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QE2 The Last Gasp of a Monetary System: A Message to the World
Youtube ^ | November 7, 2010 | visionvictory

Posted on 11/07/2010 8:02:46 PM PST by Tolerance Sucks Rocks

http://www.youtube.com/watch?v=po6HhQ1ZRxE&feature=player_embedded

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TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: benbernanke; collapse; currency; dollar; easing; economiccollapse; economy; fed; federalreserve; fiatcurrency; gold; hyperinflation; inflation; monetization; monetizingthedebt; qe2; quantitative; tax; treasuries
Some associated articles are listed on the Youtube page.
1 posted on 11/07/2010 8:02:52 PM PST by Tolerance Sucks Rocks
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To: Tolerance Sucks Rocks

The US is bankrupt. It cannot repay its debts. When that becomes clear, and the public moves from denial to anger, they will seek any justification or excuse to disavow the debt. Such will not be hard to find:

Most Federal spending since the 1930s has been Unconstitutional. Progressive (non-uniform) tax rates are Unconstitutional. Fiat money is Unconstitutional—the Constitution forbids anything other than gold and silver coins being used as “Tender in Payment of Debt.”

So the US could simply revert to the Gold standard, issue a new gold-backed currency, repay its bond holders using the old currency (which the government disavowed as redeemable for gold or anything else back in 1972,) and inform any who object to that it’s their own fault for lending money to an illegitimate government borrowing and spending in violation of its own Constitution, using a currency prohibited as being used as legal tender by that same Constitution.

It won’t be long before this end-game becomes obvious to everyone. It’s the only way out. When that happens, the bond market will stop lending any funds whatsoever to the US government, and progressive socialism will die.


2 posted on 11/07/2010 8:11:38 PM PST by sourcery (Poor Nancy: From Speaker OF the House to...Speaker UNDER the House)
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To: Tolerance Sucks Rocks

Sidn’t the other QE2 once run aground ?


3 posted on 11/07/2010 8:14:38 PM PST by mosesdapoet ("To punish a province Let it be ruled by a professor " Frederick The Great paraphrased)
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To: Tolerance Sucks Rocks

What will QE3 bring?


4 posted on 11/07/2010 8:14:52 PM PST by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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To: TomasUSMC
"What will QE3 bring?"

An international lynch mob!
5 posted on 11/07/2010 8:16:37 PM PST by JoSixChip (A nation of sheep will be led by pigs!)
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To: Tolerance Sucks Rocks

Bubble, Crash, Bubble, Crash, Bubble...

http://www.hussmanfunds.com/wmc/wmc101108.htm

P.Galt posted this in another thread quite interesting

http://www.secretofoz.com/


6 posted on 11/07/2010 8:16:51 PM PST by FromLori (FromLori)
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To: Tolerance Sucks Rocks

This guy scares the bejesus out of me. From what I read other places, what he says rings true. Whether you listen to Peter Schiff and the Austrians or some of the Chinese economists, the real question is “when” not “if”. That’s the scary part because while we may acknowledge this stuff intellectually, we go on acting like it’s 1980 again.

So, what should we do? There’s not enough gold in the world for even a small fraction of “us” to dump our stock portfolios or whatever and hold only gold. If we’re screwed, then we’re pretty much ALL screwed, as I see it.

What’s this guy got wrong? And if he’s right, what do we do about it NOW?


7 posted on 11/07/2010 8:20:05 PM PST by bigbob
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To: sourcery

From your lips to God’s ears.


8 posted on 11/07/2010 8:20:22 PM PST by hampdenkid
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To: 3D-JOY; abner; Abundy; AGreatPer; Albion Wilde; AliVeritas; alisasny; ALlRightAllTheTime; ...

PING!


9 posted on 11/07/2010 8:42:54 PM PST by Tolerance Sucks Rocks (Muslims are not the problem, the rest of the world is! /s)
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To: TomasUSMC
What will QE3 bring?

$10,000 for a six-pack of beer?

10 posted on 11/07/2010 8:46:09 PM PST by Tolerance Sucks Rocks (Muslims are not the problem, the rest of the world is! /s)
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To: bigbob

Well, we’ve all got money in our Monopoly sets. And maybe the folks in India and Indonesia will give us a dime.


11 posted on 11/07/2010 8:46:21 PM PST by rovenstinez
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To: bigbob
Great Questions!!!...
Now i have to ask...do u own ANY gold and silver...or are u gonna wait till the insurance company says u missed the payment date?

