The headlines keep getting more and more honest…
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This looks pretty bad:
https://x.com/Jkylebass/status/1994418561033425272
The only way China can combat the massive real estate bust is to print, print, print.
Hence the sudden fascination with gold and silver for Chinese citizens.
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Let’s hope so… I just listened to Michael Oliver and he’s not as optimistic…
Do you ever wonder why citizens in Asian countries know so much about PM being real money while Americans and Europeans are relatively clueless? I mean, it’s an asset. It’s not Lady Gaga’s cellulite problems nor making sure there’s another six pack in the fridge before the game but the priorities. Is it age old Aesop ant vs grasshopper or was there a Jekyll Island type meeting where someone reminded the group, “don’t forget to add fat-dumb-happy to the plan”? It’s probably door number one.
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I agree with him re the importance of this. See the video in the tweet. the comment below is from that.
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I agree that the Shanahan video is important. I found this retweet response to be revealing as well:
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Will print work better in China than in Japan? Both have pros and cons… with stalling energy market for society, growth isnt desirable(Japan teetering very narrowly for 30 years to avoid deflation but avoid big printing).
Trick is since 1940s,50s west has stayed afloat for regular citizen and boomers moreso… enough time(almost 3generations) that people forgot and formed new notions in every corner of society and worldviews to reflect (africans, latin americans are simply not as competent people blaablaa). It never was true elsewhere though. Now it is crumbling in “west” also. China as biggest one offers competition, alternative. That alone is good. West has done nothing to solve problems looming… China is a wakeup call(eg energy).
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Engineers can be pretty unique in how they think, act, communicate, analyze, listen, and deal with the softer non logic portions of human life. If they have excellent listening skills coupled with truth seeking then the results can be great. Engineers are often required to have a techno-logic language set to be used with other highly logical tech folks, and then be multi-lingual to be able to talk in other languages such as management, marketing, parenting, relationships, empathy, family skills, less hard logic driven folks and such. This is not saying any of this makes one type of person better than another, only that we all are different with different skill sets and wheel house perspectives.
As an Engineer, I see totally different characteristics when looking at the Engineering genius, truth seeking, common sense, and forethought of Elon Musk than you do.
Yet I also respect your ability to have totally different perspectives. If you would like to explain your perspective, thoughts, and data I would love to understand another’s viewpoints. Especially explanation of your view that Elon’s motivation is being 80% business man going for anything that makes money.
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People have opinions. Everyone has them. If there is weak leader, it becomes mess. Also sometimes to do harsh decisions to fire person (topic why Chris is talking of problems every week as government doesnt have this mechanism). Granted this is not tech skill. However as you can interact with many kinds of people, it can be learned with motivation. Lots of CEOs are MBAs after quick bucks then leave sinking ship. Being businessman[mindset] is needed to get capital to do things. Regular staff engineer has decent life too, but big visions need more money.
Im not saying he is particularly great guy… businessmen tend to be impulsive, comment on things (society) that they didnt do homework, have strong convictions on things … but small niche that is their company, things, business fail if they do wrong.
Making money is not bad thing per se… as there seems to be bigger picture. MBA types seem to only love money which is problem.
In US having money is akin to 99% perspiration and 1% inspiration quote (in science context). To be precise money is in company, where effort is put in to make it more succesful.
Engineers are various kinds. Some like IBM style steady 9-5 job. Some are ambitious and willing to work 100hour workweeks in SpaceX or Apple latest thing to make something unique[to be first].
So there are priorities for each person and company in these aspects.
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I wonder what “they” will do to prevent silver (or gold) from going to a real price, whatever that is, be it 60, 100, the absurd Rickard’s 1,000, whatever. They just got away with the most ridiculous dog-ate-my-homework crime, and it was a crime. They purposely prevented any kind of free trade of silver for ten hours worldwide and lied about how it happened. That has to be a crime.
