially. I will pledge allegience to the flag at every opportunity but I will NEVER worship it.

    This message is a reply to:
     Message 490 by Theodoric, posted 04-30-2024 2:03 PM Theodoric has replied

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     Message 496 by Taq, posted 05-01-2024 11:01 AM Phat has replied

      
    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 492 of 668 (918413)
    05-01-2024 3:49 AM
    Reply to: Message 490 by Theodoric
    04-30-2024 2:03 PM


    Re: The Philosophy Behind The Topic
    Theo writes:
    Most of your post is word salad and propaganda and ignored.
    I will alert the press that Theodoric ignored my post. It should make the front page!

    This message is a reply to:
     Message 490 by Theodoric, posted 04-30-2024 2:03 PM Theodoric has replied

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    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 497 of 668 (918424)
    05-02-2024 6:13 AM
    Reply to: Message 496 by Taq
    05-01-2024 11:01 AM


    Re: The Philosophy Behind The Topic
    Taq writes:
    It seems to me that the fairest way to tax people is in proportion to their income.
    Income, yes. Wealth, NO. If I had a son and left him $1,000,000. it should not be taxed. If he invested in Gold with the money I left him and the gold doubled in value, Biden wants 40% of the increase. Which is bullshit. Its all in how the taxes are done, however.
    You all got so so mad when the Republicans gave a tax break to billionaires. Others got mad when Biden shut down oil and gas and promised billions to some green new deal.
    Saudi Arabia sure got mad. We essentially told them that our petrodollar deal would decrease trade with them over time. China jumped in front of us bearing gifts and promised them the same deal we got in 1974 (Kissinger) with the promise of buying more oil from them.
    Taq, you do not understand the role of a global reserve currency nor how that role will diminish once the world goes digital. You progressives want the billionaires to pay to build back better. The billionaires could give two sh*ts about Biden, his attempts to control them, or your own jingoism and patriotic defense of the dollar. The billionaires dont need the dollar.
    And some of the common folk refuse to get stuck with "the bill" either. Why you insist that the common folk pay the bill is in violation of the terms of the initial creation of the Federal Reserve, which instituted a small income tax only on the very rich. Now, years later, the taxes are spreading. Once a digital dollar is in place, I could no longer sell my car to a friend "under the table" without paying some sort of homage to Uncle Sam. And I'm not rich enough to leave the country. Im not only stuck with taxes, Im stuck paying the cost of immigration. In conclusion, were I to be honest, I guess i'm mad at myself for not having saved more throughout my life.
    Republicans have no better answers than Democrats, but want the government to allow more free markets and less regulations.
    Democrats seemingly want the government to be a large secular substitute for the church and feed and house everybody. How does that reward those of us who actually worked all of our lives?

    This message is a reply to:
     Message 496 by Taq, posted 05-01-2024 11:01 AM Taq has replied

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     Message 498 by Zucadragon, posted 05-02-2024 6:58 AM Phat has replied
     Message 500 by Percy, posted 05-02-2024 7:58 AM Phat has seen this message but not replied
     Message 501 by Theodoric, posted 05-02-2024 9:33 AM Phat has replied
     Message 505 by Taq, posted 05-02-2024 11:24 AM Phat has not replied

      
    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 499 of 668 (918426)
    05-02-2024 7:34 AM
    Reply to: Message 498 by Zucadragon
    05-02-2024 6:58 AM


    Re: The Philosophy Behind The Topic
    You make some good points. I am far from wealthy. Lots of my anger is at myself, for not saving more in my life. I actually need social security to avoid being on the street. I am a Republican by no means, but I do support freedom to earn a living without being bound by excessive taxation. 6.17% is very reasonable. Im not sure what the rate is here, but my beef is with the suppression of the commodities markets. The big Banks and hedge funds have a vested interest in suppressing the natural market forces that would send these prices far higher.

