If this is true, the whole economic system is KABOOM for good

Originally posted by chiponbothshoulders
reply to post by Emptiness Dancing

 

Buy seeds,find a good water source.

You can't eat gold or silver.

Oh yeah,be awesome to one another too,that will probably help.

It would have helped a long time ago,but we have nearly all been reduced to the same level of evil,greedy mean little critters which are causing what is coming.

In a way,those of us who practice...."trickle down moral sets".... deserve it

Already been doing that for some time now.

Something evil this way comes. TPTB may kick the can down the road with another round of the proposed Quantitative Easing 2.0 to eat up those toxic assets. Not sure how that's gonna cover the ones that have been sold as many as 20 times over. Sooner or later this ponzi scheme will collapse. I just think it's a whole lot bigger than any of us even imagined.

reply to post by Emptiness Dancing
Awesome Bro,or Sis..?

My brother keeps asking me when I'm gonna plant all those seeds I have,the reason is that they are about the easiest thing to carry there is,a complete dehydrated garden,I guess one could say.

I have enough rice and beans to last about 6 months.

Things could be much worse,like having a fridge and freezer full of food,and only enough gas to run the jenny for a short time.

My personal economic system went KABOOM a long time ago.

Anyway,Awesome!!!.

This is a shameless bump.

This article and the forum discussion following is so important I can't beleive it's not getting the attention it deserves.

I believe it may be because people don't quite understand what is happening, as it is complicated.

The short story:

Banks sold consumers predatory/junk loans
Banks then sold the loans to investors by paying off Moodys ratings for a AAA rating even though they were all junk.
Banks then sold the same house to different investors, over and over and over again.

They banks were paid when they sold the loans to investors. They have already been paid! Again and Again.

Then when the investments (MBS and CDOS went sideways) they collected the losses from the insurance of the portfolios.

Now it's free for all "asset grab" to take the house back and sell it again!

Wake up!!!!!!!


Moody's inter employee email:

"I hope we are all rich and retired when this house of cards fails" (Dec 2006)

Wall Street Journal PDF

I agree completely with the fraud and ever since I have caught on I have been trying to "get mine".

For anyone who is tired of paying their loan on bike, car, house, what have you there is a way (loophole) in the finance system.

For example my personal situation is that my first ever loan was for a 2008 yamaha R1 sport bike, so needless to say I was very new to the whole loan and financing game. I had a great credit-score though because I had virtually no debt and made great money sooo they approved me for 15k.

Well the finance manager at the Yamaha dealer come to find out had tricked me by financing me through a Yamaha credit card instead of a secured loan. Also the card was on a promotional 8% rate for 2 yrs but of course I was told none of this and it was buried in the mounds of redundant papers you have to sign and initial so I was under the impression as he told me verbally I had a secured loan at 8% for 7 years through a bank.

All was fine and dandy until that 2 years went by and my minimum payment went from 150 a month to 400 a month and my interest rate went from 8% to 20%!!!!

So naturally I called Yamaha and tried to negotiate a more realistic payment and interest rate. They REFUSED to work with me on this. So from that point on I stopped paying them a cent and ignored all their calls. After that I decided to open a "will and trust" account and put my bike, house, and bank account in that trust account. You can put any property in a trust valued over 500$ regardless of whether or not you own it out right.

So I put those items in a trust account which by LAW cannot be seized for any reason so if REPO somehow managed to get my bike the courts would demand they return the property.

Here is where things get a bit tricky regarding the finance and loan business. A debtor is not required by law to report your debt to your credit score. They will tell you are but they are full of #, they voluntarily do it. Of course Yamaha reported the default on debt to the creditors and my credit score went down so oh noes im screwed ......anyhow what they ALSO do is look for someone (3rd party) to BUY that debt from them so they can wash their hands of it, and then the 3rd party comes after you. Well there is a severe fundamental flaw with this and that is I, or the debtee never signed a contract agreeing to pay any monies to a "3rd party" so essentially what that 3rd party is doing is illegal as all hell but 99% of people get scared and pay instead of get a hold of a lawyer who can send them one letter which will get them to stop calling immediately.

So continuing on AFTER about 6 to 9 months of no payment on that debt the original debt holder sells your debt and is done with the account at which point they can no longer "report" that debt as bad on your credit so then you dispute and it may take sever attempts to dispute but more than likely you can get your credit wiped of the blemish.

Also an interesting thing to note is, when you get financed for a property, in my case the bike, the title is made out to two people, the debtor and the debtee. (now im not far enough long in the process right now to know 100% for sure from experience but im close) when the debtor gets the money for that bad debt and closes the account they no longer have rights to the title in which case the only name left on the title to the property is YOU, and apparently after all is done and said they send you the title in the mail at which point you now on paper own free and clear the property.

This is what Donald Trump did, he would buy blocks and blocks of property and pay only the property tax, he would never pay the loan on the property. He would then let it go into default and put the properties in his "trust" account at which point those properties could no longer be seized from him.

With a blowtorch, some clay and a scale, one can also make their own gold coins - of any weight.








would you care to elaborate on this?

The whole system was KABOOM! when they started with the whole dealing in non-excisting money.

