Limited Government Requires Hard Money

2021 May 21
tags:
by drdog09

Fractional Reserve as a system is the enabler that permits expansive government. More Money Today is just the latest iteration of this thought process. Government does not need to keep a balanced budget they just print it all and damn the consequences.

But what would be the alternative to the fractional reserve system? Surely you are not suggesting coinage? Well why not? for approximately 150 years if you did not have silver or gold in your pocket you did not have money. As much as that would work, it would tend to make certain conveniences hard to implement. But the alternative would be to put the USD back on the gold standard.

The first rout to this is usually – “There is not enough gold to back the dollar”. Well yes at the current price of ~$2000/oz. But at $90000/oz there is plenty of gold to back the dollar. Set up an open market operation and let the price rise naturally.

Why not BTC? Well the primary one is that there is a fixed amount of BTC per design. And yes you can fractionalize a million to a BTC. But even here it is a finite number. Gold on the other hand by our current extraction methods increases by about 3% per year. That is a close match to the world population rate. What would be interesting would be a gold back digital asset with all the BTC attributes.

From a political angle, the country needs to return to a hard currency stance. The initial effects will be hard felt. But in the long term we will be better off for it. The government will no longer be able to funny money with the Treasury – Fed trades. Fact over a long enough period the Fed can be eliminated.

56 Responses leave one →
  1. 2021 May 21 4:55 am
    [2]

    Limited Government Requires Hard Money…and we’re fresh out. 😉

    “The government will no longer be able to funny money with the Treasury”

    Which is why it’s not going to happen till externally forced, or the whole thing implodes.

    “From a political angle, the country needs to return to a hard currency stance.”

    Sure but would also require said politicians to have to actually make hard choices\decisions and then bear the fallout from them. Which I contend they’re not about to remotely entertain until it all comes crumbing down at which point most those responsible that may still be alive will have set themselves up already to avoid the worst of the fallout.

    1 – Why am I not surprised.

  2. 2021 May 21 5:12 am
    [3]
    drdog09 permalink

    the hand of the Lord will bring a terrible plague on your livestock in the field—on your horses, donkeys and camels and on your cattle, sheep and goats. — Exodus 9:3

    https://www.youtube.com/watch?v=IZogPol_JD8

  3. 2021 May 21 5:15 am
    [4]
    drdog09 permalink

    2,

    KH, can’t disagree with anything you pointed out. But like drug rehab, first step is to know you have a problem. That’s why I wrote the piece. 🙂

  4. 2021 May 21 5:18 am
    [5]
    drdog09 permalink

    I would say this vid — https://www.youtube.com/watch?v=hy7oWMJMEZg — is putting notice to the digital coin world that your time is short.

  5. 2021 May 21 5:26 am
    [6]
    drdog09 permalink

    Interesting engineering — https://www.youtube.com/watch?v=cfzj3rRIVU4

  6. 2021 May 21 7:33 am
    [7]
    gnqanq permalink

    Based on the going rate of silver at $27.80 (can not buy it at that – closer to $32 to $33 an ounce), those 5 quarters are now about $34.75 (5/21).

    #5 – yep. They (Central Banks) are going to make sure they have a monopoly on currency (exchange) and maintain CONTROL.

    Revelation 13:16
    and he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name.

  7. 2021 May 21 9:57 am
    [8]

    https://www.thegatewaypundit.com/2021/05/breaking-georgia-judge-calls-forensic-audit-fulton-county-ballots-large-discrepancies-21-found-ballot-batches/#post-comments

    Don’t get any hopes up like AZ they will be sabo’d and limited in every which way possible as already started with the order, such that ultimately the goal will be to let it progress only in such a way to not expose reality.

    https://www.thegatewaypundit.com/2021/05/tulsi-gabbard-calls-chicago-mayor-lori-lightfoot-resign-anti-white-racism/#post-comments

    ^^ I guess someone is planning on running again in 2024. 😉

  8. 2021 May 21 10:56 am
    [9]
    drdog09 permalink

    8,

    I would say at this point even if outright fraud was delivered to the court’s door, the election results will not be reversed. The weasels that got in will stay in.

    PS: least it will be complete — https://www.zerohedge.com/political/georgia-judge-decides-unseal-2020-absentee-ballots-fulton-county-review

  9. 2021 May 21 11:37 am
    [10]
    JimNorCal permalink

  10. 2021 May 21 12:29 pm
    [11]
    drdog09 permalink

    10,

    Wait, what is wrong with hermaphroditic? That is what a lego really is. Or has somebody forgot to look at the bottom of a Lego lately? I call Misandry.

