Fall of the Fiat Empire: Why We Can't Escape the Debt Trap

Alasdair Macleod sheds light on the vulnerabilities of fiat monetary systems and the potential consequences they entail. In this eye-opening discussion, we explore why central banks around the world are caught in an inescapable debt trap and examine the historic significance and enduring allure of gold as a stable store of value. With its unrivaled track record, gold has stood the test of time throughout countless monetary fluctuations. Uncover the reasons behind its reemergence as a trusted safeguard against economic volatility and inflation.
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00:00 Introduction
01:23 Difference Between Gold and Fiat
06:27 End Result of the Debt Trap
20:22 Gold and the Russian Economy
32:41 Nations Considering a Gold Standard
44:10 How To Execute a Return to Gold
#usdollar #fiatcurrency #gold

[@martinleepgg]

Storage, if you don't hold it, you don't own it.

[@EatMyOats]

In US, when your forced to Leave your home, how will you conceal an extra 10 pounds?

[@outshout1054]

It's trust, there's no safe haven without trust when your neighbour could just kill you... gold is the last medium of exchange before its feudal.

[@GrandSolarEclipse]

It is time to leave the US. Its collapse will be horrible.

[@outshout1054]

@@GrandSolarEclipse where you going?

[@WeekendsOutsideFL]

Should I trust China to store my gold?

[@canttakeanymore]

Great interview--this guy is awesome. He's right too: most people don't understand anything about money. Thanks!

[@danielhutchinson6604]

The use of doubletalk and check kiting, to cover Value implications of any currency, became more common after 1980. Economists and Banksters embellished the Art to the contemporary form.....

[@paulheydarian1281]

I love storing shiny metals in all kinds of forms & colors. My Precious...!!!😅

[@frankblangeard8865]

One ring to rule them all!

[@nickupton2123]

Alistair McLeod is amazingly erudite, excellent information. But the future is hard to foretell.

[@johnboettger864]

So you think All-Is-Air is erudite (I had to look that one up, means learned). I think he is a moron. So it goes.

[@nwofoe2866]

the roof is creaking & the forecast is for a 100-year snowstorm. Not hard to foretell what's going to happen.

[@xxxchurch100]

@@DJ-tn3ovhe has missed the mark many many times

[@chrisbova9686]

It's human perception of time that makes it seem like the future is hard to tell. That and human underestimation of the degree the powers that be will move the goalpost as much as they can get away with.

[@gregwang8628]

In 800 AD Tang dynasty in China, the then emperor invented a system called Flying Currency, to ease the burden of transporting heavy silver ingots or copper coins, so a paper was issued by the third party official escrow guarantees that silver or copper to be paid when presented at a different locale. When this system was picked up by then colonialists they turned it into fiat currency like what we have now. The major difference is it was then a paper proof of the real thing, never meant to be credit. The real problem we are facing today is a moral bankrupt system, trustworthiness is in 3:20 a serious decline!

[@cliveadams9128]

Always enjoy hearing from Alasdair. His explanations and insights hold your attention and you always want more.

[@johnboettger864]

Not me,,,, I pass on All-Is-Air.

[@jamesdonald7485]

Woodrow Wilson, when in 1913 he signed the empowering legislation for the US Federal Reserve System, is reputed to have said "My God, what have I done".

[@ayrplanes]

J. P. Morgan could have answered that question. I wonder if Nixon said the same thing after he took us off the gold standard?

[@Kingofthehill84]

​@@ayrplanes U.S depleted its gold reserves during a Vietnam War though 😂😅

[@dessmith7658]

The last words John Keynes said about fiat money was I liked the idea but now I'm not so Keynes

[@Tennyson138]

Thanks for the detailed analysis from Alasdair Macleod who is very knowledgeable on precious metals......

[@Mitch1929]

Alasdair Macleod is the only guy who knows the banking system inside out and will actually speak truthfully about it. He is a walking encyclopedia on currency, debt, credit and real money which is gold and a joy to listen to

[@Infodawg2012]

Alasdair is absolutely logical and knowledgeable.

