# Hyperinflation is Virtually Assured – John Williams



## UncleJoe

An interview with John Williams of shadowstats.com


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## machinist

John Williams is on target. I would take what he says as very good guidance for the future. Marc Faber is saying the same things, Peter Schiff, Jim Rogers, and others.

Check Jesse's Cafe today (it changes daily): http://jessescrossroadscafe.blogspot.com/

Quote:
"I should preface this by saying that politics is a dirty business, given the ways of the world. And most politicians are not admirable creatures close up, especially the current crop in the Western world. That is just how the struggle for money and power goes these days. But the quality of public servant, like the tide of freedom, ebbs and flows.

I think this revelation about Romney is important not because of American politics per se, but rather that Mr. Romney is truly emblematic of the spirit of the financialization of American business culture for the past thirty years.

He is the embodiment of Gordon Gekko. And a number of people will resonate to his message. It is an old story, might makes right, and the strong prey on the weak. We the fortunate have worked for what we have, and the unfortunate, after we are done with them, are a drag on us, a burden, losers, things which are to be ignored, used, and eventually eliminated.

As a reader so eloquently put it this morning:

Greedy sociopaths would rather be extremely rich in a suffering nation than modestly rich in a successful nation. The greater the misery, the greater their power, since power is the difference in wealth and influence between one person and another.

At the heart of wealth concentration and economic cannibalism are two simple pieces of tax policy: the interest expense deduction for non-productive activity, and the policy of taxing wages at much higher rates than capital gains and dividends. This is what breathes life into financialization.

Instead of viewing government as a failure, consider the possibility that it is a success. The question we need to ask is: "what is government actually trying to accomplish?"

If in economic policy he is a domestic form of economic hitman, in foreign policy, Romney is what used to be called The Ugly American."

That is NOT to say that Obama is a better candidate. He seems to aspire to completely destroy the economy with socialist measures. There are NO good candidates now, IMHO. We just get to choose the manner of our demise.


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## machinist

So, my mind immediately goes to the next step: 

What do we do to best assure our own futures? There are lots of good ideas toward that end here on the forum, but no cure-all for the overall picture. I think it has to crash hard before we have any chance to fix anything. Such are the lessons of history.


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## Elinor0987

UncleJoe said:


> An interview with John Williams of shadowstats.com


That's the interview that prompted me to start buying building materials. Once hyperinflation hits, resources will be scarce and the opportunity to buy them afterwards won't be there.


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## BillS

machinist said:


> John Williams is on target. I would take what he says as very good guidance for the future. Marc Faber is saying the same things, Peter Schiff, Jim Rogers, and others.
> 
> Check Jesse's Cafe today (it changes daily): http://jessescrossroadscafe.blogspot.com/
> 
> Quote:
> "I should preface this by saying that politics is a dirty business, given the ways of the world. And most politicians are not admirable creatures close up, especially the current crop in the Western world. That is just how the struggle for money and power goes these days. But the quality of public servant, like the tide of freedom, ebbs and flows.
> 
> I think this revelation about Romney is important not because of American politics per se, but rather that Mr. Romney is truly emblematic of the spirit of the financialization of American business culture for the past thirty years.
> 
> He is the embodiment of Gordon Gekko. And a number of people will resonate to his message. It is an old story, might makes right, and the strong prey on the weak. We the fortunate have worked for what we have, and the unfortunate, after we are done with them, are a drag on us, a burden, losers, things which are to be ignored, used, and eventually eliminated.
> 
> As a reader so eloquently put it this morning:
> 
> Greedy sociopaths would rather be extremely rich in a suffering nation than modestly rich in a successful nation. The greater the misery, the greater their power, since power is the difference in wealth and influence between one person and another.
> 
> At the heart of wealth concentration and economic cannibalism are two simple pieces of tax policy: the interest expense deduction for non-productive activity, and the policy of taxing wages at much higher rates than capital gains and dividends. This is what breathes life into financialization.
> 
> Instead of viewing government as a failure, consider the possibility that it is a success. The question we need to ask is: "what is government actually trying to accomplish?"
> 
> If in economic policy he is a domestic form of economic hitman, in foreign policy, Romney is what used to be called The Ugly American."
> 
> That is NOT to say that Obama is a better candidate. He seems to aspire to completely destroy the economy with socialist measures. There are NO good candidates now, IMHO. We just get to choose the manner of our demise.


