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Comment Rules for thee but not for me (Score 3, Interesting) 24

Poor countries must demonstrate clearer accounting and transparency to back up their calls for trillions of dollars of climate finance,

Why, when no first world nation does the same?

At this point trillions of dollars have gone into climate related slush funds with much of it siphoned off to make some very rich people incredibly richer, with a tiny portion actually going to real efforts to help the environment.

Why shouldn't the third would be allowed to dine at the same trough? Sounds like a racist thing if I'm being honest.

Comment Re:who cares about debt? (Score 1) 251

The rest of the world won't, because their own currencies are currently inflating more than the USD.

The U.S. is squarely in the middle of the list of world inflation (you can sort by tapping on column headers).

But the bigger problem is inflation ahead, which is illuminated quite well by the debt to GDP ratio map, where only a handful of countries are worse off... the interest payments for the U.S. debt are nearing exponential increase.

Got Gold?

Comment Re:What is anyone going to do? (Score 2) 103

There was a period of about 50 years in the 3rd century with about 20 emperors, that's a new one every two years on average. The reason had nothing to do with how good or bad or paranoid they were.

In those days, emperors were often proclaimed by the army in the field from their own ranks, ie generals, all over the empire. The troops were promised more pay and privileges, and in return they proclaimed and defended their general as the legitimate emperor. After a year or two, if the current guy failed to deliver or some other guy offered another army more (there were lots of different armies and generals), then he was assassinated and the new guy got given a go. There were no civilian police forces etc, so the armies had all the power. In particular, the praetorian guard protected, or killed, their own emperor, as the denarii rolled in or out. And yes, I'm oversimplifying.

Comment Opposite (Score 1) 251

Gold has an artificially inflated price

As per usual everything you say is exactly backwards of the truth - the value in relation to the USD of gold should be much higher by historical measurements, but the price of gold has been controlled for decades.

What is happening now is the rest of the world knows the real value of gold and governments, banks and people in many other countries are hovering up gold as the current massively discounted price.

The really fun point comes when governments realize they will never be able to pay off debts and the gold revaluation occurs (as the U.S. already did once in history, but you would;dn't know about that).

Gold is insurance against government financial malfeasance, I leave it as an exercise to the reader to what degree they feel like the government they live under is fiscally sound.

Comment Re:who cares about debt? (Score 2) 251

In fact, the incurring of debt is not directly related to expenditure at all. It's a mathematical fantasy. The USG never defaults. Who is going to enforce that?

It's really simple, the rest of the world is going to enforce that by at some point no longer taking USD (or in reality simply taking a lot more) for payments for real things they have, like oil or lithium or food.

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