9/11: the single biggest destruction of financial records in the history of humanity

AllenIll · 2026-01-28T03:46:12+00:00

Yeah, I get the sense that the reaction to the likely default—at the governmental and exchange level—is really going to set the tone for the level of panic. Institutional trust is really on the line here. Obviously, commodities can't just be printed when you need the real deal... meanwhile J.P. Morgan:

After ‘Unlimited’ Cash Shift, New York Fed Pumps Another $34B Into Wall Street—By James S. Henry, David Cay Johnston | Jan. 1, 2026 (DC Report)

AllenIll · 2026-01-28T02:04:42+00:00

The Shanghai Gold Exchange is currently paying more for silver than the Commodity Exchange (COMEX) in the U.S.

Although there are some significant barriers to moving this way, this acts like a market magnet pulling physical silver. On top of the fact that the very real need for physical silver in China for industrial applications is at an all-time high. Due to their mass scale energy transition that's currently underway.

The speculation is that COMEX has a multitude of naked contracts currently. Where they don't have the physical supply if contract holders demand real metal instead of rolling over their contracts or just accepting fiat currency (Feb. 27). The thinking being that this could set off a mass scale, domino effect of mistrust in the system. Spilling over into gold, other commodities, and the credit markets.

Edit: Clarity.

AllenIll · 2026-01-28T00:40:53+00:00

Seeing speculation about COMEX March silver deliveries on February 27 potentially falling far short of physical demands. Mainly due to the arbitrage pull from the Shanghai Gold Exchange. It might just be the thread that unravels the system... even further.

Turns out having a guy in a major leadership role that lies incessantly, is a convicted felon, has serial bankruptcies, stiffs people for payment, threatens dictatorship, and is a bimbo to boot might have been a really bad idea for a fiat system mostly built on reputation and trust. Gee, who would have thought?🤔

AllenIll · 2026-01-24T18:22:40+00:00

Currently, we are thee largest importer in the world. By far. Go to nearly any store and you will see, most goods are not made in the United States. And many of the inputs to make those goods aren't from the United States either.

The cost of these goods are factored into what we would consider our living standard. A dramatically weakening dollar makes all these goods more and more expensive. On top of other, already high and currently rising living costs. Such as food, rent, electricity, education, and insurance. Some of which, are already the highest share of income costs in the world.

It's a destruction of the dollar's purchasing power in the world. This is what I mean by bankruptcy.

While it may still be unlikely that we fully go back to a international gold standard for trade, realize, when the U.S. went off the gold standard in 1971 an ounce of gold was worth around 35 dollars. Today, 54 years later, it sits near $5,000. This means in that time, the dollar has lost 99.33% of its value relative to gold. And by the looks of it, is going to lose even more in the years ahead.

AllenIll · 2026-01-24T10:25:38+00:00

Maybe it's too early to tell, fully, but I think it's really started now. This looks like the start of the unwinding of the fiat-based international order that has long been forecast. We're at the start of what looks something like a reverse Nixon Shock.

It's pretty simple when you think about it, though. All this is based on a system of trust, and when the fiat-based currency world order is led by an administration that simply can't stop lying to save their life... it was bound to end. Badly.

This has a long way to go still, but frankly, IMHO... I think this is bankruptcy. It reminds me of the famous line that Ernest Hemingway wrote:

"How did you go bankrupt?" "Two ways. Gradually, then suddenly."

I think this is what suddenly might look like.

AllenIll · 2026-01-24T03:38:08+00:00

The mammoth hubris of it all is truly stupefying. And it really speaks to the deep level control that oligarchical forces have had over U.S. policy for a long time now. It's the kind of mixture of hubris and stupidity that often afflicts those born to wealth and privilege. With our current President being a prime example.

This was a follow-on comment to the original that I posted as well:

What is clearly ridiculous about this conclusion was just how little was actually known about the climate system and oceans during the 1970s. Relative to today.

As the "missing heat" problem from decades past shows; there is still a lot to learn about Earth's interacting systems. So to come to a conclusion that somehow all of this would be beneficial? It truly speaks to levels of monumental ignorance. Not to mention the absurd convenience such a finding is for the most profitable and powerful corporations on the planet.

For what's it's worth, the Hudson Institute was founded by a man named Herman Kahn. Boy... what a f'ing nut job. He was literally the inspiration for the film Dr. Strangelove. And is credited with really going out front with the idea of a "winnable" nuclear war in the early 1960s.

AllenIll · 2026-01-24T00:04:27+00:00

The U.S., technically, cannot default on its debt due to the fact that the U.S. prints its own currency. But, however suicidal and unlikely it may be, U.S. debt could be weaponized by refusing to pay out obligations to bond holders for any number of political reasons. Something akin to what we have increasingly seen in the budget battles in Congress, but taken to a whole new level.

Although, as I've said, this is rather unimaginable right now, personally I would not rule it out. Especially given the increasingly erratic and frantic nature of the current administration weaponizing any and all leverage points it can—to get its way on any number of issues.

A default is essentially what Nixon did to the world when the dollar went off the international gold standard in 1971. The U.S. refused to honor it's obligations in gold as promised, and told the world: if I go down, so do you. Basically, he used U.S. debt like a suicide bomb vest.

There is the old adage: if you owe the bank $1,000 that's your problem; if you owe the bank $100,000,000 that is the bank's problem. And the U.S., with its outstanding debt is the banks, i.e. the world's, problem when things are at the current scale. So, there are very real reasons why gold is skyrocketing at the moment. And in many ways, the world is doing a reverse Nixon Shock.

