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Audio Alert: First Greece, Then Puerto Rico, And Then This

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 Posted 07/05/2015  7:28 pm Show Profile   Bookmark this topic Add CCFPress to your friends list Get a Link to this Message Number of Subscribers
Money Metals Exchange - Coming up we'll hear a tremendous and fascinating interview with David Smith of The Morgan Report, and regular contributor to MoneyMetals.com. David recently joined Money Metals president Stefan Gleason to talk about investment psychology, how you can discipline yourself to be a successful investor and what he sees ahead for the precious metals. Don't miss an exclusive interview with David Smith coming up in just a moment after this week's market update.

Time ran out on Greece this week. And financial markets got hit with some of the most volatile trading action of the year. The Greek government was unable or unwilling to reach a financial aid deal in time to avert a default.... Read the Entire Article
Audio-Alert:-First-Greece,-Then-Puerto-Rico,-And-Then-This
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Northerncoins's Avatar
Canada
2019 Posts
 Posted 07/05/2015  9:20 pm  Show Profile   Bookmark this reply Add Northerncoins to your friends list Get a Link to this Reply
From that link:


Quote:
This week Puerto Rico narrowly averted a debt default by negotiating a refinancing deal with bond holders. It buys time, but it doesn't necessarily fix the commonwealth's financial troubles. Puerto Rico's government owes creditors $72 billion and presides over an economy with a GDP of $103 billion.

By comparison, total U.S. national debt comes in at $18.2 trillion against a GDP of only $17.4 trillion. That's right, our official debts as taxpayers exceed our entire economic output for a year.

The U.S. has a far worse debt to GDP ratio than Puerto Rico and many of the world's problem countries.


Ya I don't see things getting any better any time soon if ever. Buy some silver and gold, atleast they wont be worthless like fiat paper money when things finally go into the crapper.
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 Posted 07/06/2015  5:27 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
Yep, something that can't go on forever won't. The worse part is that when things do fall apart, the freeloaders will still blame the producers for not providing enough.
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everything's Avatar
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 Posted 07/06/2015  8:36 pm  Show Profile   Bookmark this reply Add everything to your friends list Get a Link to this Reply
Sigh, an advertisement. Gold is holding up better than silver because that's what they want, go to India, they don't want silver, or sterling. I believe au/ag will come in handy at some point.

Greece, I thought they were broke 5 years ago, well this goes to show how long you can kick the can.

It's just one of those situations, allot of people via government are living beyond their means. Business does the same thing, that's why we have bankruptcies, and golden parachutes. Plenty of pain to come, but lots of can kicking has to come first. It's better if your civilization breaks down ever so slowly, that way nobody really notices it, of course they do, and of course they'll talk about it, but the hands are still tied which is ideal, and many people have selective memories.
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