Earlier, Faber spoke about his view of the U.S. deficit situation. He expects the U.S. government to raise the debt ceiling, but doesn't seem Republicans and Democrats building a budget plan in which taxes are raised and spending cut, the real recipe for deficit reduction.
Faber also encouraged individuals, in a separate conversation, to be their own central bank and buy gold. He warns, however, not to hold it in the U.S., as the government might buy it like they did in the early 1900s.
2:30 We're in a contest for the ugliest currency; I don't think people are heavily position in euros. Most people still have 70-80% of their money in USD. Huge overhang of U.S. dollars globally. If people could sell their dollars and move into something they would believe in, they would. Gold and silver are the best currencies.
5:10 Right now, the U.S. dollar may rebound. The U.S. dollar will be in the future precisely its intrinsic value, namely zero.
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WoW, Really someone was working around one of the most deadly chemicals and got sick, really, like after 911 they were told not to wear respirators. What kind of dumbshit would ever listen to anyone on something so dangerous to their health as to not wear protection around dangerous chemicals, anyone who does not wear protection, no matter what anyone else says, deserves what they get, Period!
ReplyDeleteI am ready for 8 dollar gas
ReplyDeleteQuestion is ????
Are you !
My 2002 Ford F250 converted to run on either petrol or Natural gas; does just fine on the latter - yesterday I filled up
For $33 Dollars
It's time people woke the hell up
Yeah, you think an F250 running on natural gas is economical? It's kind of like running a Hummer with a 6 cylinder.
ReplyDeleteRead this:
Subsistence Crisis
http://www.gold-eagle.com/editorials_04/laird121104.html
The economy is about to collapse and our empty suit of a President is already campaigning for re-election. The Titanic is sinking and the media applauds his brilliant rearranging of the deck chairs.
ReplyDeleteThe economy tanked in 08 when bush was pres too, he did a good job of rearranging the deck chairs too, so obama had to fail. Obama has been a bad pres too, no matter who wins, they will always be for the nwo and rich corps, so this country is dead!
ReplyDeleteYou will see the demise of Amerika pick up speed in the coming months, not much time left now.
ReplyDeleteIf the government thinks they are gonna buy my gold and silver, like they did in the 1930's, all their gonna get from me is lead.
ReplyDeleteEven $10 gas is actually a bargain. Think about it. I can drive 40 miles on one gallon. Could you pay a rickshaw driver $10 to haul your ass 40 miles? Nope. I watched a doc called a Crude Awakening a couple of nights ago and it really woke me up. I thought the dollar collapse was bad. when we run out of oil, we're done.
ReplyDelete3:50 apples to apples I'm saving 40 bucks!
ReplyDeletemay not sound like much to you; but times 4 filliups per month - we're talikng about over 2 grand a year.
Imagine what would ahppen if America would wake up and decide to do the same thing?
Whoa ! No need to import 110/bbl oil !
Look mom - I have some spare money to spend downtown on that new table and chairs
Hey ! Mr. EPA - look - emmissions down 90%
What do we need gasoline to drive for? Once we are all unemployed we're all just going to sit around at home anyway playing Monopoly or something. Gas could then cost $50 a gallon and it wouldn't matter, there'd be so much of it just sitting around in gas stations.
ReplyDeleteMaybe that is the Republican plan to reduce the gasoline prices, God knows nobody in that party cares about creating jobs. Not that the other one is much better, they both suck, but the GOP seems to be on a mission right now to suck even more.
buy gold
ReplyDeletetell everyone to eat you cahoonies
youll be able to purchase stuff and no not everyone will be nokin your door down
life goes on also pray to god it wont be that bad
if you prepared it wont
buy a coal furnace, burn less fuell buy freeze dried food use your heads
6:36 , if everyone "became as smart" as you there would be nothing left to heat our homes. No offense, but we should all be driving much smaller vehicles instead of huge trucks and SUV's, hauling all seven children around in the car to go get a box of ring pops and do a little shopping. While you might be saving 2 grand a year, what difference will it make if you are spending say ten times that with sky-rocketing energy prices at some point?
