I don't trust Bitcoin and crypto though. Eventually it will be hackable and the Government will be able to control it. Better hedge with Gold, Silver, Plantium and Palladium which are tangible and somewhat outside Government's control. Throw in cigarettes and whiskey as well for a hedge.
Bitcoin is only allowed to exist until it threatens fiat currency and the banking cartel. Meantime, as Catherine Austin Fitts puts it, crypto currencies are being allowed to work out the bugs of pending CBDCs. They can regulate crypto (already there are efforts to do so) anytime they want.
And still, around 10% of hashpower (bitcoin mining) is done in China. You can technically ban it, but you cannot practically ban it. People can use and mine bitcoin anyways.
Practicality will take a punch when you literally have to carry around a USB. Does the BC infrastructure plan include utility lines? How about isps
O and as an aside I'd rather not get caught up in still mining in China as theres plenty of people who could use your organs amongst party leadership I imagine.
There are already bitcoin nodes running on satellites. As long as there is an internet connection anywhere on earth, there will be a bitcoin network. Also, how do you intend to use VISA without internet? You also don‘t need a USB to carry your bitcoin, just memorize your seed phrase. It‘s truly antifragile.
So it seems. Trick may well be to have denominations (sizes) small enough for daily transactions. A 1-ounce gold coin will be difficult to spend, I think (unless you're buying something really expensive). Silver coins make more sense from that perspective. Time will tell. Thanks.
Start with a bag of silver 10cent dimes. Then quarters, halves and full dollar silver coins. Then go after 1/10 ounce gold, 1/4 ounce, 1/2 ounce and full ounce. The smaller denominations will be used for smaller purchases. Currently you can buy about 1 1/2 gallon of gas for .25 cent in silver if you cash it for F.R.A.U.D. "notes" (Federal Reserve Accounting Unit Devices. Read this: https://courageouslion380.substack.com/p/blood-running-in-the-streets-mobs
Indeed, there would be a loss of efficiency when it comes to small transactions with a coin or round being converted back to fiat from time to time to cover expenses but during raging inflations people will want to place most of their liquid assets where they are protected. Such has always been the case. Human nature doesn't change.
But you are aware that bitcoin is based on RSA and AES256 encryption, right? Just like your online banking, VISA, even the CIA‘s systems.
If this kind of encryption gets cracked, everything falls apart. Doesn‘t really make sense worry about bitcoin being hackable and not being worried about online banking.
Also, gold is much easier to control by government because they own the vast majority of supply, and it‘s easier to confiscate than bitcoin.
I've heard it best to have your bitcoin in an offline wallet. I've just started to use Faraday bags as well, 1. for privacy and 2. for protection of my data.
Bitcoin is a great idea and is a good thing right now, but I think the biggest vulnerability is the dependence on the network of server nodes that curate and synchronize the transactions, even if they are in various distributed political jurisdictions.
Couldn't they simply outlaw trade and investment in any digital money that isn't created and issued by a central bank?
They haven't done so yet because they are not yet ready to roll out central bank digital currencies. They are allowing digital currencies to exist so they can work out the bugs with CBDCs.
I don't know, but I suspect they could find a way. Wouldn't it be enough to dictate that it couldn't be used for transactions? I'm fishing, certainly, but I have absolutely no faith in the privacy of anything that uses the internet.
Every bitcoin created is by default no-KYC. The government does not know who is rewarded the bitcoins of the mining process. Only bitcoins that were purchased on a centralized exchange can be linked to individual identities. As long as you have a stack of bitcoins which you acquired outside of these central institutions, it's practically impossible for the government to know if you own bitcoin and how much.
The "crypto" in cryptocurrency stands for cryptography - bitcoin uses the same encryption which Wall Street banks or the CIA uses to secure their systems. It's not possible to hack bitcoin and compromise privacy with current computer technology - and if it were to become possible some day to hack this encryption, any device connected to the internet will be hackable, including the VISA network or your online banking.
Thank you for this. So, do the IRS regulations regarding crypto currency not apply to bitcoin? If they do, will the government not know about crypto transactions? If they don't isn't it possible (probable) that the Federal government will insert itself into such transactions? I'm not as much concerned about whether or not the government can or cannot know about or access crypto accounts, though that is a continuing concern about government in general (watch the new IRS agents go after hair dressers, lawn mowing services, barbers, etc.). But, if the government swoops in, could it not require bitcoin owners to divulge their access credentials? Also, of what value is bitcoin if owners cannot use it to buy things because of government regulations? You are right - anything is hackable.
No, Jordan, you have this wrong. I've followed you for a year, and will continue to do so. That said, your understanding of energy and resources is just WRONG. You say, "Energy should be abundant." Nope. Study Economics (Austrian or otherwise) and you learn that infinite growth on a finite planet is always possible. It's not. This error is the result of a mathematical simplification when designing economics. That's why Economists always seem to believe in perpetual growth on a finite planet. Also in the Tooth Fairy.
Jordan, I'm a physical scientist who understands Geophysics. Energy does not come from technology. Energy is harvested from existing stores and flows of energy. Technology increases the efficiency with which we can harvest energy but does NOT create more. Now our finite stocks of fossil fuels are depleted and, regardless of technology, we can't get more. We're in what's called an "energy-limited economy." Now, Jordan, most Economics will say, "that's impossible because it violates the laws of Economics". Nope. The Laws of Economics are based on Axioms, and some of those axioms are wrong.
