The Day the Dollar Died

[banca rotta]

http://www.youtube.com/watch?v=2N8gJ...ayer_embedded#!


Pretty scary.

[carlsbadmike]

This is very scary!

[banca rotta]

This is very scary!

Correct! And that's a good thing. That is why this WON'T happen if more and more Americans are scared of this.

If people dismiss this as more doom and gloom and go about life as usual and ask for more handouts from the govt then this is pretty much how it will come down.

Sadly tomorrow on black Friday this will be the last thing on most people's mind.

[frogger]

If people dismiss this as more doom and gloom and go about life as usual and ask for more handouts from the govt then this is pretty much how it will come down.

But people are going to dismiss it and continue to ask for handouts. The next few years are going to be very interesting in our country.

[WhatMoney]

More fear mongering I see, banco. That video was produced by the NIA, and is just another in their series of inflation and fear propaganda in order to hype gold and silver companies. They also support other right-wing causes like attacking the Health Care Bill and trying to scare Americans about Mexican children. Precious metal companies attract gullible investors by spreading doom and gloom - they have doing this since the 1970's. Any suckers that believe this stuff and buy gold and silver near it's peak deserve to lose their money.

National Inflation Association | Using fear to push investments
Tuesday, November 9th, 2010

This morning, the National Inflation Association was cited in a push for Food Insurance. The National Inflation Association is an organization, headed by Gerard Adams, that profits off fear of inflation. Given that Glenn Beck has gotten into trouble for pushing gold, and the National Inflation Association connection to gold, the statistics of the Association need to be carefully examined.

Who is behind the National Inflation Association

The National Inflation Association is run by Gerard Adams. Adams is a stock analyst who also runs the newsletter “Wall Street Grand,” which offers advice on which stocks to buy and sell. The National Inflation Association website states that:

“One of our missions at the National Inflation Association is to profile companies that we believe will prosper in an inflationary environment. Typically we will bring to you producing, profitable, Gold and Silver companies.”

Given that Gerard Adams makes his living off the buying and selling of stocks, it is logical to assume that he stands to gain or lose based on the recommendations made about stocks by the Association.

The Glenn Beck connection to The National Inflation Association

On his November 9 radio show, Glenn Beck cited figures from the National Inflation Association in his push for “Food Insurance.” One of the stated sponsors of that hour of the show, Food Insurance has been giving Beck money to push their product. Beck has, in the past, been connected to improperly promoting gold and silver on his shows. Beck does endorse Goldline International, which is also one of the gold and silver dealers promoted and listed on the National Inflation Association website.

What this means for the National Inflation Association

The National Inflation Association is a group that encourages fear and worry about possible inflation in order to sell gold and silver. Many of the claims made by the National Inflation Association are highly questionable, such as the assumption that a depression leads to an increase, not a decrease, in most prices. In short, while the National Inflation Association may make some legitimate claims, the source of the material simply must be considered.
By Mary Rice
http://personalmoneystore.com/moneyb...n-association/

[banca rotta]

Hey Happy Thanksgiving WhatMoney!!!

Hope you got a lot of bargains this black Friday.

Just curious since I don't really investigate every member's case. Just want to know if you really understand the true meaning of bankruptcy?

Pretty much everyone here understands it.

What's your story?

Long story short it's when one's debt exceeds what they can ever hope to pay back, so the creditors pretty much don't loan the debtor anymore money and the debtor must live within their means. Some serious belt tightening.

Of course if you are Uncle Sam then you can just counterfeit the money which destroys it's value.

Anyway hope you had a good shopping day and I will see ya around!

[WhatMoney]

Hey Happy Thanksgiving WhatMoney!!!

Hope you got a lot of bargains this black Friday.

Just curious since I don't really investigate every member's case. Just want to know if you really understand the true meaning of bankruptcy?

Pretty much everyone here understands it.

What's your story?

Long story short it's when one's debt exceeds what they can ever hope to pay back, so the creditors pretty much don't loan the debtor anymore money and the debtor must live within their means. Some serious belt tightening.

Of course if you are Uncle Sam then you can just counterfeit the money which destroys it's value.

Anyway hope you had a good shopping day and I will see ya around!

Ah Ha, now I see your problem banco. You think the bankruptcy rules apply to the US government. Sorry, you never need to go bankrupt if you can print the money. So until someone other than the US government decides our currency is counterfeit - there is JUST NO PROBLEM. I hope I cleared that up for you.

I am still recovering from too much turkey and dressing. But I have ignored Black Friday and do not play on spending a penny this weekend. However if I do, I won't mind using counterfeit money - because it still works for me.

[onwards]

No inflation without demand, and no demand without job growth. That's pretty simple, no matter how many dollars the fed prints.

That's why further fiscal loosening is good NOW (short term) and tightening is good LATER (mid-term). And that's why the idiots now in charge of congress will hurt us far more than the idiots who were there until this last election ever could have.

[msm859]

No inflation without demand, and no demand without job growth. That's pretty simple, no matter how many dollars the fed prints.

That's why further fiscal loosening is good NOW (short term) and tightening is good LATER (mid-term). And that's why the idiots now in charge of congress will hurt us far more than the idiots who were there until this last election ever could have.

It will be "interesting" the next few years. It will also be interesting how California does. The Republicans did not win a single seat in Congress and state wide it was a Democratic sweep.

[banca rotta]

No inflation without demand, and no demand without job growth. That's pretty simple, no matter how many dollars the fed prints.

