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Agnostic: I'm gonna need more proof of that shit.

Admittedly this feels a bit absurd for now, when most of us still have fiat-denominated wages, expenses and debts. Yes, we are still on the fiat standard. But as bitcoin gradually takes over, making mental calculations in bitcoin will become habitual.

When the problem of money is fixed via broad bitcoin adoption, the provisionary instruments will be repriced to a pure market value and utilized where it makes most sense: houses for living, bonds for predictable cash flow, stocks for capital allocation. These instruments are useful for society, but they have no place serving as a store of value. This is a role for sound money. https://bitcoinmagazine.com/culture/not-too-late-wealthy-with-bitcoin

A group of researchers has published a blog post at the International Monetary Fund’s website in which they call for a significant shift in how credit scores are assessed. Instead of being based on traditional metrics, the group believes banks should begin incorporating additional information, including your browser history. The rise of fintech services and cryptocurrencies have changed modern banking in a number of ways, and banks face an increasing number of challenges as various third-party payment processors interpose themselves between financial institutions and their traditional customers. The credit scoring systems used broadly in the US and Europe are based on so-called “hard” information — bill payments, pay stubs, and how much of your current credit limit you are tapping. The researchers point out that so-called “hard” credit scores have two significant problems. First, banks tend to reduce credit availability during a downturn, which is when people most need help. Second, it can be difficult for companies and individuals without credit histories to begin creating one. There’s a bit of a catch-22 in the system, in that what you need to persuade an institution to loan you money is a credit history you don’t have because no one will loan you money. https://www.extremetech.com/internet/326088-should-your-web-history-impact-your-credit-score-the-imf-thinks-so

I’m not sure how many of you out there are T-Mobile customers, but if you are, you should be aware of the news this week about the possible breach of 100 million T-Mobile accounts, with information potentially including social security numbers, phone numbers, names, physical addresses, unique IMEI (mobile device identifier) numbers and driver license information. This hack has NOT been confirmed by T-Mobile, who is currently investigating the claim. An anonymous hacker claimed, in an online chat, that they had breached T-Mobile as part of an international group that had access to the company’s servers for weeks. If you are a T-Mobile customer, if they confirm the hack, and if you are affected, you should expect to be contacted by the company with more information. For more about this developing store, you can read articles here and here.

