They’re gonna reset the entire system soon with digital currency. The game is over. They either kill the currency or collapse the entire stock/bond/housing/etc markets
I was there in 1979-1980s to see and FEEL the effects. In fact my first mtg in 1983 had an interest rate of 18%, so I understand well how this debt slavery works!
There is much argument about what is going to happen. My parents lived through the Great Depression and I was starting a career during Volkers term. I can tell you that regardless of the instrument (fiat/gold/digital) or the mechanics (inflation/deflation/jubilee) we need a reset to an equitable possibility system. Young people can't afford a starter home, vehicles and repair prices are obscene and many people spend half their retirement nest egg on an RV and the lots are still overflowing with them. Medical Insurance is $2000 a month for a family of four. Our capitalist system can work but it has been abused by fractional reserve banking and market manipulation. Bridges are past their life expectancy, tunnels and railroads are degrading and cities give the money to invaders instead. Its more than a money issue; half of the government appears to be unpatriotic to the country our fathers fought for. I believe the shit show is imminent
Medical Insurance is $2000 a month for a family of four....Wow!
Up here in Canada we pay $0 Zero$.
In the past 5 years I had hernia surgery and had both of my hips replaced and it cost me 0$ and nobody up here in Canada has died waiting for surgery but your corrupt lying politicians say they have...
Did he/she have the surgery during covid? My first hip was Dec. 2019 and the second was scheduled six months later but it happened 9 months later cuz of covid and I did not die and I have no pain today...Wow
Yes, that was my latest quote here in NJ when I considered going back in private work this year. Unfortunately because of the cost I cant, and must continue as an employee to get 67% employer paid program. There is something good to be said for a social safety net and free medical care. I don't see why we could not do this and allow the wealthy to select their own care, as long as they contribute to the program. I am ready for anybody that wants to attack with "this isnt a socialist country!"
the BIG difference now is that technology will help accelerate. It will NOT take a decade to work through as it did in the 70's. High mortgage rates at that time meant that a house was ONLY $50-75K. The loan was payable. NOW....they lowered rates and thus PRICES of cars and houses went UP, UP, UP.... Now we are ALL SCREWED.
The only thing left for those still living is a complete currency collapse which will be triggered when the debt growth exceeds GDP, violating requirements needed by an exchange economy.
In a market, there is no competing with slavery or free labor. Entities that receive funds from a money printer, even if its in the form of debt, are still receiving slave labor.
Legitimate business must have a loss function in their business model where profit is attainable to allow for exchange. John Hancock dealt with the same issues in his time, which lead to him being forced by circumstance to join up with the Sons of Liberty in the years leading up to 1776.
It will of course take some time to fully collapse after that point, but that marker is a point of no return with chaotic distortions growing from that point forward. Failure of exchange leads to failure of production (food), and famine, and death.
I remember 1983: my wife and I, on just $16,000 annual income, qualified for a new $64,000 house at 15%. We were able to survive for that decade as rates came down and our income rose. Our long term savings was earning 11-12% so that helped offset the high mortgage rate.
We don’t want this damnable fiat currency system saved. It’s the bankers system & no hood has ever come from it. Only mega theft & destruction. It’s demonic. When it fails, the Lord will provide a much better monetary system for America & His children will be well taken care of
Gregg, you are absolutely correct about this, but you missed a few things that are important. There were two things that contributed to the last positive outcome.
Volcker did raise rates, but additionally, we also established a monopoly through the petrodollar agreement, which called for much higher demand for the dollar abroad. The latter is primarily what shrunk inflation at the time.
Importantly, this situation is no longer the case, in fact its quite the opposite where the dollars originally printed to facilitate demand and held abroad, are now coming home to roost with the Saudi Abandonment of the petrodollar agreement (2022/2023).
Additionally, the only thing holding the banks in line was the reserve requirements, not interest rates, and reserves are no longer in effect. With the adoption of Basel 3 (modified gaap), this allows infinite expansion by private parties with its loopholes based on objective value.