Economists consistently make that error because Economics ASSUMES, in its axioms, that infinite growth on a finite planet is always possible. Assume something to be true in your axioms and your later work will always show it is true. Even when it's not.
Please don't go on an 'anti-Malthus rant', Jordan. Economists sometimes do that, because of the aforementioned axioms that seemed valid when they were made but are no longer valid. Many of your ideas are good ideas. On this one you are flat wrong.
"Economists consistently make that error because Economics ASSUMES, in its axioms, that infinite growth on a finite planet is always possible. Assume something to be true in your axioms and your later work will always show it is true. Even when it's not."
I don't think true economists think that, at all. Economics assumes scarcity is the rule. Thus, it does not believe in limitless growth in a finite world. It is a way of understanding the allocation of scarce resources for beneficial ends, based primarily on supply, demand and the price system. I don't think economists concern themselves with growth, infinite or otherwise.
To what "axioms" are you referring? And, how do these "axioms" convey a belief that infinite growth is possible? Please explain.
Because you make this fundamental error about what economists believe, I tend to not trust the rest of your post.
Correct, Johnny. We're not 'out' of fossil fuels and we never will be. Energy resources don't work that way. Johnny, your statements indicate a complete lack of understanding of this topic. For example, do you know precisely how much fossil energy is required for the complete life-cycle of a nuclear fission power plant? I do. Nuclear power plants produce ELECTRICITY. Bulldozers, cement factories, and uranium mines don't run on electricity. Your simplistic understanding of how energy resources work has led you to believe absurdities. The world doesn't work the way you think it works. Do a deep dive into the topic, learn a lot of Physical Science as it relates to energy resources, then see if you feel the same way. The process goes like this:
I'm not a scientist but I tend to side with Johnny truthseeker. Oil may or may not be finite but human ingenuity is definitely not finite.
Canada had a federal election in 2019. There was an enormous amount of energy (pun intended) put into keeping the climate hysteria going strong and thus cancelling Canadian oil and gas projects. The snow job that was done still couldn't quite hide the fact that there were competing interests that wanted Canadian oil/gas to stay in the ground rather than hit the market. For example, certain rich people heavily invested in railway stock didn't like pipelines competing for their business, more oil on the market meant lower prices so Canadian activist groups got lots of funding from those same rich people.
If finite oil truly was a threat to our infinite growth, shouldn't there be a herculean effort put forth to find good, viable alternatives with nuclear being the first stepping stone? That should be the worlds #1 priority right now. What I see is an herculean effort put forth to keep us ordinary folks away from energy use. Any kind of energy use.
To Bruce: the population will not grow infinitely. There are very credible people who've studied the subject, Jordan Peterson being one of them and state that we may get to 9 billion but it's downhill after that. These same people see the biggest problem not in an expanding global population but in falling birthrates (even pre covid) and a shrinking global population. They also state and it should be very obvious that the key to reducing the number of children a family has is prosperity, i.e., affluent people have less children than very poor people.
Yes and we reliably consume with increased efficiency… surely that cannot go onto infinity but so far so good. In middle school one of my teachers declared we were all going to starve if the population kept growing at then pace … ha ha no sign of it although I can see regional drought is a wildcard but all hale desalination!
Please, BF. Please don't bring Dunning-Krueger into this discussion. Would you like to learn the chemistry via which one can determine the precise mix of dead biotic matter that went into a particular basin of fossil fuels? It's not a difficult process although it does involve some advanced spectroscopy.
I reserve judgement on whether there is such a thing as 'abiotic oil' that seeps from a 'creamy nougat' layer of the earth. Current understanding suggests there is not, but current understanding is often wrong. I'm open to the idea. That said, please point to an example of any oil or gas field that has 'filled back up' in any measurable way since our species started burning the stuff. Whether or not 'abiotic oil' is a thing doesn't matter if it doesn't alter our energy situation in any measurable way.
'Abiotic oil' is a rabbit hole that serves no purpose. While there might be something to it (I doubt it but admit I can't know) it doesn't change anything. The instant there's any evidence that any oil field is refilling at a measurable rate I'll be all ears. I'm familiar with the Russian scientific studies on this topic and have read pretty much all of them. Scientists should keep on studying it, by all means. Just don't expect anything to come of it.
Do you know which country started with the planet's largest original endowment of oil? Hint: it's not Saudi Arabia. This country started with the most but now only has about 15% of its original endowment still available. This country burned 85% of its starting endowment, which it used to put itself at the top of the global geopolitical hierarchy. This country is the USA.
I may not be correct on my details here, but I have a friend who sells large oil contracts. He told me that we have enough oil in the Dakotas alone (Bakken formation) to supply all our domestic oil needs for 400 years. If we have really used 85% and only have 15% left, that means we have about what...50 years before it's all over?
Bring back silver coinage. A one-ounce coin is currently worth about 20 bucks. It’s practical for everyday use and can’t be inflated away by mere keystrokes on a computer.
Um, I don't think Target or Kroger will accept them for their true value. And the face value for a silver eagle is just $1, right. So why would I part for my silver eagle for 1 greenback's worth of food/goods? Yep, I guess I could find an independent grocer or farmer who might accept them for their true value but that's tough to find.
What else will you use when presenting Federal Reserve Notes gets you arrested and sent to a FEMA camp? With what is happening in the economy and country, those who will accept the gold and silver that the Constitution says is legal tender will stay in business.
