Posted on 05/01/2010 10:33:11 AM PDT by Errant
...if you start to see a great depreciation of the U.S. currency or a tremendous increase in lack of confidence in the soundness of the government's fiscal condition, there is a problem. You mentioned Greece, for example. The sovereign solvency issues there are minuscule compared to what we have with the United States, which is the elephant in the bathtub. The markets know it's there. The central bankers know it's there. Again, with the downturn in the economy, all the issues are going to be brought to a head. As they come to a head, there will be that effort to dump the dollar...
(Excerpt) Read more at marketoracle.co.uk ...
Not really. Dave Ramsey teaches people to pay off their existing debt - which is great.
However, Dave Ramsey doesn't teach people that ALL money is debt - making people either "masters" or "servants/slaves".
Our economic system is the problem, and even going to a gold and silver currency would do absolutely nothing to fix it.
It's not until we have an economy where transactions are based upon "completed labor" instead of "claims on future labor" that we can truly be free and have liberty.
In the meantime - "Our chains are forged, their clanking may be heard on the plains of our nation".
“I think a new skill that will emerge is the ability to hunt down politicians and bankers.”
Forming a posse ?
Where do I sign up ?
Do we take prisoners ?
What are the ROE ?
No mercy?
Thank you for that info. As more and more people lose their jobs, they won’t be able to keep up with inflation, I fear.
I have seen several videos on what you’re talking about. Most have said that the system was destined to collapse for 50 years or even more.
So why does the rest of the world accept our currency as it’s reserve if it’s all backed by only a promise to pay? Why can’t they just do the same and find/create debt and print money?
Can’t you monetize from basically anything like commodities as well?
I’m sure the answer lies with the World’s Central Banks.
So the rest of the World is fiat currency as well then?
What years? What were the GDP numbers and inflation rates?
Because the rest of the world doesn't really have a choice if they want to participate in international trade. Most all international transactions are settled in US dollars.
Why can’t they just do the same and find/create debt and print money?
The world's central banks (controlled by the international banks) only create new base money at the behest of the international banks. China's government can't decide to monetize without the People's Bank of China (PBOC - central bank) causing it to happen.
Can’t you monetize from basically anything like commodities as well?
The central banks can monetize based on anything they want. The Fed is creating new money to buy Mortgage-backed Securities and Agency debt - even though that newly created money is not circulating in our economy.
I’m sure the answer lies with the World’s Central Banks. Yep.
So the rest of the World is fiat currency as well then?
Yes - but "fiat" currency isn't necessarily the issue. The problem is a debt-based money supply. Gold and silver aren't any better as currency if they are debt-based.
Just wanted tothank you both for your dialogue, it’s very informative to watch and learn. Thanks Again.
Ditto.
Often times I will post an article that I don't know one thing about just so that I can read the discussion of others.
Thanks for the education.
How much control do they have over the bogeymen, like Russia and China?
I will assume that Iran and NK are not part of the industrialized world? And that has a lot to do with us being in the Middle East?
Theres the answer to my above question.
Why would the Fed try to steal assets from anyone?
I hope you dont tired of answering questions.
Would you give an example of a man being paid in a completed labor economy?
My brain keeps telling me gold is money but I know enough about God and His ways to realize things are not as they seem.
See “new world order”
Duh, You're right. I was trying to say "inflationary depression" in my dyslexic way.
I don't agree with you. Upon the collapse of a monetary system, anything used for money and physically held with an underlying value such as gold or silver (vs notes, paper certificates or securites) will always be better. The same can be said during a period of high inflation.
I think that precious metals like Gold and Silver, although better than paper fiat money, won't be a lot better if things really 'hit the fan'. Canned goods, ammunition, clean water, warm clothing, and such will be of much greater value and will be tradable. Tools and the skills to use them will also have great value. Best to hide the gold and silver (especially gold) until order is restored, and then use it to attain goods and money when orderly exchange again exists.
Now, if extreme inflation occurs, metals and commodities represent a great store of wealth.
http://www.globalresearch.ca/index.php?context=va&aid=18940
Big Banks want global government
In a speech before the elitist Council On Foreign Relations organization in New York earlier this week, President of the European Central Bank Jean-Claude Trichet called for the imposition of global governance to be bossed by the G20 and the corrupt Bank of International Settlements in the name of safeguarding the global economy.
More from the link
The BIS is a branch of the of the Bretton-Woods International Financial architecture and closely allied with the Bilderberg Group. It is controlled by an inner elite that represents all the world’s major central banking institutions. John Maynard Keynes, perhaps the most influential economist of all time, wanted it closed down as it was used to launder money for the Nazis during World War II.
Financial website Investors Insight describe the BIS as “the most powerful bank you’ve never heard of,” labeling it “the most powerful financial institution on earth”.
The bank wields power through its control of vast amounts of global currencies. The BIS controls no less than 7% of the world’s available foreign exchange funds, as well as owning 712 tons of gold bullion.
“By controlling foreign exchange currency, plus gold, the BIS can go a long way toward determining the economic conditions in any given country,” writes Doug Casey. “Remember that the next time Ben Bernanke or European Central Bank President Jean-Claude Trichet announces an interest rate hike. You can bet it didn’t happen without the concurrence of the BIS Board.”
The BIS is basically a huge slush fund for global government through which secre transfers of wealth from citizens are surreptitiously handed to the IMF.
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