The great debt crash

[furrowtickler]

It's just a BIC lighter at best.

South Africa has to shut electricity off for 10 hours a day, because of break downs and aging power plants.

Business and manufacturing can't function and investment is leaving.

Nothing but a pipe dream for the cheerleaders living and enjoying their freedom in the West.


Furrow, who invaded who, and how many Russian citizen have been murder or displaced other than the ones fleeing from dictatorship and conscription.

Like I've said before if your guy was in power here in Canada and the USA there wouldn't be a discussion about the West helping Ukraine.

Russia invaded Ukraine, never said anything different

And yes many are fleeing Russia I would imagine
And who’s “my guy “ ?
I am in now way defending anyone , especially Russia
Don’t be a chuck with false assumptions

[foragefarmer]

Russia invaded Ukraine, never said anything different

And yes many are fleeing Russia I would imagine
And who’s “my guy “ ?
I am in now way defending anyone , especially Russia
Don’t be a chuck with false assumptions

"If China threw a bunch of bio labs and weapons into Mexico, what would the US do ????? Bomb the shit of them hands down!!!"

And just who's making the assumption?

You sure make it sound like Putin had a reason to invade Ukraine when you say it like that.

Putin was against the breakup of the USSR from day one and has wanted nothing more to get it all back through any means, there's your reason.


Add on

Wasn't Harper your guy? He publicly stood up to Putin when he invaded Crimea in 2014

[furrowtickler]

"If China threw a bunch of bio labs and weapons into Mexico, what would the US do ????? Bomb the shit of them hands down!!!"

And just who's making the assumption?

You sure make it sound like Putin had a reason to invade Ukraine when you say it like that.

Putin was against the breakup of the USSR from day one and has wanted nothing more to get it all back through any means, there's your reason.


Add on

Wasn't Harper your guy? He publicly stood up to Putin when he invaded Crimea in 2014

Yup Harper did , and as soon as Trump left office Putin started his move and all current leaders stood by and watched it happen and never said anything as Putin amassed forces on the Ukraine boarder for a year .
Either way , It’s the citizens of Ukraine that are taking the worst of it by the millions and it needs to stop

[errolanderson]

Another key recession indicator ocean freight. Global commodity price deflation now hitting hard. The Baltic Dry index is a key indicator of dry bulk ocean movement and costs. This index is also an indicator of deflationary pressures impacting global commodity markets. Last Friday, this index lost 2% alone. For the 2nd quarter of 2023, the Baltic ocean dry freight index collapsed 21% in-value.

Deflationary price pressures across commodities now clearly accelerating which are being magnified by the debt crisis plus rising corporate bankruptcies. Brace for further auto industry and commercial real estate fallout; a bullseye for further devaluation and price cuts heading into 2nd half 2023. Money velocity has plunged (another recession indicator). Consumers putting away their wallets.

Central bankers appear not to watch any key commodity economic indicators for guidance.

[shtferbrains]

Pie in the sky is getting tougher to peddle.

[AlbertaFarmer5]

Pie in the sky is getting tougher to peddle.

[ATTACH]12865[/ATTACH]

Could it be said that Ponzi schemes such as these aren't very sustainable with net outflows of capital?
Pun intended.

[jazz]

BRICS currency preview to be rolled out in August, gold commodity backed.

Watch the US fed and treasury flood the world with dollars to try and dilute this move.

I think errols wrong here. We are about to have a huge melt up. Debt be damned when the reserve currency is under threat.

[foragefarmer]

BRICS currency preview to be rolled out in August, gold commodity backed.

Watch the US fed and treasury flood the world with dollars to try and dilute this move.

I think errols wrong here. We are about to have a huge melt up. Debt be damned when the reserve currency is under threat.

Jazz, it's time for you to short the US$, and sell all your North American investments in order to be ready to buy BRICS currency when it hits the market.

It will be just like an IPO for you, getting in on the first day with all excitement that follows such offerings.

I know you've had a hard-on for this opportunity for a while now, make sure you act on it.

[AlbertaFarmer5]

BRICS currency preview to be rolled out in August, gold commodity backed.

Watch the US fed and treasury flood the world with dollars to try and dilute this move.

I think errols wrong here. We are about to have a huge melt up. Debt be damned when the reserve currency is under threat.

Can you explain your rationale, I'm not following why flooding the market with dollars would help. If anything wouldn't that expedite the flight from the dollar and make a gold backed currency even more appealing wouldn't it?

Or are you thinking the gold backed currency would be so strong that exporting nations wouldn't be competitive with such a strong currency vs a fiat that is being printed at will?

[Grahamp]

I love the BRICS idea but it won’t work. The US essentially defaulted on their gold backed paper in 1971. Think about what happened then. Do you think the BRIC countries are safer and more trustworthy than the US? Where would the Gold be stored? Whose vault? Do you think people will convert meaningful amounts of assets into a promissory note from China and Russia? It just won’t work.

[WiltonRanch]

I liken BRICS nations to the local group of reserves who went together to build a casino in the city. All fine and dandy. Great idea and successful business except none of them could get along and get their shit together. Built a gas station as well but has sat vacant unoccupied for 5 years. Of the 5 reserves only one is involved running the casino while the rest squabble. Remember BRICS was a brain fart of a couple American pundits who seen the potential of such nations to unsurp the American hegemony if they put their differences aside and got their acts together.

[jazz]

The proportion of financial transactions using USD has fallen from 68% to 54% in the last 10yrs. It’s already started.

If china wants to buy 100 cars of potash and wants to use yuan to settle are you really going to say no to that. Any one not comfortable with hold yuan can change the reserves to what ever currency they like after settlement. There is $10T a week done in FX every week.

BRICS will force the USD to repeg with a tangible asset and a revaluation of everything will occur. Maybe Ft Knox is full of gold.

The US has only 2 tools. The USD and it’s military and looks like it’s military is stalemated. So it will be the USD as the primary weapon for now. Yellen was just in china trying to get them to buy $850B in new issues. Imagine they will be making that same sell to many other countries including canada.