Episode-2760- Listener Calls for 10-26-20 — 5 Comments

  1. Re: UBI & behavior control

    Let’s say some form of UBI is implemented in the near future, and one is eligible and getting paid the UBI without needing to do anything different at present. With all other things being equal, one doesn’t want to turn down money that can be potentially useful someday, right?

    So with that in mind, what are the best ways of taking advantage of that while still minimizing that potential insidious influence for that future time if/when we’re EVENTUALLY pressured to comply to something against our nature? In other words, how do we maintain a healthy “meh” take-it-or-leave-it mindset in the face of such “free” goodies? Obviously, having other income and not being dependent on UBI is priority number one, but even “extra money” can influence us. Speaking for myself, I didn’t NEED the stimulus check and try to look at it as a ‘whatever’ sort of thing. But I’m self-aware enough to catch myself getting a little interested whenever I hear news about the possibility of another one in the future.

    Would the best approach just be arranging direct deposit or automatic transfer to an out-of-sight out-of-mind bank account, investment account, or crypto wallet? Basically operating on the principle that if one barely sees it, then one will barely miss it if yanked away? What would you recommend?

    • I am sure Jack has some great ideas for UBI that he can put to good use. I personally would defer it to another account that accrues interest as a sort of retirement fund that I don’t count on. That way if I do something that would warrant a “return of UBI funds” it would be easily accessible, but at the same time accruing interest and being available in an emergency.

      • One thing I am pretty sure of anything the .gov could take back would have to be clearly spelled out in law along with limitations. Or a specific law would have to be passed for a specific with some limitation on how retroactive they could go.

        So your idea is solid up to that cut off, say it is 12 months, okay money goes into a holding account for 12 months, now it goes where ever the fuck I want it to go. However remember one plan has stated you’d get X amount of money per month but any you did not spend would be taken back at the end of the month. Again a form or ecurrency (dotgov crypto fedcoin) would be necessary to do this with. How do you know if I spent it.

        This leads to an entire discussion about this entire thing that could be a full episode of TSP.

        Because say I give you 1000 fedcoins a month and say you must spend them and then say what you can do with them is restricted to categories 1, 2, 3, 5 and 9. You’d think this would be hard to enforce but with tech we developed that specific token could be restricted to specific privileged merchants to accept.

        They could in theory make you spend the money they give you the way they say you must spend it.

        Still almost any restriction would be shit you need to pay for anyway. And if they do this that retroactive ability is pretty much gone.

        WWJD if they did this to him? Well I would pay for that shit that I buy anyway with their space credits and I still have the extra money in my control from my actual income. This all starts to get muddy if say when you pay me for MSB you in the future are really sending Fedcoin because all USD becomes fedcoin even if they don’t kill paper money yet they may say a Jackson represents a cert for 20 fedcoins.

        Of course they can do this they even have EVERY serial number of every bill in circulation already so they can just peg actual space credits to your existing paper. Now when you take your cash stash and spend it they can begin tracking that money every time it is spent or pops up at any bank or compliant merchant.

        Compliant merchant? Oh you want to accept cash at your place of business? Okay you got to buy the brand new “Justin Hammer Serial Sequencer” or what have you to do that. Just hook it up to the net and put all bills in it, we will deposit the credits to your account, less your taxes of course and you just drop the bills at the bank, see how easy this is now.

        In fact when you put them in the sequencer and they are accounted for that way no one can open the box except the bank, see you can’t get robbed, isn’t that great? Change, oh no problem we give you a credit account to issue change against bills in fedcoins.

        You see where this all goes right?

  2. Greetings from PEI Jack.  I’ve accumulated a fair amount of both physical Silver and Gold, and some of the mid tier that you don’t recommend.  My physical also includes some junk U.S and Canadian coins as well as some “Resting Bitch Face Maples”.  I prefer the U.S Junk coins, since it’s 90% vs 80% on the Canadian coinage. My ‘Paper Silver’ is Sprott Physical Gold and Silver Trust.  My exit strategy on my physical is to supplement my RRSP, TFSA (401k,Roth IRA, U.S equiv).  Since Silver is much more volatile, I don’t want to have to sell at a low point; however if it runs up and I can get cash, and deploy that cash immediately to a tangible good, then I will do it.  My retirement income is not dependent on the metals.  The other thing I do is accumulate ‘virtual ounces’.  So if the Gold to Silver spread tightens up, I sell some Silver and flip to Gold, if it gets wider, I get Silver.  This I learned from the ‘McAlvany Weekly Commentary’ youtube channel.  I’ve not acquired either in the last six months, I’m waiting for a correction.  If Biden gets in, my thinking is QE to Infinity and both will do well.  Not sure.  Also I have some mining stocks.  First Majestic Silver has done well for me.  Anyway, my 2 cents.  Great show

  3. Just wanted to mention – Jack has talked about giving silver dollars ( or similar ) along with a little note to small kids for their parents to hold onto for the future. Then when the kid is old enough they get a lifetime of little notes attached to some silver or gold. I started doing this for family members and it has been well received and is a great conversation starter.