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/biz/ - Business & Finance


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51673578 No.51673578 [Reply] [Original]

It's actually fucking over. Why isn't this being reported? It's literally 2008 all over again but on steroids

>> No.51673594

>>51673578
This rally will fail like the others

>> No.51673609

I would argue that this is a post-steroidal market reaction. we are in the shrunken testicle stage.

>> No.51673628

Mean reversion is a bitch and nobody ever sees the whipsaw coming after a decade long trend.

>> No.51673629

>>51673578
Why isn't it being reported? Between covid lockdowns, elites pushing for war, food and fuel prices, household bills increases, men getting drafted and peoples grandparents being genocided by a flu vaccine I think people are fleeing the West in droves and the more they report it the worse it will get.

>> No.51673664

>>51673578
It’s fake to make idiots panic sell.

>> No.51673679

>>51673578
Because everyone is retarded. Get that through your head and start front-running everyone so you can become rich.

>> No.51673699

>>51673679
>start front-running everyone

What do you mean?

>> No.51673710

>>51673629
This.
>ignore reality goyim focus on january 6th stop the steal parades instead & look at what shillary clinton is doing!! LE ORANGE MAN BAD

>> No.51673726

>>51673578
I don't get it

>> No.51673778
File: 235 KB, 1080x1080, download.jpg [View same] [iqdb] [saucenao] [google]
51673778

>>51673578
everything is fine, man.
this is disinformation by white supremists and right wring extremists.

>> No.51673790

>>51673726
Let’s put it this way, do you know what 4% of 31 trillion is? Do you think the US government can make these interest payments indefinitely?

>> No.51673792

>>51673778
wring = wing

>> No.51673814

>>51673790
>Do you think the US government can make these interest payments indefinitely?
They'll just print more money.

>> No.51673820

>>51673790
Thankfully Biden is too busy showering Zelensky with that kind of money instead of helping our own country out

>> No.51673827

>>51673820
this post is anti-semitic.
delete it now!

>> No.51674561

>>51673814
That’s called monetising the debt which is what weimar germany did right before its hyper inflation

>> No.51674583

>>51673594
kek

>> No.51674647

No one cares.

We live in an age where women make more money selling their own farts in jars than surgeons do.

What makes you actually think of this 'muh yield curve' means anything to the majority of the planet?

The only thing happening is the excess fat in the financial system is being trimmed and investors are getting heemed.

Think of the positives..

- Tech retard zoomer jobs GONE
- influencer youtube/social media are already getting reemed by having their pay dramatically reduced (back to the wage cage fuckheads). Many of them won't make the cut anymore.
- raj and the boys in new Delhi striving off bsc rugs - DEAD face down in the Ganges
- Bulgarians crypto lending scams - GONE

We're entering a new era where you need to be very lucky with your investment picks or have a stable job to survive the next 2-3 years.

Drought in the Northern hemisphere along with many of the harsh storms should cut the food supply dramatically and wipe out a few million people too.

>> No.51674713

>>51674561
German mark wasn't a reserve currency. It also wasn't needed to purchase oil from OPEC countries. And it wasn't backed by the world's most dominant military that owns all the skies and seas and everything between.

US dollar is literally too big to fail in our lifetimes because there are no credible alternatives.

>> No.51674775

>>51674647
incredibly based

>> No.51674852

>>51673699
frontrunning ,generally,is when you trade before someone else

>> No.51674924

>>51674647
Based.

>> No.51674940

>>51674647
>a few billion people too
fixed that for you

>> No.51675000
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51675000

>>51673578
>It's literally 2008 all over again
Bond yields tanked in 2008.

Bond yields yields going up aren't simply an indicator of a market crash, often it's the exact opposite. That's because bond yields are also a sign of faith in the government.

>> No.51675008
File: 2.18 MB, 4032x3024, IMG-1342.jpg [View same] [iqdb] [saucenao] [google]
51675008

it's impossible for US govt to default, literally impossible, fed is always available as the lender of last resort, demand of dollar will always exist as global reserve currency
when you heard of sovereign defaults, they're defaulting on their USD denominated external debts, they never default against their own central banks in their own currency
that being said, US will 'default' near the end of this decade, this US deliberate 'default' is so that USD as global reserve currency be replaced by near instant settlement one world cryptocurrency

>> No.51675029

>>51674713
>no credible alternatives

Gold and silver backed ruble/yuan has entered the chat

>> No.51675042

>>51673827
>anti-semitic
Ukrainians are Catholics...

