Your fucked, I bet you have a bomb shelter to, and people the only debt you should be carrying is house debt and maybe a car. If you cant live off of what you make get a better job
I wish there was a timeline to all this. Luckily I just found out about this this last summer and still am able to prepare. It will probably be happening in 2012
And what happens when the Fed makes it illegal to own gold and silver? The bastards did it before - thank you FDR, you commie rat. The only things people need to be investing in aren't gold and silver but lead.
How could this guy have worked for Geithner for 20 years old? Since Geithner was 27 years old (he is now 47)? Geithner was in college. This guy worked for Geithner while he was in college? HUM!
So basically this is a story from a guy (we dont know his name) who worked for the fed (and we dont know the guys name who worked for the fed), who claims this is what he heard. (we dont know if he misunderstood or what ever)
You would be a fool to put any weight in this story.
Go-Go- MagicBama!! Brainwashed public makes me sick. See ya this summer in Hyper-Inflation City, U.S.S.A. You voted for more of the same and worse if you voted Obama... hopeless cattle looking for handouts will run America into the dirt.
LAND, Land, land. This is my concern. I'm worried that "they" might do something to punish or milk real property owners like is mentioned in this video. Does anyone have any leads on this topic? I have been searching for some but don't come up with anything.
The world will not accept this currency that you suggest. The USA is losing its good reputation and place in the world environment and will continue to do so as this recession hits world wide. The world community is not going to stand for such instability which is being caused by american greed and corruption. As the US cuts military, and problems happen at home, there will be world wide realignment in power and trust. Its a different age
If 'money' was 'backed' by goods & services already provided (i.e. by capital not by debt).. then they couldn't just print the stuff out of thin air.. which.. when its being done on such a large corrupt scale.. is just plain wrong!
I don't know how anyone would believe that Canadians would switch to an Amero? Peter Schiff predicted that Canada will be hurt by an American collapse due to trade loss. He went on to say that our dollar would be worth a lot more than the US dollar once we start trading with other countries to diversify. Why would Canada, with tons of resources and a sound dollar want to link ourselves to the worthless Peso and the soon to be worthless US dollar. It makes no sense economically.
I agree with you 100% Why would we? But i think our politicians have sold us out a few years ago.They might make the situation in Canada so harsh that we would say YES we need the amero,but try telling that to proud Canadian like yourself .
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THIS VIDEO IS A LIE!!! ABSOLUTE LIE!!!!!!!! the obvious inaccuracies are that first of all, you have to be a born citizen to work at the fed. which the dentist's patient is NOT (he says he is from Albania). The guy says he had worked for Geithner close to twenty years, first of all geithner worked for the US treasury which is ineligible for non us born citizens.
Secondly, the guy said that he worked at the new york fed which does not hire us born citizens.
I don't know about this video, but YOUR information is wrong. I worked at the Fed until last year. You do NOT have to be a "born citizen" to work there. I worked with people born all over the world.
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)
o Israel spies on this country.
o Israel blackmails our corrupt politicians.
o Israel steals our taxes.
o Israel uses our country as their toilet.
For more info, click my UsedID then browse my informative Israel playlist.
Please distribute this post and tell your Senator and/or Representative about Israel's killing Americans, heinous crimes, stealing our taxes, and its spying on USA. Peace!
The USG may not inflate its way out of its debt. It may CONFISCATE its way out of its debt. That could be the backup plan. Crash the currency via hyperinflation and in the midst of it pay off a chunk of the debt. To pay off the rest, CONFISCATE GOLD, as held by fearful gold bugs.
Hording is already illegal via Bush 43 PresDirectives.
The USG will be cutting gold fillings out of the teeth of corpses coming out of the work camps.
Your debt is tied to your SS#. Have you heard of E-Verify? Brought to you by DHS, E-Verify is set up so employers can effectively ask DHS for permission to hire you. Voluntary for now.
Also to open a bank acct. you usually have to give your SS#. If after a bank holiday the banks are only operating using the new currency, your account will have already been converted, the old currency will be worthless, and your debt will be recalculated in the new currency.
Most horrible diseases begin with mild flu symptoms and then ramp up into something else entirely. So if the MSM, who cannot tell the Truth, starts telling everyone that all the sick people have flu, and if we're having grid blackouts at teh same time, maybe sewage backing up into some homes, maybe water outages, then nobody will know the difference.
Disease is the best shocker. Better than war. Better than economics. It weakens everyone, atomizes them, forces them into hiding. Get the point?
Yeah, well keep in mind that almost every illness begins with the same symptoms. All they have to do is create the illusion, the concept of Avian Flu outbreak and then they can hit us with whatever and we'll never know the difference. All we'll know is the hospitals are closed, everyone is dying, the military has taken over the grocery stores that aren't aflame, and the loudspeakers say STAY INDOORS. Plague, anthrax, and God knows what has been created in various labs all begin like the flu.
Interesting theory, the Amero birth sequence. But I don't think it will be such a conspirative cloak-and-dagger operation. They will even have a good explanation for everythin.
Anyway, pay off your debt NOW - if you still have any! (why wait for the signals of the government to pay off debt?), buy gold& silver, and put on some weight, too. Every single Kilo overweight that you have stored means 7000 kcal which will enable you to survive for 3 to 5 days (But watch your fitness!).
There won't be rioting in the streets if everyone is sick with flu.
Think about it.
Baxter shipped weapons-grade H5N1 Bird Flu in geriatric preventative flu shots to 18 countries.
Meanwhile, anybody remember the "hacked" power grid blackouts of last winter? Huh? Last Jan. and Feb.? MSM said CIA said those blackouts were hack jobs.
Your hospitals are on the verge of collapse as is.
Here's how they lock you in to your debt wise guy.
There's only so many physical dollars in circulation. Meanwhile most of the money in circulation is in data, bytes of info on bank spreadsheets.
The new currency will be mostly data as well. Your bank acct. is tied to your SS#. When the (remnants of) your bank acct. is converted to the new currency, so will your debt load. This will likely happen over a "bank holiday."
Esto es Castigo de Dios. Los Gringos han olvidado que son una sociedad que tiene lo que el resto del mundo carece. Han olvidado que los bienes que disfrutan son el producto del duro trabajo, el sufrimiento y sangre de millones de humanos a los cuales ellos han explotado , perseguido asesinado o deportado. De esta menera el mundo se siente un poco mas felices que llego la hora que los gringos seal igual que el resto del mundo. Gracias a Dios Todopoderoso. Amen.
i've been saying this forever. they will crash the dollar, wipe out the wealth, introduce the new currency, the FX rate will be terrible so the rich won't be spared, BUT they would repatriate the debt into the new currency to keep it static AFTER they destroy the wealth. honestly, all wealth will be destroyed somehow or another but they are leaving back doors for themselves. i do not believe gold is one of them. silver maybe. i think some select FXs will be spared. like yuan.
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)
o Israel spies on this country.
o Israel blackmails our corrupt politicians.
o Israel steals our taxes.
o Israel uses our country as their toilet.
For more info, click my UsedID then browse my informative Israel playlist.
Please distribute this post and tell your Senator and/or Representative about Israel's killing Americans, heinous crimes, stealing our taxes, and its spying on USA. Peace!
and then someone has the power to turn off your credit when they deem you as a potential risk, have differing views from the fed? No currency is not the way to go, dont misinterpret the cons of it.
george they might even let all the personal debt go free, but under 1 option start a new currency, this has happend in greece around the end of the 1960's but greece a small country compared to usa
thanks george! the elite is definitely accerelating their set up of their NWO system. They will have some new currency forms...perhaps the Amero and a stronger Euro. and be backed with gold,silver and other resources. And these tangible assets will have a lot of value as well.