This is a good interview. Among other things discussed, Catherine Fitts talks about the difference between a financial system that destroys (the one we currently have0 and a different system that enriches and improves all of us. Sadly, TPTB would never allow that system to exist because it threatens their stranglehold on everything. If we all were rich enough to be kings, there would be no need for them, the kings we now have.
Contrived scarcity, whether as a function of lunatic climate policy or continuing dysfunction with supply chains, and profligate spending are the inevitable consequence of lackluster, unintelligent leadership. Whether the underlying policies are enacted with actual malice, this amounts to malfeasance and is a grievous harm to those most in need.
Great reporting, Jordan, and let us hope that, though exercising our franchise rights collectively in November, we can introduce accountability for the cretins inflicting this needless economic damage to our Country and countrymen.
Have noticed mainstream outlets like Barrons fluffing ETH lately, my theory is that is the real spook money. The Cabal knows this system is collapsing so they need a digital money they can control, ETH may be the precursor to CBDC. BTC will hum along and collect adopters as people do the hard work to actually understand its properties and how it works. Everyone else will get trapped into the digital coupon hell / social credit score system of the CBDC.
Thank you! I tell people this all the time. Things should be basically free at this point, but they've stolen the margins. The efficiencies created in the last 100 years, and especially the last 25 years are unprecedented. Yet things cost 5,10 or 20x or more what they did a century ago. 25 years ago I worked at a hotel while in college. Every guest who had ever been there had a paper registration card. It was tucked into one of many many file cabinets. At night we tallied paper receipts and matched them to the accounting books, category by category. It took some 6 hours to audit and close the previous day's business. Then we got computers. Those big file cabinets went away along with all the paper records. Daily books were a click away as we're reports and tallies. The close of day operations were reduced to printing some reports and making sure the numbers matched. There were never math errors. Later this process was automated to the point of clicking a single button. As you sat in a room with only one $600 computer. Exhaustive recordkeeping tasks were eliminated completely. The front desk area shru k considerably without the need for miles of filing cabinets. Any idiot capable of reading at a 4th grade level could do all the daily accounting tasks forlesser wages. A model of efficiency! And what was the reward? Today it costs 4x what it cost to stay there than it did when I worked there. WTF? The entire world is one big glaring example of this total disconnect. All these efficiency gains led to productivity gains, profitability gains, bigger margins, and larger volumes. All of which should have driven the cost of things down significantly. Yet the exact polar opposite has occurred. Because they stopped?e and squandered all the productivity gains. But more importantly because some had the access, authority and opportunity to do so that you did not have. As you toil away in their rigged system thinking you'll ever get ahead, as your money and it's value are stolen almost as fast as you can make it. We could get off this train at any time if we had the will but sadly most are too busy chasing the rising cost of things to stop and see that it's all just theft
I have long invested in metal , I'm a mechanic, machinist, welder, and have long held "capital" in the form of steel, aluminum, copper, all the metals our Nations, our societies are built out of. I began investing in silver in the early sixties, one of my "favorite metals" because it's so easy to work, to melt, purify, cast, forge, one of the perennial useful metals. Gold remains money simply because it can't be forged, anyone with the knowledge, can easily determine it's weight, purity, and thus its "portable value", simply being the most affordable, portable metal. The bottom line that most seem to miss, is gold, silver, copper, iron, only have value while others continue to plant and harvest, to provide food that all, including metal workers, must have to live. Gold and silver, copper, aluminum, iron, hold value because we make tools of them, tools that improve our harvest, planting, our production of bread. If we can't get those things, we won't need the metals. Crypto is already broken, because it's not accessible except with electrical power. We forged this world because we have full control over fire, we will never have full control over "electrical power", it will always be in the hands of the elite. No house could ever stand, without a sound foundation. Gold and silver remain the foundation of civilization.
You have a very good grasp on why gold, especially, and silver were chosen by the market as monetary commodities. One of the main reasons is their relative scarcity, and another reason is their resistance to being counterfeited and "multiplied" beyond bounds.
For me, sound money, and the lack thereof around the world, and especially in the U.S., is the main reason why I distrust all governments. The fraud either starts there or is very close to the beginning of the fraud. Because governments debase sound money, everything that flows from that is also corrupt.
Because they lie about money, everything else they say is a lie.
Anything that goes away when you unplug the computer is not real. Period. Better get into tangible assets. Good land, real estate and essentials are the real deal. Gold for wealth preservation and silver for commerce. Guns, ammo, tools, food stocks and the ability to live for long periods off the grid will be required if you want to stay out of the coming shit storm. Think for yourself. Can you lock the front gate and sit tight for a month? a year? better figure it out. Pray, plan, prepare and RESIST.
No. The natural state of market forces with no other control mechanism is chaos. Any spontaneous order deriving will be an actor having grown large enough to start buying up other actors, eventually leading to greater and greater parts of the entire market - from raw material to commodity or good on the store shelf - coming under unilateral monopolised control, effectively creating a monopoly.
I.e. order.
In theory, and as recent evidence seems to bear out (concerning large corporations the only purpose of which is ownership of other corporations.such as Blackrock ring), this development will lead to planned economy and a sort of communism arrived at via capitalism. (Which by the way is how Das Kapital described communism coming into being as the dominant financial system would happen.)
The state will be reduced to the enforcer arm of the corporation, and eventually all notion of them being separate entities will be gone - witness the collusion of the Biden White House and social media for a concrete example, or the overlap of Pfizer employees and FDA/CDC staff.
