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One Little Problem With The “All-Electric” Auto Fleet: What Do We Do With All The “Waste” Gasoline?

One Little Problem With The "All-Electric" Auto Fleet: What Do We Do With All The "Waste" Gasoline?
Tyler Durden
Mon, 12/14/2020 – 17:40

Authored by Charles Hugh Smith via OfTwoMinds blog,

Regardless of what happens with vaccines and Covid-1

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One Little Problem With The "All-Electric" Auto Fleet: What Do We Do With All The "Waste" Gasoline? Tyler Durden Mon, 12/14/2020 - 17:40

Authored by Charles Hugh Smith via OfTwoMinds blog,

Regardless of what happens with vaccines and Covid-19, debt and energy--inextricably bound as debt funds consumption-- will destabilize the global economy in a self-reinforcing feedback.

Back in the early days of the oil industry (1880s and 1890s), the product that the industry could sell at a profit was kerosene for lighting and heating. Since there was no automobile industry yet, gasoline was a waste product that was dumped into streams.

Why couldn't the refiners produce only kerosene? Why did they end up with "worthless" gasoline?

The answer is a barrel of oil produces a variety of products. While there is some "wiggle room" to produce more diesel and less gasoline, etc., it isn't possible to turn a barrel of oil into only one product.

John D. Rockefeller became very wealthy by cornering much of the oil market in the 19th century. But he didn't become fabulously wealthy until the 20th century, when the rise of automobiles created a market for all the "waste" gasoline.

Rockefeller became super-wealthy when all the products of each barrel of oil could be sold at a premium rather than just a portion of the products.

This reality has been forgotten: the price that can be fetched for a barrel of oil depends on the demand for all the products, not just a few of the products.

Those demanding an all-electric auto-truck fleet as a "green" alternative will re-create the dilemma of what to do with the "waste" gasoline. The world will still want fuel for all those container ships bringing all the goodies of a consumerist society, all those cruise ships visiting ports of call, jet fuel for all those exotic vacations enabled by 550 mile-per-hour aircraft, and oil-based lubricants, plastics and petro-chemicals, and so oil will still be pumped and refined, and almost half of it will be gasoline.

We can either use it or throw it away but we can't magically turn a barrel of oil into only one product.

This is a topic worthy of your understanding, so grab a vat of your favorite beverage and turn off all distractions.

Longtime readers know I've focused on energy-oil markets for 15 years. Despite ups and downs in price, the oil market has been remarkably stable.

This stability is about to transition to chronic instability: wild swings in price, shortages, and social chaos in both producing and consumer nations.

Let's start with the most basic dynamics in the cost of producing oil, refining it and selling the products at a profit.

1. As a general rule, a barrel of oil (42 gallons, 196 liters) yields a range of heavier and lighter products.

The price the producers can charge for each product--gasoline, diesel fuel, heating oil, jet fuel, propane, etc.-- depends on demand for each product.

If the price for one product falls drastically, the oil producer can't increase the price of some other product to compensate for the loss of income unless demand for the other products will support higher prices.

Consider the huge decline in demand for jet fuel as a result of global air travel dropping in the pandemic. Oil producers can't just raise the price of gasoline to compensate for the drop in the price of jet fuel.

If gasoline demand continues declining (due to fewer commutes, etc.) then producers can't charge more for diesel to make up the drop in the price of gasoline.

In other words, there has to be strong demand for all the products in a barrel of oil for producers to get enough money to extract, refine and transport the products globally.

Unlike the old days when producers could afford to throw away some petroleum products because their costs of extraction and refining were so low, now producers need more than $45/barrel just to break even.

This is what I'm calling Oil Paradox #1: if demand for any of the primary products is weak, producers can't afford to continue extracting and refining oil, even if there is strong demand for some products.

2. Transportation is the primary use of oil: 68% of all petroleum products are consumed by transport, 26% by industrial and 6% residential/commercial. (These are U.S. statistics, but the global demand is roughly the same.)

If demand for gasoline, diesel and jet fuel remains weak, the value of each barrel of oil will remain below break-even, even if the industrial need for some products (lubricants, etc.) is strong because these industrial products are essential to the world's industrial economy.

3. Much of the consumption of the past 20 years was funded by debt, which is now $277 trillion globally and accelerating. Humanity has borrowed and spent trillions on consumption, and what remains is the interest due on the debt.

