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 Replies: 58 / Views: 3,473 |
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Valued Member
United States
236 Posts |
quote:
Originally posted by Metalman
If the Dollar fails ,, what would you use to pay the 8,000 DOLLARS with ,,and why would it still be valued in Dollars ?
Wellz Rick I think we are seeing the banks are making a mad scramble to get what they can get- and with the Credit Cards they put out at horendous interest rates they are succeeding in doing what Thomas Jefferson said- and I quote" "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."
why do you drive on a parkway and park in a drive way ?
You know I think everything has to adjust once it reaches a certian point, it has happened before with the depression and its invariably going to happen again no doubt !!
but it wont be because of metals,, those are controlled by a minority, if they want price increases they withhold supply and increase demand ,,with articles like the one mentioned .
Rick
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Pillar of the Community
Belgium
2078 Posts |
@ Habiru My grandfather spend the war in the free south of france vichy regime He got a car and a chauffeur and sewed all his DE and Sovereings in the hem of the dress of my mother and grandmother When he returned he opened a Dairy shop butter cheese and eggs from his farmer family and made another fortune For the moment India people are buying and Russia and China Anyone who remembers two WW from family history knows that gold and diamonds maybe the difference between life and dead provided there is any place to run to  |
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Pillar of the Community
Belgium
2078 Posts |
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Pillar of the Community
United States
511 Posts |
Everyone should have at least some silver ("the poor man's gold") and the yellow stuff if they can afford it. Even Moe, Larry and Curly wouldn't trust the government or the string pullers at the Federal Reserve.
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Pillar of the Community
Belgium
2078 Posts |
Wise observation  |
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Pillar of the Community
United States
2365 Posts |
Atleast with Greenspan we sort of knew what he was going to do but, Bernanke? Do I remember him saying that he wasn't going to raise interest rates - and isn't he going on 5-6 increases in his few months in office? That's always the Fed's answer to aiding inflation? Maybe I'm wayyyyy rusty on my Econ 101 but, that never made sense to me. Raise the rates, slow inflation and make it more difficult for the average American to purchase a home, etc. Ahhhhhhh, the wealthy benefit? Yes, No - help me to remember?
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Pillar of the Community
Belgium
2078 Posts |
We are going back to stagflation Now what does the president want for party re election ? A healthy stockmarket with moderate inflation So the rate increases are either a last rate increase and over or allready over until election time is past After that Armageddon Negative savings rate , printing federal reserve certificates like there is no tomorrow and needing to sell all those bonds to the japs and chinese or sink the dollar The intrest rate should have been raised drastically in 1999 or 2000 to avoid the housing bubble Now everyone except the rich are going to suffer  |
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Pillar of the Community
United States
1247 Posts |
Helicopter Ben is paranoid about another Great Depression. I believe he's even written a book about it. Stagflation is here and it's probably going to get worse for developed countries because of globalization. He says he'll throw money out of a helicopter to re-liquefy the economy if he has to in order to prevent another Great Depression. I think he's full of it. The bond markets are the "slayer" of inflated currency. Worthless currency will lead to a collapse in Treasury bonds. It would be rather un-tidy for the fed to cause a collapse in their own garbage.
But the problem is Japan and China may not wait around for that to happen they may dump, while they can still get out, and it will happen anyway. Inflation and deflation almost always lead to each other.
Keep something else in mind, if we go into another Great Depression--it's going to be ugly. The last generation that this happened to was not anything like the people today. They were people that went on to help defeat the Axis powers in WWll. The Allies saved the world from a dictatorship and yet, even today, they just shrug at that feat. Compare that now to a generation that idolizes athletes who expect to be praised and rewarded coo-cooed over for every trivial thing they do on the field and that they are already over-paid for anyway.
I don't see that it matters whether we are talking about hyper inflation or a credit collapse, one will lead to another, and either is going to lead to some very ugly days ahead. If the fed can prevent a depression, then what happened in the last Great Depression? They didn't want that one either and neither did the banks. A third of them went belly up and the rest were stuck with real estate they couldn't give away. No one wanted the last Great Depression--but they still got it.
We are hardly a chemical trace of the Greatest Generation. We're not going to get what "we want" this time. We're going to get what we deserve. Be prepared.
Edited by longnine009
08/05/2006 8:05 pm
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Pillar Of The Community
3147 Posts |
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Pillar of the Community
Belgium
2078 Posts |
If I understand Keynes and Gallbraith and the supplysiders et al The real drama is that the last Great Depression could have been avoided by easy money . This time around every solution seems to lead to more pain  |
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Pillar of the Community
United States
1247 Posts |
I agree Ageka. Helicopter Ben is not taking over at a good time. In a way I feel sorry for him. Greenspan is looked upon as some kind of "magic-man" and yet there could not have been a better time for him to take over. Paul Volcker had interest rates up to the ceiling when Goggle-face strolled in. He had plenty of room to play with and look like some kind of "genius."
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Pillar of the Community
United States
2365 Posts |
OK, longnine...now you did it! In the past, you and I have argued like two little "siblings" but, now you really, really did it!
I AGREE WITH YOU!!!!!!!
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Pillar of the Community
United States
1247 Posts |
I see. So you agree that greenspan should be hanged for treason?  Wouldn't do any good. He's had his head up his butt for so long now he used to no air.  ************************************ The greenspan legacy: "...well I woke up this morning and I got myself a beer..." Roadhouse blues--The Doors ************************************ |
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Pillar of the Community
United States
2365 Posts |
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Pillar of the Community
Belgium
2078 Posts |
You people are so wonderfull it scares me |
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Replies: 58 / Views: 3,473 |
First Page
Posted 08/05/2006 08:30 am