I think you're demonizing achievement. Romney's success has nothing to do with the strong preying on the weak. That argument makes no sense whatsoever. That's what's wrong with this country: the idea that making a profit is wrong and the government needs to step in to prevent it.


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## BillS

Getting back to the video, yes, hyperinflation is virtually assured. I would take it a step further and say that hyperinflation is a 100% certainty. I think people like John Williams are privately much more pessimistic than what they're willing to say publicly. If I was the head of some financial group I'd hesitate to say that I expect hyperinflation in a matter of weeks. It would be better to hedge your bets and say it will come later so you don't look stupid if you're wrong.


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## machinist

Romney got his money as a "venture capitalist", aka, a leveraged buyout/hostile takeover artist, per Matt Taibbi:




!

Quote:
"DemocracyNow.org - A new article by reporter Matt Taibbi in Rolling Stone sheds new light on the origin of Republican presidential candidate Mitt Romney's fortune, revealing how Romney's former firm, Bain Capital, used private equity to raise money to conduct corporate raids. Taibbi writes: "What most voters don't know is the way Mitt Romney actually made his fortune: By borrowing vast sums of money that other people were forced to pay back. This is the plain, stark reality that has somehow eluded America's top political journalists for two consecutive presidential campaigns: Mitt Romney is one of the greatest and most irresponsible debt creators of all time. In the past few decades, in fact, Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth." "

Not my cup of tea. But then, no need to say anything about Obummer. His performance is out there for everyone to see for themselves. Not my cup of tea either.

No good candidates out there now. The incumbent represents socialism and big govt., and the challenger represents the financialization of the US---The 2 biggest things wrong at present. So we have a CHOICE here????

The so-called "election" is just a sideshow to keep us from paying attention to the schemes of the REAL powers in the country, that of the BIG money poeple.


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## Dawgbone

My 2 cents...

First will come crushing deflation as desparation causes the desparate to sell everything/anything they have just to survive - aka food and lodging (1-2years).

When all is sold and consumed, then hyper-inflation will occur among essential commodities.


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## machinist

Dawgbone,

Deflation, in the sense of scarce money supply (especially credit money), I'm sure will get worse. But the prices of commodities are already going up, and have been, particularly oil and, for different reasons, food. I don't think there is a "flation" word for it, but it is what we have now, only worse. 

So maybe you could say they are overlapping? The worst of all worlds, where money is scarce, but it keeps taking more of it to survive. The hot money from QE-to-infinity goes into commodity speculation, and never makes it down to us po' folks. One more step to impoverish the entire world and enrich the rich.


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## db2469

One wonders that with this new Fed plan for open-ended QE, maybe they can kick the can down the road long enough to delay the collapse a couple years or more...I could use the extra time..


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## Bobbb

machinist said:


> Quote:
> "DemocracyNow.org - A new article by reporter Matt Taibbi in Rolling Stone sheds new light on the origin of Republican presidential candidate Mitt Romney's fortune, revealing how Romney's former firm, Bain Capital, used private equity to raise money to conduct corporate raids. Taibbi writes: "What most voters don't know is the way Mitt Romney actually made his fortune: By borrowing vast sums of money that other people were forced to pay back.


Mistake #1: Relying on DemocracyNow to honestly analyze a situation.
Mistake #2: Relying on Matt Tiabi to honestly analyze a situation.

Notice Tiabbi's dishonest slight of hand to make Romney look irresponsible. Romeny and his ownership group borrow money. Tiabbi then pulls his sleight of hand and states that other people will have to pay back the loans. What he is implying is that employees will have to work to pay back the loans. That's not a true analysis of the situation. Whether there were loans or NOT, the employees would be working and the value that they create above what they are paid would go to the owners. Whether the owners put up the capital to fund the business via cash, via retained earnings, via in kind contributions or via debt financing, they still get the excess value created. So there is no difference here simply because the capital was borrowed. Lastly, it's not the employee's responsibility to pay back the loan, that responsibility lies with Romney and his Bain ownership group.