>> No.51675054

>>51675000
>Bond yields yields going up aren't simply an indicator of a market crash, often it's the exact opposite. That's because bond yields are also a sign of faith in the government.
Bond yields go up when there's less demand for bonds you complete retard

>> No.51675076

>>51675042
They're orthodox you mutt abomination

>> No.51675111
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51675111

this rising rates will force other countries to default on their USD denominated external debts
IMF will come as a rescuer to bailout these countries, IMF is the international arms of US for the purpose of economic conquest, that's why they're headquartered in Washington
you've heard the term zombie companies, soon this practice of sustaining a non-productive entity will be extended into countries, zombie countries
the purpose of IMF is to centralise control to central banks and the central banks will be under control of IMF, they'll implement CBDC which is money with surveilled transaction
once all countries have implemented CBDC, US will default and BIS will announce one world cryptocurrency to connect all these CBDCs, economy will recover and we enter dystopian timeline

>> No.51675131

>>51675076
Yeah Orthodox Catholics, of course I know that, my Godmother married a Ukrainian. I was just calling them just Catholics makes it easier to say that they're not Jews so the comment about it being anti-Semitic wouldn't really work.

>> No.51675161

>>51673790
sorry for the idiotic question, but even if things stay as bad as they are now, wouldn't this problem only become real in 10 years when yields have to be paid?

>> No.51675177
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51675177

>>51675008
>The dollar will always exist as the reserve currency
Kys amerilard

>> No.51675293

>>51674647
>things will not get worse and go back to normal
if only we could get that lucky

>> No.51675318

>>51675161
>Just 10 more years

>> No.51675324
File: 871 KB, 2218x2574, IMG-1324.jpg [View same] [iqdb] [saucenao] [google]
51675324

>>51675111
the purpose of globalisation is so that countries dependent on international trade, international trades mean you're dependent on the dollar
during the coming currency / sovereign debt crisis, unless country wants their citizens to starve to death they must take the loan offer from IMF, but to take the offer they must handover control to the IMF
it's fucking genius if you think about it

>> No.51675434

>>51673790
>"How will they possibly make interest payments!"
>Can literally print money and will never default ever by definition
???

>> No.51675508
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51675508

>>51675324
the more a country is indebted in USD the higher the demand for dollar, when you heard trillions dollar exist, they exist as USD denominated debt held by countries as reserves, this trillions of dollars never compete for your meat and eggs on the supermarket, please stop being petty and simple minded
hyperinflation is impossible with USD
the bigger the debt the bigger the interest, since there's always less USD than the total debt, then USD is always, ALWAYS be in demand

>> No.51675566

>>51675111
>you've heard the term zombie companies, soon this practice of sustaining a non-productive entity will be extended into countries, zombie countries
We already have that. See Greece.

>> No.51675570

>>51674647
I know that to dunning kruger midwits like you terms like "yield curve" are just memes and you don't really understand what they mean anon, but I can assure you they actually mean something and lie at the root at what you have been ranting about

>> No.51675577

>>51673790
>>51675161
yes
it's not an instant threat, yields of previous loans are locked in, this only applies to newly issued or renewed interest payments
of course as time passes, those interest payments get exponentially worse

>> No.51675605

>>51675161
Something like 4 or 5 trillion in bonds mature every year and will be rolled over to the new yields.

>> No.51675619

>>51675324
unless countries start ditching the dollar out of desperation like they're doing it now
global economy and the financial system cannot tolerate a strong dollar for a sustained period of time, remember the Plaza Accord

>> No.51675642

>>51675434
Intentionally destroying faith in your bonds and currency in a totally faith based system is a very bad idea.

>> No.51675650

>>51674647
Based and blue-collar pilled.

>> No.51675999
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51675999

>>51675577
thank you, i became slightly less retarded today

>> No.51676069

>>51675029
Boomer rocks nobody cares about anymore (we have broken the faggot mineral conditioning), with nothing backing them, and which will never be used again. Fucking OSRS gp and Bitcoin are better alternatives than precious metals lol.

>> No.51676278

>>51673790
You're a moron. 4% doesn't apply to existing debt.

