CNBC - Dollar Will be Utterly Destroyed, Global Currency, New World Order

[Misthos]

Quote from gastropod:

Agreed - the SHTF first....but, I am more of a pessimist! I think we will see "plagues and famine" as well as wars.

I have said it before -
There are three ways to resolve a debt:
1.) Debtor pays off lender.
2.) Debtor defaults on debt - bankruptcy.
3.) Debtor kills lender - no more debt!

In our present situation most of the debt is owed to the general populace. Item #3 above. Hmmm, if only the govt could control health care...they could limit health care and let people die off in some odd plague...hmmm.

Another group that owns US debt is foreigners...they would probably want war, if the US defaulted on its debt - item #2 above

As for item #1 above.....ROFLMAO!!!! - yeah, the check is in the mail!!! We have over $99 Trillion in unfunded liabilities. Even the Federal Reserve knows we can't pay off the debt -> http://www.dallasfed.org/news/speeches/fisher/2008/fs080528.cfm

-gastropod

I'm a pessimist as well... or maybe a realist? I guess it's all relative.

Anyway.... I held back on what you said - I agree with your points, but unlike you, I didn't want to scare the children!



And by the way - Scataphagos is right - debasing the currency is the tactic used right now. It works great because it's a stealth tax and 90% of the population has no clue they're getting screwed.

However, the bond market is not dumb... and China may get grumpy. Let's think that one thru... I can't see it ending well.

 

[gastropod]

Quote from Misthos:

I'm a pessimist as well... or maybe a realist? I guess it's all relative.

Anyway.... I held back on what you said - I agree with your points, but unlike you, I didn't want to scare the children!



And by the way - Scataphagos is right - debasing the currency is the tactic used right now. It works great because it's a stealth tax and 90% of the population has no clue they're getting screwed.

However, the bond market is not dumb... and China may get grumpy. Let's think that one thru... I can't see it ending well.

I agree with you and Scataphagos - debasing is going on now - the preferred method. I don't think it will continue for long like this though. We are about to see a second round of TARP bullsh!t If I recall correctly, it wasn't long after the UK's FIRST bail out of their banks that we followed suit and had the TARP. Well, the UK just did a second bailout of RBS and LLoyds...shouldn't be long for here!

BTW - loved the comment about not upsetting the children

Scataphagos - if you read this - what about your alias - what does it mean?

-gastropod

 

[Scataphagos]

Quote from Misthos:

"... However, the bond market is not dumb... and China may get grumpy. Let's think that one thru... I can't see it ending well.

Considering how obvious the writing on the wall is, I've been amazed for quite some time that the foreigners continue to willingly invest in our Treasuries at such low yields... unless there is some secret, subversive agreement which makes it to their advantage.

 

[Scataphagos]

Quote from gastropod:

"... Scataphagos - what about your alias - what does it mean?

Gee, I hate to give this up..

"Scata" is a Greek word for "excrement"

"Phagos" in Greek means, "to eat", or "eating".

BTW... a snail is an example of a gastropod (Homer Simpson, "D'oh".... "a stomach with feet"... usual cleverness from The Simpsons..)

 

[gastropod]

Quote from Scataphagos:

Gee, I hate to give this up..

"Scata" is a Greek word for "excrement"

"Phagos" in Greek means, "to eat", or "eating".

LOL!!! That is what I thought, but didn't want to say it and have you come back with something like, "My name is Steven Cataphagos, so I chose the name scataphagos." LOL!!!

-gastropod

 

[Scataphagos]

Quote from gastropod:

LOL!!! That is what I thought, but didn't want to say it and have you come back with something like, "My name is Steven Cataphagos, so I chose the name scataphagos." LOL!!!

-gastropod

Damn... that's clever. My kind of humor. If I'd thought of it first that's what I could have said my handle is from... and all of those who understand Greek could get a private chuckle...