You really think the USA (and Europe) aren't bankrupt?

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You really think the USA (and Europe) aren't bankrupt?

Postby NewYork, New York » Thu Sep 12, 6:17 pm

Read these 3 simple statistics.

Total FDIC insurance 25 Billion

Total US bank deposits 19,283 Billion

Total US bank Derivatives 297,514 Billion

Similar numbers exist for Europe, Asia and the rest of the planet.

Simply unsustainable, no matter how you want to spin it.


Wake up. Buy gold

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Re: You really think the USA (and Europe) aren't bankrupt?

Postby Dazzler » Thu Sep 12, 6:31 pm

NewYork, New York wrote:Read these 3 simple statistics.

Total FDIC insurance 25 Billion

Total US bank deposits 19,283 Billion

Total US bank Derivatives 297,514 Billion

Similar numbers exist for Europe, Asia and the rest of the planet.

Simply unsustainable, no matter how you want to spin it.


Wake up. Buy gold


Can you eat gold?

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Postby Bohannon » Thu Sep 12, 6:55 pm

Yeah, yeah, yeah and California is bankrupt 3 years ago. I think we have had enough Mr. Magooesque financial advice from Chicken Little.


<img src="http://www.kitco.com/LFgif/au0365nyb.gif"></img>

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Postby Hobie » Thu Sep 12, 7:17 pm

we always live in the red , even when we are in the black ; its temporary . credit for home and country , a global way of life ." I`ll gladly pay you Tuesday for a hamburger today ." whimpy

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Postby Bohannon » Thu Sep 12, 10:00 pm

I tried to teach him several times over the years but I think Mr Magoo still thinks "bankrupt" means "financial difficulties".

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Postby NewYork, New York » Fri Sep 13, 5:26 pm

Bohannon wrote:I tried to teach him several times over the years but I think Mr Magoo still thinks "bankrupt" means "financial difficulties".


You have it all wrong Bo.

It is the other way around.

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Postby Bohannon » Fri Sep 13, 5:48 pm

NewYork, New York wrote:
Bohannon wrote:I tried to teach him several times over the years but I think Mr Magoo still thinks "bankrupt" means "financial difficulties".


You have it all wrong Bo.

It is the other way around.



Therein lies your problem "financial difficulties" does NOT, in any way, mean bankrupt. Educate yourself please. Bankrupt may be one of many results of financial difficulties....what is it you do for a living again?

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Postby Hobie » Fri Sep 13, 7:27 pm

"financial difficulties" stems from that stuff they call Money / currency

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Postby Dazzler » Mon Sep 16, 4:17 pm

NewYork, New York wrote:
Bohannon wrote:I tried to teach him several times over the years but I think Mr Magoo still thinks "bankrupt" means "financial difficulties".


You have it all wrong Bo.

It is the other way around.


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Postby Dazzler » Mon Sep 16, 4:22 pm

If I'd spent $10000 on gold when Nork suggested it, I'd now have lost about a thousand.

Where does he get these almost supernaturally accurate tips?

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Postby NewYork, New York » Mon Sep 16, 8:22 pm

Dazzler wrote:If I'd spent $10000 on gold when Nork suggested it, I'd now have lost about a thousand.

Where does he get these almost supernaturally accurate tips?


Funny, because I own gold in several different ways and I am ahead on all positions. I am not giving you a "tip". This is a long term view of the economy, not a trading view.

I am telling you how to try to preserve some of your wealth with a future of economic turbulence, instability and inflation. A future with a good chance of being the worst economic disaster of our lives.

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Postby Bohannon » Mon Sep 16, 8:34 pm

<img src="http://images.elephantjournal.com/wp-content/uploads/2011/08/the-sky-is-falling.jpg"></img>


.....and California declared Bankruptcy three years ago...New York, NewYork was right all along!!! (not)

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Postby Dazzler » Tue Sep 17, 6:17 am

NewYork, New York wrote:
Dazzler wrote:If I'd spent $10000 on gold when Nork suggested it, I'd now have lost about a thousand.

Where does he get these almost supernaturally accurate tips?


Funny, because I own gold in several different ways and I am ahead on all positions. I am not giving you a "tip". This is a long term view of the economy, not a trading view.

