User Tag List

First 123 Last

Results 11 to 20 of 21

  1. #11
    Mojibake sprinkles's Avatar
    Join Date
    Jul 2012
    MBTI
    INFJ
    Posts
    2,968

    Default

    Quote Originally Posted by Not_Me View Post
    Greece is a prime example of what will happen when democracies behave irresponsibly and allow themselves to spend money they don't have. They end up leeching off more responsible nations and future generations. The US is doing the exact same thing.

    I don't know if we will have a total collapse, but if you have cash savings, inflation will wipe it out. The "simple" solution is to purchase ownership in hard assets, but that has it's own risks.
    Well the US isn't really leeching - it's kind of the other way around, actually. Investors (other countries, such as China) effectively say "We will give you this big chunk of money right now if you pay us more later."

    They're willing to do that because the US is good for the money. It's considered a secure investment.

    The trouble is not paying off the debt - they've got that covered, otherwise nobody would be willing to invest. The trouble is actually the deficit that is incurred by making good on these bonds. That's the bit that actually hurts us.

    Edit: also ironically, screaming about a collapse makes the collapse more likely to happen. If people abandon the dollar because they think it will collapse, that will actually help cause the collapse.

    Self fulfilling prophecy...

  2. #12
    Senior Member
    Join Date
    Jan 2008
    MBTI
    INTj
    Posts
    1,650

    Default

    Quote Originally Posted by sprinkles View Post
    Well the US isn't really leeching - it's kind of the other way around, actually. Investors (other countries, such as China) effectively say "We will give you this big chunk of money right now if you pay us more later."
    The US is leeching off future generations. They spend money on consumables such as wars, foreign aid, public service, health care, social programs, etc. These are not investments which will eventually pay back.
    They're willing to do that because the US is good for the money. It's considered a secure investment.
    The debt is so high that there is no possible way to pay it off, other than by printing more and more worthless paper money with the hope that others will keep accepting it. That is about to end.

  3. #13
    royal member Rasofy's Avatar
    Join Date
    Mar 2011
    MBTI
    INTP
    Enneagram
    5w6 sp/sx
    Posts
    5,932

    Default

    http://seekingalpha.com/article/1007...re-obama-s-out

    This guy is president and chief global strategist of Euro Pacific Capital, and he had alarmed people before the 2008 crash. Clearly not an Obama fan, but he has good reasons.

  4. #14
    Mojibake sprinkles's Avatar
    Join Date
    Jul 2012
    MBTI
    INFJ
    Posts
    2,968

    Default

    Quote Originally Posted by Not_Me View Post
    The US is leeching off future generations. They spend money on consumables such as wars, foreign aid, public service, health care, social programs, etc. These are not investments which will eventually pay back.
    True.

    The debt is so high that there is no possible way to pay it off, other than by printing more and more worthless paper money with the hope that others will keep accepting it. That is about to end.
    Debt will not be paid off, no.

    The deficit needs to be reduced. The debt will not go away but will be mitigated if the deficit is reduced.

    It's true that printing more money devalues the dollar, which hurts us, and makes investors scared because the securities are worth less.

    They don't have to hope that people accept it. There are plenty who are absolutely clamoring to accept it.

    Who will take a run on the dollar to help it collapse? That would be suicide.

  5. #15
    Senior Member
    Join Date
    Jan 2011
    MBTI
    intp
    Posts
    214

    Default

    If you're going to make a video about something being a mathematical certainty, it's usually a good idea to back that up. I can't comment on the accuracy of this video, because no assertions were made. I'm sure you can make plenty of arguments why the US dollar might hyperinflate, or how that would affect other currencies and the world economy, but this video didn't make any of them.

  6. #16
    Mojibake sprinkles's Avatar
    Join Date
    Jul 2012
    MBTI
    INFJ
    Posts
    2,968

    Default

    I'll take all your old dollars since they'll be worthless pretty soon.

    Hand them over, you won't be needing them right? Have this gold instead!


    .....


    That would be so convenient for me if I were a GLD broker, wouldn't it?

