Did going bankrupt in '91 prepare Mr. Trump for the Presidency?

Discussion in 'Opinion POLLS' started by DennisTate, Mar 29, 2018.

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Did going bankrupt help convince Mr. Donald Trump to run for POTUS?

  1. Yes

    9 vote(s)
    47.4%
  2. No

    10 vote(s)
    52.6%
  3. Maybe.... I will research this further.

    0 vote(s)
    0.0%
  1. DennisTate

    DennisTate Well-Known Member Past Donor

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    At the minimum.......
    I believe that his 1991 bankruptcy prepared billionaire Donald Trump to be willing to
    tackle the Federal Reserve system.

    You have to admit...... a fourteen percent interest rate on a 675 million dollar debt.......
    seems kind of unfair.

    https://en.wikipedia.org/wiki/Donald_Trump

    I strongly suspect that President Donald J. Trump wants to become
    US President number 3 to tackle the flaws in the Federal Reserve system along with President Abraham Lincoln and President John F. Kennedy!
     
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  2. DennisTate

    DennisTate Well-Known Member Past Donor

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    I could be wrong... but it sounds to me like he may be out to get back at them.

    http://www.infowars.com/trump-calls-for-auditing-the-fed/

    Trump Calls For Auditing the Fed

    GOP frontrunner makes good on promise to call for audit of Fed
    If the idea put forward by dad2three is really happening.... why is the national debt of the USA growing so rapidly?


    http://www.politicalforum.com/index...and-why-that-must-end.211515/#post-1064784748

    Who Actually Owns the Fed and Why That Must End

     
  3. Baff

    Baff Well-Known Member

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    As far as I'm aware the government does indeed print it's currency independent of the Fed.
    The US mint is where new currency is issued.

    To be fair The treasury the mint and the central bank are all pretty closely interbound.
     
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  4. Spooky

    Spooky Well-Known Member Past Donor

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    There is no way to prepare for the presidency.

    Every single person goes in their green and learns on the job.

    We've had enough presidents now where we can confidently say that there is not one single thing you can point to that makes a person a better president.

    Political experience?

    Nope, we've had them, good and bad ones so obviously that has nothing to do with being a good president.

    Neither do things like education, military experience, knowing the law, being a community organizer, or a successful businessman.

    I have yet to find one common trait among the good leaders that bad leaders also haven't shared.
     
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  5. GrayMan

    GrayMan Well-Known Member

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    I don't know why people hate the Fed so much. Its a great tax system. You can print money and when inflation occurs the people footing the bill are those who with large banks accounts via decreasing worth of their dollars.
    The best thing to do is be in a lot of debt. Whats $1000 in debt when a bundle of firewood costs $5000 because of inflation?
     
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  6. BahamaBob

    BahamaBob Banned

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    Something in the neighborhood of 50% of all businesses fail. Trump has been involved in around 500 businesses and 6 of them have gone bankrupt. That is an astonishing 99% success rate. No bad at any level. The man is a shrewd businessman.

    Does this make him more qualified to be pres? I don't know. He seems to know what it takes to succeed and is not afraid to cut loose of a turkey. He for sure is not throwing American dollars away on companies like Solyndra.
     
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  7. Durandal

    Durandal Well-Known Member Past Donor

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    Good points here. People complaining about the Fed and our monetary and financial system probably do not understand it nearly as well as they think they do.
     
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  8. tecoyah

    tecoyah Well-Known Member Past Donor

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    I'm pretty sure it was bankruptcy #4 that convinced him. #1 just irritated him, #2 pissed him off and the third one was mostly just for fun.
     
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  9. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    Trump never went bankrupt.
     
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  10. DennisTate

    DennisTate Well-Known Member Past Donor

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    True...... even here in Canada the actual printing of currency notes.... and the minting of coins is
    done separately from the Bank of Canada, (our Federal Reserve).

    The problem is that those currency notes and coins are merely two percent of the total money supply
    of Canada....... since 1974 roughly 98% of all money created in Canada... has been done by private banks.....
    even on loans to the various levels of government.

    Beginning around 1940 Prime Minister Mackenzie King initiated the use of the Bank of Canada to put
    roughly fifty percent of the total money supply into the economy through low interest rate loans
    to the various levels of the federal or provincial governments for the building of roads, hospitals, schools,
    and other types of infrastructure.

    Because all Canadians benefited to a degree from these projects the highest rate of interest paid
    by taxpayers on those infrastructure loans... was one percent.....
    many were of a nature that the interest rate was ZERO percent........
    (for example all Canadians benefit that Canada has a Trans Canada Highway.....
    even if we never use parts of it that are in five or six of the other provinces.

    P. M. Mackenzie King's brilliant central banking policy was used for 34 years......
    until Prime Minister Pierre E. Trudeau decided to change it in 1974. Since that time
    the national debt of Canada has spiralled out of control.....
    and a serious inflationary cycle was began........
    .... The more that I read about your Fedeal Reserve system the more I realize how similar it
    really is to how things are done here in Canada.


    Here is another hockey stick shaped graph that explains why this is a problem........

    https://www.michaeljournal.org/articles/social-credit/item/the-public-debt-problem?/plenty34.htm
    [​IMG]
     
    Last edited: Apr 7, 2018
  11. DennisTate

    DennisTate Well-Known Member Past Donor

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    Extremely well put BahamaBob!

