When I started this site nearly 2 years ago I saw the dangerous personality traits that Mr. Trump exhibited in his public appearance. I spent hundreds of hours watching videos of a young Donald Trump transitioning into the wonderfully realized character of Donald Trump. A few of my opinions changed.
Although I have never really doubted my belief in President Trump’s sincerity when it comes to his America first policy, his incredible devotion and love for his country comes through in virtually every interview he has ever given when the topic is broached. His passion for this country, especially for the less fortunate, is obvious. He wants these low skill, goodhearted people paid well and treated well.
Unfortunately, his other ignorance of economics and the limits of government power are two egregious to ignore.
The next few months, for the next year or so, might be great if he continues to push big deficit spending. But those bills eventually come due.
He will be blamed for the crash, but it will not be his fault. Decades of federal reserve printed fake money is the root cause.
Excellent article about gold and Bitcoin.
My current thesis is that Elvira N of Central Bank of Russia has already started a project to link the ruble to a cryptocurrency, a cryptoruble, fully convertible to gold at, let’s imagine, 1 mg per ruble.
It takes 50 ruble for a dollar, and a gram of gold is worth $40, or R2,000 for a gram. It would be a shock devaluation by 200% against the dollar, but gold would quickly change that.
As a stable sovereign nation, the crypto ruble would quickly be accepted and useful worldwide. Russian experts would quickly open black-market branches where Nigerians, Vietnamese, Australians, Indians, Mexicans, and even Americans come to bring gold and exchange it for crypto ruble.
The sharp rise in export cost would be a challenge for the first year, but the massive increase in what rubles will purchase on the international market would more than make up for it.
If gold hit $12,000 oz then Russians would be sitting pretty to have the next World Reserve Currency.
What do you think?
On Dec 22, 2017, at 10:36 PM, Michael xxxxx <xx.xxx::>
Doesn’t sound like it would catch on. I don’t think gold makes sense as money at all any more now that cryptos exist. Gold to me is an insurance policy and store of value to hold. That’s about it.
Thanks for the reply.
The problem with crypto is that they, de facto, cannot become physical, except transactional. Lack of transactional ease of crypto to dollar/euro hurts adoption as currency, and it will not get better as long as Western governments depend on fiat money as their buffer for massive economic dislocation due to debt.
The problem with gold is transport and authentication. I can’t use a 1 g gold piece to pay for a pair of socks… Yet. Combining gold and crypto is the motherlode.
Sovereign certification adds cachet. The ability to transform it from crypto to physical gold helps too.
If you can combine all three, where the crypto unit is tied to physical gold guaranteed by a sovereign…I think that will become the first critical mass crypto currency.
Donald Trump has been even more horrifying as so-called leader of the free world than I even imagined possible.
Thank God Rand Paul has his ear. He is the only sane voice whispering in it. The rest of them are warmongering psychopaths.
The transformation of Trump into Mussolini is almost complete. God help us all.