  11. 2021 May 21 12:33 pm
    [12]
    Eph permalink

    Bitcoin… We hardly even knew ya!

    Lesson to be learned…

    When the Paulbots start pushing something, run the other way.

  12. 2021 May 21 12:35 pm
    [13]
    Eph permalink

    4 DR

    You should post that exact same again, just sub in the Wuhan vaxx

  13. 2021 May 21 12:38 pm
    [14]
    Eph permalink

    8 KH

    Give GWP credit for keeping #BidenCheated alive.

    Most on “our” side have given up.

  14. 2021 May 21 1:01 pm
    [15]

    Beware the Vagina vampire or vulva Valkyrie ,
    Lest they fry your balls on a red hot rotisserie,
    These dykes on bikes and divers of muff,
    Wear strap on dildos and like to play rough,
    Eschew these practitioners of militant misandry.

  15. 2021 May 21 1:25 pm
    [16]
    JimNorCal permalink

    5,7 Agree. If they produce a FedCoin it will allow them to tighten the screws on anyone who resists.
    You won’t be allowed to buy things, they can confiscate your savings, control your investing, your taxes will be inspected with a fine-tooth comb, and they will know everything about you.

  16. 2021 May 21 1:42 pm
    [17]
    JimNorCal permalink

    6, love that guy’s accent and his enthusiasm. His wife bought that for him as a gift? I’m guessing she’s an insightful gal LOL

  17. 2021 May 21 1:56 pm
    [18]
    JimNorCal permalink

    It was always just theatre.
    No masks at the White House anymore, May 20th.
    https://twitter.com/RobSchneider/status/1395586412121149446

    Ivermectin evidence coming in. HCQ or Ivermection has long been proposed as a treatment for the early days of infection. Doesn’t protect you from infection but leads to a mild case, no hospitalization if you get it early.
    https://www.americanthinker.com/blog/2021/05/dont_tell_fauci_more_evidence_for_ivermectin.html
    Don’t tell Fauci: More evidence for ivermectin

  18. 2021 May 21 2:00 pm
    [19]
    JimNorCal permalink

    18, One doctor I watched on YT was amazed that when people call with symptoms they’re told “Just sit at home. If it gets bad, go to the hospital”.
    Why not recommend a treatment? What other disease is treated like this?

  19. 2021 May 21 2:42 pm
    [20]
    PresidentRonaldPaul permalink

    autopsy of this crash interests me

    had lower highs and lower low with head and shoulder pattern on chart
    greyscale premium disappeared, and onchain metrics worsening on glassnode as in flows into exchanges
    crash was to the “golden pocket” 61.2% to 65% fib retracement at 30k.

    https://fr.tradingview.com/chart/BTCUSD/3WY9UC43-Bitcoin-And-The-Insane-Beauty-Of-The-Fibonacci-Golden-Pocket/?utm_source=amp-version

    Other btc crashes seem to hit this golden pocket as well as noted above

  20. 2021 May 21 3:00 pm
    [21]
    PresidentRonaldPaul permalink

    Not saying ppl should avoid taxes or try to escape the government in that sense….

    But this coin is going to going to be key in such efforts

    https://www.youtube.com/watch?v=dNDh-mPboPc

    Thor Chain devs are actually anonymous as well in the spirit of Satoshi.

  21. 2021 May 21 3:26 pm
    [22]
    PresidentRonaldPaul permalink

    On that Peter Schiff video.

    Could be wrong but…I think we have too much debt to raise rates to fight inflation. That’s why we need financial repression instituted like after WW2. YCC at 2% or 2.5%. Then let inflation run hot, and lie about the CPI. Let real inflation run at 10% or 15% or higher so real rates or minus 10-15% or so, and do this for 5-10 years. Then you just bleed the debt away until its more manageable. Once you get down to 50% debt: GDP ratio and get rid of the corporate debt, you can raise rates on the America people like Volcker did in the 80’s assuming the politics will ever allow any of this.

  22. 2021 May 21 3:36 pm
    [23]
    PresidentRonaldPaul permalink

    I use generally uniswap as a defi network on the ethereum network. Problem is it only works on the ethereum network (which is overwhelming large) but if you want to swap into other chains like binance or sol or polka or BTC etc, you can’t do so.

