“Highest Inflation Since 1981” is a Canard – This is the Highest Inflation Ever, By a Lot

Andrew Anglin

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Inflation just came in at 8.3%.

Wild
🤯


— Pomp
🌪
(@APompliano) May 11, 2022

How can both parties agree to send $40 billion to a foreign nation during an inflation crisis while people can’t buy baby formula?

Easy, we’re in the looting the treasury phase of imperial collapse

Everyone knows you can’t put it back together so just take everything you can

— Auron MacIntyre (@AuronMacintyre) May 11, 2022

Biden wants to spend $40B for Ukraine and $10B more on covid.

Meanwhile,

American mother’s can’t buy baby formula.

Record amounts of fentanyl is coming across the border and is #1 cause of death in young Americans.

And out of control inflation & fuel is hurting everyone.

— Rep. Marjorie Taylor Greene
🇺🇸
(@RepMTG) May 10, 2022

57 Republicans made the Honor Roll yesterday. Biden will print the billions Congress voted to send to Ukraine which will further exacerbate the record high inflation we are experiencing.https://t.co/piQhWBsrE6

— Thomas Massie (@RepThomasMassie) May 11, 2022

Inflation out of control? Can’t fill up the gas tank? Hard to pay skyrocketing housing costs?

Don’t worry the regime can still find $40 billion of your money to launder through their buddies in a distant country https://t.co/c40FViU72s

— Auron MacIntyre (@AuronMacintyre) May 10, 2022

Here’s Biden two weeks ago laughing hysterically about the inflation that’s crushing American families. pic.twitter.com/Chtdwotnrs

— RNC Research (@RNCResearch) May 10, 2022

LATEST: S&P 500 futures drop after inflation data https://t.co/uGJnlow2th pic.twitter.com/gKq85ZHYWE

— Bloomberg Markets (@markets) May 11, 2022

Inflation 8.3% … I swear these numbers are rigged
🚨
pic.twitter.com/EAMi5CpmRY

— Wall Street Silver (@WallStreetSilv) May 11, 2022

APRIL INFLATION BREAKDOWN:

Gas +44% y/y
Airfare 33%
Eggs 23%
Utility gas 23%
Used cars 23%
Hotels 23%
Bacon 18%
Chicken 15%
Milk 15%
Furniture 15%
Coffee 14%
Beef 14%
Flour 14%
New cars 14%
Fish 13%
Electricity 11%
Health insurance 10%
Rent 5%

— Election Wizard
🇺🇸
(@ElectionWiz) May 11, 2022

Why is Congress sending $40B to Ukraine when Americans are suffering from high inflation, gas prices, and a terrible supply chain?

— Jenna Ellis (@JennaEllisEsq) May 11, 2022

“Inflation is just like alcoholism.” pic.twitter.com/Yp6bbjiyBM

— Mr Smith (@WestwoodParking) May 11, 2022

$40 billion for Ukraine
40% inflation for USA

You’re getting robbed.
You’re going broke.
You’re being lied to.

You’re a victim of corruption.#TurnOffTheTVTurnOnYourBrain

— Kim Dotcom (@KimDotcom) May 11, 2022

Numbers out this morning put inflation at an alleged 8.3%, and the whole media is claiming that this is “at a 40 year high.”

BREAKING: Inflation soars 8.3% in April, hovering near 40-year high https://t.co/qO7Xhznzqb pic.twitter.com/edAVkQEHE6

— Fox News (@FoxNews) May 11, 2022

It’s not actually at a 40 year high. It’s the highest inflation ever.

When they claim it is merely a 40 year high, this makes people think “oh well, at least at some point in the past it was as bad as it is now and the world didn’t end back then so this must be okay.”

Woe unto ye.

They have repeatedly changed the way inflation is calculated and then compared the numbers calculated using the newer – and much more dishonest – methods to previous numbers that were calculated in another way.

Here’s the thing: if they were going to change the way inflation was calculated, and this wasn’t some kind of scam, they would go back and retroactively change the previous calculations. You see this with money, where they say “in today’s dollars.”

Here’s an easy example: Gone with the Wind is still the highest grossing film of all time, although it only made $390 million dollars – because $390 million dollars in 1939 is nearly 4 billion dollars in current dollars.