This interest constrains future borrowing. The "solution" to interest is inflation, which devalues the interest due. But it also devalues the purchasing power of the currencies being inflated, and so everyone's money buys fewer goods and services.

This is the Debt-Inflation Paradox: the more interest you owe, the greater your need to inflate away the burden of interest. But inflation destroys the purchasing power of money, impoverishing everyone who needs the money to live.

There is no way out of this paradox: either the global economy defaults on its debts, destroying trillions in phantom wealth, or its currencies lose value, impoverishing everyone.

Since so much consumption is funded by debt, any reduction in borrowing, no matter how modest, will destroy demand for petroleum, triggering the Oil Paradox (producers can't charge enough to justify pumping and refining oil).

4. The pandemic has accelerated consumption trends that reduce demand for fuels. Remote work is here to stay, regardless of what you may read. Corporations can no longer afford to staff centralized offices in costly cities. Making everyone commute to offices is no longer financially viable.

Corporate travel is also no longer financially viable. As profit margins fall, the luxury of jetting to physical meetings is no longer justifiable except for senior management-- a few dozen people, not hundreds or thousands.

Tourism thrived in an economy of easy, low-cost credit and secure incomes. Lenders can no longer afford to lend to those with poor credit--notice how credit card limits have been drastically reduced--and incomes are no longer secure.

If the pandemic were the only issue, it would be possible to see a return to 2019-level consumption. But unsustainable debt loads will only get more unsustainable, so much of the consumption that was funded by debt will go away and not come back: the interest on all the existing debt remains to be paid, one way or another.

This decline in consumption has lowered the price of oil far below break-even for most producers. As the article below explains, there are two break-even prices for petroleum: one to get it out of the ground, refine it and deliver it to market, and the second for the social costs the oil pays for.

This is the famous Oil Curse: nations with oil reserves end up depending on selling oil for virtually all their revenues because it doesn't make sense to invest in less reliable, less profitable sectors.

As a result, Saudi Arabia can pump the oil for $45/barrel, but it needs a price of $85/barrel to pay all the social welfare costs it has promised its people.

If you glance at the charts in this article, you'll see the full break-even price of oil for OPEC nations is extremely high.

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

This generates Oil Paradox #2: low demand/low prices for oil may be financially viable in terms of extracting the oil, but the societies that depend on vast oil revenues will unravel if oil prices stay low, and that will disrupt production.

Roughly half of U.S. petroleum production is from tight shale and other unconventional oil sources. Many of these wells are no longer profitable and will be shut down once the producers' credit lines dry up. (This is already happening, triggering mass bankruptcies in the fracking industry).

The oil producing nations are basically surviving on $40/barrel oil by borrowing against future revenues. This is a dangerous game because if oil prices remain low their credit lines will eventually be withdrawn.

The oil producers need supply to fall drastically enough to raise prices back to the $80/barrel or higher level. But nobody can afford to cut their own production enough to reduce global supply enough to matter.

This introduces Oil Paradox #3: should petroleum producers succeed to slashing supply so oil goes to $85/barrel, the higher cost will push the fragile consuming nations into recession or depression, which will slash demand even more, which will require even deeper production cuts to maintain prices.

If we put all these paradoxes together, we see that oil markets are now intrinsically unstable and cannot return to stability because the mix of high break-even prices, declining demand and the end of debt-funded consumption cannot be resolved: high prices crush demand, low prices crush producers, and debt is crushing both consumers and producers.

Much hope is being placed on so-called renewable energy, most of which is not renewable but replaceable, as I've learned from Nate Hagens. A forest is renewable, a solar panel or windmill must be replaced every 20 years at enormous expense.

Right now all alternative energy sources--wind, solar, etc.-- generate no more than 4% of global energy consumption. (see chart below) Despite hundreds of billions of dollars invested, all the alternative energy sources are a tiny fraction of global consumption, and their supposed fantastic rates of growth is revealed on this chart as inconsequential: all this new energy doesn't replace a single drop of oil, it simply fuels additional consumption.

 

It will take a monumental investment and many years to get this to 10%. The reality is the vast majority of the global economy still depends entirely on petroleum for transport and industrial essentials such as lubricants.

