Silver Is On A Tear Today

Tariffs do hurt the world's economy. However, every country has them. The US surge in tariffs is retaliatory against other nations tariffs on the US. The goal was to get the rest of the world to level the playing field and drop theirs. It was a negotiating tool for that means. Nothing more, nothing less.

 

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All notes above $100 were done away with as a means to stop drug trafficking and counterfeiting. You can still get them but they must be signed for when you pick them up and spend them. And not everyone or business will accept them. It forces you to use $100 notes.
Also, tariffs are used by every country in the world.

 

I've been watch the show Landman to quote the show, the oil and gas industry makes roughly $3 billion a day in profit, a $20 drop shouldn't be a problem.

 

Whoa, What?
The $500 and $1000 bring a premium and I always heard if a bank gets them they are required to turn them over to the government for disposal.

 

Umm, that's not what I read. My understanding is that when Trump feels offended by a foreign commercial or statement, he decides to unilaterally and arbitrarily impose a tariff. That doesn't sound very strategic to me. Also, it's my understanding that Congress has the authority to impose tariffs, not the U.S. president, and it's my understanding that the Supreme Court has just affirmed this.

 

I dealt with tariffs for many years. Most of them were 1-5%. A few higher. Whenever a tariff changed (upwards, and rarely 1-2% changes), we then passed those price increases on to our distributors or major retailers. It was never a problem with them, as they were very aware of the laws/ Tariffs, and they passed those price increases directly on to the Consumer. Don’t let anyone fool you, Tariffs are another name for IMPORT TAXES. That is the definition of Tariffs, and they are ultimately paid by the Consumers of the country that sets the tariff rates (also called Customs or Duties).

No country, or foreign agents pay those Tariffs. They are paid by the IMPORTING company that are domiciled within the Importing Country, and those costs are ultimately passed on to their Consumers.

The reason why increased Tariffs are a threat to other countries is because DEMAND for those increased tariffed goods will DROP because of the increased PRICES for those goods that are burdened with those increased Tariffs. Goods become more expensive, Consumers don’t have the budgets, and then they buy less. Simple equation, and undercuts a nations economic growth.

 

And presumably these tariffs were fairly stable from month to month or year to year, and didn't change daily based on the emotions of a single person. I'm happy that our Constitution gives restraints, because without these restraints, a socialist could easily use this type of leverage to tax me and others in this forum to death. So I really hope the Reagan types and Constitutionalists who were more visible in this space have a greater voice over time. We still have Massie and Paul!

 

I think we're venturing a bit too far into politics here. Let's not get the thread locked, shall we?