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Unpopular Opinion Thread: Re the Fed, Congress, 'Compassionate Conservatives', Dollars, Gold, Bitcoin, Firearms, and whatever else comes to mind
The irony of many sophisticated thinkers here complaining about the Fed debasing the Dollar and the latest call from GS about the $'s waning status as Global Reserve Currency is rich with irony.
For years those on the 'right' 'True Conservatives' have espoused big central gov't transfer payments to all that ails us, think SNAP, EBT cards, WIC, Medicaid, Dept. of Ed, Dept. of Labor, etc. combined with corporate TARP, Ex/Im banks, etc.
On top of the domestic spending run amok we've piled Global Security Force, shining city on a hill as viewed from the bow of an aircraft carrier and soft global occupation in a defense industry equally run amok. It isn't guns or butter it is guns AND butter.
Of course nobody wants to pay for this so it has been funded with unimaginable sovereign debt issuance that until around 2014-2015 was globally sanitized, but after that not so much.
Now comes a very bad flu, deadly to some who are out of shape, in poor health, and our silver citizens and it is used as reason to exceed all Constitutional limits on gov't at any level and to begin monetizing the debt in the open.
'Compassionate conservatives' and the rest of the Congressional cohort adhere to their prostituted view of Keynes and spend with abandon as J. Powell begs them to do more. All restrictions on the Fed are abandoned in the name of 'stability'.
Now the same cohort who espoused 'more fiscal' are rending garments and gnashing teeth when their high priest at Goldman Sachs mentions their precious fiat currency may be going in the toilet.
The Dollar is declining precipitously, at least for a while, and gold is ripping. Questions are being asked about the ability of sovereign, corporate, and municipal debt to retain purchasing power in the avalanche of newly created bank reserves.
What if the Dollar decline continues, our purchasing power erodes, etc.? Welcome to the ultimate flat tax that hits everyone, except the narrow minority who are hedged with assets that benefit from this profligacy. 'Someone else' pays for it is us, now.
To all those who think a debt funded, extra-Constitutional welfare state via 'New Deal', 'Great Society', GSE's, EITC, etc. is nirvana we are now beginning to get what was coming - good and hard. You thought the alligator would eat you last, guess again.
To all those who respond 'Got Gold?' You had better mean got it physical, on your person, so that you may keep both hands firmly on your firearm. Portland, Seattle, NYC? That is coming to your neighborhood and you are not ready. Your long $GC_F or $GLD is meaningless.
And for the 'Bitcoin solves this' folks. The NSA et al have meta data for every call, text , tweet, etc. you've composed or received. Their paymasters have a monopoly on currency. Do you think when it matters they will allow you network access, electricity, etc.? See previous.
I've never feared those who tell me to my face they don't like me, my values, etc. and want to take my property and earnings. I respect them for doing so. The evil lies in those who espouse compassion, etc. with other people's money as though they are your friend.
May your Bible be worn, your body fit, your gun oiled and loaded. Those that promised us we could have endless benefits to assuage the masses are now beginning to give all of us who believed them our due and Goldman is just sounding the first alarm.
@SantiagoAuFund @LukeGromen @jlockett02 @spengjr I respect and enjoy your work here. You may have some interest herein.
