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It looks like the dogs of war are baying louder now. Ray Dalio tipping a civil war at home in the land of the free (that term is certainly out of date), and Biden wanting a war on someone elses soil (same ol game!),
The doves of peace are fluttering...As organizations representing millions of people in the United States, we call upon President Biden to end the U.S. role in escalating the extremely dangerous tensions with Russia over Ukraine. It is gravely irresponsible for the president to participate in brinkmanship between two nations that possess 90 percent of the world’s nuclear weapons,” declared groups such as Peace Action, Physicians for Social Responsibility, Pax Christi USA, the Fellowship of Reconciliation, Just Foreign Policy, CODEPINK, Roots Action, and Veterans for Peace.
“For the United States and Russia, the only sane course of action now is a commitment to genuine diplomacy with serious negotiations, not military escalation—which could easily spiral out of control to the point of pushing the world to the precipice of nuclear war.”
I have always thought that those who start war, should be on the front line. Imagine Joe Biden and Boris on the front line...
Lets hope sanity and diplomacy win the day/weeks/years
best
the gnome
Just as the dogs are barking, National US debt tops $30 TRILLION... what a time to start a war?
WASHINGTON—The U.S. national debt exceeded $30 trillion for the first time, reflecting increased federal borrowing during the coronavirus pandemic.
Total public debt outstanding was $30.01 trillion as of Jan. 31, according to Treasury Department data released Tuesday. That was a nearly $7 trillion increase from late January 2020, just before the pandemic hit the U.S. economy.
The total debt comprises debt held by the public and intragovernmental debt.
The debt milestone comes at a time of transition for U.S. fiscal and monetary policy, which will likely have implications for the broader economy. Many of the federal pandemic aid programs authorized by Congress have expired, leaving Americans with less financial assistance than earlier in the pandemic.
Meanwhile, the Federal Reserve has signaled it could soon begin to raise short-term interest rates from near zero in an effort to curb inflation, which is at its highest level in nearly four decades.
“This is a jaw-dropping number that is a real cause for concern,” said Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget. “It is the result of both borrowing for really important crises, most notably the Covid pandemic, but also trillions and trillions of borrowing for no reason other than politicians have stopped being willing to pay the bills.”
good luck to us all
the gnome
The Credit Market Funnel
Suppose the U.S. Treasury prints $10 billion in new bills, and the Federal Reserve credits an additional $90 billion in readily liquefiable accounts. At first, it might seem like the economy just received a monetary influx of $100 billion, but that is only a very small percentage of the actual money creation.
This is because of the role of banks and other lending institutions that receive new money. Nearly all of that extra $100 billion enters banking reserves. Banks don't just sit on all of that money, even though the Fed now pays them 0.25% interest to just park the money with the Fed Bank.
? Most of it is loaned out to governments, businesses, and private individuals.
The credit markets have become a funnel for money distribution. However, in a fractional reserve banking system, new loans actually create even more new money. With a legally required reserve ratio of 10%, the new $100 billion in bank reserves could potentially result in a nominal monetary increase of $1 trillion...
and so on, and so forth
How does one determine the value of $1 ... by what it buys in the market place you want to transact in ... and for sure you can buy less and less each day with your $1 .. you can BANK on that...
So the impact for gold pricing? my bet is your $1 will buy less and less gold ...like everything else....
the gnome
Sorry, I should not be talking in billions, we are now in the world of trillions !
https://tradingeconomics.com/united-states/government-debt
The United States Left Afghanistan to Prepare for a War It Will Probably Never Fight
https://warontherocks.com/2021/10/the-united-states-left-afghanistan-to-prepare-for-a-war-it-will-probably-never-fight/
Why do we keep doing this? How can we stop?
We get into these wars on the recommendations of presidents who are influenced by their staffs, most of whom are selected by the president and share the president’s viewpoint!
We often hear about fighting to defend “American interests.” There are a host of American interests ranging from protecting American citizens abroad to protecting American trade and markets. If we’re being honest most U.S. foreign policy focuses on the latter. There is nothing wrong with this. They are American interests!
https://time.com/6092818/iraq-afghanistan-unnecessary-wars/