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Author | Topic: The Giant Pool Of Money. Implications | |||||||||||||||||||||||||||||||||||||||||||
Phat Member Posts: 18348 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
jar writes: You do understand that if you decide to bring on the gloom and doom, those who have prepared will still not suffer? I cant help but see all of us suffering to some extent...i suppose it depends what you mean by suffering...you likely will still have a place to live and even your inflated retirement income will keep you from starving. Far too many people, however, are totally unprepared, and Uncle Sam won't be able to help them...it will be another Great Depression scenario...except we wont have a war to bail us out this time.
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Dr Adequate Member (Idle past 313 days) Posts: 16113 Joined: |
People like me want such a crises. [...] it would give me a small thrill to see the Wall Street insiders be wrong for once. They were, remember? They were utterly, catastrophically wrong.
It would thrill me to see the majority of Wall Street investors get burned. Yeah, well, that would be nice. I think burning them is excessive, but I'd sanction a few public floggings.
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jar Member (Idle past 422 days) Posts: 34026 From: Texas!! Joined: |
I get the feeling you would like for everyone to suffer, but sorry, the rich and powerful will mostly simply sit on the beach enjoying the sunsets.
Anyone so limited that they can only spell a word one way is severely handicapped!
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ooh-child Member (Idle past 372 days) Posts: 242 Joined: |
It's articles like this one, along with the expected crowing of the right-wing punditry that always follows one of these 'think pieces', that turns my job into a temporary handholder for my terrified clients convinced their retirement accounts must be converted to gold TODAY. Ugh. Coupled with tax season, this makes me want to shake them & tell them to turn off Hannity & Levin & the rest, please - for my sake & sanity!
I always wonder when one of these assessments hits the press - who got a new contract selling gold coins on their radio/tv program? I'm guessing it's Levin this time.
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Rahvin Member Posts: 4046 Joined: Member Rating: 7.4
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I always wonder when one of these assessments hits the press - who got a new contract selling gold coins on their radio/tv program? I'm guessing it's Levin this time. Don't forget Glenn Beck. He's not on TV any more, but he still has radio and streaming internet. Plenty of fiscal fearmongering to go around...and plenty of profit for all those gold coin vendors. Always remember, folks: if a big company tells you that your money is soon to become worthless, and then wants you to give them your soon-to-be-worthless cash in exchange for their gold...they're full of shit. Confusion is your first clue that something about the story you're being sold is wrong...and if you aren't confused by a vendor's ravenous appetite for the very cash they say is about to be worthless, well, there's no helping you.The human understanding when it has once adopted an opinion (either as being the received opinion or as being agreeable to itself) draws all things else to support and agree with it. - Francis Bacon "There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs." - John Rogers A world that can be explained even with bad reasons is a familiar world. But, on the other hand, in a universe suddenly divested of illusions and lights, man feels an alien, a stranger. His exile is without remedy since he is deprived of the memory of a lost home or the hope of a promised land. This divorce between man and his life, the actor and his setting, is properly the feeling of absurdity. — Albert Camus "...the pious hope that by combining numerous little turds of variously tainted data, one can obtain a valuable result; but in fact, the outcome is merely a larger than average pile of shit." - Barash, David 1995.
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ooh-child Member (Idle past 372 days) Posts: 242 Joined: |
Oh, Glenn is a given as far as hawking gold is involved. I even believe he believes the hype, and has a basement full of coins & such. I doubt the likes of Limbaugh & co. have liquidated their stock holdings.
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Phat Member Posts: 18348 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
I get the feeling you would like for everyone to suffer, but sorry, the rich and powerful will mostly simply sit on the beach enjoying the sunsets.
I take it you dont believe in any global catastrophes in the near future....which is logical... PT Barnum warned us of perpetual suckers...and chicken little squawked too often... but if enough resentment builds up globally, the rich may find a revolution upsetting their beach holiday. The way I see it, if me and my people suffer, we will make sure everyone feels the pain. Is that a bad attitude?
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jar Member (Idle past 422 days) Posts: 34026 From: Texas!! Joined: |
Of course I believe there will be global catastrophes in the near future, one playing out right now. But I also understand that those who have prepared will get by.
The way I see it, if me and my people suffer, we will make sure everyone feels the pain. Is that a bad attitude? It's not just bad, it's a stupid idea.Anyone so limited that they can only spell a word one way is severely handicapped!
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Taq Member Posts: 10084 Joined: Member Rating: 5.1
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I take it you dont believe in any global catastrophes in the near future....which is logical... What I never understood is what good gold will do you in a global catastrophe. You can't eat it. It's actually pretty heavy, so it's hard to pack around. You can't build a shelter with it. Maybe you could make bullets out of it, or hit someone over the head with a smaller sized ingot, but that's about the best use I can find for it. At least paper money has the advantage of being lighter. Pound for pound, I think I would invest in whiskey if the world is really going down the pooper.
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ramoss Member (Idle past 640 days) Posts: 3228 Joined:
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What I never understood is what good gold will do you in a global catastrophe. You can't eat it. It's actually pretty heavy, so it's hard to pack around. You can't build a shelter with it. Maybe you could make bullets out of it, or hit someone over the head with a smaller sized ingot, but that's about the best use I can find for it. At least paper money has the advantage of being lighter. Pound for pound, I think I would invest in whiskey if the world is really going down the pooper.
I would go with the silver myself. That is the best defense against lycanthropes and vampires.
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Phat Member Posts: 18348 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
I would go with solar showers
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Phat Member Posts: 18348 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
I wonder what the forecast for the future of money and credit is now that Trump and the progs are in power? Will they pay the bill or increase it? What does the prognosis look like?
Chance as a real force is a myth. It has no basis in reality and no place in scientific inquiry. For science and philosophy to continue to advance in knowledge, chance must be demythologized once and for all. —RC Sproul "A lie can travel half way around the world while the truth is putting on its shoes." —Mark Twain " ~"If that's not sufficient for you go soak your head."~Faith Whoever trusts in his own mind is a fool, but he who walks in wisdom will be delivered.~Proverbs 28:26
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PaulK Member Posts: 17827 Joined: Member Rating: 2.3
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My prediction is that the National Debt under Trump will be YUGE! The biggest ever!
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Phat Member Posts: 18348 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
I have heard that once the other major powers trade in any means besides dollars,up to ten trillion dollars will flood our economy and cause extreme inflation.
I also heard that plans are already being discussed to replace the dollar. Could this be after a major correction? I know i would be very angry if most of our money was devalued. You don't piss the most powerful military on earth off by bankrupting their economy! Chance as a real force is a myth. It has no basis in reality and no place in scientific inquiry. For science and philosophy to continue to advance in knowledge, chance must be demythologized once and for all. —RC Sproul "A lie can travel half way around the world while the truth is putting on its shoes." —Mark Twain " ~"If that's not sufficient for you go soak your head."~Faith Whoever trusts in his own mind is a fool, but he who walks in wisdom will be delivered.~Proverbs 28:26
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PaulK Member Posts: 17827 Joined: Member Rating: 2.3 |
If demand for the dollar dropped then the dollar would be devalued. Making imports more expensive (and exports cheaper). A mild devaluation might actually be good, after the initial pain (if you want companies to make more things in the U.S. instead of bringing them in from abroad it would help that, without starting a trade war over tariffs)
I don't believe that there are any definite plans to replace the dollar as an international reserve currency. Of course if Trump does something crazy - like default on debt repayments - who knows what will happen. (Not saying that he will, but can we be sure he won't?)
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