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Economist Caution: Prepare For 'Massive Wealth Destruction'

RDS

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Your thoughts? Awesome video follows (a very lengthy video)
Take immediate steps to protect your wealth . . . NOW!

That’s exactly what many well-respected economists, billionaires, and noted authors are telling you to do — experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer. According to them, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis.

Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”

When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”

Faber points out that this bleak outlook stems directly from Federal Reserve Chairman Ben Bernanke’s policy decisions, and the continuous printing of new money, referred to as “quantitative easing” in the media.

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Yes, if there is a hyperinflation then prepare for :hitsfan: .

P.S. Where is the video?
 
Yes, if there is a hyperinflation then prepare for :hitsfan: .

P.S. Where is the video?

Bet you never read anything. Scroll!
 
Bet you never read anything. Scroll!

No, I can't see any video. Not a Flash, not a link, nothing. :roll:
 
Click on the link and video is at the bottom.

No, it's not. Never mind, may be it's 'US only" or my browser blocks it as add or something.
Anyway, I've been following P. Schiff for years, so I know what he's talking about. ;)
 
Your thoughts? Awesome video follows (a very lengthy video)

That is certainly good advice. How much wealth do you have that you want to save?
 
No, it's not. Never mind, may be it's 'US only" or my browser blocks it as add or something.
Anyway, I've been following P. Schiff for years, so I know what he's talking about. ;)

Search on Google the heading and read from another window.
 
I have always wondered when discussing the flow of money, what happens to the treasury bonds. Of course The Fed doesn't have to claim their large investment of bonds, simply because this would create a collapse. The Fed creates money out of nothing, so for every bond that they purchase they increase their assets in addition to creating money due to fractional reserve banking. This makes me think that The Fed is not intentionally collapsing the economy simply because they could just force the government to pay back its debt. I suppose the government could just print money from the treasury to pay off the interest and debt to The Fed. This would not contribute to inflation simply because the printed money is going to the banking sector.

The problem is the infusion of capital that has been introduced to the private sector. From that, uncertainty and raising prices due to newly available money, eventually results in slower velocity of money expenditure. This exasperates the process creating more inflation. In order to contract the money supply higher interest rates have to be imposed on loans. The problem is with higher prices there is less available money to purchase those loans, let alone decreasing the amount of the loans when purchased, resulting in a higher rate of inflation (because no one is paying interest).

The solution is to free up money in people's individual budgets so there is more available money to take out loans. If we were to just issue money to individuals (like what Bush did) this would just add to inflation. Therefore, we have to decrease the debt that typical families accrue. This is the purpose of Obama's agenda; to battle inflation caused by the necessary bailouts because of too high systemic risk.

Therefore, we have to lower the cost of healthcare and education. Which means big interests in Washington are going to fight it in lobbying because they will lose money. This schism in Washington will decrease efficiency and may result in no solution being passed. This is exactly what happens to the end of empires during The Age of Decadence.

We are scheduled to collapse around 2030. I too would advise to put your wealth in other means. Precious medals or other currencies would suffice. This is in hopes that other countries will not fail, but since this is such a connected world economy this is a big if. So I guess precious metals would be the most sound solution in transferring wealth.

Eventually what will happen is The Age of Pioneers will set in. And the cycle will continue assuming a currency is introduced to its economy. The only way to beat this cycle is to create an economy that has no currency.
 
Search on Google the heading and read from another window.

Not to worry that much since... well, see for yourself. :)

 
Oh dear God, hyperinflation is just around the corner. Again.

Given that the freaks in the GOP will likely force the US into default this month, you should prepare for deflation not inflation. But whatever happened, the gold bug market evangelist always shout "Hyperinflation", like somebody with a special form of Tourette's Syndrome.
 
...I've been following P. Schiff for years, so I know what he's talking about. ;)

Unfortunately, P. Schiff doesn't have a clue of what he is talking about.
 
Unfortunately, P. Schiff doesn't have a clue of what he is talking about.

At least he wrote some best sellers and conned you guys into buying it.
 
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