Inflation vs. Deflation Update 06-09-2010
Uploader Comments (watcherjohnny)
All Comments (31)
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there has been a lot of talk about removing the USD as the international reserve, that would bring all that 80% back to the USA real quick....
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@nomoreserfs You get the point regarding CONfidence. I think most don't. We are truly in uncharted waters. And like generations of mariners, we find ourselves asking "what lurks beneath". Best to temper our imaginations I think, save we develop a nervous condition!
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Time will only tell and you make a good point. We have to remember also that the only thing backing our currency is CONfidence. Once confidence in our currency deteriorates, inflation can rear its ugly head in a big way regardless of people being neck-deep in debt. As long as people put their faith in the greenback though your conclusion could be correct. We are in uncharted waters my friend.
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@nomoreserfs I've heard they're sitting on that money for the next wave of foreclosures, when the real mortage crisis hits. I.E. Option arms and Alt-A mortgages. The nice intro rates those people are getting under those terms are supposed to be good but when the real rates kick in lookout. It's supposed to be worse than sub-prime. They have so many schemes these days to cook the books. I heard the NY Fed was going to start counting people underwater as renters. Schemes undreamed of.
8% of dollars outside of US? LOL there is at least 600 TRILLION dollars outside of US right now. All commodities and most exterrnal debts of all countries are USD denominated.
quadcatfly 1 year ago
@quadcatfly You misunderstood (sorry, but sometimes I don't speak as clearly as I should). I said 80%.
watcherjohnny 1 year ago
Maybe we should call it what it really is; A double-dip Depression!! And the derivatives scam continues on!!
pat52010 1 year ago
@pat52010 We should know soon enough if it's going to be a double dip. I've been hoping we might get a little traction, but it's not looking that way. I think we need to shed a bunch more debt before a true recovery can begin.
watcherjohnny 1 year ago
Now is the time to imagine new ways to store and represent value. We need an alternative to "money". Here's a start. Value exchange documents created by each state, or city even trusted company or individual. These documents could be administered by individuals elected or appointed by citizens from their location. All information should be public, instant, and fully transparent. What is needed is more choice not less. Who wants FRNs or gold? Sheep. Time to think big.
lblmer 1 year ago
@lblmer Well it's certainly an intriguing idea. How about doing a video reply and fleshing it out some. I'll also link to it in my next video. Thanks for posting! Regards, John
watcherjohnny 1 year ago