[eastbay]

$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('smallpoxgirl', ' ') I don't mean this confrontationally at all - What would you do Monte? If you were the fed chairman, what would you do right now?

[MonteQuest]

$this->bbcode_second_pass_quote('eastbay', ' ')With the answer to that someone could make a few bucks. My suspicion is that Peter Schiff's scenario is the likely outcome and one should, in addition to all other prudent preparations, care for any money they might have at least partially (maybe more than partially) as he suggests.

[eastbay]

$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('eastbay', ' ')With the answer to that someone could make a few bucks. My suspicion is that Peter Schiff's scenario is the likely outcome and one should, in addition to all other prudent preparations, care for any money they might have at least partially (maybe more than partially) as he suggests.

[Jotapay]

I completely agree with Monte, Eastbay, Ron Paul, Dennis Kucinich, and others.

The answer is to dissolve the Fed and return control of the US money supply to the US treasury and US congress, as mandated by the constitution, versus the US money supply being controlled by foreign banking families and domestic oligarchs who own the Federal Reserve. We lost at least two presidents to assassination who tried to do this, so it isn't exactly easy. The banking families are interested in keeping their power, obviously. I guess once your families have financed at minimum a dozen world wars on both sides, you feel like you have some leverage and can do whatever you want.

[smallpoxgirl]

I guess I don't share the enthusiasm that a lot of folks have to gold backed currencies. It's really all about creating something that doesn't move and will serve as a consistent medium of exchange. Gold is really no different from anything else in that way. It's just about as abstract as paper currency. The problem that silver and gold as a currency has always been one of hoarding. The rich tend to hoard all the currency and then there end up being big segments of the economy that have to resort to bartering because they can't get access to currency. In a paper currency system, that problem can be avoided because the supply of circulating currency can be more or less controlled. Also it's pretty hard to justify the ecological devastation that goes with hard rock mining, if all we're doing with it is using it for currency. Paper is way less destructive.

[MonteQuest]

$this->bbcode_second_pass_quote('Jotapay', ' ')
The answer is to dissolve the Fed and return control of the US money supply to the US treasury and US congress, as mandated by the constitution, versus the US money supply being controlled by foreign banking families and domestic oligarchs who own the Federal Reserve.

[MonteQuest]

$this->bbcode_second_pass_quote('smallpoxgirl', ' ')The problem that silver and gold as a currency has always been one of hoarding. The rich tend to hoard all the currency and then there end up being big segments of the economy that have to resort to bartering because they can't get access to currency. In a paper currency system, that problem can be avoided because the supply of circulating currency can be more or less controlled.

[mos6507]

$this->bbcode_second_pass_quote('MonteQuest', '
')Yup. An excerpt from my book, Madmen at the Helm:

[Snowrunner]

$this->bbcode_second_pass_quote('smallpoxgirl', 'I') guess I don't share the enthusiasm that a lot of folks have to gold backed currencies. It's really all about creating something that doesn't move and will serve as a consistent medium of exchange. Gold is really no different from anything else in that way. It's just about as abstract as paper currency.

[MrBean]

$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('smallpoxgirl', 'I') don't mean to pick Monte, but your post seems a little self contradictory.

On the one hand, you're saying that the fed won't be able to effectively add liquidity and we'll remain in a deflation like the Japanese did. On the other you're saying that the fed will be too successful at adding liquidity and will create run away inflation. You've hit momma bear and poppa bear. Kinda implies there must be an opening for baby bear and getting the liquidity just right.

[MrBean]

$this->bbcode_second_pass_quote('perdition79', '')$this->bbcode_second_pass_quote('Jotapay', '1'). Yes but we grow and produce more than Iceland does. We grow more crops than any other country. But if we can't import oil with a worthless currency, the tractors and fertilizer won't be there for the farmer.

[MrBean]

$this->bbcode_second_pass_quote('Jotapay', 'M')onte is two steps ahead of the present. But Monte, if this absolutely massive monetary expansion breaks out onto the consumer level, good luck stopping it. Trying to stop it will produce a whip-saw roller coaster ride for sure.

[MrBean]

$this->bbcode_second_pass_quote('smallpoxgirl', 'I') guess I don't share the enthusiasm that a lot of folks have to gold backed currencies. It's really all about creating something that doesn't move and will serve as a consistent medium of exchange. Gold is really no different from anything else in that way. It's just about as abstract as paper currency. The problem that silver and gold as a currency has always been one of hoarding. The rich tend to hoard all the currency and then there end up being big segments of the economy that have to resort to bartering because they can't get access to currency. In a paper currency system, that problem can be avoided because the supply of circulating currency can be more or less controlled. Also it's pretty hard to justify the ecological devastation that goes with hard rock mining, if all we're doing with it is using it for currency. Paper is way less destructive.

[MonteQuest]

$this->bbcode_second_pass_quote('mos6507', '')$this->bbcode_second_pass_quote('MonteQuest', 'Y')up. An excerpt from my book, Madmen at the Helm:

[threadbear]

$this->bbcode_second_pass_quote('smallpoxgirl', ' ')In a paper currency system, that problem can be avoided because the supply of circulating currency can be more or less controlled. Also it's pretty hard to justify the ecological devastation that goes with hard rock mining, if all we're doing with it is using it for currency. Paper is way less destructive.

[oowolf]

It was only 2 months ago, Greenie was getting his knuckles rapped for driving rates so low! Welcome to Wonderland.

[glowring]

DAZZLE THEM WITH BS. Whatever they say is a lie.

the truth is they are trying to make it look like they are saving the country while in reality they are destroying it on purpose. thats the facts, man.

[perdition79]

$this->bbcode_second_pass_quote('MrBean', 'I')'m very glad you work in the fertilizer industry, with your expertize it's sure to go down ASAP... phosphate is mined, nitrogen made from NG.

[JoeW]

$this->bbcode_second_pass_quote('smallpoxgirl', 'B')reaking news. The fed has cut it's rate target to from 0 to 0.25%.