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Golden Jackass Time

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It's a three-day market holiday weekend so you know what that means....a visit from The Golden Jackass, himself...Jim Willie. The last time we spoke was New Year's Eve and that seems like freaking years ago so, as you might expect, this is an update that you're going to want to hear.

Oh my gosh. It's always interesting to talk to Jim and he sure didn't disappoint today. This discussion is loosely based upon the three primary points below. However and in true Jackass style, you're going to get a lot in between.

  • We've discussed QE∞ for years and now here we are.
  • Have we arrived at "The Big Reset"? Will there now be a debt jubilee?
  • What has Jim heard about the current events in London and New York. Is the bullion bank pricing scheme beginning to fail? Will gold be re-monetized in the next iteration of a global monetary system?

Thanks for carving out some time to give this a listen. I hope you have a safe, relaxing and peaceful holiday weekend.

TF

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AGXIIKSpartacus Rex
Apr 13, 2020 - 11:57pm

3 rules of Spam

1. Spam is Hawaiian soul food. Nothing better with eggs, bacon, toast, butter, hash browns, tomatoes, onions unless it's more Spam and bacon. You haven't lived until you venture into your favorite caf at 11 AM for brekkie afer putting in 6 hours and seeing another 6 hours on the job. A

Spam heart attack on a plate never killed anyone (not at least quickly) but sent legions of trenchermen back to the job, fit as a fiddle with a full belly, ready to go at it until sundown

2. Spam will keep forever and be as good after 10 years of storage as after the first year

3. If in doubt about the vintage, give it a sniff and check if the can is bulging. If it is, pull the key, count to three and throw with a strong overhand out 25 yards Duck behind something solid. Spam is a Class III IED if overripe

Spam cans are scientifically measured to be stackable like bricks or blocks. Bunker scalable designs on the internet show the how too's of building fortifications from Spam cans. They are suitable for armoring defensible positions.

4 Spam cans laid lengthwise will stop a 308 fired from 100 yards. Be sure to clean the shrapnel from the meat before serving

SteveWSpartacus Rex
Apr 13, 2020 - 11:30pm

Spam

I don't recall ever having had Spam. I did not know it existed until I came to N. America but I suppose USAF bases had it during WWII. It looks totally synthetic and I did not care to try it. The corned beef we got from Argentina and Brasil was, at least, derived from a cow.

Spartacus RexSteveW
Apr 13, 2020 - 6:33pm

"Rationing"

Just curious,

on a Scale of 1-10

where did you rate Spam?

Cheers!

Drron419
Apr 13, 2020 - 5:41pm

Willey is Wacked

His imaginary virus killed 5 people in know in New York

The virus probably is man made and is extremely virulent

He is correct though on supply chain disruptions especially food

It is a war and during war people die to save the republic. This is the tough choice we will be forced to make

JackPutter
Apr 13, 2020 - 3:33pm

Remember that a deposited dollar in a bank

Is the lowest tier of unsecured debt. Jubilee will be led by bail ins, and I'm sure that some will get jubilee debt erasure more than others.

Call me a cynic.

JackPutter
Apr 13, 2020 - 2:19pm

Hyper-reporting of death is a manipulation of populace.

1-model the fear first.

Zombie movies, comics, and TV series, Monsters inside of me.

Add the Purge, Dangerous Aliens,

2-When you want the public to "do some something!", start the body count and harp on the subject. At least once every 5 minutes. Present hysterical people to tell you what ever.

3. Stage organized events of conflict. Amplify threats.

Look into the Licensing of the "news" agencies. Oh funny thing they are "ENERTAINMENT".

4. Present the solutions from extreme to mild, and take some rights away. Change laws. Threaten with rope, yet apply another bind of string.

Wash and repeat as soon as the generations forgotten.

I grew up with parents and family that grew up through the Great Depression. The meaning of Great Depression has been lost in modern times.

As for the people on the TV; some will be repent, some will die of their own hand, after ten years time. This isn't going to be turned around. My sister who is a pretty smart gal, is delusional that things are continuing.

The bubbles that really burst are the concepts that people hold. They don't even recognize these as beliefs. Bill Gates thinks his Church of Vaccines is going to work.

The prime problem of unleashing chaos is it is by definition un predictable. Unknown things happen including to those who think "I've got mine".

AGXIIK
Apr 12, 2020 - 9:48pm

IN CASE YOU WERE WONDERING ABOUT THAT $1,200

Wall streeters will get around $18,000 and be back for more

Question?

What does a $1,200 check represent?

1 week of pay for Average Joe or Jane

How does that factor into $250 billion for this UBI slice of cash?

$250 billion is 1/80th of the annual GDP of $20 trillion

$250 billion is 4.5 days of cash for the recipients using a 360 day year

What happens the week after the UBI $1,200 hits our bank accounts.

$1,200 is spent.

Without jobs that means next week those people will need another $1,200

Those working will also get $1,200 but I figure the total employed now numbers around 90,000,000. That's 18 million new unemployeds plus the 6 million unemployed before the universal lock down

24,000,000 unemployed who will get the $1,200 plus their unemployment check. How much is that? Varies from state to state and how long a person was employed.

I see low to high $300 to $700 a week for 26 weeks. Let's say average $500 a week; $2,000 a month.

CARES act provides for an additional $600 a week for 4 months. $2,400 a month plus UI benefits Total $4,400 a month per person.

That's $1,200 per person is small beer. Will it be extended as a Weimar UBI for all of us making less than $75,000 single or $150,000 married? Good question.

One thing I know is that 16 and26 weeks comes and goes real quickly if jobs do not open up. It might be 6 months to a year for jobs to come part way back. Maybe the government should keep that $1,200 coming in regularly

Then there are the SS recipients and the gig job workers. Gig job gets no benefits from what I hear. Self employed like me get squat no matter what we are presently earning

I am not sure the present financial pressures people are under If UI is $2000 a month and CARES is $2,400, the average single person might be ok at $4,400 if my calculations are correct. If a couple both lose their jobs that's $8,800 a month, dwindling after 4 months and maybe going to zero in 6.

The $1,200 just seems puny in my estimation. Not that we won't take it. Bul like millions who have seen their businesses drop like rocks and got no avenue into the SBA PPP program because they don't fit a particulary box, things for them might get difficult in another month or two

murphyFerd Torgerson
Apr 12, 2020 - 1:10pm

Ferd

See post above.

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

murphyag1969
Apr 12, 2020 - 1:09pm

@ AG

So glad you're back. Maybe add to your repertoire?

The most interesting word in English language
Apr 11, 2020 - 11:48pm

Great to see you back Ferd

I'm glad to hear that your wife is better... and your humor is as sharp as ever.

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