News $53 Silver and $4200 Gold hits All Time High!

[Jimi Jah]

Weakening the dollar lowers the cost of paying interest on the national debt, now exceeding 40 trillion dollars.

The problem is everyone gets a haircut. The only "solution" being proposed for the debt is to grow the economy so that debt is less punishing. There are no proposals for paying it down.

 

[NorCALSpeed]

Weakening the dollar lowers the cost of paying interest on the national debt, now exceeding 40 trillion dollars.

The problem is everyone gets a haircut. The only "solution" being proposed for the debt is to grow the economy so that debt is less punishing. There are no proposals for paying it down.

According to polls, a majority of Americans support a tax on billionaires which could help pay the debt down but the odds of that happening get slimmer by the day. We're in interesting financialization times.

 

[Jimi Jah]

Any tax confiscation from billionaires won't be enough to pay down that debt. We could take all of their money, not enough.

If that initiative in California passes (it's leading) the billionaires will quickly leave this state and take their business and money elsewhere. In the end, California will lose more than they confiscate.

If confiscated that money will be spent on new "programs". Paying off debt is not in their wheelhouse.

 

[ikeo1]

Have you seen anything about gold being on the Treasury ledgers @ $45/oz? I’ve heard a few things recent history that we were considering valuing gold on our ledgers closer to current market values.

Yes, this would help out a few trillion and give us more credit on the credit card. I'm thinking it'll come out towards the end of the term. Gotta keep that market pumping while in office.

 

[ikeo1]

Any tax confiscation from billionaires won't be enough to pay down that debt. We could take all of their money, not enough.

If that initiative in California passes (it's leading) the billionaires will quickly leave this state and take their business and money elsewhere. In the end, California will lose more than they confiscate.

If confiscated that money will be spent on new "programs". Paying off debt is not in their wheelhouse.

Many have already left..

 

[NorCALSpeed]

Any tax confiscation from billionaires won't be enough to pay down that debt. We could take all of their money, not enough.

If that initiative in California passes (it's leading) the billionaires will quickly leave this state and take their business and money elsewhere. In the end, California will lose more than they confiscate.

If confiscated that money will be spent on new "programs". Paying off debt is not in their wheelhouse.

Yeah we need a multi-pronged approach: spending reduction (so many ways to do this) + increased taxation on corp. and billionaires. We have a lot of things aiding the debt right now.

One plan I've seen that is being called the most effective is a spending tax (on billionaires). So rather than tax them on their income (as many claim no or low income), you tax them on what they buy (they used bank loans to fund their lifestyle, $400m yachts, etc). Maybe they could do that at a federal level so the rich can't flee a state they don't like or - in Bezo's case- make all your money in WA and then ditch it for FL when you leave.

I'm getting us off topic though.

 

[Dvrjon]

Many have already left..

Frankly, the millionaires are also bailing. They understand that when the billionaire tax doesn’t work, they’re next in line.

Any efforts to stop this initiative are merely seeking to delay the social-ist transfer of wealth until the wealthy execute their exit strategies.

 

[JohntheBaptized]

Russia has sold several tons recently, so that’s effected an already shaky gold price. The jobs created will be corrected again in the middle of the month, so I think gold might dip too high $3k, but a lot will need to happen. I believe $4k is the new floor and is getting ready to take off again just like I think $60 is the floor for silver.

Looks like I was half right. My sources were good, I just happen to misremember what they said. DCA guys

 

[1recluse]

"Frankly, the millionaires are also bailing". They understand that when the billionaire tax doesn’t work, they’re next in line.
Any efforts to stop this initiative are merely seeking to delay the social-ist transfer of wealth until the wealthy execute their exit strategies.

As well they should. To many titty suckers these days.

 

[NorCALSpeed]

"Frankly, the millionaires are also bailing". They understand that when the billionaire tax doesn’t work, they’re next in line.
Any efforts to stop this initiative are merely seeking to delay the social-ist transfer of wealth until the wealthy execute their exit strategies.

As well they should. To many titty suckers these days.

Some of the ultra-wealthy got wealthy because of gov subsidies (titties): Walmart, Musk, others. Who (meaning people or corp.) should get money from the gov. (meaning our tax dollars) is a debate that may not ever be uniformly accepted because that's the nature of subjective reasoning. I just want to see companies like Wal-Mart stop using their profits for stock buybacks while their employees qualify for food assistance.

Nuance is important but rare in political discussions, problems, and solutions.

 

[1recluse]

That is well reasoned response. Thank You! Let's use your example, of Elon Musk as being subsidized. I know little more than what you mentioned, about Walmart employees.
SpaceX employees 22,000
Tesla employees 174,785
I have no idea, how many contracted personnel get paychecks via work performed for either entity, but it is a load. The circular investments between the Tech Companies (a little scary) employees how many people getting paychecks, as a by product, from Elon Musk?
How many people does the Government employee? Do we get the same ROI for those? .
I'm a firm believer in giving to charity! I am against the Government being the conduit for my giving.
Live Well

 

[DrJonesUSA]

Just learned online that Samsung just announced a new fancy, high-tech EV battery…… that will require ONE KG OF SILVER….!!!!! PER BATTERY!!!!!

So yeah; just based on that alone, I’m loading TF up again…..

Couple links - yes, its really real:

Samsung's 600-Mile-Range Batteries That Charge in 9 Minutes Ready for Production/Sale Next Year

Samsung claimed they were smaller, lighter, and safer, capable of driving 600 miles, and charging within 9 minutes.

www.goodnewsnetwork.org

Samsung’s Silver Solid State Battery Technology. 1 Kilogram of Silver per Car

Samsung's solid-state batteries could significantly impact the silver market, with each battery using up to 1 kg. If 20% of cars adopt this tech, annual demand might reach 16,000 tons.

silverseek.com

 

[DrJonesUSA]

Prices continue to plummet. Gold is ~ $4,000 and silver is at $59.50. How low can they go? Anybody selling on the way down or are you all HODL?

Sell? No way man!
I’m holding onto mine for the very long haul. I’m glad I’ve got some paper profits - I started buying when silver was under $20 - but I’m not gonna sell until…. Well, IDK exactly when.
But definitely not anytime soon.