However, they will be heading towards a digital currency and the eventual mark of the beast. Backed and enforced by gold, silver, other assets as well as militarily, politcally and socially. Revelation 13:15-18
@getalotofit your opinion is noted, however I would rather hedge my bets and be wrong than not an be 100% correct. Do what you want but there is always safety in hard assets. If you are looking to make money that's a different discussion for a different economic time.
That's the thing I read what happened in Germany. People who had debt could easily pay off the thousands of debt they owed because the debt doesn't adjust to the market, if you owe 3000$, it's 3000$ whether you're getting paid 10.00/hr or after inflation you're getting paid 10,000/hr (even though it's worth less than the original 10.00), so you could easily pay off your 3,000$ debt in less than an hour. The only "benefit" other than buying up poor peoples land and shit.
The problem is they have already spent 4.5 TRILLION in 6 months wiht more to come. Now that's idiotic, now you can go back to praying to your idol Obama. Idiot
The inflation in Zimbabwe was so bad, and the money they printed had so many zeros that the ATM machines couldn't handle it. The machines were never programmed to handle billion and trillion dollar transactions.
The bailout is $9.5 trillion. You already have $13 trillion in public debt, plus another $15 trillion in private debt. Then you have an additional $30+ trillion in commitments for medicare and medicade because the babyboomers are retiring.
Combine that with the fact that you have almost no manufacturing base or production in your country, and the auto industry is using the their bailout money to move what's left offshore to secure their corporate interests.
I fail to understand the attitudes being shown here, what would you rather have one 1$ note in your pocket, or a 'MASSIVE WAD' of 1000.000 ZILLION $'s, My GOD, the chicks will just flock around YOU, when they know you have all that CASH.
You will be able to pick the most GORGEOUS one, and take her for a very small 'ICE CREAM' with the 100.000 ZILLION $'s.
PRICE-LESS.
By laughing at the ridiculous situation we are currently facing, I find it makes it easier to bear.
Hi George. In the early 1990's our ship would port in Santos near Sao Paulo, Brasil. There it was 40% inflation per month with the Cruzeiro. So the only way to use your money was to buy things immediately after getting your salary. Prices would rise every few days. Yes your account would ride the inflation wave in the banks,but now banks can't be trusted. Zimbabwe is the extreme and Brasil in the 1990's was mild in comparison. What do you think the monthly inflation rate in the US will soon be?
Saw on CNN where MD will have rolling blackouts due to large % behind on electricity bills. Cities delaying some in light of winter :-)GM says continuing "substantially doubtful". Gov't adding jobs!
FL store SaveRite have wkly sales. Last wk, any purchase with coupon get 12pk Winn-Dixie drinks. Pork Ribs .98 cents lb.This wk, any purchase, dozen eggs free.Countless in store daily popup bargains.
Tuna cans now at 5oz, not 6 in FL, same price or higher. A subsidiary of CSX in FL sent all employees home for 6 wks. 2 wks vacation, 4 unempl ins. @ ~$308 per wk. Most earn >$22 per hr. Saving $4Mill
Detroit Free Press (yes, their still in business) reports the school district will probably layoff all teachers & admin and only call them back in June 09 on an as needed basis. An economic tsunami?
Gold and silver have inherent value, unlike paper currency, because of their rarity and other useful qualities. So that would only happen if someone flooded the market with either one.
I'm in Colorado, over the past couple months our cost of food has dropped rapidly. Some would say they're trying to drive small farmers out of business, could be. But it sure is a lot easier to stock up when its cheap!!
drive small farmers out of business? Maybe you have not heard about the mass sell off of family farms across the Mid West over the past 25 years?
This has already happened. Ag prices spiked last year in the commodity run up, they are now back to historical norms.
You are correct tho, prices on food items have dropped in the past few months. Compare a simple basket of foods in May 08 to March 09..big difference. Deflation.
I don't agree with your last statement. I see boxes and bags getting smaller, while prices get higher at our local grocer. What you read in the news and see around you are two different.
Sorry but this is BS. Zimbabwe style hyperinflation isnt gonna happen in the US or most other western nations. Credit is created through financial institutions in the US not the government like Zimbabwe.
tiawaddauthink, no, you would use your gold and silver to buy what ever currency we will have at the time. You are not going to use gold and silver to cover your expenses or goto a grocery store,rather, thats for the new currency. The Gold and Silver that you have saved up will be for the EXCHANGE for that currency so that you are protected against poverty. View Gold and silver as a insurance policy for your money rather then an investment.
Being that there are so many European viewers on YouTube, tell me, how did say the Deutsche Mark translate to Euro's where debt was concerned? Would a new currency ward off hyperinflation? Is a currency change a better alternative?
I'm in a position where I handle great sums of circulated money. I buy out all silver, wheaties, silver/gold certificate bills etc, anything I deem worth more than face value. Normally, I sell these on eBay. Would I be better served to save them instead?
I'm in debt right now, I'll wait for hyper inflation to hit, then pay off my debts using the inflated money. But George is right, if the Gov introduce a new currency, they try to tie you with the debt.
Going into debt at this point (even to buy tangible assets) in the hope that your debt will be wiped clean by hyperinflation is... pushing your luck. Play it safe.
All those people saying "oh stop devaluing the dollar" you don't realize that in a world of diminishing resources and every increasing people, the reserve currency is going to be inflated either you want it or not. Hyperinflation is going to happen either in USD or any other currency they choose to be the reserve, it is simply unavoidable. Its a matter of time and "growth"
The Collapse was inevitable. Americans should be grateful your government managed to keep you living the good life for song long. Now when there is a collapse, everyone will be in the same boat so you pricks get a second chance again.
I can imagine taking that 10 Trillion bill to a 7/11 and the clerk not knowing how to count zeros to make a trillion...and the dumbass gives me back an extra 100 Billion! Yeah baby!
Yes it real, its a African dollar. Zimbabwe Dollar to be exact. Can you imagine if you spent your life saving up saying a $50,000 (life savings) and then the money hyper inflates to $10 Trillion notes?! Your savings would be wiped out and thats the point where some rave on about gold, if you have wealth holding it all in fiat money is bad in times like this. Only gold or something tangible like that would hold its value and protect your savings.
Excellent video. Very well considered and formulated. Wake up people!
Terminate FederalReserve.
Terminate FederalReserveNotes.
Terminate FractionalReserveBanking.
Terminate every form of "fictional" leverage.
The states formed the federal government, and the time has come for the states to dissolve the federal government. Nothing less will work at this point, for the federal government has gone completely elitist, fascist, militant authoritarian, totalitarian criminals.
Yes, it's impractical to buy small items with gold coins or gold dust. What I'm waiting for is that window of opportunity (and it may not be a big one), when the old dollar has collapsed, and the "new dollar" or new world currency is being implemented, to sell off some gold to get out of debt. I don't care if I do it at a bank or in a dark alley!
I'm sure an underground barter economy will emerge, including trading gold for large amounts of the new currency.
The Dollar may hold some relative value down the road but I'm certain it will be printed on toilet (recycled) paper. The paper they use now will be unaffordable. Take them out of your pants before you put them in the washing machine !!!
I remember back before Sept, 08. USD near par with CAD. Then shot up 20 cents.. If you live in canada and bought like 10,000 USD before that then cashed it back after it went up. You wade 20 cents on every dollar. $2,000. . Welcome to making money while producing nothing. Forex..
