"It's getting that desperate here in California. The numbers are not telling the truth."
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"It's getting that desperate here in California. The numbers are not telling the truth."
But before you get ready to burn your fiat currency, it’s not actually a turnaround the IMF sees being executed any time soon.
As they conclude:
It is understood that some of the ideas discussed are unlikely to materialize in the foreseeable future absent a dramatic shift in appetite for international cooperation.
However, in a possible indication of how seriously the SDR is being taken, the U.S. Postal Service is quoting SDR to dollar conversion rates:
1. Convert the U.S. dollar amount to the special drawing right (SDR) value and enter it in the SDR value block. For example:
INSURED VALUE
$100.00 (U.S.)
65.76 SDR
(Here is the original web page, without highlighting.).
defio70 wrote:on Thu Aug 26, 2010 4:14 pmWe will return to the valuation nadir last seen in 1982 with the S&P bottoming around 450"
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Yes, you can delay Earth's endgame scenario, says Laughlin. But nothing can change the Earth's trajectory on the new path of the sixth species extinction ... as long as China, India, Africa, Asia, the Americas and the rest of the world keep adding more babies, blowing up the population bubble from roughly 6 billion today to more than 9 billion by 2050. Remember, if all 6 billion Earth inhabitants used resources and generated as much waste as America today, we'd already need six Earths. With a 2050 population of 9 billion, it's "game over."
http://tinyurl.com/3y9242p


To all; more stimulus, more printing, more BULL! The Fed's beige book was released today with CNBC trying to spin the Fed's spin. Doesn't anyone see that we've borrowed and spent $ Trillions to get growth of merely $ Billions? Can no one see that without the 10+% of GDP that the Treasury has gone into deficit over the last several years the economy would be declining by this much? If we need to borrow $ Trillions to barely grow, aren't we in reality actually declining by $ Trillions? Can no one see that this is a no win game, at some point the ability to borrow will cease?
All I can say is "recovery my arse"! We are not experiencing a recovery, we only bottom bounced as a pause in the "Greatest Depression". I'm sorry but once we (are forced to) live within our means, the definition of an economic depression be displayed for all to see. Everything for the last 10-15 years has been smoke and mirrors fraud, we will soon see just how fraudulent. I learned at a very young age that when the tide goes out all the dead bodies are exposed. This is where we are headed.
The "tide" so to speak has already been going out for quite some time. Levered real estate deals across the board have been exposed, levered individuals, states and munis, and lastly the U.S. Treasury. Derivatives of all sorts will (have) be exposed for worthless as will "receipts" for many different commodities. At some point (I believe very soon) the lies will all come crashing down. The problem now is that the lies are a worldwide phenomenon that will touch virtually everyone who trades paper for goods. When it comes, it will be FAST!
When I say "it" I am talking about a total and complete break of confidence in EVERYTHING we have learned and become accustomed to in the way of values. Isn't it funny that for virtually all of lives we have been "taught" that Gold and Silver have no value? It will not be so funny once confidence breaks that Gold and Silver will become the "ultimate values" because virtually no one owns any! And those who do (or think they do), only 1 in 100 REALLY do! This is not even close to a bubble, it is closer to a "negative black hole of anti matter" as underowned as they are!
I have said MANY times that putting a Dollar figure on Gold or Silver is a ridiculous task. I say ridiculous because the Dollar is not and has not been a stable measure of value nor has it's supply been stable. One can say "Gold will trade at $3,000 per ounce", this may or may not be the correct number but you must remember that this figure is in TODAY's Dollars. Once we enter into hyperinflation, all Dollar figures will depend on how many are "printed". For example, $100 Billion 5 years from now very well may have purchasing power of $3,000 today! No one knows, no one CAN know. It is for this reason that you DON'T trade your Gold related assets because what might look like a top today could certainly be (in Dollar terms) merely pennies!
It is very very important to understand this concept, your financial life will depend on it. It would be very wise NOW to study a few hours on past hyperinflations so you have a "plan" or at least know what to expect. Once hyperinflation starts, it will not stop and it will be too late to learn how to weather the storm. Hyperinflation's in the past have burned like wild fires in 50 mile per hour winds, today we live in a computer age where transactions can be done at exponentially faster rates of speed. In other words, what might have taken 6 months or several years to destroy a currency in the past could now happen in a month, a week, or even over night! Laugh if you want to, this is THE ONLY possible endgame because governments worldwide cannot possibly pay back current debt in current scrip, they MUST and WILL devalue. Don't be one of those who gets "devalued"!
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