You don't get to travel in style and comfort by giving the horses loose reins, or losing the reins, nor do you get to travel anywhere fast by insisting on leading the horses.
I disagree that market forces, without any other control, are chaotic. It may look like chaos, but it is not. The market, if it is free and open, is subject to all kinds of regulation, without any outside control.
All you need is to allow the market to work.
The agent that destroys this arrangement is government. It interferes precisely to give some actors privileges that other actors do not get. Governments allow some actors to get around competition. Certain actors get to write regulations that favor themselves and hurt their competitors.
"Regulation" is the last thing we need for a healthy economy.
"controlled and manipulated by unelected, unaccountable, unsanctioned masters of the universe." --
Today, the so-called "elected" and "accountable" also remain completely unaccountable and unsanctioned while rabidly committing the crimes.
You state that you are an investigative journalist. I have been unable, for several years, to find an honest and true investigative journalist or any genuine "gov. accountability" establishment, although I was offering the actual evidence of the endless crime, being committed under the color of law (by the so-called "accountable" and "elected.")
I have some comments, Jordan. Paid subscriber for about a year now.
"there is absolutely no organic trigger for the inflation you’re witnessing today"
Well, we've been printing our way to prosperity since Nixon took us off the gold window 1972. But I'd say printing $7Tn to pay people to not work during the plandemic is about as an organic trigger as one can find. But even before that, financing Obama and Trump's deficit spending was some serious organic inflation. We'd been able to offshore some/most of that because of the petrodollar, but CovidBucks was that spending on steroids.
"while the 99.9% become the ultimate fiat bag holder suckers"
I mean, ultimately, sure, but DXY is up 18.43% YOY. Dollar holders have done pretty well, especially compared to the Euro.
"But now we are witnessing cascading failures"
Europe is committing suicide, but that failure is not headed for Russia, the US, China or the rest of the world. I mean the US is gonna pay, but the Fed is raising rates and it's been fairly painless thus far (housing will feel the most pain going forward, but the jan-feb 2022 bubble needed popping anyways).
"If their system breaks, all bets are off."
Who's system? The US' is being fortified by the Fed raising rates. Europe is stuck between the proverbial rock and the hard place.
"There’s a lot of both warranted and unwarranted critiques on governments’ potential imposition of a CBDC..."
The Fed opposes this. The WEF is for this. I know it seems crazy, but we may need to re-check our priors. Why is the FED doing the opposite of what Davos/WEF/ECB/EU/LaGarde wants?
"..is that the U.S. Dollar, the Euro, etc. is already a tool for control and manipulation."
This tool for control and manipulation is currently EFFING the EU in the A if you know what I mean (maybe even worse than Putin cutting off Nordstream!). The Fed is sucking up all the world's extra liquidity, yet the stock market, though lower, hasn't cratered. Why?
"The CBDC only sharpens the power of dollar to coerce, manipulate, and control."
Neil Kashkari tweeted recently that the Fed is not interested in CBDC. Singapore's national bank did the same, too. The only ones who want this are the Davos/WEF/ECB crowd, and they are currently bent over a table now by Jerome Powell.
I too think BTC is a tool for freedom, and the ruling reason for owning it is still sound. But keeping cash is a good idea, too. (If cash were invented today, do you think they would let us use it?) I don't know what the future holds, we are in uncharted territory, esp w/r/t the Fed/ECB split. Therefore, at a high level, I'd be long USD/oil; short the Euro and wait to see how far AU, AG and BTC fall before getting involved (or DCA your way down).
Tl;dr: Our priors may not mean much when their is a split btwn elite bankers like there is currently between the Fed and the ECB/Davos/WEF/EU crowd.
I think by "organic", Jordan meant "natural", not artificial. The $7Tn in spending certainly did cause prices to rise, but is not "organic" or fundamental. That is artificial, i.e., not natural.
I think of the equities markets the same way. There is no fundamental, or organic, reason why the Dow is at ~32,000. It is valued at such levels because the unit of account has been depreciated. Reckoned in non-inflated currency, the Dow may very well be below what it was ten or twenty years ago. That's just my opinion, but I think it is valid one. Without inflation, I don't think the Dow would be anywhere near where it is today. There's no fundamental, or organic, reason why this should be so.
As with any asset the price of a currency, in goods and services terms, is a function of supply and demand. Conjuring US fiat out of thin air (through nothing more than accounting entries at the Fed, no printing required) does indeed expand supply. But sudden declines in demand, due to loss of confidence, are what really drive dramatic inflationary events.
I don't trust Bitcoin and crypto though. Eventually it will be hackable and the Government will be able to control it. Better hedge with Gold, Silver, Plantium and Palladium which are tangible and somewhat outside Government's control. Throw in cigarettes and whiskey as well for a hedge.
Bitcoin is only allowed to exist until it threatens fiat currency and the banking cartel. Meantime, as Catherine Austin Fitts puts it, crypto currencies are being allowed to work out the bugs of pending CBDCs. They can regulate crypto (already there are efforts to do so) anytime they want.
If they could outlaw it, they would habe already done so. Just look at China: they banned it over and over again, but without success.
They banned it because they introduced the digital yuan. Keep up.
And still, around 10% of hashpower (bitcoin mining) is done in China. You can technically ban it, but you cannot practically ban it. People can use and mine bitcoin anyways.
Practicality will take a punch when you literally have to carry around a USB. Does the BC infrastructure plan include utility lines? How about isps
O and as an aside I'd rather not get caught up in still mining in China as theres plenty of people who could use your organs amongst party leadership I imagine.