Tiabbi is a putz.


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## kejmack

The last QE will simply speed things up. Printing money leads to inflation and will price the rest of the world out of food. Weimar Republic and Zimbawe are two things that come to mind. It is going to be a disaster.

Oh, and, do you really consider Rolling Stone to be a serious news source? If so, I have a bridge to sell you.


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## invision

kejmack said:


> The last QE will simply speed things up. Printing money leads to inflation and will price the rest of the world out of food. Weimar Republic and Zimbawe are two things that come to mind. It is going to be a disaster.
> 
> Oh, and, do you really consider Rolling Stone to be a serious news source? If so, I have a bridge to sell you.


I actually think it may kick the can down the road a couple of years, UNLESS something else contributes to this mess... China/Japan, Iran/Israel, other middle east conflict, etc. It is definitely a scary and uncertain time we are living in right now. I know the FBI just stopped some kid from blowing up a bomb in Chicago, but I also wonder how many other idiots are out there right now planning the same thing in a different city - Atlanta, LA, NOLA, Dallas, etc.

Also agree, Rolling Stone a serious news source is like saying I read Playboy for the articles.


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## Woody

invision said:


> Also agree, Rolling Stone a serious news source is like saying I read Playboy for the articles.


Playboy has articles???


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## Tweto

Hyperinflation will happen, my biggest concern is when will it happen. The experts are as dumb as the rest of us on when it will start. Yes, it could be tomorrow or it could be 5 years from now.

Not all, but some of the experts are saying that hyperinflation will be preceded by deflation. Maybe, this will be the indicator that we need. If deflation happens then this would be a good time to stock-up. If there is no deflation then there will be no warning and we will go from standard inflation to hyperinflation in days.

The definition of hyperinflation is to much money chasing to few products.

Now, here is where I have a problem, after hyperinflation starts and considering that 80% of the people have little or no money because they have been tapping their savings and retirement accounts for the last 5 years to keep their bills paid, where does the money come from to feed hyperinflation. Obviously, hyperinflation will get some kick from the banks when they start loaning low interest money to the rich people. But, the majority of the people will not have the money to pay $30 for a loaf of bread and $20 for a gallon of gas. Since the store owners have to get their money to pay their suppliers, but the store owners can not sell their products because no one has the money. Does this situation lead to a complete failure of the system and a complete economic grinding to a stop causing more business closings and more people out of work?

Everybody is talking about hyperinflation, but I have not heard a detailed realistic plan for a recovery. If a new monetary system will be introduced, how will that happen? I have not heard one pundit or expert comment on how all this will happen.

These are just some random thoughts that have been flowing around in my head that have ended up as a semi-rant. sorry!


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## Elinor0987

Tweto said:


> Now, here is where I have a problem, after hyperinflation starts and considering that 80% of the people have little or no money because they have been tapping their savings and retirement accounts for the last 5 years to keep their bills paid, where does the money come from to feed hyperinflation.


It has been said that one of the likely precursors to hyperinflation is a run on the U.S. dollar. If enough of those foreign governments, businesses, and people suddenly lose confidence in their dollar holdings they will sell them quickly and replace it with something else. Once those dollars go back into circulation, that is where you could see hyperinflation because of too many dollars chasing too few goods.

Also, the federal reserve is now going to print money to buy mortgage securities. That money will be held by the banks and deposited into the federal reserve for a little while but some of it will hit the economy right away because they will use the money to speculate on commodities and stocks, which in turn will drive the prices up even higher. Eventually the banks will pull their money out of the federal reserve and circulate it into the economy through loans and even more speculating. This will all accelerate the rate at which the dollar is devalued and the speed at which hyperinflation hits.


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## machinist

Okay, so some of you don't like Rolling Stone, or Matt Taibbi.

Did anyone watch the other videos on the link to Jesse's Cafe? 










These videos from Mother Jones, are in the news this week. Romney apparently thought they cast him in a bad light and responded, rather weakly, I thought. The videos show what is apparently his REAL attitude about those who pay no taxes--that they don't matter.

