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Re: This Is BAD... How it Will Unfold. 

By: Fiz in 6TH POPE | Recommend this post (1)
Sun, 25 Dec 22 5:20 PM | 29 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 38577 of 58636
(This msg. is a reply to 38572 by Decomposed)
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Very daring conjecture! Mostly I read very shallow conjectures (which reduce to "buy gold" or "go bitcoin" or "buy storage food!") which aren't particularly valuable in planning practical escape/buffer measures.

It doesn't even require a new LAW to make owning gold in the US a felony again! The old law (Trading with the Enemy Act from WW1 + FDR's Executive Order declaring an economic "war") are still on the books. I understand they were only TEMPORARILY suspended, BY EXECUTIVE ORDER, after Nixon closed the gold window (and nationalized gold held by the US government under Bretton Woods). [Note, I haven't researched this, but read about it in passing].

Therefore, all it should take to force anyone holding gold to turn it into the government is a simple Executive Order rescinding the previous Executive Order. It can be done in five minutes.

So, I recommend other measures. I've already mentioned skill or product which can be bartered. Food wouldn't be bad. A distillery would probably be better. I also recommend "practicing" collapse in advance. Turn off your electricity and gas utilities and see how long you can tolerate no light, no running water, no driving to the store for food or other essentials. Or vacation to the Alaskan wilderness for a few weeks and see if you can stay alive (I recommend summer).

I know you don't believe it; it is hard to believe. So was Ukraine after Covid. But I still suggest you “practice” a bit. Consider it a test. And maybe modify a few things while you still can. If the last few years should have taught you anything, it is that the government is a hyperactive gorilla with a mean streak.

The “Gorilla” is NOT your friend!


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The above is a reply to the following message:
Re: This Is BAD... How it Will Unfold.
By: Decomposed in 6TH POPE
Sun, 25 Dec 22 6:28 AM 		Msg. 38572 of 58636

When West Germany merged with East Germany, it created a fiscal problem. The two countries used different currencies which needed to be merged to unify the country. While the West German mark was very strong, the East German mark was a severely debased Communist catastrophe. East Germany had a strong underground economy consisting mostly of barter, and some East Germans had therefore not bothered to spend their official but trivial wages in decades.

The way that Germany merged the two currencies was to create a New Mark and to give everyone a year to buy New Marks with their old ones AT PARITY. In other words, 1 to 1. The East German monies many had deemed too worthless to be worth spending were suddenly just as good as the formerly valuable West's.

This was terribly unfair, of course. West German families lost fortunes. Some East Germans were suddenly rich beyond their wildest dreams simply because they'd kept millions in crappy money others didn't want.

Germany's experience mirrors what I think will happen in the United States. Oh, not exactly... there is no "strong" currency here, not anymore. But there will be a "new" dollar, and Americans will be given a short time in which to exchange their old dollars for the new ones. After that, the old dollar will be useless. Nobody will want it. When the announcement is made, vast quantities of dollars held abroad will be repatriated, so massive price inflation will result for those who were reluctant to do the exchange or who were thinking of spending it instead of exchanging it.

I think the new dollar will be a digital currency completely under Federal Reserve control. That will facilitate what happens next:

Soon after the currency exchange deadline (mimicking what FDR did after the deadline he gave Americans to sell back their physical gold), the government will deem it unfair for some Americans to have "more than they need" while others do not have enough. It will dictate that government services are for the "general welfare" and must be preserved. It will dole out lots of "free stuff" but put everyone onto a tight budget... possibly even the same budget regardless of their jobs or how much of the new currency they supposedly own. Effectively, it will assume ownership of Americans' individual wealth. I don't know what will be done to foreigners who swapped old dollars for new. My guess is that they will get screwed, receiving nothing for the currency they returned except digital New Dollars that they aren't allowed to spend.

That's how I see this unfolding, and it will happen BEFORE the actual dollar failure.

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