There are already bitcoin nodes running on satellites. As long as there is an internet connection anywhere on earth, there will be a bitcoin network. Also, how do you intend to use VISA without internet? You also don‘t need a USB to carry your bitcoin, just memorize your seed phrase. It‘s truly antifragile.
Just like Bernard von Nothaus threatened the existing fiat system with the "Liberty Dollar" silver coins. https://thenewamerican.com/fbi-convicts-bernard-von-nothaus-for-minting-and-selling-silver-coins/
Agreed on crypto issues and physical PMs (not ETFs).
Bullets are good for both barter and handy for hunting for food / self defense too.
Investing in your own health, skills and community are good moves these days also.
Silver bullets will also be good for werewolves and zombies. /s
Tangible assets have always offered the best refuge when inflation rages, particularly liquid tangibles which means precious metals essentially.
So it seems. Trick may well be to have denominations (sizes) small enough for daily transactions. A 1-ounce gold coin will be difficult to spend, I think (unless you're buying something really expensive). Silver coins make more sense from that perspective. Time will tell. Thanks.
Any idea when you will be publishing?
Start with a bag of silver 10cent dimes. Then quarters, halves and full dollar silver coins. Then go after 1/10 ounce gold, 1/4 ounce, 1/2 ounce and full ounce. The smaller denominations will be used for smaller purchases. Currently you can buy about 1 1/2 gallon of gas for .25 cent in silver if you cash it for F.R.A.U.D. "notes" (Federal Reserve Accounting Unit Devices. Read this: https://courageouslion380.substack.com/p/blood-running-in-the-streets-mobs
Seems like gold and silver coins are becoming scarce, at least at the dealer I usually buy from. Me who hesitates is lost.
Thank you for the link.
Indeed, there would be a loss of efficiency when it comes to small transactions with a coin or round being converted back to fiat from time to time to cover expenses but during raging inflations people will want to place most of their liquid assets where they are protected. Such has always been the case. Human nature doesn't change.
But you are aware that bitcoin is based on RSA and AES256 encryption, right? Just like your online banking, VISA, even the CIA‘s systems.
If this kind of encryption gets cracked, everything falls apart. Doesn‘t really make sense worry about bitcoin being hackable and not being worried about online banking.
Also, gold is much easier to control by government because they own the vast majority of supply, and it‘s easier to confiscate than bitcoin.
And toilet paper, ammo and firearms.
I've heard it best to have your bitcoin in an offline wallet. I've just started to use Faraday bags as well, 1. for privacy and 2. for protection of my data.
governments and banks will close down bitcoin at some point
Bitcoin is a great idea and is a good thing right now, but I think the biggest vulnerability is the dependence on the network of server nodes that curate and synchronize the transactions, even if they are in various distributed political jurisdictions.
Everybody can run a bitcoin node. As a matter of fact, I am running one myself. It is quite censorship resistant.
How? And why do you think they haven‘g already?
Couldn't they simply outlaw trade and investment in any digital money that isn't created and issued by a central bank?
They haven't done so yet because they are not yet ready to roll out central bank digital currencies. They are allowing digital currencies to exist so they can work out the bugs with CBDCs.
How would you enforce that? Sure, they can ban central exchanges, but you can still trade it peer-to-peer.
I don't know, but I suspect they could find a way. Wouldn't it be enough to dictate that it couldn't be used for transactions? I'm fishing, certainly, but I have absolutely no faith in the privacy of anything that uses the internet.
Every bitcoin created is by default no-KYC. The government does not know who is rewarded the bitcoins of the mining process. Only bitcoins that were purchased on a centralized exchange can be linked to individual identities. As long as you have a stack of bitcoins which you acquired outside of these central institutions, it's practically impossible for the government to know if you own bitcoin and how much.
The "crypto" in cryptocurrency stands for cryptography - bitcoin uses the same encryption which Wall Street banks or the CIA uses to secure their systems. It's not possible to hack bitcoin and compromise privacy with current computer technology - and if it were to become possible some day to hack this encryption, any device connected to the internet will be hackable, including the VISA network or your online banking.
Thank you for this. So, do the IRS regulations regarding crypto currency not apply to bitcoin? If they do, will the government not know about crypto transactions? If they don't isn't it possible (probable) that the Federal government will insert itself into such transactions? I'm not as much concerned about whether or not the government can or cannot know about or access crypto accounts, though that is a continuing concern about government in general (watch the new IRS agents go after hair dressers, lawn mowing services, barbers, etc.). But, if the government swoops in, could it not require bitcoin owners to divulge their access credentials? Also, of what value is bitcoin if owners cannot use it to buy things because of government regulations? You are right - anything is hackable.
We’re all gonna be trillionaires!!!
No, Jordan, you have this wrong. I've followed you for a year, and will continue to do so. That said, your understanding of energy and resources is just WRONG. You say, "Energy should be abundant." Nope. Study Economics (Austrian or otherwise) and you learn that infinite growth on a finite planet is always possible. It's not. This error is the result of a mathematical simplification when designing economics. That's why Economists always seem to believe in perpetual growth on a finite planet. Also in the Tooth Fairy.