Since no new banks can be chartered without corruption all banks will fail in the near future leaving a depressionary debt crisis, which will be but so large that the deflationary debt crisis of 1929 will be but a speck in comparison. There is a very real possibility all exchange will break down, followed by famine.
I was around in 1979 and it wasn't pretty. Mortgages up to 18%. Anything close to this will crush this economy with the unreal amount of government and consumer debt today.
I bought my first home at 24 in 1976. I paid 27,900 and the payment PITI was $275! I also started selling real estate at that time due to the quality of agent I experienced during my year plus of looking.
I sold that house in the spring of 1978 for $52,500. Shortly after Volker started raising rates the real estate market was as if a switch had been shut OFF.
I remember buying a 6 month T-bill that paid 15% in 1979.
After that I packed up and moved to Az where I got into my business in 1981! In between I spent almost a year gambling in Las Vegas
Greg, won’t the increase you’re calling for trigger the collapse in the commercial real estate market, then the residential market soon after. Housing pricing would have to fall due to the sheer unaffordability of a single family home. It’ll be a cash buyers market. Warren Buffet?
We're moving to a new gold/silver/crypto-backed system. Debt should be wiped out for multiple reasons, but mainly because it's not ours. All eyes are on DOGE discovering trillions missing, stolen, and laundered off the back of Americans by the criminal faction infesting our government agencies. Those trillions is just the tip--there is much more to be revealed. The Babylonian Structure is collapsing. God is resetting the entire system. Legacy wealth will be returned to the generations.
They’re gonna reset the entire system soon with digital currency. The game is over. They either kill the currency or collapse the entire stock/bond/housing/etc markets
Hoping the stock markets tank and along with those 401Ks.
Agreed! Buy gold and silver American coins now!
I was there in 1979-1980s to see and FEEL the effects. In fact my first mtg in 1983 had an interest rate of 18%, so I understand well how this debt slavery works!
Get some precious metals while they’re still obtainable.
There is much argument about what is going to happen. My parents lived through the Great Depression and I was starting a career during Volkers term. I can tell you that regardless of the instrument (fiat/gold/digital) or the mechanics (inflation/deflation/jubilee) we need a reset to an equitable possibility system. Young people can't afford a starter home, vehicles and repair prices are obscene and many people spend half their retirement nest egg on an RV and the lots are still overflowing with them. Medical Insurance is $2000 a month for a family of four. Our capitalist system can work but it has been abused by fractional reserve banking and market manipulation. Bridges are past their life expectancy, tunnels and railroads are degrading and cities give the money to invaders instead. Its more than a money issue; half of the government appears to be unpatriotic to the country our fathers fought for. I believe the shit show is imminent
Medical Insurance is $2000 a month for a family of four....Wow!
Up here in Canada we pay $0 Zero$.
In the past 5 years I had hernia surgery and had both of my hips replaced and it cost me 0$ and nobody up here in Canada has died waiting for surgery but your corrupt lying politicians say they have...
I know friend in Canada that had to wait almost a year for a hip replacement.
But he/she did not die waiting for surgery.
Did he/she have the surgery during covid? My first hip was Dec. 2019 and the second was scheduled six months later but it happened 9 months later cuz of covid and I did not die and I have no pain today...Wow
Yes, that was my latest quote here in NJ when I considered going back in private work this year. Unfortunately because of the cost I cant, and must continue as an employee to get 67% employer paid program. There is something good to be said for a social safety net and free medical care. I don't see why we could not do this and allow the wealthy to select their own care, as long as they contribute to the program. I am ready for anybody that wants to attack with "this isnt a socialist country!"
https://www.abi.org/feed-item/health-care-costs-number-one-cause-of-bankruptcy-for-american-families
Canada is not a socialist country!