[@danielhutchinson6604]

Old Alistair overlooks the content of resources in African Nations? Without resources the G-7 appears to have lost the ability to exploit. Without resources the Currency seems to display no actual value? The 40+ Nations who are now associated with BRICS, hold around 70% of available resources. Currency without resources, appears to display no actual value.

[@darcirae2058]

Thank God.

[@smithbrady6173]

Excellent. Thank you very much !

[@arouse6140]

Silver…🗡️ 11:01 Yes it’s a truth this“Debt Trap” can also be described as a “Mathematical Doom Loop” of exponential inflation as been observed with a hundred percent certainty. It’s not a question of if but when…

[@DBGE001]

Highly probable that the pivot point will be in 2024.

[@donaldduck926]

I came here for my Oxford English lesson.

[@richardwilliams1986]

My concise Oxford English dictionary is coloured blue 😂

[@danielhutchinson6604]

Refer to the English discussions of Well Dressed London Gentelmen, in 1853. The concept of Asian Unity was something that was appeared to piss Brits off? Here we are again.

[@matthewbond8275]

Thank you very much!

[@alizaman8783]

thanks Alistair, always nice to hear from you. Your predictions from last year didnt pan out though 😮

[@DBGE001]

2024 is the pivot point (in a real world scenario).

[@user-im6fy4qp6m]

very convincing and well spoken

[@farinshore8900]

The only way to escape the debt trap is to live within your means. If everybody did that, we could rob the billionaires of their wealth and power.

[@mijmijrm]

the essential value of manifest _physical_ gold (which shares the same physical reality as ourselves) is its objective evidential integrity. How many dollars (which are not anchored to objective reality in any way) can be exchanged on any given day doesn't change the essential value of manifest _physical_ gold.

[@danielhutchinson6604]

Believing that Value can be maintained by any Currency has seen some hills and Valleys.

[@neillynch-md3bm]

Alistair Mcleod has never been Chancellor of the Exchequer but Kwasi Kwarteng has.Makes sense!

[@Mitch1929]

Not only is Alasdair Macleod is too honest to be Chancellor of the Exchequer, they would never have him near them because he would expose them all for the charlatans that they are. I mean could you imagine what it would be like if Kwasi, Bailey and Alistair got round the debating table for a live tv discussion. It would never be allowed, they would be running scared of being exposed

[@alvin3171997]

Grateful for your channel. Are there any book recommendations that you would suggest for better finance knowledge? Besides rich dad poor dad and Jekyll island.

[@EatMyOats]

Economics in One Lesson - F.A. Hyack - free PDF @ many libertarian sites

[@CommodityCulture]

Agree with both suggestions made so far, I would add the Intelligent Investor.

[@tadanoshumi]

Princes of the Yen by Richard Werner is an essential, and an eye opening, read.

[@brendancarney6276]

Thank you gents

[@CommodityCulture]

Our pleasure!

[@ujku6984]

The issue is the trust with central Agencies. Is Alasdair missing this ?

[@nickmitchell2324]

For the final vision to work, ie new currencies backed by physical gold, then that gold would have to be vastly increased in relative value, because there’s not enough in existence.

[@Unhinged29]

There's plenty of gold in existence. It's finding and extracting it that's the problem.

[@danielhutchinson6604]

@@Unhinged29 Putin proposed the Gold Standard Currency over 20 years ago. How much do you suppose China has dug up in Tibet since then? South Africa also is a pretty goo Gold provider. Brazil has been accumulating it for years. The BRICS Group may have enough to dictate terms to the Planet. They also appear to have around 70% of available resources. They appear to have no problem. The G-7 has to negotiate with them for the industrial resources they need. How is that working?

[@danielhutchinson6604]

@@Unhinged29 How much do BRICS Guys have?

