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Very interesting read.....

 

 

“The Great Dollar Devaluation Disaster” is Only Just Beginning – and the Intended Victim is YOU!

October 17, 2010 by Editor · Leave a Comment

 

I’m mad as hell about the shellacking our government has planned for you … for me … and for millions of other honest, hard-working Americans … and I absolutely refuse to stay silent while good people are stripped of their life savings, investments and even the retirement funds that are due to them … and by our own leaders. Words: 2120

 

So says Larry Edelson’s (www.uncommonwisdomdaily.com) in an article* which Lorimer Wilson, editor of www.munKNEE.com, has reformatted into edited [...] excerpts below for the sake of clarity and brevity to ensure a fast and easy read. (Please note that this paragraph must be included in any article reposting to avoid copyright infringement.) Edelson goes on to say:

 

If it’s hard for you to believe that our own leaders have turned on us – that they are intentionally attacking your wealth and financial independence and that they have already begun executing their plan – I certainly understand but please – for your own sake and for your family’s safety – hear me out.

 

U.S. Has an Utterly Unpayable $127.8 Trillion in Debt Obligations

Ask anybody about how much Washington owes and they’re likely to say the national debt is somewhere around $12.8 trillion. As shocking as that massive number is, however, it is just a fantasy — a tiny fraction of the gargantuan amount our government really owes.

 

In actual fact, our real national debt is nearly TEN TIMES GREATER! In addition to that official $12.8 trillion national debt, Washington has written $108 trillion in off-budget, unfunded IOUs on Social Security, Medicare, Medicaid, its prescription drug program, its veterans benefits programs and its Federal pension programs that must also be paid. That adds up to more than $120 trillion and that’s not even counting the $1 trillion the new health care bill will cost us or the trillions in NEW deficits projected over the next 10 years! The truth of the matter is that, altogether, our leaders have obligated us … our children … and our children’s children … to pay off an utterly unpayable $127.8 trillion in debt.

 

Global Investors in U.S. Treasuries Are Recoiling in Horror

Until recently, we could count on overseas investors to buy our treasuries — effectively loan Washington the money it needs to pay its bills. In fact, foreigners fully fund over HALF of our borrowing addiction, holding $9.7 trillion in U.S. securities — including almost $4.6 trillion in bonds. They are horrified these days, however, at our leaders’ inability to manage the nation’s finances and wondering if we’ll be able to make good on our obligations to them and starting to snap their wallets shut.

a) In November 2009, for instance, China — the world’s largest investor in U.S. government debt — became a net SELLER of treasuries.

B) In December China sold a whopping $34 billion worth of U.S. government bonds with others following suit: Net overseas holdings of short-term treasuries fell by $53 billion.

c) In January 2010, foreign net purchases of U.S. Treasury securities plunged a shocking 69.8%. Japan, the second-largest foreign holder of U.S. debt, was also a net seller.

d) In February 2010, Beijing sold yet ANOTHER $11.5 billion of U.S. Treasuries, making that four consecutive months of dumping U.S. bonds.

 

[Editor's Note: Don't forget to sign up for our FREE weekly "Top 100 Stock Market, Asset Ratio & Economic Indicators in Review"]

 

This is all happening because Washington’s debts have finally reached the point of no return – they are absolutely, positively UNPAYABLE! We have reached the point of no return.

 

What are the Alternatives?

The simple truth, of course, is that Washington will never repay the full $127.8 trillion it owes. Think through the alternatives:

 

1. Borrow our way out of debt?

Virtually impossible. As we’ve seen, foreign investors who have loaned us the money that Washington needs to stay in business are already fed up. They’re worried that we’ll never be able to repay what we owe them. They’re now becoming net SELLERS of treasuries so it’s nearly impossible that they’ll be willing to throw trillions more of their money our way. Plus, even the mere hint that Washington was trying to borrow trillions more would crush bond prices and light the fuse on an interest rate explosion that would kill the economy.

 

2. Implement massive spending cuts?

A snowball’s chance in hell! The White House and Congress will continue doing what they’ve always done and what they’re doing right now – finding dozens of outrageous new ways to waste your money and plunge us even deeper in debt.

Meanwhile, Washington WILL make a show of addressing the crisis by delaying the retirement age for Social Security from age 65 to 68 and by reducing benefits.

