From ForexFactory to myFXbook
Jul 27, 2011 at 09:52
(edited Jul 27, 2011 at 09:54)
I was thinking about this last video and I don't get their point. They blame the FED for messing up the economy and they want the government to print 'debt free money' so we pay no interest to the bankers.
Thats all beautiful and nice theoretically.
Now if they really get what they want we will suddenly find the power of printing money in the hands of people like Barney Frank.
Do you really want that?
I understand that the FED is after their own interest not yours or mine but let me ask again.
Is the congress any better?
Abolishing the FED would just give it another name and maybe form. The crooks will still be behind the curtain manipulating the new institution.
The problem does not reside on who prints the money, or how good or bad they do their job. The problem is with the human greed.
Unless there is a revolution and they change the way politicians are elected, and make them be accountable for their promises, and enforce on them some serious liabilities when they screw up nothing will change.
Thats all beautiful and nice theoretically.
Now if they really get what they want we will suddenly find the power of printing money in the hands of people like Barney Frank.
Do you really want that?
I understand that the FED is after their own interest not yours or mine but let me ask again.
Is the congress any better?
Abolishing the FED would just give it another name and maybe form. The crooks will still be behind the curtain manipulating the new institution.
The problem does not reside on who prints the money, or how good or bad they do their job. The problem is with the human greed.
Unless there is a revolution and they change the way politicians are elected, and make them be accountable for their promises, and enforce on them some serious liabilities when they screw up nothing will change.
Forex or bust!
Member Since Jan 14, 2010
556 posts
Jul 27, 2011 at 09:53
TheOracle posted:
I kinda agree with you Zero. this crisis could escalate and bring the end of the world with it. Lets see 😁
I believe the worst is already behind us, but I maybe wrong..
forex_trader_28881
Member Since Feb 07, 2011
724 posts
Jul 27, 2011 at 13:18
Very wrong James.
We're heading for a crack up boom: https://mises.org/daily/4016
The US lifestyle just isn't sustainable. Jim Rogers was saying on BBC the other day no matter how much money you have it won't be able to buy you food, in the next few years. Not decades away, 5 years or so.
QE 1, QE 2.....
This is not new territory. I say again, in the 70's gold was $800 and ounce, the adjusted equivalent today is $3000 an ounce. We haven't even begun mate....
We're heading for a crack up boom: https://mises.org/daily/4016
The US lifestyle just isn't sustainable. Jim Rogers was saying on BBC the other day no matter how much money you have it won't be able to buy you food, in the next few years. Not decades away, 5 years or so.
QE 1, QE 2.....
This is not new territory. I say again, in the 70's gold was $800 and ounce, the adjusted equivalent today is $3000 an ounce. We haven't even begun mate....
Member Since Jan 14, 2010
556 posts
Jul 27, 2011 at 13:40
Interesting article.
So why haven't the bubble burst yet? Is it because the US government are trying very hard to damage control the situation?
So why haven't the bubble burst yet? Is it because the US government are trying very hard to damage control the situation?
forex_trader_28881
Member Since Feb 07, 2011
724 posts
Jul 27, 2011 at 13:59
They don't even know what's coming. New generation. Just haven't had nothing to eat. That's why we have companies with patented seeds (read food supply) and water is privately owned.
I mean when is this deb ceiling raising event? On debt that there is no hope of repaying? US will default. Question is when and how....
US government is running a Ponzi. It will fold, soon as no one buys the debt. And I think you can start counting China out.
I mean when is this deb ceiling raising event? On debt that there is no hope of repaying? US will default. Question is when and how....
US government is running a Ponzi. It will fold, soon as no one buys the debt. And I think you can start counting China out.
forex_trader_28881
Member Since Feb 07, 2011
724 posts
Jul 27, 2011 at 14:00
Let me see if I can find that interview for you.....
forex_trader_28881
Member Since Feb 07, 2011
724 posts
Jul 27, 2011 at 14:01
Jul 27, 2011 at 16:27
I believe we are around the middle of this crisis. One more leg down than we go to a long recovery. Sort of what happened with Japan.
The first millennium decade will be our lost decade.
The next crisis after this one with a world currency and everything interconnected should be the last one IMHO !
The first millennium decade will be our lost decade.
The next crisis after this one with a world currency and everything interconnected should be the last one IMHO !
Forex or bust!
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