Amid one of the craziest bull runs in stock markets in all of our history, calling out a bubble can be quite scary for many investors, but not for Jeremy Grantham. In a frenetic era of meme stocks, cryptocurrencies, and bidding wars, most people tend to overlook the risks and focus on the promise of future gains. However, there is an imminent and growing danger that this unprecedented mania might end up triggering the greatest stock market crash ever recorded. That's what the chairman of the board of famed asset managers GMO has been warning, stressing that we're in the middle of the greatest financial bubble ever seen. Grantham, an experienced investor who spent decades analyzing how bubbles are formed, has lived through and called numerous modern booms and bursts, including the dot-com crash in 2000, the market peak in 2008, and the market collapse of 2009. Now, he says that we're headed to a similar fate. To identify a bubble, it doesn't take much, he argues. You can see something is terminally wrong in the market when it makes the front pages instead of the financial pages when the news is full of stories of people getting cheated when new coins are being created every month. "The scale of these things is so much bigger than in 1929 or 2000," he stresses. The current stock market bubble has been fueled by artificial government policies that led many investors to believe overvalued assets could be justified by a booming economy. But as Grantham highlights, the economy isn't actually booming because there was no real growth in production, and very soon investors will have to confront that reality. And when they do, things will start to rapidly change in the market, leading this bubble to an epic burst. Grantham believes that the next stock market crash will cause an enormous negative wealth effect, bigger than it has ever been, compared to any other previous bubble burst. "It's the first time we have bubbled in so many different areas – interest rates, stocks, housing, non-energy commodities. On the way up, it gave us all a positive wealth effect, and on the way down it will retract, painfully," he warns. "This bubble is the real thing, and everyone can see it. It's as obvious as the nose on your face. Today, it is clear to me that this is the most dangerous package of overpriced assets we have ever seen in the US,” says Jim Grant, describing that we have the most overpriced fixed-income market in the history of the world. At this point, bubbles are emerging everywhere. Housing, equity, bonds, stocks, crypto. If they simultaneously crash, as most economists predict they will, this will undoubtedly be the sharpest collective loss of wealth ever recorded. That's why, Grantham is sounding the alarm to the greatest bubble in financial history, warning investors that history is about to repeat itself, and this time, the stage is set for an apocalyptic financial meltdown. Sharing a similarly dire forecast, finance, and economic expert, Alasdair Macleod, affirms that one of the biggest catalysts to the coming inflationary collapse were government policies that recklessly expanded our money supply, downgraded our living standards, our currency, and left Americans struggling with runaway inflation in that process. The expert emphasizes that “this has gotten to a point where we can’t go any further. We are at the top of the bubble. What happens when this market tops out? The dollar goes down with it”. Macleod adds to the predictions that the everything bubble burst is fast approaching: “ Look at the fundamentals in the economy. They are talking about economic recovery, but look at all the shops that are closed and never to be reopened. This is not a healthy economy. This is a very bad economy. The reason why prices are rising is you’ve got all this money being put into the consumers’ hands. This is the middle class here, and they are spending this money, and where is the production to satisfy the spending? It’s not there, it’s closed down. There is no solution. We are getting to the point that there is actually no exit from this mess,” he warned. A financial disaster of unprecedented proportions seems just a matter of time. With so much debt, and so little resilience, our over-leveraged financial system is doomed to face a reckoning and everyone that have seen this happening before is telling us right now that conditions in the markets are increasingly unsustainable. Those who have chosen to ignore the dark clouds that rising on the horizon will soon find themselves amidst the most devastating financial catastrophe of our lifetime.

Strike > Muun > Ledger? I saw a very interesting conversation on Reddit about this today:

That's the plan to solve the raising debt problem. Devalueing the savings = devaluing debt. It's a forced redistribution of wealth = collectivism = communism in the end.

On July 15, 1971, the President shocked the world by announcing on live television that he would visit China the following year. The week-long visit, from February 21 to 28, 1972, allowed the American public to view images of China for the first time in over two decades

Watch him shake his head at 1:05 as he says "Your dollar will be worth just as much tomorrow as it is today" In poker it is called a tell, in the real world it is called a lie.

Foreigners could still demand gold for Dollars until that date. The US wasn't able to fulfill that promise due to exploding debt caused by the Vietnam war. The French tried and sent warships to New York in order to pick up their gold. If other countries followed suit, the gold reserves would have depleted completely. When Nixon looked in the empty vault he knew the gig was up. As long as you can actually get the physical gold from the party with the printer, then the system can't just run amok, because there is always someone who will call you on your bulls#$%. Clearly it was not 100 % backed, but the system can work, as long as there isn't a run on the bank, like there was in 1971. In 1971 the USA was on the Bretton Woods system, USD was 40% backed by gold. This move by Nixon screwed over most European countries that traded with US. The USD was like holding gold, until the music stopped. The majority of Americans buy American made products. Fast forward 50 years literally nothing is made in America anymore In 1980, the US was the world’s largest exporter of finished goods and the world’s largest importer of raw materials. Now, they’re the world’s largest importer of finished goods and world’s largest exporter of raw materials. And now gas is $4.90 a gal in CA... Fed is still at it today with fiat money printing. Gas was .36 cents per gal 8/13/71 Also.. FWIW: This also allowed for the unlimited funding of the Democrats Welfare State we have today. Otherwise known as Johnsons Great Society.

vires in numeris

@Patiently waiting for Truth I was unaware of the blackpill reference meaning. What a sad story..... Society does feel like it is crumbling.

Yes also bizarre that they are not using ivermectin and ruthlessly suppressing discussion of it. Looks like their goal is NOT stopping covid but getting people in lockdown and getting them vaccinated:

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