World Economic Collapse is imminent

[GiveMeAVowel]

Originally Posted By: Olas
Economics is purely notional given that currencies are fiat.
How can something which does not exist collapse?


Interesting point, and yes, global currencies and the US currency IS a fiat currency, so the gambling houses can make it worth anything they want, and the house always wins in the end.

The reason why the US stock market hasn't crashed is because the Plunge Protection Team has intervened multiple times since it was created, and of course most other countries have their own versions of that PPT.

 

[VeeDubb]

Fiat currency allows the central bank to control the money supply which gives them an extra policy lever. It is backed by the credibility of the government. If you are talking about a banana republic, yes, there would be serious potential inflation and bank runs. But in most developed countries this is not an issue. It's like saying "how can reputation matter" -- it doesn't "exist" since you can't touch it or feel it. Yet, it matters a helI of a lot in business.

It's funny that people who are anti-fiat typically have blind faith in gold. Gold is only valuable because people have "faith" that other people will place value on it. In itself, it has very little intrinsic utility.

 

[5170]

What's the definition of "imminent' ? This topic is 8 months old now.

 

[Kamele0N]

http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/

https://www.occrp.org/en/panamapapers/

 

[Drew99GT]

What's funny about people arguing about hard currency vs "fiat" currency is they typically miss the entire point of what money is: a socioeconomic unit of account. Nothing more, nothing less. It has no intrinsic value what so ever even when gold and silver are used. Money is nothing but a basic accounting system like tally sticks (carving notches on a wooden stick), shells, rocks etc. Or today, 0s and 1s in digital ledgers.

http://archive.lewrockwell.com/north/north772.html

 

[GiveMeAVowel]

Originally Posted By: VeeDubb
In itself, it has very little intrinsic utility.

Tell that to industry....

 

[VeeDubb]

Originally Posted By: GiveMeAVowel
Originally Posted By: VeeDubb
In itself, it has very little intrinsic utility.

Tell that to industry....


Fair point. Gold does have some industrial uses.

But let's be honest. Gold's price is not primarily driven by its industrial utility but by people looking to stash it in their bunkers as they prepare for Armageddon.

Price of steel (big industrial utility) -$50 ton.
Price of Gold - $1216 per ounce.

 

[Kamele0N]

http://www.nbcnews.com/storyline/panama-papers/why-are-americans-not-included-panama-papers-n551081

Quote:
One of the many remarkable things about the massive leak of documents known as the Panama Papers is what's so far been lacking.

Americans.

 

[Garak]

Could it be that the U.S. tax regime is much more friendly than that seen elsewhere? You don't want to see what it's like up here, for instance, in comparison. I'm surprised more Canadians weren't on the list, and those who were do not surprise me.

Of course, there were Americans on the list.

 

[GiveMeAVowel]

Originally Posted By: Garak


Of course, there were Americans on the list.


But the US mass media is NOT mentioning them, I have been monitoring and I haven't heard about ONE American on that list from the big corp media outlets here.

 

[HazardousGorilla]

Originally Posted By: VeeDubb
Originally Posted By: GiveMeAVowel
Originally Posted By: VeeDubb
In itself, it has very little intrinsic utility.

Tell that to industry....


Fair point. Gold does have some industrial uses.

But let's be honest. Gold's price is not primarily driven by its industrial utility but by people looking to stash it in their bunkers as they prepare for Armageddon.

Price of steel (big industrial utility) -$50 ton.
Price of Gold - $1216 per ounce.


Don't forget, also, silver!

 

[Garak]

Well, you may have to check some of the original source materials. There is a conspiracy, not quite like you think, though. Places that had "better" lists included Wikipedia, and you know what happens to data there. Anyone can edit it, and I'm sure there were several self-serving edits, and their list has changed since yesterday. The big news outlets aren't being conspiratorial. Unless they can have a story out in 30 seconds, it's not worth their time.

Interestingly, Nico Rosberg is on the list, but as someone who resides in Monaco and is a citizen there, that's a pretty big joke.

 

[Merkava_4]

BUMP! Just a reminder, the economy is supposed to collapse in less than 48 hours from now.

Google "May 28, 2016" or "Peter Schiff."

 

[Astro14]

Originally Posted By: zpinch
Boys and girls, with a major drop in the stock market a few days ago, there is more to come in the next couple months. Prepare yourself, buy Gold and/or silver, stock up on food, prepare for the worst. better safe than sorry.



Well...since this was posted in August 2014....and we've not seen zpinch on the forum for about six months, I think it's safe to say that he's no longer making this assertion...

 

[PR1955]

He is in his bunker , no internet

 

[linkbelt]

Originally Posted By: PR1955
He is in his bunker , no internet


LOL, I think I will just enjoy the weekend!

 

[GiveMeAVowel]

Originally Posted By: Astro14


Well...since this was posted in August 2014....and we've not seen zpinch on the forum for about six months, I think it's safe to say that he's no longer making this assertion...


Again the ordinary peon won't know the exact time those elite will crash the market. The house ALWAYS wins in the end.

 

[Garak]

You ever notice, though, that the "elite" can suffer disproportionately in a crash? It never matters to the poor.

 

[GiveMeAVowel]

Originally Posted By: Garak
You ever notice, though, that the "elite" can suffer disproportionately in a crash? It never matters to the poor.


I define the "elite" as the top .0001 percentile. No, they DON'T suffer at all! They control the market. But their actions do create all manner of suffering for the rest of us all the time to varying degrees.

 

[fdcg27]

Originally Posted By: GiveMeAVowel
Originally Posted By: Garak
You ever notice, though, that the "elite" can suffer disproportionately in a crash? It never matters to the poor.


I define the "elite" as the top .0001 percentile. No, they DON'T suffer at all! They control the market. But their actions do create all manner of suffering for the rest of us all the time to varying degrees.


Yeah, those elites are just cozying up in their luxury bunkers like Dr. Evil and have no better uses for their time and resources than to crash economies world-wide in order to create suffering for all of the rest of us.
Actually, there is such an elite. It's known as the ECB and the instrument it uses to inflict unending recession on most of Europe is called the Euro.
The Brits must be laughing loudly as they prepare to exercise their option to leave the undemocratic and unaccountable EU, which they are only able to do because they had the foresight to keep their own currency.
There is no exit strategy for other large nations like France, Italy and Spain.