What's the point?? Go see if things are getting better. Do the research. I can't buy a loaf of bread in my hometown with Euros. The price of the loaf of bread is not going to drop because the Euro is weaker everyday!! The more people are forced to earn less and pay more for everything is just going to rattle your cage in the long run. Better have a strong one at that. If you have a ton of money, you're going to see through my comment. I've been around, things are going to be worse soon.
It's only a deflationary trend because everybody is liquidating their assets and some schmucks think the US dollar is a safe haven, so it's on a rally against other currencies.
Nothing is certain but I doubt that will last very long.
It is prudent to hold silver and gold in these times but be aware
that any new currency that comes out especially the North American currency that may be in the works can and most likely will set an arbitrary price for gold and silver
that arbitrary price can be 200$ for gold oz and 5 $ silver oz
I hold silver and gold it is prudent to do so but wary.
The currency in Zimbabwe is now basically useless. Many stores will no longer accept it, and people are using 50,000 dollar bills to wrap up gold particles. Gold, by the way, is now the only legal tender that works in Zimbabwe. Many people now mine the entire day, in order to collect enough gold to feed themselves and their children. The old, the infirm and the orphaned children are left to die. It is a shocking case of human rights violations.
I don't think I'm buying this hyperinflation thing. Our debt is not even 100% of GDP. Countries which face hyperinflation usually have debt several hundred times their GDP. Also the FED is going to do everything it can to stop inflation including raising rates which could cause an adverse feedback loop like during the Great Depression, ie deflation. I don't know how bad it will be though...
Yeah, but "money supply" has different variations. Right now there is very little money velocity, ie no multiplier effect. In fact the FED is lowering its balance sheet as we speak.
"The Fed IN NO WAY is going to stop inflation"
I don't claim to have perfect knowledge, but they seemed to do a good job of it in the early 1980s. In the end these numbers seem big, but as percentage of GDP it really isn't. A deflationary spiral is still a very large concern in my opinion.
ebaum you are correct. The hyperinflation junkies do not understand the actions the FED will take if their treasuries are compromised. However, deflation will be much worse that inflation on this country in the coming depression.
Most dont understand that the world is lost, more so than the US. Safe havens? The Frank? nope... The Yen? Japan is sinking. The US will be proven to the the safe haven, As much as you would like it to fail, it inst going to..
"I don't think I'm buying this hyperinflation thing"
It isn't just Treasury debt that will be paid through the inflation tax; it is also consumer and corporate and mortgage debt which has overburdened our productive capacity.
They are not repudiating any debt except what they allow through bankruptcy. The bailouts and deficit spending are a sly form of debt repudiation via inflation. They simply must have enough money to service these and future debts whether or not production catches up.
It is not understood that all the money in the world cannot soak up all the 10's of trillions of dollars destroyed to deleveraging in the next few years.
This is not the "tide" before the storm. This is the storm, welcome to the deflation. You will be praying for inflation in a few years, deflation will be a much harsher death blow.
You need to explain exactly what you mean by "tens of trillions of dollars destroyed." The bailouts are money creation, not destruction. Where are they allowing debts to be discharged except in low level bankruptcies? They are re-inflating all else, aren't they? Isn't that their plan?
"deflation will be a much harsher death blow."
It may be a harsh blow, but it is the natural correction for the inflation bubble. The Fed won't allow it though. They are 100% sold on inflation.
"The Fed won't allow it though. They are 100% sold on inflation. "
This couldn't be further from the truth. If you believe that the FED will just sit back and watch their treasuries be destroyed, you are badly mistaken....badly. They will raise interest rates.
Well, the Fed has a great track record, don't they? And the US gov't too, right?
They always know how to do the right thing at the right time because they are the central planners of the economy and they protect us, right?
I don't know why anyone would put any faith in these criminals. They're destroying the currency and the economy and our freedom, and people still treat them like demi-gods who know all and see all and who can push a button and make everything better. I don't buy it.
When it comes to monetary policy, the FED is has a very predictable record. It is cut interest rates to keep the economy moving through slow downs and raise interest rates to control inflation.
You still don't get it. I'm not supporting them. I'm just telling you how it is.
If your inflation ever does come back, they have two choices:
1) Sit back and watch their treasures collapse.
2) Raise interest rates to kill inflation. They have advocated doing this again as they did in 81'.
I'm not saying you support them. I'm saying you have confidence that they will 1) do "the right thing" at the right time, and 2) that it will work and be some sort of solution.
It's not a solution, is it? First, what does it do to the economy when the whole system runs on credit? How can there be enough productivity to service and pay down existing debt if credit is curtailed due to inflation? How do you know people will still want Treasuries? What if China and others dump them?
Can someone explain to me why buying Gold/Silver would be better than buying Euros or some other reliable world currency?
Gold and Silver are completely impractical as a means of exchange. The dollar may collapse, but a dollar collapse wouldn't cause other currencies to collapse as far as I know.
lol, go read your constitution, you obviously have no grasp on reality of the matter and how the FEDERAL Reserve system works. Have you looked at your money lately? Does it even say US dollar on it? lmaooo
All currencies OF THE WORLD, are pegged to the USD.
if the USD fails other currencies may appreciate in the short term.
What do you think will happen after that?
New money is coming and the writting has been on the walls for a long time.
Here is just one thought. The USD is the worlds reserve currency - meaning it's the accepted form of payment between individuals, corporations, etc from different nations. If the reserve currency fails, and by definition, no one wants it then world trade takes a further blow which would in turn severely damage many economies causing political and social unrest. Fiat money is backed by something... the people's faith in their government. Lack of this means fiats fail.
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Aghhh, I'm surrounded by Pauliacs...
can't.....breathe....
You guy's keep waiting until the world deals in fkin gold. Yeh, i'm gonna go to the grocery store and purchase my groceries with little gold specs.
Cash is and will always be the way goods are exchanged. Just because one currency collapses doesn't mean they all do. [ I don't think Zimbabwe's currency mess has effected us yet ]
Wow. That's quite an attitude considering the fact that this system has already failed worldwide - or hadn't you noticed that?
Do you understand that without constant intervention, manipulation, control, edicts, seizures, bankruptcies, re-structuring, guarantees, bailouts, bond selling, tax collecting, promises and lies, etc., that the whole system would have been history months ago?
Is this your idea of a stable, just, moral system?
"Is this your idea of a stable, just, moral system?"
"so do you think this shit is getting better"
You guys should really read up on the actual reasons we are having a financial crisis. There are many reasons, and us having fiat currency isn't one of them.
"You guys should really read up on the actual reasons we are having a financial crisis. There are many reasons, and us having fiat currency isn't one of them."
Wow! Pray, tell! What are the "actual reasons" we are having a financial crisis???
All cash is (or is suppose to be) is a receipt for an amount of gold. Gold as of today is used as a primary reserve of wealth. It doesn't mean we actually use it to buy goods.
Cash is not a receipt for gold or anything. It used to be, if you examine old bank notes, they said pay on the bearer on demand gold or silver. Now it just says its legal tender and if you have some of those old Notes, the promise to pay back the gold or silver is now void. if you lived back then and saved all your wealth in those receipts you probably would feel pretty scammed.
Cash will always be necessary and is actually in a bull bubble right now....you will cash you etfs or sell your gold and use the cash for your expenses
When they bring (not if) the new Currency it will be the North American dollar and this is so that all international debts can die off with the old money
Gold and silver is no safe haven it can be confiscated and it can be tied to a new currency effectively reducing the Gold and silver holdings of all the people that bought into gold and silver.
I am the only one saying this but I know a lot ...
The value of PM's would need to increase dramatically to make even a small dent our debt - I dont think its worth the goverment's time to pull an FDR. Also - think about the kind of people who own physical gold and silver. I doubt many of them would turn anything over to the government. I wont.
