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Fed Begins Rationing Coins As Americans Horde Cash

Buck

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#41
wait, did i miss the part where they declared they would increase production???

i must have...that makes too much sense
 

Fatrat

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#43
Why not just devalue the money by 1/10, I hope I'm saying it right , old $100=new $10 and so on? And we just keep our change.
 

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#45
ones get to soiled to weigh accurately
20s a little better
Hundreds can sometimes be off ½ to one gram per hundred.

Just observations...
 

andial

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#46
Why not just devalue the money by 1/10, I hope I'm saying it right , old $100=new $10 and so on? And we just keep our change.
I might be reading it wrong but i think you are speaking of a re-valuation of the currency stronger, if i'm reading you right. What would gold be priced today with this new dollar?
 

Casey Jones

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#47
Bitcoin can't be shut down unless you shut down the entire internet.
Sure it can.

Try downloading a movie, a recent release, from a Russian or third-world website.

You're blocked.

Here's how I know it's blocked: In the early days of TOR, TOR would go around that...as far as the servers knew, I was downloading from Berlin or Paris or whichever was being routed. I actually got a lot of Ewe Toob stuff that were cut off for Americans.

Of course, in the last year, TOR no longer went through. Makes me suspicious of TOR and who's running it...I expect TOR voluntarily self-censored, rather than the Vietnamese video hosts becoming tech-sophisticated and worrying about American copyright law.

But the same damn thing will happen - when it is convenient to the Elites. Bitcoin will suddenly be as inaccessable as Robbin' Hood when the DOW is in free-fall.
 

Casey Jones

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#48
Why not just devalue the money by 1/10, I hope I'm saying it right , old $100=new $10 and so on? And we just keep our change.
There is no incentive to do that.

And, for the knuckledraggers...there's the Wealth Effect. The imbeciles think they're rich because they get paid a thousand a week.

And at the same time, they're angry that it costs nearly that in food at the local Piggly-Wiggly.

So, it would solve nothing and cost considerable, and not just money.
 

Fatrat

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#49
I might be reading it wrong but i think you are speaking of a re-valuation of the currency stronger, if i'm reading you right. What would gold be priced today with this new dollar?
Gold is $1761 right now 6/22/2020 and next day $176.10, main thing would be coins have value again....I don't think the government is willing to admit inflation killed our money.
 

Silver

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#50
Why not just devalue the money by 1/10, I hope I'm saying it right , old $100=new $10 and so on? And we just keep our change.
That's what Mexico did in the 80's when the Peso hit 10,000 to 1 Dollar, they issued the New Peso and the new rate was 10 Pesos to 1 Dollar. Old Pesos were no longer accepted and were no longer legal tender. Everyone had lost all Peso savings by then anyway.
 

Uglytruth

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#51
Think we better get ready for some form of that here......
 

Silver

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#52
Think we better get ready for some form of that here......
We still have the hyper-inflationary period to get through before the zeros get dropped...
 

EO 11110

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#53
That's what Mexico did in the 80's when the Peso hit 10,000 to 1 Dollar, they issued the New Peso and the new rate was 10 Pesos to 1 Dollar. Old Pesos were no longer accepted and were no longer legal tender. Everyone had lost all Peso savings by then anyway.
loaded question -- how did the nyc vipers make out....the ones that held the debt? guess who covered their gambling losses?
 

EO 11110

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#54
We still have the hyper-inflationary period to get through before the zeros get dropped...
indeed. but dont hold your breath. frn outlives all of us

collapsitarians ignore the fact that the nyc vipers have honed their craft over the last century, learning how to eat out the substance w/out igniting fireworks. a steady grind lower.......keeping the m-asses placated. and ignorant. my 401k might drop.....print more and give billions in holiday bonuses to the vipers during (not) Christmas season! thank you greenspan, bernanke, yellen, fisher -- the 100k in my 401k is everything to me
 

Silver

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#55
indeed. but dont hold your breath. frn outlives all of us

collapsitarians ignore the fact that the nyc vipers have honed their craft over the last century, learning how to eat out the substance w/out igniting fireworks. a steady grind lower.......keeping the m-asses placated. and ignorant. my 401k might drop.....print more and give billions in holiday bonuses to the vipers during (not) Christmas season! thank you greenspan, bernanke, yellen, fisher -- the 100k in my 401k is everything to me
Frn is a derivative of gold and by agreement of Brenton Woods, a substitute for gold in international trade. Things will come back to the mean when trust with other powerful countries no longer exists. When too many zeros accumulate with dollars to gold, a similar process as the peso to dollar will take place. Started out at 20 dollars to an ounce of gold, now at 1750 to an ounce. Still a ways to go.

