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Originally posted by thelongjourney
And this is why people make fun of conspiracy theorists. Mathematics says nothing like "it should have happened by now", and anyone who understands basic economics never thought the US was close to economic collapse. The debt limit has ALWAYS been raised, were actually WITHDRAWING troops from Iraq.
I know I'm preaching to the wrong choir here. I am just so tired of people fear mongering over a collapse that never comes. I know you guys want it so bad, oh so bad. But its not going to come. Well be well into the next economic boom and people will still be on ATS telling us economic collapse will happen any day.
Originally posted by thelongjourney
What is so hilarious about your comment is that we would be the next Zimbabwe if conspiracy theorists had their way and we "ended the fed" and let Congress control monetary policy. That is exactly how Zimbabwe ended up going into a inflationary spiral - their central bank stopped being autonomous and decisions for monetary policy were placed in the hands of elected leaders. And since elected leaders always want to get re-elected, they made monetary policy decisions for short term gain and long term disaster.
The situation in the US is completely different, in spite of conspiracy theorists. The federal reserve us autonomous and elected leaders have oversight authority but cant actually make monetary policy. The fact that you compare the two is laughable.
Originally posted by Talliostro
reply to post by lucid eyes
Last time I checked, we had a conservative/right wing chancelor(ress? )
Was there a coupe in Germany and I didn't notice it?
Or do you confuse Germany with France...
Originally posted by Hithe Merinos
Bundesbank Official Statement On Gold Repatriation
From the Bundesbank:
By 2020, the Bundesbank intends to store half of Germany’s gold reserves in its own vaults in Germany. The other half will remain in storage at its partner central banks in New York and London. With this new storage plan, the Bundesbank is focusing on the two primary functions of the gold reserves: to build trust and confidence domestically, and the ability to exchange gold for foreign currencies at gold trading centres abroad within a short space of time. The following table shows the current and the envisaged future allocation of Germany’s gold reserves across the various storage locations:
Also I bet transporting 200 billion right now would be highly risky so I am guessing this is just the first of many calls for their gold.... It is interesting that Germany had a hard time getting to actually see the gold.
Originally posted by reeferman
Originally posted by pacifier2012
Man your loopy
have you ever looked into that?
or are you just not mentally ready to take the red pill?
McVeigh @ OWS
remember, your ignorance is their strength.
Originally posted by CrikeyMagnet
Originally posted by tide88
reply to post by hawkiye
What do you think the EURO is backed by, or any other currency for that matter. In fact, the US have more gold reserves than any other country and it isn't even close. 8 thousand tons, compared to Germany at 3k.
The US dollar is the international standard (right now) from which the value of most other world currencies are derived. The US dollar is not tied to its gold reserves, but rather to the global perception of its value. The threat to the US dollar comes from countries returning to a gold standard (or in any way pulling out of the US-dollar-standard), thereby reducing the perceived value of the US dollar. If no one is willing to take it in trade (or requires tremendous amounts of it in trade), then it becomes worthless. You could still pay other countries with gold, though... it just wouldn't help anyone with the little slips of paper that no one wants.
Picture "wheelbarrows full of cash" on a grocery run. It would not be the first time for such a collapse.
Originally posted by milkyway12
America would be stupid to give it back, even if we did have it.[...]