I stand by my opinion of him. And, my opinion of how he got rich.

I hope nobody votes for him because they think he will do anything constructive for the economy. Looks to me like he is just another puppet of the big money people that have us on the road to hyperinflation. I conclude that no matter who wins the election, the end game for the economy is the same, as given by John Williams in the OP.


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## Bobbb

machinist said:


> The videos show what is apparently his REAL attitude about those who pay no taxes--that they don't matter.


Wow, you're striking out all over the place. He doesn't indicate that he doesn't care, he clearly makes the case that he can't reach these people with his message of self-reliance and weening themselves from the tit of government. These people will vote for Obama no matter what because like heroin addicts they're addicted to the welfare payments they get from government. No matter how much Romney tries to appeal to them, they're in Obama's pocket because Obama gives them money.

Good for Romney for stating what everyone seems to already know.


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## db2469

I don't see anything too shocking in what Romney said there...this has been a Republican position for a long time and it's true and people in the US need to hear the frank truth from their politicians for a change and face the realities of our crippling debt, etc...


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## db2469

Good questions Tweto...I would like it all explained as well....guess I'll keep searching for articles and videos that might shed some light..


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## machinist

Okay, nobody understood the videos the way I did. I'll let it rest. My only point was, that I don't see ANY politician being able, or even wanting to stop our decline bad enough to let the banks sink like they should. It is BANKERS debt and GOVERNMENT debt the Federal Reserve is trying to bail out. And they are all in it this together, IMHO.

Tweto asked: 
"Now, here is where I have a problem, after hyperinflation starts and considering that 80% of the people have little or no money because they have been tapping their savings and retirement accounts for the last 5 years to keep their bills paid, where does the money come from to feed hyperinflation. Obviously, hyperinflation will get some kick from the banks when they start loaning low interest money to the rich people. But, the majority of the people will not have the money to pay $30 for a loaf of bread and $20 for a gallon of gas. Since the store owners have to get their money to pay their suppliers, but the store owners can not sell their products because no one has the money. Does this situation lead to a complete failure of the system and a complete economic grinding to a stop causing more business closings and more people out of work?"

As I understand it, hyperinflation is not the same as lesser inflationary events, where it is actually, too much money chasing too few goods. Hyperinflation is a different animal, and is the result of a complete loss of confidence in the currency. It may be internal to the country, or externally imposed, say if other countries decided that we could not pay back our Treasury Bonds without "printing" the money, and decided to dump the bonds for whatever they could get. The price of those bonds would plummet, as has happened in Greece.

Greece isn't really 'there' yet, because of intervention by the EU and European Central Bank. It isn't a classic hyperinflationary case anyway, since Greece cannot "print" Euros without limit. Argentina was a better example, or notably, Zimbabwe or Weimar Gernmany where printing was the last resort. 

When NOBODY wants your currency, THEN you have hyperinflation. It isn't just about a "wage-price spiral". It is a different cause. The result of hyperinflation is that all the 'normal' economic axioms don't work any more, because everyone has lost trust in the currency, that is, there is ZERO demand for it and it becomes worthless. 

As I understand it, us poor people would be left on our own, and businesses fail utterly. Black markets ensue, barter, anything to try to meet people's needs, but the currency is lost. Greece has both black markets and barter going on at present, per a recent news video, in defiance of laws against it. Zimbabwe had people desperately panning for gold dust in the rivers to be able to buy food. 

That happens because there is no viable currency to do normal business.


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## Tweto

Machinist

I think you are correct about inflation vs hyperinflation being different animals.

I suppose the next question is what would be exact motivation for that first person, company, or bank to say "I won't take your dollar". If they have made the decision to refuse the dollar then there must be something else that they would want (gold, silver, etc.) . If they don't want something in place of the dollar, then for all practical purposes, they just closed their doors and went out of business.

