...which may help explain the willingness of US politicians to assist the Ukraine in their  war against Russia

...not confirmed yet tho

...such as gold, land/real estate, sought after art/collectibles.

Or anything that can produce wealth or products which can act as a store of wealth. Ie a farm that grows/produces corn.

As our dollar or paper currency continue to lose value so do our investments such as stocks, high interest savings accounts.

Seems holding too much cash or paper investments aren't a good idea in an inflationary environment.

Got any suggestions?

I'm gettin this idea from some YouTube videos I've seen lately.

What are the drawbacks?

The cons?

....is everything OK where you live @Biggie Smiles Bigly?

Stay safe.

How do people in Florida normally prepare?

Flee? Stay Inside? Just at curious

....may not be who you think it is!

Thought this was an interesting story/read:

https://www.cbc.ca/news/canada/british-columbia/man-sues-over-tesla-stocks-1.7343048


....legitimate claim? Or Sour Grapes?

B.C. man sues RBC after earning then losing $415M on Tesla stocks

A Sooke, B.C., carpenter who turned $88,000 into $415 million investing in Tesla stocks, only to lose it all in short order, has filed a lawsuit against the Royal Bank of Canada and an accounting firm.

Christopher DeVocht claims that RBC Dominion Securities Inc., RBC Wealth Management Financial Services Inc., and Grant Thornton LLP breached contracts, were negligent in their duties and gave "inadequate advice" that led to him going completely bust.

None of DeVocht's allegations have been proven in court.

According to the claim filed in B.C. Supreme Court, DeVocht was a small, part-time investor with a portfolio of mainly Tesla Inc. stocks and derivatives that was worth $88,000 at 2019 year-end.

"As the value of Tesla stock grew rapidly during that period, Mr. DeVocht continued investing all of his money and the investment gains in put and call options for Tesla stock," says the claim.

"By the end of February 2020, the indicated value of his securities portfolio was approximately $5.5 million CAD. By the end of June 2020, when he was 30 years old, the indicated value ... was approximately $26 million CAD, and rising rapidly."

Tesla's Q1 net income down 55% year over year
The claim goes on to say that DeVocht wanted to move out of his rental apartment and buy a residence. He contacted a representative at RBC Private Banking about obtaining a loan against the equity in his RBC trading account and was introduced to an RBC financial management adviser. He then entered an agreement with RBC for financial planning advice.

At this point, his portfolio was valued at almost $50 million.

The claim says RBC advisers failed to understand and support DeVocht's evolving wishes to "essentially retire" by liquidating his Tesla options and moving the wealth into secure investments that would generate passive income.

Tesla stock on pace for worst year ever
According to the claim, DeVocht was provided with an RBC margin account which allowed him to easily borrow money to make trades. He was also introduced to a tax adviser at Grant Thornton LLP. 

By April 2021, DeVocht's net worth had grown to $186 million, according to the claim. By November of the same year, his securities portfolios were worth $415 million.

The claim says DeVocht was twice advised to donate to the RBC Charitable Gift Fund in order to obtain charitable tax credits, giving approximately $8.5 million in December 2020 and then another $17 million one year later.

By October 2022, Tesla shares were in sharp decline, and DeVocht's investment holding company was forced to sell shares to repay loans from his RBC margin account.

"In time, the plaintiffs' security holdings were worth nothing," states the claim.

"But for the defendants' inadequate advice ... the plaintiffs would have preserved a substantial portion of their wealth and implemented financial planning that would not have resulted in the loss of their entire net worth."

None of the defendants have filed a response. An RBC spokesperson said in a statement that the bank could not comment as the lawsuit is currently before the courts.

A Grant Thornton LLP spokesperson said in an email that they generally do not comment on matters before the court, and said that to their knowledge, the company had not yet been served with DeVocht's lawsuit.

...now I'm not suggesting this will be the outcome, but if it is...how will this affect Harris ability to get anything done?

In the event that the 2 legislative chambers are controlled by the Republicans it seems that Harris would be a lame duck President wouldn't she? She wouldn't have nearly the authority that her predecessor Biden has had.

Anyway that's what I thought may unfold. So if the Congress ends up being Republican with a Democratic President wouldn't that limit Harris' power quite a bit? Seems she would have difficulty passing the most ambitious parts of her agenda.

....interesting is that both have had their share of financial problems & have declared bankruptcy at least once in their lives

...any advice for her?

https://youtu.be/7jlQffXGoaw?si=V8so2FtWsZziz7jo

...this was noted by most of the major news organizations:


....and I kinda think I know why.

https://www.270towin.com/2024-senate-election/consensus-2024-senate-forecast

...even if the Democrats win the Presidency, they may have to deal with a Congress where the majority is Republican, including Vance who would be a Senator wielding some clout in the Senate:

https://www.270towin.com/2024-senate-election/consensus-2024-senate-forecast

...so it was somewhat noticeable that Walz did not or tried to avoid offending Vance too much.

Likewise, Vance wanted to appear more likeable and appealing to American voters.

So the debate didn't turn out to be the Slugfest that many had anticipated.

https://www.tsn.ca/mlb/chicago-white-sox-suffer-121st-defeat-to-set-modern-era-mlb-loss-record-1.2180303

....is she betraying her principles or following them!?

https://www.independent.co.uk/news/world/americas/us-politics/trump-liz-cheney-republicans-new-party-b2616860.html

...sits at $35 Trillion and Rising fast.


Only way I can see them doing it is what Germany did after World War I.

!. Inflate away the debt therby making the US Dollar virtually worthless.
2. Raise Interest Rates to sell higher yield bonds
3. Revalue the price of Gold to $10,000 an ounce. Silver similarly.
4. Revert to at least a partial Gold/Silver Standard

Of course this would cause a great deal of pain for the avg American, but can't see any other way they could do it.

Of course, these are extreme measures, but somewhere down the road, it seems it's the only way out.

Unless they do get other countries to subsidize or pay off the debt for them like Nixon did when he took the US off the Gold Standard.

HFCS - High Fructose Corn Syrup a main culprit.


To this end I'd have agree with RFK even if I don't necessarily agree with his politics