Wages will fall and fall and fall over the next few years. Unemployment will continue to rise. When Interest rates are raised, and they surely will be, mortgage and CC rates will follow. This is deflationary.
There will be a threat of inflationary expectations in the next decade. Once the Feds portfolio is compromised, they will not hesitate to raise interest rates.
Look at the early 80's for an example. Volcker!
You will wish for inflation when hyperdeflation has ravaged this nation.
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ashlandkiss 3 weeks ago
Your fucked, I bet you have a bomb shelter to, and people the only debt you should be carrying is house debt and maybe a car. If you cant live off of what you make get a better job
Br21277 2 months ago
I wish there was a timeline to all this. Luckily I just found out about this this last summer and still am able to prepare. It will probably be happening in 2012
tommy35ss 2 months ago
very good.WAKE UP PEOPLE!!!!!!!!!!!!!!!!
1969calvert 1 year ago
And what happens when the Fed makes it illegal to own gold and silver? The bastards did it before - thank you FDR, you commie rat. The only things people need to be investing in aren't gold and silver but lead.
Carandini 1 year ago
abolish the FED put the cooks in jail where they belong.
anthonyAJR 2 years ago 4
I have an idea for you guys.. Don't get into debt... How the fuck did i get from Halo Montages To Inflation?
IMT00CLAN 2 years ago
It's a given we are going to have inflation. Not rocket science.
moissanitestar 2 years ago 6
Comment removed
SwiftLikeOne 2 years ago
How could this guy have worked for Geithner for 20 years old? Since Geithner was 27 years old (he is now 47)? Geithner was in college. This guy worked for Geithner while he was in college? HUM!
moissanitestar 2 years ago
So basically this is a story from a guy (we dont know his name) who worked for the fed (and we dont know the guys name who worked for the fed), who claims this is what he heard. (we dont know if he misunderstood or what ever)
You would be a fool to put any weight in this story.
ghpink 2 years ago
Go-Go- MagicBama!! Brainwashed public makes me sick. See ya this summer in Hyper-Inflation City, U.S.S.A. You voted for more of the same and worse if you voted Obama... hopeless cattle looking for handouts will run America into the dirt.
heatMOORE 2 years ago 3
very interesting that about albania
panleh75 2 years ago
LAND, Land, land. This is my concern. I'm worried that "they" might do something to punish or milk real property owners like is mentioned in this video. Does anyone have any leads on this topic? I have been searching for some but don't come up with anything.
jc7622 2 years ago
Its easy folks... gold just needs to go up to $15,000 or higher.
At $15,000 an oz it means 1 gram costs $500... which means 1carat of gold (1/5th of a gram) would be worth $100...
At that price.. they could embed a 24k gold leaf strip in the bank notes & suddenly we'd ALL know what the 'value' of money is...
Oddly enough it would need to be a global agreement & it would need to be the ONLY currency in the game (bit like the petro-dollar is now)
;-)
ejbh3160 2 years ago
Look in to the Petro dollar recycle.
The world will not accept this currency that you suggest. The USA is losing its good reputation and place in the world environment and will continue to do so as this recession hits world wide. The world community is not going to stand for such instability which is being caused by american greed and corruption. As the US cuts military, and problems happen at home, there will be world wide realignment in power and trust. Its a different age
ghpink 2 years ago
indeed.. I was being tongue in cheek.
If 'money' was 'backed' by goods & services already provided (i.e. by capital not by debt).. then they couldn't just print the stuff out of thin air.. which.. when its being done on such a large corrupt scale.. is just plain wrong!
ejbh3160 2 years ago
I don't know how anyone would believe that Canadians would switch to an Amero? Peter Schiff predicted that Canada will be hurt by an American collapse due to trade loss. He went on to say that our dollar would be worth a lot more than the US dollar once we start trading with other countries to diversify. Why would Canada, with tons of resources and a sound dollar want to link ourselves to the worthless Peso and the soon to be worthless US dollar. It makes no sense economically.
johnwilsonriley 2 years ago
I agree with you 100% Why would we? But i think our politicians have sold us out a few years ago.They might make the situation in Canada so harsh that we would say YES we need the amero,but try telling that to proud Canadian like yourself .
madgreek68 2 years ago
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THIS VIDEO IS A LIE!!! ABSOLUTE LIE!!!!!!!! the obvious inaccuracies are that first of all, you have to be a born citizen to work at the fed. which the dentist's patient is NOT (he says he is from Albania). The guy says he had worked for Geithner close to twenty years, first of all geithner worked for the US treasury which is ineligible for non us born citizens.
Secondly, the guy said that he worked at the new york fed which does not hire us born citizens.
daveibukun 2 years ago
I don't know about this video, but YOUR information is wrong. I worked at the Fed until last year. You do NOT have to be a "born citizen" to work there. I worked with people born all over the world.
wheresmylife 2 years ago 3
This has been flagged as spam show
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)
o Israel spies on this country.
o Israel blackmails our corrupt politicians.
o Israel steals our taxes.
o Israel uses our country as their toilet.
For more info, click my UsedID then browse my informative Israel playlist.
Please distribute this post and tell your Senator and/or Representative about Israel's killing Americans, heinous crimes, stealing our taxes, and its spying on USA. Peace!
HateAllNazis 2 years ago
Inflated dollars...then Amero.
Well spotted.
siddhaam 2 years ago 7
We are at ending the delevarage period , there will be a resting and normal season and then will come of the hyperinflation.
SilverRose09 2 years ago
The USG may not inflate its way out of its debt. It may CONFISCATE its way out of its debt. That could be the backup plan. Crash the currency via hyperinflation and in the midst of it pay off a chunk of the debt. To pay off the rest, CONFISCATE GOLD, as held by fearful gold bugs.
Hording is already illegal via Bush 43 PresDirectives.
The USG will be cutting gold fillings out of the teeth of corpses coming out of the work camps.
TaoOfTheGambit 2 years ago
Judging by the way you spoke this, reading from your script, this is completely made up. You didn't speak to anyone important about monetary policy.
RedDelPaPa 2 years ago
If you are a debtor with a note denominated in US Dollars, how can the government force you to repay it in another currency?
rayofpith 2 years ago
Your debt is tied to your SS#. Have you heard of E-Verify? Brought to you by DHS, E-Verify is set up so employers can effectively ask DHS for permission to hire you. Voluntary for now.
Also to open a bank acct. you usually have to give your SS#. If after a bank holiday the banks are only operating using the new currency, your account will have already been converted, the old currency will be worthless, and your debt will be recalculated in the new currency.
Its simple really.
TaoOfTheGambit 2 years ago
Most horrible diseases begin with mild flu symptoms and then ramp up into something else entirely. So if the MSM, who cannot tell the Truth, starts telling everyone that all the sick people have flu, and if we're having grid blackouts at teh same time, maybe sewage backing up into some homes, maybe water outages, then nobody will know the difference.
Disease is the best shocker. Better than war. Better than economics. It weakens everyone, atomizes them, forces them into hiding. Get the point?
TaoOfTheGambit 2 years ago
Yeah, well keep in mind that almost every illness begins with the same symptoms. All they have to do is create the illusion, the concept of Avian Flu outbreak and then they can hit us with whatever and we'll never know the difference. All we'll know is the hospitals are closed, everyone is dying, the military has taken over the grocery stores that aren't aflame, and the loudspeakers say STAY INDOORS. Plague, anthrax, and God knows what has been created in various labs all begin like the flu.