At present it borders on communist.
the BIG difference now is that technology will help accelerate. It will NOT take a decade to work through as it did in the 70's. High mortgage rates at that time meant that a house was ONLY $50-75K. The loan was payable. NOW....they lowered rates and thus PRICES of cars and houses went UP, UP, UP.... Now we are ALL SCREWED.
The only thing left for those still living is a complete currency collapse which will be triggered when the debt growth exceeds GDP, violating requirements needed by an exchange economy.
In a market, there is no competing with slavery or free labor. Entities that receive funds from a money printer, even if its in the form of debt, are still receiving slave labor.
Legitimate business must have a loss function in their business model where profit is attainable to allow for exchange. John Hancock dealt with the same issues in his time, which lead to him being forced by circumstance to join up with the Sons of Liberty in the years leading up to 1776.
It will of course take some time to fully collapse after that point, but that marker is a point of no return with chaotic distortions growing from that point forward. Failure of exchange leads to failure of production (food), and famine, and death.
I remember 1983: my wife and I, on just $16,000 annual income, qualified for a new $64,000 house at 15%. We were able to survive for that decade as rates came down and our income rose. Our long term savings was earning 11-12% so that helped offset the high mortgage rate.
We don’t want this damnable fiat currency system saved. It’s the bankers system & no hood has ever come from it. Only mega theft & destruction. It’s demonic. When it fails, the Lord will provide a much better monetary system for America & His children will be well taken care of
Gregg, you are absolutely correct about this, but you missed a few things that are important. There were two things that contributed to the last positive outcome.
Volcker did raise rates, but additionally, we also established a monopoly through the petrodollar agreement, which called for much higher demand for the dollar abroad. The latter is primarily what shrunk inflation at the time.
Importantly, this situation is no longer the case, in fact its quite the opposite where the dollars originally printed to facilitate demand and held abroad, are now coming home to roost with the Saudi Abandonment of the petrodollar agreement (2022/2023).
Additionally, the only thing holding the banks in line was the reserve requirements, not interest rates, and reserves are no longer in effect. With the adoption of Basel 3 (modified gaap), this allows infinite expansion by private parties with its loopholes based on objective value.
Since no new banks can be chartered without corruption all banks will fail in the near future leaving a depressionary debt crisis, which will be but so large that the deflationary debt crisis of 1929 will be but a speck in comparison. There is a very real possibility all exchange will break down, followed by famine.
100% immediate action is needed!
they want this to break. how else is this explainable.
The CPI was calculated differently in 1979. What would happen if you used the futon Shadow Stats?
Oh but the crypto will save us - ha ha ha ha
Bitcoin is fool's gold.
I was around in 1979 and it wasn't pretty. Mortgages up to 18%. Anything close to this will crush this economy with the unreal amount of government and consumer debt today.
I bought my first home at 24 in 1976. I paid 27,900 and the payment PITI was $275! I also started selling real estate at that time due to the quality of agent I experienced during my year plus of looking.
I sold that house in the spring of 1978 for $52,500. Shortly after Volker started raising rates the real estate market was as if a switch had been shut OFF.
I remember buying a 6 month T-bill that paid 15% in 1979.
After that I packed up and moved to Az where I got into my business in 1981! In between I spent almost a year gambling in Las Vegas
Where I was living at that time you could buy houses all over town for $1.00 as people were desperate to avoid default and bankruptcy.
Greg, won’t the increase you’re calling for trigger the collapse in the commercial real estate market, then the residential market soon after. Housing pricing would have to fall due to the sheer unaffordability of a single family home. It’ll be a cash buyers market. Warren Buffet?
6.66%
oh and SHARED!
We're moving to a new gold/silver/crypto-backed system. Debt should be wiped out for multiple reasons, but mainly because it's not ours. All eyes are on DOGE discovering trillions missing, stolen, and laundered off the back of Americans by the criminal faction infesting our government agencies. Those trillions is just the tip--there is much more to be revealed. The Babylonian Structure is collapsing. God is resetting the entire system. Legacy wealth will be returned to the generations.