Most other areas of the world there are 2 currencies easily available such as, in Europe, there is the euro and the dollar. In Japan there is the yen and the dollar, in Canada there is the US dollar and the Canadian dollar. Just about every where in the world it will be easy to say, I will only take one of the currencies. But here in the US, we only have one currency and if all of a sudden the dollar would not be excepted then company's are just going to go out of business. Gold or silver would not be a viable currency (at least not in the beginning) here in the US because to few of the consumers would not have any, or at least not enough to keep any one in business.

The only way I could see the dollar go into hyperinflation is at the first sign that the treasury is going to print new currency. Please correct me if you have another possibility.

Printing new currency raises all kinds of other questions about how does the government get the new currency into circulation and/or will there be a exchange rate?

Everything here is speculation, however the closer we can get to a reasonable perception will just help in the preps beforehand.


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## BillS

Tweto said:


> Hyperinflation will happen
> Now, here is where I have a problem, after hyperinflation starts and considering that 80% of the people have little or no money because they have been tapping their savings and retirement accounts for the last 5 years to keep their bills paid, where does the money come from to feed hyperinflation. Obviously, hyperinflation will get some kick from the banks when they start loaning low interest money to the rich people. But, the majority of the people will not have the money to pay $30 for a loaf of bread and $20 for a gallon of gas. Since the store owners have to get their money to pay their suppliers, but the store owners can not sell their products because no one has the money. Does this situation lead to a complete failure of the system and a complete economic grinding to a stop causing more business closings and more people out of work?
> 
> Everybody is talking about hyperinflation, but I have not heard a detailed realistic plan for a recovery. If a new monetary system will be introduced, how will that happen? I have not heard one pundit or expert comment on how all this will happen.
> 
> These are just some random thoughts that have been flowing around in my head that have ended up as a semi-rant. sorry!


Hyperinflation starts when other countries around the world dump the dollar. An estimated that 90% of the dollars in existence are overseas. They're held by foreign countries for use in foreign trade. They're part of the reserves of foreign central banks. All you need is one country to use all their dollars to buy commodities on the US market. That will cause a big drop in the dollar and other countries will follow until the dollar is worthless.

Yes, I think you're right. When a loaf of bread is $20, a gallon of gas is $40, and your electric bill is $2,000 then economy grinds to a halt. The electrical grid goes down. Absolute chaos erupts around the country.

The government could issue a new currency backed by gold. They would buy gold from the people. We'd have the new currency and they'd have the gold that backs it up. Most likely they'd buy that gold at a discount so they have money to work with. I don't think that happens until months after the collapse and most Americans are dead.


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## machinist

BillS,

Sounds right to me.

Tweto said, 
"The only way I could see the dollar go into hyperinflation is at the first sign that the treasury is going to print new currency."

Like BillS said, it will be one or more countries using up their dollars to buy something else, and it could be a progressive thing. Could be gold, commodities like oil or food, or maybe just raising the price for their goods in dollars. Like oil going up dramatically, then everything else. It could conceivably happen in a very short time, due to the super fast financial trading now. Some think it could be a matter of hours, as in the old movie "Rollover". That was a very real fear in 2008 when SOMEBODY (I never heard who or what country), began to take BIG money out of Money Market accounts in a matter of a few hours.

Here is a blended video of clips from the movie, interspersed with clips of a Congressman talking about actual 2008 events: 



 It was a very close thing, stopped only by panic action on the part of the Federal Reserve Bank, and raising the FDIC coverage limit to $250,000 on a single account. I believe that if it happens again, there won't be any stopping it. Dealing with such an event could well be the reasoning behind the Fed's announcement of QE without limits.

It could be some country dumping a lot of US Treasury Bonds that triggers a 'run' on the dollar. There are probably many possibilities that I don't know about.


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## invision

Bobbb said:


> Wow, you're striking out all over the place. He doesn't indicate that he doesn't care, he clearly makes the case that he can't reach these people with his message of self-reliance and weening themselves from the tit of government. These people will vote for Obama no matter what because like heroin addicts they're addicted to the welfare payments they get from government. No matter how much Romney tries to appeal to them, they're in Obama's pocket because Obama gives them money.
> 
> Good for Romney for stating what everyone seems to already know.


Omg Bobbb we agree!!! Wow never thought that would happen.


