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USA 2008: The Great Depression

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posted on Apr, 10 2008 @ 07:00 PM
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Here's the money-shot from the Chilly Outlook for Iceland missive: It said that if the global carry trade was to unwind, Iceland could be forced to raise interest rates, making recession a possibility.

Both Iceland and Turkey, have been central players in the interest-rate arbitrage game (carry-trade). The massive inflow of debt based money resulted in risky, highly leverged investments...leaving both banking system exposed & vulnerable to the inevitable unwind.

I scratched-around and was able to relocate this brief, but entertaining 2 part vid, filmed primarily in Iceland and the UK last year.

How it works: The Money Geyser

Part 1


Part 2




posted on Apr, 10 2008 @ 08:58 PM
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reply to post by infinite
 


Best of luck to you brother.. you have a much better chance at doing so then I did, being outside of the currency exchange (yours being higher) ..

In late 2006/early 2007 I wanted to move to County Kerry.. specifically Dingle Country Kerry.. I just love the small town's charm.. To buy a farm, which I wanted, would have costs me approx. 800k euros.. given the exchange, thats over 1.4 million US dollars... so that was impossible.. so I looked into buying a modest house .. averaged 400k euros... being 600k US Dollars... I thought.. damn.. on the West coast of Ireland.. where there are NO major industrial centers anywhere near this town, or any town around there.. a house cost that much??? It can't be!? .. So I looked for jobs.. specializing in securities.. I thought it would be easy.. I found not a single job within an 80 mile radius that paid more then 35k Euros a year...

Who the hell can make a payment on a 400k house making 35k a year??? ..

Here in America I am starting my own company, investing in commercial and multi family real estate.. the average 6 unit building in my area is only 160k .. averaging 30k in revenue a year at a 7.5% interest...

I had considered spending my entire savings on a down payment on a mortgage to found my business in the West of Ireland (I hate Dublin) and start poor as dirt from scratch .. I didn't care how poor I was I wanted to move back to where my family moved from..

an average multi family property in early 2007 was around 800k Euro's, well over 1,000,000 American.. a typical Pub's ground contract was over 900k Euros... keep in mind... this is in the West of Ireland where the two biggest industries are Farming and tourism.

It was disheartening for sure.. as the exchange rate continues to decline.. I get more and more screwed.. I wanted to marry my fiancee in Ireland at a certain castle resort.. when I proposed and thought up this brilliant idea it was about 150 Euros's a night.. since then the same resort and those like it are over 400 Euros a night.. or $600 a night not including extra fees, plane tickets, car rentals and so forth..

So 2 months ago I put an offer on 3 multi family properties in America, I was going to use the income from these properties to supplement the expenses of a live and rent multi family property in Ireland.. it almost worked.. except Ireland's economy tanked.. and what explodes? ... multi family residences as people foreclose apartments and duplexes filled up.. interest rates went through the roof..

Every venture I have put forth in Ireland has failed.. from simply moving there.. to getting married there.. to establishing my business there..

perhaps it was not meant to be.. who knows.. I do know that my August trip to North Ireland has already been scrapped because of my increasing expenses here at home.. and the horrible exchange rate..

Where once only 10 years ago in the same town in the West of Ireland I could have bought a house for 60k Pounds, it now cost over 400k Pounds even though not a single major industry has moved into the region ......



posted on Apr, 11 2008 @ 08:29 AM
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reply to post by Rockpuck
 
"beyond the reach" yeah kinda sounds funny but hey, i'd like to be somewhere beyond their reach and interested enough to inquire a little further. thought you might be interested, not in the magazine, but in the new currency, which was what piked my interest. there are more ways to find out about this currency.



posted on Apr, 11 2008 @ 09:08 AM
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Originally posted by musselwhite
reply to post by Rockpuck
 
"beyond the reach" yeah kinda sounds funny but hey, i'd like to be somewhere beyond their reach and interested enough to inquire a little further. thought you might be interested, not in the magazine, but in the new currency, which was what piked my interest. there are more ways to find out about this currency.


I'm not trying to come off as lazy (although I confess, I am lazy) but; what other ways are there to find out about this new currency - aside from surrendering your old currency to them in the way of $99?



posted on Apr, 11 2008 @ 03:12 PM
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Originally posted by Rockpuck

You actually have to pay $99 for a magazine to tell you "how to invest with the New American Currency" .... but yet never actually tells you how to buy it haha..


Say Rockpuck, forget Porter Stansberry's offer, I will tell you what the 'New American Currency' is...AND...try to explain how to invest in it...all for only $98.99! Act today and I PROMISE to include a 4 piece set of 100% nickel-plated cutlery...AND...2, count 'em...TWO...authentic Taiwanese fly-swatters!