    Thor’s thesis is to link the universes with a chain to chain swap universe (without being centralized exchange like coinbase\binance) meaning no one can control it and you’re not stuck in one universe like you are with ethereum.

  23. 2021 May 21 3:52 pm
    [24]

    Greenwald shreds what remains of The Intercept.
    https://greenwald.substack.com/p/corporate-medias-double-standard

  24. 2021 May 21 4:01 pm
    [25]
    PresidentRonaldPaul permalink

    https://revolutionpopuli.com

    https://www.youtube.com/watch?v=LMsQFGjr4ng

    “RevPop is building a universal database for the internet. Right now everything you do is monitored, tracked, captured and sold by someone else and there’s nothing you can do about it. That’ll end.”

    “The Internet has a critical flaw. It’s not its fault, it was just incomplete from the beginning. There was no similarly decentralized database for it; it was just meant for traffic. So Facebook, Google, etc., stepped in & figured out how to capture all the data. From all of us.”

  25. 2021 May 21 4:23 pm
    [26]
    PresidentRonaldPaul permalink

    Former employees of famed GOP pollster Frank Luntz say his work is a “scam”
    Legendary Republican pollster claims to be “without bias”; former co-workers say that’s “frankly bulls**t”

    https://www.salon.com/2021/05/21/former-employees-of-famed-gop-pollster-frank-luntz-say-his-work-is-a-scam

    I remember watching this guy rig fake focus groups after every 2008 and 2012 debate against Ron Paul to tell the plebs how bad he did every time.

  26. 2021 May 21 4:27 pm
    [27]
    drdog09 permalink

    22,

    Yep. Some talking heads say that should rates rise to just 3% the govt is bankrupt. Probably true.

    There is another way the govt could go bankrupt — the rich leave, hand in their passports. What does Neiman Marcus and the USGov have in common? If the top 25% left the country its teats up. The rich are the most portable people on the planet.

    25,

    lbry is attempting the same thing but without the database. Weakness? Not enough nodes.

    18,

    Interesting thought experiment. When my parents were alive, they were about 30mi from the Turkey Pt nuke plant. Duke Energy, the owner, offered everyone within 50mi a vial of medical iodine upon request. Object was to prevent marrow destruction and protect the tyroid from low level radiation in the event of radiation leak.

    Now how hard would it have been to essentially use that protocol to distribute HCQ and vitamin D tabs? IRS has the data on every person in the country legal or otherwise that filed a tax return. Cross tab with SS database. Then use FedEx to ship it all out. Not suggesting it would have been a total cure but it probably would have been just as effective for ‘flattening the curve’ as the lockdown was supposed to but did not. And out economy would still be intact and would be $4Tn less indebted.

    Folks with comorbidities would still have died of course.

  27. 2021 May 21 4:40 pm
    [28]
    PresidentRonaldPaul permalink

    RevPop’s market cap has now fallen to almost it’s original value on uniswap after the crypto crash. It was actually was only listed in april…hmmm

    https://coinmarketcap.com/currencies/revolution-populi/

  28. 2021 May 21 6:54 pm
    [29]
    drdog09 permalink

    Oooops —

    “To date, there have been 227,805 reported adverse reactions following injection of one of the three Covid-19 “vaccines.” Bear in mind, this is data that’s accumulated on a self-reporting basis only. In other words, any Americans who did not know to report their adverse reactions to the VAERS system, which is likely the vast majority, are not included in the number. It’s almost certain the actual number of adverse reactions experienced by “vaccine” recipients is well into the millions.”

    — Still a low % (from official numbers) but higher than the press has been reporting if at all.

  29. 2021 May 21 7:41 pm
    [30]
    JimNorCal permalink

    “Could be wrong but…I think we have too much debt to raise rates to fight inflation.”

    Widely agreed to amongst econ pundits and normal folks …
    I liked the interview with Lyn Alden where she was asked what she would do in their place. She said she would have started earlier to solve the problem (not kick the can endlessly) and when pressed said she would resign the job LOL

  30. 2021 May 21 7:43 pm
    [31]
    JimNorCal permalink

    “Once you get down to 50% debt: GDP ratio and get rid of the corporate debt, you can raise rates on the America people like Volcker did in the 80’s”

    There’s no interest in preserving property rights, or freedom or markets.
    They are content to run the engine off a cliff and just install a centrally planned economy … with them in charge.

  31. 2021 May 21 8:05 pm
    [32]
    PresidentRonaldPaul permalink

    I’d do exactly what I said if I were in their position. You have to inflate for 5-10 years to get debt-GDP ratio down and corporate debt so you can eventually raise rates, which will also be painful.

