Lets go on the record, 3 ways you can be destroyed.

[kashirin]

Kudlow left CNBC a long time ago skippy. And again, I actually have more posts on ET being against QE then you and all your other aliases combined. I just want you to be factual. It annoys me deeply to agree with someone who can't string two facts together.

For the record, the Fed made about 79 billion in profits in 2013. Of that, 77 billion was actually paid back to the Treasury....to YOU!!!!!!!!!! Since 2009 the Fed has actually paid over 350 billion back to the taxpayers of this country. The member banks who partly own the Fed get a fixed 6% dividend a year. The rest goes back to treasury.

Now I have my criticisms of the Fed and they run deep, but let's get our facts straight.

"Get your facts first, then you can distort them how you please."

Mark Twain.

most of that Feds profit is the interest on bonds paid by the government
so the Fed printed money out of thin air and bought government bonds,
got interest, took its 6%
and then paid interest back to the government or as you say to ME
so I still own money to the Fed which just printed it, and Fed also took 6% from the interest

 

[piezoe]

most of that Feds profit is the interest on bonds paid by the government
so the Fed printed money out of thin air and bought government bonds,
got interest, took its 6%
and then paid interest back to the government or as you say to ME
so I still own money to the Fed which just printed it, and Fed also took 6% from the interest

Not exactly. The Fed doesn't "take" anything from its income except operating expenses. Member banks don't get 6% of Fed profits. The Member banks get a fixed 6% return on the capital that they must "contribute" to the Fed in return for special "stock" as a condition of joining the Federal Reserve System. Any net profit after expenses flows directly back to the U.S. Treasury.

 

[Ucan'tEatBonds]

Not exactly. The Fed doesn't "take" anything from its income except operating expenses. Member banks don't get 6% of Fed profits. The Member banks get a fixed 6% return on the capital that they must "contribute" to the Fed in return for special "stock" as a condition of joining the Federal Reserve System. Any net profit after expenses flows directly back to the U.S. Treasury.

says who, FED and their Shills.

Sorry I don't trust a word you type.

I wouldn't trust you to tell me the sky is blue. In fact if you want to freak me out, tell me the sky is blue, I'll be all dubious and confused LOL

 

[xelite777]

says who, FED and their Shills.

Sorry I don't trust a word you type.

I wouldn't trust you to tell me the sky is blue. In fact if you want to freak me out, tell me the sky is blue, I'll be all dubious and confused LOL

A good sense of humor, I like that.

And you are right, never believe anything FED shills are writing. Heck, just to be on the safe side, we should believe just the exact opposite they are saying

 

[birdman]

@ Ucan'tEatBonds - let's say there is a USA financial meltdown of epic proportions (worst in US history) in 5 or 10 or maybe 15 years from today - and for a moment, let's say both you and i are alive to see the day. Let's also say we both have "ample means" set aside today, that would easily last us 30 years from today (if inflation held within the past 30 yr range).

What action are you going to take (this coming year) to prepare you and your family for the day of reckoning? To guard against inflation / deflation or whatever comes. Just curious - I'm nearing retirement age for context.

 

[Ucan'tEatBonds]

@ Ucan'tEatBonds - let's say there is a USA financial meltdown of epic proportions (worst in US history) in 5 or 10 or maybe 15 years from today - and for a moment, let's say both you and i are alive to see the day. Let's also say we both have "ample means" set aside today, that would easily last us 30 years from today (if inflation held within the past 30 yr range).

What action are you going to take (this coming year) to prepare you and your family for the day of reckoning? To guard against inflation / deflation or whatever comes. Just curious - I'm nearing retirement age for context.

Here is what you need,

You need a secure location away from large groups of people.
You need source of water and food.
You need physical gold and little bit of silver, not too much
You need source of guns and medical supplies.

You don't need large amount of real estate, because it will be worthless like Detroit. You just need something to live in till collapse comes. Besides you'll be moving.
You don't need to hold any large amount in bonds stocks or other kind of paper. Gold should not be kept in bank security box, Argentina 2001, Yugoslavia 1991, security boxes were claimed by banks OVERNIGHT, would same happen in USA, you better believe it.

You don't need large amount of paper cash.

So what I am saying is this, live the modern city life like everything is normal and golden age is upon us. But prepare plan B and get it ready in 2-3 months just in case you gotta go.

Because for all we know, true collapse of USA won't happen till 20 years from now, so you don't want to live like a hermit till you have to.

Just my 2 cents

 

[birdman]

Just my 2 cents

And i thank you for the summary - sounds like a plan! I have most of those bases covered already - i live in the countryside in one of the sparsest populated states. I have no physical gold - might consider it. In a worst case scenario, a small flock of chickens (for eggs) would be one of the best investments a family could have.