Honest people will admit that Gone with the Wind is the highest grossing movie of all time, and it is pretty much always put at the top of lists because people calculate the change in the value of dollars.

This isn’t a precise analogy, but it’s the same concept.

Here’s another example: what if you were calculating temperature in Celsius, and the hottest day of the year was 35 degrees. Then you started calculating temperature in Fahrenheit, and the hottest day of the year was then 105 degrees, and you started saying “the hottest day of the year was three times hotter than the previous hottest day of the year”?

That’s what changing the way inflation is calculated is like.

Here’s an article from CNBC from 2011, which is for some reason still online, and actually explains this situation pretty well:



CNBC apparently forgot about that article, and is continuing to print this “40 year high” disinformation.

Among other changes, the Consumer Price Index (CPI) started claiming that if an iPad 2 cost the same as an iPad 1, you were actually saving money on the iPad – because the 2 has improvements! Given that electronics have become something people spend a lot of money on, this is a big way they manipulate the CPI.

Then you have the major thing which is changing the CPI’s cost of goods index (COGI) to a cost of living index (COLI). The basic concept behind the COGI/COLI transformation is that instead of comparing one product to another product over time, they started measuring the spook of “standard of living.” Honestly, I would be lying to you if I told you I understood all that this entails, but it is a series of math equations that has the clear and obvious purpose of allowing the government to report much lower inflation numbers than they previously reported.

Peter Schiff is right about one thing and it’s this. He was on Tucker Carlson in December of 2021 when the government was claiming that inflation was only 7%, and explained that if you calculated it using the 1982 system, it would actually be 15% – which is higher than the highest ever of 13% in 1980.


I hope Tucker brings him back on to do that segment again. Or he could bring on some Bitcoin guy. Everyone in libertarian circles is aware of this major factoid, and they’re all about ready to smash their heads against the wall looking at this “highest in 40 years” line the media is shilling.

If you read the government’s explanation for this, they will say that they made the CPI “more accurate.” Well, okay – it’s going to be a relative number regardless. But if it’s more accurate, then go back and adjust the 13% in 1980 using the current method of calculation, which would make it about 5%. Then admit that our very accurate 8.3% is the highest in all of American history – by a lot.

Another thing that people are pointing out – although it is really not even necessary to point this out – is that in the 1980s, it was a momentarily out of control situation which was quickly reined in, whereas right now we are just dropping off a cliff.

Crypto Situaiton


As far as the crypto situation – Bitcoin just fell off a cliff.

Monday morning is time to get back to work. #Bitcoin pic.twitter.com/JlufLXRT9W

— Michael Saylor
⚡
(@saylor) May 9, 2022

Is it going back up? Well, I would think so. People are pulling money out of Bitcoin to cover losses in other places, which is causing the price to drop. This was always going to happen if they raised interest rates, because Bitcoin had started tracking with the stock market.

It could shoot back up or it could go way lower. No one has any idea. There are too many factors involved here. However, in the long run, people are going to start using it instead of US dollars. Or maybe China will release a digital yuan, and people will start using that.

What is clear: the dollar is not sustainable. They are burning it out. The current government – along with all of these special interest groups that control the government – are looting the national treasury.

Continue reading...
 

Cousin Groypley

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Unless you're a savvy short term investor or day trader that can do quick flips for more cash, I think the best thing is to start moving your savings out of dollars. It's clear the government is trying to lower inflation for the mid terms by raising rates, but they can only do that for so long given we are 30 trillion in debt. We are headed towards stagflation, and in the long run, the dollar will collapse and be replaced by more sound money.
 

Sven Hassel

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They have been holding back gold and silver prices for ages now maybe they are accumulating it as a safe haven like it used to be.
Usually in times of inflation Gold should go higher but that hasn't happened and not just because it is competing with digital currencies like Bitcoin.
Very strange
 

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Is it going back up? Well, I would think so. People are pulling money out of Bitcoin to cover losses in other places, which is causing the price to drop. This was always going to happen if they raised interest rates, because Bitcoin had started tracking with the stock market.
The Terra stablecoin, which is a dollar-pegged stablecoin that is backed by Bitcoin (think for a moment about how stupid an idea that is), has collapsed. Apparently over the last few weeks the people who run Terra have been furiously selling off their bitcoin stash in order to prop Terra up, but today it looks like they reached the end of their rope. The story is that some Wall Street Jew figured out a way to blow it up, and people estimated he made ~$800 million doing so.

