A vague warning from the top

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posted on Apr, 27 2012 @ 07:14 PM
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reply to post by Zarniwoop
 


exactly???/ What. So everyone who owes money is in trouble. Well that about puts everyone out there with a mortgage for the next thirty or so years. Now it could mean an adjustable rate but there are limits set on them . thats if your not smart enough to have that in writing. Im calling this bunk. More info is needed and who is this senator Ill call him and probe what he means!!!




posted on Apr, 27 2012 @ 08:15 PM
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so as we near 50-100% unemployment and debtors prisons are being brought back....sounds like great advice right now. If you spend any time at all in debtors prison working off your debt when the crisis really kicks in, when the new currencies are being primed to come online then you will most definately lose everything by the time you get out and look to regain your life.I forsee entire cities destroyed and entire cities born from nothing next to any available jobs when it happens.
Just try and imagine what 100% unemployment looks like.

Stagflation, hyperinflation, etc....it can get real nasty for a period of time as the chaos that is being created kicks in before the planned solution is provided.
Cities will resemble giant prisons with military quaranteing access in and out.
This explains why dhs needs 450m rounds of .40 cal. hollow point bullets and the bullet proof checkpoint houses recently ordered.
It looks like the global economy is about to go through a "resetting"
The usa debt vs. gdp is above 100% now and as for what we preovide for products to surplus onto the global mkt...well, there isn't anything that I can think of.
It's the financial sector ONLY



posted on Apr, 27 2012 @ 09:13 PM
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reply to post by TheRedneck
 


we are indeed heading into a period of unparalleled economic misery: hyperinflation, massive unemployment, and astronomical foreclosure and forfeiture rates. I think he sees some actions coming on the horizon that he is powerless to stop, unable to express publicly, and he is simply warning a colleague on the sly.

Of the first part I am sure. 14 trillion and counting... UP. Of the second part, what would a currency exchange do to peoples debt? You give the Fed 10 dollars and they give you back one. So borrow away. The gold, guns and land you own now will be as valuable, regardless of the fiat currency.


The Senator however, who has millions in the bank, will lose his shirt



posted on Apr, 27 2012 @ 09:33 PM
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Ok, may be going out on a limb here, but here is what I'm thinking is what is going to happen.... I have heard rumors of the dollar crashing by some of the "higher ups" that are trying to make as much as they can with as little as they can right now due to the fact that the dollar isn't going to mean squat in the next couple of years.

Keep in mind that this is just what I am hearing, not reading in the MSM or any news source, this is real people in real time.

What I see happening is the economy so hyper-inflating that most people that have loans etc... are not going to be able to pay. They will get foreclosed and lose whatever it is that they had bought, whether it is a house, car, boat, or any asset they may have, and anything else that will "help" take care of that debt. Most toys syndrome will be no longer.

With the U.S. in such heavy debt, they will have to start turning to other resources to pay it off. Anyone know what those resources are??? I am sure the big wigs aren't going to give up THEIR stuff.... so where does it come from?

How much is each state worth??? Which state has the most assets that can help with the "greater good"?

Start selling off the coastal states, eliminate debt, and hope we can pull through this, because this country really is no more.

I used to have such pride for the USA.... now I just shake my head, wondering when the next shoe will drop.

Like I said, this whole post is pure speculation on my part.... but I really do see other countries that we have defaulted or close to, demanding their payment.



posted on Apr, 27 2012 @ 10:21 PM
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I'm confused by the comments in this thread.

If you have a loan and inflation happens, doesn't it make it easier to repay the loan, not harder?



posted on Apr, 27 2012 @ 10:28 PM
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so everyone is going to lose everything...
seeing as everyone has some form of debt.
Even if you use cash, "this is legal tender for all DEBTS public and private."