I am telling you how to try to preserve some of your wealth with a future of economic turbulence, instability and inflation. A future with a good chance of being the worst economic disaster of our lives.


And here we see the tactic of the biggest liabilities, losers and parasites of the trading floor: if your investment tanks, tell everyone it was long-term.

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Postby alpha » Tue Sep 17, 1:47 pm

Dazzler wrote:
NewYork, New York wrote:
Dazzler wrote:If I'd spent $10000 on gold when Nork suggested it, I'd now have lost about a thousand.

Where does he get these almost supernaturally accurate tips?


Funny, because I own gold in several different ways and I am ahead on all positions. I am not giving you a "tip". This is a long term view of the economy, not a trading view.

I am telling you how to try to preserve some of your wealth with a future of economic turbulence, instability and inflation. A future with a good chance of being the worst economic disaster of our lives.


And here we see the tactic of the biggest liabilities, losers and parasites of the trading floor: if your investment tanks, tell everyone it was long-term.


Another inherent problem with owning so much gold is it takes very little lead to separate someone from all their gold and other valuables, which for the most part isn't insurable.

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Postby Banks » Tue Sep 17, 4:35 pm

NewYork, New York wrote:Funny, because I own gold in several different ways and I am ahead on all positions.

Are you buying it now? And hurry up with your answer...

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Postby Rudy » Wed Sep 18, 7:14 pm


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Postby Hobie » Wed Sep 18, 7:17 pm

a new meaning to the term " Play Ball "

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Postby NewYork, New York » Thu Oct 17, 7:48 pm

Still think the USA and Europe aren't bankrupt??

Read it and tell me just how wrong I am.

The International Monetary Fund Lays The Groundwork For Global Wealth Confiscation
By Global Research News
Global Research, October 17, 2013Theme: Global Economy, Poverty & Social Inequality 29 7 1
61 by Bill Frezza

The International Monetary Fund (IMF) quietly dropped a bomb in its October Fiscal Monitor Report. Titled “Taxing Times,â€￾ the report paints a dire picture for advanced economies with high debts that fail to aggressively “mobilize domestic revenue.â€￾ It goes on to build a case for drastic measures and recommends a series of escalating income and consumption tax increases culminating in the direct confiscation of assets.

Yes, you read that right. But don’t take it from me. The report itself says:

“The sharp deterioration of the public finances in many countries has revived interest in a “capital levyâ€￾— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability. The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). … The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away. … The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth. (page 49)â€￾

Note three takeaways. First, IMF economists know there are not enough rich people to fund today’s governments even if 100 percent of the assets of the 1 percent were expropriated. That means that all households with positive net wealth—everyone with retirement savings or home equity—would have their assets plundered under the IMF’s formulation.

Second, such a repudiation of private property will not pay off Western governments’ debts or fund budgets going forward. It will merely “restore debt sustainability,â€￾ allowing free-spending sovereigns to keep tapping the bond markets until the next crisis comes along—for which stronger measures will be required, of course.

Third, should politicians fail to muster the courage to engage in this kind of wholesale robbery, the only alternative scenario the IMF posits is public debt repudiation and hyperinflation. Structural reform proposals for the Ponzi-scheme entitlement programs that are bankrupting us are nowhere to be seen.

If ever there were a roadmap for prompting massive capital flight and emigration of productive citizens toward capitalism’s nascent frontiers in Asia, this is it.

“The IMF justifies its tax increases by highlighting trends in income inequality along with a claimed decline in the progressivity of most income tax regimes. Using “perceived equityâ€￾ (otherwise known as “envyâ€￾) as the key metric motivating tax policy, the report intentionally conflates tax rates with tax revenue, lamenting a decline in the top marginal income tax rates paid by the highest earners. Never mind that these high earners have been forking over more money, a higher percentage of their gross income, and a larger share of aggregate national tax revenue in recent years. It also ignores the Laffer Curve effects that are clearly visible in the data. As for incentive, the report pays no heed to the idea that wealth and income can only be taxed if someone is motivated to create it.â€￾

Read complete article at

http://www.forbes.com/sites/billfrezza/ ... fiscation/

Copyright Bill Fressa, Forbes.com 2013

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Postby Bohannon » Thu Oct 17, 8:04 pm

You still haven't learned the meaning of the word have you? You called California "bankrupt" three years ago. The democrats have been in charge and we now have a surplus...got anything to say? Didn't think so.