New American Currency

Apparently Mr. Stansberry of Stansberry & Associates Investment Research, has developed a unique method for promoting American Depositary Receipts. ADR's (sometimes called DR's) are securities openly traded on US stock exchanges, and simply provide an easy way for American investors to buy shares in foreign companies. They are accessible through any brokerage.

Top performing DR's


Not directly related to the 'New American Currency' offer...but interesting none-the-less:


U.S. Securities and Exchange Commission

Defendants

AGORA, INC., PIRATE INVESTOR, LLC and FRANK PORTER STANSBERRY

1. Defendants engaged in an ongoing scheme to defraud public investors by disseminating false information in several Internet newsletters published by Agora or its wholly owned subsidiaries such as Pirate. Through various publications, defendants claimed to have inside information about certain public companies. Defendants suggested that its readers could cash in on the inside information and make quick profits. The defendants offered to sell the inside information to newsletter subscribers for a fee of $1,000.

2. Numerous subscribers purchased the defendants "inside tips" and made investment decisions based on that information. The purported inside information was false and, as a result, the subscribers did not realize the profits the defendants promised.

3. The defendants, however, profited handsomely. On information and belief, Agora received in excess of $1 million from the sale of false information to its newsletter subscribers. Full Text




Originally posted by Gools

Caveat emptor people. :shk:





Out of fairness: Porter Stansberry Defends Credibility...or..."Porter Stansberry v Brian Deer: you decide!"


Edit: SP

[edit on 11-4-2008 by OBE1]



posted on Apr, 11 2008 @ 03:50 PM
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reply to post by OBE1
 




Say Rockpuck, forget Porter Stansberry's offer, I will tell you what the 'New American Currency' is...AND...try to explain how to invest in it...all for only $98.99! Act today and I PROMISE to include a 4 piece set of 100% nickel-plated cutlery...AND...2, count 'em...TWO...authentic Taiwanese fly-swatters!


Ah .. good stuff..

Thanks for the article.. That is exactly what I meant when I asked "but what IS the New American Currency?!?" .. And no one knew.. unless you paid for a magazine subscription.


As someone else says.. if your reading an add on the internet, and it goes on page after page after page and never actually tells what the product is or how to utilize it....

Close the web browser..



posted on Apr, 11 2008 @ 03:54 PM
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reply to post by OBE1
 


You have restored my faith in the internet! (Ok, that's an exaggeration, but you get my meaning
)

I wonder if they have any openings?



posted on Apr, 16 2008 @ 01:04 PM
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as of now my friend's family is "out of business". gas jockies that lost wholesale supplier. by the pulling out of the 2 terminals which services the area. the mom and pop convenience stores were shoved out of business when the Feds come up w/the Epd and wrote rules and regs government underground storage tanks. granted their business would ultimately come to an end in just this manner.

it just happened. it was in the back of their minds and was sudden. this is quite hard to accept.

this affects me as adversely as well.

i reiterate "we are in a depression" and that is not the bottom.



posted on Apr, 16 2008 @ 02:35 PM
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We wouldn't be in this mess if Ron Paul would get elected. Everything he proposes will directly improve the economy and un-inflate the dollar. Lose the fed and let our government print the money for themselves so no interest is paid back. Lose the IRS and replace the income tax with nothing. Its an illegal tax anyways. Stop this 12 billion dollar a month war that was never properly declared and stop bulding an embassy larger than the Vatican so we can take care of our own infrastructure. Get rid of the departments that do nothing for us: Department of Education, Department of Homeland Security, Department of Agriculture, etc... they all seem to bee good things but all they do is allow our federal government control of our free market. Schools are to be dealt with on the state level. Homeland security is part of Department of Defense. All it is doing is putting more wasteful spending in a department. Department of Agriculture basically tells our farmers what to do. Let our farmers sell products freely. We also need our money backed by gold and silver again. Nixon screwed us in 71 when he ended the gold standard. This is what's causing our runaway inflation. The fed prints paper that people think is worth something. It's a fiat money systems. All fiat money systems in history have failed. This one will too. Our dollar today is worth about 4 cents compared to 1913 when the fed came to power. You want to fix a problem like this, we need someone like Ron Paul running the country.



posted on Apr, 16 2008 @ 10:18 PM
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Originally posted by Rockpuck
reply to post by infinite
 


In late 2006/early 2007 I wanted to move to County Kerry.. specifically Dingle Country Kerry.. I just love the small town's charm.. To buy a farm, which I wanted, would have costs me approx. 800k euros.. given the exchange, thats over 1.4 million US dollars... so that was impossible.. so I looked into buying a modest house .. averaged 400k euros... being 600k US Dollars... I thought.. damn.. on the West coast of Ireland.. where there are NO major industrial centers anywhere near this town, or any town around there.. a house cost that much??? It can't be!? .. So I looked for jobs.. specializing in securities.. I thought it would be easy.. I found not a single job within an 80 mile radius that paid more then 35k Euros a year...