It's sad that a bunch of morons got sucked into the Terra ponzi scheme, but now that it has collapsed, the selling pressure on Bitcoin should abate.

Screen Shot 2022-05-11 at 10.57.57 AM.png

@V.I knows more about this than I do, maybe he can explain
 

CharlesWorthing

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People are saying that a crypto hedge fund called Citadel has been shorting LUNA and BTC to break LUNA, cause market panic with BTC dropping, and to cause the stable coin UST to depeg (it should be equal to $1).

A lot of people are in LUNA/UST because it is an easy way to make 20% return on a stable coin UST. People used a defi web site abacadabra money to "loop" UST stable coin to get 100% APR.


Terra's LUNA continued its third consecutive day of sliding as the token fell 96% in the past 24 hours to reach price levels previously seen in August 2021.
Anchor, the decentralized finance (DeFi) platform that provides yields on UST deposits, saw total value locked (TVL) fall by $11 billion in the past two days. The drop came after TVL peaked at $17 billion just a week ago.


Other people have been warning that Wall Street wanted to crash crypto so that they could get in on bitcoin cheap before the US dollar sinks.


On the Fantom blockchain (FTM) a guy had borrowed tens of millions of dollars against some FTM tokens he deposited when FTM was $3. FTM is now about $0.40. As the price started to drop, he got liquidated and brought FTM down.
 

CharlesWorthing

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The Terra stablecoin, which is a dollar-pegged stablecoin that is backed by Bitcoin (think for a moment about how stupid an idea that is), has collapsed. Apparently over the last few weeks the people who run Terra have been furiously selling off their bitcoin stash in order to prop Terra up, but today it looks like they reached the end of their rope. The story is that some Wall Street Jew figured out a way to blow it up, and people estimated he made ~$800 million doing so.

It's sad that a bunch of morons got sucked into the Terra ponzi scheme, but now that it has collapsed, the selling pressure on Bitcoin should abate.
Sorry, I didn't read other comments before posting about LUNA and you already got the story out.
 

JR_Rustler_III

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They have repeatedly changed the way inflation is calculated and then compared the numbers calculated using the newer – and much more dishonest – methods to previous numbers that were calculated in another way.
All Federal economic statistics have become increasingly unreliable over the last 40 years, as they keep revising and rejiggering how to calculate the numbers so they look better than they really are. For many years now, John Williams at Shadowstats.com has been calculating his own statistics using the methodology the Federal bureaucrats used back in the 70s, before they started monkeying with the numbers, in an attempt to shine a light on what's really going on.

Most of his work is behind a paywall but he makes his headline numbers publicly available, and they are pretty shocking--25% unemployment rate and 17% inflation rate. That suggests we are currently in a full-blown inflationary depression.







 
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JR_Rustler_III

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A lot of people are in LUNA/UST because it is an easy way to make 20% return on a stable coin UST. People used a defi web site abacadabra money to "loop" UST stable coin to get 100% APR.
100% APR, lol.

Well, they just lost 50% of their principal.
 

Flaps McKinley

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Then you have the major thing which is changing the CPI’s cost of goods index (COGI) to a cost of living index (COLI). The basic concept behind the COGI/COLI transformation is that instead of comparing one product to another product over time, they started measuring the spook of “standard of living.” Honestly, I would be lying to you if I told you I understood all that this entails, but it is a series of math equations that has the clear and obvious purpose of allowing the government to report much lower inflation numbers than they previously reported.
I don't know if this will help you, AA, but a while ago I wrote an essay on the economic tendencies of the last 50 years of the UK, because it has been a sustained looting operation, using a variety of sleight-of-hand policies. This is the part about how Gordon Brown (the then chancellor) managed to tweak the figures so that the inflation rate (which was galloping ahead), was made to appear lower than it was, which allowed for certain banking policies that would allow the looting to continue unabated.

