Yeah, imagine if fox started telling the truth about how shit trump is really doing at near every aspect of the job.
Kiwibiker
Yeah, imagine if fox started telling the truth about how shit trump is really doing at near every aspect of the job.
Kruger-Dunning Parts n Service
How Trump could repeat a previous presidents move to tackle debt that would really screw us over in NZ.
What if I told you that the US government has a secret plan to revalue gold at $15,000 an ounce and it will wipe out the current year's deficit and reduce the US government debt and it won't cost you a single penny.
We're talking about a potential revaluation of the US government's gold holdings from the statutory price of $42 to $15,000 an ounce
. Today, I'm going to break down how this could happen, who gets rich, why the whispers about this plan are getting louder in the highest circles of power, and how you can know when it's about to happen and prepare yourself.Let's start with a simple fact.
The United States government owns a lot of gold. It's about 261 12 million ounces to be exact. But here's the crazy part. On the official books of the government, this gold is valued at just $42 an ounce. That's the statutory price of gold set in 1972. The gold thus has a book value of only 11 billion US. But at today's market price of about $3,300, that same gold is actually worth over $862 billion. And if gold were to be revalued to $15,000 an ounce, that gold would be worth over four or nearly $4 trillion.
But let's go back in history a little bit. Where did this gold come from in the first place? Currently, it's held by the US Treasury, which is a branch of the US government. But it wasn't always theirs. Back in 1934, in the middle of the Great Depression, President Franklin D. Roosevelt signed the Gold Reserve Act. This law forced the Federal Reserve, who held the gold, to hand over all of its physical gold to the US Treasury. And in return, the Federal Reserve got a piece of paper, an IOU called a gold certificate. If you look at the Fed's balance sheet today, it's the very first asset listed on the balance sheet. It's called gold certificate account and it's valued at that same $11 billion. But it's just an accounting receipt. It's not a claim to get their gold back ever
. The Federal Reserve cannot and may not convert that certificate into gold. And it's and it has no right to ask for redemption of the certificate. So the only way it can be redeemed is if the Treasury so decides and if they redeem it, they'll redeem it at the statutory price of gold, i.e. at $4222 an ounce, uh, which is 11 billion. So that gold certificate is on the books as 11 billion. It's only worth 11 billion and it never will be worth anymore and it can't even be cashed in, at least not at the holders be behest. So we go back to 1934. All that gold was transferred from the Federal Reserve to the Treasury as a result of the Gold Reserve Act.
But Roosevelt wasn't done on that day. The next day, he devalued the US dollar by over 40%. He did this by changing the official price of gold from $20.67 an ounce to $35 an ounce. Or more precisely, as it was worded um in his proclamation, he reduced the gold weight of the dollar from 25.8 8 grains of gold, 9/10 fine, to 15.715 grains of gold, 9/10 fine. Obviously, we know it today as an increase in the price of gold from 20 to to $35. Now, this move, this genius move at the time created a 2.8 billion paper profit out of thin air. And Roosevelt made absolutely sure that that profit went straight to the Treasury, not to the Fed. He said, and I quote, "We believe that all profits should revert to the Treasury of the United States for the benefit of the country as a whole." And with that, the Fed was left with a bit of paper and nothing more. Obviously, their real gold was now gone.
The move shocked bankers in London, Paris, and Zurich. The mighty US dollar that they held had suddenly lost 41% of its value overnight. Foreign bankers saw it as an aggressive, unfair trade tactic. It was a clear signal that the old rules of money no longer applied. So why am I talking about something which happened 90 years ago? Because today the USA is facing a similar crisis. The national debt is spiraling out of control. The interest payments alone are becoming one of the biggest expenses of the entire federal budget. and worse is to come. The government has to refinance about 9 trillion of its debt over the next four years. That's roughly one/ird of its debt. This debt was issued when interest rates were low about 1 and a.5% to 2%. Today, interest rates or yields on bonds are closer to 5%. That refinancing cost, which is coming over the next few years, is going to cause the government's interest costs to explode. Something has to be done. And that's where the 1934 playbook comes into focus. The idea gaining traction is to repeat Roosevelt's move, but on a much grander scale. A revaluation of gold to $15,000 would generate $3.9 trillion of windfall for the Treasury. It would wipe out the entire budget deficit for 2025 or 2026 when they do it. and it would allow the government to pay down a huge chunk of the national debt. So, how would this work technically? Because it's a kind of monetary slight of hand, but it can be done in four simple steps which I'm going to outline and I'm not asking for any Nobel Prize for explaining this. First, the Treasury would buy back the gold certificates held by the Fed, paying the value, $11 billion. Secondly, the president would issue an order raising the official statutory price of gold to $15,000 an ounce. Thirdly, the Treasury now sell all of its gold to the Federal Reserve at the new price, the new statutory price, receiving in exchange $3.9 trillion