Bitcoin & Now Gold Are Signalling That Our Society Is On Life Support
I've noticed something about myself. I've met North Korea's latest H-bomb test, something that deserves concern and discussion, with near indifference. Why is that? Could it be that it's nothing new? Maybe it's a boy who cried wolf scenario. Maybe it's that social inequity now seems like a much bigger problem that war on the peninsula; something that was mentioned by David Robertson on the the latest X22 Report Spotlight interview.
One thing that hasn't gone unnoticed to those "in the community" is gold's recent rise to breach and hold above 1,300USD. I yawned at the breach, having seen this kind of thing before. I'd expected it to be smacked down again by the criminal cabal, but I was wrong. At the time of writing, it's at $1,334.50 US following both the shocking jobs report out of the US last week (156,000 new jobs vs. 180,000 expected and a sneaky downward revision to July) and the NK tensions yesterday. It jumped $15 at the open this morning on that alone. Incedentally, as a true 24/7 market, bitcoin is a far better market judge as it allows for immediate feedback.
A really interesting article posted today (not written by me) speaks to the context of a degrading social cohesion that gold may finally be reflecting. I encourage you to read the article as it goes into more detail but essentially it helps to explain why we're all feeling that life is becoming more and more difficult despite working harder and harder for fiat pay. Have you noticed that at all? Have you noticed the intense focus on statues and peripheral issues in the US which is now being adopted in Australia; the vandalisation of Captain Cook's statue being one example.
I'll borrow a chart from the article sourced from the US Census Bureau along with an except that makes this point articulately
It’s probably ‘coincidence’ but remember when looking at the first chart that we left the discipline of the gold standard in 1973… Since then governments could create fiat money out of thin air through debt…You can see it starts to really diverge from around 1980 and the graph below compares 1980 wealth growth (as a percentage) across the percentile range of income. It is reasonably weighted with lower incomes gaining more as a percentage than the top earners (remembering a higher percentage of a smaller number is still a small number). You then look at 2014 where the vast majority of growth is in that very top 1%. These are the people who hold the majority of the financial assets and jobs that have been inflated by the expansion of debt. The GFC saw ‘mums and dads’ try to enjoy this through getting subprime loans, growing house values, and redrawing off the same subprime loans. It didn’t end too well for them but Wall Street seemed to come out just fine thanks very much….
In my own career, the last three jobs I've had have all come with a lower remuneration than the last. That's just a dollar value comparison without the compounding factor of inflation. This is hence a very identifiable phenomenon.
I feel that we're seeing growing civil unrest. The migrant crisis is now old news but the increasing public uprising in the States and the income inequality that is now pervasive, I think, speaks to a fundamental deterioration of the West. The article I referenced above does a great example of concluding so I'll finish with that. Thanks so much for your readership.
Please don’t underestimate the importance of this phenomenon. Credit cycles end badly not just because the debt ends up too burdensome for the weak underlying economy, but the social divide and ensuing revolt make it unsustainable too. Brexit, Trump, etc are but tiny examples of what happens when the 90% voice their dismay. Suppressing rates for longer and throwing more debt to fix it, as will be the result of Friday night’s jobs report, will only make it worse… ironically for the very reason the report was so bad. The gold price can see what’s coming….
I too am have been mostly indifferent to all the stories or North Korea's latest H-bomb tests, however for me it's more about cynicism than anything else.
I believe that the "deep state" is not above creating a new boogie-man for the world to worry about while the economy rapidly collapses. North Korea somehow goes from a stone-age society to a nuclear threat in the matter of a few years? Sounds like a put-up job to me.
I predict that NK will actually hit something with it's missile, probably Japan or some little island nation, maybe even Hawaii. That will lead to some kind of global conflagration, thus excusing the collapse of the Dollar and the institution of some new financial scheme (most likely a Crypto based currency)
Just my two cents.
What you've written makes a lot of sense to me @sirstacksalot. There's been a lot of talk and no action... perfect ingredients if the goal is to promote fear and distraction. Thanks for your input!
It's funny, but I've been feeling very, unusually blaise for the past couple of weeks. I think it's from a combination of factors, but mostly because I'm working more and more and more. Funny thing is - I do not "have to" go to work and earn money. My "basic needs" are being met just fine, so far. It's just that anything "extra" is harder and harder to come by.
I feel that the worst thing of all is this: I'm not even feeling optimistic about SteemIt, cryptos, stacking silver, or anything like that any more. Maybe it's just a phase. Maybe it's all of the heat this summer - and the smoke from all of the fires. I'm just more tired. Probably, it's a combination of many things.
As far as "social unrest" goes - I think it's more about over-hyped lamestream media propaganda than it is about anything that's real. I live in a more rural area - and everything continues on, much as it always has. Sure, America has been "going down the drain" for that past 50 years - but that's just the same old story.
If anything, seeing the sense of community due to the disaster from the hurricaine down in Texas is a hopeful sign. We are not divided by race - we are united by the fact that we are all human beings. Skin color is just that - skin color. Sure, everyone notices it - no matter what skin color you are. But, being white - I am totally disarmed by any black person who smiles and is acting in a positive way, so that's what I do if I ever feel any "racial tension." I'm sure it's different in larger groups of people, and in cities. But, racism and racial divide is not what the real problem is: the real problem is that too many people are allowing themselves to be distracted by these kinds of things - by the lamestream media. I quit paying them any attention years ago - and so have many Americans. Their message and influence is quickly diminishing.
Anyhow, I don't know what I'm trying to say here. I'm am glad that I have some physical silver and some steem tokens. It won't hurt me when the economy does go to $#!t - but maybe it already has, and, it happened to us all so slowly that it's been hard for us to notice it. So, maybe this IS the "depression???"
as they say, both are now used as gauges as to the health of economies and beware in the future both maybe also used to over throw governments...
i hope usa hits another great depression
It'll mean a lot of suffering largely for the mistakes of others.
Buy Cryptos, hedge with GLD/SLV.
Wrong! GLD and SLV are nothing more than paper. There's probably 10 claims on every Oz of metals they claim to have in store. Cryptos have yet to prove they can stand up to any real resistance.
Physical metal is the only option. It's the only investment without ANY counter-party risk.
Oh..i meant physical. Didnt know gld and slv were paper! Totally agree. Physical!
That`s perfect
Thank you @mahmoudalrefaie
Clearly we are seeing debt being issued as a means of control with the ensuing defaults the biggest banks pick up all the assets in a rigged game of monopoly.
I still see a low level of awakening on the reality of what you describe @theflorescents. I think people know something is wrong but the anger is directed to left vs right rather than humanity vs the banksters
wow
We are heading towards another financial crisis! I will be investing more in crypto until things settle down.
Don't forget gold and silver too @fury123!
Gold is money, everything alse is credit.(jp morgan) this is the statement that I follow and you are right we should also be buying gold!
They historically happen every 7-12 years, so as long as you wait long enough you are correct.
Will the next one be worse than 2008? Probably not.
This post has received a 0.39 % upvote from @drotto thanks to: @banjo.