>> No.51676370

>>51673578
Can someone explain to me how these work exactly?

Who buys these? Like billionare investors? How does this even work, and what is the big deal of 4%?

I remember having a dream where I met a broker at a bar and he was telling me how he was depressed because the current Yield Bonds or something were going to mature and that the government especially california was going to default and the country + the state would be owned by a few very wealthy investors.

Is that the idea?

>> No.51676465

>>51676370
Once again, the United States Government can NEVER default. THEY LITERALLY PRINT THE MONEY THEIR DEBTS ARE DENOMINATED IN. People need to understand that you, as a citizen or business owner, USE currency, but the Government PRINTS IT. For you to pay debts or buy things, you need to obtain money first, and then spend or pay it. The Government has no such restriction, it can simply print money into existence whenever it needs to, and collect taxes later to offset the negative effects of printing new money. So, NO, Uncle Sam is not going to default, and never will as long as those debts are in USD, the sovereign, fiat currency of the US Government.

>> No.51676486

Look on the bright side. It can't possibly get any worse

>> No.51676496

>>51673594
I agree, buying bonds now. The Fed will pivot soon.

>> No.51676503

>>51676465
Who are they paying back? Warren Buffet? Bill Gates? Who the fuck are they in debt to? Also, if they can just print the money what's the point of the federal reserve isn't that seperate? I feel like you are going to yell at me and call me an idiot but what the fuck are you saying.

>> No.51676504

>>51674647
>influencer youtube/social media are already getting reemed by having their pay dramatically reduced (back to the wage cage fuckheads). Many of them won't make the cut anymore

Fucking BASED

>> No.51676521

>>51675076
About 10% are Eastern Rite Catholics.
>>51675042
Zelensky and his prime minister are jews

>> No.51676534

>>51676503
the Jews of course

>> No.51676538

>>51673578
A nothingburger, the Fed will start yield curve control soon

>> No.51676547

>>51675008
Stop posting your gay jewelery here
You're acting like a woman lmao

>> No.51676624

>>51675161
>>51675577
No because your government sold a lot of short running treasuries because the interests were so low in the past. Something like 5 trillion $ alone will be due alone next year. They will have to sell then new treasuries to refinance the debt at much higher rates.

>> No.51677968

>>51676624
well the effect appears on short term bonds faster ofc, it's just a question of how much of the total debt is shorter term bonds

>> No.51678050
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51678050

>>51675570
shut the FUCK up that post is unbelievably based and true just….just because ok!!!

>> No.51678084

>>51673790
according to that pic it used to be 10% - 15%
so, yes? retard

>> No.51678185

>>51678084
Wow, I didn't know America had 31 trillion dollars of debt which needed to be serviced back in 1987. You're a real smarty pants. I have to admit, you're too smart for this website, I am in awe of your genius.

>> No.51678200

>>51673578
But it's going to the moon?

>> No.51678229

>>51673578
What's the downside? I'm getting huge interest rates on all the cash from the stocks I sold in january.

>> No.51678285

>>51674647
someone seething that they never learned to code kek

>> No.51678298

>>51675570
he really is a midwit, proof in the responses of braindead subhumans

>> No.51678602

>>51675177
> Made up chart
Lol, lmao even

>> No.51678608

>>51674647
Neat.

>> No.51678646

>>51673790
Do you actually think it matters?

>> No.51678766

>>51678646
Yes, why do you think the bank of england is instituting qe again even though their currency is losing value rapidly and inflation is hot?

>> No.51678785

>>51673578
priced in

>> No.51679093

>>51677968
5 trillion next year will be due

>> No.51680005
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51680005

>>51673578

Let the average moron in the street believe a little longer, they've provided valuable liquidity to people like me who have gotten out early.

>> No.51680085

>>51674647
nice r*ddit spacing faggot

>> No.51680182
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51680182

>>51673578

>> No.51681208

>>51676069
keep in mind opec countries are now switching off the petro dollar and allowing countries to buy with rubles and yuan. plus the dollar use to be over 70% of all resreve currency now it has dropped to 50%. Also people keep forgetting the dollar is backed by onw more thing its military and right now that is being proven to be ineffective and weak.

>> No.51681326
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51681326

>>51678084

>> No.51681579

>>51675324
They played the world like a fucking piano. Gotta give them that. What timeframe would you give it until completion, rolexbro?

