Surviving the crash

[Provincial]

I can see cutting the middleman out of electronic payments, but not having the government control my assets. There is a big difference.

Electronic payments can be like a check, or like cash. There are advantages to having it be like a check, such as ability to block payment for a fraudulent transaction. There are advantages to it being like cash, if you are receiving, but if you are paying, the risks are great.

I don't use systems that initiate a payment without my input unless it uses a credit card. Credit cards provide a level of protection against fraudulent transactions, and if you pay them off on schedule, incur no interest. You still pay fees either directly, or hidden in pricing, but you get the protection in return.

 

[ma96782]

Yeah.....with "friends" like France?

Europe Must Reduce Reliance on US Dollar, Says French President Emmanuel Macron - The Daily Hodl

French President Emmanuel Macron says all of Europe should focus on lowering its dependence on the US dollar.

dailyhodl.com

Aloha, Mark

 

[Burt Gummer]

.

 

[ATCclears]

https://mishtalk.com/economics/a-multifamily-apartment-foreclosure-wipes-out-a-3200-unit-building-in-houston

 

[Burt Gummer]

 

[Longwalkhome]

Feds borrowing $6 billion per day, budget group says

freerepublic.com

 

[Provincial]

Something I learned from the 1980's inflation era is that if the Government becomes involved with a failed institution, all contracts involved can be changed or voided with Government approval. That means, for instance, that a CD can be terminated early and the holder has to take the principal and interest out at that point. I had a 10-year CD at 10+% interest and could only get less than half that after a forced roll-over.

This works in the reverse in a case like the present day. Take a 30-year mortgage at 3%. If the bank goes under, your mortgage can be terminated and you will be forced to get a new mortgage at today's higher rates. In many cases, the new holders of the dead banks assets will wait as long as practical to trigger this, for fear of push-back. Eventually, they will have to break the old mortgage in order to remain profitable.

Consumer loans, like car loans, are shorter term and will change faster. People with short-term consumer debt are already being pinched.

Commercial real estate is headed for a train wreck because of this. Earlier posts point this out. Not only will rates increase, but lack of demand, especially in dying cities, will complicate the situation.

 

[Burt Gummer]

^^ The fact that anyone 'trusts' our corporate government with anything these days is astounding actually. 95%+ of governments are under the control of global financial interests now more so than ever before. Our health, our lives, don't even factor in - we are as they call us 'useless eaters.' So get a tent, eat some crickets, and STFU while we spend billions/trillions on proxy wars and resource grabs around the globe + continue to produce next to nothing.

 

[ATCclears]

Today, at the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced their official launch of an international central bank digital currency (CBDC) that strengthens the monetary sovereignty of participating central banks and complies with the recent crypto assets policy recommendations proposed by the IMF.

Universal Monetary Unit (UMU), symbolized as ANSI Character, Ü, is legally a money commodity, can transact in any legal tender settlement currency, and functions like a CBDC to enforce banking regulations and to protect the financial integrity of the international banking system.

Banks can attach SWIFT Codes and bank accounts to a UMU digital currency wallet and transaction SWIFT-like cross-border payments over digital currency rails completely bypassing the correspondent banking system at best-priced wholesale FX rates and with instantaneous real-time settlement.

The Digital Currency Monetary Authority (DCMA) Launches an International Central Bank Digital Currency (CBDC)

/PRNewswire/ -- Today, at the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced their official...

www.prnewswire.com

 

[Burt Gummer]

Despite his pic on the clickbait, NOT political. Subject is new Global Central Bank digital currency quietly started.

 

[Jay Walk]

Use your dollars NOW to purchase durable goods.

 

[Burt Gummer]

^^ Yes. Jay Walk absolutely. Been preaching this for a couple years. ^^^

Everyone takes for granted that they have some financial freedom right now. All that will be gone. Criticize gov, refuse to turn in your firearms, insert any demands here { } and your social and credit score is tanked. Agree to the poke or forget about paying bills or buying groceries. Only probable time delay strategy is to move to a country backward enough that it doesn't have the tech on hand to enslave you. WEF says no person will be entitled to more than 450sq ft living space so I guess it is van life again or accept borders..

Nothing, including the 2a, is comparable on any level to the forced gov crypto and the end of cash. Seizure of bank funds. I mean talk about neutering the populace in one stroke. No coming back from that. At least the Chinese are kind to each other and get health care etc. Here it will be like Mad Max or Planet of the Apes. So many locked away from being able to buy food or have a place to sleep so their only course to survive? Violence

 

[Mono1]

^^ Yes. Jay Walk absolutely. Been preaching this for a couple years. ^^^

Everyone takes for granted that they have some financial freedom right now. All that will be gone. Criticize gov, refuse to turn in your firearms, insert any demands here { } and your social and credit score is tanked. Agree to the poke or forget about paying bills or buying groceries. Only probable time delay strategy is to move to a country backward enough that it doesn't have the tech on hand to enslave you. WEF says no person will be entitled to more than 450sq ft living space so I guess it is van life again or accept borders..

Nothing, including the 2a, is comparable on any level to the forced gov crypto and the end of cash. Seizure of bank funds. I mean talk about neutering the populace in one stroke. No coming back from that. At least the Chinese are kind to each other and get health care etc. Here it will be like Mad Max or Planet of the Apes. So many locked away from being able to buy food or have a place to sleep so their only course to survive? Violence

.

 

[Longwalkhome]

We dont really know what's true in the media, only what it really cost to live. I started the thread when fuel and energy prices got to high because we can't live without energy.

Ukrainian war changes the flow of energy and our money is losing value quickly. The world is reacting to high energy prices and the dollar suffers, you guys know that.

What I am posting could be a real downward turn in our future...if it's true.

China v Taiwan – The Draft Begins

freerepublic.com

You should ask yourself why China is starting a draft for their military, a full war footing.

 

[Burt Gummer]

The only major power that is behind just about every war is US. We have bases everywhere on the globe. China and Russia do not. Our tool of choice is propaganda - making others appear to be wanting WWIII when as usual, it is US.

Once other countries reject the dollar our Empire's collapse will be expedited.

 

[Burt Gummer]

We are indeed witnessing the slow collapse of society now on every level, all by design. Interesting times to be alive.

People that are assaulting others on the street for no reason are not only not arrested now, but gov't supports it as a right

 

[Mono1]

You should ask yourself why China is starting a draft for their military, a full war footing.

Statistically Presidents rarely lose elections during war time. The Neocons currently in power in Washington believe the only hope the current administration has of staying in power is to involve the country in a war no later than early 2024.

Worst case, we see a simultaneous coordinated effort by North Korea to attack South Korea, China to attack Taiwan, and Putin refusing to relent in Ukraine. Iran & Saudi is another possibility.

Gonna be fun watching all the Bitcoin fans try to do barter after the power grid goes down.

 

[Burt Gummer]

Nations are lying up to dump the Petro US dollar as the reserve. You know, as in why we had to take out ME countries who tried to do it 20 years ago. But will our empire be so desperate as to really start wars with Russia and China in total desperation? Time will tell.

20 years ago a friend of mine was angry about the Iraq war and I explained to him why it was happening and did he really want to live in a third world economy? - get your cardboard box and find an underpass - that shut him up fast. Now, we are back at it again but China/Russia is a far cry from Iraq/Libya, etc.

BRAZIL's President as well as others:

 

[Burt Gummer]

 

[sobo]

TL;DW. What's the Cliff Notes version?