Government Insider tells me Economic Collapse is Imminent.

Originally posted by iNkGeEk
I'm not sure if said gun owner is telling the truth or not...i'm not in a position to say either way. however, what he says is completely plausible. it's not a matter of IF the dollar collapses, but WHEN the dollar collapses. there is no way the govt can operate at deficit of some TRILLION dollars and be successful.

the govt spends, spends, spends. it throws money at the military machine that sticks its nose where it doesnt need to. it bails out the banks, the airlines, the auto industry. these are industries that should be allowed to go bankrupt, because obviously their current system of running a business isn't working.

now, instead of cutting spending the Fed Res just prints more money! the more paper money there is going around, the less value it has. this country can't pay on its loans that it has with other countries. before you know it, the govt is going to need a bailout and who's going to bail them out?? a foreign investor/country? if that happens...welcome to your new ruling country. is the govt going to file bankruptcy? if that happens, the dollar will be worth less than toilet paper..

this is why certain people are pushing for a one world bank/currency. its my belief that it will happen sooner than later. everyone will be issued a credit card with credits and that will be your monetary unit...credits. there will no longer be paper/coin money, it will all be electronic transactions.

a one world bank is just one step closer to a one world govt. scary stuff.

There really was no reason for store owner to lie to me. I trust him and be buy guns and ammo from him for years. This was the first time we got talking about his "contract work" and what a goverment bank told him. What he said is backed up with facts. It's just a mater of time now that's all

Wow. It would be awesome to buy a house and not have to make a single payment in 6 years.

reply to post by camaro68ss


i'm not at all disagreeing with you or saying to got some bad info. i actually very much believe what was told you. there is much proof in daily headlines.

reply to post by camaro68ss


Rest assure my fellow insignifacant people, the fall is coming. You can pass the buck, push the blame, or pretend it isnt there. Doesn't matter I reckon, even the local loon at the gun shop can see the writing on the wall. Like me, maybe he justs wants others to know that the game is rigged. I don't give a sheet about sales, I think it's important for all of you to know that soon, very soon....things are going to suck....like you never imagined.

We can put it off, push it further down the street, even ignore it in some fanatical way of thinking this will make it go away. In the end tho, we're screwed glued and tattoo'd. All you can do is take what the gun shop nut says with a grain of salt.

I mean look around people, is what the gun nut says really that far off?

Prepare, remain vigilant, and form a plan cause brothers and sisters......it is coming one way or the other....its only a matter of months. And with Bernake now saying QE3 is possible, we're gonna see how long the titanic can float with the hole in the middle that is the american tax payer.

Burn it down, crash it down, bring it down. Rome has to fall, lets hit the reset button and start over.

reply to post by Castogere


I'm right there with you bud! I'd say I'm gonna take my family and relocate to a Canada or England, but if the US collapses, there will be a domino effect and no place will be safe.

I guess we all know what the Fema camps are for.....all these people losing their homes and everyone losing their income.

reply to post by camaro68ss


I have to say he is probably right..I know for a FACT that a few of my friends and 2 family members haven't made a mortgage payment in 2 years...2 YEARS! It kinda makes me a little mad because one of them has been traveling out of the country on vacations..instead of paying their mortgage. They got upside down in their mortgages and finally said "eff it".

reply to post by camaro68ss

Exactly...why should I pay up when I bought within my means? I don't want to pay for someone that bought a 300K house while I sit here in a paid off 40K house. If I would have known this was going to go down we would have purchased our "dream" home and said "oh those sucker taxpayers will pay for it for me"

There are too many negative numbers to anticipate aught but catastrophe at some future point.
What is crying out to be implimented is simply a reset of the entire system right across the board.
This wont happen without great upheaval and turmoil.
Those that have will not willingly give to those that dont.There is no other option, however, and the reset must take place or the economy will not work.
The problem lies with corporate enterprise.
They have jimmied the system too heavily in favour of the rich and powerful.
Bill Gates fortune is bigger than the GDP of quite a few countries.
Nobody should be allowed to reach that kind of position in the first place.
The richest 1% own more than a third of everything.
The reset will take place regardless of what else transpires because it has to.........whatever trouble, pain, and sorrow that bringss to everyone, it will happen sooner than later IMHO.(in the next 12 months)
Your friend may be correct, maybe not, but the tipping point cannot be far from us here and now.After that it is a house of cards.