 

How does that help you? It doesn’t. It just dilutes down what you’re already owed even more so if you’re looking for any meaningful cuts in wasteful spending in Washington, forget about it. Any real cuts needed to make any noticeable dent in the government’s $127.8 trillion debt would probably cause riots in the streets and guarantee a quick end to the career of every politician who voted for them.

 

3. Raise taxes drastically?

Sure, the Obama administration will raise your taxes but even the White House says that the most startling proposals would only generate an additional $43 billion in revenue. $43 billion, however, is only 3% of our $1.6 trillion annual deficit and only about one-third of one percent of the total $127.8 trillion Washington owes. At that rate, it would take 300 years to repay our government’s debt with new taxes! In fact, it would take new taxes of $1.1 million for every U.S. household to pay off this debt. Nobody has that kind of money, of course, and besides, a tax increase representing just a fraction of that amount would surely kill this feeble recovery, drive unemployment into the stratosphere and light the fuse on a Great Depression that makes the last one pale by comparison.

 

That leaves Obama and Bernanke with one and ONLY one alternative …

 

4. Devalue the U.S. dollar?

When war strategies to vanquish enemies wind up killing innocent civilians, it’s called “collateral damage.” Similarly, when political strategies to vanquish debt wipe out your wealth, the same term applies, and right now President Obama and Fed Chief Bernanke know that there is ONLY one way they can ever hope to make good on their massive debt obligations and that is to devalue the U.S. dollar! Only then can they hope to repay Washington’s debts — by doing it with cheaper dollars.

 

Obama and Bernanke also know that by doing so, they’re also gutting the value of every dollar you earn, spend, save, invest and plan to use in retirement but they think they have no choice. To allow Washington to default on its debts and obligations would almost surely cause the entire U.S. economic house of cards to collapse — and the blame would land squarely on the Obama administration’s shoulders.

 

You? You’re little more than collateral damage. If the only way to delay default is to rob you of everything you’ve worked for and everything you’re counting on to see you through retirement — that’s evidentially just fine with them.

 

What is the Government Doing to Resolve the Situation?

Our government has begun intentionally debasing our own currency by:

 

1. Flooding the World with Unbacked Paper Dollars

Money is subject to the laws of supply and demand just like any commodity. If you want to lower the price, simply increase the supply. Just do that and the buying power of the greenback will plunge. Your bank statement may still say you still have $25,000 but in truth, when you go to spend that money, it only buys as much as $18,000, or $15,000, or $12,000 used to because the value of your money has been stolen from you.

 

Just in the last two months alone, the Fed has agreed to create $1.25 trillion out of thin air to buy mortgage-backed securities including another $300 billion to buy U.S. Treasuries alone. The liabilities on the Fed’s balance sheet have roughly DOUBLED — from $1.2 trillion a year ago to more than $2 trillion today – and the actions announced by the Fed in March are most likely to expand that to well over $3 trillion over the next year!

 

From September 10, 2008 to March 10 of this year, Bernanke has increased the nation’s monetary base from $850 billion to $2.1 trillion. That’s an irresponsible, irrational and insane increase of 2.5 times in just 18 months — and you must not underestimate its sweeping historical significance:

 

Nearly 218 years ago, Treasury Secretary Alexander Hamilton established the dollar as America’s national currency when Congress passed the Coinage Act of 1792. Since that memorable date, the United States has suffered through one pandemic, two great depressions, 11 major wars, and 44 recessions. Four U.S. presidents have been assassinated while in office. Hundreds of thousands of businesses have gone bankrupt and tens of millions of Americans have lost their jobs but not once has the U.S. government ever resorted to the kind of extreme abuses of its money-borrowing and money-printing power we’re seeing today!

 

2. Defaulting on its Debts by Devaluation

You’ve probably been hearing a lot lately about how overvalued the Chinese yuan is and how that gives the Chinese an unfair trade advantage and how hard the Obama administration has been working to convince Beijing to raise the yuan’s value against the dollar in order to level the playing field but the only problem is that it is all a lie.

 

The truth is, the average Chinese worker earns a tiny fraction as much as American workers do. Even if the yuan DOUBLED or TRIPLED in value against the dollar, Chinese products would still be far cheaper on world markets than U.S.-made products so what’s the real reason why Washington is so desperate to have China INcrease the value of the yuan? Simple: By doing so, they will be automatically DEcreasing the relative value of the dollar — and they’ll be able to repay China, and everyone else who owns treasuries or is owed money by Uncle Sam using CHEAPER dollars!