The Bretton Woods Dollar was not designed to last forever, and petro dollar was not designed to last forever. The current Dollar will be extinguished, but replacement will still be called a Dollar.
 

EO 11110

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#56
Frn is a derivative of gold and by agreement of Brenton Woods, a substitute for gold in international trade. Things will come back to the mean when trust with other powerful countries no longer exists. When too many zeros accumulate with dollars to gold, a similar process as the peso to dollar will take place. Started out at 20 dollars to an ounce of gold, now at 1750 to an ounce. Still a ways to go.

The Bretton Woods Dollar was not designed to last forever, and petro dollar was not designed to last forever. The current Dollar will be extinguished, but replacement will still be called a Dollar.
noticed that you didnt mention any timeline. you think we'll live to see it?

there is not a coming world currency. it is here. been here. it is the frn.

people routinely make the mistake of using US metrics to predict its doom. that is hogwash. have to use global metrics b/c it backs the world econ system - including all of its subordinated currencies like the euro, yuan, yen, peso, etc

think there are major competing currencies? go back and look at frbny bailouts and swaps. every time one of its alleged 'competitors' gets into trouble frbny bails them out with frn. rickards and people that screech currency war are an embarrassment

there is no reason to abandon the frn. it is working great for its owners. steady as she goes captain
 
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Silver

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#57
noticed that you didnt mention any timeline. you think we'll live to see it?

there is not a coming world currency. it is here. been here. it is the frn.

people routinely make the mistake of using US metrics to predict it's doom. that is hogwash. have to use global metrics b/c it backs the world econ system
The takedown is happening right now, the controlled demolition of America is obvious to anyone with eyes. Main Street closures, lockdowns, shutdowns, quarantines, money printing (10 trillion in last 9 months), fake crisis, unemployment, yada, yada. First is a deflationary collapse (next year to 18 months), followed by a inflationary depression (2 to 3 years), then, after that, a new system.

Study history, the PTB have no hesitation in wiping out whole countries and civilizations, turning antiquities into rubble, and killing every man, woman, and child. Burning civilians in firebombings, starving 10's of millions to death. The blood feasts happen routinely, the most civilized countries in the world were wiped out 75 years ago - burned to the ground. They're getting restless again.
 
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EO 11110

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#58
The takedown is happening right now, the controlled demolition of America is obvious to anyone with eyes. Main Street closures, lockdowns, shutdowns, quarantines, money printing (10 trillion in last 9 months), fake crisis, unemployment, yada, yada. First is a deflationary collapse (next year to 18 months), followed by a inflationary depression (2 to 3 years), then, after that, a new system.

Study history, the PTB have no hesitation in wiping out whole countries and civilizations, turning antiquities into rubble, and killing every man, woman, and child. Burning civilians in firebombings, starving 10's of millions to death. The blood feasts happen routinely, the most civilized countries in the world were wiped out 75 years ago - burned to the ground. They're getting restless again.
damn. i hope that's not the case. how should we prepare
 

Casey Jones

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#60
That's what Mexico did in the 80's when the Peso hit 10,000 to 1 Dollar, they issued the New Peso and the new rate was 10 Pesos to 1 Dollar. Old Pesos were no longer accepted and were no longer legal tender. Everyone had lost all Peso savings by then anyway.
India just did much the same, two years ago. In that case it wasn't a new numeration, but just new-colored bills. Small denominations and limited - everyone is supposed to get and keep money online. Of course that's practical for Calcutta street beggars.

But people who didn't rush to the long lines to change money...found their old money was outlawed and criminal penalties assessed for owning it. Plenty of Indians lost much of their savings.

It may well happen here, too...especially with the seeds of hyperinflation being sown.

That's why I hold few dollars and much Au.
 

EO 11110

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#61
India just did much the same, two years ago. In that case it wasn't a new numeration, but just new-colored bills. Small denominations and limited - everyone is supposed to get and keep money online. Of course that's practical for Calcutta street beggars.

