Guest Post by Martin Armstrong
Back during the Great Depression, there were people who theorized that gold hoarding was preventing an economic recovery. There is always this same theory that people who save, hoarding their money, cause a lack of a recovery by suppressing demand. This theory has been around for a very long time. It assumes a recovery is always blocked by people hoarding their money and saving for a rainy day.
Back during the American Civil War, the federal government issued paper currency for the first time after the Revolution. Much of this currency paid interest. Some were in the form of virtually circulating bonds with coupons for the interest payments. Some were backed by gold. Others offered a table on the reverse providing a schedule. The interest bearing notes remained valid currency, but the interest expired within a specific time period. Hence, one would redeem the note since it would no longer pay interest beyond a specific date.
The rumbling behind the curtain, I am hearing, is a growing idea of making the currency in Europe simply expire. I have explained before that in Europe, currency routinely expires — even in Britain. The United States has never canceled its currency so a note from the Civil War is still legal tender. But that is not the case in Europe.
Europeans are accustomed to having their money simply expire. This is not limited to paper currency. They also cancel the coins. The proposal being whispered in the dark halls of Europe is that perhaps the way to impose negative rates to force people to spend is to just cancel all the currency and authorize only small notes for pocket change. They want everyone to be forced to use bank cards and this is the new theory to revitalize the economy.
The chart patterns for the euro are about as long-term bearish as one can imagine. The problem facing the world economy is this idea that they can FORCE people to spend their savings recklessly as the government does. Canceling the euro may be a drastic and desperate step, but it is being proposed as an alternative to deep negative interest rates which have failed to work for more than 10 years. The middle ground proposes a paper currency with expiration dates.
Either way, the risk of a profound dollar rally remains in the wings. The powers behind the curtain desperately want to defeat Trump for they know he would NEVER cancel the American currency. To pull that off, they need a career politician. Joe Biden would be perfect. He might just sign whatever bill is put before him and then take a nap. It is ironic, but there would be a lot of Americans who would wake up and want Trump back after that one. Joe would be too tired to tweet.
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the US dollar has had a slow “expiration” of about 1% a year for the last century
Pity the poor narcos who tried to redeem millions in rotted dollar bills, it seems they don’t keep well when buried in coffee cans. Then there were the unlucky bastards who hid thousands inside a wall in an El Paso apartment, no doubt they died and didn’t notify anybody where the money was stashed. Cancelling the currency would bring a flood of money back into the US and we would have inflation to beat the band. We would soon be looking for the cleanest street corner to pitch a tent.
Almost get that.
I wondered if edible panties are like currency that expires?
Paula, is your avatar actually a picture of you?
Please don’t lie to me. Please don’t tell me “yes” and then a year from now tell me you’re a dude, or an ugly chick. Please don’t do that to me. Again. Are you really that beautiful??
Dude, she is so smoking hot, you’d eat her panties.
Our mutual friend called u a hoot. She should know about hooters.
Sweetie pie!
I will add these song lyrics to my stolen words. Around 2003 ? I took a trip to DC. The Navy widow I was escorting, her two small girls were there to visit their dead father/husband’s mother, who once lived in North Korea with her Swiss diplomat husband. We rode the DC subway often, like country mice in the city it was challenging for us. Most people I saw there were like zombies. Heads down, marching on to their destination while avoiding eye contact. Most all, except one female I saw in the crowd of humanity down deep in the subway crush. I wrote about it to my cutout before the song came out. ( the Christina Applegate lookalike, yes she had connections that matter) . My experience went uncannily like the song lyrics: When I heard the song I heard my words echo. Not the only time I have had my words made into lyrics. Killing the Blues, Love Shack…not to mention the movies
“I saw an angel
Of that I’m sure
She smiled at me on the subway
She was with another man
I saw her face in a crowded place
Yes, she caught my eye
As we walked on by
She could see from my face that I was
Flyin’ high
And I don’t think that I’ll see her again
But we shared a moment that will last till the end
I saw [her] face in a crowded place
And I don’t know what to do
‘Cause I’ll never be with you [her]
There must be an angel with a smile on her face”
…
I explained to my cutout how angels are walking about and from time to time I see them. Maybe I’m delusional but the similarities were so close. The song chronicles my experience and description too close to be coincidence imo. That angel was so luminous and shining. Her eyes locked on mine and we shared a glorious moment. She walked on with her man. I did not mention it to the woman on my arm.
