The monetary system will utter collapse in 60 days, currency will be worthless by Christmas

Wow, you are optimistic! I don't beleive there will be anything left TO rebuild. House of cards falls down, wars start,famine, plagues, the end man. There can be no recovery from this disaster.

I'm kind of regretting putting in the fed stuff, but the fed exist right now and it is a good idea to forecast its actions, ignoring the fed will not make it go away, no matter how much people want it to go away!!!

They are going to print the money to buy the time, but basically in this scenario, almost immediately, all credit will disappear,

That is as soon as the banks default, all credit cards instantly become worthless pieces of plastic!

How long will the economy exist if that happens and that surely will, fin reg did nothing to stop this, I believe, they create regulation and then when the next crisis hits, the regs have no impact

OK, you got me back. You're right. They will try it. It's all they know.

Nice job, Harvard.

Right now, the will is very strong to stop the debt spiral, and it cannot be done that quickly, or simply,

It is trying to imagine a world without money,

Total Assets of the U.S. Economy ($188 Trillion)
Total U.S. National Debt ($14.717 Trillion)

If the 500 largest U.S. corporations pooled their resources and paid off the $14.7 trillion U.S. National debt, wouldn't we ALL, including them be much better off?

[link to rutledgecapital.com]

This U.S. National CANNOT simply keep climbing at LIGHTNING speed!

[link to www.usdebtclock.org]

Last Edited by Biochemky on 09/12/2011 10:49 PM

An optimist on GLP...who'da thunk it? Actually, I thought my post was pretty doomy with just a light sugar coating.

Anyway, my optimism lies with the small percentage of people who will survive. I'm prepared not to be one of them, and I'm fine with it. Somebody will rebuild what we've broken, and hopefully they will learn from our mistakes. That is what gives me hope.

All those numbers made my head spin, The 200 trillion dollar figure is just that a figure, I can say my body is worth ten million dollars, but saying that does not make it so, gold is not 1800 or so but tomorrow it could be worth 10 bucks, a building in nyc might be worth 300 million, but tomorrow it could be worth zip.

Assets are always hyper inflated, while debt is exceptionally real, the mortgage crisis got out of hand when those houses were not worth what the banksters thought. then boom

Here it is the political will, the delay of even a matter of days that will make all the difference, the delay of guarantinng a loan or making sure a bank stays solvent even in the event of a bank run.

Go

Hey better check that debt clock again, bottom right corner, US, TOTAL UNFUNDED LIABILITIES: 115,511,543,000,000 (THAT'S TRILLION) with a giant effing T.

Yeah good luck paying that back.

Also we've already exceeded the GDP. The GDP is 14,920,830,000,000 Trillion.

Not even close.

Smoke em if you got em, the end is coming now inevitably, grab a drink and watch the fireworks.

I guess.

Been hearing about this collapse for the last 3 years. Fiat currency is not going away. Just remember that there is no wealth in fiat currency and you'll be fine. Go long on gold, silver, real property and let inflation work in your favor

fed balance sheet, 2.9 trillion, just got that on cnbc, don't have link, but its there, yikes how much more can they do?

Unfunded liability per taxpayer is +$1,000,000?!?!?

But default is anti inflationary, it is highly deflationary, takes money out of the system, vaporizes money, If money disappears a million dollar house is then worth a tenner. it is the agreed price, period.

basically it is the reckoning, that is the taking of all savings against the default, and the government being paralyzed and unable to provide any repayment to the depositor.

It is this idea of allowing sovereign default that will start this, and the idea of stopping the borrowing, this shock to the system may kil the patient

Hi cg! Long time no see. How are you doing? (sigh) I know how you feel.
I agree with you that I fear the monetary system will collapse before Christmas.
It breaks my heart when I go to festivals like this past weekend where people want to buy crap. They really think this stuff is the way to happiness. You can try to tell them this is for real, but they are too happy driving down the road to see the cliff up ahead.
Maybe in a strange way it is a blessing for them because I truely believe that many of them would not be able to handle life these remaining weeks with a stable mindset.
People really can't realize that everything is about to downsize, what we can buy, where we can go...
I hate to say it but up ahead, Easy Street is a dead end.

I know it's a bummer, but hang in there, you're not alone.

What. Are. You. Smoking?

default by definition is inflationary.

Money won't disappear, at least not at first.

The first step will be hyper inflation of the weimer Germany or zimbabwe or many other countries that have tried this.

You won't be able to buy a loaf of bread with all the money in your bank account.

See here: [link to www.google.com]

Read up about Austrian Economics. Ludwig Van Mises. Lew Rockwell they know what's up. www.lewrockwell.com

Anyway that's how it starts, then the dollar loses reserve status and oil goes through the roof, at least for us.