>> No.51681663

>>51673629
Because if they openly acknowledge that things are as bad as they actually are, it will cause people to make decisions that naturally follow from those conclusions. The average person is dumb as fuck and remains ignorant to even large happenings around the globe. If they were fully aware of the problems that were coming, they'd be spending even less on frivolous bullshit and they might start listening to all the people who insist that voting for the other team will save them from all the consequences of what the current team did.

Keeping people stupid about how fucked we are is the only way they keep the consequences from catching up.

>> No.51684126

>>51674647
just two more weeks right?

>>51675008
I'm convinced there's nobody here actually posting their watches, and this has now basically become a copypasta in the form of an image

>> No.51684155

>>51681579
before you take advice from someone who's so desperately autistic/insecure to constantly post financed watches on an anime forum, I'll answer the question and tell you two weeks, approximately

>> No.51684239

>>51675434
That’s exactly the point where this situation becomes tricky. They need to raise rates to get inflation under control, but they can’t raise them too far, too fast or for too long, without having to resort to turning the printer back on. Which in turn, will continue to worsen inflation. This shit will get really interesting over the next 6-12 months.

>> No.51684312

>>51673578
Because it's 1929.

>> No.51684490

Do the treasury bonds pay 4% every 6 months for 10 years or is it 4% total at the end of the 10 years?

>> No.51684525

>>51673578
I will be more than happy for a chance to buy essentially risk-free bonds in the 8-15% range.

>> No.51684649

>>51676370
Everyone buys these indirectly even if you don't know about it. Pension funds, retirement funds, insurance reserves, life insurance reserves, money market funds, etc. Yeah usually only the rich buy them directly although anyone can buy them either from banks or directly from the treasury website.

I have $10K of the TIPS bonds myself.

>> No.51684829

>>51675042
>>51675131
congrats on being this retarded

>> No.51684906

>>51675161
Coupon payments are made either once or twice per year depending on bond type. In the case of 10 years payments are made to the holder every 6 months.

>> No.51684917

>>51673679
Too late, big boys pulled out months ago. You are holding bags.

>> No.51685155

>>51676278
Average US debt maturity is about 5 years though. So they can't keep it up for more than about 2 years. If they were smart, they would have shifted all the debt to longer maturities before they started raising rates but they are dumb.

>> No.51686427

>>51673820
It is helping our country out though you fucking retard.

>> No.51686447
File: 69 KB, 721x617, Screenshot 2022-01-20 200322.jpg [View same] [iqdb] [saucenao] [google]
51686447

>>51675008
my metal is worth more than your metal
Also you live in a 3rd world shithole lol

>> No.51687225

>>51686427
How?

>> No.51687322

>>51673578
>It's literally 2008 all over again but on steroids

How so?

>> No.51687482

>>51673578
(((they))) don't want you to know

>> No.51687621

>>51674647
>What makes you actually think of this 'muh yield curve' means anything to the majority of the planet?
hahahaha, no sympathy for midwits like this when you get JUSTed

>> No.51689827

>>51675111
is there a chainlink plug in here somewhere

>> No.51690071

>>51676465
No, the federal reserve does that. Theoretically the federal reserve can bancrupt the Us government.

>> No.51690112

>>51681208
Proven? Come and try it faggot.

>> No.51690131

>>51673814
You're getting it soon
US gov does not print money
They can only borrow

>> No.51690203

>>51686427
you mean your home country Israel? or the USA?

>> No.51690295

>>51684239
Do people even understand that you cannot lower inflation?
Theres a reason that 50c snickers bar costs 2 dollars now. And no its not going back down.
In ten years from now this candy bar will cost 4 dollars.
Theres a reason homes used to cost roughly 30k and now they cost 300k, and no they will never go back down to 30k. In ten years from now houses will be 600k.
The Federal Reserves inflation creating printer and Keynesian economics all lead to the same result...