Originally posted by bigfatfurrytexan
I foresee a day when we will begin to trade in violence, not dollars.

I hate to think about it.

If you have your money in a bank you are a fool.

Our fiat currency is worthless no matter where it is.

Gold? Useless. Let others hoard it (for a while).

Silver? Priceless. Silver is one of the most important elements in existence, especially in colloidal form. It can cure ebola. Try this: get a fresh new jug of milk, open it up, dribble in about a teaspoon of colloidal silver, shake it up good, then leave it sitting out on your countertop and see how long it takes to go bad. As long as it doesn't evaporate, silvered milk lasts WEEKS without refrigeration and it tastes exactly the same. It's a natural preservative, a natural antibiotic, it stops heavy bleeding posthaste; why do you suppose they started making "silverware" out of silver? Because using it keeps you healthy. It's like living in a betadine bubble.

For every $1,300 ounce of gold you have laying around, you could instead have fifty-two $25 ounces of silver. Gold is just another scam, an overpriced thing-you-do-not-need. How much good did people's gold stockpiles do them when Roosevelt confiscated it all from We, the People in 1933? Of course, he also took everyone's silver too, but if you've already converted it into colloidal silver (and if you did NOT use a credit card to buy it), they won't even know you have it. "What are all those jugs of water?" "They're... jugs of water."

Let me quote from the (what else?) Executive Order that the world's actual rulers ordered Franklin Roosevelt to write in order to enable this confiscation; it's good for a laugh: "...the continued private hoarding of gold and silver by subjects of the United States poses a grave threat to the peace, equal justice, and well-being of the United States... appropriate measures must be taken immediately to protect the interests of our people... Your possession of these proscribed metals and/or your maintenance of a safe-deposit box to store them is known to the Government from bank and insurance records. Therefore, be advised that your vault box must remain sealed, and may only be opened in the presence of an agent of The Internal Revenue Service."

You know what happens to everything the IRS takes from you, right? It all, without exception, gets shoved into a bank somewhere in some other country. (Look at the back side of any check you've ever sent them and read the instructions they stamped on it.) In 1933, the IRS took America's gold and did the same thing with it. It did not go into Fort Knox... and this time around will be no different.

To hoard gold is to ignore history. It's utterly useless dead weight. If you want to hoard something, hoard water, hoard colloidal silver (in dark glass bottles stored in a dark place), hoard canned goods, hoard seeds, hoard instructional books, hoard clothing, hoard barnyard animals, hoard huge quantities of iodine (for the radiation), hoard practical things that will help you survive here in about a month when the SHTF. You really think anyone is going to give you a family-sized fried chicken dinner in exchange for a one-ounce gold coin once KFC is a thing of the past?? Dream on. But this is the important part: whatever you hoard, pay for it in cash only!! Or a money order if you have to mail-order it. No checks, no credit cards. If they'll track what books you buy at Barnes & Noble, they'll damn sure track everything else of value you buy too. Do not be deceived: they are out to get you. They just haven't done it yet.

Yet.

(EDIT: Dammit. Fell victim to an internet fraud, there. The quoted text is not from FDR's executive order #6102; someone apparently made it up. Safe deposit boxes were not sealed or seized by IRS agents. However, it was the Federal Reserve that received all that gold, giving people $20.67 an ounce for it. The sentiment still stands. Foreign banks took America's gold and gave us paper in exchange, and it's been gone ever since. Don't hoard gold!! Thank you.)

Yeah, like I'm going to fax in my signed mortgage documents to a stranger.

Originally posted by SoFuturisitic


With a blowtorch, some clay and a scale, one can also make their own gold coins - of any weight.

edit on 21-10-2010 by Exuberant1 because: (no reason given)

would you care to elaborate on this?

You forgot one thing that people need. Gold.

For the life of me people can not or will not understand that gold or any precious metal will be of no use to them when the system fall. Also those people who feel they will need to walk away from their mortgaged homes because of the system failure which would be "banking anarchy" might would want to reconsider that notion and stay put. As previously noted the whole financial arena is based on a mountain of scams built on top of each other, so who will be able to lay claims to any mortgage in order to foreclose in the chaos and where are they going to get the teeth to enforce foreclosures?

Do yall remember the so-called patriots of the 90s and what they said about banking? They called it a scam, more specifically a ponzi scheme but the masses believed otherwise and poo pooed the notion, now the rooster has come home to roost.

reply to post by Vitchilo


While it's quite difficult to argue anything he states, Denninger has been telling us everything is going down in flames tomorrow, for the last 5 years.

We all know that if we drive a car, there is a possibility that we'll be involved in an accident and become horribly disfigured, or even killed. We don't however, go around announcing that anyone with a car is going to be horribly disfigured or killed, do we?

Just because something is possible, or even probable, does not mean that something is definitely going to happen, and this is what I get from Denninger after the last few years of keeping up with him. He accurately identifies worse case scenarios, then tells us we're doomed to these scenarios.

Look back since mid '08 or so, and just count how many times he's emphatically stated that we're all going to be doomed when the market opens in the morning.