Jordan, I'm a physical scientist who understands Geophysics. Energy does not come from technology. Energy is harvested from existing stores and flows of energy. Technology increases the efficiency with which we can harvest energy but does NOT create more. Now our finite stocks of fossil fuels are depleted and, regardless of technology, we can't get more. We're in what's called an "energy-limited economy." Now, Jordan, most Economics will say, "that's impossible because it violates the laws of Economics". Nope. The Laws of Economics are based on Axioms, and some of those axioms are wrong.
Economists consistently make that error because Economics ASSUMES, in its axioms, that infinite growth on a finite planet is always possible. Assume something to be true in your axioms and your later work will always show it is true. Even when it's not.
Please don't go on an 'anti-Malthus rant', Jordan. Economists sometimes do that, because of the aforementioned axioms that seemed valid when they were made but are no longer valid. Many of your ideas are good ideas. On this one you are flat wrong.
"Economists consistently make that error because Economics ASSUMES, in its axioms, that infinite growth on a finite planet is always possible. Assume something to be true in your axioms and your later work will always show it is true. Even when it's not."
I don't think true economists think that, at all. Economics assumes scarcity is the rule. Thus, it does not believe in limitless growth in a finite world. It is a way of understanding the allocation of scarce resources for beneficial ends, based primarily on supply, demand and the price system. I don't think economists concern themselves with growth, infinite or otherwise.
To what "axioms" are you referring? And, how do these "axioms" convey a belief that infinite growth is possible? Please explain.
Because you make this fundamental error about what economists believe, I tend to not trust the rest of your post.
Correct, Johnny. We're not 'out' of fossil fuels and we never will be. Energy resources don't work that way. Johnny, your statements indicate a complete lack of understanding of this topic. For example, do you know precisely how much fossil energy is required for the complete life-cycle of a nuclear fission power plant? I do. Nuclear power plants produce ELECTRICITY. Bulldozers, cement factories, and uranium mines don't run on electricity. Your simplistic understanding of how energy resources work has led you to believe absurdities. The world doesn't work the way you think it works. Do a deep dive into the topic, learn a lot of Physical Science as it relates to energy resources, then see if you feel the same way. The process goes like this:
https://blog.stockspot.com.au/wp-content/uploads/2018/11/dunning-kruger-3.jpg
I'm not a scientist but I tend to side with Johnny truthseeker. Oil may or may not be finite but human ingenuity is definitely not finite.
Canada had a federal election in 2019. There was an enormous amount of energy (pun intended) put into keeping the climate hysteria going strong and thus cancelling Canadian oil and gas projects. The snow job that was done still couldn't quite hide the fact that there were competing interests that wanted Canadian oil/gas to stay in the ground rather than hit the market. For example, certain rich people heavily invested in railway stock didn't like pipelines competing for their business, more oil on the market meant lower prices so Canadian activist groups got lots of funding from those same rich people.
If finite oil truly was a threat to our infinite growth, shouldn't there be a herculean effort put forth to find good, viable alternatives with nuclear being the first stepping stone? That should be the worlds #1 priority right now. What I see is an herculean effort put forth to keep us ordinary folks away from energy use. Any kind of energy use.
To Bruce: the population will not grow infinitely. There are very credible people who've studied the subject, Jordan Peterson being one of them and state that we may get to 9 billion but it's downhill after that. These same people see the biggest problem not in an expanding global population but in falling birthrates (even pre covid) and a shrinking global population. They also state and it should be very obvious that the key to reducing the number of children a family has is prosperity, i.e., affluent people have less children than very poor people.
Yes and we reliably consume with increased efficiency… surely that cannot go onto infinity but so far so good. In middle school one of my teachers declared we were all going to starve if the population kept growing at then pace … ha ha no sign of it although I can see regional drought is a wildcard but all hale desalination!
Some for sure but droughts are a natural phenomenon too
Please, BF. Please don't bring Dunning-Krueger into this discussion. Would you like to learn the chemistry via which one can determine the precise mix of dead biotic matter that went into a particular basin of fossil fuels? It's not a difficult process although it does involve some advanced spectroscopy.
I reserve judgement on whether there is such a thing as 'abiotic oil' that seeps from a 'creamy nougat' layer of the earth. Current understanding suggests there is not, but current understanding is often wrong. I'm open to the idea. That said, please point to an example of any oil or gas field that has 'filled back up' in any measurable way since our species started burning the stuff. Whether or not 'abiotic oil' is a thing doesn't matter if it doesn't alter our energy situation in any measurable way.
'Abiotic oil' is a rabbit hole that serves no purpose. While there might be something to it (I doubt it but admit I can't know) it doesn't change anything. The instant there's any evidence that any oil field is refilling at a measurable rate I'll be all ears. I'm familiar with the Russian scientific studies on this topic and have read pretty much all of them. Scientists should keep on studying it, by all means. Just don't expect anything to come of it.
Do you know which country started with the planet's largest original endowment of oil? Hint: it's not Saudi Arabia. This country started with the most but now only has about 15% of its original endowment still available. This country burned 85% of its starting endowment, which it used to put itself at the top of the global geopolitical hierarchy. This country is the USA.
I may not be correct on my details here, but I have a friend who sells large oil contracts. He told me that we have enough oil in the Dakotas alone (Bakken formation) to supply all our domestic oil needs for 400 years. If we have really used 85% and only have 15% left, that means we have about what...50 years before it's all over?
Bring back silver coinage. A one-ounce coin is currently worth about 20 bucks. It’s practical for everyday use and can’t be inflated away by mere keystrokes on a computer.
What is stopping you from using the silver coins minted by the US MInt?
