JFK

no shit

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DWB

I don't know what will happen, but to say it CAN'T is simply being naive. History says it can and probably will.

Germany, Russia, Argentina... all crashed. And while the USA's Great Depression may not have been an official "collapse" it may as well have been.

Then you have Iceland and Greece who recently needed a bailout to prevent a full economic crash, and it looks like Greece is going to need another one and Portugal is not far behind.

It happens.

And in case you've been living in a cave, there are already riots and protests in many places in the world. But the last place you're going to see anything like that, at least on a serious level, is in the USA. Americans will simply take their medicine as it's served to them. They are going to take every long stroke up the ass that is given to them and pay 30% of their income for the privilege to get it, because American Idol is more important than congress renewing The Patriot Act and the TSA groping their children.

L-Pink

What a sad fucking dead on assessment of the general public as well as our media.

It's embarrassing.

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Emil

So you mean that the world will continue to accept the dollar forever? That USA dont have to produce any gods, they can just continue to print the fucking dollars and give it to the world in exchange for gods? Are you insane? The federal reserve keeps printing more and more all the time! You cant keep a inflating currency forever! That goes for ALL fiat currencies in the world but the US dollar is abused right now, they keep pumping in more and more dollars.

Of course gold will go down, but no one knows WHEN. It's called wealth cycles, nothing continues to grow forever. When gold and silver are bid up too far it will begin to go down.

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Redrob

The Federal Reserve Bank and Wall Street Financial concerns have to figure out how to screw the baby boomers out of their retirement savings and get away with it. This isn't the first time banks or Wall Street has helped themselves to seniors' savings.

It will probably come during a Republican administration that will try and divert public attention to another "crisis" like "porn addiction" so the DOJ can be focused else where while the finance industry runs amok.

Remember, Lincoln Savings and Loan, Charles Keating, the Citizens for Decency Through Law, the Meese Commission, and your grandparents getting their retirement money stolen. I think it was a dry run for the futrure.

Link to article on the CDL and Keating

Link to Lincoln Savings and Loan Article

I am also always concerned if the government declares any "national crisis" and tries to take control of the media. If you see your "news" options dwindling, that will be a first sign to duck and cover.

Now think about the Republicans trying to shut down/defund NPR and PBS, two public watchdogs.

Just my opinion.

Emil

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wig

No, it means that its really amusing to see where you get your information from.

When I was a Gov't bond dealer in the late 80's we were laughing at these guys and their predictions of a collapse of the US Gov't and the US Bond market.

You were in diapers then, so you probably have no idea how long they have been peddling what you're peddling.

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The Demon

Considering the fact that your only argument is "they're wanted by the feds, therefore ALL of their stuff is fake", I think I'm in a great position.

I'm sure you were also laughing at Peter Schiff who predicted the housing bubble bursting and the financial collapse. Good show

What I'm peddling seems to be happening pretty accurately right now. I appreciate teh vote of confidence.

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wig

It's not an argument so much as an observation. They've been peddling newsletters and books for decades calling for the collapse. Maybe after 40 years of yelling "fire" they'll be right, but that's their record.


Schiff's been right on somethings and wrong on others. Like most procrastinators. I know you are an admirer and probably have all his youtube videos bookmarked. Hoorah!

No, you like many people here use your political ideology to inform your economics, science and medicine rather than the other way around.

And you routinely regurgitate doomsdayer rhetoric, calling for hyperinflation, stating that the world is in a global depression, etc. which have not happened.

I'm glad you've got some capital gains on your bag of silver, but it's hardly worth taking a victory lap over.


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The Demon

Maybe, maybe not. But it wouldn't be above you to randomly discredit the source because you didn't like it. It happens all the time here.




I've made a lot of money listening to him so sure. I don't recall what he was wrong about.


No, you like many people here use your political ideology to inform your economics, science and medicine rather than the other way around.

I think you need to look up the word "routinely" and then try to reapply it to my current economic postings. You'll find that there's nothing "routine" about them, nor do I recall the last time I posted a doomsday scenario in a month or so. I guess you "exaggerate" a lot. And when I DO call for hyperinflation, I said it's a likely, even inevitable scenario in the next few years to a decade, I never claim it's happening now. Also, depending on what "facts" you look at, the world IS in a global recession/depression.

Yup, it was just silver. Not certain stocks, emerging markets funds, central american funds, etc..

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DWB

Interesting observation.

I have no idea how old you are. Baby boomer?

Kiopa_Matt

True, I was being naive. Never say never, and all that jazz.

Those are individual countries. If the US crashes, the whole world crashes. There's enough wealth and power floating around to prevent it if necessary, and at the current point in history, I don't believe it's in the best interest of the wealthy and powerful to have a full out global economic collapse.

Totally different ballgame, and you know that.

Exactly. The leaders of the middle east are just brutal assholes, whereas the leaders of the West are far more intelligent and meticulous. In the West, they have everyone's minds squeezed tightly in a vice grip, letting them know as long as Facebook is still online, everything is ok.

The leaders of the Middle East didn't have that type of mind control and manipulation over the populous. You live in Thailand, so I'm sure you know how it goes. Around here, people don't talk about "Thailand's Got Talent". They talk about the red-shirts storming parliament and taking over the government. Same shit, different pile.

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Houdini

After the Treasury department was going to dip into gov pensions, I thought, "I bet someday they'll try to raid 401k's."

"Bank of America (BAC, news), JPMorgan Chase (JPM, news) and Wells Fargo (WFC, news) are adding staff, creating easier-to-use technology and competing on fees in an effort to win a bigger share of the trillions of dollars in 401k savings plans.
JPMorgan almost doubled its sales force dedicated to selling retirement-plan services to employers in 2010, says Michael Falcon, whose job as head of retirement in the U.S. and Canada for the bank’s asset management unit was created in January. “It’s one of the top priorities” at JPMorgan, he says."

http://bajansunonline.com/big-banks-...01k-trillions/

Bladewire

That's part of a story from MSN that site lifted, not the FULL story.

"Increased competition from banks may lead to lower costs and more choices for employers and savers, says Laura Pavlenko Lutton, an editorial director in the mutual fund research group at Morningstar.

And it may mean less revenue for the top three 401k administrators: Fidelity, Aon Hewitt and Vanguard, which together had 43% of the market at the end of 2009, compared with a combined share of less than 10% for Bank of America, JPMorgan and Wells Fargo, according to Cerulli."

Fidelity & Vanguard got bailout funds

Interesting that Chase , B of A, Wells Fargo, and Citigroup got over $15 billion in bailouts [source] so they could lend to consumers again , but they seem to be putting more effort into the 401k push

An ominus quote from the [source] "Where the money went is not clear."

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MrMaxwell

But that is the point... The $1000 debt is still a $1000 debt. And if what it's made of (dollars) becomes all but worthless.. Well, those dollars will be far far easier to acquire and the debt will be worth a lot less to whoever is holding it.

What are they going to try to make your debt into what a dollar was supposed to be? A certain amount of metal? I don't see how they can do that. You owe dollars, you pay dollars.

The only way you wouldn't be able to pay off your debt is if the currency completely crashes and is no longer accepted as legal tender. But then, why would a debt enumerated in dollars still be valid, anyway??

Coup