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"Literally, Your ATM Won’t Work…"
By Bill Bonner Of Bonner And Partners
Literally, Your ATM Won’t Work…
While we were thinking about what was really going on with today’s strange new money system, a startling thought occurred to us.
Our financial system could take a surprising and catastrophic twist that almost nobody imagines, let alone anticipates.
Do you remember when a lethal tsunami hit the beaches of Southeast Asia, killing thousands of people and causing billions of dollars of damage?
Well, just before the 80-foot wall of water slammed into the coast an odd thing happened: The water disappeared.
The tide went out farther than anyone had ever seen before. Local fishermen headed for high ground immediately. They knew what it meant. But the tourists went out onto the beach looking for shells!
The same thing could happen to the money supply…
There’s Not Enough Physical Money
Here’s how… and why:
It’s almost seems impossible. Hard to imagine. Difficult to understand. But if you look at M2 money supply – which measures coins and notes in circulation as well as bank deposits and money market accounts – America’s money stock amounted to $11.7 trillion as of last month.
But there was just $1.3 trillion of physical currency in circulation – about only half of which is in the US. (Nobody knows for sure.)
What we use as money today is mostly credit. It exists as zeros and ones in electronic bank accounts. We never see it. Touch it. Feel it. Count it out. Or lose it behind seat cushions.
Banks profit – handsomely – by creating this credit. And as long as banks have sufficient capital, they are happy to create as much credit as we are willing to pay for.
After all, it costs the banks almost nothing to create new credit. That’s why we have so much of it.
A monetary system like this has never before existed. And this one has existed only during a time when credit was undergoing an epic expansion.
So our monetary system has never been thoroughly tested. How will it hold up in a deep or prolonged credit contraction? Can it survive an extended bear market in bonds or stocks? What would happen if consumer prices were out of control?
Less Than Zero
Our current money system began in 1971.
It survived consumer price inflation of almost 14% a year in 1980. But Paul Volcker was already on the job, raising interest rates to bring inflation under control.
And it survived the “credit crunch” of 2008-09. Ben Bernanke dropped the price of credit to almost zero, by slashing short-term interest rates and buying trillions of dollars of government bonds.
But the next crisis could be very different…
Short-term interest rates are already close to zero in the U.S. (and less than zero in Switzerland, Denmark, and Sweden). And according to a recent study by McKinsey, the world’s total debt (at least as officially recorded) now stands at $200 trillion – up $57 trillion since 2007. That’s 286% of global GDP… and far in excess of what the real economy can support.
At some point, a debt correction is inevitable. Debt expansions are always – always – followed by debt contractions. There is no other way. Debt cannot increase forever.
And when it happens, ZIRP and QE will not be enough to reverse the process, because they are already running at open throttle.
What then?
The value of debt drops sharply and fast. Creditors look to their borrowers… traders look at their counterparties… bankers look at each other…
…and suddenly, no one wants to part with a penny, for fear he may never see it again. Credit stops.
It’s not just that no one wants to lend; no one wants to borrow either – except for desperate people with no choice, usually those who have no hope of paying their debts.
Just as we saw after the 2008 crisis, we can expect a quick response from the feds.
The Fed will announce unlimited new borrowing facilities. But it won’t matter….
House prices will be crashing. (Who will lend against the value of a house?) Stock prices will be crashing. (Who will be able to borrow against his stocks?) Art, collectibles, and resources – all we be in free fall.
The NEXT Crisis
In the last crisis, every major bank and investment firm on Wall Street would have gone broke had the feds not intervened. Next time it may not be so easy to save them.
The next crisis is likely to be across ALL asset classes. And with $57 trillion more in global debt than in 2007, it is likely to be much harder to stop.
Are you with us so far?
Because here is where it gets interesting…
In a gold-backed monetary system prices fall. But the money is still there. Money becomes more valuable. It doesn’t disappear. It is more valuable because you can use it to buy more stuff.
Naturally, people hold on to it. Of course, the velocity of money – the frequency at which each unit of currency is used to buy something – falls. And this makes it appear that the supply of money is falling too.
But imagine what happens to credit money. The money doesn’t just stop circulating. It vanishes. As collateral goes bad, credit is destroyed.
A bank that had an “asset” (in the form of a loan to a customer) of $100,000 in June may have zilch by July. A corporation that splurged on share buybacks one week could find those shares cut in half two weeks later. A person with a $100,000 stock market portfolio one day could find his portfolio has no value at all a few days later.