    Problem is that the people who have to get screwed are fiat holders, bond holders, and treasury holders (the supposed safe assets.) Post WW2 we had real rates of -14% but some european countries had to go as high -70%. to get rid of debt.

    This plan works if you turn the temp up real slowly, but if you turn the heat up QUICKLY, then the bond and treasury holders all jump out of the water. If they don that globally the Fed probably buys it all meaning their balance sheet goes exponential in a short time period say to 60 trillion or whatever rather than spacing it out over 5-10 years. If the Fed has to do it all at once then the dxy will crash disorderly say down to 20-30 or whatever.

    You have to boil them slowly.

    Then once you get rid of the debt you can come back head rofflestomp the American people with 15% interest rates like Volcker did in the 80’s when he defended the dollar by raising rates and smashing inflation. After you inflate away everyone’s assets for 10 years you can make them default on their mortgages.

    That seems like the ideal scenario only politics won’t allow any of this. well just keep spending and bailing out.

  32. 2021 May 21 8:10 pm
    [33]
    PresidentRonaldPaul permalink

    I actually think debt is not an American problem but a global problem right now.

    Basically most countries need to grow at 15% or so ongoing just to service the existing debts let alone worry about new debt that would be created ongoing as we always do.

  33. 2021 May 21 8:30 pm
    [34]

    Kondratiev wave how I love thee,
    Left me not a pot in which to pee,
    Expecting 9 lbs of crap,From a 7 lb sack,
    How we wish the clock we could turn back,
    Our pooch has been porked it is plain to see.

  34. 2021 May 21 9:08 pm
    [35]
    JimNorCal permalink

    23, isn’t that the whole point of Polkadot?
    https://coincentral.com/what-is-polkadot/

    27, HCQ: hear! hear!

  35. 2021 May 22 4:34 am
    [36]
    drdog09 permalink

    “Basically most countries need to grow at 15% or so ongoing just to service the existing debts let alone worry about new debt that would be created ongoing as we always do.”

    No country in the West is going to see 15% growth. We are awash in crap nobody needs now. Demand is just not there. And even China, in its halcyon decade only reached that mark a couple of times.

    Nor do I think pushing the big inflate button solves the problem cuz it creates another one — gross income disparity. You want revolution? A great way to achieve it is to attempt what you propose. Don’t worry about investors looking for the exits, The People outside will be burning the place to the ground.

  36. 2021 May 22 5:51 am
    [37]
    drdog09 permalink

    Move the goal posts and guess what??? — https://www.zerohedge.com/covid-19/caught-red-handed-cdc-changes-test-thresholds-virtually-eliminate-new-covid-cases-among — There might not have been a classification for a pandemic to begin with.

  37. 2021 May 22 7:30 am
    [39]
    drdog09 permalink

    No… Its just dirt. Or as they say “cash is trash”.

  38. 2021 May 22 7:44 am
    [40]
    drdog09 permalink

  39. 2021 May 22 8:59 am
    [42]
    JimNorCal permalink

  40. 2021 May 22 9:04 am
    [43]
    JimNorCal permalink

    37. It was all theater from the start. Remember 22 million Americans alone would die?

  41. 2021 May 22 9:10 am
    [44]
    justrand permalink

    Every day I wonder whether we are at the 4th box yet.

    The Left has all but shut down the 1st box…the “Soap Box”. They muzzled Trump, and label anyone disagrees with them a “Racist” (at least), causing millions of Americans to “self muzzle)

    They stole the last election…which eliminates the “Ballot Box”

    “Justice” today depends on your political affiliation and/or skin color, so the “Jury Box” holds little hope for America.

    When enough people realize those three “boxes” are near useless, they will turn to the “Ammo Box”…or kneel and “learn to love Big Brother”

  42. 2021 May 22 9:25 am
    [45]
    JimNorCal permalink

    Eloquent, JR

  43. 2021 May 22 9:37 am
    [46]
    drdog09 permalink

    44,

    Maketh thy 4th box runneth over with plenitude.

  44. 2021 May 22 10:23 am
    [47]

    Random…

    National Timing Resilience and Security Act of 2018 – basically trying to revive LORAN-C\eLORAN program as a backup to gps (for reasons that should be obvious) that were shut down early in the Barry year for “reasons”.