But really, even the closest of friends can be a liar.
Guess what? Everyone lies.



posted on Apr, 27 2012 @ 11:10 PM
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Hi folks. I subscribe to Jim Sinclair and got this in my mail today. It might go a long way to explain the OP's information. If you don't know Sinclair, he has been in mining and metals for decades and very successful. He owns a mine in Tanzania and travels the world. His father was a famous trader. His website




My Dear Extended Family,

Do not discount this. It has the potential of being the most important positive development in the euro since the beginning of the USA and GB's MSM/MOPE assault on Euroland's problems. This I am told is the reason behind the Euro holding above $1.30 no matter how much the US and GB MSM/MOPE is thrown at it. This is another economic war taking place under the radar of the sheeple between the USA and GB on one side and Euroland on the other. Russia and China might make the euro their reserve currency of selection if Hollande can pull off this plan. I might go to France to vote for him twice. He knows what the euro's real problem is and will work to cure it. This is extremely important in the dollar equation. It may be the most important swing factor in the political scene of gold and the US dollar. Hollande could be the political figure of this century for the upcoming euro block. It is possible. Do not discount this.

Respectfully, Jim


He goes on to quote this news headline
edit on 27-4-2012 by liveandlearn because: (no reason given)
edit on 27-4-2012 by liveandlearn because:

This would mean that the dollar would go futher down and and prices up for Americans.
edit on 27-4-2012 by liveandlearn because: (no reason given)



posted on Apr, 27 2012 @ 11:16 PM
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This is because fixed-rate loans (except for mortgages) don't exist anymore. Maybe some, but not nearly like they did 5-6 years ago.

Check the fine print on your auto loan, credit card, department store card, financing agreement for your TV, etc. Many of these things are variable rate and are based on prime + XX% Prime rate goes up to 19% like it did in the 1980's, you might be paying 40-50% interest on your credit card.

The Prime Rate has been so low for so long now, it HAS to go up astronomically soon. It is the only tool the Fed has to correct our overvalued money supply.



posted on Apr, 27 2012 @ 11:17 PM
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When I was 93, I had a memory of my past, of growing older in my 30s, through the economic wilderness that was the USA, in transition. I do recall that between 2012-13 and 2017 was one of the most severe times I have ever had, that the entire nation ever had. This is beyond the 70s gas crisis, the 80s recession, the 90s recession, and the 2010-ish almost-recession. I can't put it into words but because of global economy, your 1 dollar bill will be worth about 30 cents in five years in 2017.

How you want to play that information is up to you; how the whole world deals with my story is a mystery. The IMF is demanding to the nations to get ahold on their populations to pay their bills. There is a world leader that is pretty hard to say no to, thanks to modern technology. It's hard to describe "poverty" to 1st world nationers who are living paycheck to paycheck, having all they desire; yet, they are poor if the flow of income stops. Imagine if everything you ever consumed became rationed; gas rationing via a card, for example. Paying per e-mail. Yes, I did suggest a per-email fee. Imagine a no-buy limit for obese people. Health rations, in other words, linked to your health card.

Back to the point, it's 2012, not 60-odd years from now when I had my memory. How does the mind work? Your big kahuna who warned about loans was right. The credit card taxation-and-health system will have a value on it per month, and then you have to pay-work that off and then pay more for yourself. Taxes up front, monthly, in other words. Pay-per-capita.

When your 5 dollar gas is suddenly 13 dollars, how will you balance your debts to pay them off? Oh, and the 20-year old beginner loan errors, paying the minimum, and more, it's designed to scare debtors sober, and if they can't pay, well, that would be a crime under the new laws, same as not paying monthly dues, so that would be punishible by prison. This is a dystopia; of course we can all change things if we choose to, myself included.



posted on Apr, 27 2012 @ 11:27 PM
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It's the derivatives market. It is going to implode.
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edit on 2012/4/27 by Another10Pin because: (no reason given)
edit on 2012/4/28 by Another10Pin because: (no reason given)



posted on Apr, 27 2012 @ 11:37 PM
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reply to post by TheRedneck
 


Redneck, you've hit the nail on the head. As you said:



ETA: I just thought about something while typing: during the Great Depression, we experienced hyperinflation followed by hyperdeflation. Now I am getting worried! We are already seeing pretty high inflation.