of newly created digital cash. And finally, the government would repeat the 1934 trick, which is to pass a new law, forcing the Federal Reserve to hand over that gold back to the Treasury in exchange for, you've guessed it, another gold certificate. The end result, the Treasuryy's got its gold back. Plus, it's got $3.9 trillion in cash created out of thin air. $3.9 trillion in cash created out of thin air by the Fed. And since the gold certificates aren't counted as government debt, the national debt could be drastically reduced. And of course in the current year there would be a huge profit made by the Treasury uh resulting in a budget surplus instead of the huge deficit that everyone's expecting. So who wins in this scenario and who loses? Well, the biggest winner by far is the US government. But the other beneficiaries would be anyone who owns gold or anything related to gold such as gold mining stocks. Central banks in countries like Russia and China would see their assets sore. Individuals who own gold coins or bars would see their wealth multiply. And of course, gold mining companies would become incredibly profitable overnight. Now, probably you're thinking this just benefits the rich and at first you're absolutely right. I mean, let's consider Scott Bessant. He's the Secretary to the Treasury, one of the most important positions in the country. He has a say in what will happen. But before he was secretary of the treasure treasury, he was the founder of a major hedge fund called Keys Square Group, which had exposure to gold mining stocks. And before that, uh, he was part of George Soros's team, the man who broke the Bank of England by betting against the pound. So taking big bets is something that he will know all about. Now whilst he's probably divested himself of these private interests probably as a requirement of becoming uh taking office uh of as secretary of the treasury. His public statements are what are most interesting and this is where I get the information to say that remonetization of gold probably at $15,000 is under consideration as I speak. So what Scott Bessett has said, he has talked about the need to monetize and I using words he used monetize the asset side of the US balance sheet. Now if you're a financial insider, you know that's a clear code phrase for revaluing gold. Whilst he didn't use the exact phrase revalue gold in the context of the US balance sheet, the single most undervalued and readily monetizable asset on the balance sheet is the nation's gold reserve. It's crystal clear that when he says monetize the treasury's assets, he must be talking about gold. There is nothing else that can be monetized. about an insider. And perhaps today we have insiders who will be finding a way to secretly trade on the back of information they know is coming and you don't. And that's why I think before we have this move to $15,000 gold, you'll see the price moving up rapidly. you'll see the dollar moving down rapidly and that will be your warning sign that it's imminent. So, will gold be revalued to $15,000? We don't have any official confirmation of that, at least not yet. It could be more. It could be less. I think that would be a sensible price to move it to. All we know is that Scott Bessant has advocated monetizing the Treasury's balance sheet. And as far as I can see, the only asset and the obvious asset which could be monetized is the gold. So the only questions I've got are when and at what price. I think $15,000 makes sense, but maybe he'll pick another one. We'll see. If we have such a revaluation, it will send shock waves through the global economy. It could trigger a massive surge in the prices of other assets like stocks or Bitcoin as trillions of dollars of that new wealth in gold looks for a home.
Every great cause begins as a movement, becomes a business, and eventually degenerates into a racket - Eric Hoffer
No8 Wire Extraordinaire
Let me guess.
Oh but wot about the dems.
Oh and the left wing media.
They just don't. Um something. Um. . Do I live in America?. .I forget as I read thier social media/drivel.
Did I get it right?
Don't you look at my accountant.
He's the only one I've got.
Anorak
Originally Posted by F5 Dave
He ripped off this video.
https://www.youtube.com/watch?v=oUDJn1NQU9k
Kinky is using a feather. Perverted is using the whole chicken
Geriatric hoon
By now y'all will be aware of the brouhaha surrounding Trump's lbirthday letter to Epstein containing a sketch. Trump has said he doesn't draw or "write" pictures.
Of course there are a number of Trump sketches appear as if by magic. While not great art they do have a certain charm.
The letter also contained the word 'enigma'. Trump and his zombie army say that's not a word he would use. As always, there are tapes.
https://www.facebook.com/watch?v=1128845295738791
There is a grey blur, and a green blur. I try to stay on the grey one. - Joey Dunlop
Forum whore
Not quite the same wall of text as R666 but I'm getting there.
“I watched in disbelief as businessmen voted for a repeat bankrupt, laborers for a boss infamous for stiffing his workers, evangelicals for a serial adulterer, women for an admitted sexual assaulter, patriots for a draft dodger who would sell his country’s secrets for trivial gain, educated men for an ignoramus. But they did so with fierce gladness in their hearts. Because what their chosen one had done was open Pandora’s box—yes, the old one, filled with the ancient calamities of race hatred and rage and cruelty and bloodlust and infinite greed—and tell them that these things were the remedy for all their grievances, that all their anger was justified, and most important: None of what ailed them was their own fault—or ever had been.”
