World on the verge of an economic collapse says Soros

George Soros, like him or not, is a smart guy. He is privy to information that most of us are not. Is he right? Time will tell. Is he worried? Maybe he is, if he is buying up grain elevators and farm land then that is a sign of his worry. If he is in equities and paper assets, then he isn't worried. If he buys gold its because he sees the opportunity to make a profit. Same for silver, which is looking very bearish now. We'll see what happens to silver after mid July.

If paper/ fiat currency becomes massively devalued, it won't matter what interest rate financial institutions/ money lenders charge. it will not be enough to make a profit from that business because they will be trading worthless currency. I'm a firm believer in tangible asset value. Of which we have an abundance in the USA. By hook or by crook, we have a great piece of land to call home here in the Americas. Especially in the US. We have land, food, water. Disregard globalism for a moment, if the USA had to "circle the wagons" for who knows what reason, we'd have all the ingredients to be self sufficient, that is if we can somehow stay united.

If the present currency system recovers, then we'll be ok because we have some really good "capitalists" here who will make sure we don't get left behind. I don't know of any country which isn't undergoing some type of austerity program these days, either tacit or not. Even in the wealthy oil producing countries of Norway, Saudi Arabia and Iran, the economy is an issue. Perhaps China is the one exception, but its hard to get the truth from that government (see post on the magical levatating Chinese road construction executives). You'd think the CCP would have learned by now that western propaganda methods are way more effective than their cold war era technology. China needs a good ad agency, rather than doing things "in house."

I digress. Barring the imminent Armageddon, we'll make it through this recession. The old days are over, the new days are to come. Keep your head up, be objective, be informed, be prepared, and most importantly get in better health because no matter what comes next, you do not want to be sick, in pain and/or debilitated in any way if you can help it. Times will be hardest for those who are sick or debilitated in any stressful situations to come. Money or not, gold or not, food or not, you need your health first.

reply to post by surrealist


Dont believe anything that comes out of his mouth. What needs to happen is good freedom loving people need to get out there and beat the # out of the state employed blood suckers that want something for nothing.

Originally posted by stevooo
reply to post by surrealist

 

Dont believe anything that comes out of his mouth. What needs to happen is good freedom loving people need to get out there and beat the # out of the state employed blood suckers that want something for nothing.

Yes, those darn people who work and expect to be compensated according to their contracts. They should be beaten in the streets by freedom lovers!

reply to post by TheWanderer01


He may have some valid points, but the real problem is with Europe and the U.S. Asia will be fine, I believe

Originally posted by stevooo
reply to post by surrealist

 

Dont believe anything that comes out of his mouth. What needs to happen is good freedom loving people need to get out there and beat the # out of the state employed blood suckers that want something for nothing.

Being employed by the goverment does not, by itself, make someone deserving of that. Come on

Portugal in more trouble...

www.bbc.co.uk...

The credit ratings agency Moody's Investors Service has downgraded Portugal's debt to junk status.