precious metal backed multisig protected crypto is one of my projects for next year
fiat world depression is unfortunately inevitable. USD devaluation will affect all major currencies except CNY and maybe ruble as they are making for non-USD denominations in their major dealings. Also China is like one dozen Japans all in an internal economy with only one of them outward facing. China will do just fine in a global depression, in fact they will be the ones to benefit the most. I have most my fiat in CNY for this reason, not that I have much fiat at all
Will USA have the political will to sell of 10 trillion USD worth of its assets? I think this would be the vast amounts of land it has. GrandCanyon to Disney, etc. this I think is not so politically possible. So the easier way is to just do the "takings". They have already started this some years ago to set the precedent that if a piece of land is better serving the public, then it should be owned by the public and thus the private ownership is stripped. Now maybe some token amount is paid, not sure of details.
to me this is the setting up of this precious precedent. So, now when USA is running out of money, it is of course to use this precedent of takings that is now many years standing as the base to start applying eminent domain to more than just land. Imagine if the politicos change the law for eminent domain to allow takings for "land or any other asset" or some such general language.
Then using this new law and the precedents of the hundreds of takings (I think these are starting in small ways to minimize the complaints, but now bolder and bolder) how long before all of USA people's assets are at risk? The massive taxation is not enough to feed the USA govt appetite, it needs to obtain trillions of USD to keep its current size. Will it do the right thing for its people, or the easy thing for its politicos?
Now this expansion of eminent domain I dont think has happened yet, but I am not up to date on all the insane laws of USA, so maybe it is already started? If you are having any amount of wealth and in USA, I advise to get most of it offshore if you can. I heard they are "cracking down" on such things since of course USA citizens should not have any right to move their money outside USA, they must be protected from all the bad things that can happen.
In Argentina this has happened and it made things go from bad to worse and USA is following in their footsteps!
Maybe Argentina's football team is not making the best showing, USA is learning from Argentina how to properly destroy the economy fast as possible.
James
Wow, I am hoping that you are far better at projecting "coin" futures" than you are prognosticating on the U.S. and world economies.
First of all, China and Russia will not be better off, as every dime of their economies relies on selling to the outside world. But, being totalitarian states, there is a good chance that the people will starve and the Communists at the top continue to live fairly well (as usual). Is that what you mean by better off? In that case, yes, there is a small possibility that the brutal dictators at the top do ok.
You have this idea in your head that the U.S. uses eminent domain in some sort of regular fashion. I believe that the one case you are talking about was a town from 15 years ago. That was outrageous and made the news nearly every night. To imply that Americans would simply let the government sell off all of their land is preposterous. There is no dictatorship here yet (that is China and Russia, you must be thinking of). Furthermore, why would America be selling anything? If the currency goes, then there is nothing to pay back. The bond holders would be out of luck (hello China!) and the economy would collapse, but the dollar would be worthless. The far easier way to go is simply default and start a new currency. Your way would require a war with its own people only to sell off all of the land that the people live on. An odd way to go about things.
Look, I loathe Obama and every leftist on the planet for that matter, but let's not pretend things are different than they are If the U.S. goes, the world goes. That might not be true 30 or 40 years from now, but it is true today.
I apologize for my mistake
http://www.cbsnews.com/news/eminent-domain-being-abused/http://en.wikipedia.org/wiki/Eminent_domainhttp://books.google.com.ec/books?id=7U2pK0Y69oQC&pg=PA167&lpg=PA167&dq=%22eminent+domain%22+number+of+takings&source=bl&ots=uGhJIudzYU&sig=A0zXc3W-Xy2uQx55j2yo6ZatAMo&hl=en&sa=X&ei=vGcHVOeJJ8uxggTOg4GgAQ&ved=0COUBEOgBMB8#v=onepage&q=%22eminent%20domain%22%20number%20of%20takings&f=falseabove is long URL, but it says 744 takings per year. and takings are for any assets now
"2005: Kelo v. City of New London
Despite the reversal of Poletown and Michigan’s rejection of the rationale that pure economic development constitutes a public use, the U.S. Supreme Court ruled in 2005 that private property may be seized for private commercial development, based on the possibility of increased tax revenue or jobs. In Kelo v. City of New London, Susette Kelo and a six other homeowners in New London, Connecticut, had their property taken through eminent domain for private economic development projects. The City didn’t even declare their properties “slum” or “blighted”—their sole rationale was that someone else could make more money off of their land than the current owners could."
Should I find some more examples of this thing that is not happening in USA? Unfortunately other countries are seeing the advantage of this and this terrible concept is spreading worldwide, even as USA tries to keep it as quiet as possible. The Supreme Court has a ruling that says the possibility of increased tax revenue or jobs is enough reason! So, this is already the groundwork to isolate a small hated subset of USA citizens, say the rich for example, and come up with a plan that taking their assets (not just land!) can help create new jobs and tax revenues. Since income taxes, etc. are much higher tax rate than capital gains, then it is easy to argue that the wealth of a USA millionaire is much less tax making than all the taxes on working man with job. So just make anything that spends the ex-millionaires assets on a useless jobs program for doing busy work. Now you have jobs and more taxes and following Supreme Court.
Of course this will never happen in a country like USA that is protecting its citizens from terrorists like:
http://en.wikipedia.org/wiki/Liberty_DollarAnd where possession of crypto alone would have been a crime without D. Bernsteins victory against SupremeCourt:
http://en.wikipedia.org/wiki/Bernstein_v._United_StatesSo I am using these informations on the Internet and maybe it is all made up by extremists?
I am only trying to open some eyes for peoples in USA, the media machine there makes the soviet propaganda presses look like some childs school project. Please Russian peoples, I dont mean to offend you, just your former govt I am making the example from!
I am the world traveler, I have been to China, I see with my eyes, but it is ok to not believe me. I am not trying to say USA people are bad. Clearly USD dollar hyperinflation is the only realistic path, so we are agreeing on this. If you are thinking USD hyperinflation is not making for civil unrest, then I sure hope you are right. It is quite possible if it is done like cooking a frog. If you start with cold water and gradually heat the water, it never jumps out. If you just put it in hot water at first, it always jumps out, of course if it is super heated water to instant cook, then it is time for lunch
James
