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 Replies: 61 / Views: 7,755 |
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Valued Member
United States
110 Posts |
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The entire world is ADDICTED to buying US debt. The entire world USED to be addicted to buying US debt. The BRICS have been buying gold like crazy lately. And Russia is now dumping its treasury bonds. http://www.dailypaul.com/333892/rus...-in-december |
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Bedrock of the Community
United States
10982 Posts |
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Again, as a percentage of GDP, our debt has been higher in the past during times of significantly higher interest rates. We got along fine without defaulting. This is true. But currently our National debt is on the launch pad and set to explode to the moon. A slight temporary downturn in debt growth means nothing in the long run. 51% of American households are now low income and 51% receive Government aid. It's not the exact same 51% but there's a lot of overlap and this is the fasting growing group of Americans. Again, ignore it or remain unaware if you choose. Washington D.C. is well aware of the enormous structural problems in our economy and what will happen. 90% of America will have to accept a much lower standard of living in the future and that future is starting now. |
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Valued Member
United States
110 Posts |
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Again, ignore it or remain unaware if you choose. Washington D.C. is well aware of the enormous structural problems in our economy and what will happen. 90% of America will have to accept a much lower standard of living in the future and that future is starting now. I really hope that I would be in that 10%. I already live pretty frugally. But I am also preparing for a steady decline of our economy. |
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Pillar of the Community
United States
3789 Posts |
Sorry but Russia is not dumping bonds nor dollars. Nor are any other countries.
Furthermore, all the countries in the world are locked in, perpetually to buy US Debt. IF any country unloads all their dollars or T-Bill holdings, it will impact their initial purchases and that is something they cannot afford to do. China will NEVER sell their entire holdings. They will always have to be active participants in the bond offerings.
So dont kid yourself, Russia will NEVER EVER dissolve their entire dollar and T-Bill holdings, if anything, they will be net buyers. Nor will any other country.
It is all about King Dollar baby! :D
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Pillar of the Community
United States
1391 Posts |
 I wish there was some middle ground between yup's jingoism and the post-apocalyptic wasteland survivalism. |
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Pillar of the Community
United States
3789 Posts |
well the history, which cannot be denied and the truth is, that betting against the United States never works,never has, and never will.
The entire world needs the US. Every single time people have said the USA is done, guess what,,, it rebounds and comes back. Negativity, skepticism, never triumph over optimism and positivity.
therefore, to say the USA is going to collapse, that the dollar is done, is wrong and will never happen.
I mean after all, why are people of all countries trying to get here, year after year?
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Pillar of the Community
Canada
2019 Posts |
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I mean after all, why are people of all countries trying to get here, year after year? Probably trying to run away from drones and bombs being dropped on them in their own country. |
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Pillar of the Community
Canada
3692 Posts |
"Cash is king" is a saying, but "king dollar", I haven't heard anyone say that.
"never has, and never will"... Murphy's Law, just because it hasn't doesn't mean it never will. Given enough time everything will fall. Never say never, it makes one look silly. As an example relevant to the discussion, gold, as a metal, will always outlast paper, even if we as a species are not around to put a value on it. Use words like "likely", or "mostly", using words like "never" and "definitively" (etc.) is short-sighted and one cannot reverse it.
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Bedrock of the Community
Australia
21788 Posts |
I have owned strictly numismatic value gold since the late 1960's, and have seen gold bullion go through all of it's value fluctuations since then.
Gold is simply another metal to me, that has an equally legitimate place in my collection as any other metal.
Have about 30 numismatic valued gold coins in my collection, perhaps 8 or 10 of them over 1,000 years old.
I have about 40 World crown sized coins that have a mostly bullion value in them, and about 20 strictly numismatic value crowns. None of them were originally intended as bullion only coins.
Also have an MS61 common date St Gauden's $20 for it's artistic merit, and a one ounce platinum Koala. I have had both of those for 25 years or more. The Pt Koala is strictly an NCLT bullion value only coin.
It is interesting to note the declining silver content in Roman coins over a period of three centuries as inflation gradually took over, and as the Roman Empire gradually lost political power.
I guess that I am one of the 75%.
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Pillar of the Community
Australia
7096 Posts |
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Pillar of the Community
Canada
2019 Posts |
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It is interesting to note the declining silver content in Roman coins over a period of three centuries as inflation gradually took over, and as the Roman Empire gradually lost political power.
So if the US starts lowering their silver fineness its the start of the Decline. Watch for it People!  Didn't this already happen back in the 60s when they removed silver from their coins, so I guess the decline has started back then. ohhh. Edited by Northerncoins
02/22/2015 04:55 am
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Pillar of the Community
United States
4333 Posts |
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So if the US starts lowering their silver fineness its the start of the Decline. Watch for it People!
Didn't this already happen back in the 60s when they removed silver from their coins, so I guess the decline has started back then. ohhh. Uh, yeah. Didn't Canada remove silver from their coin earlier than the US? When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
Canada
2019 Posts |
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Uh, yeah. Didn't Canada remove silver from their coin earlier than the US? Correct, Slow decline all around. Edited by Northerncoins
02/22/2015 11:38 am
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Valued Member
United States
110 Posts |
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Didn't this already happen back in the 60s when they removed silver from their coins, so I guess the decline has started back then. ohhh. Yup you nailed it! In the 1950's an uneducated male could support his wife and 4 kids only working one job. The wife could stay home and raise the kids properly. The man also could work his 30-40 years and retire. That is far from the norm these days, where both partners have to work and are lucky if they get to retire. So yeah, we have certainly declined since then. |
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Pillar of the Community
 United States
1662 Posts |
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Uh, yeah. Didn't Canada remove silver from their coin earlier than the US? Nope. U.S. 1964 Can. 1967 80/20 - 1968 had reduced comp. of 50/50 silver/copper |
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Replies: 61 / Views: 7,755 |
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Posted 02/20/2015 1:44 pm