 

How (Not) to Run a Modern Society on Solar and Wind Power Alone

Petroleum is now an unstable system and for all the reasons outlined above it cannot be restored to stability: just as time is a one-way arrow, so is the loss of stability.

What can we expect? Unstable systems are prone to wild swings to extremes and unpredictable collapses. So we may see collapses in the price of oil as we saw in March, and then rapid ascents in price above $100/barrel, which then crash once demand declines.

This unpredictability complicates projections and generates uncertainty. 

This is the final paradox (#4): the unpredictability of oil markets is itself a destabilizing force. Decisions on future production and consumption cannot be long-term, and this constrains investment in future production.

Regardless of what happens with vaccines and Covid-19, debt and energy--inextricably bound as debt funds consumption-- will destabilize the global economy in a self-reinforcing feedback.

*  *  *

If you found value in this content, please join me in seeking solutions by becoming a $1/month patron of my work via patreon.com.

*  *  *

My recent books:

A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $8.95, print $20, audiobook $17.46) Read the first section for free (PDF).

Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World (Kindle $5, print $10, audiobook) Read the first section for free (PDF).

Pathfinding our Destiny: Preventing the Final Fall of Our Democratic Republic ($5 (Kindle), $10 (print), ( audiobook): Read the first section for free (PDF).

The Adventures of the Consulting Philosopher: The Disappearance of Drake $1.29 (Kindle), $8.95 (print); read the first chapters for free (PDF)

Money and Work Unchained $6.95 (Kindle), $15 (print) Read the first section for free (PDF).

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Angry Shouting Aside, Here’s What Biden Is Running On

Angry Shouting Aside, Here’s What Biden Is Running On

Last night, Joe Biden gave an extremely dark, threatening, angry State of the Union…

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Angry Shouting Aside, Here's What Biden Is Running On

Last night, Joe Biden gave an extremely dark, threatening, angry State of the Union address - in which he insisted that the American economy is doing better than ever, blamed inflation on 'corporate greed,' and warned that Donald Trump poses an existential threat to the republic.

But in between the angry rhetoric, he also laid out his 2024 election platform - for which additional details will be released on March 11, when the White House sends its proposed budget to Congress.

To that end, Goldman Sachs' Alec Phillips and Tim Krupa have summarized the key points:

Taxes

While railing against billionaires (nothing new there), Biden repeated the claim that anyone making under $400,000 per year won't see an increase in their taxes.  He also proposed a 21% corporate minimum tax, up from 15% on book income outlined in the Inflation Reduction Act (IRA), as well as raising the corporate tax rate from 21% to 28% (which would promptly be passed along to consumers in the form of more inflation). Goldman notes that "Congress is unlikely to consider any of these proposals this year, they would only come into play in a second Biden term, if Democrats also won House and Senate majorities."

Biden also called on Congress to restore the pandemic-era child tax credit.

Immigration

Instead of simply passing a slew of border security Executive Orders like the Trump ones he shredded on day one, Biden repeated the lie that Congress 'needs to act' before he can (translation: send money to Ukraine or the US border will continue to be a sieve).

As immigration comes into even greater focus heading into the election, we continue to expect the Administration to tighten policy (e.g., immigration has surged 20pp the last 7 months to first place with 28% in Gallup’s “most important problem” survey). As such, we estimate the foreign-born contribution to monthly labor force growth will moderate from 110k/month in 2023 to around 70-90k/month in 2024. -GS

Ukraine

Biden, with House Speaker Mike Johnson doing his best impression of a bobble-head, urged Congress to pass additional assistance for Ukraine based entirely on the premise that Russia 'won't stop' there (and would what, trigger article 5 and WW3 no matter what?), despite the fact that Putin explicitly told Tucker Carlson he has no further ambitions, and in fact seeks a settlement.

As Goldman estimates, "While there is still a clear chance that such a deal could come together, for now there is no clear path forward for Ukraine aid in Congress."

China

Biden, forgetting about all the aggressive tariffs, suggested that Trump had been soft on China, and that he will stand up "against China's unfair economic practices" and "for peace and stability across the Taiwan Strait."

Healthcare

Lastly, Biden proposed to expand drug price negotiations to 50 additional drugs each year (an increase from 20 outlined in the IRA), which Goldman said would likely require bipartisan support "even if Democrats controlled Congress and the White House," as such policies would likely be ineligible for the budget "reconciliation" process which has been used in previous years to pass the IRA and other major fiscal party when Congressional margins are just too thin.

