Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.
Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!
It was comical before but this whole UFO nonsense leads me to believe we are being trolled.
Hopefully this slows down demand for houses and brings prices back to earth. In the DC area things are insane. My daughter has been trying to buy a house for 3 years and they constantly get outbid. Everything goes for way over ask. Last weekend a house came on the market for 600. They bid 650 and one of the other 4 offers was 690. This was all within a 24 hr period. Lots of frustration out there from people who are in the same boat. Part of the problem I see is that so many are buying for rentals now. They had been renting for 3 years for 2900. They wanted to re up for 2 more years. landlord said 3600 and would only extend for 30 days. Lots of places also only want to do 6 month leases because rents are going up so fast.
That's Pal I believe? The guy who is so big on Bitcoin? The electronic asset developed by the govt?Paper Assets: According to Raoul, derivates, ETFs, and other levered products are built like a house of cards. Take gold for example… “Gold becomes a financial asset as opposed to a real asset,” says Raoul. “Physical gold in the system is now just collateral for this huge 100x leveraged ecosystem… When central banks take ownership of physical gold, price collapses instead of going up — because they’re removing the collateral from the system.”
OK, splain this to me like I am 5 years old.
Buy silver as a hedge?Hopefully this slows down demand for houses and brings prices back to earth. In the DC area things are insane. My daughter has been trying to buy a house for 3 years and they constantly get outbid. Everything goes for way over ask. Last weekend a house came on the market for 600. They bid 650 and one of the other 4 offers was 690. This was all within a 24 hr period. Lots of frustration out there from people who are in the same boat. Part of the problem I see is that so many are buying for rentals now. They had been renting for 3 years for 2900. They wanted to re up for 2 more years. landlord said 3600 and would only extend for 30 days. Lots of places also only want to do 6 month leases because rents are going up so fast.
A recession is badly needed but the fed gov keeps spending like drunken sailers. Politicians cant afford their rents in DC? No problem, they pass a law so that we pay the rents for them.
Best interview I have heard in awhile. Real big picture stuff.
That's Pal I believe? The guy who is so big on Bitcoin? The electronic asset developed by the govt?
It's entirely logical. The velocity of money shit the bed when everyone (and the economy) was essentially locked down during C19. Once normalized economic activity resumed, velocity spiked as folks had some pent up desires to get out and enjoy things (and having extra stimulus funds sloshing around didn't hurt either!).Interesting...
View attachment 9602
Fitch Ratings downgraded the United States' long-term foreign currency issuer default rating to AA+ from AAA on Tuesday, pointing to "expected fiscal deterioration over the next three years," an erosion of governance and a growing general debt burden.
"The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management," said Fitch.
...
It's entirely logical. The velocity of money shit the bed when everyone (and the economy) was essentially locked down during C19. Once normalized economic activity resumed, velocity spiked as folks had some pent up desires to get out and enjoy things (and having extra stimulus funds sloshing around didn't hurt either!).
Getting some fills in SILJ this morning. We'll see how smart this is.
Fitch downgrades U.S. long-term rating to AA+ from AAA
The rating agency cited "expected fiscal deterioration over the next three years."www.cnbc.com
Curious timing. The debt limit debacle is old news...
...and now?
I think there are a lot of folks buying the Fed's coolaid about no recession and aren't adopting a defensive position with business or consumer spending. Lot's of Alfred E. Neumans out there ("what, me worry?"). I could be wrong though.
It's called inflation guys. They are probably having to start monetize the debt. Not enough buyers anymore.
It is categorically a deflationary period.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?