That's why further fiscal loosening is good NOW (short term) and tightening is good LATER (mid-term). And that's why the idiots now in charge of congress will hurt us far more than the idiots who were there until this last election ever could have.

I wish it were that simple. If the US were self sufficient that would be the case.

The big worry is oil. When we are so dependent on oil and the oil cartel wants nothing to do with the printed dollars I don't see how this won't be inflationary no matter how little demand there are for ipods and other things.

Yes the newly elected bunch of idiots will most likely hurt us just as much as the old bunch of idiots.

Other then Ron Paul no other politician in either party has the courage to end these wars and reduce entitlements. The deficit and debt are just too large to make any reasonable cuts. Everyone will feel the pain and no one wants to.

Too many people on all sides with their sob stories on why we should keep their entitlements and cut the other guys. AS for the ultra liberals that want to tax the rich there just aren't enough rich to tax.

[banca rotta]

It will be "interesting" the next few years. It will also be interesting how California does. The Republicans did not win a single seat in Congress and state wide it was a Democratic sweep.

California will most likely get a federal bailout as well as Illinois and the rest of the states will line up for their bailouts.

The pension deficits are just too massive.

I say by late 2011 Uncle Ben will issue QE3, 2012 will be QE4 and so on and once world wide market psychology see then what some of us see now it will hit the fan.

You can't put a time and date on this it's just market psychology that will change everything.

[catleg]

You might like this video too.

and this one is awesome.

[BROKEDED]

banca rotta - I saw that video right after it came out and laughed when they mentioned QE4 as if it was a jab at QE2 like it was another Freddy/Jason horror sequel. NIS makes some excellent videos but they, supposedly, have some pump and dump and pay to promote characters associated with them. Then again, what "legit" financial institution doesn't? That being said, just a few days after that I saw that Bernanke was quoted as saying that he had not ruled out QE3. WTF?!?!?! Believe what you want. I'm just a poor semi-skilled laborer with a little bit of college...not an economist, but my take on the entire situation is pretty grim. I'm beginning to think a few of my associates are starting to shun me because of my doom and gloom predictions. LOL If I'm right then I may end up as the ant while some others end up as the grasshopper. If I'm wrong then I'll just look like a Chicken Little with a diverse portfolio. haha

My take is this...we're ALL going to hell in a handbasket!!!!!!!!! aaaaAAAAAHHHHhhhh Actually, I really don't see a good ending. We continue to deflate our currency however we don't make anything and the rest of the world is in no better shape so we're not exporting goods that will bring back jobs and manufacturing. We have pumped up other third world economies for so many years in the name of democracy so that if there is a Global recovery the US will be far less significant as a buyer of goods making us less important and I can see many economies depegging themselves from the dollar which greatly reduces our ability to manipulate markets and other countries thus further reducing our Global economic importance.

THAT is where default comes in. It's not much different than what has happened to alot of people on here. People buy things with cash. At some point they want or need more than they can afford so they buy things on credit because they are comfortable doing it since they've had a steady stream of increasing income for years from the same place where they've worked themselves to the top of the corporate ladder. Then, their pay is reduced because of bad times or they have to look for a lesser paying job some place where they are not valued the same. Then they can't get credit or what they can get has a much higher interest rate. At that point it becomes a waiting game for some event that's going to push them over the edge whether it be home repair, education, medical, retirement, etc...and the whole thing comes collapsing down.

Inflation has already hit big. Healthcare is UP, Oil is really UP, and some Foods are really really UP. The only thing down is housing that no one can afford even with interest rates at historic lows.

I use to think the Gold Bugs were silly since in a economic or social meltdown you can't eat it, drink it, or breathe it. But my views have changed. I've seen JPMorgan manipulating the silver market and supposedly sitting on huge amounts of naked shorts (which is illegal if I'm not mistaken), Morgan Stanley being fined millions for charging PM storage fees for PMs that they don't hold, and even stories of 400 oz gold covered tungsten bars floating around the treauries of the world supposedly linked to the US and/or China. The biggest Silver ETF in the world made a basket order for 523 tons of silver less than two months ago and silver prices did nothing, in my opinion. You would think that would have created some type of squeeze on supply but nada.

I believe there's not enough Gold or Silver in supply to cover a rush. The banks are using the fractional reserve banking method with PMs just like they do with our fiat currency and that is a very bad thing in a collapse. Of course they're "banking" that they'll never have a rush for the physical stuff and if they do then they'll show all the certificate holders the fine fine fine print at the bottom that says they can be paid in worthless paper instead of the real deal. Reaction from there being no food on the store shelves will pale in comparison to the anger and wrath this country will see from investors when they go to pick up their gold and silver fortunes they've amassed only to find out that it's not there.

My thoughts are that Gold and Silver are high right now...uncomfortably high for me to buy...but even if there was a major correction I don't think it would stay there long. Physically holding PMs are long term investments and are best used for emergency planning and a retirement safety net in my opinion. I just don't see a good alternative for protecting ones purchasing power other than Gold or Silver. It makes me sick after watching my 401k drop over $50k in 2008 from which I still haven't completely recovered and to know that the only way for me to get that money before a collapse would be to quit or get fired. I have no provisions for In-Service Distributions available to me other than a loan so that left me with dropping my contributions to a minimum to get matching funds and opening Roths and using cash.

I'm afraid the Doom and Gloom are still ahead. I hope I'm wrong! But I think our government is trying frantically to keep a straight face while prolonging the inevitable. Reminds me of Paul Reuben in Buffy the Vampire Slayer.