So there you have it. With no actual accomplishments to speak of, Biden can only attack Trump, lie, and make empty promises.

Tyler Durden Fri, 03/08/2024 - 18:00

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Jack Smith Says Trump Retention Of Documents “Starkly Different” From Biden

Jack Smith Says Trump Retention Of Documents "Starkly Different" From Biden

Authored by Catherine Yang via The Epoch Times (emphasis ours),

Special…

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Jack Smith Says Trump Retention Of Documents "Starkly Different" From Biden

Authored by Catherine Yang via The Epoch Times (emphasis ours),

Special counsel Jack Smith has argued the case he is prosecuting against former President Donald Trump for allegedly mishandling classified information is “starkly different” from the case the Department of Justice declined to bring against President Joe Biden over retention of classified documents.

(Left) Special counsel Jack Smith in Washington on Aug. 1, 2023. (Drew Angerer/Getty Images); (Right) Former President Donald Trump. (David Dee Delgado/Getty Images)

Prosecutors, in responding to a motion President Trump filed to dismiss the case based on selective and vindictive prosecution, said on Thursday this is not the case of “two men ‘commit[ting] the same basic crime in substantially the same manner.”

They argue the similarities are only “superficial,” and that there are two main differences: that President Trump allegedly “engaged in extensive and repeated efforts to obstruct justice and thwart the return of documents” and the “evidence concerning the two men’s intent.”

Special counsel Robert Hur’s report found that there was evidence that President Biden “willfully” retained classified Afghanistan documents, but that evidence “fell short” of concluding guilt of willful retention beyond reasonable doubt.

Prosecutors argue the “strength of the evidence” is a crucial element showing these cases are not “similarly situated.”

Trump may dispute the Hur Report’s conclusions but he should not be allowed to misrepresent them,” prosecutors wrote, arguing that the defense’s argument to dismiss the case fell short of legal standards.

They point to volume as another distinction: President Biden had 88 classified documents and President Trump had 337. Prosecutors also argued that while President Biden’s Delaware garage “was plainly an unsecured location ... whatever risks are posed by storing documents in a private garage” were “dwarfed” by President Trump storing documents at an “active social club” with 150 staff members and hundreds of visitors.

Defense attorneys had also cited a New York Times report where President Biden was reported to have held the view that President Trump should be prosecuted, expressing concern about his retention of documents at Mar-a-lago.

Prosecutors argued that this case was not “foisted” upon the special counsel, who had not been appointed at the time of these comments.

“Trump appears to contend that it was President Biden who actually made the decision to seek the charges in this case; that Biden did so solely for unconstitutional reasons,” the filing reads. “He presents no evidence whatsoever to show that Biden’s comments about him had any bearing on the Special Counsel’s decision to seek charges, much less that the Special Counsel is a ’stalking horse.'”

8 Other Cases

President Trump has argued he is being subjected to selective and vindictive prosecution, warranting dismissal of the case, but prosecutors argue that the defense has not “identified anyone who has engaged in a remotely similar battery of criminal conduct and not been prosecuted as a result.”

In addition to President Biden, defense attorneys offered eight other examples.

Former Vice President Mike Pence had, after 2023 reports about President Biden retaining classified documents surfaced, retained legal counsel to search his home for classified documents. Some documents were found, and he sent them to the National Archives and Records Administration (NARA).

Prosecutors say this was different from President Trump’s situation, as Vice President Pence returned the documents out of his own initiative and had fewer than 15 classified documents.

Former President Bill Clinton had retained a historian to put together “The Clinton Tapes” project, and it was later reported that NARA did not have those tapes years after his presidency. A court had ruled it could not compel NARA to try to recover the records, and NARA had defined the tapes as personal records.

Prosecutors argue those were tape diaries and the situation was “far different” from President Trump’s.

Former Secretary of State Hillary Clinton had “used private email servers ... to conduct official State Department business,” the DOJ found, and the FBI opened a criminal investigation.

Prosecutors argued this was a different situation where the secretary’s emails showed no “classified” markings and the deletion of more than 31,000 emails was done by an employee and not the secretary.

Former FBI Director James Comey had retained four memos “believing that they contained no classified information.” These memos were part of seven he authored addressing interactions he had with President Trump.