Thanks to Dr. Ron Paul when he was on the commission, it even has a face value on it.
Um, I don't think Target or Kroger will accept them for their true value. And the face value for a silver eagle is just $1, right. So why would I part for my silver eagle for 1 greenback's worth of food/goods? Yep, I guess I could find an independent grocer or farmer who might accept them for their true value but that's tough to find.
What else will you use when presenting Federal Reserve Notes gets you arrested and sent to a FEMA camp? With what is happening in the economy and country, those who will accept the gold and silver that the Constitution says is legal tender will stay in business.
This is a good interview. Among other things discussed, Catherine Fitts talks about the difference between a financial system that destroys (the one we currently have0 and a different system that enriches and improves all of us. Sadly, TPTB would never allow that system to exist because it threatens their stranglehold on everything. If we all were rich enough to be kings, there would be no need for them, the kings we now have.
https://www.oval.media/en/mrglobal-2/
Also available on Odysee, if you're interested. Educational and enlightening.
Contrived scarcity, whether as a function of lunatic climate policy or continuing dysfunction with supply chains, and profligate spending are the inevitable consequence of lackluster, unintelligent leadership. Whether the underlying policies are enacted with actual malice, this amounts to malfeasance and is a grievous harm to those most in need.
Great reporting, Jordan, and let us hope that, though exercising our franchise rights collectively in November, we can introduce accountability for the cretins inflicting this needless economic damage to our Country and countrymen.
Have noticed mainstream outlets like Barrons fluffing ETH lately, my theory is that is the real spook money. The Cabal knows this system is collapsing so they need a digital money they can control, ETH may be the precursor to CBDC. BTC will hum along and collect adopters as people do the hard work to actually understand its properties and how it works. Everyone else will get trapped into the digital coupon hell / social credit score system of the CBDC.
Thank you! I tell people this all the time. Things should be basically free at this point, but they've stolen the margins. The efficiencies created in the last 100 years, and especially the last 25 years are unprecedented. Yet things cost 5,10 or 20x or more what they did a century ago. 25 years ago I worked at a hotel while in college. Every guest who had ever been there had a paper registration card. It was tucked into one of many many file cabinets. At night we tallied paper receipts and matched them to the accounting books, category by category. It took some 6 hours to audit and close the previous day's business. Then we got computers. Those big file cabinets went away along with all the paper records. Daily books were a click away as we're reports and tallies. The close of day operations were reduced to printing some reports and making sure the numbers matched. There were never math errors. Later this process was automated to the point of clicking a single button. As you sat in a room with only one $600 computer. Exhaustive recordkeeping tasks were eliminated completely. The front desk area shru k considerably without the need for miles of filing cabinets. Any idiot capable of reading at a 4th grade level could do all the daily accounting tasks forlesser wages. A model of efficiency! And what was the reward? Today it costs 4x what it cost to stay there than it did when I worked there. WTF? The entire world is one big glaring example of this total disconnect. All these efficiency gains led to productivity gains, profitability gains, bigger margins, and larger volumes. All of which should have driven the cost of things down significantly. Yet the exact polar opposite has occurred. Because they stopped?e and squandered all the productivity gains. But more importantly because some had the access, authority and opportunity to do so that you did not have. As you toil away in their rigged system thinking you'll ever get ahead, as your money and it's value are stolen almost as fast as you can make it. We could get off this train at any time if we had the will but sadly most are too busy chasing the rising cost of things to stop and see that it's all just theft
A hidden and cruel regressive tax on everyone, is what inflation is, was, and always will be.
I have long invested in metal , I'm a mechanic, machinist, welder, and have long held "capital" in the form of steel, aluminum, copper, all the metals our Nations, our societies are built out of. I began investing in silver in the early sixties, one of my "favorite metals" because it's so easy to work, to melt, purify, cast, forge, one of the perennial useful metals. Gold remains money simply because it can't be forged, anyone with the knowledge, can easily determine it's weight, purity, and thus its "portable value", simply being the most affordable, portable metal. The bottom line that most seem to miss, is gold, silver, copper, iron, only have value while others continue to plant and harvest, to provide food that all, including metal workers, must have to live. Gold and silver, copper, aluminum, iron, hold value because we make tools of them, tools that improve our harvest, planting, our production of bread. If we can't get those things, we won't need the metals. Crypto is already broken, because it's not accessible except with electrical power. We forged this world because we have full control over fire, we will never have full control over "electrical power", it will always be in the hands of the elite. No house could ever stand, without a sound foundation. Gold and silver remain the foundation of civilization.
You have a very good grasp on why gold, especially, and silver were chosen by the market as monetary commodities. One of the main reasons is their relative scarcity, and another reason is their resistance to being counterfeited and "multiplied" beyond bounds.
For me, sound money, and the lack thereof around the world, and especially in the U.S., is the main reason why I distrust all governments. The fraud either starts there or is very close to the beginning of the fraud. Because governments debase sound money, everything that flows from that is also corrupt.
Because they lie about money, everything else they say is a lie.
Anything that goes away when you unplug the computer is not real. Period. Better get into tangible assets. Good land, real estate and essentials are the real deal. Gold for wealth preservation and silver for commerce. Guns, ammo, tools, food stocks and the ability to live for long periods off the grid will be required if you want to stay out of the coming shit storm. Think for yourself. Can you lock the front gate and sit tight for a month? a year? better figure it out. Pray, plan, prepare and RESIST.
"...market forces will ultimately restore order."