But luckily...our sister company can insure u now...It will just cost a lil more.... Do u want to go without insurance AGAIN??????

12 posted on 11/07/2010 9:00:39 PM PST by M-cubed
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To: Tolerance Sucks Rocks
or a thin silver dime...its all about perceived value in a time of crisis
13 posted on 11/07/2010 9:02:13 PM PST by M-cubed
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To: bigbob

You should be scared...

Now that you are awake to the problem maybe you should start to prepare in order to take care of your family...


14 posted on 11/07/2010 9:07:21 PM PST by phockthis
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To: Tolerance Sucks Rocks

15 posted on 11/07/2010 9:08:31 PM PST by Lancey Howard
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To: sourcery
The US is bankrupt. It cannot repay its debts.

Maybe we could sell California to the Chinese?

16 posted on 11/07/2010 9:11:00 PM PST by Lancey Howard
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To: M-cubed

Yes, a dime. Pre-1964. Near-100-percent silver...


17 posted on 11/07/2010 9:42:29 PM PST by Tolerance Sucks Rocks (Muslims are not the problem, the rest of the world is! /s)
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To: Lancey Howard

Kalifornians would actually have more liberty under such an arrangement...


18 posted on 11/07/2010 9:43:31 PM PST by Tolerance Sucks Rocks (Muslims are not the problem, the rest of the world is! /s)
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To: Tolerance Sucks Rocks

Closer to 70% silver, actually.


19 posted on 11/08/2010 2:25:35 AM PST by prolusion
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To: bigbob
So, what should we do? There’s not enough gold in the world for even a small fraction of “us” to dump our stock portfolios or whatever and hold only gold. If we’re screwed, then we’re pretty much ALL screwed, as I see it.

Get clear before the gold runs out?

Personal insight. My great-grandfather had a fat portfolio in 1929. Thought himself rich. Lived very, very rich. Bought lots of nice cars, houses, diamonds. One day he discovered his wealth was mostly abstract and had vanished. Try to put yourself in his shoes. One day the accountant says you're worth fifteen million. Next day the accountant says you're worth about ten grand and it's a good thing you still got that pumpkin farm.

I should add that thanks to great-grandma, we still have a lot of those diamonds. Not sure he ever knew...the details are lost to history. I like to think they hung onto the gems in case people ever stopped eating pumpkins. Point is, if you've got a portfolio, beware: it may be written with vanishing ink. Diamonds and pumpkins is the way to go.

20 posted on 11/08/2010 5:54:30 AM PST by 668 - Neighbor of the Beast (Save the liver!)
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To: sourcery

The US is bankrupt. It cannot repay its debts. When that becomes clear, and the public moves from denial to anger, they will seek any justification or excuse to disavow the debt. Such will not be hard to find:

Most Federal spending since the 1930s has been Unconstitutional. Progressive (non-uniform) tax rates are Unconstitutional. Fiat money is Unconstitutional—the Constitution forbids anything other than gold and silver coins being used as “Tender in Payment of Debt.”

So the US could simply revert to the Gold standard, issue a new gold-backed currency, repay its bond holders using the old currency (which the government disavowed as redeemable for gold or anything else back in 1972,) and inform any who object to that it’s their own fault for lending money to an illegitimate government borrowing and spending in violation of its own Constitution, using a currency prohibited as being used as legal tender by that same Constitution.

It won’t be long before this end-game becomes obvious to everyone. It’s the only way out. When that happens, the bond market will stop lending any funds whatsoever to the US government, and progressive socialism will die.

*************************************************************************************************

That’s the good news.

The bad news is that “progressive socialism” will not die quietly.


21 posted on 11/08/2010 6:03:51 AM PST by headsonpikes (Genocide is the highest sacrament of socialism - "Who-whom?")
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To: Tolerance Sucks Rocks

Just finished watching the videos. I already knew that things are bad, but actually watching it is very frightening. I really wish that I could buy gold and silver, but I cannot afford it right now.

I am telling my family members to diversify their portfolios and put some of their investments into gold and silver.


22 posted on 11/08/2010 6:16:26 AM PST by waxer1 ("The Bible is the rock on which our republic rests." -Andrew Jackson)
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To: bigbob

Then Gold will appreciate until the ratio is restored.


23 posted on 11/08/2010 6:36:57 AM PST by BenKenobi
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