it really is game over, science fiction becomes fact

[peilthetraveler]

Quote from PlusMinus:

What recovery are you talking about? How long do you think any country can last when it uses fiat currency? Look at history and then tell us why this time is different?

You believe the Fed? Have you any recollection at the number of predictions made by Berneke about the state of the economy since 07 that have turned out to be absolutely wrong?

LOL.

The average country lasts 20-50 years when using fiat money before it implodes. Our money has been off the gold standard for almost 40 years now. If we make it another 10 years, I would be surprised.

The kicker is, alot of people think its just going to be the US that is going to implode, but what happens when countries use our currency instead of gold as their reserve standard. They implode with us.

In my opinion, the collapse is not going to be an american collapse...its going to be a worldwide collapse.

You better have some gold & silver, or be a farmer, or gold miner when this happens.

 

[the1]

Huh. I never actually considered that because I assumed my dollars would have value and I'd be giving you something of value. Still ain't worried. Dollars will be accepted for a while longer. Why don't we just cut to the chase and you send me 20 bucks

Quote from peilthetraveler:

Thats a pretty one sided bet. If you win, you get 20 real spendable dollars. If you are wrong and you have to pay us, we get 20 worthless unspendable dollars.

How about this...if you are right, we pay you 20$. If we are right, you pay us an ounce of silver. Thats a more fair bet for any of the gamblers out there.

 

[afto]

Yes indeed.
I'm old enough to remember attending an end of the world party in the late 70's. Guess what - nuclear armaggedon
never really took off even though, at the time, I figured it wasnt worth making a long term plan longer than the next weekend.
Get out and smell the roses folks.
There will always be bad stuff out there and there'll always be good stuff. It just takes a little more practice to notice the good stuff - a bit like finding the right trades....



I'm 50 this year.You know what,screw it. I'm done with worrying about any of it.Because there is not a damn thing i,or anyone here can do about it.
The world is not,unfortunately,ever going to be run by the good guys. And the rest of us haven't even got the guts to vote for them.The tragedy is that the masses have the real power,but no clue how to use it.Though i feel encouraged when i look at Iran or Iceland.
At the end of the day,just be happy and enjoy your life as much as possible,for there is much to enjoy.
And if you are in your 20's and reading this you will probably post something similar in 30 years time in all probability- and probability is a word traders understand well.

 

[tradestrong]

Quote from gastropod:

Sorry to disagree with you DB, but I think the time frame is MUCH closer. I will admit being wrong in that I thought the "collapse" was going to occur a year or two ago, but our politicians have proven to be bigger idiots than I thought (Dems and Reps included in that list)! I tend to think within the next 12 to 24 months we will see a collapse. I tend to believe within the first 12 month time frame. If the politicians had had intestinal fortitude, they would have let the mortage/banking system collapse a year or so ago, but instead they took the cowardly way out...the way out that leads to currency collapse. We are now on the road to currency collapse which will devastate the world. If they (the politicians) had had the balls, then we would only have seen a REALLY bad real estate market (both residential and commercial), but now we are TOTALLY hosed!. The next big trigger to economic collapse may be food. I won't elaborate here, but do the research if you are intrigued!

-gastropod

So let's get this straight...you admit to being wrong a year or 2 ago, but this time you're going to be right in the next 1 to 2 years?

haha...ok.

 

[tradestrong]

Quote from black diamond:

I'm a little younger but our big fears growing up were getting nuked, getting aids from mosquitos, needing to learn japanese to get a job, and (my favorite) the killer bees. I still worry about the bees sometimes, maybe they are still coming and just late.

lol...you must be about the same age as me...because I remember all those things that were going to "destroy" mankind too.

 

[Misthos]

I think it's funny how some of the old hats here dismiss a collapse because they never saw one materialize after all the warnings they've heard in the past.

The story about the boy who cried "Wolf!" one too many times, is instructive.

Let's review the story about the boy who cried wolf. A shepherd would cry "wolf!" outside the village and to his amusement, all the villagers would run to his aid even though he knew there was no wolf. He would do this often for fun. One day, the villagers decided to ignore him - that was the same day that a wolf attacked the boy. So what was the lesson to be learned?

That lying or being wrong about a threat discredits you.

But guess what? There's another lesson to that story that most people ignore. You know what that is?

Wolves exist.

And you know what? Ultimately, inevitably, they show up. Maybe during your life, or during someone else's life, but the danger exists nonetheless. But to dismiss the wolf's existence because of prior false alarms is naive. To think that societal/economic collapse only exists in the history books or the third world is arrogance.

 

[tradestrong]

Quote from Misthos:

I think it's funny how some of the old hats here dismiss a collapse because they never saw one materialize after all the warnings they've heard in the past.

The story about the boy who cried "Wolf!" one too many times, is instructive.

Let's review the story about the boy who cried wolf. A shepherd would cry "wolf!" outside the village and to his amusement, all the villagers would run to his aid even though he knew there was no wolf. He would do this often for fun. One day, the villagers decided to ignore him - that was the same day that a wolf attacked the boy. So what was the lesson to be learned?