 

Don’t think it’s going to happen? Well, let me tell you something: For the last nine years I’ve been warning that China would keep the value of its yuan extremely low — so it could keep its exports cheap, build up a massive trade surplus with the U.S. and a huge pile of cash but I also warned that, as soon as it had a big cash hoard and a strong enough domestic consumption to sustain its economy WITHOUT such massive growth in its exports to the U.S., it would let the yuan get stronger, driving DOWN the value of the U.S. dollar – and that day has come. China will soon go ahead with a yuan revaluation — and dollar devaluation.

 

Such a revaluation ot its currency won’t negatively impact China nearly as much because Beijing has been preparing for this the entire time by gobbling up natural resources left and right, not only for strategic supply needs, but also to hedge against the inevitable U.S. dollar devaluation. The steps are now in motion:

a) Singapore, for the first time in its history, pushed the value of its currency higher.

B) The Korean won, Malaysian ringgit, Indian rupee and Taiwan dollar will likely soon begin to rise rapidly against the dollar.

c) China will probably soon end the yuan’s peg to the greenback and allows its currency to move higher.

 

Be Advised: You Are the Intended Victim!

With each and every revaluation, YOUR dollar is worth LESS and make no mistake about it: This is nothing more and nothing less than highway robbery and YOU are the intended victim!

 

The greenback has already plunged as much as 33% in real, trade-weighted terms since its 2002 high. By that measure, every dollar in your wallet … in your savings account … in your brokerage account … and in your retirement account is worth only 67 cents.

 

The handwriting is on the wall: This great dollar disaster is only just beginning. Obama and Bernanke have no choice. Either they dramatically devalue the dollar over the next three years, or they go down in history as the first administration to default — to welch on the government’s debt obligations.

 

*http://www.uncommonwisdomdaily.com/dollar-doomsday-2010-protect-your-wealth-and-profit-9283 (Uncommon Wisdom is a free daily investment newsletter from Weiss Research analysts offering the latest investing news and financial insights for the stock market, precious metals, natural resources, Asian and South American markets. To view archives or subscribe, visit http://www.uncommonwisdomdaily.com.)

 

Editor’s Note:

- The above article consists of reformatted edited excerpts from the original for the sake of brevity, clarity and to ensure a fast and easy read. The author’s views and conclusions are unaltered.

- Permission to reprint in whole or in part is gladly granted, provided full credit is given as per paragraph 2 above.

- Sign up to receive every article posted via Twitter, Facebook, RSS feed or our FREE Weekly Newsletter.

 

 

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WASHINGTON — China's holdings of US Treasury bonds tumbled in December, allowing Japan to take over as the top holder of American government debt, according to Treasury data released Tuesday.China's bond holdings dropped substantially to 755.4 billion dollars in the last month of December from 789.6 billion in November, said the Treasury's international capital data report.Japan's holdings increased to 768.8 billion dollars in December from 757.3 billion dollars in November, according to the data report.

http://www.google.com/hostednews/afp/article/ALeqM5h0SLuwOeqp8NaDAKtuo2642Z7Xyw

 

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I don't know, though it would make sense that they are just trading on the open market. Our gov sells the T bills at auction, after that they can be sold between other entities without having to be passed back thru any US bank or regulator.

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OK, thanks. Next question. Is Japan buying from China or us? And, if they are buying from China....Why?

 

 

oh it's cheaper that way! it's always cheaper in china! the quality is crap!!!

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I love Glen Beck! I always did even when he was on CNN and I was telling people you've got to watch this guy and that was way early on. Thank you for posting the link to his pages to watch. I don't subscribe to GBTV either because I can't afford it right now. He is getting more serious and more precise as to what we need to do and everything he said was true. Very good to see this program.

Edited by Katz25

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How The U.S. Dollar Will Be Replaced

 

Thursday, 17 May 2012 05:03 Brandon Smith

 

 

 

After being immersed in the world of alternative economic analysis for several years, it sometimes becomes easy to forget that most people do not track forex markets, or debt to GDP ratio, or true unemployment, or hunch over IMF white-papers highlighting subsections which expose the trappings of the globalist ideology. Sometimes, you just assume the average person knows what the heck you are talking about. This is, of course, a mistake. However, it is a mistake that is borne from the inadequacy of our age and our culture, and is not necessarily a product of weak character, either of the analyst, or the casual reader.

