Posted on 12/22/2008 7:56:14 PM PST by Lorianne
video
(Excerpt) Read more at youtube.com ...
This globalist swine has no allegiance to his own country; I’d rather spend a depression in the USA than in any stinking Asian hell hole.
The fact of the matter is that the currency is being rapidly debased. Bernanke/Paulson are creating trillions of dollars out of think air. And bailing out everyone in the process. We are rapidly becoming a socialist nation, where the means of production are owned entirely by the government. The only consolation if there is one, is that we screwing the entire world in the process. I would love to see the look on the Chicom’s faces when they bring their t-bills to the Fed and try to cash them in and then they are paid in worthless dollars. And then they bring their euros to Germany and try to cash them in and are given worthless dollars.
There will be a complete repudiation of all debt in this country, otherwise known as a super jubilee. The only thing worth being invested in is precious metals. But no doubt, Obama will try to pull an FDR and confiscate all. But now is different than 1934.
Don’t believe what I am saying at your own peril.
Don’t believe what I am saying at your own peril.Show me where you predicted what's happening now a year or two ago then maybe I'll worry.
Jim Rogers is a pessimist, always has been. He is a co-investor with George Soros, and both are heavily invested in hedge funds that only make money when the economy tanks.
I would add that Jim Rogers seems to view himself as a citizen of the nation of personal wealth, not of America. He could care less whether America does well or ill just as long as his personal wealth continues to grow.
Get outta town, Jim Rogers.
Then, it's perfectly acceptable for me to tell him to get outta town since I live on the same continent. ;-)
That's how I see it.
bttt
I can’t help but agree with your assessment, Appeal. I have some cash that I’ve been hording for an emergency. Should I convert this to gold? Thanks.
Do it immediately. I have no idea when it will happen, only that it will. I think it will actually be precipitated by the collapse of the euro. While I always thought US banks were the most creative and inventive when it came to losing money, ie subprime mortgages, cdo’s, cmo’s, credit default swaps, etc, the european banks have outdone us. They have loaned trillions of dollars to developing third world countries in Africa, South America and Asia. Rather than taking a few years to tank like here in the states, their debt could all become worthless in a matter of weeks. Then look for a bump up for the dollar and then the realization that fiat money is a its heart worthless. That will be the end. I don’t believe that any country will ever trust paper money again. But that’s my opinion.
Thanks. Willco and Merry Christmas!
Dude, I predicted this thirty years ago. The only thing that stopped it from happening then was Paul Volker and interest rates of 20% or more. This temporarily killed inflation and introduced a measure of price stability. I predicted the real estate collapse in February of 2006. Know why, I was in Las Vegas and there was a on the back of every taxi in town, “Own a 3 bedroom-2bath town house, only 693 per month. No money down! I have been a credit pro since the 1980’s. I have studied previous inflationary and deflationary depressions in exhaustive detail. When you can buy a house, car, vacation, etc., on credit, there’s a problem. When the industrial base of our country declines where we no longer produce, but only consume, there’s a problem. When the Chicoms are holding 2 trillion of our debt and shaking their heads at how they go there, there’s a problem. When there are more malls in the country than factories, there’s a problem. When twenty percent of our economy is a bunch of idiots on Wall Street who think they’ve discovered how to eliminate the business cycle, there’s a problem. When our population can’t tell the difference between debt and equity, there’s a problem.
Enough said, please explain to me why you believe that world will keep on accepting dollars as a measure of value. Cause I can’t figure it out.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.