Posted on 09/12/2011 3:13:29 AM PDT by OneLoyalAmerican
Gold bug ping
“Our economic system and quite-possibly our government is finished if we allow this to occur.”
Ok, premise accepted. We’re screwed. So...what to do?
I get the point. I’ve gotten the point. I’m getting tired of people telling me the point. Let’s move on to doing something about it, eh?
Can’t speak for the author, but my impression is that what we can do is, endure, as best we can. The mathematics aren’t something we can do much about at this point. Prepare. Try to be wise, and frugal. Don’t go into debt, whatever you do end up doing. And pray. For the country, the world, your friends, both here and in the real world, and your family.
An addendum, courtesy of John Galt:
http://johngaltfla.com/wordpress/2011/09/12/crash-alert-could-be-my-friends-well-see/
I have found this website to be a very useful source of information on the economy, gold, and silver.
http://goldismoney.info/forums/
Got it. You’ve posted that same text 50 times, I think that is sufficient.
Denninger is getting to be a bit over-the-top.
I think he believed he’d be a political leader or at least that world leaders would be calling him for consultation at this point in his blogger’s career.
He is taking himself way too seriously these days and finds fault in everyone but himself.
He is not the first and certainly will not be the last to make his economic predictions from the Austrian school of economics. Our prosperity and our entire financial system is based upon debt, which must collapse eventually. Mel Tappan was making this claim at the end of the 70’s. The viewpoint is correct, in my humble opinion, and the system must collapse eventually. “When” is anyone’s guess. Who could have believed they could keep printing/borrowing-and-spending for so long. It could be that they could continue this charade until they are talking about tens-of-trillions in stimulus and quadrillions of national debt. Who knows.
Regardless if he is correct regarding his timing, check the tag line that I’ve had for a long time now.
If you need some basic details, freepmail me or google any of the older survivalist forums.
If all this really happens...the politicians and bankers had better hope for for a rope shortage....
Yes, according to common sense and every logical analysis of human behavior, the system must eventually collapse. Here’s why it hasn’t yet ...
As long as the public believes the greenback has value, it actually does. Gold is valuable because people believe in it. At one time, spices had value as a currency.
The general public doesn’t understand what economists “understand” about why and how gold holds its value. If things got bad enough, flour would be more valuable than gold because one cannot eat gold and one can buy flour with gold only if the people who have the flour believe gold has value.
The public decides what has value and what doesn’t.
It does not look good. The Euro traded as low as 135 to the dollar this morning.
Not that many days ago the Euro was at 145 to the dollar.
You are right about Denninger.
Two things that I find particularly annoying. First, he goes out of his way to fault the Tea Party and Republicans. He fails to recognize that the Democrats, and a subset of the Republican party, are exclusively to blame for our current predicament. It wouldn’t fit into his “I am the only smart person in the universe” theme.
The second is that he fails to understand how moral decay forms the basis for our inability to solve these problems.
Having said that, however, he is quite right that we have gone off the cliff. But, as you say, there are many others out there who realize this.
Fellow gold enthusiasts: I recently saw an article posted on FR claiming that the $600 IRS reporting requirement (in obamacare) for vendor sales was going to be in effect on 1/1/12. I thought it had been repealed. Which is it?
“Ok, premise accepted. We’re screwed. So...what to do?”
That’s not his point. For example, I go after Rick Perry because I HATE HIM (having lived under him for a decade), not because I love Sarah or Michelle or Herman, as I don’t (I do love DeMint...but he’s not running).
...anyway, if I name someone else in my anti-Perry rants, then I’m just considered a Palin-fanatic (for example) and not credible on Perry. Likewise this guy is saying we’re screwed and he figures that people that understand what he’s saying (as in myself) already know what’s necessary (i.e., gold, safe currencies, prepping, etc...) as the outcome is always the same. But he wants to keep the focus of his article on why we’re crashing...as that seems to be the hardest point to get across. But the results are always the same (i.e., Argentina, Russia, etc.) and the correct ways to prepare for it is always the same...and well documented (including on this site).
Unless of course, it was never the intent to 'solve' the crisis in the first place. Nothing else makes sense.
Imagine that you've had a near-fatal heart attack. You hit the emergency room and the first thing the doctor does is to open the veins on your wrists. That's the essence of what's being done to our economy. "To what end?" you might say. The answer is that our erstwhile masters would rather rule in hell than to leave us alone to live our lives.
No clue, but that’s the first time I’ve seen that link (my browser got rejected, I’ll have to watch it at home)
It's like a game of musical chairs. Except this time, when the music stops, everyone suddenly realizes that all the chairs have been stolen. After that...
“Denninger is getting to be a bit over-the-top.”
He sees a person making $50,000 a year (with no hope of increasing), living in a $300,000 house, with another $150,000 short term loan due in the next year or two - and the guy has also promised his parents $2,000,000 over the course of their retirement, for expenses, including all medical expenses...and he see’s this country becoming Third World because of it.
He’s simply done the math. Anyone in his area can do the math...it MUST end this way. He tries to tell the right people, but they ignore him - and in a way they have to, because the populace won’t believe how bad things are anyway.
So he’s a bit upset...so would I be (and I am).
Well, yes. And, for a long time too.
On the other hand, how does the number of those who have said such things compare with the number of those who (1) hear, and having heard (2) concur?
This is a lot of the reason why folks like Denniger become so strident. Can you imagine how Enoch sounded by the end of his near-millennium-long preaching career on the coming Flood? LOL
No one's known how long it'll take for these fiat currency schemes to implode. It sure looks like it'll be sooner rather than later. Perhaps Greece gives us a bit of sense for how to interpret the end-game for the rest of the Western fiat currency regimes. If so, then we don't have much time left -- a few years at the outside.
Meanwhile, "what to do?" has also been clear from the beginning:
1. Protect whatever wealth you do have by putting it mostly into some commodity or tangible resource, and,
2. Lay aside some form of provisions to tide you over the most extreme economic reprocussions of an economic crash.
My own sense is that the latter provision does not need to be for more than a few weeks at the outside. A totalitarian regime will quickly fill any vacuum an economic collapse creates (history shows this emphatically!), so it won't be long before the new strongmen (or, horrors, strongwomen!) will have the trains running on time again.
I’m aware of prepping etc., having been raised that way. (Dad’s valid response to the then-looming Y2K disaster: “I’ll throw another log on the fire and go back to my book.”)
I was just whining that the whole Chicken Little thing is getting kinda tiresome. Yes, Little, the sky is falling - can we move on to the next obvious topic already?
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