TaoOfTheGambit 2 years ago
Interesting theory, the Amero birth sequence. But I don't think it will be such a conspirative cloak-and-dagger operation. They will even have a good explanation for everythin.
Anyway, pay off your debt NOW - if you still have any! (why wait for the signals of the government to pay off debt?), buy gold& silver, and put on some weight, too. Every single Kilo overweight that you have stored means 7000 kcal which will enable you to survive for 3 to 5 days (But watch your fitness!).
miguelsotoseudonimo 2 years ago
There won't be rioting in the streets if everyone is sick with flu.
Think about it.
Baxter shipped weapons-grade H5N1 Bird Flu in geriatric preventative flu shots to 18 countries.
Meanwhile, anybody remember the "hacked" power grid blackouts of last winter? Huh? Last Jan. and Feb.? MSM said CIA said those blackouts were hack jobs.
Your hospitals are on the verge of collapse as is.
Here's the order:
Mex econ. coll --> Flu outb. --> Quar. --> grid b.o.s --> Bank Hol. --> Amero
TaoOfTheGambit 2 years ago
Here's how they lock you in to your debt wise guy.
There's only so many physical dollars in circulation. Meanwhile most of the money in circulation is in data, bytes of info on bank spreadsheets.
The new currency will be mostly data as well. Your bank acct. is tied to your SS#. When the (remnants of) your bank acct. is converted to the new currency, so will your debt load. This will likely happen over a "bank holiday."
TaoOfTheGambit 2 years ago
Yeah yeah yeah. When? Huh? When?
Predicting doom is like shooting fish in a barrel these days. Now accurate forecasts of timelines are worth something.
TaoOfTheGambit 2 years ago
when hyperinflation comes, there will be mass rioting in the streets of the US.
mrzack888 2 years ago
great work george! information is always the key. 5 starred, favorited, and subscribed.
TyredUvBS 2 years ago
i cant wait for this fucking system to come burning down
MainTightSqueeze 2 years ago
Esto es Castigo de Dios. Los Gringos han olvidado que son una sociedad que tiene lo que el resto del mundo carece. Han olvidado que los bienes que disfrutan son el producto del duro trabajo, el sufrimiento y sangre de millones de humanos a los cuales ellos han explotado , perseguido asesinado o deportado. De esta menera el mundo se siente un poco mas felices que llego la hora que los gringos seal igual que el resto del mundo. Gracias a Dios Todopoderoso. Amen.
carlosmante 2 years ago
i've been saying this forever. they will crash the dollar, wipe out the wealth, introduce the new currency, the FX rate will be terrible so the rich won't be spared, BUT they would repatriate the debt into the new currency to keep it static AFTER they destroy the wealth. honestly, all wealth will be destroyed somehow or another but they are leaving back doors for themselves. i do not believe gold is one of them. silver maybe. i think some select FXs will be spared. like yuan.
suckapunks 2 years ago
its not 5 billion dommie ITS 5 THOUSAND MILLIONS,WHY U R SO DOMMY AND KEEP INFLATING THE REAL NUMBERS .
LEARN #S AND MATHEMATICS MORON
nosupecualponerme 2 years ago
I don't want to be a millionaire anymore. I want to be a jillion skadillion cazillianaire.
TenderTrap86 2 years ago
grade a vid...glad to see it and will recommend ya site..
islandchef911 2 years ago
This has been flagged as spam show
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)
o Israel spies on this country.
o Israel blackmails our corrupt politicians.
o Israel steals our taxes.
o Israel uses our country as their toilet.
For more info, click my UsedID then browse my informative Israel playlist.
Please distribute this post and tell your Senator and/or Representative about Israel's killing Americans, heinous crimes, stealing our taxes, and its spying on USA. Peace!
HateAllNazis 2 years ago
I hope they destroy cash currency and we switch over to "credit chips" like in Sci Fi flicks.
whitecollarcriminal 2 years ago
that means the gov can empty your acct whenever they feel the need to do so.
credit chips? i hope youre not standing inline for the rfid....
blessings to you!
thanks for vid! wa~hoo!
phloridababe 2 years ago
and then someone has the power to turn off your credit when they deem you as a potential risk, have differing views from the fed? No currency is not the way to go, dont misinterpret the cons of it.
ibram786 2 years ago
End the FED ~ nader paul kucinich gravel ~
ryanshaunkelly 2 years ago 5
'Trust no one' does that include you?
underdog3 2 years ago 3
yep and you n your pockets
WESHMAN50s 2 years ago
george they might even let all the personal debt go free, but under 1 option start a new currency, this has happend in greece around the end of the 1960's but greece a small country compared to usa
Andreellos11 2 years ago
snore zzzzzzzz
btownhotties 2 years ago
nice i ow incredible amount of tickets lol
davison1021 2 years ago
they let the poeple build up there lives with goods and then there going to take it all away...and fast, be prepared for the worst folks:(
bikerboyzx 2 years ago
thanks george! the elite is definitely accerelating their set up of their NWO system. They will have some new currency forms...perhaps the Amero and a stronger Euro. and be backed with gold,silver and other resources. And these tangible assets will have a lot of value as well.
However, they will be heading towards a digital currency and the eventual mark of the beast. Backed and enforced by gold, silver, other assets as well as militarily, politcally and socially. Revelation 13:15-18
powermousey 2 years ago
The liberals said McCain = Bush
the fact is, Obama = Mugabe
TAXtheAtheist 2 years ago
Great video !
Assemble the armies !
REVOLT !!!
maximouni 2 years ago
I thank Ra that your video counts are going down
good.... no money for your corporate friends to suck out of your subscribers georgie
fucking fake ass
you rally up your audience with fear so they can buy metals from your broker friends
sheeple: wake the fuck up
getalotofit 2 years ago
I was gonna post the same thing but you beat me to it.
Bmike4ever9 2 years ago
feel sorry for you dude..your gonna be hurtin when the sh*t hits the fan!
george4title 2 years ago
This comment has received too many negative votes show
shut the fukc up george
you are not for the people
if you were, you would not be promoting and cheerleading for them to buy metals
sit your fake ass down
common sense tells us to save right now and be conscious of the "market"
nothing will happen to me
amen-ra says so
getalotofit 2 years ago
@george4title I agree with Getalotofit. This is all BS.
dannydarias1 1 year ago
@getalotofit your opinion is noted, however I would rather hedge my bets and be wrong than not an be 100% correct. Do what you want but there is always safety in hard assets. If you are looking to make money that's a different discussion for a different economic time.
rhughes004 1 year ago
That's the thing I read what happened in Germany. People who had debt could easily pay off the thousands of debt they owed because the debt doesn't adjust to the market, if you owe 3000$, it's 3000$ whether you're getting paid 10.00/hr or after inflation you're getting paid 10,000/hr (even though it's worth less than the original 10.00), so you could easily pay off your 3,000$ debt in less than an hour. The only "benefit" other than buying up poor peoples land and shit.
depletable 2 years ago
Kyle 1298 If they only spent 200 - 300
Billion in a few years, then no collapse
The problem is they have already spent 4.5 TRILLION in 6 months wiht more to come. Now that's idiotic, now you can go back to praying to your idol Obama. Idiot
nailerfx 2 years ago
If what causes a recession is a lack thereof money. Would printing more money really cause hyperinflation?
imperialcrypt 2 years ago
It's really the goods that hyperinflate then the money tries to catch up with it.
depletable 2 years ago
bla bla bla bla..
jeoflip 2 years ago
I do agree that hyperinflation is coming and a likely scenario from printing too much money, but this story sounds a bit fake.
lyradguitar 2 years ago
The inflation in Zimbabwe was so bad, and the money they printed had so many zeros that the ATM machines couldn't handle it. The machines were never programmed to handle billion and trillion dollar transactions.
hatterofmaddness 2 years ago
ok its going to get bad but not like zibabwe this is america
twistedwest1 2 years ago
This comment has received too many negative votes show
This is idiotic.
