I read today’s essay three times. Joel’s addendum was helpful. I get it. My takeaway is that the bottom turtle has a lot of pressure on it. Much more and there’s going to be turtle guts everywhere. And not just the bottom turtle.
BPR is costing me a fortune! Every time I read something from these guys, I’ve got to go out and buy more gold.
Terry Pratchett's fantasy novel "Making Money", where the local mint introduces paper money to the city. Ha ha - he (Sir Terry) was just reflecting our reality and giving us a smile at the disaster - much like Bill does.
The only reason why Japan has not yet defaulted on their debt is that approximately 90% of the debt is held by Japanese investors which include Japanese seniors who have their life saving in Japanese bonds. But with a declining and aging population many will start cashing in their bonds to fund their retirement. What happens if the government of Japan cannot honor their obligations to those people who own bonds and the ripple effects that this would cause in the global financial markets.
A good question was asked in today's essay, what happens if a G7 country such as Japan defaults on it debt? It's one thing to have the international community offer a country like Greece, Mexico, etc a bailout but the hundreds of billions of dollar bailout that would be needed for a multi-trillion dollar economy would an impossible sell since most of the world's economy would like to collapse as well if such an event would occur.
"A decree backed by a promise backed by a lie backed by a fraud"
You missed the most important backing - a club or gun!
I read today’s essay three times. Joel’s addendum was helpful. I get it. My takeaway is that the bottom turtle has a lot of pressure on it. Much more and there’s going to be turtle guts everywhere. And not just the bottom turtle.
BPR is costing me a fortune! Every time I read something from these guys, I’ve got to go out and buy more gold.
Terry Pratchett's fantasy novel "Making Money", where the local mint introduces paper money to the city. Ha ha - he (Sir Terry) was just reflecting our reality and giving us a smile at the disaster - much like Bill does.
The only reason why Japan has not yet defaulted on their debt is that approximately 90% of the debt is held by Japanese investors which include Japanese seniors who have their life saving in Japanese bonds. But with a declining and aging population many will start cashing in their bonds to fund their retirement. What happens if the government of Japan cannot honor their obligations to those people who own bonds and the ripple effects that this would cause in the global financial markets.
A good question was asked in today's essay, what happens if a G7 country such as Japan defaults on it debt? It's one thing to have the international community offer a country like Greece, Mexico, etc a bailout but the hundreds of billions of dollar bailout that would be needed for a multi-trillion dollar economy would an impossible sell since most of the world's economy would like to collapse as well if such an event would occur.
So when will the Elite create a new currency they can control?
Past recessions it used to be cash is king. If not true anymore, what is.