Jim Rickards: The United States Is Going Brok

Discussion in 'Latest US & World News' started by Destroyer of illusions, Nov 10, 2018 at 4:55 AM.

  1. Destroyer of illusions

    Destroyer of illusions Well-Known Member

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    [​IMG]

    https://www.zerohedge.com/news/2018-11-07/jim-rickards-united-states-going-broke

    In fact, Rickards suggests, though not directly, but tying the dollar to gold, providing it with available reserves. At the same time, the fourfold increase in the value of gold, from the current $ 1,230 to $ 5,000, will cause colossal inflation and a devaluation of the dollar.
    Personally me, this option seems fantastic, including for the reason that Fort Knox didn’t conduct a normal audit: we can only take on word of US officials who swear by Roosevelt’s grave that gold is completely safe.
    What is unlikely in reality. You look with what persistence do not allow an audit of gold reserves. In addition, we know how the United States refused the representatives of Germany in verifying German gold held in custody in the United States.
    And also, you probably remember the scandal with tungsten shipped from the USA, disguised as gold to China in 2009.
    Most likely the American gold reserve is a fiction.

    By the way, since you and I are talking about gold, here is another fresh one. The former vice president of JP Morgan admitted that he had been manipulating the precious metals market for 7 years, and not on his own initiative, but at the instigation of government representatives.

    Apparently, because the United States in reality is the “Naked King” and remains influential only until someone shouts - that the king is naked, aggressive madmen in the White House want to start a nuclear apocalypse.
    The only salvation of mankind is a powerful weapon of Russia that can cool insane heads in Washington.

    What do you think about it?
     
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  2. FreshAir

    FreshAir Well-Known Member Past Donor

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    the Reagan, Bush and now Trump tax cuts for the rich may break us, time will tell

    two ten plus year wars, all put on the credit card.... someone has to pay off the credit card or we go bk
     
    Last edited: Nov 10, 2018 at 4:57 AM
  3. SiNNiK

    SiNNiK Well-Known Member

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  4. Thingamabob

    Thingamabob Well-Known Member Donor

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    The closer the U.S. gets to going brok the better I like it. It's their desperation that makes them careless and easier to see what they have been up to. The more the rest of the world sees them for the treacherous b'stards they are the sooner we can band together and stop them. And the sooner we stop them the sooner we can achieve peace in the world.

    hallelujah-003-1024x470.jpg
     
  5. Destroyer of illusions

    Destroyer of illusions Well-Known Member

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    Now fraudsters in Washington are trying with all their might to create an external enemy for ordinary Americans. So that people blame not scammers for their economic collapse, but an external enemy.
    This is the old reception of all financial scammers. Put the blame on the other. And by the way, the same situation was before both world wars.
     
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  6. FreshAir

    FreshAir Well-Known Member Past Donor

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    yep, the caravan is Coming, the caravan is coming.. they will never admit it's their tax cuts for the rich and two 10+ year wars that is breaking us

    corps are not trickling down, they are shipping jobs overseas to places like India
     
  7. Thingamabob

    Thingamabob Well-Known Member Donor

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    You got that right!
     
  8. Thingamabob

    Thingamabob Well-Known Member Donor

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    That's what really kills me. The government is f*ing its' own population and have been getting away with it. This isn't about Trump. It's not about Obama. Nor about Bush Baby Jr. The whole barrel is rotten. When Trump said he was going to "drain the swamp" I guess he decided to drain only a few of them.
     
  9. Destroyer of illusions

    Destroyer of illusions Well-Known Member

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    :applause::applause::applause:
     
  10. 61falcon

    61falcon Well-Known Member

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    22 TRILLION Dollars of debt puts us officially in the poor house.
     
  11. BarleyPopGuy

    BarleyPopGuy Well-Known Member

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    I for one am tired of hearing "tax cuts for the rich" is the reason for the debt. I am far from rich and I got a tax cut. We are in debt because of welfare for votes. Social Security is another problem, not the SS as it was intended but what it has become.
     
  12. Mamasaid

    Mamasaid Well-Known Member

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    Jim Rickards is a gold standard charalatan and a shameless, walking, late night am radio infomercial.
     
  13. BarleyPopGuy

    BarleyPopGuy Well-Known Member

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    You may be right but we AREbroke.
     
  14. fmw

    fmw Well-Known Member

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    I agree. But it will take some time. We have an incompetent and corrupt government. However, we have a strong citizenry. Before the economy goes broke, I believe the citizenry will make things right. Incidentally, I don't think debt to GDP is very meaningful since government spending is a part of GDP. I prefer to measure the ability to pay interest. So far that isn't a problem.
     
  15. Blaster3

    Blaster3 Well-Known Member

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    ironic, coming from a swede whose country is soooo liberal it controls birth names for children... sweden is akin to an 'open air' prison...
     
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  16. Mamasaid

    Mamasaid Well-Known Member

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    Not even close...we just choose not to pay our public debt.
     
  17. BarleyPopGuy

    BarleyPopGuy Well-Known Member

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    Proof of that? Because that is not good!
     
  18. Mamasaid

    Mamasaid Well-Known Member

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    Proof of what, specifically? Without even reducing spending, we could have balanced budgets and then some.
     
  19. BarleyPopGuy

    BarleyPopGuy Well-Known Member

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    You said we don't pay our public debt.
     
  20. Mamasaid

    Mamasaid Well-Known Member

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    Right. We choose instead just to maintain it and to increase it
     

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