 

The great frustration of being actively involved in the Liberty Movement is the fact that many people are rarely on the same page (or even the same book) during political and economic discussion. Where we see the nature of the false left/right paradigm, they see “free democracy”. Where we see a tidal wave of destructive debt, they see a “responsible government” printing and spending in order to protect our “best interests”. Where we see totalitarianism, they see “safety”. Where we see dollar devaluation, they see dollar strength and longevity. Ultimately, because the average unaware citizen is stricken by the disease of normalcy bias and living within the doldrums of a statistical fantasy world, they simply have no point of reference by which to grasp the truth when exposed to it. It’s like trying to explain the concept of ‘color’ to a man who has been blind since birth.

 

Americans in particular are prone to reactionary dismissal when exposed to facts that disrupt their misconceptions. Our culture has experienced a particularly prosperous age, not necessarily free from all trouble, but generally spared from widespread mass tragedy for a generous length of time. This tends to breed within societies an overt and unreasonable expectation of ease. It generates apathy, and laziness. A crushing blubberous slothful cynicism subservient to the establishment and the status quo. Even the most striking of truths struggle to penetrate this smoky forcefield of duplicitous funk.

 

In recent articles, I have outlined the very immediate dangers of several potential economic events that are likely to take place this year, including the exit of peripheral countries from the European Union, the conflict between austerity and socialist spending in France and Germany, the developing bilateral trade agreements between China and numerous other countries which cut out their reliance on the U.S. dollar, and the likelihood that the Federal Reserve will announce QE3 before the end of 2012. All of these elements are leading in one very particular direction: the end of the Greenback as the world reserve currency.

 

In response to these assertions I have received letters from some people (some of them indignant) questioning how it would be even remotely possible that the dollar could be replaced at all. The concept is so outside their narrow world view that many cannot fathom it.

 

To be sure, the question is a viable one. How could the dollar be unseated? That said, a few hours of light research would easily produce the answer, but this tends to be too much work for the fly-by-night financial skeptic. Sometimes, the job of the alternative analyst is to make the obvious even more obvious.

 

So, let’s begin…

 

The Dollar A Safe Haven?

 

This ongoing lunacy is based on multiple biases. For some, the dollar represents America, and a collapse of the currency would suggest a failure of the republic, and thus, a failure by them as individual Americans who live vicariously through the exploits of their government. By extension, it becomes “patriotic” to defend the dollar’s honor and deny any information that might suggest it is on a downward spiral.

 

Others see how the investment world clings to the dollar as a kind of panic room; a protected place where one’s saving will be insulated from crisis. However, just because a majority of day trading investors are gullible enough to overlook the Greenback’s pitfalls does not mean those dangerous weaknesses disappear.

 

There is only one factor that shields the dollar from implosion, and that is its position as the world reserve currency. Without this exalted status, the currency’s value vanishes. Backed by nothing but massive and unpayable debt, it sits frighteningly idle, like a time bomb, waiting for the moment of ignition.

 

The horrifying nature of the dollar is that it is only valuable so long as foreign investors believe that we will pay back the considerable debts that we (the American taxpayer at the behest of our criminally run Treasury) owe, and that we will not hyperinflate in the process. If they EVER begin to see their purchases of dollars and treasuries as a gamble instead of an investment, the façade falls away. Yet again this year Congress and the Executive Branch are “at odds” over the expansion of the debt ceiling, which has been raised to levels beyond the 100% of GDP mark:

 

http://www.nytimes.com/2012/05/17/us...riorities.html

 

Barack Obama has made claims that increases in the debt ceiling are “normal”, and that most presidents are prone to hiking the barrier every once in a while. Yet, back in 2006, when George W. Bush increased debt limits, Obama had this to say:

 

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. Government can't pay its own bills…Instead of reducing the deficit, as some people claimed, the fiscal policies of this administration and its allies in Congress will add more than $600 million in debt for each of the next five years…Increasing America's debt weakens us domestically and internationally. Leadership means that 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

 

For once, Barack and I agree on something. Too bad the man changes his rhetoric whenever it’s to his advantage.

 

Today, Obama now asserts that raising the debt ceiling is not an opening for more government spending, but an allowance for the government to pay bills it has already accrued. This is disingenuous and hypocritical prattle. Obama is well aware as are many in Congress that as long as the Federal Government is able to raise the debt ceiling whenever it suits them, they can increase spending with wild abandon. It’s like handing someone a credit card with no maximum limit. For most men, the temptation would be irresistible. Therefore, one can predict with 100% certainty that U.S. spending will never truly be reduced, and that our national debt will mount in tandem until we self destruct.

