AvidFan Posted February 5, 2010 Share Posted February 5, 2010 http://rt.com/Business/2010-02-05/mark-faber-usa-default.html Have a happy weekend Quote Link to comment Share on other sites More sharing options...
winkie Posted February 5, 2010 Share Posted February 5, 2010 http://rt.com/Business/2010-02-05/mark-faber-usa-default.html Have a happy weekend I haven't read the link, but it wouldn't surprise me.....just goes to show what they think of the value of money. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted February 5, 2010 Share Posted February 5, 2010 why bother? why not just default today? Quote Link to comment Share on other sites More sharing options...
okaycuckoo Posted February 5, 2010 Share Posted February 5, 2010 He didn't mention the UK. Quote Link to comment Share on other sites More sharing options...
winkie Posted February 5, 2010 Share Posted February 5, 2010 (edited) why bother? why not just default today? I would think we have not yet reached the point of no return....as they say there is always hope. Edited February 5, 2010 by winkie Quote Link to comment Share on other sites More sharing options...
yelims Posted February 5, 2010 Share Posted February 5, 2010 (edited) why bother? why not just default today? pfft so shortsighted why default now when the chinese can continue destroying their people and environment and continue sending us cheap goods in exchange for worthless paper once they cop onto the scam > then default Edited February 5, 2010 by yelims Quote Link to comment Share on other sites More sharing options...
scepticus Posted February 5, 2010 Share Posted February 5, 2010 http://rt.com/Business/2010-02-05/mark-faber-usa-default.html Have a happy weekend marc faber is the financial media equivalent of injin. turn him round, pull the cord and he always says the same thing - printy printy bang bang! yes marc, we know. Quote Link to comment Share on other sites More sharing options...
yelims Posted February 5, 2010 Share Posted February 5, 2010 marc faber is the financial media equivalent of injin. turn him round, pull the cord and he always says the same thing - printy printy bang bang! yes marc, we know. i dont like Injin but hes onto something at times printing paper (hell they dont even bother to do that either now at all) or adding digits to computer screen will only work while people "believe" in the unit of exchange once confidence is lost then thats it, just ask the zimbabweans about it Quote Link to comment Share on other sites More sharing options...
IRULETHEWORLD Posted February 5, 2010 Share Posted February 5, 2010 i dont like Injin but hes onto something at times printing paper (hell they dont even bother to do that either now at all) or adding digits to computer screen will only work while people "believe" in the unit of exchange once confidence is lost then thats it, just ask the zimbabweans about it they should have printed more Quote Link to comment Share on other sites More sharing options...
yelims Posted February 5, 2010 Share Posted February 5, 2010 they should have printed more they should have moved onto scientific notation Quote Link to comment Share on other sites More sharing options...
Injin Posted February 5, 2010 Share Posted February 5, 2010 it's a pretty easy thing to work out, frankly. 1) Politicians are cowardly lying shitheads 2) Printing buys time 3) The majority of people want printing 4) Democracy is great, isn't it? Quote Link to comment Share on other sites More sharing options...
winkie Posted February 5, 2010 Share Posted February 5, 2010 it's a pretty easy thing to work out, frankly. 1) Politicians are cowardly lying shitheads 2) Printing buys time 3) The majority of people want printing 4) Democracy is great, isn't it? Got it in one....or rather in four. Quote Link to comment Share on other sites More sharing options...
Abstra Posted February 5, 2010 Share Posted February 5, 2010 http://rt.com/Business/2010-02-05/mark-faber-usa-default.html Have a happy weekend He's an optomist. 10 years. I give it 3 years. Quote Link to comment Share on other sites More sharing options...
Injin Posted February 5, 2010 Share Posted February 5, 2010 He's an optomist. 10 years. I give it 3 years. Sooner. The closer it gets, the closer it gets. Quote Link to comment Share on other sites More sharing options...
Zzzzzzzzzzzzzzzzzzzzzzzzzz Posted February 5, 2010 Share Posted February 5, 2010 (edited) Hmmmm. More like 3 months - and only then if they're bloody lucky! http://ftalphaville.ft.com/blog/2010/02/05/142651/next-up-for-europe-covered-bond-catastrophe/ Edited February 5, 2010 by gruffydd Quote Link to comment Share on other sites More sharing options...
scottbeard Posted February 5, 2010 Share Posted February 5, 2010 Sooner. The closer it gets, the closer it gets. Just curious what you see as smart financial behaviour now if paper cash is to become worthless? Buy a house? Buy gold? The smart non-financial behaviour seems to be "back to basics": get fit and stay healthy, maintain a close network of family and friends. Quote Link to comment Share on other sites More sharing options...
tomwatkins Posted February 5, 2010 Share Posted February 5, 2010 Just curious what you see as smart financial behaviour now if paper cash is to become worthless? Buy a house? Buy gold? The smart non-financial behaviour seems to be "back to basics": get fit and stay healthy, maintain a close network of family and friends. Get out the Monoploy board and have fun with more pretend money. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 5, 2010 Share Posted February 5, 2010 it's a pretty easy thing to work out, frankly. 1) Politicians are cowardly lying shitheads 2) Printing buys time 3) The majority of people want printing 4) Democracy is great, isn't it? Yep, if you tell the people happy clappy bo11ocks you'll get voted in. Quote Link to comment Share on other sites More sharing options...