All of this is standard fare for a credit crisis. The new wrinkle – a devastating one – is that people now do what they always do, but they are forced to do it in a radically different way.
They stop spending. They hoard cash. But what cash do you hoard when most transactions are done on credit? Do you hoard a line of credit? Do you put your credit card in your vault?
No. People will hoard the kind of cash they understand… something they can put their hands on… something that is gaining value – rapidly. They’ll want dollar bills.
Also, following a well-known pattern, these paper dollars will quickly disappear. People drain cash machines. They drain credit facilities. They ask for “cash back” when they use their credit cards. They want real money – old-fashioned money that they can put in their pockets and their home safes…
Dollar Panic
Let us stop here and remind readers that we’re talking about a short time frame – days… maybe weeks… a couple of months at most. That’s all. It’s the period after the credit crisis has sucked the cash out of the system… and before the government’s inflation tsunami has hit.
As Ben Bernanke put it, “a determined central bank can always create positive consumer price inflation.” But it takes time!
And during that interval, panic will set in. A dollar panic – with people desperate to put their hands on dollars… to pay for food… for fuel…and for everything else they need.
Credit may still be available. But it will be useless. No one will want it. ATMs and banks will run out of cash. Credit facilities will be drained of real cash. Banks will put up signs, first: “Cash withdrawals limited to $500.” And then: “No Cash Withdrawals.”
You will have a credit card with a $10,000 line of credit. You have $5,000 in your debit account. But all financial institutions are staggering. And in the news you will read that your bank has defaulted and been placed in receivership. What would you rather have? Your $10,000 line of credit or a stack of $50 bills?
You will go to buy gasoline. You will take out your credit card to pay.
“Cash Only,” the sign will say. Because the machinery of the credit economy will be breaking down. The gas station… its suppliers… and its financiers do not want to get stuck with a “credit” from your bankrupt lender!
Whose credit cards are still good? Whose lines of credit are still valuable? Whose bank is ready to fail? Who can pay his mortgage? Who will honor his credit card debt? In a crisis, those questions will be as common as “Who will win an Oscar?” today.
But no one will know the answers. Quickly, they will stop guessing… and turn to cash.
Our advice: Keep some on hand. You may need it.
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Yeah, we know, but do you have a time frame? Early is the same as wrong.
There will be no Cash Only signs, the result of the next crisis will be a ban on cash. It is easy to see that the winds are already blowing in this direction, and though there are a few ways to do it, I have little doubt, that to counter exactly what this post is describing they will make a move to ban cash.
My thoughts exactly, but there will be a blackmarket created almost instantly. What the ultimate medium of exchange will be is sort of a toss-up. Inititally, though, I think cash will still be king until more realize there is nothing supporting it.
Ummmmm,,, nothing is already supporting it.
LOL - unless they introduce a parallell cash / cashless society that can facilitate the illegal drug trade, cash will always be around. After that a black market pretty much will form around the cash side.
I chuckle every time anyone mentions a cashless society, because there is too much invested in the illegal drug trade all across the spectrum.
This is a useful exercise. If you could not hold cash or cash held zero value, you need to have something others are willing to barter the essentials for. To my eyes, that would be guns, broads, and whiskey. In many scenarios, a gun gets you even, whiskey numbs the pain, and a broad will make you feel good. Look for me, I'll have the best prices in town!
We can thank the fractional reserve banking system for this conundrum, along with the blind greed of the banksters... Water, water everywhere and not a drop to drink...
They can’t get rid of cash..
The drug trade is too valuable to the State.
Bill Bonner is talking about deflation which is when the $USD fiat is worth something. This is what most will think but forget the final step; Hyperinflation. The Fed will step in one final time and through fear people will let them dump money everywhere... that's when the cash you have is worth nothing. Any dollar denominated instrument will skyricket because people will be getting rid of worthless paper for tangibles like guns and ammo. The S&P will sky rocket to 100,000, Gas will go to $300 a barrel. Whats best is if you actually pay off all your debt now because youll need cash to barely make the price of food. Once hyperinflation hits, thats when you max out everthing on hard assets as fiat goes down the drain.
If we went from 1913 prices then overnight went to 2015 prices there would be absolute panic and there would be a Revolution that would make 1776 look like a thumb war. The Fed just did it slowly over the years but once the truest Austrian Ecnomics pinciples come into play the coersive game is over. Fiat is wothless and will always be.