 

How has this trend been able to continue for so long? Our private central bank has created the fiat machine by which all economic depravity is possible. Currently, the Federal Reserve is the number one holder of U.S. debt. The Federal Reserve creates its own capital. It prints its wealth from thin air. The dollar, thus, has become its own lynchpin. The secretive institution which has never been subject to a full audit is now monetizing endless debt mechanisms with paper promises. What value would any intelligent investor put on such a fraudulent economic system?

 

The epic dysfunction of the dollar is rooted in its reliance on perception rather than tangible wealth or strong fundamentals. It is, indeed, like any other fiat unit, with all the inevitable pitfalls built into its structure.

 

Ironically, the value of the Dollar Index is measured not by its intrinsic buying power, or its historical buying power, but its arbitrary buying power in comparison with other collapsing fiat currencies.

 

The argument I hear most often when pointing out the calamitous path of the dollar is that it is the go-to safe haven in response to the crisis in Europe. What the financially inept don’t seem to grasp is that the shifting of savings back and forth between the euro and the dollar is just as irrelevant to our currency’s survival as it is to Europe’s. BOTH currencies are in decline, and this is evident by the growing inflationary pressures on both sides of the Atlantic. Ask any consumer in Greece, Spain, France, or the UK how shelf prices have changed in the past four years, and they will say the exact same thing as any consumer in the U.S.; costs have gone way up. Therefore, it makes sense to compare the dollar’s value not to the euro, or to the Yen, but something more practical, like the dollar of the past….

 

In 1972, just as Nixon was removing the dollar from the last vestiges of the gold standard, a new car cost an average of $4500. A home cost around $40,000. A gallon of gas was .36 cents. A loaf of bread was .25 cents. A visit to the doctor’s office was $25. Wages were certainly lower, but they kept much better pace with the prices of the era. Today, the gap between wages and inflation is insurmountable. The average family is unable to keep up with the flashflood of rising prices.

 

According to the historic buying power of the dollar, the currency is a poor safe haven investment. With the advent of bailout efforts and debt monetization through quantitative easing, its devaluation has been expedited dramatically. The Fed has left the door open for what I believe will be a final destructive round of publicly announced QE, weakening the dollar to near death:

 

http://www.reuters.com/article/2012/...84F12320120516

 

The question then arises; why do foreign countries continue to buy in on the greenback?

 

The Dollar Dump Has Already Begun

 

One of my favorite arguments by those defending the dollar is the assertion that no foreign country would dare to dump the currency because they are all too dependent on U.S. trade. To answer the question above, the reality is that foreign countries ARE already calmly and quietly dumping the dollar as a global trade instrument.

 

To those people who consistently claim that the dollar will never be dropped, my response is, it already has been dropped! China, in tandem with other BRIC nations, has been covertly removing the greenback as the primary trade unit through bilateral deals since 2010. First with Russia, and now with the whole of the ASEAN trading bloc and numerous other markets, including Japan. China in particular has been preparing for this eventuality since 2005, when they introduced the first Yuan denominated bonds. The bonds were considered a strange novelty back then, especially because China had so much surplus savings that it seemed outlandish for them to take on treasury debt. Today, the move makes a whole lot more sense. China and the BRIC nations today openly call for a worldwide shift away from the dollar:

 

http://news.xinhuanet.com/english201..._131032986.htm

 

With the global proliferation of the Yuan, and the conversion of the Chinese economy away from dependence on exports (especially to the West) towards a more consumer based system, the Chinese have effectively decoupled from their reliance on U.S. markets. Would a collapse in the U.S. hurt China’s economy? Yes. Would they still survive? Oh yes. Far better than America would, at least…

 

In 2008, I warned of this development and was attacked on all sides by more mainstream economists and Keynesian proponents who stated that such a development was impossible. Today, it’s common knowledge that our primary creditors are “diversifying” away from the dollar, though MSM talking heads and those who parrot them still claim that this is not a threat to our economy.

 

To be clear, the true threat to the dollar’s supremacy is not only due to the constant printing by the private Federal Reserve (though that is a nightmare in the making), but the loss of faith in our currency as a whole. The Fed does not need to throw dollars from helicopters to annihilate our currency; all they have to do is create doubt in its viability.