You know, everytime we hear a "government insider" nothing happens with it.. Do a search for the phrase, see whats come true.

Didnt you start
"Obama Fearmongering, says "can not" guarantee SS payments without debt ciling hike"

Just the other day? Now whos "fearmongering" ? Meh, all you right wingers have some weird, deslusional double standard thats annoying.

This information ties in with what my real estate agent friend told me. I am back in the states looking at property and she is an agent for reo properties and was invited to a private round table meeting with Fannie Mae and Freddie mac in texas. She says only 10 People were present and they were told that there would be 4-6 million more homes about to hit the foreclosure courts and they are backlogged because one lawyer in Miami was rubber stamping all foreclosure requests because he was getting paid a lot of money per "stamp". The problem arose as one homeowner took the bank to court and won. They figured out what the lawyer was doing so Fannie may and Freddie Mac stopped the sale of these homes temporarily while they allowed the courts to review all the backlogged rubber stamps so no one else would sue.

According to her, come November time properties are going to take a dive again as all these backlogged homes come on the market as reo sales. This is how she makes her money but since the halt of these properties she has not sold anything and is in dire straits. This coupled with the debt ceiling could be the straw that breaks the camels back.

I am just giving you the info I got and many of you who have a go at the OP for giving you information should not bother reading because its tidbits of information from users that help us piece together the bigger picture .

Regardless of the veracity of the information in the OP - the 3rd quarter is always dicey. Add the debt woes and the still-faltering economy and I'd say chances are good...

reply to post by camaro68ss


Normally, I would not condone not paying ones bills. However, in my case I think it is the right thing to do. Otherwise, at the end of the day when it is all done and said, I would feel as if I willingly allowed someone to walk all over me while I did nothing about it. I would never forgive myself for that.

So, it is what it is. Am I happy about it? I can say categorically....no. On the other hand if this is the situation I am in then I am going to do what ever it is to survive, the gloves are off and I am adapting to the situation. I am going to use it as much as I can to my advantage and if it means it ultimately hurts the bank as well, then good, that is my goal. I know three other people that have the same mortgage company that have also quit paying, for their own reasons. All I know is that three people and myself have cut a banks monthly income by several thousands of dollars. Maybe if more people did the same the banks would begin to be unable to pay their bills and then the tables would turn from the people unable to pay their bills to the banks unable to pay theirs.

Originally posted by DARKJEDIG
This information ties in with what my real estate agent friend told me. I am back in the states looking at property and she is an agent for reo properties and was invited to a private round table meeting with Fannie Mae and Freddie mac in texas. She says only 10 People were present and they were told that there would be 4-6 million more homes about to hit the foreclosure courts and they are backlogged because one lawyer in Miami was rubber stamping all foreclosure requests because he was getting paid a lot of money per "stamp". The problem arose as one homeowner took the bank to court and won. They figured out what the lawyer was doing so Fannie may and Freddie Mac stopped the sale of these homes temporarily while they allowed the courts to review all the backlogged rubber stamps so no one else would sue.
SNIP

I can also back up OP by saying that I was told pretty much the same thing but this was coming from a person who works for one of the big banks in this country. They said they just had a pile of foreclosure paperwork "ready to go" on their desk but they were told to hold off on it because it would crash the market(s) again. So I guess they are waiting for something to pull the trigger or are going to do this very slowly to not upset the markets.

$300,000 seems high for a national average home mortgage. Especially those that are in default. Also, I thought banks were only allowed to leverage 10:1 but it is a giant pyramid ponzi scheme either way. Yes, bad things cometh, Geithener already attested to that. Pretty soon the only direction will be up which is a pretty scary thought.