The ultimate winner will link their currency to gold and/or a basket of commodities. The $USD fiat is currently backed by men and women who unknowingly or knowingly become hitmen and hitwomen when they join the US Armed forces or CIA. Major General Butler knew it was a mafia and it still is a mafia today.
"There’s Not Enough Physical Money"
what with credit cards and debit cards and grocery store loyalty cards and iris scanners and proximity sensors and google's skin tattoos and square and face recognition and gift certificates and SNAP and WIC and whatnot and so forth, nobody needs ATMs any more
paradise has arrived
I walked through the potato patch. I met Martha. She offered me a cocktail. Thank you.
I see you got back in. Is anyone taking bets on how long he lasts this time?
AWESOME Changes Coming Around The Corner
They're going to have ATM's dispense trinkets and beads.
That should be good enough for the schmuckster nation.
Im developing an ATM that dispenses wampum...and scratch-off oyster shells (the winners find a pearl).
To a starving man a can of soup is worth more than a stack of hundreds or an oz of gold. Scarcity and need will determine what will have value. A life sustaining item (water, food, medicine,etc) could become the most valuable item of all. In Cormac McCarthy's book The Road the father and son take a gocery cart of can goods from the "bunker" they found. They leave the small bag of gold coins they find there behind, the coins were just dead weight.
Fed, you know :"the road" is fiction? right? food & water are basic needs. gold is to make eating possible in most civilized lands- the road is end of the world stuff and then who cares if you eat?
“ATM that dispenses wampum”
I still have my Puka shell necklace..
It will be worth a fortune then.
..still fits, too :-)
This too is a story short in History. The FED reserve did not print currency during the Last Great depression and yes Barter currency was issued on a local basis. Same would happen again. Local currency based on a dollar value.
Ever wondered what a dollar is? Where they come from?
https://youtu.be/kgoFcyttk-s
The gold isn't for the panic. It's for afterwards.
I would certainly like to emerge from the coming shitstorm with some wealth. Many things will have value but show me one thing that has the concentrated value that gold does (besides the odd piece of art).
I totally agree! I've been stacking 10-20 extra cans of beans each supermarket round. All that "guns & ammo" talk sounds good but they'll be useless in a zombie apocalypse. The state will step in and ban outlaws.
Instead buy a loarge knife/crossbow and TONS of food! And keep your prayers up...
Youre probably better off buying big bags of dried beans. Theyll last longer and you can pressure can them yourself.
The good thing about a crossbow is that unlike a gun it won't give your existence and location away.
The problem with a crossbow is that you'll run out of bolts.
Ideally, you want a recurve bow, for which you can make your own arrows.
And you should be getting dried goods- beans, bulgar wheat, protein powder, psyllium, etc.
Also, stock up on honey- it doesn't have an expiration date.
McCarthy seems to suggest the world of "The Road" took place in the afternath of the Yellowstone Caldera Supervolcano erupting.
Your skin tattoos tell me you have 539.201 dollars in debt. Would you like some more?
If they ban cash they couldnt just stop there. You would have to ban gold, silver, platinum, cigarettes, tulips and a lot of other more or less valuable things. If you push it too hard and people still see no value in the currency they are forced to use, they will go barter! Yes you can (and have practically already done so) illegalize barter trading. But you cant stop the critical mass of people. Even police thugs will eventually stay home and grow their own potatoes.
That won't stop them from trying, but yeah it will become futile very quickly.
The psychopaths can't ban cash any more than they can ban barter. Both are already king on the street. What're they gonna do, send out the enforcers because somebody traded home repairs for a pail of garden produce? PISS OFF. And we are already in hyperinflation. The only things stopping it from becoming obvious are controlled media and the fact that the QE is being funneled into containers that keep it off the street. But the stock market keeps rising to silly numbers with no real economic fundamentals to back it. Nothing is real anymore! It's all just bullshot foisted by the psychopaths: macroeconomic "global warming." No wonder they're so desperate for war! They need cover for the fact that they're just about finished stripping and looting, and need to project blame on a scapegoat. Are you sick as I am of hearing the media prattle about "Putin's Aggression?" YOU'RE THE AGGRESSORS, YOU DEGENERATE BANKSTER GARBAGE.
Barter is of course illegal (and likely a capital crime) in North Korea, yet it is the basis of their real economy. Which tells me central control of a true economy is impossible even in a police state. And it has always been thus!
In Communist Russia, 97% of the farmland was collective yet over 60% of all vegetable and fruits came from the 3% of the privately owned plots. Central planning and control is both ineffective and unenforaceable (see the drug trade for example)
This is what most will think but forget the final step; Hyperinflation.
