The state cannot tax beyond the Laffer Limit forever, and it cannot run enormous deficits forever.
We have more urgent fish to fry than the deficit — nothing is going to be fixed until the deep state is behind bars and there are tanks in Harvard, and I suppose our enemies feel even less urgency about the deficit, more important to them to kill all “fascists”. Indeed right now they are confronting Trump on the principle that we should be printing even more money and giving it to illegals.
If we don’t get the deep state behind bars and tanks in Harvard fairly soon, country is going broke. And thus, the Great Debasement Trade. Markets are starting to bet on the US$ going away.
In the past 365 days, gold and bitcoin has risen relative to the dollar by almost the same amount
But, there can only be one. Bitcoin is the one true crypto currency, but gold is gold. And now the end game is coming in sight.
Gold has the huge advantage over Bitcoin that every central bank wants to use gold because every other central bank has gold. And right now, Gold is probably a better investment. But in the long run, Gold has the huge disadvantage over Bitcoin that it is hard to move it around safely, and hard to store it safely. In the long run, Bitcoin will replace Gold and the Dollar for international settlements, which will lead to an approximately ten fold increase in the value of bitcoin.
As for right now? If you are continually moving money around in the market place, probably wisest to invest in gold — but given that you are betting on the apocalypse, if your bet pays off, paper gold is going to go up in smoke. So you probably should not bet on being able to move money around in the market place indefinitely without it being stolen. So you would need to buy physical gold and bury it somewhere. And when the apocalypse happens, probably even harder to dig it up and move it around.
So, move fiat dollars into bitcoin rather than gold, even though in the next couple of years, it is likely that gold will appreciate considerably more than bitcoin.
You will probably get more appreciation during the next year or two on your investment funds at the broker if you put them in a gold etf than a bitcoin etf — but when the proverbial hits the fan, the government will probably introduce a retroactive tax on nominal capital appreciation, which by that time will be running at a thousand percent a year, and the government will insist that even though you have invested in gold and bitcoin, you can only withdraw in dollars, and you are going to find that no one will give you eggs for dollars. If it is a choice between a gold etf and a bitcoin etf, the gold etf is probably going to appreciate more over the next year or two, but they are both likely to disappear.
A bull market in gold and bitcoin is a bear market in trust.
If it is a choice between physical gold buried in a hole in the ground and bitcoin in cold storage in a paper wallet, well, bitcoin in cold storage is a lot more convenient than physical gold in a hole in the ground.
Own some crypto with Coinbase, but haven’t a clue yet on how to select/use a cold wallet. Some research ahead, I guess.
I’ve repeated that owning a bitcoin etf is very different from owning a bitcoin wallet for years now, to everyone who wants to hear it. Not too many people, unfortunately! Well they hear the argument and tend to even agree with it, but pff, setting up a wallet, that sounds difficult. Sloth’s a killer.
Markets are premature. The GAE is going to squeeze every last drop out of its vassal states long before the dollar starts its real decline. Despite everything, there is a lot of ruin left in the outer empire, and they will collect every last bit of it.
Lots of potential loot should we manage to install a friendly client in Venezuela. The cost to do so may be relatively insignificant as well. Paired with cutting off expensive fringes of the empire, would go a long ways to kicking the can down the road.
Then again, there are also a bunch of NGOs and other funds close to home that should be liquidated. Not only are they funding leftism, they are a general drag on the economy.
What does debasement mean for stocks? There is still inherent value in owning a slice of productive industries and demand, which may decline in economic downturns, remains so long as humans have needs and desires. Would not a shift to bitcoin simply mean a revaluation of stocks to the new currency? As such, I still see reason for inveating in the markets if only as a means of diversifying wealth. That said, the million
dollarbitcoin question is: what industries?When a government runs out of credit, it will inflate and tax everything it can. Any assets you visibly own will be taxed for nominal capital appreciation. Germany has done so several times, and the laws kept getting harder and harder to dodge. I expect the next equalisation of burdens act (Lastenausgleichsgesetz) to be even harder to dodge.
Gold buried in a hole in the ground and bitcoin are not visible. Very difficult to tax. Real estate and stocks are very easy to tax. The government can tax such such things way above the Laffer limit or even confiscate them entirely.
Unfortunately it is still difficult to spend gold or Bitcoin on local transactions; if you have to convert it to fiat before being able to use it, then that will be taxed as a capital gain, also far above the Laffer limit.
Of course the bet is that the dollar goes away entirely, or becomes entirely worthless, making way for hard currency to be exchanged directly for goods, or surreptitiously traded for spot-priced fiat by corrupt officials who won’t ask where you got it as long as they get a cut. The question for a lot of people is “when”, because being early is the same as being wrong.
My opinion is still to treat it as a hedge, and only invest funds in gold/crypto that you know you won’t miss for at least 5-10 years. There are exceptions, such as the international transactions Jim talks about requiring non-dollar currency as a lubricant; but if you’re just an average dude, then liquidity still matters in the short term, and you don’t want your name getting bumped to the top of the future shakedown list by having to “sell” rather than “spend” those alternate currencies before the crisis manifests. Your hole in the ground might be safe, but are you?
