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Originally posted by biggmoneyme
so it's okay if i quit my job and just [SNIP] all day?edit on 1-6-2012 by Gemwolf because: Removed T&C violation.
Originally posted by biggmoneyme
so it's okay if i quit my job and just [SNIP] all day?edit on 1-6-2012 by Gemwolf because: Removed T&C violation.
As defaults in governments and banks come to fruition, we risk a closure of the stock markets entirely and a closure of the banking system as occured in Argentina in 2001, Russia in 1998, and Brazil in 1991...
Originally posted by daskakik
I'd like to point out slide number 28:
As defaults in governments and banks come to fruition, we risk a closure of the stock markets entirely and a closure of the banking system as occured in Argentina in 2001, Russia in 1998, and Brazil in 1991...
So its happened 3 times in the last 21 years? Those countries are still here and all three are actually doing pretty good. Did I miss something?
Originally posted by daskakik
reply to post by 00nunya00
I'm not saying that people would not be affected but some of the slides are labeled "the end of the world" which I think is overly dramatic and these three examples prove that it isn't the end of the world.
Russian inflation in 1998 reached 84 percent and welfare costs grew considerably. Many banks, including Inkombank, Oneximbank and Tokobank, were closed down as a result of the crisis.
[...]Many citizens were stocking up for bad times and throughout the country shop shelves were being emptied, leaving a shortage of even the most basic items, such as vegetable oil, sugar or washing powder.
[...]The confidence of crisis prevention ceased to exist as millions of people lost their life savings from the bank closures. On 7 October 1998, demonstrations were held in many cities[...] [S]elect military units were placed in a state of readiness.
[...]As the crisis deepened, regional governors had been introducing emergency measures: In Krasnoyarsk Krai in Siberia, governor Aleksandr Lebed, had signed a resolution to hold down prices "using administrative methods", a television report said. The authorities in the far eastern city of Vladivostok had banned deliveries of food to areas beyond the port city, and there had been talks of introducing rationing there.
Russia bounced back from the August 1998 financial crash with surprising speed. Much of the reason for the recovery is that world oil prices rapidly rose during 1999–2000 (just as falling energy prices on the world market helped to deepen Russia's financial troubles), so that Russia ran a large trade surplus in 1999 and 2000.
Also, since Russia's economy was operating to such a large extent on barter and other non-monetary instruments of exchange, the financial collapse had far less of an impact on many producers than it would had the economy been dependent on a banking system.
Originally posted by Flavian
reply to post by DaughterOfARevolver
You know how to smelt metals then? And then cast it to make goods? Or even which rocks to smelt with?
Not trying to put you off, just showing it isn't that simple in the vision you paint.
And that is merely one aspect of it.......
Originally posted by 00nunya00
Depends on your definition of "end of the world". Literally no more civilization? Of course not. The most awful times anyone has ever seen in recent history? Absolutely.
Keep in mind, you're talking about three isolated examples that were not interlinked with the global banking sector on such a scale as today.
Ain't no oil in Europe or the US (with any significant ability to extract it within a decade), ain't no barter either, and 2008 showed the world exactly how dependent on the banking system the Western nations are. Now take all of those countries and give them a global recession/depression to try to recover in, and tell me how the story ends.
Originally posted by 00nunya00
reply to post by daskakik
Um.....okay, so you disagree with his choice of words. Many do not.
I disagree with your choice of words in saying it will be "tough times." Oh well. Not really important. The facts still stand.
Originally posted by FissionSurplus
reply to post by biggmoneyme
I can't help but think that all the publicity and television shows about the "Mayan Prophecy" and Nostradamus quatrains were done in order to prepare our psyches to accept a disaster of any kind....
Originally posted by daskakik
I'd like to point out slide number 28:
As defaults in governments and banks come to fruition, we risk a closure of the stock markets entirely and a closure of the banking system as occured in Argentina in 2001, Russia in 1998, and Brazil in 1991...
So its happened 3 times in the last 21 years? Those countries are still here and all three are actually doing pretty good. Did I miss something?