At the beginning of the Weimar Hyperinflationary Inferno cash disappeared from circulation. People resorted to issuing their own Promissory Notes becauseof the lack of Government issuance.
You can read about it in the book, "When Money Dies"
www.goldonomic.com/When Money Dies.pdfI strongly suggest that you do as time grows increasingly short.
OFF TOPIC...
Here is a video on YouTube critical of our Zerohedge...
https://www.youtube.com/watch?v=llbzUyv1CLU
You may want to let this poster know your position.
I tried. couldn't get past a couple of minutes. old applesauce is a real snooze.
can you summarize his position, TT? I am somewhat curious.
Don't bother. It's nothing new, just some dude's verbose editorial, mainly about fractional reserve banking, trivially critical of the Tyler pseudonym.
That guy is for eating. . . you know, after the SHTF.
I lasted about 20 seconds over there before re-starting the Alex Jones Sunday show again. I was reminded of WB7's contributions (which are always quite good).
'Applesauce' pro'lly owns a chain of ATM's (and probably once worked for Bear-Stearns as a men's room janitor).
Dipshits like this will ALWAYS be around (until they aren't). This bitch will be the first one to suck the cocks of those who tried to tell him (and he didn't listen until it was one second too late). When he's rejected, he'll line up outside his regional camp FEMA, hoping to get a slice of bread.
Sorry, I don't have an account on GOOKLE-TUBE.
He's got his meds, so he's happy. Let him live out his self-deluded lies.
HEY!
LOOK!
BRUCE JENNER is a WOMAN!
Signed, Applesauce
(sent from my i-phone in my mommy's basement)
Take note goobermint workers:
"Former civil servants and officers are undoubtedly the poorest of the poor in Austria today. They are too proud to press their claims, can get no employment. Thus it happens every day, again and again, that elderly, retired officials of high rank collapse on the streets of Vienna from hunger."
Yup, and the enforcers were paid with commodities. The story went that people who were fiat dependent upper middle class would be "missing" things from their homes every week. First it was the candlesticks, then the entire service, finally the piano.
First deflation then hyper inflation. We have been in a deflationary economic coma for 7 years now..so guess what's next?
Why would they leave money on the table?
"Bill Bonner is talking about deflation which is when the $USD fiat is worth something. This is what most will think but forget the final step; Hyperinflation."
The final phase of the inflation/deflation cycle is deflation, not hyperinflation.
Any of the gold promoters talk of gold going to 3,000, 5,000 an ounce. None talk of gold going to a million dollars an ounce or more.
You have NO IDEA of the terms you are discussing.
'INFLATION' and 'DEFLATION' have NOTHING (DIRECTLY) to do with the so-called 'PURCHASING POWER' of the FIAT CURRENCY in question; they are terms which describe the number of units of this FIAT CURRENCY in 'circulation'. You are confusing a REACTION with an ACTION. DEVALUATION and DEFLATION are exact opposites, in fact (when discussing economics).
Bonner is right as deflation always precedes hyperinflation (hyperinflation is the result of a government's over reaction to the deflational forces) but the curious part will be how politicians respond to the threat of cash hoarding. Typically they try to just ban whatever is being hoarded so back in 1933 people were hoarding gold, therefore they just made it illegal to own. If this time people are hoarding cash then logic would say they would then switch to a cashless approach making it illegal to pay with dollar bills anymore. This will then likely set of a wave of additional temporary currencies which could be anything like commodities (PMs, fuel, food alcohol, drugs, etc) or it may see the rise of states again creating their own currencies as they did back in the early days of the US. Some people may still trade in dollar bills but that group will diminish greatly if they turn around and make such acts illegal and therefore punishable in some way shape or form.
drug is outter part of the economy of a society, the maine line on the inner part is...corruption, corruption need cash. to me, cashless do not mean " problem with drugs " ( even if i agree with you all ) but it more mean " problem for corrupted to get the stolen stuff " and the men with hands on the joysticks are rarly agree to put joystick in ass and play kinnect mode instead.
cashless is a slow process that will not happen because before it is done and functionnal there will be serious fights everywhere to get the joystick.
"drug is outter part of the economy of a society, the maine line on the inner part is...corruption, corruption need cash"
True. Just ask Denny Hastert.
I am attempting to wrap my brain around the logic here. The idea that government should ban that which government created in the first place seems rather absurd. Why not simply remove the gun from the room?