Injin Posted February 5, 2010 Share Posted February 5, 2010 Just curious what you see as smart financial behaviour now if paper cash is to become worthless? Buy a house? Buy gold? The smart non-financial behaviour seems to be "back to basics": get fit and stay healthy, maintain a close network of family and friends. http://www.housepricecrash.co.uk/forum/index.php?showtopic=73876&st=0 Posted 12 April 2008 - 03:03 PM It's becoming obvious now that the western states cannot fund themselves and are going to financially collapse over the next few years. This means they are going to shrink in size, causing all kinds of trouble - layoffs, riots, disruptions. Will hospitals fail, will the army not get paid, who will put out fires....who knows? What is certain is that something has to give. It's not a good time to be working for the public sector, that's for sure. The purpose of this thread is to have a look see at positive things you can do to plan ahead for you and yours. Barring a dictatorship of some kind, this will be needed because all kinds of stuff will still need doing and there are even chances to make a few quid/euros/ounces. With a dictatorship it will still need doing but idiots with firearms won't let you .Here are a few thoughts. 1) Get healthy and fit. 2) Use the NHS while it's still around. 3) Download copies of stuff you find useful. 4) Study other recent collapses - Argentina, Russia for example 5) Have some stored wealth - "yellow stuff" 6) Move nearer (reliable) friends and family. 7) Out of cities, out of countryside, into market towns. Cities to much potential trouble, countryside to few people to be safe. Balance is key here. 8) Stash of food. 9) Get some time off while you still can enjoy it. I got more but it's your turn. Quote Link to comment Share on other sites More sharing options...
scepticus Posted February 5, 2010 Share Posted February 5, 2010 8) Stash of food. Hope you don't mind me asking, but how long is your stash good for? And what about heating and cooking fuel? I've kept a stash since the before flu scare. genuine question : I'd like to think we can talk stash strategy without reference to other disagreements. interesting meds don't feature on your list. They should be higher IMO. Quote Link to comment Share on other sites More sharing options...
winkie Posted February 5, 2010 Share Posted February 5, 2010 http://www.housepricecrash.co.uk/forum/index.php?showtopic=73876&st=0 Posted 12 April 2008 - 03:03 PM It's becoming obvious now that the western states cannot fund themselves and are going to financially collapse over the next few years. This means they are going to shrink in size, causing all kinds of trouble - layoffs, riots, disruptions. Will hospitals fail, will the army not get paid, who will put out fires....who knows? What is certain is that something has to give. It's not a good time to be working for the public sector, that's for sure. The purpose of this thread is to have a look see at positive things you can do to plan ahead for you and yours. Barring a dictatorship of some kind, this will be needed because all kinds of stuff will still need doing and there are even chances to make a few quid/euros/ounces. With a dictatorship it will still need doing but idiots with firearms won't let you .Here are a few thoughts. 1) Get healthy and fit. 2) Use the NHS while it's still around. 3) Download copies of stuff you find useful. 4) Study other recent collapses - Argentina, Russia for example 5) Have some stored wealth - "yellow stuff" 6) Move nearer (reliable) friends and family. 7) Out of cities, out of countryside, into market towns. Cities to much potential trouble, countryside to few people to be safe. Balance is key here. 8) Stash of food. 9) Get some time off while you still can enjoy it. I got more but it's your turn. 10) See you have some good fertile land to grow your food. 11) See that you are not far from a railway station. 12) See that you have a chimney to burn your fire. 13) See that you have a close knit family and community around you. 14) See that you have good access to fresh water. 15) See that you do not live on a flood plain. 16) See that you do what you want to do...while you are fit and healthy and before you die. Quote Link to comment Share on other sites More sharing options...
Injin Posted February 5, 2010 Share Posted February 5, 2010 Hope you don't mind me asking, but how long is your stash good for? And what about heating and cooking fuel? I've kept a stash since the before flu scare. Just rotate your stuff, easy to do and you'll always have back up. It's a good idea anyway, there are all kinds of "normal" things that can disrupt food supplies and with our "just in time" systems....... genuine question : I'd like to think we can talk stash strategy without reference to other disagreements. interesting meds don't feature on your list. They should be higher IMO. Why? Quote Link to comment Share on other sites More sharing options...
GrillsBears Posted February 5, 2010 Share Posted February 5, 2010 10) See you have some good fertile land to grow your food. 11) See that you are not far from a railway station. 12) See that you have a chimney to burn your fire. 13) See that you have a close knit family and community around you. 14) See that you have good access to fresh water. 15) See that you do not live on a flood plain. 16) See that you do what you want to do...while you are fit and healthy and before you die. 16... yes it is easier to do it that way round. Quote Link to comment Share on other sites More sharing options...
scepticus Posted February 5, 2010 Share Posted February 5, 2010 Just rotate your stuff, easy to do and you'll always have back up. It's a good idea anyway, there are all kinds of "normal" things that can disrupt food supplies and with our "just in time" systems....... yeah, but how long would you last on anything resembling normal rations? We keep a stock and rotate, we have eaten our stash many times over. what size buffer? Quote Link to comment Share on other sites More sharing options...
scepticus Posted February 5, 2010 Share Posted February 5, 2010 Why? what a silly question. Do you even have a basic medical textbook? If you had kids, which I am 99% certain you do not, you'd understand. Quote Link to comment Share on other sites More sharing options...
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