>> No.51691292

>>51676503
Anyone who invests in government bonds are the people the government owes money. Which is also retarded, consider this, you are on a boat, and the boat is taking on water. You begin bailing water into buckets, but instead of dumping the water overboard and back into the sea, you simply set the buckets aside, so they don't spill all over the deck, but they still sit on the deck. Also, you begin filling the buckets up with extra water from the sea, after all you have to reward that water for not sloshing around on the deck. After a certain amount of time, you dump those buckets back into your boat too though. That's what government bonds are. They are a way for people to lock up money on the side lines to try and get rid of some of the money in the money supply, but at the end of the term, the money is set loose into the money supply with extra interest! It's a retarded way to control inflation, especially since the government can instead simply raise taxes and, to continue the metaphor, forcibly dump water off the boat without it coming back. Now, you can also address the hole in the boat, which is overspending, but that's a separate conversation. Also, the Fed is run by a board of governors who are appointed by the President, so separate but not really, kind of like the Supreme Court.

>> No.51691398

>>51690071
I mean, I suppose they technically have that power, but if congress request funds from the Fed, and they said "No", my understanding is the president could just replace them with someone who would say yes. Supposedly they can't be fired in the middle of their term, but the legal ramifications would be interesting, since the Fed's mandate is to serve the public and I doubt any judge would agree that bankrupting the government is in the public's best interest (even if some posters here might think it is).

>> No.51691480

>>51691292
>are the people the government owes money.

Doing business with the government at this time isn't what i tag so profitable considering the returns and also the fact that you have better options.

>> No.51691644

>>51691480
>Doing business with the government at this time isn't what i tag so profitable

This is the main reason behind the collapse of the pounds, investors no longer trust the government hence pulling from borrowing the government funds.

>> No.51691785

>>51691644
I would rather buy assets like gold or infact start a vc and invest in new startups other than just pour out my money for a clueless government.

>> No.51691942
File: 3.28 MB, 500x300, D7C7AF10-C185-449D-AE04-360EE8526BF3.gif [View same] [iqdb] [saucenao] [google]
51691942

>>51674713
>Saudi Arabia has left the chat

>> No.51692053

>>51675008
Stupid faggot it never was and never will be XRP. These are central bankers we are talking about here.

>> No.51692074

>>51691785
>infact start a vc and invest in new startups
Doesn't strike me as any different opinion considering you can't vouch for how your assets will be managed by the VC.

>> No.51692224

>>51692074
That's where MilestoneBased come in.

>> No.51692376

>>51685155
They could sell very long Treasurys at low rates only because they weren’t selling so many of them. It’s hard to convince people to place a decades long bet on the USA.

>> No.51693480

>>51673790
Only $400 Billion per year right now is on interest. 95% of government debt is fixed rate.
This is actually why it's in their interest to keep raising rates and keep them high. The extra interest they pay on them will be a drop in the bucket compared to inflows.
As bonds become the only profitable investment, investors will flock there.

>> No.51695809

>>51673629
>not being reported
>vatican getting all its assets out of the banking system by the end of the month
hmm..

>> No.51695832

Why can't the gov just buy it's own debt, and with the interest they make on the investment just pay off the rest of it? Am I missing something?

>> No.51697094

>>51674713
US is being phased out. Their political strategy is unsustainable. Their military strategy is unsustainable. Their monetary policy is unsustainable. Yet they are doubling down with all three.

Short USD

>> No.51697386

>>51695832
powerboard_with_extension_cable_plugged_into_itself.png

>> No.51698530

>>51684155
You added nothing of value

>> No.51698744

>>51690071
Didn't the treasury under Trump obtain the Fed's US debt holding(s) somehow? I remember reading about it but didn't grasp all the details

>> No.51698778

>>51675161
Jesus christ the average IQ on this board.
These coupons are paid every single year, only the duration changes, do you fucking mongoloids think you get 4% returns after 10 years? This board is so devoid of insight and intellect, its insane.

>> No.51698787

>>51673790
Well we give Israel 104.20 dollars per second so maybe we could start trimming the fat there??

>> No.51698803

>>51674647
I love you in a gaye way

>> No.51698906

>>51686447
Unequivocally based.

>> No.51698912

>>51690112
No you got it backwards, youre military is the faggot, not the rest of world. Your military is literally full of faggots and niggers lol....lmfao even!!!!!

>> No.51698914

>>51675324
Mm is that you??

>> No.51699572

>>51673820
Biden isn’t in charge of Jack Shit. Biden didn’t win Jack Shit. That dirty old Pedo crook ain’t Jack Shit.

>> No.51699604
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51699604

>>51674647
Best news I have read all day. Anything to get traffic moving again, amiright? Amiright?

>> No.51699622

>>51675000
Or a case of “nowhere else left to hide”.