Cash is personal property, credit is just an account entry. Cash has costs, credit has no cost untill it leaves the system as cash.
So if everything is credit then its a closed loop of without costs or the issance of property.
Thats why credit is used to control the finance system instead of cash. No hyper-inflation, no deflation, just controling access to accounts and the moveing of them without the use of property.
Cash has costs? It costs me nothing to stuff my cash in my mattress. The cost of credit is the time-value of money (interest). On the lender side the cost is measured in risk (of default
Still...what is the logic of government banning that which has value largely due to government fiat in the first place? Without government fiat there are no FRNs. Why not strike down the legal tender laws?
Let's simplify this for you.
The so-called 'government' is thought of as being a 'BENEVOLANT SERVANT'.
THIS IS A VERY LARGE MISTAKE.
When the so-called 'GOVERNMENT' is comprised of people who want to take everything that everyone owns via issuance of CREDIT, the NATURAL last steps will involve the banning of an object of trade that doesn't allow this 'GOVERNMENT' to get a cut of it.
FRN's are simply electronic entries on a computer. The FEDRES is an illegal entity (and their fiats are illegal by LAW). 'No State shall... make anything but gold and silver coin, a tender in payment of debt'... OOPS.
I'll follow Bill Bonner's advice, and keep a few debt instruments on hand (to use as fire-starters or toilet paper, or collectibles).
THEIR so-called 'logic' isn't RATIONAL, or 'LOGICAL', but it IS 'REALITY'.
Are we literally not doing phrasing anymore?
https://www.youtube.com/watch?v=hyLWrKh2fB0
Lead bullion.
Lead, Brass, and Antimony are the NEW 'commodities'.
You'd all best get in on the 'ground floor'.
A handgun is the tool that you use in able to get to your battle rifle.
"How much for the leetle gurl? 'What??' Your women, how much?" [2.32 and following] :>D
never trade something that could come back at you faster than sound waves...aka a bullet.
when money is corrupted as it is and govts close the gates on alternatives, everyone will realise that being a criminal is the only way to survive.
Then there will be no more zombies. Mass resurrection.
anarchy - sons of bitchez for plunder. go get yours at the point of barrel. animal instincts of survival. kill or be killed...cashless to me means broke and desparate, fucking hungry and without remorse for actions. oh and hollywood can reproduce it for your comfort, ha...
Who writes this drivel? Total confusion WRT to fiduciary (M0 UK or M1 US) and bank credit. Simply study what happened to the Papiermark to realise this author of this peice is a prize twat. Once a currency goes down the pan, whether as cash, promissory note or credit, it becomes worthless in all its manifestations. If the US$ becomes toast then it will drag down everything simultaneously. The only genuine hedge against collapsing currency is self-sufficiency to the extent that you can give the finger to the world. Otherwise you're knackered. There's no guarantee anyone will except gold or silver coins from you in lieu of food etc. The solution to the Papiermark/Rentenmark should be investigated if you want to see how the Krauts got out of the shitter; spolier alert - it was partly addressing fiat backing for the curerncy but mostly about getting productivity shuffling again.
upvoted
this guy writes for a living, if he stops writing he starves ,
Yes credit is fungible.
Dear limey, a few pro tips. A prize twat is a good thing to most people. Put one against your stiff upper lip (stiffest part on a drunken Brit, I'm told) and see for yourself. Currencies, like everything else cannot go down a pan, a pan has no exit. Therefore, study your history and take note that Sir John actually had a drain aperture in his novel Crapper device. Therefore, like crap, currrency will go down the drain. PS - your history is actually shit (spolier <sic> alert) because there was another massive deflation after the introduction of the Rentenmark. Productivity did not truly come roaring back until they started walking funny in their knee high boots (stolen from the Brits, no doubt). Carry on, sod off and all that.
When there's no physical cash criminals will go to Gold and Silver and this is how TPTB will criminalize the holding of PMs. Get your boat ready.
Once we finally get anonymous internet, truly anonymous crypto-currency too is another option.
Want anonymity and yet communication? Well for the first just pick a random IP and change it all the time. Just don't expect to ever receive a response to any message you attach to it!
Logic-its not just for mathematicians anymore!
But the majority of the dolts don't know that.
Once you go black market, you never go back.
I freelance over th? internet and earn about 80-85$ an hour. I was without a job for 7 months but last month my paycheck with big fat bonus was $15000 just working on my computer from my home for 5-6 hours. Here's what i have been doing... www.extra-salary24.com
Well, you cant get an STD from giving good phone.