Who the hell can make a payment on a 400k house making 35k a year??? ..

Here in America I am starting my own company, investing in commercial and multi family real estate.. the average 6 unit building in my area is only 160k .. averaging 30k in revenue a year at a 7.5% interest...



You seem to be an expert in the matter so I'll ask you directly, Rockpuck. Caveat: all my knowledge about UK real estate comes from UK tv shows and a personal friend who lives in London.

How can anyone afford to live anywhere in the British Isles? It seems that most people make like 30-40k/year and homes cost close to a million dollars. Maybe I'm just misinformed, but could you or someone else please explain it to me?



posted on Apr, 30 2008 @ 07:35 PM
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www.breitbart.com...

WASHINGTON (AP) - The bruised economy limped through the first quarter, growing at just a 0.6 percent pace as housing and credit problems forced people and businesses alike to hunker down.

The country's economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly.


The economy is weak but not collapsing," said Lynn Reaser, chief economist at Bank of America's Investment Strategies Group. "A recession can't be ruled out, although the stars are not lined up at this point to definitively say one way or the other."

.
Gold has been trending down for about 6 weeks and has broken through several support points. next is at 800$.

futures.tradingcharts.com...

Also the dollar is starting to trend up. I'm kinda early on this but it stopped heading down for now, trending sideways the last days.

futures.tradingcharts.com...

I would like to see a strong bottom but hell the $ stopped going down even if it just a short term deal. It can stop.

This is why I said earlier in this thread there would not be a "Great Depression of 2008"

I ain't saying things are rosy, but still......

Roper



posted on May, 1 2008 @ 07:00 AM
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It won't be in 2008 but it will be in 2009 or 2010 when it happens. We may see it happen at the end of this year even. It just depends on how poorly our fed inflates our money.



posted on May, 1 2008 @ 05:18 PM
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If you will go here, moneycentral.msn.com...

you will see that the only currencies that are kicking the USA's butt is the British Pound and the Euro.

It seems that some on here see total oblivion when it's just the MKT's working it out. Now when the government gets involved then we will have big trouble.

Roper



posted on May, 2 2008 @ 12:07 PM
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More good news.

www.breitbart.com...

WASHINGTON (AP) - Employers cut far fewer jobs in April than in recent months and the unemployment rate dropped to 5 percent, a better-than-expected showing that nonetheless reveals strains in the nation's labor market.

Roper



posted on May, 2 2008 @ 12:17 PM
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The gov't manipulates those numbers, birth/death etc.


Bankruptcy filings by U.S. consumers jumped 47.7 percent in April from one year ago as families cope with fallout from the subprime mortgage crisis, the American Bankruptcy Institute said.

www.cnbc.com...

It's amazing how a fourth straight month of shedding jobs can be turned into a positive by just saying, 'Well it wasn't as bad as we expected'. Who put the bait up in the first place? Now the switch is in and some buy it hook, line and sinker!



posted on May, 2 2008 @ 01:33 PM
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Here is Richard C. Cook, former U.S. federal government analyst take on it :



Can it be that the last stage of the U.S. takedown is “The Project for the New American Century”? Is this ambitious plan for “global leadership” through military might that was seemingly invented by the “neocons”—many with dual U.S.-Israeli citizenship—a Trojan Horse?

It certainly appears that with 9/11 as a pretext, the neocons suckered the U.S. into the invasions of Afghanistan and Iraq as a means of military occupation of the Middle East . Certainly 9/11 and the Iraq invasion benefited Israel, as some Israeli politicians have frankly stated.

Were the neocons also acting on behalf of the financial controllers in London and elsewhere? And was one reason the neocons were so eager to engage in a “clash of civilizations” against the Islamic world the Koranic prohibition of usury which states, “Those who charge Usury are in the same position as those controlled by the devil's influence. This is because they claim that Usury is the same as commerce. However, God permits commerce, and prohibits Usury.” (Koran, Al-Baqarah 2:275)

Prior to 9/11, the Bush administration got Congress to cut taxes for the highest income brackets, reversing Bill Clinton’s budget surpluses. The tax cut remained in effect, even as the massive expenditures on the Middle Eastern wars mounted. The consequence has been to bring the federal government to the brink of bankruptcy.

The last official act of this phase could well be the ultimate insanity of a U.S. attack on Iran . If successful, this would complete the Western conquest of the Middle East but may start a larger conflict that could eventually force the U.S. to withdraw its forces once the money runs out. Israel would then be at liberty to sweep in to dominate a region that U.S. military power had devastated.