But people who didn't rush to the long lines to change money...found their old money was outlawed and criminal penalties assessed for owning it. Plenty of Indians lost much of their savings.

It may well happen here, too...especially with the seeds of hyperinflation being sown.

That's why I hold few dollars and much Au.
they also moved against gold. and we all know how queer the indians are for gold
 

FunnyMoney

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#62
What did you get wrong? Just about everything.

Bitcoin DOES NOT require an exchange to operate. It requires the internet to operate but NOT an exchange.

I can trade bitcoin to another user for gold/silver/food without the use of any exchange. In the early days of bitcoin exchanges didn't even exist. Those came about later after there was enough money in it to incentivize someone to start one.

Funny you use the same argument used against Gold. YOU CANT EAT IT!!! Well gold does have a very small industrial use but for the most part no one needs gold either.
My point about not being able to eat it is that it does not have a unique function which is widely used. Gold has 5000 years of history as being *very* desired, in use for money and to wear as something which looks nice with nice clothes. Bitcoins function is not as widely used, not even close, and to exchange your bitcoins for something you want, you would have to first make sure the party selling what you want will take those tokens, which makes it usually easier to use an exchange or find someone to buy your token in exchange for the coin of the realm, which *is* extremely widely used and accepted everywhere or almost. I already said or tried to say, that if bitcoins ever become more desired to either use or hold on to than many other things, then that would be different and it by itself could force the Internet to always be up and never monitored/controlled.

In terms of the token's arbitrary value (not previously mentioned) and the fact that the Internet (where most people live) can be controlled (was mentioned and you did not address it although you did say, "...wrong... Just about everything." in your reply to my previous post), I believe my case about the risk of your investment disappearing is correct.
 

FunnyMoney

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#63
That's what Mexico did in the 80's when the Peso hit 10,000 to 1 Dollar, they issued the New Peso and the new rate was 10 Pesos to 1 Dollar. Old Pesos were no longer accepted and were no longer legal tender. Everyone had lost all Peso savings by then anyway.
When they removed 3 zeros off the money you did not lose any money unless you did not exchange for the new bills within one year. During that year both new and old notes circulated together. If you had put away money somewhere and forgot about it and the year went by, then big trouble for you.

This does not mean inflation did put heavy tolls on the average person there during the late 80's and early 90's. The peso has been declining against the dollar ever since, although at a much slower pace than during that period. A number of Latin Am. currencies are great shorts (only big players can play that game and FOREX not for the faint of heart).
 

FunnyMoney

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#64
noticed that you didnt mention any timeline. you think we'll live to see it? ...
there is no reason to abandon the frn. it is working great for its owners. steady as she goes captain
I would not call it great. Clinton and the subsequent leaders sold us down the river for their own graft and Asia region will see several currencies take top positions above the dollar. I'm expecting even the worthless Ruble to top the dollar over there one day.

On this side of the world, the FRN yes, but Europe already has moved away from using only the dollar.

When you say "for its owners...," well of course, obviously yes, anyone with access to an electronic printing press...

When, you ask? The decline of Rome took 300 years. Frog is already pretty hot though, so who knows. It might have a heart attack.

What about that narrative though? Have you noticed how they played that race card? ...after they saw some reactions taking shape, just at the right moment, when some people were beginning to ask about the crazy idea of trampling the constitution, to save some lives from the flu, by sending half the nation into poverty, switch-a-roo, race card here we come again. Its like a 'T' card in the game of bridge. Slick, wouldn't you say?
 
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FunnyMoney

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#65
I'd seen it before. Don't they finally strike gold after that scene?

Riches are an illusion as well, nobody is taking it with them and the govt is there to steal it from you at every turn while you're here.
 

Unca Walt

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#66
So for 99.99% of human history we could live without it, just not the last 100 years.
ABSOLUTELY CORRECT!! Although I would say you can date it from the time we switched to a fossil fuel-powered economy.

Your snarky answer goes right up your own nose.

I say "snarky" because you were given the knowledge in my previous post... you just did not assimilate it, and went on with a one-liner to my careful explanation.

I will granulate it a tad further for you:

1. With the advent of gasoline engines, the exclusive farm animal source for cultivation and transport of goods lessened with every year. Eventually, farm animals as a form of labor or transport of any kind became ZERO. There are no farms, no horse-drawn city carts, yada, anywhere. All gone and no longer available.