Black Markets Matter.
You can bet your bippy the sociopaths calling the shots have been thinking about taking advantage of Bonner's scenario for a long time. There are so many ways they could get this rolling for example claim on MSM that terrists have figured out how to counterfeit with new printing technology.
That would hurt "the little guy" that "plays by the rules" so TPTB will "level the playing field" and make possessing cash without a license a crime. The inner party determines who gets a license based on "need" (drug trade/hookers/blow). Turn it in now for credits or else lose it. Sounds crazy doesn't it?
I've got a tin foil suspicion this could be in TPP under "currency modernization" and would explain the secrecy/fast track...prevent a global bank run by the sheeple.
FME, I wish the Tylers would reintroduce the "captcha". That used to sort out most of the imbeciles.
Nowadays, the lunatics are really running the asylum.
3+6+9 = ?
Green!
What did I win?
When I first passed that early ZH test (the second try) the answer was a negative number. I think that weeded out a lot of the type who run ramapant here now simply by hitting them with a paradigm shift that boggled their linear processors.
My first ZH captcha was something like the third root of -33.
I was stumped and had to recyle to get a positive root.
third root is not imaginary... just negative the positive version
If you really want to discriminate a better captcha would be:
1/2 + 1/4 + 1/8 + 1/n^2 etc. = ?
And what fundamental paradox does this series describe? (Hint it starts with a Z)
BMET
Black Market Entertainment Television (Yo!)
Not funny eh? Ah c'mon guys, you gave the other two dudes high scores!!!! Yo!
I freelance over the internet and get 80-85 cents a day.
Two more years, counting time off for good behavior, and I'm gonna be able to get me a real job.
I've been collecting Budweiser bottle caps to exchange for food.
Bud Light caps only.
On diet.
upvote for the 4th. he's finally learning the art of wit and seems to have forsaken his juvenille carpet bombing.
Remember during the Weimar years in Germany that people were throwing away wheelbarrows full of Deutschmarks and keeping the wheelbarrows. Others were running down and buying anything, even if they were just plastic combs, because those things retained value whereas cash was losing half its value weekly, then daily, finally hourly, until there was no value because no one saw any value in the Mark, and ultimately even the moneychangers turned their backs on the Mark.
POOF... Then it was dead.
It would have stayed that way for decades if the NWO money did not inject capitol for Hitler's 3rd Reich. Remember Prescott Bush got his hand slapped for trading with Germany(and making a killing)?
They needed a new WW for several reasons, two of which was to give Israel statehood and pass the torch to America (from Britain).
Fear that rattles in men's ears. Money is what humans say it is. Fuk .gov a southerner
Save your Confederate dollars, the South will rise again!!!
YEEEEHAW!!!
Check out the prices of Confederate bank notes on ebay. My great grandaddy was right.
The brothas have been waiting far too long to pummel you Southern toothless inbreds!!! Run for the hills "Bob" !!
Southerner, with a capital S. Thanks.
boxes of Tide have already become a bitcoin-like inner city means of payment. i think all-temperature and unscented are both good shit on the street.
"My thoughts exactly, but there will be a blackmarket created almost instantly. What the ultimate medium of exchange will be is sort of a toss-up."
In God I trust; all others pay at the going rate. I will accept gold, silver, nickel, copper, or platinum, and other rare metals in exchange for bags of weed.
I think the author does not understand the true nature of the problem. In plan B it won't be panic. I will post a seperate post to explain what the whole story is about the banning of cash. There are ten people and resources to feed only nine. What happens to the tenth and why? O’ Humanity, Why are you running and for what? Is anyone on this planet trying to solve this problem? http://just-a-thought-from-thinair.blogspot.com/
We simply eat contestant number 10 and move on, unchanged, for a few more days.
Now we got 9 and only food for 8 after a few days. Entropy is a real bitch. Pleasure tends to drift towards entropy while pain does the opposite.
Seems the best thing to do is hide out of the food chain and try to hibernate until there is only 1 left then make your move.
wrong answer!... it depends .. but the right answer is already in one my posts in the blog..
http://just-a-thought-from-thinair.blogspot.com/
But, thats not the point .. the point is at least you thought about it.
