Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What’s the exact limit of debt to gdp where you think this collapse will occur? What’s the limit?
Economic Armageddon meaning what? For example, countries like Japan and Germany had their infrastructure reduced to ash and came back even stronger. The U.S still has its fully in place. How far do you think it will fall? For how long. Longer than japan and Germany?
Americans will be impoverished? In what way? Compared to the rest of the world? Compared to who? Because right now, we have 20% of the global economy with 4% of the population.
It seems to me that you’re the one who needs education about the world financial system. The dollar has no challenger. The other major players are major allies in the euro, Japan, and U.K. spheres.
The difference between now and then (right after WWII) is that then, the infinite "growth" and infinite credit expansion scheme still had plenty of steam left. Now it's running our of steam.
I don't know where the "limit" is. None of us will know where that line is until after we've crossed it. And by then it will be far too late to do anything about it.
Americans will be impoverished because the currency is going to collapse. The USD and it's dominant position in the world has been the main thing allowing us to live high on the hog for so long- to consume rampantly without producing, and to rack up so much debt and counterfeit currency into existence with seemingly no consequence. I never said that any other currency will replace the dollar. All of the other currencies are sick, but the USD is fundamentally one of the sickest. No, it's not the "cleanest dirty shirt in the hamper" or "the best horse in the glue factory."
Peter wrote this fear porn novel in 2012 urging everyone to buy gold, here we are 8 years later and gold is lower than it was in 2012 and if you invested in NDX you're up over 220%, SPY over 100%.
I can probably buy a chicken in Bumdiddle, NM with a 1960 silver dime, no internet connection required. How many chickens can you buy with a share of SPY?
Peter wrote this fear porn novel in 2012 urging everyone to buy gold, here we are 8 years later and gold is lower than it was in 2012 and if you invested in NDX you're up over 220%, SPY over 100%.
He also pushed people to oil, said QE would never work, that the euro would over take the dollar. He predicted the dollar index would crash, and it soared massively for years.
His gold predictions were something like $5,000 an ounce by 2011 or something.
It’s unfortunate, because he looked like an absolute fool after 2008, but now he’s back again dooming it up (not that he ever left) because were having another unfortunate economic time. Hopefully, his fund investors don’t get absolutely annihilated like last time he destroyed their value with his idiotic predictions.
He also pushed people to oil, said QE would never work, that the euro would over take the dollar. He predicted the dollar index would crash, and it soared massively for years.
His gold predictions were something like $5,000 an ounce by 2011 or something.
It’s unfortunate, because he looked like an absolute fool after 2008, but now he’s back again dooming it up (not that he ever left) because were having another unfortunate economic time. Hopefully, his fund investors don’t get absolutely annihilated like last time he destroyed their value with his idiotic predictions.
Lol, "QE" didn't work. It failed pathetically- which is why we're doing it again. And why this "QE" will end up being many times bigger than the past ones combined.
Lol, "QE" didn't work. It failed pathetically- which is why we're doing it again. And why this "QE" will end up being many times bigger than the past ones combined.
There was real inflation adjusted gdp growth during that time period. We had some of the longest jobs and stock growth in history. You don’t get to say something didn’t work because a decade later there’s a contraction in the business cycle. 11 years is basically 1/7th of an average Americans life. If some fool had waited for peters, $2,000 and $5,000 gold, they’d have lost out tremendously. Or his other terrible euro centric predictions. Or his oil predictions.
And you’ll notice that idiot sells his books and doom in usd. He’s happy to collect that worthless currency. He’s also happy to measure his gold...in usd value.
The fact that he’s your go to wack job is one of the least surprising things ever.
I’m still waiting on that unsustainable debt to gdp ratio.
The difference between now and then (right after WWII) is that then, the infinite "growth" and infinite credit expansion scheme still had plenty of steam left. Now it's running our of steam.
I don't know where the "limit" is. None of us will know where that line is until after we've crossed it. And by then it will be far too late to do anything about it.
Americans will be impoverished because the currency is going to collapse. The USD and it's dominant position in the world has been the main thing allowing us to live high on the hog for so long- to consume rampantly without producing, and to rack up so much debt and counterfeit currency into existence with seemingly no consequence. I never said that any other currency will replace the dollar. All of the other currencies are sick, but the USD is fundamentally one of the sickest. No, it's not the "cleanest dirty shirt in the hamper" or "the best horse in the glue factory."
Explain to me how the currency is going to collapse. The usd is the standard which all other currencies float against. So if the dollar falls, someone else has to be gaining. But the other central banks intervene to maintain specific ranges versus the usd. There isn’t an alternative. There’s absolutely nothing to fill the power vacuum.
Why would the people holding 63% of their national reserves in usd sit by and let it evaporate?
Also, the line is only blurry to those who don’t understand finance. You can look at an individual or business and know where the line is. It’s commonly called a debt spiral. The U.S is absolutely no where near insolvency (debts exceeding its assets). Or you have other ratios to signal alarm. There’s always time to react and make adjustments. It’s not some bright line test that just comes up on you. The fact you can’t provide a number makes your prediction absolutely worthless. I personally have debt to my income well over 100% and am at very little risk for a collapse yet the us government with the most powerful economy and most powerful non nuclear instrument of power in the world (the usd) is not able to creep above 100% debt to gdp?
Explain to me how the currency is going to collapse. The usd is the standard which all other currencies float against. So if the dollar falls, someone else has to be gaining. But the other central banks intervene to maintain specific ranges versus the usd. There isn’t an alternative. There’s absolutely nothing to fill the power vacuum.
Why would the people holding 63% of their national reserves in usd sit by and let it evaporate?
There is an alternative.
Fiat currencies come and go, but real, honest money ie gold and silver always remain.
The USD is not above the laws of economics. I'm sure the mighty Roman empire thought their Denarius would never collapse. I'm sure they thought they were "too big to fail" too. It's called hubris, and all the mighty empires throughout history develop a bad case of it.
Peter wrote this fear porn novel in 2012 urging everyone to buy gold, here we are 8 years later and gold is lower than it was in 2012 and if you invested in NDX you're up over 220%, SPY over 100%.
Schiff ws recommending gold in the early 2000's, it was about $300 then. Its over $1700 now.
Fiat currencies come and go, but real, honest money ie gold and silver always remain.
The USD is not above the laws of economics. I'm sure the mighty Roman empire thought their Denarius would never collapse. I'm sure they thought they were "too big to fail" too. It's called hubris, and all the mighty empires throughout history develop a bad case of it.
You think the world war 2 victory powers are going to give up their control? You’ll see this world turned to ash before that ever happens. There’s not an alternative. You can ask gaddafi and saddam how that path ends.
Have you ever purchased anything in your life with gold or silver?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
