Anyone want to do this again?

[davekc]

H2drive:
lets start from the button. buy gold at will, you cannot be wrong with buying gold at any time in human history. better yet in times leading to a new currency as the new currency will be Golded valued . better now then ever.
however a Gov. WILL go after personal Gold, like they ever did. many times in human history that go after lead to the owners taking active part in the new establishment. other times lade to the privet owners ending up DEAD.
best one can do is hide the Gold, & hide the paper-trails that lade to the possession of the Gold. ownership of Gold history is well documented. we can all learn from that. i found it to be fascinating as well. Gold IS the money on this planet & have always been.
my personal decision is base on a 2 year long of studying the Silver market. it's a PERSONAL agenda. the silver market now is in an unprecedented event leading to a great skyrocketing hike. i'd cation everyone not to take my word on this but to spend the time learning before buying any amount of silver.

you are correct about the Gov. not owning enough to back their FIAT currency.
they also have a bigger problem.
much of the privet sector DOSE own hard commodity to back their value.
that's why the Gov. have & will have a problem initiating a depression.
this is why they bought most of all mortgages, and why they continue to buy privet debt.
never before did the Gov. owned so much of America. they have to. they will OR else !
which bring us back to the first part of your post, trying to estimate the WHEN.
it is everyone's guess.
my bet is 2022 to 2027. i will not explain this on an open forum !
but i do know that Gov.'s have a way to control this. the devalued $ WILL cost the Gov. it's job, which is the rezone for all those FEMA camps BTW.
my newly established guess is that they are going to 'pull a trump' over the world. remember that book about the Donald Trump thing. when he got over his head in NYC real-estate?. well he took all of his lenders. got them in a room and simply told them : if i fall you loose all you ever invested - i need more money.
they did.! look on him now.
there are 5 major economic country's now that dump the US & as a bilateral trade. you are correct about that as well. we have a problem. the clock is ticking.

There in lies the biggest problem. Many think we owe the most to foreign countries like China etc.
Not true. The largest groups are in the US. China is maybe 8 percent at the moment.

 

[layoutshooter]

There in lies the biggest problem. Many think we owe the most to foreign countries like China etc.
Not true. The largest groups are in the US. China is maybe 8 percent at the moment.

The FIRST ones who will get 'stung' when we begin to default will be the American People. Those who hold "T" bills or Savings bonds will be told that they are worth little or nothing. Anyone who is holding government securities had better be thinking of dumping them, and soon.

 

[davekc]

Let us not forget that, for the most part, people in this country are poor because they CHOOSE to be poor. They do NOTHING to improve themselves, they don't have too, they get paid to do NOTHING. There are good jobs that people refuse to move for and DEMAND that they are ENTITLED to sit around and do NOTHING, OR, that those jobs should be moved TO them! There are terms that fit that attitude, like lazy and spoiled.

There is little belief in the idea of earning one's way through life, in accepting that the place one is in is primarily due to the choices one has made.

Yeah, I know, it's HARD. Too bad, no one ever said good things come easy. Either earn it or shut up. Begger's can't be choosers.

I think some are in for a rude awakening. Just look today as they cut the SS increase. As you have less "rich", guess what? As for the entitlement crowd, you do have to seperate the retirees, and those not capable of working from the rest. People who really need assistance with regards to welfare is roughly 25 percent with 12 months of benefits. Once passed that, you have the folks that are making a career out of it.
Some agrue that they had too many kids and can't pay for them. With free internet and phones and so many on welfare, they need to network and split childcare so two parents can work. With current job conditions, gee.....may have to work two jobs. If they refuse, take the kids away or they need to find relatives. Bet you they find employment rather quickly.
Have to be fair but firm.

 

[layoutshooter]

As I said, it is the American worker who is going to be stung first. People were FORCED to pay into Social Security. There were MASSIVE surpluses for a VERY long time that were squandered over the years. NO options, the promise was a lie, now there is little or nothing left for them and their years of labor. That contract, that was enforced at gun point, should be honored. The FIRST cuts should be on those who do NOTHING but mooch off others.

 

[davekc]

As I said, it is the American worker who is going to be stung first. People were FORCED to pay into Social Security. There were MASSIVE surpluses for a VERY long time that were squandered over the years. NO options, the promise was a lie, now there is little or nothing left for them and their years of labor. That contract, that was enforced at gun point, should be honored. The FIRST cuts should be on those who do NOTHING but mooch off others.

That I do agree with. The other bomb soon to be dropped is underfunded pensions. As it currently stands, we are upside down over a trillion (with a T) dollars.
What is even funnier, Obama's answer to jobs is to hire more government workers with pensions. I can't stop laughing at the foolishness.

 

[layoutshooter]

That I do agree with. The other bomb soon to be dropped is underfunded pensions. As it currently stands, we are upside down over a trillion (with a T) dollars.
What is even funnier, Obama's answer to jobs is to hire more government workers with pensions. I can't stop laughing at the foolishness.

Yep, and those government employees PAID into those accounts and the money was either stolen or the government did not fund their share as promised. Then the government has the audacity to procescute Madoff. Bad mouth him too whey THEY did the EXACT same thing he did.

 

[davekc]

Well there is that. On the local level they were banking on housing value to continue to increase. Bad idea. As housing values drop and the huge foreclosure rate continues, those monies are not there. Drop in a devaluing dollar, and well? I would feel comfortable saying at this point, that no pension is guaranteed. Likely cut or gone for good. This is the point that the left don't get. They think the market is just for the "millionaires and billionaires". One of these days they will wake up. Probably when their check doesn't show up.

