The Greatest Wealth Transfer (Theft) Of All Time

builderofcastles (65)in Informationwar • 3 days ago

When someone hears "The greatest wealth transfer…", if they are into crptos or silver, they think of how they will be the recipient of great wealth, because bitcoin is the future of money. And, we got in early. (Sadly, even if you got in today, you are still early. Meaning we may have a long time to wait).

However, there is another group talking about "The greatest wealth transfer…" meaning when the Baby Boomers have to give up their wealth. (you can't take it with you, when you croak) These people see that the Boomers have most of the assets (excluding "the rich") of all the generations.

But, there are two big problems, and one YUGE! problem.

Nobody can afford the boomer's assets
Nobody wants the boomer's assets
All their wealth has already been stolen.

Nobody can afford the Boomer's assets

Most people cannot afford a house at today's prices. And Boomers want full market value for their houses, and their second houses. So, when the Boomers want to sell their houses to get at that equity; when the Boomers dump 25% of the houses (and almost 50% of the value) onto the market, nothing will happen. There are no buyers. Builders are having to slash prices to sell their recently built homes.

I imagine that the Boomers will have to drop their sale prices by 50%, that is, if they sell soon. And that is to start getting nibbles.

When it comes to selling their stocks, there are no retail investors there with capital to buy them up. The only group that is buying bonds is the Fed.

Basically, all of these prices are being held up because Boomers aren't selling in mass yet.

Nobody wants the Boomer's assets

The Boomers also have large collections of (model) trains, planes and automobiles. And they will find that there is no one to afford these. Further, those collections of Elvis paintings on black velvet, tea cups, collector plates, etc. will find no buyers, because nobody wants them. The newer generations have been financially repressed and so have never taken up collecting. The nostalgia isn't there. Rare is it to find someone of the younger generation that has a collecting as a hobby. Unless it is a digital collection as in Pokemon.

The Boomers, looking down from heaven, may be appalled as they see their children take their precious collections and throw them in a dumpster. If it isn't silver or gold, most of the collections aren't wanted.

So many sets of fine china, that probably haven't been eaten on more then a dozen times, is junk to the younger generations. Plates can be bought at the dollar store. And paper plates are entirely easier to use.

For years the Boomers have collected things, and the joy of that was never shared. And financially, the youngest generations can't enjoy it. Thus, all these things belong in a museum or a dumpster, according to the inheriting children.

The wealth has already been stolen

"The pensions are underfunded."

This statement is completely wrong, it would be more appropriate to say:

The money has already been moved out
This is a cover story to hide the theft
It was always designed to fail. The returns expected where always pie in the sky.

So, just like Social inSecurity, what is being said is just to place the blame elsewhere and protect the fraudsters.

If you have watched Catherine Austin Fitts, she talks about the break away civilization, and the theft of the retirement accounts.

If someone doesn't do something drastic (as in prosecute the bad guys and get the stuff back) Boomers are going to wake up and find the news saying, that the stock market is found to be completely fraudulent, and all the stock they felt they owned are gone. Then, the SEC will make sure that the Boomers are completely screwed by locking all brokerage accounts, and claiming any funds in them as necessary to make things better. I estimate it will be a decade before they figure out who gets what, and who takes haircuts.

(The SEC has been shown the fraud in the metals exchanges, and have done nothing about it. Don't expect them to start actually doing their jobs now)

Basically, the Boomers are wealthy only on paper. And soon, it will be found out that all the Boomers are as poor as poor Boomer who are living only on Social inSecurity.

Those expecting the wealth to transfer to younger generations and stimulate the economy, are waiting for something that will never come.

The whole economy has been hollowed out. But, so many Boomers think that they are immune to that. That they got theirs. Unfortunately, this is not true. And the younger generations have much animosity towards the Boomers.

So many things happened under the Boomer's watch:

dollar removed from the gold standard
coinage removed from silver standard
factories moved to Mexico and then China
the corporate ladder filled with boomers so youth never had room to climb
women in the workforce, twice as much taxes, lower wages
Trickle down economics, that only helped the Boomers who were already set

Yes, all of these evils were sold to the Boomers, but we are talking about the same group who marched against the war. From other's point of view, the Boomer sold out, and thus, they deserve what is coming for them.

Younger generations see themselves as paying for Boomer's retirements. Paying into Social inSecurity that they know they will never see. And they don't even own their house.

Things do not look good for any generation.
The only bright spot is that bitcoin may save us.