Hanna, this is basically nothing more than pseudo-libertarian bullshit. But we are facing real problems. Here's a graph of US GDP to debt ratios.
http://static2.businessinsider.com/image/4c508ff87f8b9a5e7cb90000/chart.gif
Take note that it has been higher in the past, and we didn't default on our debt. And that ratio is already beginning to come down. But with our current debt load, a high deficit, and slow economic growth, we are in a tight spot. If the economy grows then we're out of the clear for the time being. If it doesn't, then we're in very deep doo-doo.
It is a possibility that we could default on our debt, especially if the Tea Baggers in the House refuse to raise our debt floor. But there's enough rich people who have a stake in US Treasuries, (who are free to bribe these Congressmen, and do it frequently) that I doubt it will happen.
But inflation is certainly a possibility. The only thing that's keeping that from happening right now I'd bet is our lousy economy.
Maybe GaG or Saint can pipe in here if you're trying to protect yourself against losses if you have a decent amount of savings. I wouldn't mind hearing what they have to say on the subject myself.
-- Modified on 2/26/2011 11:04:32 PM
Sorry Willy, but its true...
You say this is libertarian BS, while this guy points out how he has successfully tracked these types of financial events. Gives him more credibility than you...
And remember, a few threads down you posted a story and treated it as fact just because you liked the idea, it was debunked a few hours later...
With the attitude you and many others have about soaking the rich, I would not plan on the economy doing any stellar growth. In fact, our economy is slipping to third because those "evil rich" you constantly talk about are leaving to do business elsewhere.
I would say this is right on the money. The only way we can conserve foreign confidence in our currency is to control our debt. And if you keep trying to soak the rich, they will continue to simply move their busiensses over seas. ATLAS SHRUGGED for real!!
I never actually got to his "sales pitch"
I'll try again later, but IMO anyone who spends that much time "teeing up" his presentation, is usually only selling snake oil, but I will withold my judgement until I can get all the way through the video.
minutes I give to this kind of stuff. Guess what? He was still "teeing it up". His job is to scare the shit out of you, so you will buy whatever he is peddling.
This guy has a website. He is selling expensive subscriptions to his newsletter. So my guess is, at the end of the video, he will send you something for free. Once he gets your name, phone number, address, he will be bugging you for the rest of your life.
the Country having the Universal World Currency (not sure of the appropriate term) has the privilege of legally being able to print money where other Countries cannot. WTF....it's a concept setup for failure and surprised it worked for the length of time it has. To me; one currency used for everyone would be the solution to our economy if no other reason than it would eliminate the concept mentioned above (the privilege of printing money for the Country having the Universal World Currency). Rebuttal?????
Maybe if I could bring myself to suffer through the entire video I could offer more of an opinion on what you are asking about, but I will try.
Currently there is no "Universal World Currency" and all countries have the right to print monies as they see fit. The market itself will sort out any abuses of this system. IOW if a country doubles the amount of their currency and the markets perceives said currency as overvalued, the market will devalue that currency until it reaches a level that the market will accept.
Conversely even the Chinese have been forced to accept that keeping their currency artifically low is not sustainable in the 21st century. QE2 is a prime example of how this works, and so far at least QE2 has been rather successful.
FWIW The currency markets, while not perfect, seem to work rather well. They provide a liquid market for virtually any currency in the world and the FOREX provides virtually everyone an even playing field. I see no benefit to, nor do I see any way to implement a "world currency". I see it more as a pipe dream from someone with an agenda.
and I still didn't get through it. I didn't find out anything new, but he does have something to sell. How did you know! 
Oh, it was late and I was terribly bored with what was on TV!
anyone working that hard to pat himself on the back, has to be selling "something" lol
I am sure that he will get many people to buy whatever snake oil he is selling, people just want to believe in people that claim to have all the answers. It doesn't seem to matter if what they are selling really makes any sense in the real world.
I'm still being sold on this sales pitch that proved to be very effective for my ex persuading me to marry him. And...I thought I had learned and was better than that.
...this forum in closed for me
the video said that the U.S. was the only Country that had the privilege of printing money because it's currency was the Currency accepted by all Countries....and he used a term but can't recall.
And; yes this is a long tape but now I have doubts about what I heard. I guess I need to listen to it again.
thxs, GaGambler....your post was informative and wanted feedback...mission accomplished
...no pun intended...
could you please clarify your statement for me?
She means you don't scare easily.
