Topic: Catastrophic Meltdown Coming to America - Doug Casey (Read 1590 times)

Where is it? It's happening. Look at EUR, that is USD future. The difference is USD can get away with shitting imaginary money and everyone will accepting it, but that cannot go on forever.

USD has crashed against BTC for thousands of times, and this is just a beginning. Everything's value drops together with USD does not make the loss go away

Another useless prediction. If you can't provide a date, time, some actionable information there is no purpose in your prediction. It's not even a prediction, it's nonsense FUD. People on BCT have been predicting a crisis and crash for the past 3 years, where is it?

I'm afraid that nothing would happen, the trick has been done, banks successfully exchanged their useless MBS into cashes and now they are sitting on mountains of cashes that should have been added for the future 30 years. There will never be a liquidity crisis for decades, a market crash is very unlikely, and when it crashes, banks will immediately release some part of those cashes to push the price back, so much for price stability of assets

The only risk is the value of their cash might crash due to loss of confidence in fiat money (due to widely spread knowledge of banking scam, or alternative currency like bitcoin), but that is still too early, not one in a million understand banks' tricks. Even those widely spread videos like "Money as debt" serials and "The biggest scam in the history of mankind" does not clearly make people understand the double spending nature of modern money creation

Gold was confiscated in 1933 (you had to sell it the government for $20.67 per ounce and it was then revalued to $35 and ounce) and it was illegal for US citizens to own gold until 1975.  So it is not like it cannot be done.  See: http://en.wikipedia.org/wiki/Gold_Reserve_Act

Having said that, I disagree with the core thesis.  The money printing has not led to inflation, so clearly something else needs to happen.

I only really see staying out of debt as a certain point that will help when he system starts to go down.
Growing your own food and having a way to get clean water seems more important that having gold, to me.

I personally think the system will fail but there won't be a meltdown, in the case I foresee, I think gold is a great investment, but it will be a scary ride, I am not convinced that the western governments will allow gold's price to rise naturally as that will help the BRICS too much.

...

Doug Casey gets a lot of things wrong, not understood by many in the Bear Camp (I am a proud member).  Casey is capo of a community near Cafayete, Argentina for Libertarians.  I do not know how that is working out, but I would not go there.  Argentina?  Hey, if I had family there, well OK.

Nonetheless, people concerned about a Great Depression v. 2 would do well to read up on what Casey and others would say:

-- stay out of debt
-- stay in shape, eat healthy
-- buy & hold gold and other hard assets
-- be prepared to the extent that you want or feel is necessary
-- educate yourself (gain skills)

There are many other suggestions, too many!  The whole "Preparation" subject is quite complex.  Do you prepare for the End of the World (Mad Max)?  Takes time & money.  Not to mention, married/family guys might have trouble with that...

The actual Hague will certainly officially start it is first Bitcoin Boulevard. A avenue that will contains typically pubs along with eating places in which each business need Bitcoin. It is also the place where the very first Bitcoin ATM within the Netherlands can be found.testking 642-998

Gold is a hoarding paradigm which implodes the economy. Educate yourself:

https://bitcointalksearch.org/topic/m.6641831

https://bitcointalksearch.org/topic/m.3931705

https://bitcointalksearch.org/topic/m.6348706

https://bitcointalksearch.org/topic/m.6305753

whats this mean. You can't print gold. They can try to confiscate your gold, but if they did that at the present there'd be a huge backlash. I almost hope they try it because suddenly all libertarians will be proved right, that government spending & printing money literally is the same thing as confiscation.

Gold does not prevent assets being bought by printed money, even gold itself could be bought by printed money. This is a ownership loophole in money creation

Got gold?

http://usawatchdog.com/catastrophic-meltdown-coming-to-america-doug-casey/

"The problem is all the money they are printing is coming out of a financial fire hose at the Federal Reserve.  The rich guys are where the fire hose is, and the little people are just getting some dribs and drabs.  This is why the country is becoming polarized, where the rich are becoming richer and the poor are becoming poorer.  It’s exactly because of these government actions that are incredibly stupid. . . It’s just bailing out the rich.  The prognosis is extremely grim.  There’s no way out.”


-------------------------------------------------------------------------------
Actually this game of borrowing new money to pay back the old debt can go on forever, as long as government can borrow more money from the FED, and FED can print as much as they want

But during this process, FED bought more and more assets through money printing, and eventually they own almost half of the asset in this country through money printing, because of this ownership loophole (they own all the money they printed)

That is indeed a very grim future: Under a gold standard, in order to claim the ownership of newly created money, banks must pay some thing valuable in exchange for gold from gold miners, so they are just like any other business doing fair trading. But now, they can just print money and buy everything they want, and the deeper the crisis, the more they buy

The sad thing is, even if you know this is happening clearly under sunlight, you can't do anything about it, they already have the owership of those assets and it is protected by law