Political rants

Thank you for clarifying. I understood incorrectly. I lowkey thought you were going to give some bot left wing response. I was fittin to roast you over the flames Lol.

no that shit is infuriating when real issues are present. instead they wanna inflate everything and toxicity any credibility they might have once had. the hugbox echo chamber affects of the modern internet encourages this, and im hoping this, like most things, will wane as culture keeps evolving

Buy buy buy, im telling you now buy food, supplies, gold, silver whatever. The world is gonna change here pretty soon. Not fear mongering but between china announcing war with taiwan by 2025, japan ramping up its military spending, bank of America CEO putting out comments about America defaulting we are all about to be hit really hard https://youtu.be/VDVV7UQNVv0

Panda, it's going to be ok. Not because I have blind faith in the system, trust me no one is more critical of our system than I, but because people like this pop up trying to actually fear monger all the time. After long enough you start to understand why they are wrong and what they have to gain from making a bigger deal out of things like this than they need to be. Don't get me wrong, it's fine to worry about the economic future of our country and take steps to mitigate harm to your life style, but within reason. An example: Banks of any size in the US default all the time and without you noticing. The FDIC and NCUA step in and take control of banks or credit unions before they default to ensure public faith in the USD. Or that currently the PRC is about to face economic hardship within the next 5-10 years regardless of any international scheme they cook up, largely because of their old policy of one child leading to an aging population of workers not being replaced by anyone. Or that Japan and every country near the South China Sea are increasing military spending because China realized a military weakness there and is now trying to fix it by disputing the whole area as their territory despite it being a trade route the whole world uses. Or that we live in a capitalist society that turns everything into capital, including debt. In fact the majority of our economic system runs on debt. It's going to be ok, at the very least, it'll be ok for now.

While i know the chinese have many obstacles in the way of becoming a super power. I also know they have been setting themselves up for success. Buying up land in other countries dipping their paws in our government, ramping up their military might, setting up islands in the south china sea, also like that man said they have coordinated with some countries already to overtake the Us dollar backing. Taking russia off the swift banking system was pretty dumb. Sanctioning russia in general was stupid. The world leaders think they dont need oil anymore because they are moving to clean energy without actually having any of the infrastructure set up. You can clearly see the ripple effect from this war. While i know these doomsday guys have been blabbing since before the early 2000's never in our history have we been in the position we are in now. When biden took office we hit 12 trillion in debt and now we are at 34 we dropped 22 trillion more in debt and they wanna raise the ceiling yet agin. We have more debt than we will ever be able to pay off. Our economy will not recover from this and people are losing faith in the us and its economy. Yeah the world is feeling the pain of everything going on but china has basically created a plan for this. While you may think they arent really all that sustainable all it takes is them replacing us long enough for us to crash and burn as a nation and fall into third world country levels which will ultimately cause the us to break up because the Republicans and Democrats will blame each other for the way things played out. Its already happening with tensions being high between both parties.

“When biden took office we hit 12 trillion in debt and now we are at 34 we dropped 22 trillion more in debt.” Did you pull those number out of your ass pandus? A simple Google search shows that Biden started with a debt of 27 trillion, not 12 trillion. US debt hasn’t been at 12 trillion since 2010. Call me crazy. But Biden took office in 2020, not 2010. Unless there’s some weird time travel mechanics that I’m unaware of Lol. The devaluation in Lebanon. Guy in the video has a really faulty understanding of basic economics. Imports are dominated in US dollars. Lebanon ran out of US dollars. No US dollars means Lebanon can’t import, therefore in order to import. Lebanon started printing it’s own currency out the wazoo to buy US dollars from it’s own currency. In it’s fight to get US dollars. Lebanon effectively devaluated it’s own currency. The US can’t devalue it’s currency like Lebanon because imports are denominated in US dollars and the US itself can print it’s own US dollar. US can't inflate away like Lebanon because there's no need to devalue to get imports into the US. Make sense? The east banking system with China and Russia is tiny when compared to the rest of the world. The Chinese renminbi (CNH) is currently the 8th most traded currency. Not the 2nd or 3rd, but the 8th. Why is it the 8th and not the 2nd most traded after the US dollar? There’s a lot of reasons. Two name a few. First, the Chinese government imposes heavy capital controls on it’s currency. It’s very easy for countries to go in and out from the US dollar because the US doesn’t have strict capital controls. Chinese renminbi is not a free-floating currency like the US dollar. Even assuming the Chinese allowed for a free floating currency with no capital controls. Chinese renminbi liquidity is still extremely low when compared to the US dollar. It’s the 8th most traded for a reason. If a country wants to convert trillions of dollars out of the Chinese renminbi but there’s isn’t enough liquidity in the market to fill your order, then your shit out of luck. Hence why most countries haven't adapted the Chinese renminbi.

Another thing too. I do think people should buy gold. I personally don't put more than 5% of what I have into gold. I buy gold for the same reason I buy stocks or I buy Bitcoin. I buy gold and other assets because it makes me money in the long run. I don't buy gold because some day in the future gold will eventually replace the US dollar. Let's go through the hypothetical. Let's assume the world goes to shit. The dollar collapses. Gold replaces the dollar. Are you going to take your little gold pellets into the store buy milk and eggs? How's that going to work out? Everyone just walking around with bars of gold. How will you subdivide your gold to buy shit? Yes sir, that'll be 2.56 grams of gold for that apple juice. There's a good reason why ancient civilizations stopped using gold as a currency. Gold is not very easy to use as a currency.

Now for the memes bitches! https://i.pinimg.com/736x/6b/ed/cc/6bedcc6df62625f9e05f5668e958a509.jpg

@alephy Well that is why the the original dollar wasn't really a dollar. It was a silver note. Before we switched from the gold standard, you could take a dollar down to the federal government office and demand that it be traded in for it's value in silver. So the note was more a promise the government could give you a tangible asset for the note itself.