I cut contact with my cutout for safety reasons after H. Ivan.
Whatever, it is a great song that resonates loudly with me.
(Hey Paula, I don’t want to marry you..)
Is me…hair is different now.
stucky,
i tried a couple of weeks ago to get her to post a full frontal & she igged me–
one word 4 you to remember senor stucky–
zarathrusta
He knows that word, which is why he’s asking.
3 am is the whiching hour in Narnia and here at pond’s edge I sit surrounded by Nature’s currency chirping and croaking and lowing into the carcophonic symphony that will never expire but simply resound for other ears.
Birds and the bees and the flowers and the trees. Truth.
She’s a card, that Payola.
Money is stored labor or stored wealth. The entire reason the metal known as gold was used as a proxy for storing ones labor was this:
Imagine you dig a hole with a shovel nonstop for 8 hours. The dirt contained one ounce of hold. That one ounce of gold would he worth 8 hours of digging a hole. So, if i were sick one day I could use some of the labor from a day I was well as currency. Hence I would use some saved gold coins for that days expenses.
Gold never diminishes nor evaporates like silver does. It will not tarnish. That is why it was chosen vs iron ore which rusts or other metals that can be evaporated. Gold has no expiration date. If people have no means to store labor for a day when they are sick and cannot hunt to eat, or in todays metaphor “retire” because they are old, how are they to live if they are too old to hunt for their food, or go to work to earn enough to eat? Should we allow health or death panels to extinguish old people because they are no longer useful? Maybe we should let govt run our health care because they cannot even stop telemarketers but surely something as complex as healthcare.
When they remove your guns, when they do not allow you “hoard” or simply save, when they confiscate your weapons and wealth you are an expendable slave. How long are you going to sit idle and allow them to get their shit in order to kill you. Today is a literal time of your enemy at the castle gate and are preparing to kill you. You idly stand there and watch them run around making weapons of war and preparing an attach while your politicians and media in your castle tell you they are just playing ring around the rosy and you should be ashamed for thinking bad of them. Then there is a day when your treasonous politicians in your castle and your media are found to be traitors and have been lying and brainwashing and consorting with the enemy. What will you do within your castle walls now? Today is the day you should be asking this question. Not tomorrow. Tomorrow is too late.
Silver evaporates? Come on now…silver has been money as long as gold.
Depending on how its stored, it can be destroyed by the elements (oxidation, etc.). Gold truly is forever. Evaporates is indeed and inappropriately “harsh” word. And even slightly tarnished, silver will still be accepted as money.
Latest news (True? Not sure) is that the sheer number of 100U$D bills in “circulation” exceeds the sheer number of the rest of the denominations currently coming out of the mint, and in circulation. It is further reported that the majority of these $100 bills are out of the US, used as a store of value and good tradeable currency in other nations. If true, this means that the stage is just about (not quite…) set for the big switcheroo.
All it will take is a little better monitoring system, and a handle guns. It is almost possible to outlaw cash. Offer a no-questions-asked (yeah, right…) period to trade currency up to 50 grand (or whatever) and then? your wall full of dead presidents is worthless.
All the above-board retailers are in favor of cashless transactions. The banks can be coerced (split up the Visa/MC charges) or bought to extend no charge small deposit accounts. The gibsmedat crew already has snap cards, and the governments all can mandate direct deposit for their boys and girls and billers too. All above-board companies can do the same.
Interpersonal transfers are possible now, just sort of clumsy. I bet that all this 5G stuff can be put to nefarious use making a cashless society possible. And gold is going to have to be illegal to hold, again.
Not today, and not tomorrow, but not too long. And it will fail, after a lot of grief, and (if we are not lucky) a lot of bloodshed. That won’t stop them from trying.
I predict a lot of people will burying things for future use.
Water tanks sit on a lot of precious metals.
Shhh. Don’t give the place away.
Shhhhhh…..mum’s the word.
EVERY natural disaster shows why a cashless society will NEVER be acceptable. Even the National Weather Service and others say to have plenty of cash as part of your preparedness supplies.
So why not cancel the debt? It’s how we create currency.