The effect of inflation is, IIRC, deflation. It how a currency holds a "mean" value overtime. If the FED gets froggy and starts pumping out dollars like gumballs, we have an inflationary period. Since they can't print money forever at an accelerated pace, the hyper inflation will stop. This will be followed by a contraction of the money supply which leads to deflation, or a worse case, hyper deflation. Hyper deflation is the killer of economies and the killer of empires. Inflation is a huge annoyance for the most part, but a healthy economy can absorb it, adapt and with a mild rate of deflation, come out OK.

But when you have a rapid hyper inflation of the economy, the results are vastly difference. Prices raise much faster than salaries which limits consumer spending, which impact inventories which decrease the demand on manufacturing, which leads to unemployment and less consumer spending...then comes the deflation for the killshot. Say you buy a car for 30k during the inflation period. Sometime later, the deflation starts, and now the car is valued at 5k. You can't sell it to get out of debt; it's not worth enough. You have to keep up your payments as the promised dollar amount as opposed to the value. If you manage to get through this, you will have paid something north of 50k for a car worth 5k. I would doubt you would be able to make any other consumer purchases, like food, during this time. This how deflation kills nations.

NOTE: I just made the numbers up off the top of my head for illustrative purposes. It's too late for me calculate the actual figures, but deflation is very frightening and I think you may see some parallels in what I have explained with our current situation. I think the Senator was correct with his warning, and you were wise to get out of debt when you did. Everyone should go read some basic economics books and draw their own conclusions. We are neck deep in bear poo, and he's circling back around....



posted on Apr, 27 2012 @ 11:44 PM
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reply to post by Pelvi
 


Repossessed by whom? In your scenario, "no one" has any "jobs" and the currency is devalued for everyone.



posted on Apr, 27 2012 @ 11:50 PM
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reply to post by TheRedneck
 


Guys, ENGLISH and context here. It is pretty clear what "said" senator mentioned. It was in the context of politicians borrowing for races. He was talking about anyone "politically, as in for a race, will lose their shirts...which is also why he said "for the next 5 years" lets see....Obama 2012 + remainder of this year is 5 years.

It is pretty clear that the economy IS a tanker full of poo drifting in a storm ATM, he is talking long term economic recovery wont happen for at least 5 years.

Also COMMON SENSE: If the dollar goes down, wages go up, fixed rate loans are THE BEST thing you could hold onto as long as your assured a job. Your payments are FIXED, i.e. $1000/mo and your making MORE with your wages going up (and if they don't, look for another job in same field ask for 5K more outta the box) Companies are hurting for SKILLED labor BAD right now and your hired. You can pay your FIXED rate loan off FASTER by paying more toward principle.

Economics ppl, economics



posted on Apr, 27 2012 @ 11:51 PM
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reply to post by TheRedneck
 


If the USA goes bankrupt, in which it will in the next four years,
then yes I see that statement very true. How will you be able to pay off a big loan if your nation goes bankrupt?



posted on Apr, 27 2012 @ 11:52 PM
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Also who is running political cover for any duchbag politician these days? Seriously what is it exactly you owe this politician or that your friend owes them? You know when ppl will stop making "off the record" statements? When we stop letting them make them.



posted on Apr, 27 2012 @ 11:55 PM
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reply to post by TheRedneck
 


Hmmm??? So, to take out student loans to finish school or not take out student loans... That's the question??? I'll risk it.... I guess I'm dammed if I do, I'm dammed if I don't, becuase I definitely need that education....haha



posted on Apr, 28 2012 @ 12:04 AM
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Well with the return of debtor's prisons and no limits on Usury ... yeah, the ONLY way for the wealthy to rip everyone off and keep an economy working is to "create demand" -- so how do you do that WITHOUT taxing the heck out of the top owners?