Prosecutors argued there was no obstructive behavior here.

Former CIA Director David Petraeus kept bound notebooks that contained classified and unclassified notes, which he allowed a biographer to review. The FBI later seized the notebooks and Mr. Petraeus took a guilty plea.

Prosecutors argued there was prosecution in Mr. Petraeus’s case, and so President Trump’s case is not selective.

Former national security adviser Sandy Berger removed five copies of a classified document and kept them at his personal office, later shredding three of the copies. When confronted by NARA, he returned the remaining two copies and took a guilty plea.

Former CIA director John Deutch kept a journal with classified information on an unclassified computer, and also took a guilty plea.

Prosecutors argued both Mr. Berger and Mr. Deutch’s behavior was “vastly less egregious than Trump’s” and they had been prosecuted.

Former White House coronavirus response coordinator Deborah Birx had possession of classified materials according to documents retrieved by NARA.

Prosecutors argued that there was no indication she knew she had classified information or “attempted to obstruct justice.”

Tyler Durden Fri, 03/08/2024 - 17:40

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Economic Earthquake Ahead? The Cracks Are Spreading Fast

Economic Earthquake Ahead? The Cracks Are Spreading Fast

Authored by Brandon Smith via Alt-Market.us,

One of my favorite false narratives…

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Economic Earthquake Ahead? The Cracks Are Spreading Fast

Authored by Brandon Smith via Alt-Market.us,

One of my favorite false narratives floating around corporate media platforms has been the argument that the American people “just don’t seem to understand how good the economy really is right now.” If only they would look at the stats, they would realize that we are in the middle of a financial renaissance, right? It must be that people have been brainwashed by negative press from conservative sources…

I have to laugh at this notion because it’s a very common one throughout history – it’s an assertion made by almost every single political regime right before a major collapse. These people always say the same things, and when you study economics as long as I have you can’t help but throw up your hands and marvel at their dedication to the propaganda.

One example that comes to mind immediately is the delusional optimism of the “roaring” 1920s and the lead up to the Great Depression. At the time around 60% of the U.S. population was living in poverty conditions (according to the metrics of the decade) earning less than $2000 a year. However, in the years after WWI ravaged Europe, America’s economic power was considered unrivaled.

The 1920s was an era of mass production and rampant consumerism but it was all fueled by easy access to debt, a condition which had not really existed before in America. It was this illusion of prosperity created by the unchecked application of credit that eventually led to the massive stock market bubble and the crash of 1929. This implosion, along with the Federal Reserve’s policy of raising interest rates into economic weakness, created a black hole in the U.S. financial system for over a decade.

There are two primary tools that various failing regimes will often use to distort the true conditions of the economy: Debt and inflation. In the case of America today, we are experiencing BOTH problems simultaneously and this has made certain economic indicators appear healthy when they are, in fact, highly unstable. The average American knows this is the case because they see the effects everyday. They see the damage to their wallets, to their buying power, in the jobs market and in their quality of life. This is why public faith in the economy has been stuck in the dregs since 2021.

The establishment can flash out-of-context stats in people’s faces, but they can’t force the populace to see a recovery that simply does not exist. Let’s go through a short list of the most faulty indicators and the real reasons why the fiscal picture is not a rosy as the media would like us to believe…

The “miracle” labor market recovery

In the case of the U.S. labor market, we have a clear example of distortion through inflation. The $8 trillion+ dropped on the economy in the first 18 months of the pandemic response sent the system over the edge into stagflation land. Helicopter money has a habit of doing two things very well: Blowing up a bubble in stock markets and blowing up a bubble in retail. Hence, the massive rush by Americans to go out and buy, followed by the sudden labor shortage and the race to hire (mostly for low wage part-time jobs).

The problem with this “miracle” is that inflation leads to price explosions, which we have already experienced. The average American is spending around 30% more for goods, services and housing compared to what they were spending in 2020. This is what happens when you have too much money chasing too few goods and limited production.

The jobs market looks great on paper, but the majority of jobs generated in the past few years are jobs that returned after the covid lockdowns ended. The rest are jobs created through monetary stimulus and the artificial retail rush. Part time low wage service sector jobs are not going to keep the country rolling for very long in a stagflation environment. The question is, what happens now that the stimulus punch bowl has been removed?