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## Dawgbone

machinist said:


> Dawgbone,
> 
> Deflation, in the sense of scarce money supply (especially credit money), I'm sure will get worse. But the prices of commodities are already going up, and have been, particularly oil and, for different reasons, food. I don't think there is a "flation" word for it, but it is what we have now, only worse.
> 
> So maybe you could say they are overlapping? The worst of all worlds, where money is scarce, but it keeps taking more of it to survive. The hot money from QE-to-infinity goes into commodity speculation, and never makes it down to us po' folks. One more step to impoverish the entire world and enrich the rich.


^^ I do think we're overlapping to some extent. History shows that a calamity (It could be anything but think today: Israel vs Iran)(or think current drought affecting corn/soy/poltry/beef etc) first causes shock, then fear (storing fuel/food, etc), and then followed by consumer response (think run on CA banks in 2008) which serve to drive demand even higher (longer lines at banks or gas lines in 73-74 & 9-11) which create further supply dislocation which further confirms fear and creates even further price increases among the essential commodity(s).

Because the commodity (let's use gas in this example) is both essential and price-elastic (price rises due to higher demand(fear) and/or shortage(drought/oil supply disruption), eventually consumers begin to tap liquid assets such as savings, IRAs, 401(k) assets (further driving the value of paper assets down - think bond/stock crash). Once the liquid assets are exhausted, they then begin to sell what the perceive to be non-essential assets (boats, rings, jewelry, gold, silver, etc - think Harleys and boats in 2009) to offset the dramatic price increase relative to their either static or falling personal income causing price deflation.

Accordingly the respective prices of these non-essential assets drop dramatically as there are more wanting to sell than want to buy (price defaltion). As desparation rises to purchase the essential commodity, other more essentail assets (think Greek homes on the Mediterrian) are then liquidated, repo-ed or abandoned (furniture, cars, homes) which also serves decrease their value (price deflation) of these more essential assets (also think US home values in 2009-11).

Meanwhile essential commodity prices continue to skyrocket due to market/supply dislocation along with affirmed fear of shortage create even higher demand which creates dramatic price inflation in a relatively short period of time (think inflation of current food prices).

Finally toss in the reduced purchased power of a debaised money supply caused by a sovereign nation printing money (US & EU) during a past and/or present desperately futile attempt to provide even more "emergency liquidity" (print more) to kick-start purchasing by already cash-strapped consumers and business whose sales have already plummeted and/or are feverishly deleveraging already existing debt having no discretionary income and having already restricted their respective spending to only essentials and you get wheelbarrow hyper-inflation until such time as bartering (money avoidance) emerges.

The key is to already own the essential commodity that is unique and can't be printed by a gov. At that time that's the "real" money.


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## Tweto

from BillS
The government could issue a new currency backed by gold. They would buy gold from the people. We'd have the new currency and they'd have the gold that backs it up. Most likely they'd buy that gold at a discount so they have money to work with. I don't think that happens until months after the collapse and most Americans are dead.

BillS

Let me go step by step on how this would work.

The dollar has crashed. The treasury wants to issue the new "Obama blue back buck" and they say it will be backed by gold. The treasury does not have enough gold so they advertise that the treasury will "buy" civilian held gold for 1000 Obama's. Then you say, 1000 Obamas, one ounce of gold is worth 2000 Obamas, so you do not sell, no one sells. After all, why would any one sell your gold for a new currency that no one has any confidence in. You have never used the Obama to buy anything and you are not even sure that the guy at the gas station will except it. So the government does not get the gold it needs to back its new currency and then the cycle starts all over again and the Obama blue back buck collapses within a year.

The economy has now completely crashed, only barter is working.

The treasury tries to issue new currency again. But this time all privately held gold has been made illegal and all gold has to be returned to the government or you will be charged with a felony to hold any gold. This time the new currency is excepted by the grocery store and the quick shop.

The other possibility is to back the new Obamas with another currency like the Peso and then buy the gold to back the new currency called the "Socialist silver back buck" with Pesos.

Just another mental exercise here.


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## machinist

Dawgbone said:
"The key is to already own the essential commodity that is unique and can't be printed by a gov. At that time that's the "real" money. "

+1,000!! 