    President Trump is correct that a somewhat different type of audit does need to be done
    on the USA Federal Reserve....... and we also need to do something similar here in Canada because
    the sheer stupidity of what our Prime Minister set in motion back in 1974 is mind boggling........
    when it is understood better.

    https://www.michaeljournal.org/arti...ce-our-country-debt-free-say-three-economists

     
  12. DennisTate

    DennisTate Well-Known Member Past Donor

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    If.... for all intents and purposes the USA Federal Reserve system has
    built in advantages that make it essentially just as good as our Bank of Canada......
    (which I personally think may indeed be the case).....
    THEN... a statement from the late NDP Leader Jack Layton could become the
    theme for the President Donald J. Trump audit of the Federal Reserve.

    Oh Canada Movie 6 - Banking - 5

    Notice this sentence in post #2.....


    Over these last ten years......
    has "nearly all the interest collected by the Federal Reserve..... been rebated to the Treasury?

    If so.. .then why is the USA national debt seeming to spiral out of control very much like what has happened here in Canada since 1974 when P. M. Pierre E. Trudeau decided to abandon a system that had worked wonders for 34 years, (1940 - 1974)?
     
    Last edited: Apr 7, 2018
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  13. Sallyally

    Sallyally Well-Known Member Donor

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    Did he have a high interest rate because of a poor credit rating?
     
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  14. DennisTate

    DennisTate Well-Known Member Past Donor

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    I remember paying fourteen percent interest on the new Chevy Malibu that I bought back in 1979.........
    It soon got even worse:

    https://www.theglobeandmail.com/rea...rned-from-80s-interest-rates/article24398735/

    Remember when: What have we learned from the 1980s and that 21% interest rate?

    Apparently Donald Trump's success rate is about three times higher than the usual in the broader economy.

    https://www.forbes.com/sites/timwor...s-actually-a-pretty-good-record/#1617b66f486a

    Only One Third Of Trump's New Businesses Succeeded - That's Actually A Pretty Good Record
     
    Last edited: May 1, 2018
  15. Sallyally

    Sallyally Well-Known Member Donor

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    The eighties were frightening years- when we were working like dogs to keep up with 19% interest on mortgages, and that was from banks!
    One in three success rate sounds pretty ordinary to me, but I'm no entrepreneur.
    My nerves wouldn't stand the stress of servicing a loan of $675 million with a fourteen percent rate of interest.
     
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  16. modernpaladin

    modernpaladin Well-Known Member Donor

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    Most of the richest folks (those that have more than their parents did, anyway) go bankrupt before they succeed, often multiple times. Entrpreneurship is founded on bankruptsy. Its either that or debtors prisons if there is to be any innovation, because almost no one gets it right the first time.
     
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  17. DennisTate

    DennisTate Well-Known Member Past Donor

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    I personally am glad that America has a President who
    focuses on getting done.... what needs to be done... because
    Jim Rickards confirms the number 4.3 trillion in this video.

    https://pro.moneymappress.com/p/MMR...1525314934-571105120.1525314934&h=true&h=true

    FORGET IRAN, IRAQ, UKRAINE
    THIS IS WHERE WWIII STARTS...
     
  18. Sallyally

    Sallyally Well-Known Member Donor

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    We'll have to agree to disagree about whether the President is focussed on getting done what needs to be done.
    It seems to me that he focuses on golf, scoring points with tv people and sacking staff.
     
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  19. DennisTate

    DennisTate Well-Known Member Past Donor

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    If Mr. Mark Taylor is as gifted as I think he may very well be.........
    then President Trump likes being underestimated so that he can
    launch something big in a way that is not expected..........

    The two videos here are really worth watching..... and the PDF's
    are quite interesting too!

    https://www.sordrescue.com/


     
    Last edited: May 4, 2018
  20. One Mind

    One Mind Well-Known Member Past Donor

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    Your old defense sec., I think that was his position who is now in his 90s has much to say about this change to something resembling our Fed. He has railed against it for years. I cannot recall his name though. Basically he says it puts a nation's money in the hands of parasites, bankers, who manipulate it to their own benefit. And it does not serve the nation and its people first, but the banksters. A con job. And a very old con job that could only be created by crooks. One should read the history of the beginning of our own Fed. Looks nefarious for it is.
     
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  21. One Mind

    One Mind Well-Known Member Past Donor

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    And yet no one knows what is going on behind the scenes. You don't and neither do I. He may be running a misdirection, if he is as smart as some say he is. Not like he would tell what he is trying to do. I say, like everyone we shall have to wait and see. It may be nothing, but who can really say right now? Only time will tell that tale.
     
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  22. Iriemon

    Iriemon Well-Known Member Past Donor

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    That is not so. The US Treasury prints money (at the mint) but it prints it for the Fed at the Fed's bequest, and sells it to the Fed at cost.

    Neither the US Treasury nor the US government injects newly created money into the economy. Only the Fed doe that.
     
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  23. Iriemon

    Iriemon Well-Known Member Past Donor

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  24. Sallyally

    Sallyally Well-Known Member Donor

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    You may well be right. Only Twitter will tell.
     
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  25. DennisTate

    DennisTate Well-Known Member Past Donor

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    Actually...... I may do just that because it seems to me that AboveAlpha was probably using the number given by Mr. Jim Rickards when he used that exact same number of 4.3 trillion in a private message to me that I quoted in full in post # 18 here:



    Best explanation for Weimar Republic Inflation I ever read....



    Iremon..... I thank you for asking me some excellent questions that forced me to research that article further and actually end up listening to the video interview two times already..... and I may listen to it again soon....... because it relates to the full response that I already have in mind that I believe should be organized by Israel, Australia, Canada and the USA.......... to prevent any significant devaluation of the USA Petro-dollar.




    Should Sorek 2 be in Australia or California?
     
    Last edited: May 5, 2018

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