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Leading Chinese Economist predicts the U.S. will have an economics crisis by August

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posted on May, 19 2011 @ 05:41 PM
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Originally posted by THE_PROFESSIONAL
If you owe 200K in debt, and the dollar crashes, your debt is actually worth less. If the dollar crashes faster than your interest rate, dont even worry about paying off your debt. The value of your debt will start to crash significantly faster than the nominal value of your debt in USD.

I could be wrong, but i am no economist.
edit on 19-5-2011 by THE_PROFESSIONAL because: (no reason given)


That only works if you don't actually rely on using dollars to buy things such as food, shelter and clothing, to name a few. If the dollar tanks, inflation in the US will soar and you won't be able to buy your basic goods, much less service your debt. So in essence, while your debt would be worth less to an outsider, it is still a huge debt to anyone within the US.

Add on to that if inflation soars, so will interest rates, so your debt will actually increase faster while at the same time your basic costs shoot up, so you're still in the same boat.




posted on May, 19 2011 @ 05:49 PM
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Welcome to the structural crisis of capitalism!

Now the question is:

What are we going to do about it?



posted on May, 19 2011 @ 06:01 PM
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Originally posted by xavi1000
According to World Bank Dollar's Hegemony will end by 2025


The World Bank expects the U.S. dollar to lose its solitary dominance in the global economy by 2025, as the euro and the renminbi establish themselves on an equal footing in a new "multi-currency" monetary system. The shift will be driven by the increasing power and strength of emerging market economies, with six countries — Brazil, China, India, Indonesia, Russia and South Korea — accounting for more than half of global growth in 14 years. According to the World Bank report — released on Tuesday — emerging economies will grow at a rate of 4.7 per cent between now and 2025, a much faster pace than advanced economies which are expected to grow by 2.3 per cent over the same time-frame.


2020worldnews.blogspot.com...
edit on 19-5-2011 by xavi1000 because: (no reason given)


Yeah but these are the same bastards that didn't see the global collapse coming in the first place right ? Like I'd listen to anything those clowns have to say !



posted on May, 19 2011 @ 07:04 PM
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Originally posted by stumason

Originally posted by THE_PROFESSIONAL
If you owe 200K in debt, and the dollar crashes, your debt is actually worth less. If the dollar crashes faster than your interest rate, dont even worry about paying off your debt. The value of your debt will start to crash significantly faster than the nominal value of your debt in USD.

I could be wrong, but i am no economist.
edit on 19-5-2011 by THE_PROFESSIONAL because: (no reason given)


That only works if you don't actually rely on using dollars to buy things such as food, shelter and clothing, to name a few. If the dollar tanks, inflation in the US will soar and you won't be able to buy your basic goods, much less service your debt. So in essence, while your debt would be worth less to an outsider, it is still a huge debt to anyone within the US.

Add on to that if inflation soars, so will interest rates, so your debt will actually increase faster while at the same time your basic costs shoot up, so you're still in the same boat.


Additionally, the way the system works, those "in the know," meaning, those close to the fed, will get access to the dollars before it is inflated to all hell yeah. So, it is the example of the meeting the bear in the woods - you don't have to be faster than the bear, only faster than the people you are with. In this case, those people that will be faster than us are those close to the money.



posted on May, 19 2011 @ 07:32 PM
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If you have your money in PM's you could probably pay off your debt pretty easy in a hyperinflationary environment.



posted on May, 19 2011 @ 07:41 PM
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reply to post by mayabong
 


I have long thought of that, but logistically, it may be hard to do. Most "experts" on the subject are expecting to time it just right where they dump a good portion of the PM's prior to it maxing out and convert it to real estate or something to store the "value." However, one thing I think most of these folks, myself included, is not knowing to what crazy extent TPTB will manipulate the law, the market, etc. They may even confiscate PM's.



posted on May, 19 2011 @ 07:45 PM
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reply to post by alyoshablue
 


Yes I agree there, you never know what they will do. My guess is they would confiscate or try to. It seems there are alot more aware people in the country today (well not that many) but more than in the 30's. I'm sure the whole "give us your gold to end the depression" thing wont fly with alot of PM holders these days (and there are alot of them)



posted on May, 19 2011 @ 08:55 PM
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reply to post by MikeboydUS
 





Beck approaches conspiracy from a Biblical angle. Thats why he favors Israel. Its quite common among major Christian churches in America, due to the reading of Bible prophecies involving a worldwide alliance of nations attacking Israel in the "endtimes".

Beck also seems to hint that George Soros is the antichrist.

Its just who he is and his Bible belt listeners love it, not that there's anything wrong with that.




Here is the thing people do not understand: In the new testament, Jesus says that Israel is embodied in anyone that believes in him, as opposed to the old testament where we were actually talking about that land of Israel. The people physically in Israel right no are nothing more than secular zionists, people who have distorted reality to make it seem like they are the "chosen race".

The "bible belt" take things way to literally. But then again there are some people that claim to be Christian that kill anyone not their color, so these things can be distorted often. I like to think us northerners have a more complete understanding of these issue, but morons are everywhere



posted on May, 19 2011 @ 09:01 PM
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reply to post by xavi1000
 





Hmmm, i think NWO guys are lot smarter than appear , they have PATIENCE , they will put one commercial on rfid chips on CNN and then they can wait for years ,reactions on people etc..they monitor globally human awareness ....they are building up EU 60 years now and is not completed yet .... they dont have problems with time ..they have one goal and time is not obstacle. I believe full NWO will be completed in 2030-2035 ..but they can change that though.


Don't forget, War can speed many of these things up. and I dont mean war like the middle east right now. I mean bombs being dropped on American cities. The sheeple will clamour for protection from Russians, Chinnese, terrorist or whomever. It is the biggest Problem-Reaction-Solution the NWO have.

Those who live by the sword die by the sword.......and America certainly lives by the sword



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