Posted on 09/21/2008 8:54:27 AM PDT by dennisw
Weiss is strictly doom and gloom. I had to make them stop sending me the negative junk letters.
Weiss has made several fortunes selling doom and gloom. Not exactly an objective source.
QUESTION: Does Weiss work for/with Soros???? BFFs???
REVOLT...
http://www.dollardaze.org/blog/?post_id=00461
Peter Schiff’s take on recent events. I have a very hard time disagreeing with him.
With all this going on ... sounds like a good time to BUY!!!
Yet, the United States continues to grow, continues to be the envy of the world....and will continue to do so for years ahead...
Side thought. With all the doom talk regarding "the DOW plunge"......if I'm not mistaken the DOW was actually about even last week at the end of the day (even with two big down days).
PANIC NOW! BEFORE ITS TOO LATE!!!!!!
Assuming that the financial market is going to hell, and the dollar value is going to be inflated into oblivion....then it might be tru that buying a share in a company might be one of the few real things to eventually retain value, like real estate.
Or not.
Weiss has long been a perma-bear. My guess is that his newsletter subscribers have lost a lot of money over the years.
Well, they are right about one thing. We are in debt; but’s more like over 51 trillon. The subprime triggered this. Now it’s feeding on itself. Like it’s unraveling the whole thing. Rich and poor alike who are heavily into debt are going to feel this one.
I suggest everyone get our of debt as soon as you can and don’t live beyond your means. Pay off everything if you can.
I have his book. Thanks for the link!
**Side thought. With all the doom talk regarding “the DOW plunge”......if I’m not mistaken the DOW was actually about even last week at the end of the day (even with two big down days).**
My portfolio has been even to UP, even with a few minor downers. This is more hype than anything... Creating a Catastrophy so the DEMS can cover their fingerprints.
Thank you CongressRAT Pelosilini and other assorted marxist Dems. If you’d have let us drill in ANWR in ‘94, The Gas price runup would Not have been so Heavy on citizens Paychecks, thus falling late on the Mortgages, pressuring the banks, etc etc etc.
And the DEMS want MORE POWER?? Not on my vote!!
Hmm. Aussie stock market already up 3%.
this is depressing
What’s this guy selling? Gold? Commodity funds?
As an emergency precaution, the US Bureau of Engraving and Printing should print several series of very high denomination currency. Literally $100,000 to $10,000,000 bills. Keep them in reserve.
These bills would solely be for the US of financial institutions, major corporations, and the Department of the Treasury. They must be printed in quantities so that they are in a 1:1 ratio with our economy, with possession and transfer only permitted with government approval.
That is, for the first time since the gold standard, US currency would be backed by paper. And there are very important reasons for doing this.
To start with, if there is a major credit collapse, there will likely be catastrophic deflation, unless there is substantial cash in the marketplace.
Second, *only* paper money, *not* virtual money on computers, would be backed by the full faith and credit of the US government. A paper bill would be redeemable whereas leveraged money, in a credit collapse, may not be. Even if billions of dollars of virtual money was wiped out, whoever had bills would be protected.
Authorized possession of a bill would guarantee collateral *to that amount*, again after government approval, but a paper bill would be “yours”. It could not be taken away from you except as ordered by the government. And thus it will protect vital industries menaced by gigantic outstanding levered debt—they would still have credit from authorized creditors.
Finally, it would prevent the massive drain of lower denomination paper currency from the market. For while there would be terrible deflation of ordinary currency, at least there would be no big corporations stripping cash from the economy at the same time.
That is, for $1M in low denomination cash, the government could give them a $1M bill, then return the cash to banks for re-distribution to the public, preventing a collapse of the retail market.
Anyone who bets on a world depression should live the rest of their days in jail.
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.