I know I harp on this subject alot, but here I go again. The foundational fiat monetary substructure of the entire economy is stressed, what we are seeing it simply the symptoms of that stress. All fiat monetary systems reach a point that the economy can no longer sustain the debt built upon it over time, at that point it siphons off viability from economic growth and functions. Since all fiat money consist totally of debt, it is impossible for such a system to continue indefinitely. Most total fiat systems last around 40 years, we are now at year 37 going on 38. Everything assocaited with, built upon and dependent on fiat money will suffer the same fate as the money itself.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
Actually, in the next year we will see almost 1/3 of our population reaching into the SSI pool. That is a huge amount of people to burden SSI, especially since the SSI Trust Fund only consist of "special government securities", in other words UNMARKETABLE SECURITIES not worth the paper they are printed on.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
EXACTLY LIKE THOSE FEDERAL RESERVE NOTES IN YOUR BANK ACCOUNT.....NO DIFFERENCE, WHATSOEVER!
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
havn't we been on a fiat money system since 1913 when the federal reserve was created or are you taking into account the time in 1971 when nixon took us off the gold standard?
Nope...we were on what could be considered a partial fiat since 1933 when FDR debased the currency, confiscated gold and silver. The total fiat came about in 1971. Total Fiat is when the money is completely created through credit/debt, that's what we have had since 1971.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
from 1913 until 1933 when Commissar Roosevelt took us off the gold standard domestically, the FRN was required to have some gold backing, I believe 90%.
That is more or less correct, the FED, despite the rules, began as early as 1922 to monetize the debt. It created what is known today as the Open Market Committee, to cleaverly purchase Treasuries by "kiting" their checks even though it was expressly forbidden from doing so by the original Federal Reserve Act. It didn't take them long to talk Congress into approving these methods that would eventually lead to a total fiat monetary system.
It is truly amazing when you look at the chain of events that actually lead to the Great Contraction of 1929 and then the Great Depression during the 30s, all of which made it possible for FDR to achieve his Socialist ideology in this country.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
I think its much closer then 15 years! I would say 2 or 3 at the most! what he is talking about is the absolute bottom! as far as depression I think its closer!
I almost put my old eyes out as Betty Chestnut waved her wares!
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
Well, I wouldn't go that far, but it does remind me of playing dodge ball as a wee little one.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
I am growing tired sierahpbt ....
This is old news and you refuse to correct your own record.
I do not wish to pick a fight, but you making me lose interest.
WAHOR!!
http://www.dailypaul.com/...
correct what record? the
correct what record? the point being is this.. usually what this guy says come true! I guess you didn't get it did you?
as for me and my home, we shall worship the LORD
Jim Rogers
Is one of the lonely voices of sanity...
--------------------------------------
europe4ronpaul.blogspot.com
Hasta la libertad, siempre ;-)
I think Rodgers's time horizon is too long
At the current pace I see the collapse in 15 years or less. But what he says is very foreboding.
"Evil flourishes when good men do nothing."
—Edmund Burke
I know I harp on this
I know I harp on this subject alot, but here I go again. The foundational fiat monetary substructure of the entire economy is stressed, what we are seeing it simply the symptoms of that stress. All fiat monetary systems reach a point that the economy can no longer sustain the debt built upon it over time, at that point it siphons off viability from economic growth and functions. Since all fiat money consist totally of debt, it is impossible for such a system to continue indefinitely. Most total fiat systems last around 40 years, we are now at year 37 going on 38. Everything assocaited with, built upon and dependent on fiat money will suffer the same fate as the money itself.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
In 5 years we will see the piling-on of the baby boomers
this will add to the already massive debt then add to that compounding interest and it's a huge snowball.
"Evil flourishes when good men do nothing."
—Edmund Burke
Actually, in the next year
Actually, in the next year we will see almost 1/3 of our population reaching into the SSI pool. That is a huge amount of people to burden SSI, especially since the SSI Trust Fund only consist of "special government securities", in other words UNMARKETABLE SECURITIES not worth the paper they are printed on.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
They are just IOUs
"Evil flourishes when good men do nothing."
—Edmund Burke
EXACTLY LIKE THOSE FEDERAL
EXACTLY LIKE THOSE FEDERAL RESERVE NOTES IN YOUR BANK ACCOUNT.....NO DIFFERENCE, WHATSOEVER!
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
havn't we been on a fiat
havn't we been on a fiat money system since 1913 when the federal reserve was created or are you taking into account the time in 1971 when nixon took us off the gold standard?
as for me and my home, we shall worship the LORD
Nope...we were on what could
Nope...we were on what could be considered a partial fiat since 1933 when FDR debased the currency, confiscated gold and silver. The total fiat came about in 1971. Total Fiat is when the money is completely created through credit/debt, that's what we have had since 1971.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
additionally
from 1913 until 1933 when Commissar Roosevelt took us off the gold standard domestically, the FRN was required to have some gold backing, I believe 90%.
That is more or less
That is more or less correct, the FED, despite the rules, began as early as 1922 to monetize the debt. It created what is known today as the Open Market Committee, to cleaverly purchase Treasuries by "kiting" their checks even though it was expressly forbidden from doing so by the original Federal Reserve Act. It didn't take them long to talk Congress into approving these methods that would eventually lead to a total fiat monetary system.
It is truly amazing when you look at the chain of events that actually lead to the Great Contraction of 1929 and then the Great Depression during the 30s, all of which made it possible for FDR to achieve his Socialist ideology in this country.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
I understand! for me and
I understand!
for me and my home, we shall worship the LORD
http://www.dailypaul.com/...
http://www.dailypaul.com/...
We Live Under Such Well Crafted Illusions...
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
I think its much closer then
I think its much closer then 15 years! I would say 2 or 3 at the most! what he is talking about is the absolute bottom! as far as depression I think its closer!
as for me and my home, we shall worship the LORD
I almost put my old eyes out
I almost put my old eyes out as Betty Chestnut waved her wares!
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
Does it appeal to
your inner child and give a desire to return to breast feeding? It does me.
Well, I wouldn't go that
Well, I wouldn't go that far, but it does remind me of playing dodge ball as a wee little one.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
What's the deal with Betty Chestnut?
Is this a spoof site?
I think
I was hypnotized...
lol JS take your eyes off
lol JS take your eyes off betty and read below!
as for me and my home, we shall worship the LORD
great article-thanks
~peace
this one is important folks!
this one is important folks! good history lesson from Jim Rodgers!
as for me and my home, we shall worship the LORD