The Great Depression Ii?

[Lxxx]

 

 

This isn't about me trying to be smart, it's about me having people rely on me to put a roof over their head and, in my opinion, I think we're in for very difficult times ahead so if I pay down as much debt as possible, leaving as much available income during times of high inflation, then I'm comfortable with that. If the sh*t really doesn't hit the fan then I've lost nothing by doing that.

 

I don't necessarily agree on diversification, it's a catch all phrase financial advisors use to talk away the fact they're going to lose their clients some money in some areas, and hopefully gain it back in others. I much prefer to fully research myself and put my chips on the areas I think seem the best bet, as opposed to spreading it around and accepting that I'll lose some of it.

 

 

stick a new roof on now over their heads numbnutz, then relax.

 

Thanks for that pearl of wisdom, your mum must be so proud of you, being the smartest boy in the class at school n all that.

[Alias]

[Lxxx]

 

 

Precisely, which is why it is certain to default at some stage.

[Slim]

Precisely, which is why it is certain to default at some stage.

 

It isn't certain at all. Those figures are hardly complete.

[Lxxx]

Precisely, which is why it is certain to default at some stage.

 

It isn't certain at all. Those figures are hardly complete.

 

 

So come on then brains, instead of poo-pooing everything, what do you think will happen, in your esteemed opinion?

[pongo]

Eventially the dollar will default as this cannot go on forever

 

@Luxx

 

Almost 70% of the US national debt is owed to .... the US. The US owes itself, in various guises, most of the money. That makes it a very different proposition vs say Greece with respect to the potential for default. It leaves open the possibility of some 'third way' other than default.

 

These 2 charts illustrate the appx breakdown using recent figures.

 

 

 

The second chart is obviously a little out of date but confirms the broad picture.

[Chinahand]

Very interesting Pongo, thanks for that info.

 

Also looking at the figures which compare the US to a household - its only got about debt to income of about 7 times. And it will hold that debt on terms far more favourably than a household - I wonder what the average maturity/duration is of US debt; and the average rate - I imagine a lot of it will be long term. Many many households will have larger debts when they take on a mortgage etc.

 

Comparing it with a credit card isn't really right. The interest payments will be far far lower!

 

No doubt the US has to either cut spending or raise taxes, or more likely do both - the problem is that the politicians aren't being honest with the electorate about the generational change that needs to be brought about to bring things into balance.

 

Its perfectly possible to do it, but it takes a political will to take on vested interests - don't see any US politician doing that at the moment.

 

They are all pandering to their extreme wings with a total refusal to compromise.

[Lxxx]

Eventially the dollar will default as this cannot go on forever

 

@Luxx

 

Almost 70% of the US national debt is owed to .... the US. The US owes itself, in various guises, most of the money. That makes it a very different proposition vs say Greece with respect to the potential for default. It leaves open the possibility of some 'third way' other than default.

 

These 2 charts illustrate the appx breakdown using recent figures.

 

 

 

The second chart is obviously a little out of date but confirms the broad picture.

 

The US owes money to the Federal Reserve not itself, which is in fact an independant bank ownded by a small group of international bankers, who also own the Bank Of England as well as many other central banks. They print the money and then lend it to the US Government with interest. Woodrow Wilson realised he'd made a big cock-up in 1913 signing away America's ability to issue it's own money when he signed them away on Jekyll Island at the infamous meeting. So America, like most other nations, owes these bankers the money, not itself, which is a popular misconception.

 

America's debt ceiling will be reached again soon, and then we have the circus all over again. The US is Greece x 100.

[pongo]

The US owes money to the Federal Reserve not itself, which is in fact an independant bank ownded by a small group of international bankers, who also own the Bank Of England

 

 

1. No the Bank (of England) is owned by the UK govt.

 

2. US debt is owned by the institutions and individuals who hold the debt which exists in the form of bonds. As I pointed out appx 70% of that debt is owned by US public and private institutions and individuals.

[Lxxx]

The US owes money to the Federal Reserve not itself, which is in fact an independant bank ownded by a small group of international bankers, who also own the Bank Of England

 

 

1. No the Bank (of England) is owned by the UK govt.

 

2. US debt is owned by the institutions and individuals who hold the debt which exists in the form of bonds. As I pointed out appx 70% of that debt is owned by US public and private institutions and individuals.

 

You really should do your homework before you come on here spouting off. If you think the Bank of England is owned by the UK Government then I really do despair.

Every single dollar the US Government uses/spends/invests is lent to them by the independant Federal Reserve (owned by banking families such as Rothschild, Morgan and Rockefeller etc..), who print it out of thin air, exactly the same process as the BoE and the UK Government. They then have to pay this back with interest, which is where increasing taxes come into play. I suggest you go away and do some proper research before you next post.

It is this reason and this reason alone that the whole world is being dragged deeper and deeper into the mire. If governments were allowed to print their own money there would be no compounded interest, therefore the economies of the world could function quite effectively on their own. The fact that most currencies in the world are created out of thin air by central banks and then lent out at a cost, is the cause of the ever increasing debt levels, which can never be repaid. That is how the system was designed to work, for the benefit of the few over the many.

[pongo]

I had a hunch that you would start off about the Rothschilds sooner or later. I almost posted that previously but I wanted to give you the benefit of the doubt.

[Lxxx]

I had a hunch that you would start off about the Rothschilds sooner or later. I almost posted that previously but I wanted to give you the benefit of the doubt.

 

Aah, so you're not a dumb as you first make out. Well if you're that well informed why do you talk absolute tosh then? I'm more than willing to continue the discussion but would prefer it to be with people with the appropriate level of knowledge and intelligence though.

[pauld]

This cannot end well.

[pongo]

The conversation seems to have deteriorated when I pointed out that you were very obviously factually and historically incorrect about the ownership of The Bank.

 

Meanwhile - debate around the role of the Fed is perfectly justified and mainstream. But when you start implying that it is a Rothschild conspiracy then you are in the same camp as the sort of people who spout nonsense about international banking conspiracies and cabals.

[Lxxx]

This cannot end well.

 

Haha...it's all tongue in cheek.