Don't get me wrong, I'm not saying the guy spews BS. Just that he's a bit of an alarmist, and rarely will societal suffering reach the levels he implies.

Originally posted by Julie Washington
This is a shameless bump.

This article and the forum discussion following is so important I can't beleive it's not getting the attention it deserves.

I believe it may be because people don't quite understand what is happening, as it is complicated.

I agree wholeheartedly, people don't understand and are relying on the very group who lied and cheated them to tell them everything is going to be alright which by the way they are doing at this moment.

Originally posted by Unit541
reply to post by Vitchilo

 

Look back since mid '08 or so, and just count how many times he's emphatically stated that we're all going to be doomed when the market opens in the morning.

Don't get me wrong, I'm not saying the guy spews BS. Just that he's a bit of an alarmist, and rarely will societal suffering reach the levels he implies.

I'm not trying to minimize your point but the housing industry was the big indicator of something being very very wrong and those signs presented itself in 2008. So in a way he was right. Even if the bottom don't fall until 2011 or 2012 we are still considered in the "endgame at this point".

reply to post by Chai_An
And the layers of fraud come with layers of contracts.

We are virtually armored with contractual laws and regulations.

But the armor serves to strip us bare,and bind us from mobility.

Slavery.

Originally posted by -PLB-
reply to post by butcherguy

 

Gold or other metals only have a "true" intrinsic value in a technologically developed society. The only other intrinsic value of gold is jewelry, an unnecessary luxury product that nobody cares about in situation you need to survive. In the past, gold was nothing more than a method to represent value. It is just as virtual as money is today. Money is just a bit more practical.

Where did you get that idea? Have you looked at the circuitry in your electronics lately? Gold is an excellent conductor and the electronics industry uses a lot of it.

Originally posted by chiponbothshoulders All those in charge need to do is shut off the lights,and most will go nuts within a day or so.

You really think so? Half the day is night and people didn't go 'nuts' before the lightbulb.
No gas for your car because the gas pumps are electric? I bet you have a bike somewhere that you can drag out & pedal. I don't have a bike but I have a couple ponies that I can put to work and there will be grass around since not many people are going to be mowing their lawn. Need something hauled you can throw together a buggy and haul it. Internet & cell phone out? throw together a crystal radio I know you have the parts you just have to build it McGuyver.
Still no fuel? How about making some wood alcohol from all that unused plant material from the lawn you won't mow - don't drink it though.

We have had so much handed to us 'ready made' that we as a society won't even try to make or do something for ourselves.

Originally posted by Vitchilo

The game was to move money under a scheme of deceit and fraud. First sell the bonds and collect the money into a pool. Second take your fees, third take what’s left and get it committed into “loans” (which were in actuality securities) sold to homeowners under the same false pretenses as the bonds were sold to investors. By controlling the flow of funds and documentation, the middlemen were able to sell, pledge and otherwise trade off the flow of receivables several times over — a necessary complexity not only for the profit it generated, but to make it far more difficult for anyone to track the footprints in the sand.

I have just started about a month ago getting into this economic disaster and fraud situation so I'm not familiar with all the terms yet. Can someone explain to me what this paragraph means in layman's terms? Please don't just write that they traded money that didnt exist etc.. im looking for a good explanation, thanks

I keep seeing comments about how people are planning to prepare for the collapse of the economy. As if the economy will collapse and everybody will be fending for themselves. That is true to a degree but I'm pretty sure that TPTB have had the date of this economic collapse pin-pointed for some time and they themselves have been preparing as well. When this economy collapses, its not going to be,"Oh that guy didn't prepare so he's screwed but good thing I have guns and seeds so Im fine." Its going to be martial law and the constitution will be thrown out the window. I've speculated that maybe all of this expensive and needless advancement in surveillance technologies and killing machines, which we have no real use for, are all going to be used against us. Your property will no longer belong to you. You will be arrested for being outside after hours. You will definitely have your guns taken from you, with force even. Of course its all speculation. The REAL thing people need to do besides thinking only of how himself will survive is learning how to really co-operate. There is a way out of all of this coming madness and it co-operation with each other and not falling for the trap of "everyman for himself." That ideology is the excuse for the imposing of martial law.

reply to post by bigfatfurrytexan

Violence is one way that the financial collapse could end, but that would only feed right back to what the power-hungry wanted in the first place. A weakness they can take advantage of.
Another way this could end, is with the people who no longer have bits of green paper to offer others, start to trade. The bartering system worked for centuries, why couldn't it work now? Granted, many cubicles would be forced to eject cogs of the machine, but creating for your own survival is so much more satisfying than punching a clock to support the ultra-greedy. Once random bits of green paper mean nothing to us, what are they left with?

I hope someone can answer my question here.

Lets just say the US economy goes into a very quick cascading collapse any reason and the dollar collapses...

What does this MEAN for the average man on the street? What does it mean for your job? Your pay slip?

More importantly, If any Australians could answer me what is inevitably going to happen here in Australia? We trade in the dollar, so if US dollar becomes worthless does that mean our dollar also crashes?

Will there be any point going to work? Everyone talks about what will happen to the banks, trade etc... I just want to know what happens to ME