ReplyDeleteKeep in mind the average propane conversion for a light duty vehicle runs between $4000 and $12,000. How long will it take you to get that back to break even? How much more could you be saving with a far smaller vehicle (or a bike)?
Every post you make on here is logged and stored by the NSA or Cia or Fbi, I don't know which, but look to the top of the page after you post it and you will see a number attached to every post.
ReplyDeleteGhost assets and inflationary paper monsters taking down the dollar financial system
ReplyDeleteThe GEAB economic analysis ,see above , and its generaly right predictions on how the economic debt crisis will unfold is as usual well worth the read.
GEAB predicts a necessary 30% devaluation of the dollar very soon!
The dollar value and its treasury bill backing is the last ultimate bubble in the dollar hegemony system.
The exchange value of dollars is now being toasted trillions of dollars are printed or digitally created "out of fresh air”.
”normal” inflationary money printing was accelerated for the bailout of a failed Ponzi capitalism.
If this printing of more debts to pay off old debts and losses of the finance sector together with Fed And Treasury counterfeiting US dollars to finance trillion dollars a year government deficit spending continues at this current rate ,the USA will soon resemble the old German Weimer Republic in its hyper-inflation stage.
But even the Fed cannot continue to print enough or the necessary trillions of dollars required to save the system without a complete inflationary destruction of the Fiat dollar paper .
The privately elite bankster owned Fed will try and avoid that fate.
The reality of that inflationary threat will all come to a head soon, perhaps to be solved by an attempt at a massive official or unofficial devaluation of the dollar ,in order to destroy the value of the trillions in old dollar denominated debt .
GEAB says:
"The crisis in US Treasury bonds, or how the US Federal Reserve reaches the "end of the road" which began in 1913 and must face up to its bankruptcy whatever accounting sleight of hand is chosen.... the US Dollar crisis, or how the jolts in the US currency that will characterize the ending of QE2 in the second quarter of 2011 will be the beginnings of a massive devaluation .
(around 30% in a few weeks).
Central banks, the global banking system, pension funds, multinationals, commodities, the US population, Dollar zone economies and/or dependent on trade with the United States (17) ... everyone structurally dependent on the US economy (of which the government, the Fed and the federal budget have become central components), assets denominated in dollars or commercial dollar transactions, will suffer the head on shock of 20 trillion in ghost assets purely and simply disappearing from their balance sheets, from their investments, and causing a major decline in their real incomes."
Note the reference to 20 trillion dollars ,repeat 20 TRILLIONS, in US 'ghost assets"
America had built a great Ponzi economy dependent on continuing foreign investments and on incomes and credit supply derived from those "ghost" or fictionally valued bubble economy assets .
Including trillions of dollars worth of dud fraudulent sub prime and other property bonds issued by the banksters .
Few of which in a now falling in value or deflationary housing and commercial property market are likely to deliver real world incomes in promised dividend returns ,or from expected capital gains from property in a rising property market to the investors .
The banksters first made trillions in profits but then demanded their losses be socialized by government to save their bankster run system. Colluding with their paid for political creatures of both major parties for a financial coup over the US treasury .
As a result, many of these worthless dud bonds have now been pawned at the central bank in return for loans financed by printing inflationary extra dollar paper by the Fed.
The trillions of dollars in "ghost assets” and their continual losses sooner or later must be valued at their real world market value.
In addition The trillions of outstanding derivative bets (contracts) made on the dud bonds losing future value as they did , will have to be paid out, as they were at AIG by being nationalized.
But who will bail out the TBTF banks again or the Fed itself this time ?