[@danielhutchinson6604]

@@Unhinged29 I attempted to insert a comment twice to yours, They moved it..... That is how the internet is destroyed.....

[@DBGE001]

Have a look at the disparity between the gold price in the US market and the PRC market. It is almost 2 digits in % value. Gold price in the US is being massively manipulated. @@danielhutchinson6604

[@marialangley5528]

Great interview. Crypto col

[@Au_Ag_ratio5021]

Are forever stamps a growth or dividend investment.

[@dabbbles]

Required Identification as re. gold ownership makes gold a non-starter. (about 100 years ago the Americans had 'Gold Collectors/confiscators knocking on the doors of anyone who had gold on the record.) What other options are there for storing 'wealth'? Any possibilities welcome.

[@jamesmedina2062]

thats what a vault is for.

[@ninjafoot1104]

I had Peter on the show recently. Stopped video immediately. Never coming back

[@brex50]

ACTUALLY ...HUMAN LABOR IS MONEY.....WITHOUT IT THEIR IS NOTHING OF VALUE....

[@johnmknox]

It will be intresting to know why GoldMoney is so expensive in terms of the fees they charge compared to rivals.

[@nickmitchell2324]

Alistair, very interesting, but confusing on likely trajectory of interest rates. Are they going down in 2024 or not? On one hand the economic recession demands lower by far, maybe even negative. On the other hand international buyers have already been dumping dollars for years and will likely not be heavy buyers of treasuries, needed to fund this years deficit spending. What is the answer to this conundrum? Or is this debt trap unsolvable and the system and $ collapses, and gold takes centre stage, sooner rather than later?

[@danielhutchinson6604]

If the owners of Gold are the only ones with money, what good is it? The majority of Humanity have no cash of any form after paying for food and housing. Capitalism as a social structure seems to have exceeded it's limitations. The ability to pay for the Debt that Usury demands, is beyond the ability of consumers to purchase.

[@jamesmedina2062]

@@danielhutchinson6604no no no you missed the ideas. First of all anybody can acquire gold and money backed by gold will have and maintain its value. Today fiat currency is worth less everyday so the working class stay stuck in lack of wealth.

[@danielhutchinson6604]

@@jamesmedina2062 Those who have lots of Disposable Income select the Names that appear on a Ballot. That determines who gets represented by the government. The change will only come when the potential to purchase the Government is gone. So when People drop the use of Capital, the Capitalists become "Equal".....

[@Mitch1929]

Central banks do not control interest rates. It's the commercial banks that are in control of them

[@Chuck68ify]

Print or default, pick your poison! Other Civilizations have printed/coined themselves away.

[@Gabby-bot]

G'day, greetings from Norway sir. I think Jay Taylor introduced us some twenty-five to thirty years ago. I only hold three dollars. One two dollar bill, and one silver certificate. Had we invested since then, it would have been fizzical. (Hat tip to Walt Kelly).

[@johngordon880]

You don't even need block chain or a new digital international Gold token. Each country peggs too Gold/ Silver accordingly and away you go. Its that simple

[@rap3208]

Yeah, people thinks the gold standard is a new thing but it was what was used even before there were computers.

[@philaxx8888]

ALISTAIR...YOU SHOULD SAY [ THANKING YOU FOR INVITING ME]

[@AndrewCooke-dl2dh]

When did that over the top annoying unnecessary politeness start .... Thank you for inviting me ...thank you ,that's a very good question ...irritating and annoying .

[@EatMyOats]

Texas cleared to join BRICS 😮. Legal & Public support look positive. 😊 Will Oklahoma, Arizona & New Mexico follow?

[@kiloyardstare]

I'm pretty sure the states aren't allowed to sign international treaties.

[@slavakotelnikov2440]

For Texas and the like exiting the US would be a good way to shrug off this 34 trillion debt 😊

[@stephanygates6491]

The loss of control doesn't negate the exertion of control while they have it! Conspiracies are rife in these times. Not theories, just recognition of what's happening.

