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Debt Denial (You'd Better Be Sitting Down Before You Read This)
The Daily Caller ^ | April 9, 2010 | James Rickards

Posted on 04/10/2010 6:17:30 AM PDT by Rutles4Ever

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To: Rutles4Ever

Easy to understand this man’s reasoning


61 posted on 04/10/2010 5:47:42 PM PDT by dennisw (It all comes 'round again --Fairport)
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To: raybbr
I'll say it again, the problem with gold is that its value is entirely based on psychology and psychiatry, and not on economics or physics. The only two uses there are for the stuff are for jewelry and electrical connectors, and Fort Knox contains billions of times what the planet will ever need for jewelry or connectors.

The only other thing it could conceivably be useful for would be waterfowl shot. It's half again denser than lead, soft, and totally inert. You could kill geese with 2.75" shells.

62 posted on 04/10/2010 5:57:00 PM PDT by wendy1946
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To: lentulusgracchus

Not really. The US has long been a believer in having bases everywhere. But the price of this immense network has become unsustainable.

According to the Defense Department’s annual “Base Structure Report” for fiscal year 2003, which itemizes foreign and domestic U.S. military real estate, the Pentagon currently owns or rents 702 overseas bases in about 130 countries and HAS another 6,000 bases in the United States and its territories.

The military high command deploys to our overseas bases some 253,288 uniformed personnel, plus an equal number of dependents and Department of Defense civilian officials, and employs an additional 44,446 locally hired foreigners. The Pentagon claims that these bases contain 44,870 barracks, hangars, hospitals, and other buildings, which it owns, and that it leases 4,844 more.

These numbers, although staggeringly large, do not begin to cover all the actual bases we occupy globally. The 2003 Base Status Report fails to mention, for instance, any garrisons in Kosovo — even though it is the site of the huge Camp Bondsteel, built in 1999 and maintained ever since by Kellogg, Brown & Root.

The Report similarly omits bases in Afghanistan, Iraq, Israel, Kuwait, Kyrgyzstan, Qatar, and Uzbekistan, although the U.S. military has established colossal base structures throughout the so-called arc of instability in the two-and-a-half years since 9/11.

For Okinawa, the southernmost island of Japan, which has been an American military colony for the past 58 years, the report deceptively lists only one Marine base, Camp Butler, when in fact Okinawa “hosts” ten Marine Corps bases, including Marine Corps Air Station Futenma occupying 1,186 acres in the center of that modest-sized island’s second largest city. (Manhattan’s Central Park, by contrast, is only 843 acres.)

The Pentagon similarly fails to note all of the $5-billion-worth of military and espionage installations in Britain, which have long been conveniently disguised as Royal Air Force bases. If there were an honest count, the actual size of our military installations would probably top 1,000 different bases in other people’s countries, but no one — possibly not even the Pentagon — knows the exact number for sure, although it has been distinctly on the rise in recent years.


63 posted on 04/10/2010 6:25:26 PM PDT by yefragetuwrabrumuy
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To: yefragetuwrabrumuy
So what's your bottom line?

"Ron Paul is right"?

64 posted on 04/10/2010 6:35:42 PM PDT by lentulusgracchus
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To: Jim Noble
But, if and when gold is remonetized after the collapse of the Fed, to allow the Treasury to issue banknotes again, you can bet there will be a ferocious G-20 wide attempt to outlaw private buying and selling of gold. As in the USSR, it could easily become a capital offense.

Which is why I continue to buy SLV and "junk silver", just old good-condition US coins from back when they were 90% silver; and so forth. I've always kinda liked the white metal better than gold, anyway.

65 posted on 04/10/2010 6:35:54 PM PDT by Christian_Capitalist (Taxation over 10% is Tyranny -- 1 Samuel 8:17)
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To: lentulusgracchus
You know what they WILL be saying, though:

MORE!! It ain't enough. MORE!!


66 posted on 04/10/2010 6:40:09 PM PDT by ProtectOurFreedom
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To: Huebolt

No, Krogers doesn’t have to accept dollars for their merchandise. That is a misunderstanding of legal tender laws. It may benefit Krogers of course, but that’s another issue.


67 posted on 04/10/2010 7:01:46 PM PDT by Freedom4US
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To: metalcor

The peoples wanted pah. Obama promise ‘em pah fum his stash. Ah likes pah too. Wheay’s MAH pah?