That lying or being wrong about a threat discredits you.

But guess what? There's another lesson to that story that most people ignore. You know what that is?

Wolves exist.

And you know what? Ultimately, inevitably, they show up. Maybe during your life, or during someone else's life, but the danger exists nonetheless. But to dismiss the wolf's existence because of prior false alarms is naive. To think that societal/economic collapse only exists in the history books or the third world is arrogance.

Let's get real here. Nobody on this board has any superior knowledge or insight into what will happen in the future. Everybody thinks they are Nostradamus. If there ever was this great global collapse with all the severity that the local "Prophets" predict, then it doesn't matter what the hell you do...you are screwed no matter how much protection you supposedly have.

I on the other hand choose to be conservative and smart enough to survive a seriously bad long-term recession.

Yes...if the boys who cry wolf here are right, and the whole world is screwed, do I really freakn' care if I'm alive digging my farm by hand, fighting off all the hoodlums off with my bazooka, living in my cold and wet fallout shelter, and drinking stagnant water I have in jars? Oh...but at least I could admire all the pretty silver I have stored up. Jeez...what fun that would be.

No...I don't freakn' care. I'd rather be dead in the local prophets scenario. So...while they worry on a daily basis about the what if, I'll look at the probability of it happening being extremely small and not get my panties into a snizzy everyday. I'll just be smart enough to be able to live at a relatively high standard in the more likely scenario of a severe recession lasting a few years or more.

 

[PlusMinus]

Quote from tradestrong:

Let's get real here. Nobody on this board has any superior knowledge or insight into what will happen in the future. Everybody thinks they are Nostradamus. If there ever was this great global collapse with all the severity that the local "Prophets" predict, then it doesn't matter what the hell you do...you are screwed no matter how much protection you supposedly have.

I on the other hand choose to be conservative and smart enough to survive a seriously bad long-term recession.

Yes...if the boys who cry wolf here are right, and the whole world is screwed, do I really freakn' care if I'm alive digging my farm by hand, fighting off all the hoodlums off with my bazooka, living in my cold and wet fallout shelter, and drinking stagnant water I have in jars? Oh...but at least I could admire all the pretty silver I have stored up. Jeez...what fun that would be.

No...I don't freakn' care. I'd rather be dead in the local prophets scenario. So...while they worry on a daily basis about the what if, I'll look at the probability of it happening being extremely small and not get my panties into a snizzy everyday. I'll just be smart enough to be able to live at a relatively high standard in the more likely scenario of a severe recession lasting a few years or more.

Straw man argument. Typically I see this a lot from bulls here. They suppose that the bear scenario is so catastrophic that silver and gold are useless. Of course most bears here are not talking about such a ridiculous sci-fi scenario, but rather something akin to Weimar Germany, or several degrees worse. Those are the scenarios we're talking about and they have real potential.

 

[DrPepper]

Quote from Anaconda:

A collapse and distrust in all major currencies is much more likely, with a global currency emerging as the "savior"

Bingo.

Bush's initial $700 billion bank bail-out plan in October of 2008 in response to the financial crisis was purely a reflexive response to ensure that the next great depression did not begin on his watch.

However, when Obama got in office, it became apparent that there was no way out of this financial mess. So Bernanke decided to keep interest rates at or near zero and print money, not to solve our financial problems, but to avert a financial collapse. Once other major governments realized what the US was doing, they protested and called for a new world reserve currency to replace the US dollar:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aeFVNYQpByU4

There may already be a secret agreement to initiate this new world currency, but the governments cannot let the people know or they would start dumping their fiat currencies in favor of gold and silver. Since China holds so many US dollars, they are certainly in on the agreement as well. I do not fully understand how the Chinese Yuan is valued relative to other currencies, but I believe that it is being manipulated by China to be undervalued, which is why China is telling their citizens to buy gold and silver, which they will then be able to trade for the new world currency.

However, the fact that a lot of countries now appear to be in worse financial shape than the US and that the US dollar is rising in spite of how many have been printed, has likely put the new world currency plan on hold.

However, if the US experiences further economic problems this year, like another wave of real estate foreclosures, and if the US cannot finance further bailouts because the bond market collapses due to a lack of buyers, that could raise the spector of US default, which will lead to the institution of a new world currency.

 

[tradestrong]

Quote from PlusMinus:

Straw man argument. Typically I see this a lot from bulls here. They suppose that the bear scenario is so catastrophic that silver and gold are useless. Of course most bears here are not talking about such a ridiculous sci-fi scenario, but rather something akin to Weimar Germany, or several degrees worse. Those are the scenarios we're talking about and they have real potential.

hokey dokey Nostra...let me know when the next massive asteroid is going to hit too since you obviously know the future.

But I still see you missed my point. I'd rather be dead than living in constant fear that somebody will kill me for my last piece of bread and my pretty silver. You enjoy living your life in fear while I "that didn't prepare" am peacefully in my grave.