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Originally posted by amatrine
It might actually be a good thing for America.
China stops buying our debt, we stop allowing China merchandise in the USA.
Now all that cheap crap that comes from China now gets bought again in the USA creating more jobs at home. Would not happen overnight, but we did not get in this position overnight.
Originally posted by drsmooth23
I could have sworn that the dollar was backed by gold. like, you know, fort knox, where they happen to have a Snip-ton of gold. if gold jumped nearly $20.00 in one day, isnt that a great thing for the dollar?
all you Madmax/waterworld cats need to realize the absurdity of trading gold specs for a sandwich. Im not saying it would never come to that, because no one knows.
Im all for making my life easier so when i have kids one day they wont be born into debt or stupidity. If you think it takes a long time for your credit card to run at the store, imagine if everyone in line had to weigh out their little nuggets....
[edit on 30-1-2009 by drsmooth23]
Originally posted by drsmooth23
I could have sworn that the dollar was backed by gold. like, you know, fort knox, where they happen to have a Snip-ton of gold. if gold jumped nearly $20.00 in one day, isnt that a great thing for the dollar?
Originally posted by drsmooth23
I could have sworn that the dollar was backed by gold. like, you know, fort knox, where they happen to have a Snip-ton of gold. if gold jumped nearly $20.00 in one day, isnt that be a great thing for the dollar?
all you Madmax/waterworld cats need to realize the absurdity of trading gold specs for a sandwich. Im not saying it would never come to that, because no one knows.
Im all for making my life easier so when i have kids one day they wont be born into debt or stupidity. If you think it takes a long time for your credit card to run at the store, imagine if everyone in line had to weigh out their little nuggets....
Originally posted by IlluminatiKarate
I guess all we can wait for now is the government seizure of gold like in the Great Depression. Either way, I'm sure the PTB would rather piss off the minority who invested in gold as opposed to the rest of the population who uses paper. Even with the collapse of the dollar, it's not the end of the world like those who want you to "buy gold" would have you believe... there's a replacement in the works. Anyone that's telling you to "get into gold" only wants to increase demand so THEIR investments go up.
A popular and recurring conspiracy theory, as alleged by Edward Durrell, Norman Dodd, Peter Beter and others, claims that the vault is mostly empty and that most of the gold in Fort Knox was removed to Jerusalem in the late 1960s by President Lyndon Johnson.[4] In response, on September 23, 1974, Senator Walter Huddleston of Kentucky, twelve congressmen, and about 100 members of the news media toured the vault and opened various cells and doors, each filled with gold. Radio reporter Bill Evans, when asked if it seemed like the gold might have been moved in just for the visit, replied that "all I can say is that I saw gold there" and that it seemed like it was always there.[5] Additionally, audits of the gold by the General Accounting Office (in cooperation with the United States Mint and the United States Customs Service in 1974 and the Treasury Department) from 1975-1981 found no discrepancies between the reported and actual amounts of gold at the Depository.[6] However, the audit has been described as a peculiar process because it was only a partial audit done over an extended period of time.[7] The report states only 21 percent of the gold bars were audited as of 1981 (the audit report's issue date) and that the audit has "covered more than 212.7 million fine troy ounces of gold" which "represents over 80 percent of the total amount of United States-owned gold of 264.1 million fine troy ounces."[6] A small amount of gold is removed for regularly scheduled audits to ensure the purity matches official records.[1]
Originally posted by redhatty
If China and other foreign countries stop buying our debt, then the entire country becomes insolvent, almost overnight. Have you been paying attention to what's happening with California? No money, no tax returns, cutting state employees work weeks, etc?
Imagine that on a scale that encompasses the entire US, including your elected officials.
This is not a good thing, if the US becomes insolvent, then we end up like Iceland, bankrupt. Iceland's government fell this week, soon they will no longer be a sovereign nation.
Is that what you want to see in the US?
Originally posted by warrenb
The Art of War
You do not need to throw one soldier or bomb to destroy, devastate or otherwise cripple your enemies nation. Simply make it rely on you for its economic strength, then once you have enough capital power, remove it in one fell swoop; destroying your enemies economy and throwing the nation into turmoil.
Brilliant.