I see two scenarios: The US\Treasury revalue gold, or they don't. If they do, gold goes up instantly (insert your wild speculation number here). If they don't, gold keeps going up as more worthless debt based fiat credit is created and faith in said fiat erodes (not just globally but domestically.) This whole yarn Bessent is spinning about restoring faith in the dollar and Russia will come back to the dollar and Venezuela loves dollars bla bla is crap. The entire world is denominated in dollars, so everyone needs them to service debt.. until they don't. Short term gold could go down again as need for dollars increase during a crash, but that would be temporary. As an American I don't even want dollars. I want all the purchasing power that was stolen through inflation back. I refuse to let them steal any more of my purchasing power in the future, so I get rid of dollars as fast as I earn them.
Both scenarios: hoard gold like your future depends on it (it does).
A US Treasury dollar isn't just in name only, it's supposed to be tied directly to gold and silver on deposit at the Treasury, that could be freely redeemed at a statutory peg. It's this second part that we're waiting to see, until then FRNs gonna FRN.
I'm having a really hard time figuring out where this $1000 comes from, everywhere is just saying it comes from the Treasury. Do they just print the money? Is it from tax revenue? Are these Treasury dollars or Fed dollars? Will the rigged casino even still exist when these kids retire? My personal kid accounts are a copy of "The Creature From Jekyll Island" + an ounce of gold.
This is kind of pointless. I live in WA, my sheriff doesn't enforce this either because all existing rifles are grandfathered. The part that matters is you can't buy them. Online retailers won't ship them to you, local dealers don't carry them.. there's nothing to enforce. What the 12 sheriffs and 17 Prosecutors should be enforcing is charging their local officials for infringing on their citizens constitutional rights by passing this "law". Sue them, charge them, whatever it takes to get it thrown out immediately. They passed this in WA in 2023, and we're STILL WAITING.
More importantly, does the bill exclude gold and silver, real money and legal tender, from capital gains tax if held as savings over a long period of time? I'm guessing........ no. "does not require any person or government entity to accept specie as payment".. the other big problem. Until you can pay your mortgage, deposit gold in the bank, and generally opt out of the fiat dollar system, this doesn't get us much. But it's a start at least. This is going to be a wild time with two different types of legal tender in circulation, currently metal is priced in dollars and doesn't have a fixed value, which would have to be much higher in fiat if ever a direct replacement and return to ye' old constitution.
Now will this force these megafunds to liquidate and mark to market the vast properties they already own flooding the market and brining prices down? Of course not. The only thing that fixes the "affordability" problem is reducing prices to align with incomes, or increasing incomes to align with prices. All of these interventions do nothing to address the actual problem, credit creation that caused prices to get so high in the first place. This is a monetary issue not a housing issue, it's not just houses that are unaffordable it's everything. Preventing Blackrock from buying any more single family homes is a good start, but won't move the needle even a millimeter for the swaths of young people priced out forever. And before someone swoops in to say the plan is we're going to "grow our way out of this"..... no.
Inflation has nothing to do with the "economy" or the "market".
It's directly caused by conjuring infinite credit and currency from nothing.
In a global market, Increasing productivity does ZERO to help affordability, since excess is just sold to other countries. How insane is growing our own food and pumping our own oil, instead of increasing supply domestically (and reducing prices) it's sold into the global market keeping prices inflated. This fantasy of growing our way out of this is just that, a fantasy. Until the unit of account is soundly based and credit\fiat restrained and reset, things get more expensive v.s. your income to infinity, because that too is globally priced (your labor.) "Growing our way out of this" means "inflating our way out of this", which is another hilarious saying, there is no inflating your way out of this. It's mathematically impossible. But if people "believe" (faith) that the system is fine, then it just keeps going, and why they jawbone these ridiculous ideas because people still believe this crap.
The entire covid fiasco was an intentional, premeditated operation, from it's creation, and release, to the "cures" they already had patented and ready to deploy en masse. This whole idea the government messed up and oopsie we didn't pay attention to safety is so far off the mark I don't even know what to say here.
As posted above, schools take the majority of property taxes. Audit them all and pay off those neverending fraudulent bonds. But muh roads!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Do you know the actual cost of roads and fixing potholes and paying that volunteer firefighter? It's like 10 bucks per person. Exempt households without children from funding schools. You want to have kids, you pay to "educate" them.
In western WA I can also report I'm seeing a lot less of these this year. They are still happening, but not the constant bombardment in summer like years past. I'm right under a central flight path hub so see jets from all directions, the "depositor" flights almost always fly north-south to get a long line that floats with the jet stream east. Maybe they changed the formula\finer particulate so less planes have to do the deed and they're less obvious. Maybe getting phased out as golden dome goes online? Hopefully