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Author Topic: This is the way the world ends  (Read 202188 times)

Moonbeam

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Re: This is the way the world ends
« Reply #315 on: November 09, 2010, 03:13:30 pm »

... that's General Motors, General Mills, General Electric, General Dynamics and General Sanders - oops, no Sanders was a Colonel, I forgot...

Thanks for making me laugh!

SS - Good to see you on here :)
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I'm not where I want to be, but I'm better than where I was!

Freedom is not being able to do what you want to do; freedom is being able to NOT do what you don't want to do.

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Silver

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Re: This is the way the world ends
« Reply #316 on: May 25, 2011, 05:18:50 pm »

John Williams has updated his Hyperinflation Report for 2011.

This is must-read material.  Sit down and have something strong to drink at hand before you read it.

His original prediction was for onset of a full-bore hyperinflation sometime between 2010 and 18.
His 2010 update moved that to the next five years.

Since then we've had
  • the Fed’s formal monetization of U.S. Treasury debt aimed at debasing the U.S. dollar;
  • the sharpest post-World War II annual decline in broad money growth;
  • the pronouncement of an official end to the 2007 recession despite no meaningful recovery;
  • passage of the hugely expensive Obamacare;
  • continuance of 2 acknowledged wars, at least 2 unacknowledged wars, and start of a new unofficial war in Libya
  • mid-term elections
  • submission of a federal budget that proposes spending $3 for every $2 in revenue
  • months where federal spending was over 3 times revenues
  • Social Security and SSDI entering permanent deficits, requiring additional funds from the Treasury
  • clear and growing signs of a flight from the US dollar as a safe haven by other nations and wealthy individuals
  • Gold rising (dollar falling) from $1100 to $1500 per ounce
  • Silver rising (dollar falling and non-wealthy people responding) from $34 to well over $50, before being driven back to $38 by manipulating the trading rules
   

He now anticipates the onset of hyperinflation between March 2011 and one year from now.  That's right, it may already be underway.

Quote
The U.S. economic and systemic solvency crises of the last two years are just precursors to a Great Collapse: a hyperinflationary great depression. Such will reflect a complete collapse in the purchasing power of the U.S. dollar, a collapse in the normal stream of U.S. commercial and economic activity, a collapse in the U.S. financial system as we know it, and a likely realignment of the U.S. political environment. The current U.S. financial markets, financial system and economy remain highly unstable and vulnerable to unexpected shocks. The Federal Reserve is dedicated to preventing deflation, to debasing the U.S. dollar. The results of those efforts are being seen in tentative selling pressures against the U.S. currency and in the rallying price of gold.

Quote
The early stages of the hyperinflation would be marked simply by an accelerating upturn in consumer prices, a pattern that already has begun to unfold in response to QE2.

Quote
Physical gold (sovereign coins priced near bullion prices) remains the primary hedge in terms of preserving the purchasing power of current dollars.  In like manner, silver is in this category.  Also, holding stronger major currencies such as the Swiss franc, Canadian dollar and the Australian dollar, likely are good hedges (see Financial Hedges and Investments. ).

In terms of survival on a day-to-day basis, U.S.-based individuals should be building a store of goods in preparation for a manmade disaster, much as they would for a natural disaster such as an earthquake.  Economic activity probably would devolve to a barter system, but such could take months to become fully functional (see Barter System.).

The time for preparation is nearly over.  The hall is rented, the orchestra is not only engaged, it's warming up.  You can hear the music if you listen.  Soon we shall see who can dance.

Peace,

Silver
« Last Edit: May 25, 2011, 05:21:56 pm by Silver »
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ZooT_aLLures

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Re: This is the way the world ends
« Reply #317 on: May 25, 2011, 06:49:57 pm »

Ya' spose if it happens slow enough no one will notice? :laugh:
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Even some cowboy and indian outlaws in the 1800's eventually stopped sleeping under buffalo skins, and came to town to entertain paying customers. For some I imagine the bruising of their ego never healed.

We all have some scar tissue that never lets us completely forget the intent of the adventure.

Junker

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Re: This is the way the world ends
« Reply #318 on: May 25, 2011, 07:04:54 pm »

We need to convince the other currencies to hyper-inflate
in unison-- then nobody need hold back.  And, think of all
the money the govts will get to spend.  Think of all the
money the politicians will get to spend.
        Such a deal!!
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ZooT_aLLures

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Re: This is the way the world ends
« Reply #319 on: May 25, 2011, 09:04:19 pm »

Oh, and while we're at it impose price and wage controls, to assure that everyone gets and gives "their fair share"  :rolleyes:
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Even some cowboy and indian outlaws in the 1800's eventually stopped sleeping under buffalo skins, and came to town to entertain paying customers. For some I imagine the bruising of their ego never healed.