 

The bottom line? A dollar collapse is not “theory” but undeniable fact in motion at this moment, driven by concrete actions on the part of the very nations that have until recently propped up our debt obligations. It is only a matter of time before the dollar diminishes and fades away. All signs point to a loss of reserve status in the near term.

 

What Will Replace The Dollar?

 

My next favorite argument in defense of the Greenback is the assertion that there is “no currency in a position to take the dollar’s place if it falls”. First of all, this is based on a very naïve assumption that the dollar will not fall unless there is another currency to replace it. I’m not sure who made that rule up, but the dollar is perfectly able to be flushed without a replacement in the wings. Economic collapse does not follow logical guidelines or the personal pet peeves of random man-child economists.

 

Though, to be fair, and to educate those unaware, there IS a replacement already conveniently ready to roll forward. The IMF has for a couple of years now openly called for the retirement of the dollar as the world reserve currency, to be supplanted by the elitist organization’s very own “Special Drawing Rights” (SDR’s):

 

http://www.guardian.co.uk/business/2...world-currency

 

The SDR is a paper mechanism created in the early 1970’s to replace gold as the primary means of international trade between foreign governments. Today, it has morphed into a basket of currencies which is recognized by almost every country in the world and is in a prime position to take the dollar’s place in the event that it loses reserve status. This is not theory. This is cold hard reality. For those who claim that the SDR is not considered a “real currency”, they should probably warn the U.S. Post Office, which now uses conversion tables that denominate costs in SDR’s:

 

http://pe.usps.com/text/imm/immc3_007.htm

 

So, now that we know a replacement for the dollar is ready to go, the next obvious question would be:

 

Why would global elites destroy a useful monetary tool like the dollar? Why kill the goose that "lays the golden eggs"?

 

People who ask this question are simply unable to see outside the fiscal box they have been placed in. For global bankers, a paper currency is not important. It is expendable. Like a layer of snake skin; as the snake grows, it sheds the old and dawns the new.

 

At bottom, men who promote the philosophies of globalization greatly desire the exaltation of a global currency. The dollar, though a creation of a central bank, is still a semi-sovereign monetary unit. It is an element that is getting in the way of the application of the global currency dynamic. I find it rather convenient (at least for those who subscribe to globalism) that the dollar is now in the midst of a perfect storm of decline just as the IMF is ready to introduce its latest fiat concoction in the form of the SDR. I find the blind faith in the dollar’s lifespan to be rife with delusion. It is not a matter of opinion or desire, but a matter of fact that currencies in such tenuous positions fall, and are in the end replaced. I believe that the evidence shows that this is not random chance, but a deliberate process, leading towards the globalist ideal; total centralization of the world under an unaccountable governing body which operates a global monetary system utterly devoid of transparency and responsibility.

 

The dollar was a median step towards a newer and more corrupt ideal. Its time is nearly over. This is open, it is admitted, and it is being activated as you read this. The speed at which this disaster occurs is really dependent on the speed at which our government along with our central bank decides to expedite doubt. Doubt in a currency is a furious omen, costing not just investors, but an entire society. America is at the very edge of such a moment. The naysayers can scratch and bark all they like, but the financial life of a country serves no person’s emphatic hope. It burns like a fire. Left unwatched and unchecked, it grows uncontrollable and wild, until finally, there is nothing left to fuel its hunger, and it finally chokes in a haze of confusion and dread…

 

 

http://www.alt-market.com/articles/7...ll-be-replaced

 

 

You can contact Brandon Smith at: brandon@alt-market.com __________________

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.............. and we can add further political haze and 4 billion plus debt to the total.......... can we avoid a government shut down despite these difficulties as well as the dollar dying completely in , oh 60 - 90 days... this is my concern now.

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114 Billion gone missing this month? http://www.businessweek.com/articles/2013-01-23/missing-114-billion-from-u-dot-s-dot-banks#r=rss

 

 

This money is being taken from the banks. Normally regular folks would have access to it, now its 'gone' . Read at the link please, for some reason it wont copy and paste easily because of website page layout .

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Nosing around & read this...imho we've made the paper stuff god. People have always found ways to "trade out" things of value for things of value. We've allowed ourselves to be fenced in and let our lives be trapped by the "paper god". Isn't that why we live lives of conservers? To try and prepare ourselves for times when somebody lights a match to the paper god? Just thinking ...