See, as long as oil is priced in dollars it's cheap but once we lose that coveted status, it will go up. A great deal. Then the prices of everything goes up, and from there it's a downward spiral.

Ran across this thought on another thread, thought they might fit here:

"There is one thing staving off the hyper inflation collapse right now -

OIL

The petrodollar.

OPEC sells oil exclusively in dollars. All nations have to get dollars to buy their oil. This creates global DEMAND for the dollar, and is the sole pillar giving the dollar value.

The moment that system goes the dollar is backed by nothing and becomes worthless overnight.

But you see the revolutions the banksters are creating - the arab spring - will eventually overthrow Saudi Arabia and cut this off at the knees.

The arab spring is engineered to cut off oil and trigger the final collapse.

Without oil backing the dollar is exposed as what it is - worthless overspent paper."--Quoting AC

"The goal of THE FED is to seize control of the world and destroy all soverign nations.

With the quantitative easing programs (that the MSM calls 'stimulus') the banksters will totally ruin the USA and the world economy. Check it out-

1. Political stooges like Bush and Obama spend trillions of dollars.

2. Political stooges like Bush and Obama rack up trillions in debt (15 trillion) that is funded by foreign nations.

3. Spending continues, debt increases.

4. Foreign nations realize money will never be paid back and begin dumping debt.

5. Federal Reserve steps in with 'QE' printing trillions of dollars out of thin air. This money is used to buy the debt so the government can keep spending.

6. The 'Fed' buys up all the debt with this program (they now own over 80% of the national debt). All of it owed to a PRIVATE, non-government banking entity.

7. Inflation through the massive printing devalues the dollar. Creating revolutions around the world.

8. Government has no choice but to continue this cycle or collapse, so the 'Fed' keeps printing more money to buy more debt.

9. Inflation continues until it costs thousands of dollars to buy basic needs. Hyper inflation. Global economic implosion.

10. The banksters buy up everything for dirt cheap in the national bankruptcy. All the debt, mortgages, property, resources, etc. Complete control and world domination.

It's brilliant in an evil way.
But Bernanke is a stooge himself. This is ROTHSCHILDS plan."--Quoting AC

Thread: Ben Bernake is a genius

you are one messed up person, philosophically anyways. You see the problem, dis on the tea party who wants to try and contain it by NOT adding MORE debt, and want us all to pony up more money to pay for bailouts of greedy fucks and the shyster politicians mistskes? I have been officailly shocked by a post on GLP.....ohhh, I get it, you are typing from the basement of the whitehouse aren't you?

I simply do not think the people will allow the printing of weimer amounts of money, they won;t get the chance when all credit lines are pulled instantly.

I mean right now we are living on weimer like funding, and have been for years now. fWhat is the fed doing with a 2.9 trillion dollar balance sheet, The will to hold this in place is nearly gone and then with no more dollars to be injected into the system, it collapses, starved to death. No, they will not hyper inflate, i just do not see it

yet you think this is partly the tea party's fault?!?!?!?! wow, you need to stop watching msnbc.....

i do not want anything, I am only trying to see how the future will unfold, jeez the prickly posts, I basically want to know exactly what will happen before it happens, I have some ideas but they get sharpened with discussion

[link to www.youtube.com]

Knowing the problem partly accurately yet blaming the tea party people, the only people who REALLY want to save and restore America is just WOW!!

I am concerned by how far people want to go, how many think it is ok to totally tank the economy permanently to stop the debting, for that is what it will take, the total destruction of the currency around the world to stop this cycle, nothing less will work the habit is just too ingrained

And I am not blaming the tea party, jeez. I am just guessing their responses to current events in the future

Last Edited by cg on 09/12/2011 11:35 PM

God you are stupid.

How did you think the euro or frn were going to be the only fiats ever to make it? Every single one of them has died. A ratard knows that death is the only outcome of a fiat currency.

So.....how in the fuck did they not know?

Really...

[link to www.runtogold.com]

nuff said.

fiat currency is about to become worthless since, the government, well any government cannot be trusted to guarantee its debt and neither be trusted not to default nor default by hyperinflating its currency

Thank God.

their (banksters+multinationals) money is theirs..
they are not abt to become charity organisations

And we see how badly Bush fucked up. It was the war straw that broke our financial back.

tptb are so predictable. Doesn't anyone see that they are fueling your fear of a total global economic collapse so you will accept a NWO to keep the world from falling apart? Think 9/11, we gave up our privacy because of fear of terror. 2008 we agreed to bailouts of big banks to keep America from disaster. What are we going to agree to next, to keep the world from economic collapse?