Obstinance_Works: Our debt act as a mechanism to redistribute wealth from West to East. Rightly speaking nations overspending such as ours should see their currencies collapse in value, but through a political arrangement this does not happen. We are basically pretending our currencies are worth more, and China is pretending its currency is worth less, so we can continue a situation where they sell and we buy - plushy for those alive in the West at the time - until China becomes the big creditor.
No one in the West wants to leave this fantasyland - our whole standard of living is built on the consumerism that debt pays for - and therefore the debt will continue to rise until China surpasses us in all manner, by every measure and no longer needs our advanced technology and education etc..
And we have similar hopes for fracking for gas in the UK. Some sort of energy independence would be a huge weight off our shoulders.
But it's just fiat currency and governments can just print more of it and then digitize it to remotely pay bills with.
So, what do I do with my piles of junk silver: Sell / Hold / Buy ?
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No one in the West wants to leave this fantasyland - our whole standard of living is built on the consumerism that debt pays for - and therefore the debt will continue to rise until China surpasses us in all manner, by every measure and no longer needs our advanced technology and education etc..
And we have similar hopes for fracking for gas in the UK. Some sort of energy independence would be a huge weight off our shoulders.
But it's just fiat currency and governments can just print more of it and then digitize it to remotely pay bills with.
So, what do I do with my piles of junk silver: Sell / Hold / Buy ?