"...Because with the nation’s industry and manufacturing gutted out, there was only large pot of wealth that remained to be looted. The immovable assets of the nation’s bricks and mortar. But how to do that when outside of the Square Mile of London, the nation’s economy was in the toilet and wages were generally low? The answer to this was to change the conditions of lending, so that banks could lend much more recklessly than before, and to manipulate the value of money and interest rates to create a false reality. To this end, in 1997, the British chancellor Gordon Brown, to further Thatcher’s 1986 ‘Big Bang’ deregulation of the City of London, created a new regulatory body for the financial sector, the Financial Services Authority, to replace the existing regulatory body. This new politically controlled quango was known for its light-touch regulation of the banks, with a tick-box approach which made discretionary judgement impossible and which made it very easy for devious bankers to game the system. He then granted the Bank of England independence from government in 2000. But what was essential in the creation and maintenance of an economic bubble is to tinker with interest rates so that they do not reflect inflation.

To that end, in 2003, Brown got rid of the Retail Price Index and replaced it with the Consumer Price Index, which allowed him to remove house price inflation from consideration when calculating the interest rate. It also allowed him to remove other items from the ‘inflation basket’, and replace them with others, such as dating apps (no joke). Between 2003 and 2006, for example, the cost of essentials rose as follows in Britain: gas by 64%, electricity by 45%, council tax by 16%, water by 24%, petrol by 28% and mortgage interest payments by 50%. However, none of these were put into the shopping basket when calculating inflation because none of them were considered as essential. Other accounting tricks, such as hedonics and substitution were (and still are) used to keep the interest rate lower than actually inflation when government wants to help out their banking cronies and punish savers. If a joint of beef is more expensive than it was a year ago, the government might decide to set interest rates against the price of chicken nuggets.

Because if the official inflation rate is high, as reflected in the official interest rate, then people will demand big wage and pension rises to ensure that they don’t lose purchasing power. So lying about inflation helps keep wages and pensions artificially low against the real cost of living. Crucially for the banks, it kept the cost of lending low and they didn’t have to pay out much interest to savers. But because of the disparity, money held as cash was losing value in real terms, so savings fell to an all-time low as people spent before their money became worthless. Gordon had engineered things so that money was so cheap it was effectively into negative interest rates, a situation which was also happening in Ireland and Spain, because their interest rate was set by Germany, which as a powerful hub of manufacturing and export, had a low-inflationary economy. And just like Britain, Ireland and Spain also saw housing bubbles, as the safest and most profitable investment for people who had money to invent, or who just wanted to profit from the environment of easy, reckless bank lending on cheap rates. As house prices rose in response to this new demand, people also took money out of their existing homes as equity, or increased their mortgages, because with low interest rates, paying back the money was easy, and house prices would always go up. Because house prices would always go up, wouldn’t they?"

The "basket of consumer goods" is well worth looking at, to see how these bastards game the system. What are you complaining about, goy? Dating apps are cheaper than ever! Here, have another chicken nugget.
 
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JR_Rustler_III

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Sorry, I didn't read other comments before posting about LUNA and you already got the story out.
I'm just parroting what @V.I told me in another thread, you seem to know more about this than I do. I've never wasted much time following these obvious crypto ponzi schemes, anytime somebody is offering you absurd interest rates like 20% means you are in a ponzi scheme. It's BitConnect all over again.
 

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Financial advisors are in panic mode! Literally pulling their hair out contemplating jumping out the windows.

Six months ago they were mocking and laughing at anyone who mentioned inflation. They said it was transitory parroting the MSM and government talking heads.

Now they literally have no answers. The go to "it's a buying opportunity" is falling flat and they know it's not going to work this time.

Housing bubble implosion in 3....2.....1 coming up.

Whatever cycle of QE.....12......15.....23 we are on currently is over. There will not be any bailouts for this implosion.
 

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Whatever cycle of QE.....12......15.....23 we are on currently is over. There will not be any bailouts for this implosion.
There's always another bailout coming. I'm expecting another massive expansion of the Federal Reserve's balance sheet to commence later this year, and then it'll be off to the races again. I'm betting that this time around they won't just be buying Treasury instruments and MBS, they'll be buying all kinds of crap like corporate bonds, junk bonds, and even "high quality" (lol) stocks.



 
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DaveA

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When the tide goes out, you find out who's been swimming naked. A lot of naked fools thought the stock market could protect them against inflation. How'd that work out in the 1970's? With a brutal bear market that didn't turn around until Paul Volcker hiked interest rates to 20% and crushed inflation.

