Deflation??? Yeah right. (millionaires, real estate, credit rating, debt)

[ViewFromThePeak]

Last Gasp of a Doomed Currency

Either the US defaults and trashes its soverign credit rating or pays back on its obligations with massively depreciated dollars. Pick your poison.

[HappyTexan]

I have a wheelbarrow to cart around my money. I'm ready.

[Nor'Eastah]

Deflation is what they'd LIKE the sheeple to think, so they'll find US Treasuries a "Safe Haven" and hence save the $, rotten to the core (toilet-paper core!). So many invested in gold have been shaken out with this last washout...exactly what TPTB wanted. Now the wealthy can swoop down and pick up gold at fire-sale prices, leaving Joe Six-pack to feel pleased that someone relieved him of a losing position in gold.

It never fails...

[ViewFromThePeak]

Originally Posted by Nor'Eastah

Deflation is what they'd LIKE the sheeple to think, so they'll find US Treasuries a "Safe Haven" and hence save the $, rotten to the core (toilet-paper core!). So many invested in gold have been shaken out with this last washout...exactly what TPTB wanted. Now the wealthy can swoop down and pick up gold at fire-sale prices, leaving Joe Six-pack to feel pleased that someone relieved him of a losing position in gold.

It never fails...

Exactly. I've been having trouble getting silver bars lately. Seems like physical has such a high markup and APMEX seems to constantly sell out. The demand for 100oz bars is enormous.

I agree with shaking out J6P. If I were part of the sheeple crowd, I would've dumped my PMs and swore them off forever. Nice way to redistribute them back to the central banks at fire sale prices who will probably need to buy them up as their stockpiles might be a wee bit low.

[Philip T]

Pays back on its obligations with [at least somewhat] depreciated dollars.

===================

But that answer has been pretty obvious coming for a long time.

But with all the hype about Gold and Therehastobehyperinflation, Schiff is only catching half the story.

Some sectors under the US dollar are experiencing MASSIVE deflation. Real Estate for example. All of Real Estate imagined Trillions of value is g dropping in most areas 10% a year.

So far only fuel and food have been running up. Looks like with even just a little self-discipline US fuel use has went down, and now fuel costs are holding steady.

On average with other things trending downward, there is no massive inflation in that.

So what is one to do with the Gold Gold Gold? Let's say are we millionaires and want to be true Schiff fans. Lets take a million and buy a thousand or so ounces. Since it has no other utility than sitting on a shelf, let's line and cover the toilet with it. At least then we can get some daily use of it.

Money, resources and talents are to be used for good. Not horded.

[Lulu101]

This is what I was trying to tell people on the doomer thread but no one would listen. Now is the ideal time to take on more debt.

[Wild Style]

Originally Posted by ViewFromThePeak

Exactly. I've been having trouble getting silver bars lately. Seems like physical has such a high markup and APMEX seems to constantly sell out. The demand for 100oz bars is enormous.

I agree with shaking out J6P. If I were part of the sheeple crowd, I would've dumped my PMs and swore them off forever. Nice way to redistribute them back to the central banks at fire sale prices who will probably need to buy them up as their stockpiles might be a wee bit low.

I have two one troy ounce silver bars. Thinking about buying more. Wont pay off for many years though.

[Lulu101]

Everyone just take my advice: don't swallow precious metals. They're very painful to pass.

Originally Posted by Wild Style

I have two one troy ounce silver bars. Thinking about buying more. Wont pay off for many years though.

[Humanoid]

Deflation is what they'd LIKE the sheeple to think, so they'll find US Treasuries a "Safe Haven" and hence save the $

Yes because deflation is so pleasant!

This is great, what else do you except Schiff to say? His living is based on this sort of thing. This is rather typical though, "hey the markets aren't doing what I said they would, but they will soon!".

Anyhow, much of what was said was misleading and it certainly doesn't put a nail in the deflation vs inflation debate. Its just repeating what he has always stated.

[Wild Style]

Originally Posted by Humanoid

Yes because deflation is so pleasant!

This is great, what else do you except Schiff to say? His living is based on this sort of thing. This is rather typical though, "hey the markets aren't doing what I said they would, but they will soon!".

Anyhow, much of what was said was misleading and it certainly doesn't put a nail in the deflation vs inflation debate. Its just repeating what he has always stated.

whoa, wait. your saying Schiff has been off base on whats happening? Are you really serious? the only thing he did wrong that I saw was, he made a exact date claim on what the market would do. when that date came it didnt happen. As I have said in previous threads, making exact date claims is folly given no one is a psychic and no one can really determine 100% what all participants will do given real world setting. Calling long term trends he has been spot on, short term, no. But that is the case of most economist, but again they are not psychics. As for how he gets paid and calling into question his credentials, thats sort of stupid/silly. The government also has reasons to lie about their numbers given self interest. Same is true of any sources, so the point is to understanding the underlying factors to be able to determine if a person is saying is plausable.