Thread by @IronNCopper

1/ THREAD

I've heard the saying "an ounce of gold would buy you a good suit in the 50's", but I'd never before seen that applied to a Roman toga 2,000 years ago 😂

This article definitely deserves a thread.

zerohedge.com/markets/von-gr…

2/

I think a better way to word this would be to say that @JoeBiden is intentionally destroying America, that the Afghanistan withdrawal & the Russian sanctions had predictable results, and that the weaponization of the financial system took off after 9/11

3/

This prediction that a debt default is imminent was also echoed by @realDonaldTrump at his recent @CNN Town Hall event.

https://twitter.com/IronNCopper/status/1657533406425784320?s=20

4/

To me, a lay person, selling 'Treasury bonds' is a euphemism for 'taking out a loan', and, so, the US selling Treasury bonds to the @federalreserve is like me going to my father to ask for more money to spend on my drug addiction. Eventually the family is going to go broke.

5/

I feel like a #CBDC is just a sneaky way for them to devalue the currency, sort of like what Lebanon did recently, but without risking a revolt from the people. The ability to track transactions, retire savings, and implement negative interest rates is simply gravy.

6/

I did not know this about the debt ceiling, but these toothless policies are my main concern with advocates of sovereign state banks. Yes a sovereign state can print its own money to finance public projects, but only a full gold standard can prevent reckless spending.

7/

I'm not a big fan of these predictions (we saw how wrong it was with Japan), but it's interesting how the author suggests that Russia's political system needs to be modernized before it can grow.

8/

I was not aware that the US banks were already on the verge of collapse in 2019 when #COVID rolled around. With every passing day I start to feel, more and more, like the lab leak at the Wuhan Institute was intentional.

Also, 'repo' is yet, another, euphemism for a 'loan'.

9/

I hate this esoteric crap...

1. Gold is gold
2. Debt is what you owe
3. Derivatives & unfunded liabilities, I think, is what you will owe, like employee salaries

10/

It seems like one cannot talk about the US dollar without mentioning that, with the generous guidance of the @federalreserve, the US dollar has lost 99% of its value since 1913

11/

Unlike fiat money which is trivially printed by central bankers, Gold is a rare element created millions of years ago in the supernovas of distant, dying stars. So it retains its purchasing power.

Bonus points for referencing a Roman toga 😂

Source: sbcgold.com/blog/how-is-go…

12/

Again, my question to sovereign state bank supporters, if you remove all barriers to printing and spending money, how will you stop the greed of men in government?

13/

I believe the process of holding gold as a reserve asset has already begun as the Bank for International Settlements (BIS) has elevated gold to a tier 1 status. The only country stupid enough to sell of their gold assets is actually Canada.

cbc.ca/news/business/…

14/

We've seen this already happen as some European countries are buying in Chinese Yuan. Granted the US was on this collision course after they aggressively used the financial system as a weapon, but @JoeBiden was the last nail in the coffin. And a big nail, at that.

15/

I think what the author is describing is the mechanism by which countries established inter-currency exchange rates in the past by first fixing their own currencies to gold, and using gold as the universal metric.

investopedia.com/ask/answers/09….

16/

Some good news for physical gold holders, the value of gold might skyrocket as it begins to be used as the primary global reserve asset.