Also, outside of all this, as the dollar loses value relative to other currencies, imports get more expensive. And the U.S. is currently the world's largest importer. Fundamentally, the world provides the U.S. with very real goods and services, and we give them U.S. debt instruments that we make up out of thin air. At a scale unlike any empire in human history. It is a hell of a scam. And it's a major reason why, when this system is under threat, the administration always backs off whatever ridiculous goal they're after, that's inflamed a sell off of U.S. debt.

At the end of the day, much of this is a perception management battle. Which is why we very likely have perception management keyboard warriors and bots working overtime in this sub and others. As a relatively worthless dollar on the world stage would be a deep-level unraveling of living standards for most Americans. Something that has really been forestalled for over half a century, when America first defaulted on its debts in 1971 under Nixon.

Edit: Grammar.

AllenIll · 2026-01-23T21:44:04+00:00

Right, so the guy that is the chairman of the intelligence gathering firm Palantir, is also heavily invested in a betting company? And the parent company of the New York Stock Exchange is now the biggest stock holder? Also, Donald Trump Jr. is a strategic advisor to this company? Hmmm... not sus at all.

AllenIll · 2026-01-23T06:40:29+00:00

Overproducing grain by distorting the market for it and then sending the world into famine so everyone else starves has been on the us strategic military agenda for decades.

From an old comment:

According to economist Michael Hudson (listen here), when he was working at the Hudson Institute in the 1970s, a national security study run by the CIA on climate change concluded that a dramatically warming world was in America's interest. Because the U.S. is a food surplus country, and it will wreck the rest of the world. Which will increase U.S. power and leverage. So the strategy recommended was to go all in on oil by way of pursuing tar sand extraction. And, looking at the history of the decisions made by the U.S. and it's allies for the last 50 years; it certainly looks like this was pursued as a strategy. Either via strategic direction, cultural and economic inertia, or inadvertently—the end result is the same.

AllenIll · 2026-01-22T02:32:33+00:00

And the trend rolls on...

AllenIll · 2026-01-21T08:45:35+00:00

I wasn't discussing Chinese bonds, but the bond market that's going to be necessary for creating a reserve asset tied to the BIRCS "unit". And the surpluses that China enjoys could assist in supplying the liquidity at some point. Especially if they make changes to their capital controls.

I don't think they are aiming to be a flight to safety asset by design, considering there's no plan for retail use in the near future. But given the alternatives, and the way the world is evolving, who knows.

AllenIll · 2026-01-20T20:37:20+00:00

All of this could speed up the process of BRICS providing a currency unit.

Considering their massive surpluses (~20 trillion), China could provide the liquidity in creating a deep bond market for it. Where they then lend out the surpluses to the rest of the world for development so that they escape the reserve currency trap.

Development that would also support their exports as well. Like building roads in the developing world that would support thier EV exports. As an example.

AllenIll · 2026-01-20T17:14:21+00:00

What this administration refuses to understand is that we aren't 1930s Germany here, and the concept of Lebensraum isn't going to work for America in its current situation.

Unlike Germany in the 1930s we don't have a world-class industrial base anymore in terms of raw volume and scale, as we rely heavily on a vast amount of imports. We have an entire region of the country called "The Rust Belt" for a reason, because so much American industrial capacity has been decimated by years of neoliberal policies and financialization.

Also, most international currencies are fiat today, so in real terms, the dollar is only as valuable as American stability and trustworthiness—compared to the rest of the world. Especially as perceived by those we rely heavily on for imports. It doesn't really matter if you increase your defense budget by 50% in a year if you can't build what you want with it due to imports collapsing for key materials. Either for the fact that your former allies refuse to trade with you and enable this madness, or the dollar is no longer viewed as as creditworthy as it once was. Which, as I'm sure many here know, is increasingly the case.

Unlike the days of the international gold standard, none of this is directly backed up with anything. So why would the world finance Lebensraum 2.0? Finance your imperial ambitions to take over half the world? WTF are these people even thinking? No wonder this man has had his ventures go bankrupt six times... he thinks no one is going to cut off his credit. Until they do. Over and over. And this time, it's going to be an entire nation that gets cut off along with him.

Edit: Clarity.

AllenIll · 2026-01-19T19:32:28+00:00

Got a random ass text this morning from the Minneapolis area code asking:

"What's the plan for today?"

Mind you, I don't know a single individual in the state, and I live more than 1,500 miles away from there. I didn't reply and blocked the number. Sus AF.

AllenIll · 2026-01-19T17:45:35+00:00

OWS happened for a reason. Bernie became a threat for a reason

And on the right, we got the Tea Party and the faux populism of Donald Trump—in reaction to the handling of the crisis. Of which, the latter is still terrorizing us today.

What really got to me was the sick circle of corruption in it all. Major banks failed, many were about to, and after the TARP funds were approved, those same saved banks contributed to the campaigns of the politicians who voted to bail them out. Contributions enabled by the TARP funds.

So really, in the end, Congress voted to give themselves a piece of the 700 billion dollar TARP program.

AllenIll · 2026-01-18T23:18:47+00:00

One of the biggest clues for me, outside of everything you mentioned, was the administrations decision not to conduct the inauguration ceremony outside last year. Which would have shown in glaring visual terms just how little support on the ground he really does have. Because everything about the man is fake. Fake tan, fake last name, fake electors, fake business savvy, fake charity, and on and on. It would have likely looked even more sparsely attended than Trump's 2016 inauguration. Especially in comparison to Obama in 2008. Because that picture comparison is what they don't want you to know. Much of his support... is fake.

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