I love how those who choose to openly speak the truth about the obvious, are referred to as "nut", "loonie", etc. It would seem to me that those who choose to use these labels may be the mentally deficient ones. All the signs are there, if you choose to ignore them, so be it that is your choice. This empires days are numbered. Is it going to be mad max around here- no dont believe so. I understand that some cannot fathom their country being run into the ground by financial irresponsibility, followed at some point by partial or complete collapse- or at the very least major restructuring. Take a look at the world around you, it is happening all over the world. Some choose not to see it in order to maintain, because they are simply not the kind of people that cannot handle such events. A quantum shift in order, due to the fact that nothing has been done to fix the problems that started all of this, what that shift will be is anyones guess, although im sure that there are some in the know. I think some of the anger and mistrust needs to be directed at the appropriate people and not at someone who merely points out the obvious, whether based on opinion or information given to them by outside source. I cannot say whether or not what this man says is true, I certainly am not going to form an opinion of it based on what he does for a living.

There is only one thing to this story I find suspect... The eviction of 4 million families, sure they might try to evict them, but Sheriff's all across the land are refusing time and time again to throw families out of their homes for the banker's fraud and fault. Viva la revolution. Plus many of the 4 million families have guns and more than a few police officers might get shot...I guarantee a large handful of desperation, anger and panic in 4 million souls.

OK.... I don't think anyone is a loon or a nut but, I fail to see how a gentleman who claims to work for a banker is a "government insider?" I'm sorry but although what he is saying is probably pretty accurate as far as the housing issues, these facts have been known since the initial bailout occurred... these are not new figures nor new information.

Also... unless the "banker" is one of the absolute elite within the banking cartels, he has ABSOLUTELY NO IDEA what is actually going on behind the scenes to add any credible info to what we already know. if he were in those circles... he wouldn't have security that moonlights as security!

Its hard to say, it looks like the writing is on the wall , but its looked this way for a while now. You guys know that if TPTB want to "fix" this or just make it go away, they can and will. The way most elites are acting , its like they know they wont have pay the money back, I have no idea why , comet crash, jesus returns, yellowstone, pick your favorite end of times scenario ...but they are spending and borrowing like it really wont matter. So I think they know something.

And for those that think any other place in the world will be better, you are sadly mistaken. If the US falls, the entire planet falls, no if ands or buts. But I believe the US has accumulated way too much power around the world and over the world to let it go for any reason. So it may end up an all or none situation, meaning the US will just take what it needs, kill who it needs and either we painfully pull it off and survive or it truly will be the end for all.

So I think some behind the curtain magic will be worked and things will be rough, but end up being strung along for many years to come still seeming to be propped up. There is no scenario where the people are left with no choice but to fight on the minds of the powers that be. They have more to lose than we do in some ways, and this is the only way to be sure to lose it for them, so its in their interest to figure out a plan. There are other methods to go , it doesnt have to be total collapse or instant recovery like it never happened which is what most of you are acting like are the only 2 options here. But this could be just my wishful thinking as well

Originally posted by camaro68ss

Originally posted by Kitilani

Originally posted by camaro68ss
Ding ding ding, there are millions of familys not paying there house payments and banks are not collecting because they will have to clam a lose. ding ding ding. use your head

I am using my head and this sentence above makes no sense to me at all in any way shape or form. Then again, I know collecting a payment puts me at less of a loss then not collecting one does. What did I miss?

1. familys are not paying for there house anymore so they use that extra money to buy goods

2 banks are not getting payed for the house yet they are not declearing forclosure, there are 4.1 million homes like this.

3. when 3rd Quarter comes rolling around per this insider. banks need to forclose, take the lose and kick the familys out.

4 familys stop spending extra money on goods and now must find a place to rent and now dont have all that extra income

5 banks take a $1.2 trillion loss thats leveraged

6 hope this helped alittle

Hi, I may be missing something, but whatever the financial amount is, isn't there at least partial mitigation in that they are going to have 4 million properties in their portfolio if this really is the case?