 

[layoutshooter]

Well there is that. On the local level they were banking on housing value to continue to increase. Bad idea. As housing values drop and the huge foreclosure rate continues, those monies are not there. Drop in a devaluing dollar, and well? I would feel comfortable saying at this point, that no pension is guaranteed. Likely cut or gone for good.

Again, the loss in housing was due to government messing around with markets that they have absolutly no business in. Congress ignored and even played down the warnings about Freddie and Fanny. In addition to that, what else could some of those pension plans put their money in? Interest rates have been far too low for a very long time. As to federal government pensions, they were 'managed' by congress.

I contend that what our government has done with SS and government pensions is WORSE, FAR WORSE, that what the Madofs of the world did. Our government had the public trust, they had control of monies that were extorted from workers, and they did nothing to live up to that trust. In all reality, EVERY congressman, senator and president alive today, either in office or out should be in jail right now.

 

[davekc]

The Feds only direct the pensions for federal employees. Third party investors basically control the other pensions that are out there.

 

[layoutshooter]

The Feds only direct the pensions for federal employees. Third party investors basically control the other pensions that are out there.

That is part of what I was talking about, the federal pensions. The congress is 100% responsible for that mess. Like the postal workers, etc. They KNEW the obligations that were agreed too. They KNEW that those employees were paying into those pension plans. They were aware that those employees had NO other options open to them. When I was in I was REQUIRED to pay into the CSRS, NOT SS. A full 7%/ They spent 100%, and then some, of that fund, did NOT set aside the required amounts that THEY were obligated to do. Those are criminal acts. None of my government service time counts for my SS, nor does it for ANY federal employee that worked under the CSRS.

Any bets that there will NEVER be an accounting of what happened or any investigation of the fraud that the congress fostered on those people?

 

[davekc]

"If you can't convict, you must acquit". From the OJ trail of course, but no one is going to blame themselves. "It is all the fault of Wall Street". Or at least that is what they go with.
Just a little bit more to it than that.

 

[layoutshooter]

"If you can't convict, you must acquit". From the OJ trail of course, but no one is going to blame themselves. "It is all the fault of Wall Street". Or at least that is what they go with.

And we will CONTINUE to reelect these criminals, year in and year out and the fraud WILL continue until it collapses. There will even be some in here that will sing that
"big banker greed" Marxist BS and THEY will vote in the SAME scum that are TRULY to blame. BUT. what the hey, go for it! I believe we are DOOMED! Any wonder I believe that, in the not to distant future, People are going to rebel?

 

[davekc]

Doomed? Not necessarily. Rebellion and riots, most likely.

 

[layoutshooter]

Doomed? Not necessarily. Rebellion and riots, most likely.

Once the riots and rebellions starts we are doomed to living through the "Dark Ages" that will likely follow. I am sitting out on my boat in the middle of Lake Erie if I can.

 

[moose]

. I am sitting out on my boat in the middle of Lake Erie if I can.

O'h now i remembered, i wanted to ask you if a bottom of a lake is a good place to stuch some silver, or will the fish scanners will pick on it .

 

[davekc]

Can't escape in a lake. I'll take the boat to the Caribbean.

 

[layoutshooter]

O'h now i remembered, i wanted to ask you if a bottom of a lake is a good place to stuch some silver, or will the fish scanners will pick on it .

Mine I have now won't see it if it is less than 3" off the bottom. The one I want for the new boat likely will. Really good stuff can. Whether or not the operator could tell if the 'target' he was looking at was worth investigating is another story.

 

[layoutshooter]

Can't escape in a lake. I'll take the boat to the Caribbean.

LOL! Better you than me, I HATE hot weather! Not much use for hurricanes in a small boat either! No ducks. I will take my chances where I KNOW what to do and were to go!

 

[cubansammich]

"Maybe we don't have it so bad"


One of the biggest problems we have in this country is that we have had it FAR too good fo r FAR too long. Our poor have cable TV, cell phones and many are obese. We have forgotten what many diseases are like and complain that there MAY be a problem with a vaccine. Many people today believe that they are OWED that same things that their parents and grandparents worked their tails off for. It really it just time for many to shut up, 'buck up', get off their butts and DO SOMETHING!

Yes yes so much whining about those who are on assistance. It's nothing new. It's the old 20/80 rule. 20% of the people do 80 % of the work. Always have, always will. Ever heard of Vilfredo Pareto? He knew all about it. He theorized something now known as the "Pareto Principal" which, when applied to economics, says that 20% of something controls the other 80%. It also says that no one person cannot be made be made better off without another person being made worse off. There are countless applications for the Pareto concept, not least of which is in basic economics. The "Vital Few" will always out do the "Trivial Many". Resist all you like. You efforts will be futile.

Pareto efficiency - Wikipedia, the free encyclopedia
Vilfredo Pareto - Wikipedia, the free encyclopedia

 

[Humble2drive]

Well, it is starting already.

Bernanke defends Fed stimulus as China, Brazil raise concerns - Yahoo! News

China, Russia and Brazil are voicing their concern over the latest Fed money printing policy.

Bernanke has often defended Fed actions against domestic critics, who argue the policy of keeping interest rates near zero while ramping up asset purchases hurts savers and risks future inflation.

Critics say the Fed's unorthodox policies weaken the U.S. dollar and boost the currencies of developing countries, hurting their ability to export.

But, don't worry the Captain of the ship assures us that he is right and everyone else is wrong :

"An easing in financial conditions and greater public confidence should help promote more rapid economic growth and faster job gains over coming quarters," Bernanke said.

Hmm, did he just use the word " should " ?
Somehow that just doesn't inspire confidence.