No. The natural state of market forces with no other control mechanism is chaos. Any spontaneous order deriving will be an actor having grown large enough to start buying up other actors, eventually leading to greater and greater parts of the entire market - from raw material to commodity or good on the store shelf - coming under unilateral monopolised control, effectively creating a monopoly.
I.e. order.
In theory, and as recent evidence seems to bear out (concerning large corporations the only purpose of which is ownership of other corporations.such as Blackrock ring), this development will lead to planned economy and a sort of communism arrived at via capitalism. (Which by the way is how Das Kapital described communism coming into being as the dominant financial system would happen.)
The state will be reduced to the enforcer arm of the corporation, and eventually all notion of them being separate entities will be gone - witness the collusion of the Biden White House and social media for a concrete example, or the overlap of Pfizer employees and FDA/CDC staff.
You don't get to travel in style and comfort by giving the horses loose reins, or losing the reins, nor do you get to travel anywhere fast by insisting on leading the horses.
I disagree that market forces, without any other control, are chaotic. It may look like chaos, but it is not. The market, if it is free and open, is subject to all kinds of regulation, without any outside control.
All you need is to allow the market to work.
The agent that destroys this arrangement is government. It interferes precisely to give some actors privileges that other actors do not get. Governments allow some actors to get around competition. Certain actors get to write regulations that favor themselves and hurt their competitors.
"Regulation" is the last thing we need for a healthy economy.
"controlled and manipulated by unelected, unaccountable, unsanctioned masters of the universe." --
Today, the so-called "elected" and "accountable" also remain completely unaccountable and unsanctioned while rabidly committing the crimes.
You state that you are an investigative journalist. I have been unable, for several years, to find an honest and true investigative journalist or any genuine "gov. accountability" establishment, although I was offering the actual evidence of the endless crime, being committed under the color of law (by the so-called "accountable" and "elected.")
Could you look at my story? https://1dissident.substack.com/p/good-bye-my-beautiful-body
And I apologize for off-topic.
I have some comments, Jordan. Paid subscriber for about a year now.
"there is absolutely no organic trigger for the inflation you’re witnessing today"
Well, we've been printing our way to prosperity since Nixon took us off the gold window 1972. But I'd say printing $7Tn to pay people to not work during the plandemic is about as an organic trigger as one can find. But even before that, financing Obama and Trump's deficit spending was some serious organic inflation. We'd been able to offshore some/most of that because of the petrodollar, but CovidBucks was that spending on steroids.
"while the 99.9% become the ultimate fiat bag holder suckers"
I mean, ultimately, sure, but DXY is up 18.43% YOY. Dollar holders have done pretty well, especially compared to the Euro.
"But now we are witnessing cascading failures"
Europe is committing suicide, but that failure is not headed for Russia, the US, China or the rest of the world. I mean the US is gonna pay, but the Fed is raising rates and it's been fairly painless thus far (housing will feel the most pain going forward, but the jan-feb 2022 bubble needed popping anyways).
"If their system breaks, all bets are off."
Who's system? The US' is being fortified by the Fed raising rates. Europe is stuck between the proverbial rock and the hard place.
"There’s a lot of both warranted and unwarranted critiques on governments’ potential imposition of a CBDC..."
The Fed opposes this. The WEF is for this. I know it seems crazy, but we may need to re-check our priors. Why is the FED doing the opposite of what Davos/WEF/ECB/EU/LaGarde wants?
"..is that the U.S. Dollar, the Euro, etc. is already a tool for control and manipulation."
This tool for control and manipulation is currently EFFING the EU in the A if you know what I mean (maybe even worse than Putin cutting off Nordstream!). The Fed is sucking up all the world's extra liquidity, yet the stock market, though lower, hasn't cratered. Why?
"The CBDC only sharpens the power of dollar to coerce, manipulate, and control."
Neil Kashkari tweeted recently that the Fed is not interested in CBDC. Singapore's national bank did the same, too. The only ones who want this are the Davos/WEF/ECB crowd, and they are currently bent over a table now by Jerome Powell.
I too think BTC is a tool for freedom, and the ruling reason for owning it is still sound. But keeping cash is a good idea, too. (If cash were invented today, do you think they would let us use it?) I don't know what the future holds, we are in uncharted territory, esp w/r/t the Fed/ECB split. Therefore, at a high level, I'd be long USD/oil; short the Euro and wait to see how far AU, AG and BTC fall before getting involved (or DCA your way down).
Tl;dr: Our priors may not mean much when their is a split btwn elite bankers like there is currently between the Fed and the ECB/Davos/WEF/EU crowd.
I think by "organic", Jordan meant "natural", not artificial. The $7Tn in spending certainly did cause prices to rise, but is not "organic" or fundamental. That is artificial, i.e., not natural.
I think of the equities markets the same way. There is no fundamental, or organic, reason why the Dow is at ~32,000. It is valued at such levels because the unit of account has been depreciated. Reckoned in non-inflated currency, the Dow may very well be below what it was ten or twenty years ago. That's just my opinion, but I think it is valid one. Without inflation, I don't think the Dow would be anywhere near where it is today. There's no fundamental, or organic, reason why this should be so.
As with any asset the price of a currency, in goods and services terms, is a function of supply and demand. Conjuring US fiat out of thin air (through nothing more than accounting entries at the Fed, no printing required) does indeed expand supply. But sudden declines in demand, due to loss of confidence, are what really drive dramatic inflationary events.