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Old 11-24-2010, 12:19 PM  
Commodore

San Marcos, Texas
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China and Russia Drop Dollar

China, Russia quit dollar

Didn't even know they converted their currency to ours in order to trade. Signal of a new era of waning US stability I suppose.
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Old 11-24-2010, 01:01 PM  
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Yeah, this is bad, real bad. Everyone needs to pay real close attention to their investments.
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Old 11-25-2010, 10:09 AM  
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Rochester, New York
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Yes, it's prudent to pay attention. The China/Russia thing isn't a surprise and it's just the beginning. The almighty buck is no longer the world's de facto currency and it shouldn't be.

I'm much more concerned with the antics of the Fed. Buying our own debt and issuing money based on that debt is not a great way to sustain an economy. Our money is being devalued daily: prices for clothing, food, fuel and energy are rising. This will continue and, I think, get a whole lot worse.

The market is not an economic indicator these days and if I could pull my 401k out of the market, I would. What you choose to store your wealth in is up to you, but U.S. dollars aren't a good bet, IMO.
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Old 11-25-2010, 10:46 AM  
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Knoxville, TN
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Quote:
Originally Posted by Brian View Post
Yes, it's prudent to pay attention. The China/Russia thing isn't a surprise and it's just the beginning. The almighty buck is no longer the world's de facto currency and it shouldn't be.

I'm much more concerned with the antics of the Fed. Buying our own debt and issuing money based on that debt is not a great way to sustain an economy. Our money is being devalued daily: prices for clothing, food, fuel and energy are rising. This will continue and, I think, get a whole lot worse.

The market is not an economic indicator these days and if I could pull my 401k out of the market, I would. What you choose to store your wealth in is up to you, but U.S. dollars aren't a good bet, IMO.
I've tried to teach a few folks a thing or two here and they won't listen. I can't speak freely and my posts seem like a waste of time and may not really make sense, I can't really let myself go here like I do elsewhere because my style is not tollerated here. Brian, I think you may get it, you may very well see the unseen but the others here do not and I don't feel like fighting them anymore.

Folks, it gets bad, real bad, and quick. I guess you'll just have to live it, but most of you will not survive it.

I don't pretend to be some sort of prophet, not even, but about 11 years ago I was shown the puzzle of a 1000 pieces, I know how it ends and what it looks like and many of the folks I have spoken to ridiculed me, it is now coming to pass. As I said I saw the whole puzzle, not every piece but the whole and now I see the pieces, one by one and how they all fit, nicely too. To look at just one piece makes no sense and seem to not be connected but they are. So to sit here and argue about every story or to be threatened with banishment...just ain't worth the effort.

Take care.
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Old 11-25-2010, 01:27 PM  
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Jacko, there are folks here who are listening to what you have to say, and many also agree with your thoughts. I just hope you don't consider this a waste of time!
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Old 11-26-2010, 07:23 AM  
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Rochester, New York
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Sometimes you can reach people and sometimes you can't. I'm not sure if some folks refuse to contemplate what they think of as "normal" changing (it scares them too much to ponder it) or if they think this is all just tinfoil-hat conspiracy mongering.

Prepping for an unpredictable and unforeseen situation is actually very normal in our culture. Do you have home owner's insurance? Car insurance? A life insurance policy? Do you go to the doctor and dentist for check-ups? These are simple, prudent steps to take to mitigate potential problems down the road that may or may not ever happen. If they don't happen, you're out the insurance money. But not carrying insurance and running into a problem is often far more costly than paying for insurance which is why most people DO carry insurance.

Take it a step further. Is it impossible for a natural disaster or storm to knock out power? We've had storms up here where the grocery stores were without power -- the doors wouldn't even open and the registers were all down. If power is knocked out, isn't it possible it could be out for a few days? Sure. So, wouldn't it be smart to have items on hand at home so if going shopping is impossible, you and your family remain fed and comfortable?

Is it impossible for you to lose your job so that you would have to budget your savings very closely? Having food and other consumables stored away in your home (eg: soap, toothpaste, TP) means you won't need to spend money on those items and your savings will last longer.

There are plenty of events that could hit that are not apocalyptic but could make you very uncomfortable if you didn't take any steps to mitigate them.

It's no different from having insurance.

If you can't remain, warm (or cool), fed, clean and lacking nothing you normally have for just a few days without depending on someone or something else, what will your situation be if a worse problem hits?

We are living in interesting times -- things are happening in this country that have never happened here before. Specifically, our domestic monetary policies are downright scary when you look at what's going on. However, these things that are being done HAVE been done in other countries at other times, and the result was the collapse of their currency. Please take a look at the histories of Argentina and Zimbabwe for details.

I know of no one who understands the twisted Keynesian economic policies, the monetization of our debt, and the antics of "Helicopter Ben" and his quantitative easing, who can say with a straight face that the potential for U.S. currency collapse is 0. Wouldn't it make sense to pay attention now and take steps now? Either people will turn off Dancing With the Stars and Oprah for a while and begin taking steps to store their wealth in things that will hold value, or they will continue to ignore the problem. But with prices steadily rising, the longer the situation is ignored the more difficult it will be to take action.
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