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Old 03-18-2016, 05:31 PM
 
Location: Wisconsin
2,201 posts, read 1,868,094 times
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I 'm not pretending to be a financial wizard inspite of being an investment prodigy ( in my own mind)
but hey my little lambs we are cash debted 19,166,147 ,019, 500,50 albeit 19 trillion in "cash debt".
Moving along it must be forbidden ( nobody cares) to add another 85 trillion ( oh my!!) via ENTITLEMENTS!!! Just The cash Government cash debt ( not including 4 trillion consumer debt) you would need $59,445 from every single US person (over 333 million) . So start writing checks $8.25-12.00 hourly suckas!! Seriously, we are 215 years from recovery and it needs to be said just in case some real prodigy can dig us out!!!
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Old 03-18-2016, 07:15 PM
 
Location: ATX-HOU
10,216 posts, read 8,090,097 times
Reputation: 2037
Do you need a hug? Or perhaps a puppy?
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Old 03-18-2016, 08:54 PM
 
13,811 posts, read 27,359,709 times
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In our economy debt = money

You pay that debt back we have no money. Not good.
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Old 03-19-2016, 04:33 AM
 
5,902 posts, read 4,401,824 times
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Quote:
Originally Posted by wheelsup View Post
In our economy debt = money

You pay that debt back we have no money. Not good.

Yes. Debt will always be increasing in the federal reserve system. Every dollar must be borrowed into circulation. Thus the interest was never created. As a result, the central banks maintain a permanent hold on labor and assets through inflation and deflation.


It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. -- Henry Ford



I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. -- Thomas Jefferson


Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." -- George Washington
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Old 03-19-2016, 07:18 PM
 
Location: Spain
12,722 posts, read 7,520,312 times
Reputation: 22633
Quote:
Originally Posted by openmike View Post
I 'm not pretending to be a financial wizard inspite of being an investment prodigy ( in my own mind)
Do you actually invest? Reason I ask is from my experience the posters who take the most extreme predictions like you have on these forums calling for financial collapse/martial law by 2015 are usually people who talk a lot and consider themselves experts but don't actually invest in anything.

Since an investment prodigy would be someone who has great success investing and thus by definition must be an investor, curious what you invest in openmike? Do you short the stock market over and over? Have gold bars buried in the woods? Real estate empire? Forex wizard with fingers on the pulse of international events? Share with us your investment portfolio oh prodigy of investing!


Usual prodigy reference:

Quote:
Originally Posted by openmike View Post
With your permission I have to share my projections for 2015 and as the saying goes it ain't pretty! Being obnoxious and taking a negative position is way out of character for me so try not to get
your panties in a bunch!
1. Economic collapse of the international momentary system.
2. Largest market crash in US history
3. Attack on US soil by ISIS ( threats to leaders)
4. Pressure on Social Security ( US funding 50 billion yearly not
collected from payrolls)
5. Marshall Law
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Old 03-19-2016, 11:55 PM
 
30,873 posts, read 36,825,967 times
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Quote:
Originally Posted by wheelsup View Post
In our economy debt = money

You pay that debt back we have no money. Not good.
Which is why we need to abolish the debt based monetary system. It's set up as a way to enslave people and nation states.
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Old 03-19-2016, 11:58 PM
 
4,873 posts, read 3,583,830 times
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Quote:
Originally Posted by Thatsright19 View Post
Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." -- George Washington
Would it surprise you to learn that George Washington did not have a very advanced understanding of macroeconomics? The only difference between paper money and others is that paper can be managed.
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Old 03-20-2016, 05:57 AM
 
5,902 posts, read 4,401,824 times
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Quote:
Originally Posted by FrankMiller View Post
Would it surprise you to learn that George Washington did not have a very advanced understanding of macroeconomics? The only difference between paper money and others is that paper can be managed.
The End of Dollar Hegemony

Today the principles are the same, but the process is quite different. Gold no longer is the currency of the realm; paper is. The truth now is: “He who prints the money makes the rules”-- at least for the time being. Although gold is not used, the goals are the same: compel foreign countries to produce and subsidize the country with military superiority and control over the monetary printing presses.