[@stevehughes3984]

Listened to him many times,very good. Does he walk out of that sparse small room in to some palatial palace. I mean Shortly he doesn’t live like that.

[@FHIPrincePeter]

The way I think of it is as follows: Two metal detector fans set off on a trail in the English country side. The first a Woman manages to hear strong beeping sounds from her detector. Excitedly both them start digging up the earth. There they find the remains of an ancient Roman's grave. The see the skeleton and some fragments of clothes. and a small pouch. The open the pouch and see disintegrated fragments of paper, un known to them the paper originally had the inscription in latin "I promise to pay the bear the sum of ....". Happy with their find they continue their search and now the other Detector starts bleeping about 30 feet away from the first burial site. Once again they dig up the earth and find the remains of an old roman soldier, who has a pouch. Within the pouch are five Roman gold coins that equated to the same amount of the now faded " I promise to pay the bear of" the difference being the value of that gold has been retained throughout the centuries if not increased.

[@djghostrider2TV]

Yep exactly his point commencing at 45.00-45.15 the new currency CBDC central agency.

[@movado242]

The guest is well informed, but I don’t trust anyone who dismisses conspiracy theories offhand. These people are not as incompetent as we would be led to believe.

[@mathisnotforthefaintofheart]

I like how he explains it, yet we have had so many doomsday prophecies before, the future may just act a little different than we think it will.

[@kennethhulsebus7194]

The debt trap: debt on the public side creates wealth on the private side, and that is the trap.

[@pdxeddie1111]

umm 2.5 and .5 times is more volatile than you think if comparing commodity to commodity but this is economic instability where ones are chasing from one safe spot to another and hoping they don't go broke in the pursuit but if it's banks that do it chances are the FED will paper their losses over and why we are in this predicament the banks have become gambling addicts.

[@Texas_Uncut]

Could you imagine in the next couple years Texas would apply for the BRICS nation?

[@marialangley5528]

Imagine that.

[@chrisbytwerk3712]

Great idea!! Alot of the united states should do that. Let the federal government wallow in their own destruction.

[@michaellamont2605]

Texen token is doing well

[@michaellamont2605]

Let's hope HEX and Pulse Chain do better than BTC and ETH

[@Teney1994]

I do dislike the US government politics, but I believe that BRICS for Texas instead of the US would be horrible.

[@mojoman327]

The debt will be zeroed out. Just watch what they do, not what they say.

[@seanmoran2743]

Digital currency reset

[@ednichol7419]

Two more items. SOFR etc require Cash Now. The economy is not smooth. The policy makers use averages but the real world is individuals and individual businesses.

[@18cutleryco]

Alasdair needs to learn more about blockchain and Bitcoin. I’d love to know who could be a neutral repository for gold! BTC is digital and decentralized, it’s a no brainer.

[@Gooseo2000]

Any software can be cracked.....the chinese are leading the way in quantum computing

[@annurraudhah]

When these changes happened, what happened to the stock market?

[@manflynil9751]

The "vault storage business" is not money in my hand, is it?

[@joelferguson8714]

I'm predicting like movie "Escape from NY" is what it will be like in a short while.

[@Gooseo2000]

Not possible.....theres no more world trade center

[@EatMyOats]

Turkey 2023 top 2 gold import 319.1 tons. Huge Silver surge 1113.6 tons, over 300% previous 12 years.

[@buy.to.let.britain]

Bankers need to behave in a civilised and responsible matter, or suffer the consequences. *after the collapse i mean...

[@Tilor-vp6lm]

But they won't 😅

[@rogerburn5132]

This happen only in China in the West there is No penalty if any Banker Bankrupt any. BANK 😂

[@Tilor-vp6lm]

@@rogerburn5132 right..

[@bubblewrap4793]

How in the world does any country have enough gold to back their global transactions?