    Supposed to be reports with in 6mo of passage, and some fucking deadlines to start implementation no later than 2 years after passage… yet it’s 2021 and the only thing I can find is them eventually getting around to the first report in Jan 2021 on some tech demo’s authorized in 2017 under different authority and executed in 2020.
    https://www.transportation.gov/sites/dot.gov/files/2021-01/NTRSA%20Report%20to%20Congress_Final_January%202021.pdf

    Follow up detailed version of report:
    https://www.transportation.gov/sites/dot.gov/files/2021-01/FY%2718%20NDAA%20Section%201606%20DOT%20Report%20to%20Congress_Combinedv2_January%202021.pdf

    I’m confused though, wasn’t eLORAN already tested and being rolled out to many sites before they even shut everything down in 2010? Hell even un-enhanced C is better than nothing. Or am I wrong?

    Also even if a new system should be chosen and rolled out to provide higher granularity and have some ground penetration why not at least turn back on what already existed\exists for which at least some receiving gear exists before rolling out something entirely new? I mean I get it eLORAN doesn’t remotely have the accuracy to drive your car, nor is it going to be available in an underground parking garage or a basement of significance, but it will tell your ship\car\plane in 2d roughly where you are, and in a SHTF no gps sats situation that’s seems more than enough for many generic transport/nav use cases and it’s pretty resilient to jamming by comparison.

    I’m probably missing a ton of things, but figured maybe one of you knows far more about this shit and could shed more light on it and why all the seeming foot dragging, when something ‘good enough’ for a rainy day already seemed to exist, and all the other tech and transmitter-density (worse) needed for more granularity doesn’t seem remotely practical from a cost perspective for the gov to outright provide\fund (prior costs were in the ~40mil a year range when the network was fully operational). But yet we can print 10billion for like CRT and related fake racial bs of course.

    …/random.

  45. 2021 May 22 11:07 am
    [48]

    “Former employees of famed GOP pollster Frank Luntz say his work is a “scam””
    —-
    Duh.. not exactly new news.

    27 – Rich are generally the most portable – Yup which always makes me scratch my head when it comes states going insane on taxes, at some point most leave, and that’s after already going through the hassles of rearranging shit for years leading up to the move to minimize their liability – at some point unless you B level it’s like not worth the added effort just for an address\weather\relation\friends – cheaper to just move everyone you know out of the state with you. LOL

    cont.. hcq – That would have been too cheap and freedom embracing step\solution – not enough profit or damage for all the jackals to embrace. 😉
    Yup, a little rx tube with a 10-day supply with basic instructions that said…hey if you’re feeling all the symptoms take a couple of these while you wait for your doctors appt – use at your own risk but should you decide you want it – you have it. It wouldn’t have solved everything but it would have been more productive at least than shutting down for weeks that in may places became a ~year+. But any chance of that was shutdown in the opening weeks by MSM and pols (I repeat myself) by shitting all over any possible cheap and effective preventive and pre-hospitalization level measures. Crashing the economy and instilling unwarranted level of fear was the goal, and sadly the WH played right along.

    29 – Numbers are racists… unless of course they favor the approved narrative…then they’re settle science, and can’t be challenged or debated… that is unless the narrative does a 180 – then all old numbers are to be forgotten and scrubbed where possible and referred if one must to “preliminary”. 😉

    37 – But of course… you have no idea how deep the cesspool is at CDC, well actually most of you do now over the last ~year.

    44-46 – nodders

  46. 2021 May 22 12:48 pm
    [49]
    drdog09 permalink

    47,

    Did not even know there was a plan to revive Loran.

    Anecdote. Father and I used a LoranC receiver to locate the prime fishing and scallop sites during the seasons. Compact and reasonable @ $300. Effective? Good enough for fishing. It would get us within a half mile of a wreck feature. We could usually find the wreck site within 15min. Put that in a Tesla, Ha, what a joke.

  47. 2021 May 22 12:54 pm
    [50]
    drdog09 permalink

  48. 2021 May 22 3:19 pm
    [52]

    forgot my ass. 🙂

  49. 2021 May 22 7:19 pm
    [54]
    drdog09 permalink

    53,

    Nice color pattern, Lt. might suggest he take point…. 🙂

  50. 2021 May 22 8:18 pm
    [55]
    JimNorCal permalink

    53,54, LOL

  51. 2021 May 22 9:28 pm
    [56]
    JimNorCal permalink

    More Babylon Bee:
    “Lori Lightfoot Flees In Terror After Thomas Sowell Takes Her Up On Offer For Black People To Interview Her.”

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