Posted on 12/20/2011 11:16:33 PM PST by SatinDoll
“Barnhardts recent publicity campaign is starting to affect her ego and her reasoning skills.”
OK. I take it you disagree with the author of the article. You may be a financial market professional and have good reason to disagree with the point of the article (that legalized theft of private property is occurring). Could you explain how thw author is wrong to us laymen?
Okay, it was amusing and cool when she ranted about muslim Satanists (which I agree with) but this is just looney bin material.
Jumped the shark.
Or at best, offer you the chance to avoid seizure of your private accounts by converting them a govt-run investment plan (taxed of course to provide similar plans for “the poor” who put nothing in but take benefits out)
After all, in the view of the marxist in the WH and those advising him, accumulated wealth is only evidence of “the rich” exploiting “the poor”, and govt-directed redistribution is the only way to achieve fairness and social justice. And 40 million indigent, envious or outright stupid people will all agree with this
“but this is just looney bin material.
Jumped the shark.”
How so?
at least this lady put her money where her mouth is and closed down her financial firm rather than continue to expose her customers to a rigged corrupt market
of course one could argue she is protecting her own assets, if any, from clawback in event of a future catastrophe that sucked in her firm
But still...
No one is talking about seizing Corzine’s personal wealth, ala Madoff, are they? The guy is still living the high life
while his firm’s customers assets are decimated
If your money is in your pocket, they’ll confiscate the cash without due process of law by claiming it could only be the proceeds of illicit drug trade, instead of your life’s savings from your salary. They’re boxing in the herd of sheep for the slaughter.
If your money is in your pocket, they’ll confiscate the cash without due process of law by claiming it could only be the proceeds of illicit drug trade, instead of your life’s savings from your salary. They’re boxing in the herd of sheep for the slaughter.
Then consider:
Trustee to Seize and Liquidate Even the Stored Customer Gold and Silver Bullion From MF Global
17 December 2011
http://jessescrossroadscafe.blogspot.com/2011/12/attempt-to-seize-and-liquidate-customer.html
“The bottom line is that apparently some warehouses and bullion dealers are not a safe place to store your gold and silver, even if you hold a specific warehouse receipt. In an oligarchy, private ownership is merely a concept, subject to interpretation and confiscation.
Although the details and the individual perpetrators are yet to be disclosed, what is now painfully clear is that the CFTC and CME regulated futures system is defaulting on its obligations. This did not even happen in the big failures like Lehman and Bear Sterns in which the customer accounts were kept whole and transferred before the liquidation process.
Obviously holding unallocated gold and silver in a fractional reserve scheme is subject to much more counterparty risk than many might have previously admitted. If a major bullion bank were to declare bankruptcy or a major exchange a default, how would it affect you? Do you think your property claims would be protected based on what you have seen this year? .......”
smart move to cash out...
I did that over a year ago
The problem with OWS is one of the problems with liberalism/progressivism in general, which is that on the whole, they're pretty smart about identifying a problem (though in many cases the problem may be exaggerated or entirely manufactured). However, they infallibly promote exactly the wrong idea of the problem's root causes and therefore the exactly wrong solution to the problem.
With OWS, their fundamental flaw stem from two basic problems:
I was aware of this but have wondered why we don’t see anyone on TV scared witless for their future and crying out loud.
I keep thinking it’s a matter of time.
Ping. More background on why Ann is so pissed, and acting as she is.
I have heard this before but don’t understand how it works.
Can you explain, please?
It’s simple.
Hyperinflation.
We are headed in that general direction, but nobody knows when.
The government cannot simply keep on printing up money, but they almost have no other choice now. This has happened throughout history and now all checks and balances have been removed since the dollar is a fiat currency.
So they will print money, thereby diluting the value of the currency - in effect, robbing all who hold anything of value, but especially banknotes.
Prices will rise dramatically, but so will incomes - at some point your big mortgage and debts will be at about the price of a loaf of bread.
The problem usually is that during a severe hyperinflationary crisis such as that, or the one that occurred in Weimar Germany, property often becomes worthless too as the tax thieves begin to steal the property of anyone who has property.
During the hyperinflation in Weimar Germany, property taxes and wealth taxes went up so drastically (theft by government) that landlords would often just hand over the keys to tenants to escape it.
