The Fantasy of Central Bank "Growth" Is Finally Imploding

of two minds.com ^ | 27 august 2019 | charles hugh smith

[amorphous]

The only "policies" central banks have is to issue more credit at negative interest rates,
i.e. doing more of what's failed spectacularly, until the entire rickety travesty of a mockery of a sham collapses.

[AndyJackson]

central banks have no way out of the corner they've painted us into

This is not true. Von Mises instructed us a century ago that there are two ways out: 1. Hyperinflation 2. Credit collapse and default.

[amorphous]

✏The Creature from Jekyll Island Book Summary : Traces the
history of the Federal Reserve, revealing how the American
government has used the Reserve as a way to deceive
taxpayers and control the global economy and explaining
how the Reserve influences the flow of money between citizens,
businesses, banks, and the government.

[Red Badger]

[Lurker]

“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abondonment of further credit expansion, or later as a final total catastrophe of the currency involved.” Ludwig Von Mises

L

[Nuke From Orbit]

fantastic read. Highly recommended to help understand the current and past goings on with house of cards.

[amorphous]

Gold, silver, and platinum are doing well.

[amorphous]

Luckily for us, our current President is "the king of debt.". :)

[Mariner]

Money is the cheapest I’ve seen it in my lifetime.

30yr mortgages and refis are at 3.00%, no points.

If nothing else, lock that in NOW even if you take no equity out.

When the inevitable collapse comes nobody is going to pay back anything anyway.

[amorphous]

Probably good advice, contrarian to popular belief, as long as it's a fixed interest and you will always have a means of making a payment.

Certainly one shouldn't have everything just in dollars - just too easy for the Fed to print more.

Necessities for subsistence first, then diversify what's left, IMO.

[Tilted Irish Kilt]

Prepper Finance : Understanding the upside-down world of current world economcs,
where inverted yield and zero percent banking interest leads to a 'House of Cards'.
The fall from the bubble is inevitable.

Nuke From Orbit: "fantastic read. Highly recommended to help understand the current
and past goings on with house of cards."
Mariner :" Money is the cheapest I’ve seen it in my lifetime.
30yr mortgages and refis are at 3.00%, no points.
If nothing else, lock that in NOW even if you take no equity out.
When the inevitable collapse comes nobody is going to pay back anything anyway."

Boy Scout motto :" Be prepared"
OODA loop : " It is a learning system, a method for dealing with uncertainty,
and a strategy for winning head-to-head contests and competitions.
In war, business, or life, the OODA Loop can help you grapple with changing,
challenging circumstances and come out the other side on top."
OODA source : https://www.artofmanliness.com/articles/ooda-loop/

[Rusty0604]

Thanks for posting.

[NELSON111]

I’ve wanted to get that book for a while. Is it worth the price?

[Rusty0604]

Thanks for the ping.

[Jim Noble]

And Elizabeth Warren is there to pick up the pieces.

The Third Bank of the United States is doomed to follow the first two down the drain.

[Toddsterpatriot]

It's full of stupid errors.

I had to stop reading it.

[Jim Noble]

When the inevitable collapse comes nobody is going to pay back anything anyway

I've been counting on that for 50 years.

So far, the guys with many little green slips of paper are kicking my ass.

[grania]

There's another way out for awhile. Modern Monetary Theory is that money doesn't need backing, that it's okay for govs to just keep making the stuff out of nothing. Since the debt can never be paid off, the next step might be to abolish physical money, abolish debt, and put a credit into everyone's account each month.

That actually might work until it doesn't.

[grania]

I’m thinking be debt free, have some cash on hand and cash in an easily accessible bank account, have an asset that would be easily bartered in a real crisis (silver?) and have everything in good repair. Don’t need anything. I suspect that even in a financial meltdown the basics will be available if one has cash for them.

[NELSON111]

Excellent. Thanks. Glad I didn’t buy it.