If Mister Slammy can’t “shut off the cooling systems” early Monday morning and can’t stop the demand and price rise worldwide, what the hell could he do again, and why wouldn’t he? Who will hold him accountable with something more than a harshly worded letter or some dipshit like Chip Roy going on Hannity to say, “it’s deeply troubling, Sean”? (I meant dipshit in the most positive, respectful, and uplifting way)
FWIW, and it probably has nothing to do with PM but Ukraine is losing VERY quickly. The number two guy just fled the country. He was Zelensky’s agent back when johnson’s played piano. I think they’re up to five of the highest government officials fleeing to Israel and oddly, Florida with YOUR tax dollars. Russia just shut down Ukraine’s largest manufacturing city for good. Ukraine’s net military loss per Larry Johnson is 40,000 man deficit per MONTH. The defenses are gone in the south and almost gone in central regions. So, maybe there’s a connection between the hundreds of billions owed/blown up and the silver brouhaha?
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Thanks for the insights th1 
Perhaps it is the tech bro wives who will ultimately be the ones to take them down, especially if they realize they were used and played just like the little people. If ever there were just cause for a woman’s wrath…
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People’s desire for gold is correlated with their experience with fiat currency debasement/blow up.
People in the US have had a currency that has looked the same for decades and has mainly depreciated at a rate so slow that people don’t notice/care/learn about it. As the speed of debasement has picked up, so has interest in gold.
Go round the world to less stable countries. Countries where people have seen fiat blow up multiple times per generation for whatever reason - incl the US invading freedom and democracy into them. They have the lived experience that paper is temporary but gold is forever.
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The one thing i hold in my head is chris martensos statement that you cant f with complex systems…you cant fully predict or control every little ripple.
I hope hes right.
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I do not have an engineering brain. Admire those rare people who do. They can figure out anything if they are so inclined.
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In trading, one man’s gains are another man’s losses. It’s a zero-sum game.
So, I have to ask…who’s footing this bill?
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Genesis 6:1-6 "When human beings began to increase in number on the earth and daughters were born to them, the sons of God saw that the daughters of humans were beautiful, and they married any of them they chose. Then the Lord said, ‘My Spirit will not contend with humans forever, for they are mortal; their days will be a hundred and twenty years.’
The Nephilim were on the earth in those days—and also afterward—when the sons of God went to the daughters of humans and had children by them. They were the heroes of old, men of renown.
The Lord saw how great the wickedness of the human race had become on the earth, and that every inclination of the thoughts of the human heart was only evil all the time. The Lord regretted that he had made human beings on the earth, and his heart was deeply troubled."
There has been lots of debate about interpretation of this particular passage for thousands of years. Some contend that this refers to a type of angel that came down and took human wives, creating a race of angel-human hybrids that were giants. And, because they were not fully human, are ineligible for salvation.
This interview with Timothy Alberino goes on to contend that, the plans merge humans with AI machines could also have the same effect- creating a “race” of humans that are not fully human and therefore, not eligible for salvation.
I’m not sure what to think but I don’t find the premise implausible and it’s worth some serious thought. Also jives with the Genesis name for the AI push.
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Are gold mining stocks going to get crushed too or what? I figured those would be the safest and they’ve done well for me this year
How did they generate revenue? If I hodl bitcoin, do they somehow make magic money out of price changes despite no trades happened?
I start to suspect v30 /knots controversy is manufactured to create price volatility to make computer bot trading money for Blackrock… before that it stayed in low margin (maybe max 5% -+ ) for crypto asset. For BR maybe that wasnt enough. It has picked up price though from 80k back to 91k now, so buy pressure is there(similar as gold).
I can see transhumanism where this AI hybrid would fall into, be big rage for 15-20 years now. However Im more puzzled what that passage meant 2000 years ago without this magical tech. Somehow I cannot avoid thought if chip or AI is embedded into human body, that Brave new world prospect of emotional control will happen… it is common trope in scifi fiction(The 100 tv series had major plotline like that for instance, 3rd or 4th Terminator movie a bit different kind).