No womder you don't preach Glenn Beck.
but he certainly isn't all knowing either lol
I actually agree with much of what he says, but I can't get over the fact that he is a "right wing nut job" that panders to the religious right just like Sarah Palin. Even when I agree with them, I still don't like them. lol
...might even change the way you feel about our Country's economics?
hey....there is no part of my soul that speaks Republican but do listen, and sometimes learn more
or even that they are usually wrong. Even though I don't spend a lot of time listening to the likes of Glenn Beck and even less to Sarah Palin. I would estimate that I agree with at least 60% of what Glenn Beck has to say. I still don't care for him though.
The only two radio personalities that I truly like and respect are Neal Boortz and Herman Cain, you are probably familiar with them living in Atlanta
Let me tell ya, I had a laugh with this.
"You say this is libertarian BS, while this guy points out how he has successfully tracked these types of financial events. Gives him more credibility than you..."
Snow, whenever someone tells you that they predicted the future in the past, make them prove it. If they can't, assume they're full of it.
Western Coal Corp two years ago, would have made you rich today.
...it is a sales pitch too. A really good riveting sales pitch, as I am not prone to spending so much time watching an online video like that (except for porno), but I did this time. But it did remind me of a time share meeting or a Sunday morning infomercial.
I would like to find someone that spends the $49.99 to see what's there and if it is worth it. I have a hunch that his free advice about stocking up on water, food and medical supplies is probably the best advice. I would only add guns and ammo to that. Maybe I should do a video too.
Its not new info or unique info, but it is true. Atlas is way past the point of shrugging.
-- Modified on 2/27/2011 10:41:23 AM
-- Modified on 2/27/2011 10:42:11 AM
far too unfocused for even an economist to give an intelligent comment about it without spending hours of study.
So this is the wrong place to ask for "thoughts" LOL
Yes, many are concerned about our debt levels, about the Federal Reserve "printing money" (and you could write a 10 page discussion about "fractional reserve banking" and of how the notion that the FEd is printing money out of thin air is not really accurate) and about the rising cost of commodities, but I suspect global warming with get us before any currency devaluation and what this guy predicts will happen.
But the most you should expect are glib responses such as the ones you have received so far.
at predicting economic collapse.
So if you want to see us at our finest just misspell some words in your next post.
The irony in this guys presentation is he wants to profit from the decline, which is exactly part of the problem that got us to this point.
....if we didn't see a problem his argument could not be made. It's hard to be optimist when you are "climbing down the ladder" and no solution in site. he didn't create the "decline" just responded to.
He more than responding. He's in serious salesman mode.
Until the left stop with never ending social programs and the right stop with the no tax nonsense, the bottom rung of the ladder ain't far.
But there's one thing that hasn't been mentioned. While it's true we have piled up far too much debt and need to cut spending, the real solution is to grow our way out of this problem. Even if you consider the government as meddling too much in the private sector, look at the wealth that's been created in this economy by entrepreneurs, large and small. On the large side, for example, look at Facebook and Google alone. They've created jobs, demand for computer hardware, etc., etc., not to mention tax revenues. The sheer creativity of Americans (and immigrants) should never be underestimated.
Due to the tremendous debt there is impending mega inflation coming in the next year or two when the U.S. Dollar no longer remains the world reserve currency.
Have on hand 6 months of food, water and medicine and a rural place to go if you are in an urban setting.
Buy Gold
More importantly, buy silver as it is undervalued compared to gold and silver will become a useful currency.
Buy his book that will tell you the following:
Four methods to legally hide your assets from the government so they cannot find it in the near future when they start to confiscate personal accounts.
Sell Put options
Buy some mystery asset that has historically outpaced gold and stocks by 430% from 1991 to 2000. At first I thought it was real estate until he stated that "probably less than 1% of the population owns it today... but it is readily available, and fairly inexpensive. It has nothing to do with stocks, bonds, precious metals, guns, medicine, or anything like that. Yet it could save your family... and make you very wealthy in the coming years."
In 2007 he was found guilty of securities fraud and fined $1.5 million so I would not send or invest one nickel with this guy.
I like to thank you for the research.
I am still curious as to what the mystery asset is? Anybody willing to admit to TOFTT and forking over the $49.99? An alias is fine in this case (I can't believe I'm saying that — jeez).
WARNING: THE FOLLOWING PRESENTATION
IS CONTROVERSIAL AND MAY BE
OFFENSIVE TO SOME AUDIENCES.
That was enough to telll me it is BS
-- Modified on 2/27/2011 1:31:33 PM
I wish to hell there was a PAUSE button on his video. I got about 15 mins into it and had to go. I'm not going back to re-watch that first 15 minutes later just to finish the video.
I just clicked on the video and it paused. Doing the same resumes. There isn't a button per se, but clicking directly on the video toggles pause.
LOL yeah, I finally noticed that. I'll go back and have a look later.