America is a $14 TRILLION economy.
Do you honestly think that spending 200-300 billion over the next few years is going to crash the entire economy?
Please.
kyle1298 2 years ago
200-300 billion Wtf? try trillions
danbuck333 2 years ago
The bailout is $9.5 trillion. You already have $13 trillion in public debt, plus another $15 trillion in private debt. Then you have an additional $30+ trillion in commitments for medicare and medicade because the babyboomers are retiring.
Combine that with the fact that you have almost no manufacturing base or production in your country, and the auto industry is using the their bailout money to move what's left offshore to secure their corporate interests.
Good luck.
johan404 2 years ago
I fail to understand the attitudes being shown here, what would you rather have one 1$ note in your pocket, or a 'MASSIVE WAD' of 1000.000 ZILLION $'s, My GOD, the chicks will just flock around YOU, when they know you have all that CASH.
You will be able to pick the most GORGEOUS one, and take her for a very small 'ICE CREAM' with the 100.000 ZILLION $'s.
PRICE-LESS.
By laughing at the ridiculous situation we are currently facing, I find it makes it easier to bear.
Best wishes.
NowisEvollovetion 2 years ago 2
Hi George. In the early 1990's our ship would port in Santos near Sao Paulo, Brasil. There it was 40% inflation per month with the Cruzeiro. So the only way to use your money was to buy things immediately after getting your salary. Prices would rise every few days. Yes your account would ride the inflation wave in the banks,but now banks can't be trusted. Zimbabwe is the extreme and Brasil in the 1990's was mild in comparison. What do you think the monthly inflation rate in the US will soon be?
vdvsoldat 2 years ago
Saw on CNN where MD will have rolling blackouts due to large % behind on electricity bills. Cities delaying some in light of winter :-)GM says continuing "substantially doubtful". Gov't adding jobs!
potterword 2 years ago
FL store SaveRite have wkly sales. Last wk, any purchase with coupon get 12pk Winn-Dixie drinks. Pork Ribs .98 cents lb.This wk, any purchase, dozen eggs free.Countless in store daily popup bargains.
potterword 2 years ago
Tuna cans now at 5oz, not 6 in FL, same price or higher. A subsidiary of CSX in FL sent all employees home for 6 wks. 2 wks vacation, 4 unempl ins. @ ~$308 per wk. Most earn >$22 per hr. Saving $4Mill
potterword 2 years ago
Detroit Free Press (yes, their still in business) reports the school district will probably layoff all teachers & admin and only call them back in June 09 on an as needed basis. An economic tsunami?
potterword 2 years ago
The x-ray technician just happened to have a bag of silver coins? WTF kind of bullshit is that? This guy is a lousy writer.
andrewh23 2 years ago
If you only knew Twisted Avatar you wouldn't say that.
jerome209 2 years ago
Great video George, thanks for using the zimbabwe notes, great prop. America is not immune to inflation. And it is coming! Beware!
houseofthemoon 2 years ago
Very appropriate, using Zimbabwe currency as an example...since we now have our First African President!
Oh, and isn't it interesting that the O-ministration has appropriated Billions to go to the IMF...where Geithner came from?
I guess that is a downpayment on the hush-money to keep secret what Geithner did there.
SeekerNLife 2 years ago
Important video. The laws of economics are not repealed by wishful thinking or "hope."
alogmail 2 years ago
So what happens when they tell us Gold & Silver has no value?
sheisme1auntie 2 years ago
Gold and silver have inherent value, unlike paper currency, because of their rarity and other useful qualities. So that would only happen if someone flooded the market with either one.
johan404 2 years ago
$1000 dollars for a loaf of bread coming to a store near you soon.
DickGhostmoon 2 years ago
I thought so
george4title 2 years ago
why are you showing a chip?
MarylandJuly89 2 years ago
put your stock in food and ammo as in buy it and store it in your home
rumpelstillskin65 2 years ago 2
You're exactly right!
And be sure you do it asap - you're running out of time!
shoeman3434 2 years ago
I'm in Colorado, over the past couple months our cost of food has dropped rapidly. Some would say they're trying to drive small farmers out of business, could be. But it sure is a lot easier to stock up when its cheap!!
stephanieco28 2 years ago
drive small farmers out of business? Maybe you have not heard about the mass sell off of family farms across the Mid West over the past 25 years?
This has already happened. Ag prices spiked last year in the commodity run up, they are now back to historical norms.
You are correct tho, prices on food items have dropped in the past few months. Compare a simple basket of foods in May 08 to March 09..big difference. Deflation.
Astrocreep69 2 years ago
I don't agree with your last statement. I see boxes and bags getting smaller, while prices get higher at our local grocer. What you read in the news and see around you are two different.
stracinsrt4 2 years ago
By July of 2010 everyone here will have awoke from their hyperinflation delusion.
Astrocreep69 2 years ago
Sorry but this is BS. Zimbabwe style hyperinflation isnt gonna happen in the US or most other western nations. Credit is created through financial institutions in the US not the government like Zimbabwe.
tubester4567 2 years ago
Don't buy gold, buy food and bullets.
Rocky1990 2 years ago
ya totally food is going to be more valuable, its not like you can go into the grocery store and present the casheir with gold coins
tiawaddauthink 2 years ago
tiawaddauthink, no, you would use your gold and silver to buy what ever currency we will have at the time. You are not going to use gold and silver to cover your expenses or goto a grocery store,rather, thats for the new currency. The Gold and Silver that you have saved up will be for the EXCHANGE for that currency so that you are protected against poverty. View Gold and silver as a insurance policy for your money rather then an investment.
truthseeker1210 2 years ago 3
Wow George they removed your titles!
The elite don't appreciate you, definatly not.
Rocky1990 2 years ago
haha- a 10 billion Zim note for $5.50!! wow.
PestControl02 2 years ago
Fuck!
Cleric775 2 years ago
biscuits
the schnauzers..
are going
to eat..
all the biscuits..
woof ..
chena3 2 years ago
Being that there are so many European viewers on YouTube, tell me, how did say the Deutsche Mark translate to Euro's where debt was concerned? Would a new currency ward off hyperinflation? Is a currency change a better alternative?
I'm in a position where I handle great sums of circulated money. I buy out all silver, wheaties, silver/gold certificate bills etc, anything I deem worth more than face value. Normally, I sell these on eBay. Would I be better served to save them instead?
EquivocallyAbsurd 2 years ago
I'm in debt right now, I'll wait for hyper inflation to hit, then pay off my debts using the inflated money. But George is right, if the Gov introduce a new currency, they try to tie you with the debt.
Mojo1982 2 years ago
Debt in inflation = higher intrestrates. Do anyone believe that a bankar has made a system where he takes losses from inflation?
snakecharmer133 2 years ago 3
Going into debt at this point (even to buy tangible assets) in the hope that your debt will be wiped clean by hyperinflation is... pushing your luck. Play it safe.
heydanno777 2 years ago 3
at 2:10, is that Kevin Rudd in the room with geitner and brown?
luke666808g 2 years ago
Albania doesn't use Dinars.. they used to use Lek back then.. now they use Euros
qantmrckr 2 years ago
All those people saying "oh stop devaluing the dollar" you don't realize that in a world of diminishing resources and every increasing people, the reserve currency is going to be inflated either you want it or not. Hyperinflation is going to happen either in USD or any other currency they choose to be the reserve, it is simply unavoidable. Its a matter of time and "growth"
dakusahab 2 years ago
The Collapse was inevitable. Americans should be grateful your government managed to keep you living the good life for song long. Now when there is a collapse, everyone will be in the same boat so you pricks get a second chance again.
dakusahab 2 years ago
I am a former New York Fed worker. I quit.