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Even as the Greek economy has fallen into depression and Spanish bank losses on real estate have reached dangerous levels, the European Central Bank and the continent’s government have ensured that bank deposits were safe. They have feared that if depositors in any country were forced to take losses, it would spark a destructive cascade of withdrawals across Europe.

Ya THINK? Across Europe and across 'the pond' too. DH and I discussed how much we have in the bank. We take it out in ...commodities as much as possible. Can you imagine what those people must be thinking/feeling? :motz_6::banghead::0327:

 

For the past six months, the global financial markets have become increasingly complacent, convinced that the euro-zone crisis is, for practical purposes, over. Cyprus is the test of whether that is correct, or whether the complacency was instead misplaced.

 

Yeah sure. I'd sit and wait to see on this one...... :grinning-smiley-044:

 

 

MtRider :shopping:

Edited by Mt_Rider

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Just found this while lurking around.  If this is what was going on in 2010 to 2013.  Just think about what is about to happen in the next couple of years.   already i have seen our homes being devalued and realestate taxes going up. Though that is here in VA. Can't answer to what is going on in other states on this.    Also seeing less food in grocery stores. Some things we used to buy we can't get any longer unless it is on line.   I am seeing an increase in food prices as well as clothing. 

What are you guys seeing now that either relate to what went on a few years ago compared to what is happening now?  I think that the 20/20 elections are going to be the end of society as we know it.  We are heading down a slippery slope and I don't see a way out.  My gut feeling is starting to tell a story of I am not preparing fast enough for things to come.  Nor do I really know how to prepare for the unknown.  But civil unrest, famine, water shortage in some places, our weather changing like it is.  What is your take on this?

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One of the reasons that so much of what I bought at Walmart today is prep related.  As in '08, I'm setting aside more for the long term and also picking up some small odd things that could really help.  In '08...I got milking goats.  That was so much fun and miss them terribly.  But not this location and this set up now that I'm this much older.  Not even ducks much anymore.  So prepping is different and age/disability is the reason.  More in #10 cans....less in the barnyard.  :sigh:

 

This post....looking back at all the former friends...  :(   CGA...RIP.  Wonder how her daughter is doing with the Mennonites?   Sass and some of the rest are around.  Mostly Facebook stole them! 

 

What I am watching with most horror now......is the extreme HATE.  And a feverish mantra of MINE! MINE! MINE!   It means, apparently, that lying, cheating, stealing, murder....it's all ok.  Because hating the other side is just THAT important!   God in Heaven, we need help!  :pray: 

 

MtRider  :yar: 

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CGA, Westie, Cookie... yes.  Libraries burned down.

 

And you can never move fast enough to recover from your most fundamental miscalculations, can you?  

 

I'm trying to wangle an irrigation system,  and might be picking up some bunnies with extraordinary meat-producing genetics next month.

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I agree with you all. If more of the wrong people get elected, we are doomed to socialism. They aren't even trying to hide that fact. The way Trump has been treated, I can't understand why he would even want another term. Like him or not... No matter who gets elected someone from the other side will probably start riots. It's probably already being organized. People even riot and burn down their own city when their own team wins a series. I pray I can get moved before the next election. 

 

I've been eating out of my pantry so I don't have to move so much food. One good thing about prepping food is you can always eat it. Even without a crisis. Plus it was cheaper when I bought it. But it's an uneasy feeling watching my cans disappear.

 

Littlesister, I think you are doing a great job prepping. Foods and meds you have to have and it sounds like you are going good in those areas. Keep up the good work. Don't forget a supply of clean drinking water. That's vital. Extra blankets and a non- electric can opener or two etc. 

 

Mt. Rider, I've often thought about Bethany too. 

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Ambergris....did Cookiejar pass....or just that she's gone from here?

 

MtRider  :unsure:    I read her Fireside story now and then. 

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That's a thought, Mt Rider.  I've been thinking of her as deceased for a long time, but I don't know where I got that idea.  I don't see that information on here.

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Ambbergris, I don't know who cookiejar is. But I do hope she is ok.  She must have been a member long before me. 

No thinks to George Soros,  New york and CA. VA has gone total blue. Seems that the outsiders, pro abortionist, planned parenthood from CA and NY both along with George Soros bought themselfs some dems to do their bidding. There has to be a way to stop these people from interfering in the elections of other states like this. So VA will become like CA and we are doomed. 

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