We all have some scar tissue that never lets us completely forget the intent of the adventure.

Silver

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Re: This is the way the world ends
« Reply #320 on: May 26, 2011, 04:03:10 am »

I know it's irony, but be careful what you wish for. 

The charade has lasted this long in part because other currencies are inflating in unison. Williams' report lays out in devastating detail how the US government and federal reserve have broken away and are inflating at a rate other countries cannot and will not follow.

As for wage and price controls, they are nearly certain, sooner rather than later.

Peace,

Silver
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Junker

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Re: This is the way the world ends
« Reply #321 on: May 26, 2011, 09:26:53 am »

"Inflating in unison" may very well have matched some people's
understanding the system way back. As the US became the 'big gun'
after war2, it got the prize position.

   Bretton Woods system

   Post-war international gold-dollar standard (1946–1971)

And now thinks it can inflate all it wants, without serious consequence. Typical hubrisof a 'Mr. Big'.
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Moonbeam

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Re: This is the way the world ends
« Reply #322 on: May 26, 2011, 01:42:39 pm »

 :panic:
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I'm not where I want to be, but I'm better than where I was!

Freedom is not being able to do what you want to do; freedom is being able to NOT do what you don't want to do.

"We must not amuse ourselves with the notion that we have done something when we have only formed a good resolution. Power comes by doing and not by resolving." Charlotte Mason

"Don't hurt people and don't take their stuff." Courtesy of FreedomWorks

ZooT_aLLures

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Re: This is the way the world ends
« Reply #323 on: May 26, 2011, 08:43:17 pm »

Quote
As for wage and price controls, they are nearly certain, sooner rather than later.

Of course they are...........after all, how can one fight runaway prices due to hyperinflation other than to lock the prices.
And how can one fight runaway wages due to hyperinflation other than to lock those wages.

The bottom will drop out of production either way, but that's either besides the point, or precisely the point.
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Even some cowboy and indian outlaws in the 1800's eventually stopped sleeping under buffalo skins, and came to town to entertain paying customers. For some I imagine the bruising of their ego never healed.

We all have some scar tissue that never lets us completely forget the intent of the adventure.

slidemansailor

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Re: This is the way the world ends
« Reply #324 on: May 26, 2011, 11:14:08 pm »

... and then The Government will declare war on the hoarders and selfish farmers who refuse to distribute their food and wealth to those in need.  I'm sure you all have read the grasshopper and ant story where the selfish ant gets tossed out of his home cuz the grasshopper victim needs a place to stay and food to eat.  ... Guilty of being prepared...
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ZooT_aLLures

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Re: This is the way the world ends
« Reply #325 on: May 26, 2011, 11:24:13 pm »

Think I heard that story..........

Didn't the grasshopper end up croaking too. because those who gave the ant the toss ate all the food and stayed in the house themselves?
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Even some cowboy and indian outlaws in the 1800's eventually stopped sleeping under buffalo skins, and came to town to entertain paying customers. For some I imagine the bruising of their ego never healed.

We all have some scar tissue that never lets us completely forget the intent of the adventure.

gaurdduck

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Re: This is the way the world ends
« Reply #326 on: May 26, 2011, 11:46:11 pm »

The way I heard the story, the grasshopper begged the ants for food and a warm place to stay, and they just said no... and he decided he was entitled and tried to force his way in whereby the ants added him to the larder.
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clarence

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Re: This is the way the world ends
« Reply #327 on: May 27, 2011, 12:45:49 am »

The way I heard the story, the grasshopper begged the ants for food and a warm place to stay, and they just said no... and he decided he was entitled and tried to force his way in whereby the ants added him to the larder.

ok, now that was funny.

clarence
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Silver

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Re: This is the way the world ends
« Reply #328 on: May 28, 2011, 09:52:23 am »

Gary North has a good article on Trigger Points at LRC.

Quote
To survive the coming fiscal cataclysm, one must be vocal now. One must also put his money where his mouth is. And he had better keep more of his money than the competition.

Yep.

Peace,

Silver
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Junker

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Re: This is the way the world ends
« Reply #329 on: May 28, 2011, 10:25:28 pm »

From the North-pirce:

    On April 5, 1933, President Franklin Roosevelt, in office for one month, signed
    Executive Order 6102.

      Executive Order 6102 required U.S. citizens to deliver on or before May 1, 1933, all
      but a small amount of gold coin, gold bullion, and gold certificates owned by them
      to the Federal Reserve, in exchange for $20.67 per troy ounce. Under the Trading
      With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of
      the order was punishable by fine up to $10,000 ($167,700 if adjusted for inflation as
      of 2010) or up to ten years in prison, or both.

North brings up interesting (Trigger) points.

Is this event in the history books at your school-- high, college, or any?
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