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Postby Generous_J » Fri Oct 18, 10:12 am

That's an interesting article. It's what they did to the Greeks.

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Postby Dazzler » Fri Oct 18, 10:36 am

Generous_J wrote:That's an interesting article. It's what they did to the Greeks.


Cyprus too. They blamed soshulism for the theft then. And the only protest was from the far right.

Work that one out if you can.

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Postby Banks » Fri Oct 18, 1:26 pm

Dazzler wrote:
Generous_J wrote:That's an interesting article. It's what they did to the Greeks.


Cyprus too. They blamed soshulism for the theft then. And the only protest was from the far right.

Work that one out if you can.


NYNY will be along shortly... if anyone can make short work of it, he can...

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Postby Generous_J » Fri Oct 18, 2:38 pm

Banks wrote:
Dazzler wrote:
Generous_J wrote:That's an interesting article. It's what they did to the Greeks.


Cyprus too. They blamed soshulism for the theft then. And the only protest was from the far right.

Work that one out if you can.


NYNY will be along shortly... if anyone can make short work of it, he can...


Not much time for your preparatory wank then.

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Postby Banks » Fri Oct 18, 3:28 pm

Generous_J wrote:
Banks wrote:
Dazzler wrote:
Generous_J wrote:That's an interesting article. It's what they did to the Greeks.


Cyprus too. They blamed soshulism for the theft then. And the only protest was from the far right.

Work that one out if you can.


NYNY will be along shortly... if anyone can make short work of it, he can...


Not much time for your preparatory wank then.

How was yours?

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Postby NewYork, New York » Fri Oct 18, 7:23 pm

Bohannon wrote:You still haven't learned the meaning of the word have you? You called California "bankrupt" three years ago. The democrats have been in charge and we now have a surplus...got anything to say? Didn't think so.


"We now have a surplus."

Two questions. Did you even bother to read the article?

Have you lost your mind? (to believe the USA has a "surplus" is to be willfully ignorant and totally delusional)

Whether you agree or disagree with my original statement, you cannot in any way convince me or anyone else the USA has a surplus. If you are speaking of the state of California, same exact thing.

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Postby NewYork, New York » Fri Oct 18, 7:25 pm

Dazzler wrote:
Generous_J wrote:That's an interesting article. It's what they did to the Greeks.


Cyprus too. They blamed soshulism for the theft then. And the only protest was from the far right.

Work that one out if you can.


This blueprint for confiscation was written by the IMF.
Have you stopped to think (I know this is an oxymoron for you) for even a second; why would the IMF put together such a plan in the first place?

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Postby Bohannon » Fri Oct 18, 7:37 pm

NewYork, New York wrote:
Bohannon wrote:You still haven't learned the meaning of the word have you? You called California "bankrupt" three years ago. The democrats have been in charge and we now have a surplus...got anything to say? Didn't think so.


"We now have a surplus."

Two questions. Did you even bother to read the article?

Have you lost your mind? (to believe the USA has a "surplus" is to be willfully ignorant and totally delusional)

Whether you agree or disagree with my original statement, you cannot in any way convince me or anyone else the USA has a surplus. If you are speaking of the state of California, same exact thing.



hey dumbass, I never said that the USA has a surplus. I will try to teach you about res judicata, real estate, politics etcetera but I will NOT teach you reading comprehension.


Oh and Oxymoron

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Postby islandgurl » Fri Oct 18, 8:05 pm

It's quite plain and simple, like Bo's mind. This country is 'cripplingly' fucked.

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Postby Dazzler » Sat Oct 19, 12:04 am

NewYork, New York wrote:
Dazzler wrote:
Generous_J wrote:That's an interesting article. It's what they did to the Greeks.


Cyprus too. They blamed soshulism for the theft then. And the only protest was from the far right.

Work that one out if you can.


This blueprint for confiscation was written by the IMF.
Have you stopped to think (I know this is an oxymoron for you) for even a second; why would the IMF put together such a plan in the first place?


What's an oxymoron?

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Postby chichi123 » Sat Oct 19, 12:05 am

In regards to the gold, I'm scrapping tomorrow.


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