Whatever may happen overseas, the U.S. economy at home is on the verge of collapse. It if does, we will have to retreat to our own shores and face here the edifice of a ruined nation with no manufacturing base, a crumbling infrastructure, an aging population, insufficient food, poorly developed resources, and the collapse of the dollar. Of course the prophets of doom who claim that overpopulation must inevitably lead to Malthusian scarcity will take all this as justification of their prejudices. The rumored North American Union, with its currency the amero, could then follow, both under the control of the financiers.

One of the tools of financier domination in the meantime will likely be worldwide famine engineered by artificial shortages. This has already started and may cause hundreds of millions of people to die and their resources to be seized. The smokescreens for this will not only be peak oil but also global warming as a means of dealing with the world’s “surplus eaters.” Numerous non-profits and NGOs are greasing the skids with their insistent lobbying against even responsible economic development.

Now in the U.S. we will likely see riots, panic, martial law, plagues, epidemics, and prison camps, much of which has already begun with police crackdowns, anti-terrorist exercises, declining public health, erosion of civil liberties, and the world’s largest prison population.

It is likely that the “American Century” is over and that the “New American Century” will really be the “No American Century.” Outside of select pockets of prosperity around financial centers, resorts, and military installations, the U.S. is being destroyed. As an example, the residents of once-prosperous towns in Michigan have turned to the illegal manufacture of meth-amphetamine now that the jobs are gone.


www.globalresearch.ca...

[edit on 2-5-2008 by Gun Totin Gerbil]



posted on May, 3 2008 @ 12:02 AM
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reply to post by Gun Totin Gerbil
 


Simply put, I couldn't agree with you more. Although, I do see this demise of the U.S. as a fulfillment of prophecy and you kind of hinted your distrust of prophecy in a sarcastic way but nontheless, I agree with you all the way as far as the devious plan is concerned with our neocon government. good post.



posted on May, 3 2008 @ 12:26 AM
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The problem with Cook is that he is obviously a very biased Liberal. NWO enthusiasts are both parites.

It is your national bankers, the Bushs, Clintons and even our boy Obama.

Ever since Vietnam it has been a story of building up an enemy and then taking them out for large profits.

The idiots went to far though, they built up China and now we're getting dependent on them and China has its own Hemoganistic agenda for New World Order under their brand of Communist government.

I call it NWO Blue (America NWO) vs. NWO Red (China's version). This will be the battle that will cost too many lives. It seems unavoidable (at least going by the track we are on now).



posted on May, 3 2008 @ 07:34 AM
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There won't be a war with China either.


www.bloomberg.com...

May 2 (Bloomberg) -- Futures traders are betting for the first time since December 2005 that the dollar will gain against the euro.

The difference in the number of wagers by hedge funds and other large speculators on a decline in the euro compared with those on a gain, known as net shorts, was 21,315 on April 29, compared with net longs of 18,907 a week earlier, figures from the Washington-based Commodity Futures Trading Commission show.

``The dollar has already turned against the euro,'' said Benedikt Germanier, a currency strategist at UBS AG in Stamford, Connecticut. ``The dollar will go to $1.52 in a straight line.''


www.ft.com...
Speculation that the euro’s seven-year bull run was coming to an end intensified on Thursday as the single currency fell to five-week lows against the dollar and the pound.

Many economists are reaching the view that eurozone growth has slowed to the point where the European Central Bank will have to cut interest rates or risk stunting economic growth.
EDITOR’S CHOICE
Eurozone economic confidence slips rapidly - Apr-30
Europeans fear US fever could be contagious - May-01
Business in Europe enjoys good times - May-01
Robust euro restricts region’s growth - Apr-23
EU reforms riddled with ‘inadequacies’ - Apr-16
Eurozone inflation at 16-year high - Apr-15

“Within the space of one week, the outlook for the eurozone has worsened significantly,” said Carsten Brzeski at ING Capital Markets. “Sound economic fundamentals are melting away.”
Roper

[edit on 3-5-2008 by Roper]



posted on May, 3 2008 @ 09:53 AM
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Originally posted by Roper

May 2 (Bloomberg) -- Futures traders are betting for the first time since December 2005 that the dollar will gain against the euro.


I bet they are.....

That Bloomberg headline went to press the day after traders witnessed a mysterious entity...slink into the futures market.....at 3 am.....and paint a most unusual chart







Fed move helped put floor under dollar for now

By Lisa Twaronite, MarketWatch
May 2, 2008

The European Central Bank's next policy meeting is Thursday, and it is expected to stand pat on rates.....

The ECB has left its key interest rate on hold at 4% since June, and officials have repeatedly stressed surging inflation as their primary concern.... Full Text


No ECB rate-cut next week, could mean headwinds for the Dollar. Of course a little night-work by the Presidents Working Group.....can trump even the ugliest fundamentals......temporarily.



[edit on 3-5-2008 by OBE1]



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