Want to know why? Because companies live and die by their books, and inflation makes those books meaningless. E.g. if you spend $1 million to make a warehouse full of stuff, them sell that stuff for $1.2 million, then spend $1.5 million to re-fill that warehouse, then sell the contents for $2 million, the books say you're making a profit, but now it'll cost you $2.5 million to replace what you just sold. Maybe you should keep your warehouse full, keep your bank accounts empty, and barter for things you need.

Barter is far less convenient than money, so complex production networks break down. Stores run out of things to sell, and armed gangs roam the land until there's nothing left to steal. The smarter gangsters then offer to settle down and protect the local peasants in exchange for food. Thus feudalism is born.

What about property as an inflation hedge? Even as rates rise, buyers are rushing to lock in fixed-rate mortgages, hoping to someday pay off the remaining balance with a dozen eggs.

Then the government eminent-domains your property for a dozen eggs. You didn't really think a government that steals your savings wouldn't also steal your house?
 

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They have been holding back gold and silver prices for ages now maybe they are accumulating it as a safe haven like it used to be.
They have been keeping the price of gold artificially low for decades now. You simply can't buy physical gold in size at the traded price, because it isn't available. The ultra-rich trade it amongst themselves off-exchange, probably at prices that are some substantial multiple of the traded price.

People who try to buy gold or silver in the futures market by buying a contract and then standing for delivery have to wait three or four months while the gold they "bought" is being scraped out of various couch cushions. Anybody who tries to get cute and buy, say, twenty or thirty contracts for delivery, gets tapped on the shoulder and brought into a room where serious people have a conversation with them about how the gold and silver markets really work. Then their contracts get settled for cash, not metal, and they get told on the way out the door not to make the same mistake again.
 

Christopher

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Numbers out this morning put inflation at an alleged 8.3%, and the whole media is claiming that this is “at a 40 year high.”




It’s not actually at a 40 year high. It’s the highest inflation ever.

When they claim it is merely a 40 year high, this makes people think “oh well, at least at some point in the past it was as bad as it is now and the world didn’t end back then so this must be okay.”

Woe unto ye.

They have repeatedly changed the way inflation is calculated and then compared the numbers calculated using the newer – and much more dishonest – methods to previous numbers that were calculated in another way.

Here’s the thing: if they were going to change the way inflation was calculated, and this wasn’t some kind of scam, they would go back and retroactively change the previous calculations. You see this with money, where they say “in today’s dollars.”

Here’s an easy example: Gone with the Wind is still the highest grossing film of all time, although it only made $390 million dollars – because $390 million dollars in 1939 is nearly 4 billion dollars in current dollars.



Honest people will admit that Gone with the Wind is the highest grossing movie of all time, and it is pretty much always put at the top of lists because people calculate the change in the value of dollars.

This isn’t a precise analogy, but it’s the same concept.

Here’s another example: what if you were calculating temperature in Celsius, and the hottest day of the year was 35 degrees. Then you started calculating temperature in Fahrenheit, and the hottest day of the year was then 105 degrees, and you started saying “the hottest day of the year was three times hotter than the previous hottest day of the year”?

That’s what changing the way inflation is calculated is like.

Here’s an article from CNBC from 2011, which is for some reason still online, and actually explains this situation pretty well:



CNBC apparently forgot about that article, and is continuing to print this “40 year high” disinformation.

Among other changes, the Consumer Price Index (CPI) started claiming that if an iPad 2 cost the same as an iPad 1, you were actually saving money on the iPad – because the 2 has improvements! Given that electronics have become something people spend a lot of money on, this is a big way they manipulate the CPI.

Then you have the major thing which is changing the CPI’s cost of goods index (COGI) to a cost of living index (COLI). The basic concept behind the COGI/COLI transformation is that instead of comparing one product to another product over time, they started measuring the spook of “standard of living.” Honestly, I would be lying to you if I told you I understood all that this entails, but it is a series of math equations that has the clear and obvious purpose of allowing the government to report much lower inflation numbers than they previously reported.

Peter Schiff is right about one thing and it’s this. He was on Tucker Carlson in December of 2021 when the government was claiming that inflation was only 7%, and explained that if you calculated it using the 1982 system, it would actually be 15% – which is higher than the highest ever of 13% in 1980.


I hope Tucker brings him back on to do that segment again. Or he could bring on some Bitcoin guy. Everyone in libertarian circles is aware of this major factoid, and they’re all about ready to smash their heads against the wall looking at this “highest in 40 years” line the media is shilling.