    This message is a reply to:
     Message 498 by Zucadragon, posted 05-02-2024 6:58 AM Zucadragon has not replied

    Replies to this message:
     Message 503 by Theodoric, posted 05-02-2024 9:41 AM Phat has replied

      
    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 502 of 668 (918429)
    05-02-2024 9:40 AM
    Reply to: Message 501 by Theodoric
    05-02-2024 9:33 AM


    Re: The Philosophy Behind The Topic
    If by that you mean that Percy and you know it better than I do, I firmly disagree. My intuition tells me otherwise. You both are missing this one.

    This message is a reply to:
     Message 501 by Theodoric, posted 05-02-2024 9:33 AM Theodoric has replied

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     Message 504 by Theodoric, posted 05-02-2024 10:55 AM Phat has not replied
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    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 507 of 668 (918436)
    05-02-2024 3:08 PM
    Reply to: Message 503 by Theodoric
    05-02-2024 9:41 AM


    Re: The Philosophy Behind The Topic
    This man, Bart Chilton did have evidence and worked hard to fight the big banks who suppressed the metals.
    Even the US military uses a lot of silver, which would probably sit better with a lower price than a higher price. The US dollar is countercyclical to the metals price.
    This is unfair though to an investor.
    Theo writes:
    Are you ok with all commodities soaring in price or just gold and silver?
    For now, just gold and silver. We do not need higher oil, for example. The BRIC nations aim to break the West's hold on setting the prices. The East wants more say in how the prices are set and what they are set at. Currently, the war between Russia and the US is being fought financially as well as militarily. BRICS backs Russia to a degree. Janet Yellin went around wagging her tongue at Beijing and warning that we would sanction anybody who helped Russia militarily.
    The West can only win a military war if they also win the economic war.

    This message is a reply to:
     Message 503 by Theodoric, posted 05-02-2024 9:41 AM Theodoric has replied

    Replies to this message:
     Message 509 by Taq, posted 05-02-2024 5:23 PM Phat has seen this message but not replied
     Message 511 by Theodoric, posted 05-02-2024 9:44 PM Phat has replied

      
    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 508 of 668 (918437)
    05-02-2024 3:28 PM
    Reply to: Message 506 by Admin
    05-02-2024 1:33 PM


    Re: Moderator On Duty Soon
    Percy writes:
    No one here believes you're describing your understanding of an inverted yield curve. Everyone here believes you looked it up. It's not quite right anyway. We know what you meant when you said "mature higher," but what you really wanted to say is that short term T-Bills currently have a higher yield than long term.
    Yes. If the yield climbs above 5% on either T-Bill, the YouTubers say it will be troublesome.
    Percy writes:
    I don't know why I'm writing this. You're not going to respond to anything that I say. You can only repeat what your YouTube videos tell you.
    No, actually I look up what they tell me and compare it with written sources...like I did with Bart Chilton. I examined the policies of Bart Chilton and how he forced JP Morgan Chase to pay a 900 million dollar fine for manipulating the COMEX.
    Percy writes:
    Saudi Arabia got mad at us why? Because of the 1974 petrodollar deal? Are they really mad at us, or is it just that someone on YouTube said so?
    ‚Äč
    I fact checked this one also. There are indeed two sides to the issue. On the one hand, Saudi Arabia wants to join BRICS. On the other hand, the US and Israel are close to negotiating a deal to protect the Kingdom.
    US and Saudi Arabia Said to Be Near Historic Pact
    OK so you were right. I need to step away from the YOUTUBEto get the full and complete story.
    Taq writes:
    What evidence is there that the US dollar is going to crash?(...) What we are missing from you is some cogent reasons as to why we are heading towards a massive economic downturn.
    Point taken. Many many sources (on YouTube, nonetheless) are saying that the US Dollar will crash...UP. Not down. I am currently searching the media for stories about this.
    Logically, it is not universally known when our government will lose control of the dollar.
    AZ mentions that my sources all have a vested interest in talking as they do. Explain to me how that is any different than a financial advisor urging you to put certain stocks in your portfolio? It is a vested interest of the Wall Street Investment Advisors to keep their businesses growing, you paying them, and indirectly that you do well. By and large, the sources that I listen to are contrarians to mainstream financial advice. Globally, there is differences in agreement on how prosperity should happen and whose people benefit.
    Drama gets clicks. Facts sometimes gets fewer clicks.
    Yes but as people learn the facts, the facts will get more attention in the media unless they threaten the success of the system itself. One thing I know is that none of my YouTubers need YouTube to finance their lifestyle nor do they need to sell more gold. They live in places like Puerto Rico and they lve quite nice.