Since printing paper money is nothing short of counterfeiting, the issuer of the international currency must always be the country with the military might to guarantee control over the system. This magnificent scheme seems the perfect system for obtaining perpetual wealth for the country that issues the de facto world currency. The one problem, however, is that such a system destroys the character of the counterfeiting nation’s people-- just as was the case when gold was the currency and it was obtained by conquering other nations. And this destroys the incentive to save and produce, while encouraging debt and runaway welfare.

The pressure at home to inflate the currency comes from the corporate welfare recipients, as well as those who demand handouts as compensation for their needs and perceived injuries by others. In both cases personal responsibility for one’s actions is rejected.

When paper money is rejected, or when gold runs out, wealth and political stability are lost. The country then must go from living beyond its means to living beneath its means, until the economic and political systems adjust to the new rules-- rules no longer written by those who ran the now defunct printing press.

In the short run, the issuer of a fiat reserve currency can accrue great economic benefits. In the long run, it poses a threat to the country issuing the world currency. In this case that’s the United States. As long as foreign countries take our dollars in return for real goods, we come out ahead. This is a benefit many in Congress fail to recognize, as they bash China for maintaining a positive trade balance with us.

The artificial demand for our dollar, along with our military might, places us in the unique position to “rule” the world without productive work or savings, and without limits on consumer spending or deficits. The problem is, it can’t last.

Last edited by Thatsright19; 03-20-2016 at 06:05 AM..
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Old 03-20-2016, 07:49 AM
 
4,873 posts, read 3,583,830 times
Reputation: 3881
The UK transitioning from empire to not-empire with zero impact on its currency sorta blows up your theory.
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Old 03-20-2016, 02:55 PM
 
5,902 posts, read 4,401,824 times
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The UK was in the rather unique position of being extremely close allies with the United States during its decline. The U.s greatly benefited from picking up and using much of the groundwork laid by the British empire. The close relations buoyed their position and they have remained a key world power. The pound is still a reserve currency, and it is still part of the SDR basket. GB also earned/received key positions in the bodies set up after world war 2 like the UN.


"World trade became a game where the U.s makes dollars, and the rest of the world makes things that dollars can buy. It's a form of empire more slick than the British could have ever dreamed of.


As long as the U.s citizens enjoy the benefits of extracting real goods and services from its "colonies" in exchange for depreciating paper dollars that the private federal reserve can make unlimited quantities of, it comes out ahead"








Quote:
By the end of the war, the economy of the United Kingdom was exhausted. More than a quarter of its national wealth had been spent.


Britain's war debt was described by some in the American administration as a "millstone round the neck of the British economy". Although there were suggestions for an international conference to tackle the issue, in August 1945 the U.S. announced unexpectedly that the Lend-Lease programme was to end immediately.


The abrupt withdrawal of American Lend Lease support to Britain on 2 September 1945 dealt a severe blow to the plans of the new government. It was only with the completion of the Anglo-American loan by the United States to Great Britain on 15 July 1946 that some measure of economic stability was restored. However, the loan was made primarily to support British overseas expenditure in the immediate post-war years and not to implement the Labour government's policies for domestic welfare reforms and the nationalisation of key industries. Although the loan was agreed on reasonable terms, its conditions included what proved to be damaging fiscal conditions for Sterling. From 1946-1948, the UK introduced bread rationing which it never did during the war


Historian Alan Sked has commented that, "the U.S. didn't seem to realize that Britain was bankrupt", and that the loan was "denounced in the House of Lords, but in the end the country had no choice."[SIZE=2][7][/SIZE] America offered $US 3.75bn (US$57 billion in 2016) and Canada contributed another US$1.19 bn (US$16 billion in 2016), both at the rate of 2% annual interest


Last edited by Thatsright19; 03-20-2016 at 03:10 PM..
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