Just as we witnessed in the 1920s, Americans have turned to debt to make up for higher prices and stagnant wages by maxing out their credit cards. With the central bank keeping interest rates high, the credit safety net will soon falter. This condition also goes for businesses; the same businesses that will jump headlong into mass layoffs when they realize the party is over. It happened during the Great Depression and it will happen again today.

Cracks in the foundation

We saw cracks in the narrative of the financial structure in 2023 with the banking crisis, and without the Federal Reserve backstop policy many more small and medium banks would have dropped dead. The weakness of U.S. banks is offset by the relative strength of the U.S. dollar, which lures in foreign investors hoping to protect their wealth using dollar denominated assets.

But something is amiss. Gold and bitcoin have rocketed higher along with economically sensitive assets and the dollar. This is the opposite of what’s supposed to happen. Gold and BTC are supposed to be hedges against a weak dollar and a weak economy, right? If global faith in the dollar and in the U.S. economy is so high, why are investors diving into protective assets like gold?

Again, as noted above, inflation distorts everything.

Tens of trillions of extra dollars printed by the Fed are floating around and it’s no surprise that much of that cash is flooding into the economy which simply pushes higher right along with prices on the shelf. But, gold and bitcoin are telling us a more honest story about what’s really happening.

Right now, the U.S. government is adding around $600 billion per month to the national debt as the Fed holds rates higher to fight inflation. This debt is going to crush America’s financial standing for global investors who will eventually ask HOW the U.S. is going to handle that growing millstone? As I predicted years ago, the Fed has created a perfect Catch-22 scenario in which the U.S. must either return to rampant inflation, or, face a debt crisis. In either case, U.S. dollar-denominated assets will lose their appeal and their prices will plummet.

“Healthy” GDP is a complete farce

GDP is the most common out-of-context stat used by governments to convince the citizenry that all is well. It is yet another stat that is entirely manipulated by inflation. It is also manipulated by the way in which modern governments define “economic activity.”

GDP is primarily driven by spending. Meaning, the higher inflation goes, the higher prices go, and the higher GDP climbs (to a point). Eventually prices go too high, credit cards tap out and spending ceases. But, for a short time inflation makes GDP (as well as retail sales) look good.

Another factor that creates a bubble is the fact that government spending is actually included in the calculation of GDP. That’s right, every dollar of your tax money that the government wastes helps the establishment by propping up GDP numbers. This is why government spending increases will never stop – It’s too valuable for them to spend as a way to make the economy appear healthier than it is.

The REAL economy is eclipsing the fake economy

The bottom line is that Americans used to be able to ignore the warning signs because their bank accounts were not being directly affected. This is over. Now, every person in the country is dealing with a massive decline in buying power and higher prices across the board on everything – from food and fuel to housing and financial assets alike. Even the wealthy are seeing a compression to their profit and many are struggling to keep their businesses in the black.

The unfortunate truth is that the elections of 2024 will probably be the turning point at which the whole edifice comes tumbling down. Even if the public votes for change, the system is already broken and cannot be repaired without a complete overhaul.

We have consistently avoided taking our medicine and our disease has gotten worse and worse.

People have lost faith in the economy because they have not faced this kind of uncertainty since the 1930s. Even the stagflation crisis of the 1970s will likely pale in comparison to what is about to happen. On the bright side, at least a large number of Americans are aware of the threat, as opposed to the 1920s when the vast majority of people were utterly conned by the government, the banks and the media into thinking all was well. Knowing is the first step to preparing.

The second step is securing your own financial future – that’s where physical precious metals can play a role. Diversifying your savings with inflation-resistant, uninflatable assets whose intrinsic value doesn’t rely on a counterparty’s promise to pay adds resilience to your savings. That’s the main reason physical gold and silver have been the safe haven store-of-value assets of choice for centuries (among both the elite and the everyday citizen).

*  *  *

As the world moves away from dollars and toward Central Bank Digital Currencies (CBDCs), is your 401(k) or IRA really safe? A smart and conservative move is to diversify into a physical gold IRA. That way your savings will be in something solid and enduring. Get your FREE info kit on Gold IRAs from Birch Gold Group. No strings attached, just peace of mind. Click here to secure your future today.

Tyler Durden Fri, 03/08/2024 - 17:00

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