If you read the government’s explanation for this, they will say that they made the CPI “more accurate.” Well, okay – it’s going to be a relative number regardless. But if it’s more accurate, then go back and adjust the 13% in 1980 using the current method of calculation, which would make it about 5%. Then admit that our very accurate 8.3% is the highest in all of American history – by a lot.

Another thing that people are pointing out – although it is really not even necessary to point this out – is that in the 1980s, it was a momentarily out of control situation which was quickly reined in, whereas right now we are just dropping off a cliff.

Crypto Situaiton


As far as the crypto situation – Bitcoin just fell off a cliff.




Is it going back up? Well, I would think so. People are pulling money out of Bitcoin to cover losses in other places, which is causing the price to drop. This was always going to happen if they raised interest rates, because Bitcoin had started tracking with the stock market.

It could shoot back up or it could go way lower. No one has any idea. There are too many factors involved here. However, in the long run, people are going to start using it instead of US dollars. Or maybe China will release a digital yuan, and people will start using that.

What is clear: the dollar is not sustainable. They are burning it out. The current government – along with all of these special interest groups that control the government – are looting the national treasury.

Continue reading...
Two sides of the same chip: Lefties have NO problem with working-class ransacking. Neocons have NO problem with endless wars for Schlomo Inc.
I hate to repeat the same mantra but: People are retarded.
The covid mass poisoning project and hijacking of the US for a senile, geriatric presidential appointee went off with few problems and almost no pushback from the populace. Each side remains comatose to revolt and compliant to every system plan.
"It is just as dangerous to try to free a people that wants to remain servile as it is to enslave a people that wants to remain free"
Niccolo Machiavelli
 

Christopher

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Financial advisors are in panic mode! Literally pulling their hair out contemplating jumping out the windows.

Six months ago they were mocking and laughing at anyone who mentioned inflation. They said it was transitory parroting the MSM and government talking heads.

Now they literally have no answers. The go to "it's a buying opportunity" is falling flat and they know it's not going to work this time.

Housing bubble implosion in 3....2.....1 coming up.

Whatever cycle of QE.....12......15.....23 we are on currently is over. There will not be any bailouts for this implosion.
Not only the Real Estate bubble but the DEFLATION phase to every inflation is another nasty 'coup de grace' detail no one wants to even take a whiff at. That's where it gets UGLY folks. How long it bumps along the bottom is anyone's guess.
 

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When the tide goes out, you find out who's been swimming naked. A lot of naked fools thought the stock market could protect them against inflation. How'd that work out in the 1970's? With a brutal bear market that didn't turn around until Paul Volcker hiked interest rates to 20% and crushed inflation.

Want to know why? Because companies live and die by their books, and inflation makes those books meaningless. E.g. if you spend $1 million to make a warehouse full of stuff, them sell that stuff for $1.2 million, then spend $1.5 million to re-fill that warehouse, then sell the contents for $2 million, the books say you're making a profit, but now it'll cost you $2.5 million to replace what you just sold. Maybe you should keep your warehouse full, keep your bank accounts empty, and barter for things you need.

Barter is far less convenient than money, so complex production networks break down. Stores run out of things to sell, and armed gangs roam the land until there's nothing left to steal. The smarter gangsters then offer to settle down and protect the local peasants in exchange for food. Thus feudalism is born.

What about property as an inflation hedge? Even as rates rise, buyers are rushing to lock in fixed-rate mortgages, hoping to someday pay off the remaining balance with a dozen eggs.

Then the government eminent-domains your property for a dozen eggs. You didn't really think a government that steals your savings wouldn't also steal your house?
I read during the 70s the only asset class that made money was farm land. Dont know if that is true but it seems like a safe bet now.
 

Angryguy

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What makes the movie analogy even worse is star wars was in 1977 and made 400 million. That shows the inflation since then was probably worse that the inflation from 40s to 1977.
 

drallod

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Probably should have been the first clue.
To be fair, a return of 20% APR on a USD stablecoin isn't asking for much when real inflation is +15℅!

The biggest problem with 'stablecoins' is what they're pegged to.
 

JR_Rustler_III

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To be fair, a return of 20% APR on a USD stablecoin isn't asking for much when real inflation is +15℅!
Sorry. You can't use one ponzi scheme to justify another ponzi scheme.
 
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