[@albacan]

Every economist will tell you Keynes is to blame. Debt not value creation and good use of resources has fuelled economies and the largesse of the past century

[@jtcouch]

So, what's the solution Mr. Macleod?

[@TeeTee-zm2re]

That's why I listen but I hear no solution except buy gold

[@simemsayss4395]

Government isn't solution. That means less Government and back to the natural order. Gold money out of the control of Government, banks that run like all other businesses and more appreciation towards the people of real value, no more victim hierarchy.

[@mushihimesarna728]

​@@simemsayss4395the real free system is absolute monarchy. God, Nation and Family. Anarchy, capitalism and socialism are materialistic and internationalist.

[@galenhaugh3158]

Just declare bankruptcy. Reject the FRN. Declare eminent domain.

[@juson4267]

This seems like gold marketing. Gold does not grow as much as other commodities and stocks.

[@frankblangeard8865]

Keep in mind that none of this investment advice is actually investment advice.

[@Oliveir51]

Is a symptom of excess capitalism failure

[@annaweiers2947]

Storage, if you don’t hold it, you don’t own it. Worthless pieces of paper make poor soup!

[@brianrichards7006]

Gold is not money. You cannot use it to pay your federal taxes, or buy groceries. Gold, like bitcoin has to be converted to a local fiat currency in order to spend your gold. When JP Morgan made his famous statement, gold was used as money. Regardless, one should own some gold in, coin form, privately stored.

[@WhatWeCallDollarsArentMoney]

Gold is not currency But it is always money

[@rumourhats]

It's a commodity. You have to change it into FIAT. But surely, 1oz Gold will increase the amount of FIAT it can change, if FIAT continues to depreciate. Bitcoin is like playing russian roulette.

[@janenefinneran-wj2iw]

Smh

[@jackgoldman1]

You are wrong. Gold is lawful money. You can use it but the face value is intentionally wrong marking one ounce of gold at $50 per ounce. This is intentional. But you are wrong. You can pay your taxes and buy groceries with gold ounces at $50 per ounce but worth $2,000 in fake Fed debt notes which are NOT money. Gold and silver eagles are the only legal lawful money we have.

[@horacioocean4741]

It says right on the dollar bill it is a "note" which is debt. Debt is not money. I'm sure the government is appreciative of your allegiance though.

[@Nsx234]

Malignant Banks!!! GOTS!!!

[@troyjarvis4499]

Guys I ran for President unsuccessfully on the Gold Standard Switch In Ft Meyers we will have the first USA Gold Bank Not bars or coins Ground up Gold shavings

[@kiloyardstare]

Blockchain isn't rubbish - it's the technology that would allow the people using the gold-backed currency to see that the currency issuer isn't scamming them. The public ledger gives transparency and the private keys give security.

[@user-vt7ob9by1g]

Blockchain will be the most abused technology in the history of humanity. BC was developed by our occult central controllers, as a critical component of the final. enslavement of us all. The fiat Ponzi scheme set up in 1944/bretton woods, is over, we are being transitioned to a CBDC/universal income and social credit trap, that will be founded on centralised cryptocurrencies, and the unified ledger of tokenised absolutely everything. The US$ world reserve/petro-dollar system has already been broken, BRICS was set up to facilitate this, the next steps will involve the breakdown of the existing central banking system/markets to crash, and coming war/combined with the damage caused by the planned recalibration of world economy via covid psyop. Collapse of the markets/US banks, due to bad commercial loans/and more, will force a frightened population desperate for their pensions and livelihoods, to accept CBDC's/universal income. In order to receive cryptocurrency from the controlled governments, you will be compelled to have digital ID, which will be key to total removal of freedom of speech/control of access to the www and the path to our final absolute enslavement. Once they get everybody onto DID, the trap will be sprung. In future, access to your cryptocurrency will be depend on compliance with government policy and policies like carbon credit allowances to combat fake climate change. This will give our controllers total control over be critical for our evil controllers to lock humanity down and prevent us from discovering the masonic lie-world, that we were all born/registered into. its not over yet.

