Friday, September 12, 2008

And I thought the Bears feared a re-run of the Great Depression!

Mortgage Failures Will Drive Gold And Silver Buying

Resident economics correspondent to the Alex Jones Show discusses the background to and implications of Freddy and Fanny nationalisation. "In order to understand what is transpiring in today’s financial world you have to understand financial history. What you are seeing and experiencing has happened many times in the last thousand years. The upheaval we are in today could well be as bad if not worse than those of the collapse of the Lombard System in 1348 and the fall of the Hanseatic League in the 1600s. The current debt-based, fiat-money global economy is in the process of collapse and accompanying manipulation will soon come to an end. No fiat currency has ever survived and when it does it will be catastrophic." Oh boy!

Posted by planning4acrash @ 11:56 PM (648 views)
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5 thoughts on “And I thought the Bears feared a re-run of the Great Depression!

  • I got as far as the words “Alex Jones” and stopped reading. I don’t know how you can read this stuff.

    The tone of the language is shamelessly aimed at people with short attention spans. Block capitals and italic emphasis are commonly found in tabloids; this ensures the dimwits who read this stuff don’t need to engage too many brain-cells to understand it.

    There might be a logical argument buried in there somewhere, but the writing style fails to reveal it. Do your brain a favour, go out and buy the FT Weekend. If you’re a slow reader like I am it will last you all weekend.

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  • Don’t know who Alex Jones is…maybe it’s a British thing which we don’t see in Canada. Whoever he is the point made is that manufacturing money and “wealth” out of thin air as is currently being done in the US cannot and will not last. Such currency manipulation has not survived in the past and it will not in the future. Any serious student of history knows it. What we are seeing is the collapse of the US dollar. When a house doubles in value with nothing of consequence being done to it we are not “wealthier” we are the recipients of fiat money inflation. The ONLY way a house should really increase in value is if it has actual work done to improve it. Otherwise it is all as fake.

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  • planning4acrash says:

    You may be right Drewster. But I find the frank, unpolitically correct, and no nonsense description refreshing. The article goes into depth about the toxic financial waste and this chap, at 75yrs old has many decades of experience that is often lacking from younger commentators. I love the way that this guy gets animated. People should be pissed off about what’s going on!

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  • little professor says:

    Well said drewster!

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  • p4ac,

    Let’s take a look at this guy’s track record. I’ve dug up an article of his from five years ago, September 2003:

    Predictions of Canada / US currency merging
    “Not long ago we predicted the Canadian dollar would be merged with the US dollar. That move was upset by the resignation of Finance Minister Paul Martin. We also said the exchange would be at C$0.75 or higher. The loonie has reached that level and looks like it is going higher. Mr. Martin is out of office, but looks to be a lead-pipe cinch to be the next PM. We believe one of his first moves will be to merge the two currencies.”

    Now let’s look at what actually happened. Paul Martin did indeed become Prime Minister of Canada in late 2003, an office which he held until 2006. At no point in that period did the US and Canadian currencies merge. There is still no sign of that ever happening.

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