I am a former junk bond broker worker. I quit.
I paid off my debts and got off the grid.
slobomotion 2 years ago
I can imagine taking that 10 Trillion bill to a 7/11 and the clerk not knowing how to count zeros to make a trillion...and the dumbass gives me back an extra 100 Billion! Yeah baby!
OmarThePug 2 years ago
great vid .. thanks.
navtel 2 years ago
I cracked up at that 10 Trillion bill! That's not real!?
OmarThePug 2 years ago
Yes it real, its a African dollar. Zimbabwe Dollar to be exact. Can you imagine if you spent your life saving up saying a $50,000 (life savings) and then the money hyper inflates to $10 Trillion notes?! Your savings would be wiped out and thats the point where some rave on about gold, if you have wealth holding it all in fiat money is bad in times like this. Only gold or something tangible like that would hold its value and protect your savings.
imperialcrypt 2 years ago 2
10 trill that makes no cents at all
5*'s
AR15Truther 2 years ago
Excellent video. Very well considered and formulated. Wake up people!
Terminate FederalReserve.
Terminate FederalReserveNotes.
Terminate FractionalReserveBanking.
Terminate every form of "fictional" leverage.
The states formed the federal government, and the time has come for the states to dissolve the federal government. Nothing less will work at this point, for the federal government has gone completely elitist, fascist, militant authoritarian, totalitarian criminals.
honestann 2 years ago 2
Yes, it's impractical to buy small items with gold coins or gold dust. What I'm waiting for is that window of opportunity (and it may not be a big one), when the old dollar has collapsed, and the "new dollar" or new world currency is being implemented, to sell off some gold to get out of debt. I don't care if I do it at a bank or in a dark alley!
I'm sure an underground barter economy will emerge, including trading gold for large amounts of the new currency.
Doesn't this sound plausible?
awakenedlightworker 2 years ago
Toilet PAPER will be worth more than our DOLLAR..sadly and everybody just about on here knows it
WakeUpNow2012 2 years ago
The Dollar may hold some relative value down the road but I'm certain it will be printed on toilet (recycled) paper. The paper they use now will be unaffordable. Take them out of your pants before you put them in the washing machine !!!
curiousEGM 2 years ago
You guys do realize that the US Dollar has been rising against all other currencies, right?
getplaning 2 years ago 2
wrong. its droping look it up its worth about 23 cents
eviljester1987 2 years ago
I remember back before Sept, 08. USD near par with CAD. Then shot up 20 cents.. If you live in canada and bought like 10,000 USD before that then cashed it back after it went up. You wade 20 cents on every dollar. $2,000. . Welcome to making money while producing nothing. Forex..
imperialcrypt 2 years ago
What's the point?? Go see if things are getting better. Do the research. I can't buy a loaf of bread in my hometown with Euros. The price of the loaf of bread is not going to drop because the Euro is weaker everyday!! The more people are forced to earn less and pay more for everything is just going to rattle your cage in the long run. Better have a strong one at that. If you have a ton of money, you're going to see through my comment. I've been around, things are going to be worse soon.
curiousEGM 2 years ago
It's only a deflationary trend because everybody is liquidating their assets and some schmucks think the US dollar is a safe haven, so it's on a rally against other currencies.
Nothing is certain but I doubt that will last very long.
johan404 2 years ago
Comment removed
imperialcrypt 2 years ago
It is prudent to hold silver and gold in these times but be aware
that any new currency that comes out especially the North American currency that may be in the works can and most likely will set an arbitrary price for gold and silver
that arbitrary price can be 200$ for gold oz and 5 $ silver oz
I hold silver and gold it is prudent to do so but wary.
dave777blaster 2 years ago
Mr. Rothschild will send them goons out to get you georgie better leave that gold along..lol
neanam 2 years ago
Your end comment is excactly what ive had pictured happeing in my Mind for a while now.
That is the Endgame.
BrodyLuv2 2 years ago
i wonder did you watch Aaron Russo before you read twisted metal?
dan020350 2 years ago
The currency in Zimbabwe is now basically useless. Many stores will no longer accept it, and people are using 50,000 dollar bills to wrap up gold particles. Gold, by the way, is now the only legal tender that works in Zimbabwe. Many people now mine the entire day, in order to collect enough gold to feed themselves and their children. The old, the infirm and the orphaned children are left to die. It is a shocking case of human rights violations.
cybersphere 2 years ago
I don't think I'm buying this hyperinflation thing. Our debt is not even 100% of GDP. Countries which face hyperinflation usually have debt several hundred times their GDP. Also the FED is going to do everything it can to stop inflation including raising rates which could cause an adverse feedback loop like during the Great Depression, ie deflation. I don't know how bad it will be though...
ebaum1saik 2 years ago
ebaum: you need to really understand what 'inflation' is. Inflation is an increase in the money supply. The Fed IN NO WAY is going to stop inflation.
cv1122 2 years ago
Yeah, but "money supply" has different variations. Right now there is very little money velocity, ie no multiplier effect. In fact the FED is lowering its balance sheet as we speak.
"The Fed IN NO WAY is going to stop inflation"
I don't claim to have perfect knowledge, but they seemed to do a good job of it in the early 1980s. In the end these numbers seem big, but as percentage of GDP it really isn't. A deflationary spiral is still a very large concern in my opinion.
ebaum1saik 2 years ago
ebaum you are correct. The hyperinflation junkies do not understand the actions the FED will take if their treasuries are compromised. However, deflation will be much worse that inflation on this country in the coming depression.
Most dont understand that the world is lost, more so than the US. Safe havens? The Frank? nope... The Yen? Japan is sinking. The US will be proven to the the safe haven, As much as you would like it to fail, it inst going to..
Astrocreep69 2 years ago
"I don't think I'm buying this hyperinflation thing"
It isn't just Treasury debt that will be paid through the inflation tax; it is also consumer and corporate and mortgage debt which has overburdened our productive capacity.
They are not repudiating any debt except what they allow through bankruptcy. The bailouts and deficit spending are a sly form of debt repudiation via inflation. They simply must have enough money to service these and future debts whether or not production catches up.
OgeronimonominoregO 2 years ago
It is not understood that all the money in the world cannot soak up all the 10's of trillions of dollars destroyed to deleveraging in the next few years.
This is not the "tide" before the storm. This is the storm, welcome to the deflation. You will be praying for inflation in a few years, deflation will be a much harsher death blow.
Astrocreep69 2 years ago
You need to explain exactly what you mean by "tens of trillions of dollars destroyed." The bailouts are money creation, not destruction. Where are they allowing debts to be discharged except in low level bankruptcies? They are re-inflating all else, aren't they? Isn't that their plan?
"deflation will be a much harsher death blow."
It may be a harsh blow, but it is the natural correction for the inflation bubble. The Fed won't allow it though. They are 100% sold on inflation.
OgeronimonominoregO 2 years ago
Deflation has never destroyed an economy- ever. Its a false Satan to be wary of.
Bowser2398 2 years ago
i think you mean....hyperinflation......
xmepox 2 years ago
No..- because hyperinflation has destroyed economies. I'm saying that people wary of a "deflationary catastrophe" are worried about the wrong thing.