I think the author does not understand the true nature of the problem. In plan B it won't be panic. I will post a seperate post to explain what the whole story is about the banning of cash. There are ten people and resources to feed only nine. What happens to the tenth and why? O’ Humanity, Why are you running and for what? Is anyone on this planet trying to solve this problem? http://just-a-thought-from-thinair.blogspot.com/
I think the author does not understand the true nature of the problem. In plan B it won't be panic. I will post a seperate post to explain what the whole story is about the banning of cash. There are ten people and resources to feed only nine. What happens to the tenth and why? O’ Humanity, Why are you running and for what? Is anyone on this planet trying to solve this problem? http://just-a-thought-from-thinair.blogspot.com/
When the power goes out, retailers shut down. Convenience stores and gas stations close as soon as the power is out, because they can't use ATM's or counter-swipe credit cards.
So, if the credit network goes down, how long will stores stay open on a "cash-only" basis? I'm thinking the teenagers taking your money don't care at all, and will lock the doors. Then you can't spend cash.
When the power goes out, retailers shut down. Convenience stores and gas stations close as soon as the power is out, because they can't use ATM's or counter-swipe credit cards.
So, if the credit network goes down, how long will stores stay open on a "cash-only" basis? I'm thinking the teenagers taking your money don't care at all, and will lock the doors. Then you can't spend cash.
That's why it makes sense to get to know your local Mom & Pop businesses before the Shi'ite hits the fan.
I always enjoy giving present day teenagers something like $21.36 to pay a bill for $16.36 and watching them squirm to figure out the change.
a way of getting a discount, ha...
The best is during a power outage, when they can't rely on a screen to display correct change. Hilarious to watch them hand out large bills just to make you go away.
Good a ban on cash is a ban on debt due in US dollars another words on contractual obligation paid in US dollars will be null and void, carful what you wish for dope.
Early is not the same as wrong. Early means you have time to get ready.
If you're buying gold and silver now - admittedly early - are you wrong? Will you think you were wrong the day after some event?
Exactly. It's too late to buy insurance, when smoke is pouring out of your windows.
I would agree, after-the-fact purchase of 'coverage' is not insurance, but if you look at Obamacare we're headed in that direction since it achieves that very thing. They call it insurance but it's really not.
prepare, house in order, guns loaded, tanks full, cupboards stocked and a form of roving deparados will make for good target practice. a few dead bodies lying here and there might act as a deterant. if not moar fun...remember they are the enemy(within), remorse is the true enemy...
If I hear another idiot use the word "literally" one more time I'm going to stab myself in the face
Literally?
LMAO!
I hope you didn't literally stab yourself in the face :(
figuratively literally
dis-figuratively (his face)
Hopefully you've had a chance to do as you promised. Can you post some pictures so we can gawk?
So you don't know what "hopefully" means either? No wonder you just like to look at the pictures.
Too bad Kurt Vonnegut isn't around now to offer up hus cutting wit to show how absurd we are, and how cruel we can be.
So it goes.
"Welcome to the Monkey House"
Literally or figuratively?
Having weathered a Cat 5 cyclone recently, I can assure you, he means literally. Cash only was the order of the day, for EVERYTHING. Now, that wasn't a collapse of the monetary system, that could never happen, right? No, it was just a power outage for 13 days. All my prepping, paid off and a few valuable lessons of preparing for a freak event (this one was) were learned.
Funny thing was, I learned that even when destruction laid all around and family and friends were nearby, they only wanted my help which I provided liberally with emergency cash, equipment and time but not in one instance was there a reciprocation. I had to clear the debris and fix damaged property on my own, and in the heat and humidity after that storm, I can tell you, at my age it almost dropped me. Not as young as I used to be.
Lessons learned.
I can assure you, he means literally
There are two common ways to misuse the word literally. To say that the ATMs literally won't work is improper because there is no figurative equivalent for which it could be confused. For example, if you lost your wallet near Big Ben you might say that you are "literally looking around the clock," meaning that you are searching in the vicinity of the clock (literal) rather than during continuous, consecutive hours (figurative). But since there is no expression "The ATMs won't work," there is no reason to preface that statement with the word "literally."
The other way to misuse the word is to say "literally" when you mean figuratively. If you say that you are literally searching around the clock when in fact you are searching all over London hour after hour then you have used the word improperly.
Lessons learned.
Your lessons learned are points well taken.
Thanks for the free and usefull lesson. I always appreciate free tuition and remain confused when people give correspondents here a lesson on topics such as on contractions, eg; you're, who's etc. It's not hard and adopting the correct method adds credence to your post.