That essential commodity can be many things. A lot of them could be safer than PM's, with a ravenous govt. seeking gold at some point. At least for us little folks, we need to concentrate on what we each will personally need. First the basics of food, water, shelter, and all that, but then diversify into hand tools and other productive assets. I'd rather have any leftover savings invested in shovels and hoes, seeds, tillers, and fuel, than to have it in something covetted by my govt. JMHO.


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## PrepN4Good

Tweto said:


> The dollar has crashed. The treasury wants to issue the new "*Obama blue back buck*" and they say it will be backed by gold. The treasury does not have enough gold so they advertise that the treasury will "buy" civilian held gold for 1000 Obama's. Then you say, 1000 Obamas, one ounce of gold is worth 2000 Obamas, so you do not sell, no one sells. After all, why would any one sell your gold for a new currency that no one has any confidence in. You have never used the Obama to buy anything and you are not even sure that the guy at the gas station will except it. So the government does not get the gold it needs to back its new currency and then the cycle starts all over again and the Obama blue back buck collapses within a year.


Oh man, I am just _soooo_ diggin' "the Obama" as the name of the new currency. 

Can we come up with a new symbol to replace the *$*? Like maybe an O with a slanted line thru it....?


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## machinist

*Endgame*

The Endgame is here, and time is short now, IMHO. Others agree.

John Embry, strategist for Sprott Asset Management, said in an interview:

"We started the money printing in Europe, then the US followed, and today Japan has now joined the counterfeiting spree. The Chinese are also in trouble. Their economy is far weaker than anybody acknowledges. So on a worldwide basis we are in the early stages of a global 'Weimar' event."

And further into the interview:
"...we are truly in the end game now. We are coming up to the fiscal cliff in the United States, there are no solutions in Europe, China's economy is imploding faster than anybody wants to acknowledge, and Japan is a train wreck. These are all signs that we have now entered into the end game."

Here's the whole interview: http://kingworldnews.com/kingworldne..._End_Game.html
_____________

Seems like Romney is aware of the problem (even if he's not able to fix it):
Quote:
"In response to an audience question:

Romney: [The] former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt that we're issuing-which they've been doing, the Fed's buying like three-quarters of the debt that America issues. He said, once that's over, he said we're going to have a failed Treasury auction, interest rates are going to have to go up. We're living in this borrowed fantasy world, where the government keeps on borrowing money. You know, we borrow this extra trillion a year, we wonder *who's loaning us the trillion? The Chinese aren't loaning us anymore. The Russians aren't loaning it to us anymore. So who's giving us the trillion? And the answer is we're just making it up*. The Federal Reserve is just taking it and saying, "Here, we're giving it." It's just made up money, and this does not augur well for our economic future. You know, some of these things are complex enough it's not easy for people to understand, but your point of saying, bankruptcy usually concentrates the mind. "

That came from here: 
http://www.zerohedge.com/news/what-mitt-romney-also-said-glimpse-endgame

So, if we look at history, and what happened in the Weimar event, people needed the basics for life, yet huge amounts of cash were not enough to get them. Better to have those needful things ahead of time.

My list goes something like this:
-Anything that I need that is IMPORTED.
-Common hardware.
-Hand tools. 
-Fuels for heating, cooking, and working the gardens. 
-Food preservation items, be it canning jars, a solar dehydrator, or a barn.
-Maintenance materials and supplies. Nails and screws, roofing, lumber, paint, motor oil and grease, filters, mechanic's tools, tires, and repair kits for everything. 
-Meat stores well on the hoof, if you have the pasture, etc., for that. No worries about power for the freezer, etc., and it is salable as-is. Not the best idea for me, with just an acre, but it works for folks I know.

That is abbreviated. I think it is past time to make your lists, check them twice, and get busy filling them. As a someone said here, What happens when value of money drops by 10 to one? Bread is $20 a loaf, gas is $40 a gallon, and the electric bill is $2,000 a month? Better have other ways to get what you need, or already have it.

Yeah, I'm ready to freak out.


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## UncleJoe

I've removed all the senseless bickering. Let's leave it that way and play nice please.


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