Okay, so propane has 25% less energy than regular gasoline, so you sacrifice a little in performane and mpg. The cost is slightly lower than gasoline, but not by much. And the price will be rising the more people begin to switch to this, as they are in europe. A few years ago the price per gallon in the US was over $4. So with the costs of conversion, upkeep (specialty mechanics) and headache of fillups, are you really saving much, especially if you are converting an average to heavy vehicle? The only real visible bonus here is how clean it burns, which is better for the environment. But dont fool yourself in thinking propane or natural gas will not go up in price as well.
ReplyDeleteDevaluation of the dollar by 30% would mean America and and Americans assets lock stock and gunbarrels and its housing values as well as dollar incomes from investments in exchange value ,purchasing power in the rest of the world would all be worth 3O% less ?
ReplyDeleteEven the value of your wages in buying imported goodies from China!
A nice little push towards a Third world like America with Austerity in full play.
And American high waged industry no longer has export orientated commodity wealth export goods to exchange for the value of its imports anyway ,once the credit supply dries up due to lack of confidence in the dollar or getting a good return from US property assets.
Even The incomes from copyright on micky mouse and micky mouse products like Windows do not all flow into Americans pockets in a free trade for capital world, but to the often international owners of the shares as registered in tax havens.
All this talk of multiple bucks to drive 40 miles to shop or go to and from work
ReplyDeleteetc cheaply ,is only the result of a lack of a decent comfortable public transport system, a result of the way the cities and suburban sprawl and highways of America etc were created to serve the profits of property speculators , the car industries and big oil combo.
A car is not considered a personal necessity in Tokyo for example with its massive efficient rail and bus systems. A simple plain bike might be used for local shopping.
The hummer driver of today in the USA like the drivers of cars with giant decorative space fins in the early sixties, are convinced that the car is simply an expression of their individualism and a display of personal wealth . Not of the reality of their individual needs for mobility in everday life
adjusted to the structures of the current material reality and suburban sprawl as necessity.
During the economic crisis caused by the collapse and plunder by the oligarchs
of the national assets of the state capitalist USSR the people were well served by the existence of a huge public transport system and by the fact that many people still had access to personal vegetable gardens or relatives in the country on farms .
Those conditions of life do not exist in America and the elite oligarchs are already
moving in for the kill by seizing the housing assets of millions .
But the to and fro to work travel is becoming unessesary for millions too.
The discarded underemployed and Steet people on food stamps without their old housing now overpopulating america ,are increasingly finding that old cars are good for housing ,even if they cannot afford gas .
They are still have faith in the american dream and high on the "Spirit of america" they know their future prosperity lies in just selecting the right messiah to deliver the goods and jobs again.
The current Messiah does not seem to be really up to sctatch in practice ,as a "left" sock puppet of the elite .
But in democratic America there is a two party "left"and "Right" system of hope that the next Messiah will deliver cheaper wars for oil for their cars .
What about the talking Wig Messiah next time ?
There are 3 calories in a blade of grass. If the average american consumed 100 blades of grass per meal from their suburban, fertilized, chemically soaked lawns this could be enough to sustain him for several months. The radiation content may prove unappetizing, but this will be a fact of life. When the lawns turn brown and die the average suburban american go then turn to eating dirt, clay, and mud pies.
ReplyDeleteNow if they brighten up a little and housing associations, if there are any left or they have not become nazi outposts and interment camps, become more lenient then people can stop mowing their lawns (at this point with manual non-gasoline-operated push-mowers) then wild vegetation will take root and people could actually start growing gardens. I am thinking watermelons and turnips could grow rather large and abundantly in a radiation laden garden. We must look at it as if the glass is half full. There is a silver lining in every situation.
A silver lining
ReplyDeleteand an economic turnup in every turnip.
Turnips grow really fast and were once part of the everday foodstuff of old england .
crops were circulated in the fields to freshen the soil turnips being a big favorite .
The japanese like horse radish.
the Irish loved spuds.
While the Germans and koreans stuck with boring old cabbages.
Luckily chily arrived in korea from the americas and koreans lived happily ever after on hot kimchee.
Americans are stuck on cheap corn derived foodstuffs as their staple diet on food stamps.
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