2. With the advent of the first real computer technology hitting the human race, communications exploded. Humans were able to communicate at a level impossible in the previous "99.99% of human history".

3. At this point, I should not have to go on, but I will draw your attention to the now-obvious: All our infrastructure -- ALL OF IT -- depends totally on computers and communication.

When you filled your car with gas this morning... that gas got there -- at that price -- after the computers that ran the fractioning towers, the computers that scheduled the trucks, and the computers that kept the electricity going to the gas pump (and ten thousand steps in-between and afterwards.

4. The last bomb: We can no longer survive as a civilization without gold for communication, commerce, any sort of civilized infrastructure if we have something happen (again) that already happened at the dawn of our ability to communicate instantly:

Carrington Event. It was 1859, so you can see we were still in an agrarian society, there were no cities of 16MM people. Well... we damn' near had a repeat Carrington Event on July 23, 2012. I ask you to read this C&P:

On July 23, 2012, a plasma cloud or "CME" rocketed away from the sun as fast as 3000 km/sec, more than four times faster than a typical eruption. The storm tore through Earth orbit, but fortunately Earth wasn't there. Instead it hit the STEREO-A spacecraft. Researchers have been analyzing the data ever since, and they have concluded that the storm was one of the strongest in recorded history. "It might have been stronger than the Carrington Event itself."
https://science.nasa.gov/science-news/science-at-nasa/2014/02may_superstorm/

If it had hit, SilverBuyer, it would have destroyed human civilization. Why? Because every form of communication, every form of electrically-powered machinery, every automobile... all permanently destroyed.

So yes, I presume to say that your question has been factually answered as to the very real need for gold for our actual, physical survival for this last "0.01%" of time. If you ate cereal for breakfast, GOLD got it there.
 

andial

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#67
Gold is $1761 right now 6/22/2020 and next day $176.10, main thing would be coins have value again....I don't think the government is willing to admit inflation killed our money.
Under your scenario Debts would have to be paid back with a more valuable currency than originaly borrowed with. That would be a bankers wet dream. Do existing debts get reduced or eliminated in your scenario?
 

Bottom Feeder

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#68
<heh> I'm stealin it.

On July 23, 2012, a plasma cloud or "CME" rocketed away from the sun
From the site Walter quoted:
Multi-ton transformers fried by such a storm could take years to repair and impact national security.
I have read, that with the grid shut down, these will be damn near impossible to replace.
Had the eruption occurred just one week earlier, the blast site would have been facing Earth, rather than off to the side, so it was a relatively narrow escape.
One week —whew!! I did not know this, dang.

BF
 

Unca Walt

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#69
<heh> I'm stealin it.


From the site Walter quoted:

I have read, that with the grid shut down, these will be damn near impossible to replace.


One week —whew!! I did not know this, dang.

BF
YOWZA, bro.

Kinda puts Antifa riots in a somewhat different perspective: They're just acting now the way all survivors will be acting one year after the next (and last, for the world as we know it) Carrington event.

Well... I am not afraid of anything. And that scares me. :don't know:

But I've awreddy been shot, stabbed, blown up, run over, poisoned, and insulted. As long as I have weed, let the Carrington Wheel Of Fortune spin.

Just don't hit the "Backrupture" tag.
 

Unca Walt

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#70
One more note just to convince all who think gold is not important to our survival:

A Carrington Event has happened TWICE (that we absolutely know of) in the last 150 years.

Prior to @150 years ago, Carrinton Events have certainly occurred hundreds and hundreds of times during 99.99% of human history.

And there was no way anyone could notice. No effect.

0.01% time is today. You got a wind-powered well? Oxen? Me neither... my ass, just like everyone else's depends on gold keeping us alive, now that we have entered upon a time in human history when there is a known break-point that never existed before.

I have always held that intelligence is not a good survival trait. We have a brand-new, divide-by-zero rapidly changing society, and it has put the human race in a place more dangerous than we've had for half a million years.
 

Fatrat

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#71
Under your scenario Debts would have to be paid back with a more valuable currency than originaly borrowed with. That would be a bankers wet dream. Do existing debts get reduced or eliminated in your scenario?
Reduced.
 

andial

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#72
Are wages/benefits food, housing prices reduced also? If so same situation for the people just less zeros i have no problem with it. But i think they just don't want to make the coins anymore, plus fed/gov capitalism loves more zeros and control of their script.