35 replies to this topic

[OEXCHAOS]

I know Armstrong is a lightning rod for controversy, but his concerns discussed here:

http://www.zerohedge...ryones-accounts

are confirmed, here:

http://www.imf.org/e.../pdf/fm1302.pdf

It's a very scary prospect.

M

[q4wer]

capitalism dig a hole for itself

[SemiBizz]

That box was opened in Cyprus... Sure not any surprise to me. There are committees in congress over the past few years discussion nationalization of pension plans, 401Ks, IRAs. We won't get any notice when it comes, you account will be handed over and you will get whatever the government decides to give you. This is Voodoo Finance. Why would it be a surprise? Governments can't go on owing Zillions of $$ without some Draconian solutions when the Fit hits the shan...

[zoropb]

Talk about a black swan wow! Those folks will not take it lightly if this happens. Who would?

Edited by zoropb, 03 January 2014 - 10:42 AM.

[Rogerdodger]

Why Upset? You didn't make that. Besides, the largest tax increase in US history has just become law, disguised as insurance.

Edited by Rogerdodger, 03 January 2014 - 10:55 AM.

[AChartist]

capitalism dig a hole for itself

Myth, aint never existed.


Follow the Maloney history of money on Youtube, start with part 4 ok,

there is another segment that I dont remember where to find it,

titled on creditism.

[AChartist]

hard to say but probably pushes money into US stocks and bitcoin my 3D printers wont back down which is the same thing that stopped me from feeling bearish in any minor declines. I am inclined to keep some cheap anyway for 2-3 weeks, probably just waste but all insurance is waste, paying for something you never get.

[SemiBizz]

Couldn't happen here eh? How about 1933 - Roosevelt ordered the confiscation of all gold and outlawed ownership. Don't put anything past these ______s. Anything to preserve the status quo bureaucratic dictatorship. Just how free are we if we can't even expect to hold on to our savings?

[libertas]

After the Second World War, the idea of the Keynesian free lunch took hold. The idea was that socialism was affordable because the increase in government spending would create economic growth and allow tax revenues to rise as fast as spending. Unfortunately this has not worked in practice and so huge debts, both public and private, have piled up and continue to accumulate. The myth that this debt does not matter because "we owe it to ourselves" is simply not true - the debt is owed to the banking system, visible and shadow, which does not have the capital to withstand any significant losses. Since what we think of as money is mostly credit, it disappears as the banks fail. Accounting changes have allowed the banks to conceal the true state of their assets, but any real stress on the system will quickly show who is swimming naked. The Cyprus bail-in is an attempt to manage the destruction of credit in an orderly manner. Is a similar process in our future? Not at all unlikely, in my opinion.

[cycletimer]

Couldn't happen here eh? How about 1933 - Roosevelt ordered the confiscation of all gold and outlawed ownership.

Don't put anything past these ______s.

Anything to preserve the status quo bureaucratic dictatorship.

Just how free are we if we can't even expect to hold on to our savings?

Before this happened in the US, they would FIRST have to confiscate all firearms from US citizens which won't happen. They'll never get our guns (if you don't believe me you're not from the deep South, we in TX hold our guns sacred!)... If US Gov't tries to get cute with our bank accounts, IRA's, etc. this would result in a massive armed conflict, American Revolution, part two. Oh...maybe that's why US Federal law enforcement agencies purchased those hundreds of millions of rounds of hollow point cartridges, along with those armored personnel carriers....hmm.....still, this is very unlikely here in the "Land of the Free."