“Of course the bet is that the dollar goes away entirely, or becomes entirely worthless, making way for hard currency to be exchanged directly for goods, or surreptitiously traded for spot-priced fiat by corrupt officials who won’t ask where you got it as long as they get a cut. ”
Part of the reason I’m very bullish on silver. Gold is too valuable for small transactions and prone to robbery in low trust societies… silver coinage makes way more sense as a trade coin.
In the United States, gold and Bitcoin are taxed only when spent. At that time, they are taxed for capital gain.
If tax-evasive, black market spending of gold and Bitcoin in the United States surpassed a volume Congress deemed tolerable, then Congress would presumably authorize the president to dispatch men with guns to enforce the tax.
Jim speaks of the Laffer limit. Laffer is right but some think of his limit as a limit on taxation. I suggest thinking of it instead as a limit on spending. Both ways of thinking can be correct but to think in terms of spending is probably less confusing.
Recent online Jewish behavior is annoying. Shapiro and his ilk demand that the Right distance itself from Nazis. No, that’s not the way to do it, fellow kikes. If you want the Right to like you, it would be much better that — absolute shocker right here — you actually behave in a likeable manner. For a start, I suggest using the New Testament as an instruction manual.
But they have a wrong image of Jesus as a leftist, holiness-spiralling, self-hating Jew. What they will need in order to accept Christ is to reimagine and reinterpret Him as a based, right-wing PATRIOT, whose goal was to save the world and save the Jews. Then, and only then, they might actually start following His instructions, and win over the Right from the Nazis.
Stop kvetching about Nazis and start being likeable, brethren.
Consider patriotic people like Captive Dreamer, Patrick Casey, Loki Julianus, Pascal-Emmanuel Gobry,
Auron MacIntyre[nah, screw that resentful potato nigger], and such. Will you make them like you by constantly whining about “NAZIS! NAZIS! NAZIS!” or will you make them like you by showing them that relations with Zionists/Israelis can actually be mutually beneficial?Shapiro, who’s demanding that the Right dissociate itself from the Nazis, is not actually advancing Jewish interests with his annoying behavior. He is just pissing people off. It’s always “What can you do for me?” and never “What can we do for you?” with these types. I mean, he’s not the worst of the worst, obviously, but still incredibly annoying. Well, that’s what you get for preferring the OT+Talmud combo to the OT+NT combo.
Hopefully, the newer the generation of Jews will be more Christian than the previous ones.
We all have firsthand experience with the “problem” that Vance “dismissed” and Shapiro and his ilk are demanding “distance” from.
I would resolve this by promising to find and punish the “instigators” of the incident, because we all know exactly who those instigators are going to turn out to be: people with little to no documented history in the group, whose values don’t seem to align with the group, who don’t appear to have any good reason to want to be part of the group, and who were shouting “joo joo joo” from the moment they joined and who rarely if ever have anything else to contribute.
It is entirely obvious that the Republican party and its auxiliaries have a shill infestation, just as we are constantly attacked by shills and every other right-wing institution or platform is constantly attacked by shills. Trump/Vance/whomever could use this as a good opportunity to quietly clear out the entryists, while obviously leaving the dupes and innocent shitposters alone, and then appease Thermidor’s Jewish faction by proclaiming “the matter has been dealt with” because in fact it has; not to the satisfaction of the Neocon/Never Trump faction, of course, but more than enough to split them off from the rabble they like to agitate.
Jews are, institutionally speaking, hyperactive barking dogs who must always, always chase the Nazi Ball wherever it is thrown. It seems to be this compulsion that cannot be persuaded out of them and for all we know, cannot even be bred out of them. But to strain this metaphor to its limit, they can be shown that the asshole with the ball never threw it, and is still hiding it behind his back. “Antisemitism” is out there, yes, but most of it is astroturf, or only sincere on the left (e.g. the Pally Bros and their pet kebabs).
You’re not wrong about Shapiro’s archetype being very unlikable, or the fact that the Jewish faction needs to get its own house in order before criticizing any other; but that won’t stop the glowniggers, so from a realpolitik point of view, I’d rather pit the two against each other directly instead of having them both trample all the innocents trying to get things done. They deserve each other.
I don’t think isolated jokes in a leaked groupchat were bad actor shills because the jokes were isolated. I think the leaker 100% was a bad actor.
People who want to go on and on about how Hitler was awesome and they are the most pure of jew haters and anyone who disagrees with them including the j00 puppet Blonald Blumpf, definitely shills.
Yes, most and maybe all of what I saw in the leak was “meh”. Though I didn’t examine it in much detail.
I believe it is likely that some material wasn’t leaked, and that material will lead directly to glowies. Obviously they are not going to leak the evidence of their own instigations, but it can still be traced.