[@rap3208]

He probably means the cryptocurrencies like bitcoin, etc.

[@WeekendsOutsideFL]

They always talk about Gold but they never talk about silver. What about Platinum? What about Titanium? Should I hoard nickels? Oh. I already hoard nickels. Did you know Andy Warhol’s nephew got in trouble for stealing Nickel Briquets?

[@kevinyaucheekin1319]

Critical war materials like Tungsten, Molybdenum, Neodymium, Copper, Maganese, Beryllium, Diamorphine, Plasma, etc.

[@JamesBond-vg6wz]

Doomsday clock now just 90 seconds to midnight..NO WAY BACK..its just a matter of time..🙏🌍

[@vijjreddy]

OH YES, EVERYONE DOES THEIR OWN INVESTIGATION, WHICH IS WHY NO ONE EVER INVESTS IN COMMODITIES, AT LEAST NOT IN ANY BIG NUMBERS...... GOLD IS NOT MONEY, EVEN DOLLAR IS NOT MONEY.. DOLLAR IS JUST A TOOL OF EXCHANGE IN ANY TRANSACTION.. IT IS DEFINITELY NOT ANY STORE OF WEALTH.. FOR THAT ONE NEEDS TO LOOK AT OTHER ASSETS... LAND, REAL ESTATE, STOCKS OF BLUE CHIP COMPANIES... PLUS INVESTING IS A DYNAMIC GAME.. WELL, WE HAVE SEEN COUNTRIES WHO PUT ITS TRUST IN GOLD (LIKE VENEZUELA) OR IN BITCOIN (LIKE EL SALVADOR).. AND NONE OF THOSE ESCAPED REGRETTING...

[@ConStins70]

Skip the imagination of middleman money and need of it. Money is only worth what we agree on. Take out money, end of Uber wealthy hoarders and debt. Replace with local barter and trade, create community and relationships again. Need to step back and redo our ways of doings to a more organic life. Technology and money causes stagnation and decay.

[@1painter4hire]

inflation is a tax , that's the bottom line.

[@BillyBob-fh5he]

These people have been saying the same things for over a decade!

[@Nilshelppi]

Even US pennies just copper plated scrap metal .

[@deguldenmiddenweg895]

The problem for all countries is the domination of the Keynesian economists. They have unsufficient knowledge of money systems. They are money cranks.

[@ltcajh]

Money Metals is too expensive.

[@ronwiebe4816]

Pretty hard to listen to the same stories now for 10-20 years - Gold and silver hold their value but new currencies like BTC are likley to replace them (to some degree)

[@rap3208]

Nah, Bitcoin or the idea of it is justtolearted right now because it is a non factor. If it ever becomes a factor, governments will ban it just like China did. What government will allow something they can't control? BTC is just a commodity, not a currency.

[@juson4267]

Buy a piece of land. Live there and grow food.

[@alexandergabrovsky8405]

I would not say that China is just an observer. China and Russia are working together.

[@ronsmyth2005]

I can buy digital, gold backed Chinese yuan already.

[@richardhubbard2151]

Gold is boring. Cant move it, cant store it (without security).

[@TonyL-gw4qx]

Yep Peter Schiff left Gold Money because You and other board members decided to sell gold and buy Commercial Real Estate Properties!!!! I’m hoping you get taught a valuable lesson about what is coming!!!!!!

[@blackcreekorganicfarm296]

America reminds me so much of Germany in the 1930s in so many ways

[@greatredchicken]

These guys were literally expecting the fucking apocalypse 😂 and that is the only way fiat will ever work. Since they failed to destroy the world, what the fuck can they even do?

[@Gooseo2000]

Who are the Britains?!?!?

[@richardhubbard2151]

This guy and his block chain theory trying to push back to gold backed paper! Lmao will old fi ever learn.

