View Single Post
Old 01-01-2017, 11:50 AM   #20
Senior Member
Join Date: Oct 2008
Location: Ultima Thule
Posts: 7,588
Likes: 422 (225 Posts)

Originally Posted by the tealady View Post
Ive been trying to warn family to move their money, but they seem slow to take me seriously.

I don't think there are any safe places imo. If you keep , money in your mattress, well, at least you have physical possession of it, far better than the bank, who can shut down anytime. They have negative interest rate I understand in some places. the bank actually charges you for holding your money. That one is so over the top.

They have confiscated gold and gold coins in the usa during the depression. They devalued it, then after they had it, pushed it back up to 35 dollars/oz. Some insiders made fortunes with that one. Nice eh?

They can come out tomorrow and declare the currency devalued to 50 cents on the dollar i they wanted to. I think this is behind the proposed NAU (North American Union) of USA, Canada & Mexico. Imagine, your held dollars devalued and replaced by the Amero. Giving the Mexicans and who knows who else all, your lifes savings and equity. Your home now worth half of what it was yesterday. Nice eh?

The greatest thing that governments can do is to default. There is nothing to stop the usa from saying "Fk you, we will not honor this trade deficit", or "we don't give a hoot about the galactic sized derivatives"

The government can make itself completely solvent or better overnight. There would be consequences of course in trade. But it is conceivable and doable. We have no power at all at what they could do, we can only speculate.

The greatest thing any president can do is abolish the Federal Reserve. Kennedy tried that by issuing silver certificates. He was given a one way ticket to Dallas for his effort to help the american people stop being debt slaves.
“Behold, I am sending you out as sheep in the midst of wolves, so be wise as serpents and innocent as doves."

Be kind, for everyone you meet is fighting a hard battle.

Last edited by ritchs; 01-01-2017 at 11:55 AM.
ritchs is offline   Reply With Quote