68 posted on 04/10/2010 7:08:38 PM PDT by ichabod1 (Can around 25-30% moonbat base really steal the country from us and hold it?)
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To: snowrip
I work at a job where I meet with clients from all walks of life, at all income levels. Every week I meet more and more people who are buying weapons and ammunition, and stockpiling food. This is serious, and people are taking it seriously.

One day, the cartridge may become the coin of the realm.

69 posted on 04/10/2010 7:31:07 PM PDT by Theophilus
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To: lentulusgracchus

Not entirely. But as with the military base closings in the US some years ago, and the gradual withdrawl of bases from Germany, the US needs to reach agreements with lots of countries to turn many of our bases back to local control, only keeping contingencies for them to be reoccupied as needed in the future.

In other cases, bases are kept for very unimportant reasons, and could be closed down with ease.

But unlike Ron Paul’s isolationism, I will grant that there are some critical mission bases that the US needs for strategic purposes.

One I am truly surprised we got rid of was Subic Bay in the Philippines, because there are only a few deep water ports in the Pacific able to support our fleet. The only two complete ports are at Bremerton and San Diego. But Subic Bay was pretty close.

We also need Diego Garcia, Pusan, possibly Okinawa and other Japan bases, but the Japanese are losing favor with those over the years, and a couple dozen more bases hither and yon.

It is a major project to shut down bases, and also expensive, so we shouldn’t delay in getting started. The bottom line is that the Pentagon needs those cost savings as soon as possible, because things are not going to get any easier in the future.


70 posted on 04/10/2010 7:39:54 PM PDT by yefragetuwrabrumuy
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To: Theophilus

All of my friends have gone for their ccw and have bought ar15 s this year.


71 posted on 04/10/2010 7:41:51 PM PDT by GlockThe Vote
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To: Prince Caspian

Gold only has value because people think it valuable... just like paper money. Gold does nothing to help a person survive, or for that matter... help anyone do anything.

It’s just a symbol that people value. Just like in a drought, that symbol is water... or in a famine, food.


72 posted on 04/10/2010 9:39:42 PM PDT by gogogodzilla (Live free or die!)
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To: Prince Caspian

“You don’t eat the gold anymore than you would eat a $5 bill. It’s what the gold will BUY.”
_______________________________________________________
So, if I want some “change” back from a bar of gold when I buy a loaf of bread, seems silver would be better than gold.


73 posted on 04/10/2010 10:02:45 PM PDT by JouleZ (You are the company you keep.)
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To: Rutles4Ever

I thought I heard the Democrat welfare staters in Detroit say that Ubama was going to give them free money “from his stash”? Ubama can make everything good by using money from his stash. There’s no need to worry.


74 posted on 04/10/2010 10:18:15 PM PDT by Lancey Howard
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To: Rusty0604; Painesright

When do you think this will happen?

With amnesty, cap and trade on the agenda for this year, do you think it will be 2010? 2011? or after 2012?

I have wanted to move the 401K, but my husband has been working for the same company since college. In fact, we have been told we can’t touch it at all. And hubby is uncomfortable with the loan idea. I would very much like to try to protect it.


75 posted on 04/10/2010 10:28:39 PM PDT by TruthConquers (Delendae sunt publicae scholae)
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To: Bloody Sam Roberts

The premise is a wholesale rejection of sovereign debt. If that premise comes true a five-fold increase in safety havens would be nothing.


76 posted on 04/11/2010 5:15:20 AM PDT by Rippin
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To: Bloody Sam Roberts
Is there any reasonable expectation that gold will hit this level?

Yeah, when that Happy Meal at Mc'Ds is $100....

If we take the hyperinflation exit, it's not that unlikely.
77 posted on 04/11/2010 5:19:21 AM PDT by Kozak (USA 7/4/1776 to 1/20/2009 Reqiescat in Pace)
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To: Rutles4Ever
We are screwed.

Yay! My girlfriend has been away this weekend, so I've been lonely.

78 posted on 04/11/2010 5:24:54 AM PDT by Lazamataz ("We beat the Soviet Union. Then we became them." -- Lazamataz, 2005)
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To: Rutles4Ever

Remember when AR Bill spoke of surpluses for as the eye could see. And the American people were believers! They actually thought too they would collect a “peace dividend”.


79 posted on 04/11/2010 5:26:23 AM PDT by Theodore R.
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To: El Laton Caliente

The $1 today was 3.6 cents in 1914.


80 posted on 04/11/2010 5:26:48 AM PDT by Theodore R.
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