[@John-ou4rm]

I know you're all 'gold bugs'. But gold most certainly isn't the only form of money, silver, copper etc all suffice as well. If you want currency backed by gold, you could have currency backed by land, and land provides a cashflow.

[@CommodityCulture]

This is a good point, the currency issued after the German hyperinflation was backed by land.

[@John-ou4rm]

@@CommodityCulture Adam Smith said land backed by bushels of wheat was more stable than gold. Although at the time large amounts of gold I believe were coming into circulation from the Americas.

[@dannygonzales7923]

RATES CAN GO TO THE MOON ITS DONT MATTER FOR EVERYONE IS DUMPING THE DOLLAR !!! NOW WHO IS GONNA SERVE THE RICH FOR A CBDC OR EVEN THE DOLLAR !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@uthoshantm]

The rest of the world is fed up with giving free goods and services to the US.

[@toddweavet7703]

We can but those who represent the people/government don't want too. More treason than representative.

[@acw7120]

An Orangutan would be better to vote for. More power. More fairness. More integrity. More intelligence. Shows traits NOT IN "politician's". ORANGE UTAN PARTY. No Monkey Business..

[@anthothiyahisrael422]

The beast will be partly weak and partly strong.“Two pounds of wheat for a day’s #wages, equals $36.00 for one loaf of bread or $72.00 for two loaves of #bread. which is equivalent to a gram of gold@$3,240 for a bushel at today price. When Gold hits $2400-3,200! Sundaylaw will be enforced by bio #microchip technology. #lionitetrust

[@opensky6580]

Gold is money - credit is not. And one hour rumbling without giving evidence

[@bogdanlevi]

Russian debt to GDP isn't around 20% because of sustainable spending policies etc. It's there because the central bank devalues the ruble, thus increasing ruble-denominated export prices of commodities and creating artificial budget surplus. (Severance tax on commodities is one of the most important sources of budget income) Spending is also high, and there are tons of needless subsidies, but they aren't inflation-adjusted quickly enough. And that's how the budget avoids a lot of deficit, even though it's often planned to be a deficit budget. This is only a sustainable practice if inflation is constantly high, and that's one of the reasons why BoR's target inflation rate is 4% rather than 2%.

[@CommodityCulture]

Very interesting comment.

[@danielhutchinson6604]

Currency Values will only be as strong as the Treasury can support. The appearance of the third quarter now assured us that "All is Well." The claimed Consumer Spending was strong, but failed to mention that debt was stronger. Credit card Defaults hit a new record. Between the Governemnt and Consumers the debt is over $50trillion. How sustainable is that? Banks do offer to finance any debt...............Right? The interest they loan you on the interest you need to pay already multiplies. Compound Interest is an interesting subject. Islamic rules prohibit the concept of Usury. So as the Moslem Nations look at BRICS and the concept of their goods as a commodity that is represented by a Trade Union like the BRICS Group, the idea of Interest in their group seems to offer some degree of hope to an indebted Planet. The total Debt Bill is estimated to be over $200 trillion. Who can finance that debt? What side do you find yourself on in this debate?

[@esteban8592]

Fair points. Even so that does not present any serious impediment to implement settlement gold standard

[@danielhutchinson6604]

@@esteban8592 One reason Merchants do not issue Catalogs, is the Price changes so fast the printing can never stop. The internet reveals that cost cutting move quite well. Russia suggested a Gold Standard Currency well over 20 years ago. People laughed at Putin when He delivered that concept. China went int Tibet to get Gold. India has been Buying. Brazil has been holding more then they were selling. South Africa well hey are full of it. So the BRICS Guys appear to have accepted it, in some form. The 40+ nations they represent appear to own, around 70% of available resources. The chances that the exchange of material seems to desire a stable form of Currency? A Gold Standard projected an Aura of stability for decades. Does that imply the future may not be as gloomy as some may suggest....?

[@bogdanlevi]

@@esteban8592 I would say that the idea of a settlement gold standard is treated in Russia similarly to how MMT is treated in the US. It's seriously discussed in academia and among some policymakers, but it's not quite an official policy yet. It's very possible at some point in the future.