>> No.51699646

>>51675054
Are they are being dumped into the market by foreign banks/nations en masse.

>> No.51699654

>>51673664
classic rich get richer

>> No.51699661

>>51674647
Anons like you are idiots. Literal cuckold. (((They))) own all the debt and the economic crash you are suggesting should happen benefits (((them))) more than anyone. Retards around here kiss the feet and obey the ones that whip them. It's disgusting.

>> No.51699669

>>51673629
>Fleeing the west in droves
Where do you suppose the supposed vast majority are fleeing to? The global south? Russia? China?

Just curious what you mean by this and if you have anything backing it up

>> No.51699720

>>51676465
Oh, so now the Fed, the issuer of the debt note, is part of the government? Wrong. It is a private corporation with its own owners and board members. It is they who will end up owning America; in fact, already do since the Act of Washington D.C. in 1871 when the Republic became a Corporation. Let. It. All. Burn.

>> No.51699748

>>51676496
What part of the Great Reset do you morons not understand? You will own nothing. If you invest on the premise that the BIS and IMF and World Bank want to destroy your wealth, you may come out ahead. If you think there will be some pivot to normalcy, your delusional.

>> No.51699797
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51699797

>>51674647
this is what cock envy does to a MF

theres nothing wrong with anything you posted but its obvious you are extremelly jealous of all these people making money kek

>> No.51699827

>>51684917
The big boys pulled out when the Fed Presidents banned themselves from trading stocks. What great guys! Perfect excuse as they dump the economy.

>> No.51699969

>>51691292
Well said. Kicking an ever bigger and heavier can down the road plus, it depends on an ever expanding population to keep kicking as well. You can have Keynesian Economics and a WEF Depopulation scenario running at the same time without collapse.

Remember, the core principles of the NWO are:
One world religion
One world government
One world currency

Collapse is required to usher in these foundational systems. They will make sure people are desperate for any form of stability so they will gladly accept any order/structure provided. Beats starving and getting raped or murdered.

>> No.51700022

>>51693480
Bingo. A forced bail in.

>> No.51700065

>>51675000
Bond yields are going up because we were at basically zero since 2008. Only a brief period in 2018 did we actually have any interest. Interest rates in the 90's were the last time they were even close to what normal should be. If I was the Fed chair, I would set rates at 4.5% permanently and only print more money as the population goes up.

>> No.51702348

>>51673699
being first

>> No.51702517
File: 113 KB, 990x990, 1643343808109.jpg [View same] [iqdb] [saucenao] [google]
51702517

>ctrl f "jews"
>3 matches

>> No.51703162

>>51674647
Rugs are now made in china. Their broken English is easily identifiable

>> No.51704194

>>51675324
>>51675508
economic hitmen 101

>> No.51706416

>>51699720
The board of the Fed is appointed by the President of the USA. They are separate to the same degree the Supreme Court is.

>> No.51706689

>>51674647
You don't understand how this works. If the US reaches the breaking point and the dollar collapses, the entire western world will be ruined. Banks across the world use SWIFT and are dependent on the dollar. You would only be safe if you(or enough fiat) are in China/Russia/India.

Holding USD cash? Gone
Any money in the bank? Gone
Any money in a savings account? Gone
Any money in stocks? Gone
Holding crypto? might be safe, if companies accept it during the following worldwide recession
Holding gold? probably fine
Dependent on your job? Hopefully you keep it during the recession that follows the collapse of the dollar.
>But I'm blue collar!
Look up what happened to blue collar jobs during the Great Recession. Maybe you'll be ok.

>> No.51708471

>>51675434
>retards dont understand that every time a US dollar is printed, the US government goes in debt to the federal reserve for 1 dollar with interest that is only payable in us dollars.

So if they give the US gov 10 dollars with 10% interest, the US wont have enough to pay the 11 dollars, because it only has 10. The US gov gives treasury notes to the fed as collateral. The us gov is enslaved in debt forever to the fed.

>> No.51708545

>>51673814
The federal reserve is set up in a way so that every dollar created is a dollar added to the national debt. The treasury makes interest payments to the fed for created money in the form of USD, with treasury notes held as collateral.

>> No.51708587

>>51674647
Pajeets and nips are the ones that pay for farts on jars. God I hope this economic collapse removes them for good.