    Well look who has put up that video. The YouTube account is called 'SilverandGoldNow'

    Let's see what this 'SilverandGoldNow' has to say about it, with an excerpt from their own YouTube comments:

    SilverandGoldNow 2 months ago
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    Reply ·

    SilverandGoldNow 2 months ago
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    "have never been physically checked by the Bundesbank itself or other independent auditors regarding their authenticity or weight." Instead, it relies on "written confirmations by the storage sites."
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    Reply ·

    SilverandGoldNow 2 months ago
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    Reply ·

    SilverandGoldNow 2 months ago
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    Germany's gold reserves (nearly 3,400 tons estimated at $190 billion) are housed in vaults of the US Federal Reserve, the Bank of England and the Bank of France since the post-war days
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    ____What Is the Actual Book Value of Germany’s Gold Reserves ____
    Reply ·

    SilverandGoldNow 2 months ago
    What Is the Actual Book Value of Germany’s Gold Reserves
    Gold climbed $6.40 or 0.37% in New York yesterday and closed at $1,728.50. Silver hit a high of $32.434 and finished trading with a gain of 1%.
    Gold edged down on Tuesday, in tandem with equities that relinquished gains, however demand from jewellers supported prices as investors await the policy statement from the US Federal Reserve meeting to be released on Wednesday at 18:15 GMT.
    Reply ·

    SilverandGoldNow 2 months ago
    Gold edged down on Tuesday, in tandem with equities that relinquished gains, however demand from jewellers supported prices as investors await the policy statement from the US Federal Reserve meeting to be released on Wednesday at 18:15 GMT.



    Sounds totally legit, doesn't it.

  7. #17
    Mojibake sprinkles's Avatar
    Join Date
    Jul 2012
    MBTI
    INFJ
    Posts
    2,968

    Default

    Also who in their right mind is going to sell you a viable asset in exchange for a dollar that is scheduled to turn to shit?

    You think people are really going to say "Here! Have this gold! It will help you survive, and I'll take your imminently useless paper like some kind of idiot!"

    If commodities are going to be the only alternative, then people are not going to trade them to you for garbage, because that only helps you and kills them. They will sit on it like some kind of egg.

  8. #18
    IRL is not real Cimarron's Avatar
    Join Date
    Aug 2008
    MBTI
    ISTJ
    Enneagram
    5w6 sp/so
    Posts
    3,424

    Default

    The value and strength of the dollar does not depend on mathematics, so I don't see how the title statement could be true.
    You can't spell "justice" without ISTJ.

  9. #19
    Senior Member Survive & Stay Free's Avatar
    Join Date
    Jun 2009
    MBTI
    ESTJ
    Enneagram
    9 so/sx
    Posts
    21,653

    Default

    Mayans, Marxists, now capitalists?

    As these prophecies of the end times goes this isnt even the most interestings, I wonder why people cant get enough of this shit?

  10. #20
    Senior Member
    Join Date
    Jan 2008
    MBTI
    INTj
    Posts
    1,650

    Default

    Quote Originally Posted by sprinkles View Post
    They don't have to hope that people accept it. There are plenty who are absolutely clamoring to accept it.
    For now, until they realize that inflating away a debt is the same thing as refusing to honor it.

    Who will take a run on the dollar to help it collapse? That would be suicide.
    Collective action is not coordinated. The masses simply react to preserve their own capital. It's not much different from stock market crashes.

Similar Threads

  1. Video: Mathematics and Sex - Ted Talk
    By highlander in forum Typology Videos and RSS Feeds
    Replies: 6
    Last Post: 05-24-2015, 02:09 AM
  2. Replies: 3
    Last Post: 11-07-2014, 11:41 AM
  3. Neuroscience, Jungian Type and Mathematics: Insights into Student Struggles[video]
    By INTP in forum Myers-Briggs and Jungian Cognitive Functions
    Replies: 33
    Last Post: 06-07-2013, 01:12 PM
  4. Will the dollar ACTUALLY collapse?
    By sprinkles in forum Politics, History, and Current Events
    Replies: 10
    Last Post: 12-31-2012, 06:16 PM
  5. How much will the collapse of the dollar drag down others?
    By Tantive in forum Politics, History, and Current Events
    Replies: 18
    Last Post: 04-08-2010, 09:26 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Single Sign On provided by vBSSO