[@wayneanderson8034]

When you owe the bank $100,000 you cannot pay, that's your problem. When you owe the bank 100 million you cannot pay, that's the Bank's problem. The value of Federal Reserve notes are not my problem, not your problem, its the Federal government's problem. We can stop using USD tomorrow, form a new currency, Patriot Ducats or Liberty Denari, & never pay anyone a USD debt. Its their problem now. Because a day's labor is still worth a day's labor in ducats or denari, our life goes on. But the government cannot withstand such change, because now they can no longer borrow. No one will lend them any money. But 40% of their budget is borrowed money. How do they carry on? They dont, which is why government needs you to believe that the federal debt is your problem & yours to pay. Argentina has defaulted many times. Is there still an Argentina? Are people living working thriving in Argentina? Yes, life goes on. There are consequences for debt default, but its not the End. It is only the End for government as we know it. And that is One thing government & its employees can never accept, the End of their Utility. So they need you to believe the federal debt in Federal Reserve notes is your problem.

[@user-dy6xp7xi5p]

This is BS. Any monetarily sovereign country, like the U.S., can easily pay all debts by creating any money that's needed. And adding money into circulation improves the economy, because people then have more spending money.

[@CommodityCulture]

I have never seen a comment from such a drone who has completely drank the kool aid of his overlords.

[@susettesantiago5509]

The currency is not the dollar….its the American…..the American lifestyle…..the American people living abroad…..working abroad…..serving abroad….america is not a dollar or the dollar or about dollar…..it’s the actual country…..the symbol….and that is a currency…..I wonder if you can print that….lets try

[@freedomwatch3991]

Disagree on blockchain. It is the future. Young people don’t care about gold. And how would you ensure that this central authority has the gold it actually claims it has.

[@MENSA.lady2]

Who is this mythical "WE" who can't escape. I already have escaped. I owe nothing to anybody.

[@dragon1711ytb]

Don't be fooled, it is over for the Dollar (overprinted toilet paper). Not fiat money.

[@slovenasimkaras_ztelegrame3287]

😂 love how you fool everyone in to buying gold as if its money, but it's NOT MONEY WILL NEVER BE MONEY 😮😂 fools go buy gold.

[@TheSturdyman]

How is it possible talking about invest money around war and trade

[@CommodityCulture]

Wars are going to happen regardless, to say it's wrong to base investment decisions around wars makes so sense to me, especially when we're talking commodities. It's just one piece of the overall puzzle, they have to be considered.

[@fullblastman]

Funny how yesterday's conspiracy theories turn out to be tomorrow's headlines!

[@krcalder]

Fiat monetary systems have never stood the test of time. Where does money get its value? Lose track of that and it’s downhill all the way, just look at Weimar Germany and Zimbabwe. Neoliberals are very confused about wealth and money. Money comes out of nothing; it gets its value from the real wealth in the economy, which lies in its goods and services. The neoliberal ideology is good at the higher levels, but falls over on the fundamentals. Houston, we have a problem. The fiat monetary systems were going to go haywire. How did global policymakers get taken in by this nonsense? The high level stuff sounded good, and they never realised it had no foundations in economic reality. Money comes out of nothing, and it gets its value from the real wealth in the economy, which lies in its goods and services. The limited supply of gold means it’s a good store of value. The limited supply of gold means it tends to be deflationary and hold back growth. The economy can grow faster with fiat currencies, where the supply can be readily increased in line with economic growth. We need gold as a safe haven because policymakers keep losing track of where fiat money gets its value. The neoliberals never stood a chance.

[@CommodityCulture]

Agreed that we need to return to gold in one form or another.

[@7425park]

Russia should go in gold standard. They have the reserves and the slaves to market it.

[@JohnWilliams-wz9vk]

Its not even..Fiat..its just..screen shots