Posters (usually not the original poster)seem to take offence, labeling the helpful as a grammar Nazi. It's akin to a dolt in class calling someone a nerd for being academically adept, the implication being "Dumb = Clever".
Thanks for your help.
Beers and Cheers.
Sergio.
You're welcome.
It's my experience as well that good advice can be best employed when taken in the spirit in which it's given. And that's not simply good manners. It's my goal to be right as often as possible and so while it might be a little embarrassing to be corrected at times that's a small price to pay for learning how to do something properly the next time.
Your story hits home for me as I do some prepping as well and often with an eye towards helping friends and family. Do you think that your experience would have been better if you had stated up front that you expected assistance in kind when you provided assistance to others? Is tact (though not courtesy) something best cast aside in such circumstances?
ur literrally a pedant
why help the fuckers that are laughing at you (now)? fuck them, lets the wolves chow. besides opening the door will let in way to many flies and you will be the shit(head) that ends up with nothing. fuck freeloaders, even if it is family. in the end only i can take care of i, trust me they will not give one flying fuck about you unless you give it away...
We have a candidate, a possible winner.
I thought that in my family and circle of friends that being there was a given, an unwritten code. Apparently not.
My dad sure wasn't perfect, but he was a stand up guy. If you needed help and he could give it then he would.
I'm a stand up gal myself. Yeah, I will help you pack/move, watch your house/pet/mail, ride to the airport, etc. if we are friends.
Don't know what happened with my older brother...he isn't too dependable, one way street. My younger half brother will lend a hand though.
Did you ask anyone for help? Directly, as in "Hey Bob, I could really use a hand with this clean up. Do you have some time available to help me out?"
Yeah, it would be nice if someone just offered, but maybe easier to cultivate the friends and family you have. Ask, see who will actually come help you...those are the ones to keep helping in return.
Please forward your message to EVERYONE ON EARTH
riterarry
.
The next "crisis" will be one of neccesity. What do you do with thousands of rotting corpses that used to be bankers? Do you light them all on fire? If not, you will need a massive excavator to dig a hole big enough. With a new future comes great responsibility.
Just pile all the banker corpses into a huge hill and call it New Jersey.
I would never desicrate a banker corpse with being involved in new jersey. Bad news is bad for sure but bad news with nj is really bad news.
Dump them on the steps of the admin buildings of the Ivy League schools and let their fathers that created them dispose of them
snap card holders gone wild, ha...
coming to a wally world near ya...
This post evoked the following:
We're Hunting Humans: https://www.youtube.com/watch?v=FTd7DCE-eSs
I'll add the lyrics here for the ZHers that are still on dialup:
Upon this threshold of disaster
The birth of the eleventh plague
The fires burn at night, I begin to doubt the smell of burning flesh
Will ever fade away
The touch of death is all around us
A thousand (bankster) corpses block our way
A man-made germ makes almost everyone commit suicide
Just to rise and eat their dead
Night of the living Dead...
We're hunting humans
We're hunting humans
We're hunting humans
It's killing time every day
I can't control this eerie feeling
An evil screaming in my head
I don't think I'll last the night
There is no cure
For this genocide
Or resurrection of the dead
Night of the living Dead...
We're hunting humans...
@deadfred
exactly. can't understand the downvotes.
This is hypothesis nothing more.
Not everybody is comfortable thinking about stuff they haven't thought about. It hurts their skulls.
I've been reading articles like this and and thinking about this stuff for 7 years. I repeat, it is hypothesis, nothing more.
until the glue delams...
wheels come off da wagon. who is pulling the wagon, again, who? the fed printing money, got cha... hypothesis say soon, 300 percent of gdp and math say moar hypothesis, but the numbers don't add, oh we can bundle our mortgage til the end of the year, ha, 6 payments in one lump sum. hey call your mortgage company and prpose that, ha, fucking right...
the immediate deflation panic will be quickly remedied with helicopter printing. up to now one of the major reasons a direct to-the-people printing was shunned was to keep the velocity of money down to avoid hyperinflation. but once a major deflation hits, the fed will have no choice.
the immediate deflation is much like the extreme low tide the author first describes. then, comes the inevitable tsunami of paper.
don't know about you, but I am playing the long game. I'll leave it to the unprepared to get pushed around in the short game.
This fall if not sooner.
"Costs." Drink.
Dont sweat it GM will be fine.
Cashless?
Hard to believe,
Prolly gonna happen.
we will be a cashless society the day after we are a gun free society.
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Logged in just in case my IP address alone is insufficient for the NSA to keep me safe.