Bowser2398 2 years ago
oh, ok now i see what you're saying. sorry about that...
xmepox 2 years ago
"The Fed won't allow it though. They are 100% sold on inflation. "
This couldn't be further from the truth. If you believe that the FED will just sit back and watch their treasuries be destroyed, you are badly mistaken....badly. They will raise interest rates.
Astrocreep69 2 years ago
Well, the Fed has a great track record, don't they? And the US gov't too, right?
They always know how to do the right thing at the right time because they are the central planners of the economy and they protect us, right?
I don't know why anyone would put any faith in these criminals. They're destroying the currency and the economy and our freedom, and people still treat them like demi-gods who know all and see all and who can push a button and make everything better. I don't buy it.
OgeronimonominoregO 2 years ago
When it comes to monetary policy, the FED is has a very predictable record. It is cut interest rates to keep the economy moving through slow downs and raise interest rates to control inflation.
You still don't get it. I'm not supporting them. I'm just telling you how it is.
If your inflation ever does come back, they have two choices:
1) Sit back and watch their treasures collapse.
2) Raise interest rates to kill inflation. They have advocated doing this again as they did in 81'.
Astrocreep69 2 years ago 2
I'm not saying you support them. I'm saying you have confidence that they will 1) do "the right thing" at the right time, and 2) that it will work and be some sort of solution.
It's not a solution, is it? First, what does it do to the economy when the whole system runs on credit? How can there be enough productivity to service and pay down existing debt if credit is curtailed due to inflation? How do you know people will still want Treasuries? What if China and others dump them?
OgeronimonominoregO 2 years ago
What production?
johan404 2 years ago
Can someone explain to me why buying Gold/Silver would be better than buying Euros or some other reliable world currency?
Gold and Silver are completely impractical as a means of exchange. The dollar may collapse, but a dollar collapse wouldn't cause other currencies to collapse as far as I know.
elshizzo 2 years ago
cause euros and yen and dolalrs are all just toilet paper in the end.
They are backed by nothing.
All currencies of the world are pegged to to the USD.
Silver is Money, Gold is Money.
Learn you history or you are doomed to repeat it.
doobsta 2 years ago
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Not being backed by something doesn't mean a currency is going to collapse. What a bunch of nonsense.
The only reason the dollar COULD potentially collapse would be from America's massive debts and being forced to print its way out of debt.
I see no valid reason why currencies of countries that are fiscally solvent would become worthless.
Gold and Silver, unlike cash, are NOT PRACTICAL forms of money.
elshizzo 2 years ago
lol, go read your constitution, you obviously have no grasp on reality of the matter and how the FEDERAL Reserve system works. Have you looked at your money lately? Does it even say US dollar on it? lmaooo
All currencies OF THE WORLD, are pegged to the USD.
if the USD fails other currencies may appreciate in the short term.
What do you think will happen after that?
New money is coming and the writting has been on the walls for a long time.
Currency crisis for everyone in 2009-2010
doobsta 2 years ago
Gold and Silver, unlike cash, are REAL MONEY.
Historically they have always been and will always be MONEY or WEALTH
Cash=Toilet paper.
Metal=Something of Value
Paper=Nothing
Gold= Money
Silver= Money
Break through the fog and undertsand it before you starve with FRN's in your hand...
doobsta 2 years ago
Here is just one thought. The USD is the worlds reserve currency - meaning it's the accepted form of payment between individuals, corporations, etc from different nations. If the reserve currency fails, and by definition, no one wants it then world trade takes a further blow which would in turn severely damage many economies causing political and social unrest. Fiat money is backed by something... the people's faith in their government. Lack of this means fiats fail.
hnsbro 2 years ago
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Aghhh, I'm surrounded by Pauliacs...
can't.....breathe....
You guy's keep waiting until the world deals in fkin gold. Yeh, i'm gonna go to the grocery store and purchase my groceries with little gold specs.
Cash is and will always be the way goods are exchanged. Just because one currency collapses doesn't mean they all do. [ I don't think Zimbabwe's currency mess has effected us yet ]
elshizzo 2 years ago
For the record, I'm not against buying Gold and Silver. They are a good store of value.
Though they also have the tendency to bubble and drop in value once economic conditions get better.
elshizzo 2 years ago
so do you think this shit is getting better
danbuck333 2 years ago
Wow. That's quite an attitude considering the fact that this system has already failed worldwide - or hadn't you noticed that?
Do you understand that without constant intervention, manipulation, control, edicts, seizures, bankruptcies, re-structuring, guarantees, bailouts, bond selling, tax collecting, promises and lies, etc., that the whole system would have been history months ago?
Is this your idea of a stable, just, moral system?
Explain.
OgeronimonominoregO 2 years ago
"Is this your idea of a stable, just, moral system?"
"so do you think this shit is getting better"
You guys should really read up on the actual reasons we are having a financial crisis. There are many reasons, and us having fiat currency isn't one of them.
elshizzo 2 years ago
"You guys should really read up on the actual reasons we are having a financial crisis. There are many reasons, and us having fiat currency isn't one of them."
Wow! Pray, tell! What are the "actual reasons" we are having a financial crisis???
OgeronimonominoregO 2 years ago 2
All cash is (or is suppose to be) is a receipt for an amount of gold. Gold as of today is used as a primary reserve of wealth. It doesn't mean we actually use it to buy goods.
calladuz 2 years ago
Cash is not a receipt for gold or anything. It used to be, if you examine old bank notes, they said pay on the bearer on demand gold or silver. Now it just says its legal tender and if you have some of those old Notes, the promise to pay back the gold or silver is now void. if you lived back then and saved all your wealth in those receipts you probably would feel pretty scammed.
imperialcrypt 2 years ago
Cash will always be necessary and is actually in a bull bubble right now....you will cash you etfs or sell your gold and use the cash for your expenses
george4title 2 years ago
excellent vid George4title, do you think the IMF will liquidate its gold reserve? I'm guessing it'll cause a huge drop in gold prices
Infineon77 2 years ago
old debt
new money
woof..
like a schnauzer
on a leash ..
bad doggie
no silver...
chena3 2 years ago
When they bring (not if) the new Currency it will be the North American dollar and this is so that all international debts can die off with the old money
Gold and silver is no safe haven it can be confiscated and it can be tied to a new currency effectively reducing the Gold and silver holdings of all the people that bought into gold and silver.
I am the only one saying this but I know a lot ...
I expect this to be more possible than not .
dave777blaster 2 years ago
The value of PM's would need to increase dramatically to make even a small dent our debt - I dont think its worth the goverment's time to pull an FDR. Also - think about the kind of people who own physical gold and silver. I doubt many of them would turn anything over to the government. I wont.
hnsbro 2 years ago
You do manage to find the goods, George.
Hard to tell if the story is for real or not, though.
elshizzo 2 years ago
no kidding. maybe it is but there is no way to verify. This is a classic 'friend of a friend' story.
hnsbro 2 years ago
this is a direct source - to bad he didn't have a recorder going
george4title 2 years ago
I trust it this guy is a fixture at GIM
george4title 2 years ago
Wages will fall and fall and fall over the next few years. Unemployment will continue to rise. When Interest rates are raised, and they surely will be, mortgage and CC rates will follow. This is deflationary.
There will be a threat of inflationary expectations in the next decade. Once the Feds portfolio is compromised, they will not hesitate to raise interest rates.
Look at the early 80's for an example. Volcker!
You will wish for inflation when hyperdeflation has ravaged this nation.
Astrocreep69 2 years ago
Seems like hyperinflation already. I know there will be an "April Surprise" along with a "July Surprise"
DurAR89 2 years ago
you can buy a lunch with all of it that's about it
dave777blaster 2 years ago