    This message is a reply to:
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    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 513 of 668 (918442)
    05-03-2024 9:11 AM
    Reply to: Message 512 by Theodoric
    05-03-2024 2:14 AM


    Re: Moderator On Duty Soon
    Theo writes:
    You are not smart enough to understand this issue. Please provide source for the $900 million fine.
    JPMorgan Chase & Co. Agrees To Pay $920 Million in Connection with Schemes to Defraud Precious Metals and U.S. Treasuries Markets
    That came from the Office of Public Affairs.
    I'll take an IQ test against you elitists any day of the week so back off with your personal attacks. I may be undisciplined in regard to providing data, but I have intuition which you lack. Data is all you ever go with. I only hope that you are smart enough to put 5% precious metals in your portfolio.

    This message is a reply to:
     Message 512 by Theodoric, posted 05-03-2024 2:14 AM Theodoric has replied

    Replies to this message:
     Message 515 by Taq, posted 05-03-2024 10:48 AM Phat has replied
     Message 517 by Theodoric, posted 05-03-2024 11:41 AM Phat has replied

      
    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 514 of 668 (918443)
    05-03-2024 9:28 AM
    Reply to: Message 511 by Theodoric
    05-02-2024 9:44 PM


    Re: The Philosophy Behind The Topic
    Theo, getting personal with me writes:
    So you are ok with commodities you like soaring. Fuck people that invest in commodities other than gold and silver.
    Did I say that? Nobody is ever going to get rich on soybeans or copper. The error that I believe you, Taq, and Percy make is that you have an incorrect view of the global monetary system. You see the US dollar as the modern day bedrock. I point out that its an illusion...what you see is quicksand. Percy will claim that I got all of this from YouTube con-men. About the only thing that he has right is that my blood sugar is high. I talk with people in person who are in the industry. I talk with people who are well educated yet much nicer than you guys. You think you know everything! How do I *know*? Because one of you will ALWAYS tell me that *we tried to teach you* but you never listen. Since when are you teachers? You have no more intelligence than I do. My economic sin was gambling. It was an addiction. That aside, I have done my homework.
    AddbyEdit: Precious metals are *not* an investment. They are an insurance policy.

    This message is a reply to:
     Message 511 by Theodoric, posted 05-02-2024 9:44 PM Theodoric has replied

    Replies to this message:
     Message 516 by Taq, posted 05-03-2024 11:02 AM Phat has replied
     Message 518 by Theodoric, posted 05-03-2024 11:44 AM Phat has seen this message but not replied

      
    Phat
    Member
    Posts: 18457
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 519 of 668 (918452)
    05-03-2024 2:05 PM
    Reply to: Message 515 by Taq
    05-03-2024 10:48 AM


    Re: Moderator On Duty Soon
    Taq writes:
    Your intuition told you that the markets should be deregulated.
    I guess what I meant was that the government should regulate them but the government itself should not ever interfere with them. I have no proof that the US Military keeps the price down for national security needs (which would be a nutty conspiracy) but FDR had no right to do what he did in 1933 did he? I mean, c'mon! You and AZPaul3 crow about the ongoing power of the US dollar worldwide, but if the price we Americans paid for that was keeping the price of gold and silver controlled THAT would be unfair.
    What J.P.Morgan Chase did was also wrong and was properly addressed through a large fine.

    This message is a reply to:
     Message 515 by Taq, posted 05-03-2024 10:48 AM Taq has replied

    Replies to this message:
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