Obama has already done this to GM and Chrysler bondholders... stolen their property and turned it over to the Autoworkers unions. Something that heretofore had only occurred under Communism.
The next grand theft just happend at MF Global, where nobody has yet gone to prison, yet peoples’ private property was stolen - to the benefit of the big crooks at JP Morgan. People had gold bars with serial numbers in storage there, and these bars were looted to pay off Corzine’s gambling debts. This is as if you had a car in paid storage at the neighbor’s garage, and when he went bankrupt, they took your car when he defaulted on his garage loan. MF Global was a commodities broker holding customer property, but the bankruptcy papers were fraudulently filed as if it were a brokerage house - hardly a mistake, since JP Morgan made sure that this fraud took place - thereby stealing the property of the little guys who should have been protected, and making sure the JP Morgan did not lose a fortune.
The system is broken, and badly so.
This will end in war as it always does.
The next t
Understand all of that. It’s the “You’ll be able to pay your mortgage and/or debt off for next to nothing” that I don’t understand.
{{{crickets chirping}}}
It should be easy to explain how she is wrong then.
It's simple if you think about it...
Hyperinflation basically wipes out all debt as the value of currency collapses.
Money becomes almost worthless - the second picture on the top right shows that in Weimar, Germany the hyperinflation devalued the German Mark so much that it was more economical to burn the banknotes than use them to buy firewood or coal. The woman in the picture is doing just that.
Suppose you have a $100,000.00 mortgage.
The dollar becomes so devalued, that a loaf of bread costs, say, $100,000.00 - so you are on your way to the store to buy two loaves of bread... you can simply opt out of one and use the money to pay off your $100,000.000 mortgage on the way to the store.
This has happened not just once in Weimar, Germany, but periodically throughout the world, most recently and famously in Zimbabwe.
Hyperinflation Has Occurred in 21 Countries Over the Past 25 Years.Thats nearly 1 country every year!
This time, it is setting up to be a global catastrophe, as all currencies have long ago become 'fiat currencies', and all banks under Basel II are allowed to be technically insolvent - with accounting tricks allowing them to bend and stretch to reach a disturbing 8% capital to overinflated assets ratio.
It can't happen here...
Hyperinflation has recently occured here:
1. Angola (1991-1999) - new kwanza = 1,000,000,000 pre-1991 kwanzas.
2. Argentina (1975-1991) - 1 new peso = 100,000,000,000 pre-1983 pesos.
3. Belarus (1994-2002) 1 new ruble = 2,000 old rublei.
4. Bolivia (1984-1986)
5. Brazil (1986-1994) - 1 (1994) real = 2,700,000,000,000,000,000 pre-1930 reis.
6. Bosnia-Herzegovina (1993) the highest denomination was 10,000 dinara in 1992 and 10,000,000,000 dinara in 1993.
7. Bulgaria (1991-1997) A currency board established in July 1997 slashed three zeroes off the currency.
8. Ecuador (2000)
9. Georgia (1995) 1 new lari was exchanged for 1,000,000 laris.
10. Madagascar (2004)
11. Mexico (1994)
12. Nicaragua (1987-1990) 1 old Cordoba = 5,000,000,000 pre-1987 cordobas.
13. Peru (1984-1990) 1 nuevo sol = 1,000,000,000 pre 1985 soles de oro.
14. Poland (1990-1993) 10,000 old zlotych were exchanged for 1 new zloty.
15. Romania (2000-2005) - 10,000 old lei = 1 new leu
16. Russia (1992-1994) - In 1993 the annual rate was 840%
17. Turkey (1990′s) - New Turkish Lira; 1 was exchanged for 1,000,000 old lira.
18. Ukraine (1993-1995) 100,000 karbovantsivi = 1 hryvnya
19. Yugoslavia (1989-1994)one novi dinar = 1,300,000,000,000,000,000,000,000,000 pre-1990 dinars (thats alot of zeros there).
20. Zaire (1989-1996) One 1997 franc = 300 billion pre-1989 dinars.
21. Zimbabwe (1999 present) - no new currency is introduced yet. As shown in last blog they are considering gold backed currency.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.