― Greg Iles, Southern Man
and another , although his prediction was out - just hope it doesn't go all the way
“My vision. In 2027, Israel’s leader will become convinced that Iran is fielding its nuclear arsenal. Israel will ask us to destroy that arsenal for them, using our submarines and ASW aircraft. If we refuse, Israel will attempt to do it alone. There our scenario becomes a true three-body problem. China—wishing to be seen as taking the moral high ground—announces that if we attack Iran, it will seize and hold Taiwan, arguing that Iran has just as much right to self-defense as the Israelis. At that point, the best predictions of our experts are that, if we fulfill the Israelis’ wish, we will set ourselves on the road to global nuclear war. At the very least, the U.S. president will have to disappoint our closest ally and religious cousin in the Middle East—Israel—while at worst, we might actually have to attack Israel to prevent them initiating Armageddon out of paranoia.”
― Greg Iles, Southern Man
it's not a bad thing till you throw a KLR into the mix.
those cheap ass bitches can do anything with ductape.
(PostalDave on ADVrider)
Geriatric hoon
Was listening to a US media commentator. He was discussing the ending of Colbert's contract. He didn't think it was entirely motivated by Trump's desire for vengeance. Although he did think that might well be a factor. The various US late shows are competing for the under 40s market but the viewer numbers are way down. The under 40s don't watch as much TV these days. That Colbert is payed some US$15 million pa to perform for a diminishing audience is likely also a factor.
Next year when Colbert finishes, the other shows may get a temporary boost from a share of his audience numbers but long term the situation is likely to deteriorate.
There is a grey blur, and a green blur. I try to stay on the grey one. - Joey Dunlop
Geriatric hoon
Evidence suggests the best lawyers are not queueing to represent Trump in court. His $10 billion case against the Wall Street Journal has been filed in Miami Florida. Judge Gayles is an Obama appointee who has presided over one of Trump's defamation cases previously. Until when Trump would have had to appear in court in person at which point he folded. Taco.
Trump's official residence is 1600 Pennsylvania Avenue, Washington DC. The WSJ address is presumably in New York. All of which would suggest the case be heard in DC or NY. There are rules governing a change of venue and apparently these were not followed so proceedings are already off to a shaky start. All things considered there is potential for entertainment for us and serious damage to Trump should he piss off the Murdochs.
There is a grey blur, and a green blur. I try to stay on the grey one. - Joey Dunlop
Geriatric hoon
You may remember Alina Habba. She brought the full weight of her experience working for her husband's parking building company to Trump's service in multiple court cases. All of which she promptly lost. Trump subsequently appointed her interim Attorney General of New Jersey. As the temporary period was expiring she needed Senate confirmation. The Democrats stalled that. In such circumstances the New Jersey judges get to vote should she stay or should she go. They voted no thanks.
No doubt Trump will find her a new position. Meanwhile she is not a drain on the long suffering tax payer.
There is a grey blur, and a green blur. I try to stay on the grey one. - Joey Dunlop
Kiwibiker
The trump legal arm, opps I mean the department of justice has already sacked the replacement the judges put in.
And Mike "protect the pedos" Johnson has just put the house in recess until September to avoid a epstein vote. Nothing suspicions there huh.
L-Plate Rider
Apparently JD Vance met with Murdoch prior to the WSJ birthday card story release. Today WSJ have shared a new story about the DOJ telling Trump he was mentioned in the Epstein files back in May.
I reckon they are going to let Trump destroy himself over Epstein, JD will slide into the main seat as planned and Project 2025 will continue because they just needed Trump for his supporters votes.
Kiwibiker
Great post, and more than likely spot on.
Geriatric hoon
The author of project 2025 has recently shuffled off this mortal coil - probably to somewhere much warmer. Unfortunately the project will not have died with him.
There is a grey blur, and a green blur. I try to stay on the grey one. - Joey Dunlop
Embracing mediocrity
Meanwhile it's come to light that the FBI put significant resources into reviewing the Epstein documents, and 'flag' anything where Trump is mentioned. Is it then possible that any such documents might subsequently 'kill themselves'?
The anger from Trump at comedians taking the piss is somewhat ironic, given that he himself is the reason they have material to work with. If he could just resist his attention whore urges and not do something illegal, immoral or just downright stupid on a daily basis, there'd be nothing for them to work with.
The latest nonsense is dragging up supposed election interference by Obama, it probably still irks the Don that he lost the popular vote in 2016, and that polls at the time clearly indicated if Obama had been able to stand he would have won.
Riding cheap crappy old bikes badly since 1987
Tagorama maps: Transalpers map first 100 tags..................Map of tags 101-200......................Latest map, tag # 201-->
Kruger-Dunning Parts n Service
Do remind us again what was supposed to happen in 2025 project cause its not long til 2026 now?
Every great cause begins as a movement, becomes a business, and eventually degenerates into a racket - Eric Hoffer
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