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GALTGULCH8

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Has anyone else encountered quite a few announcements recently by well credentialed pundits in the financial sector, e.g. James Richards, James Dale Davidson, Bonner, who are all warning of a collapse which will not just affect shareholders, investors, homeowners, retirees, those on Social Security, the employed, in other words virtually everyone in society.

Of course they offer their advise in their newsletters as to how to prepare for, survive the collapse with your assets intact or even profit from the disaster.

There are threats of not being able to access your savings as banks become unwilling to let you withdraw from your account or the government announces a bank holiday and all the banks close at once. ATMs do not let you withdraw funds. One even mentioned that SWAT teams enter your home to search for any money which you may have sequestered there!

Has anyone here tried to make a withdrawal lately? I think there is a limit as to how much one may withdraw with out the bank being required to inform the government of amounts over or equal to $5,000 at a time?

It gets worse.

Fortunately we all are susceptible to "normalcy bias" so hardly anyone allows themselves to accept the possibility this might happen. That will only make matters worse if and when it does happen. 

Bonner has taken out radio ads for you to go to his video entitled "strange warning.com" in which he laments the failure of our credit system.

Just wonder if anyone here has paid any attention to this stuff? 

 

 

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Yet another Doomsday Prophecy.  Can you tell us when this will happen in an interval of + or - two months?  That way we will know if these prophecies and forecasts are worth anything.  Remember we need a date + or - two months.  Can you provide it? 

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No, I cannot say except to point out that these men who are making us aware of the danger have their reasons for doing so. 

There is no question that every central bank in the world has been competing to weaken the purchasing power of their own currency supposedly to facilitate their own exports. 

It is evident that many countries have been reducing their holdings of U.S. Treasuries to the point that the Federal Reserve has been purchasing U.S. Treasuries with newly printed fiat paper.

Trillions of U.S. dollars, not to be confused with Constitutional dollars which the Coinage Act of 1792 held to be a coin containing 371 grains and four sixteenths of a grain of silver, have been printed during the last few years, enlarging the national debt to over 19 trillion which does not count the unfunded liability of promises made to pay retirement and Medicare payments for the baby boom population which are reaching the age of eligibility at the rate of over ten thousand a day for the next ten to fifteen years. 

Lawrence Kotlikoff estimates that the national debt is actually in the realm of 256 trillion dollars!

Is that not specific enough for you?

Is it any wonder that our leader is tempted to help himself to the retirement accounts of the nation as well as the bank accounts?

I believe that enabling legislation has been adopted in the US as well as Europe since the banking crisis in Cyprus.

Not to mention the enormous derivative market which is in the quadrillions at risk.

Hope you are prepared as there appears to be no doubt whether it will collapse just just when. 

gg

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No definite predictions  =  total and utter balderdash.  A theory or  hypothesis that  does not predict and cannot be tested  is worthless. 

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Thank you for your input. I appreciate your response. My interpretation of your analysis in this context is that sure enough the value of the fiat paper currency which is unconstitutional will indeed, as has happened to every other paper currency including the one used to pay the men who came forward to fight the British in the American Revolution, will become, to use your conclusion: "worthless."

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4 hours ago, GALTGULCH8 said:

Thank you for your input. I appreciate your response. My interpretation of your analysis in this context is that sure enough the value of the fiat paper currency which is unconstitutional will indeed, as has happened to every other paper currency including the one used to pay the men who came forward to fight the British in the American Revolution, will become, to use your conclusion: "worthless."

The economy is running on fiat money since Nixon closed the gold window  45 years ago.  The economy has not died.  How do you figure that?  It is the economy that makes money valuable, not the other way around.  The use-value of money is that it is a catalyst  for production and trade.  Whatever gets people to produce things or do tasks (labor)  is a working catalyst.  The real economy is production, labor and exchange of goods/services.  Money is a promoter of such activity and a means of  communication between the forces of supply and the forces of demand (in the economic sense). Money is the medium and the message   but  goods and services are the reality.   That simple truth seems to be overlooked by all the gold bugs.

Go back and review Franscisco's "money speech"  in AS.  Rand was onto something there. 

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On the news Bernie Sanders is on a roll. The public schools and "leftist" college professors have sufficiently indoctrinated enough generations that they do not see socialism as the evil it is. Many respond by saying "we already have socialism, Medicare and Medicaid." 

So we can only hope that the voters in the upcoming primary states will vote against him but that would leave us with another socialist in the form of Hillary who may yet be indicted. If that happens then maybe Biden will get back in for the Democrats.

Trump is calling Sanders a Communist and the Republicans are likely to see him as the antidote to the Establishment candidates.

Where is John Galt when you need him?

Gary Johnson comes to mind as he is running as the Libertarian Party candidate!

Got my vote!

 

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On 2/12/2016 at 11:03 PM, GALTGULCH8 said:

Lawrence Kotlikoff estimates that the national debt is actually in the realm of 256 trillion dollars!

That is ballpark correct. Link.

Quote

Not to mention the enormous derivative market which is in the quadrillions at risk.

That is baloney. Link.

Quote

Trump is calling Sanders a Communist 

LinkWhile largely true, BS's supporters and many others will pooh-pooh it. Calling BS a Marxist socialist and explaining why might be more effective.  An example of pooh-poohing is here. The author bloviates about Sanders being a member of this and not a member of that, nowhere defining what socialism or communism means regarding relations between the individual and the state.

 

 

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