You either destroy lot's of things in a war, have a disaster like Katrina but on a larger scale with MORE accidental and purpose bungling due to crony capitalism, or you just DUMP THE DEBT on those who can't pay.

That would mean either work camps or institutionalization for the vast majority of us who are suddenly deadbeats.

>> I figured this out LONG before some wink, wink from a Senator. As soon as George Bush jr. was given the White House in 2000 I was worried about Neo-Feudalism.


>> We'll -- at least that's how I Interpret what this warning means.



posted on Apr, 28 2012 @ 12:10 AM
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reply to post by TheRedneck
 


I can't think of any reason, economically, that borrowing money would ever resort to "losing everything"

Almost all forms of conventional loans have interest locks. Credit cards for instance cannot exceed 30%, and most mortgages are fixed unless you're an idiot with an ARM.

Principles are not allowed to be effected by inflation ..... so if inflation went crazy, and I have a $200k house at 5% ... I'd be able to pay off my house, assuming I still had an income, much faster.


Perhaps he was speaking borrowing money for politics .. which honestly isn't a smart bet.



posted on Apr, 28 2012 @ 12:13 AM
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I think TRN comments about not having loans hanging over your head is very good advice - if you have the resources and where with all to arrange matters that way. But not many people do (at least in the USA). Here in Australia we are going for a surplus in 2013 (the only economy in the world to do so), have zilch inflation, about 4% unemployment with Queensland and Western Australia going gang busters economically (10% growth rates! all thanks to China wanting our minerals for their manufacturing and Northern Territory land to grow food for their people). The USA is still climbing out of the hole her banking elites (with their derivative cowboys) put her in during the GFC. And no one was held accountable for that. NO ONE. They just increased the bonuses they paid themselves. Poor Obama (and ipso facto the North American middle classes) inherited the Shrub's economic mess. If I was living in your country I would get rid of all my debts and expenses asap and DIVERSIFY my portfolio. Learn to live within my means (sorry I don't mean this to patronize people) and start to enjoy the simple pleasures of life (I pretty much do this now anyway).



posted on Apr, 28 2012 @ 12:19 AM
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Originally posted by Pelvi
reply to post by jakeistheone
 


It may mean that our currency will be highly devalued, and that 1000 would turn to say 15000. Making 15000 with no job because there are no jobs in this situation would be impossible, so therefore everything would be repossessed in order to get the money back.

just a guess btw


Actually this is wrong, If the dollar is devalued it will be much easier to pay off debt. If the dollar is devalued earning 1000 will be much easier, because pay will increase with the inflation. The amount owed on a contract cannot be increased simply due to inflation. Interest on a loan is what the lender agreed to in exchange for their risk of inflation. What major inflation will mean is your ability to get a loan of any type will be almost impossible because the risk of further major inflation will be to great for any sane lender to want to take on.

Basically with inflation savers get screwed and debtors benefit. With deflation savers win and debtors lose out.

Keep in mind capital is what drives the economy, it is needed to create jobs - so screwing savers is bad for everyone.

Personally I hope we go the deflation route, but so far the Fed has been dead set against it. Of course they could be wising up and realizing inflation won't accomplish anything and may actually be worse as we will lose reserve currency status, which actually is a huge advantage we have over other nations.

One thing I am nearly certain of, in some areas like real estate deflation is still all but guaranteed. Interest rates can't stay this low because the market is going to force them higher if we do not significantly decrease our deficit soon. Of course decreasing our deficit means cutting government spending which means more unemployed and admitting we are in a depression. Basically bottom line is the governments ability to hide the depression we are in by borrowing money will soon be out of its control.

Maybe the senator knows deflation is the route we will take. Maybe he just knows the economy is going to go in the tank soon and taking on any debt is a bad idea. Maybe he knows that after the election austerity measures have already been agreed to and will be implemented.

Whatever he knows, I agree with the statement now is not a good time to be taking out a loan.





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