Posted on 10/14/2015 11:09:36 AM PDT by blam
Julia La Roche
September
Billionaire hedge fund manager Paul Singer, founder of the $27 billion Elliott Management, went off on central-bank monetary policy at a hedge fund conference on Wednesday.
Speaking at the inaugural Tel Aviv Sohn Conference, Singer said that since the 2008 financial crisis developed, countries had been propped up by a "cult" of central bankers, according to tweets from Bloomberg TV's Elliott Gotkine.
Singer said the balance sheets of developed economies were hopelessly and utterly insolvent once long-term entitlements were added in, according to the tweets.
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"Gold is the only real money," Singer told conference attendees, according to Reuters. He recommended that investors allocate about 5% of their portfolio to gold.
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(Excerpt) Read more at businessinsider.com ...
I wonder if Singer bought some gold recently : )
Is there any way that the US can repay its debt other than inflating the dollar or repudiating it? I don’t see how it could. Growth can’t possibly be enough. I am asking this question seriously to the number crunchers out there. Is there a path to solvency in a best case scenario where we elect a conservative, get spending under control, lower taxes and regulation and put people back to work? Is there?
Yes, but governments reserve the right to pay those entitlements only to their loyal political supporters - so the the total debt owed isn't as big as the nominal figure.
for the poor undeveloped countries of the world one day is the same as the next because they have not created an artificial environment in which to survive. As it is written, the meek will inherit the earth.
I’ve read where others have said that we’ve passed the point of no return...no way back from here.
Goldbug ping.
In a word, no. It’s a demographic issue: our population isn’t growing fast enough to support the debt load. And the quality of the population growth (i.e. unskilled immigrants and their progeny) isn’t such that it will support even the servicing of the debt.
Long term, it’s either grow the economy enough to support the debt (not working very well) inflate the currency (likely) or repudiate the debt (not as likely). The question is really how long the central banks can keep the plates spinning. To their credit, so far they’ve more or less managed to do so. The good news for us is also that the US is the healthiest major economy: Europe is in far worse straits. Both regarding demographics and debt load. So, we’ll see the repercussions there first in my opinion.
I want ammo, guns, water, sanitation, ammo, oil, energy, food, ammo, people I can trust, ammo, and ammo.
Ammo will make good barter too. But precious metals and stones will be in high demand.
I don't know how its going to be paid....
all these govt workers....no way in hell we can pay them what their unions have bargained for....
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