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U.S. Debt

Discussion in 'BlackHat Lounge' started by Chronos, Oct 3, 2010.

  1. Chronos

    Chronos Junior Member

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    • Thanks Thanks x 1
  2. deathclick

    deathclick Junior Member

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    I think it is a good idea to keep some gold as a hedge against US currency debasement.
     
  3. outsidethesquare

    outsidethesquare Regular Member

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    There was a thread about this yesterday.

    You obviously don't understand fractional reserve banking. Money is created from debt as without debt there is no money because there is no lawful money in circulation backed by anything of value anymore. This cartoon should simplify it for you: http://www.youtube.com/watch?v=vVkFb26u9g8
    http://www.youtube.com/watch?v=sanOXoWl0kc&feature=related
    http://www.youtube.com/watch?v=kTv1fo6sKmo&feature=related
    http://www.youtube.com/watch?v=3qicabStQkc&feature=related
    http://www.youtube.com/watch?v=7kpSbkaD4tM&feature=related
     
  4. david wright

    david wright Regular Member

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    The U.S is heading towards third world nation status within 15-20 years. The amount of debt we have cannot be fixed it's only a matter of time.

    In fact it might not take that long. Another 911 or Katrina or huge disaster could speed up the total crash of the economy.
     
  5. teeniegenie

    teeniegenie Supreme Member

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    Gold won't do you any good. No one is going to be lugging gold around if the US falls apart. Food, water and shelter (and a good gun with some ammo) will be what's valuable.
     
  6. 8bitsource

    8bitsource Registered Member

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    This is totally true.

    However, you can't hunt without a license, you have to pay another human
    to feed yourself. Same with fishing.

    As for land, you can't own land without paying property tax.

    No money, no food
    No money, no shelter
    No money, no water

    I won't be surprised when they require a license to grow vegetables.

    The monetary system = slavery.

    Sure you can stock up on food and water, and hide out, but won't last long.

    Owning Gold is a Great way to hold your value. But I have a theory most
    people don't like to hear.

    When the dollar collapses, or the world collapses, and the monetary system
    is rebooted with a new currency, I have this feeling they won't be accepting
    precious metals to transfer into the new currency. LOL
     
  7. AgentZero

    AgentZero Jr. VIP Jr. VIP Premium Member

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    US isn't that bad if your comparing DEBT TO GDP.
     
  8. Monrox

    Monrox Power Member

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    Why do you care so much? If the currecy crashes there will be hyperinflation, people will start trading in goods for a bit until a new currency gets stable. It happened to Turkey a while ago, then to Germany, then to all the excommunist countries in Eastern Europe. The question is, will we rebuild the economy, simply ignoring the hyperinflation like Germany did or are we going to let everything sink like Eastern Europe did.

    Not to forget that the said debt is in $ US, i.e. on paper. In this regard it could actually be benefical to let hyperinfaltion happen and unload tons of paper on China. Gold will remain stable in this scenario as it is of limited quantity (not like paper).

    Also, people seem to forget that financial vehicles are nothing more than a compacted human labor storage. They have nothing to do with demand, supply and the rest of the crap economists are speweing in order to feed the family going on and on about hollow theories. When I need a car for example I will work either for a car or for something that can get me a car (money). The problem is, bartering in goods is inefficient from a logistical perspective. But when all else fails we're back to it for the time being and all is good again.
     
  9. en.smartis

    en.smartis Jr. VIP Jr. VIP Premium Member

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  10. greentitanium

    greentitanium Senior Member

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    Not sure the point of this thread but...
    Where were we with Clinton?
    G.W. ??? <~~ cant believe people still like this guy.
    he let his friends steal, then hock, the united states.
    AND PEOPLE WANT HIM BACK. Genius.

    this is the truth - 1/3 of americans are out right plain retarded.
    but that still leaves 2/3's
    these 1/3 people, in 2 years, will be voting for one of the dumbest people i have ever heard speak words - Palin.

    you think the US is bad now? imagine the US after 4 years of Palin