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Forum < Ekonomi, centralbanker, banker, marknader och aktier < English thread : Woman kicked to death by spiders
English thread : Woman kicked to death by spiders
2011-01-28 19:54 # 1
No, that is not what this is about (the title comes from street newspaper salesmen of old who knew that no one really listened to them so they could shout out anything they felt like. If someone happened to hear what they said then their curiosity may be aroused enough to buy a paper) it does bring to mind though rather passing analogies though to the world’s situation today.

Some time ago I decided I needed somewhere to invest money and started investigating the best placing.
Stocks and shares - hm, if you want some return over a few percent then you have to look at high risk investments and they are just that, high risk.
Precious metals caught my attention and at the same time mention of 'fiat currency', austrian economics and all that.

I decided I needed to know more about the financial system and started to investigate in an attempt to understand what turned out to be an incomprehensible system.

Does the fiat currency system really rely on the fact that inflation must exist and an ever increasing amount of money has to be printed? Um yes, it appears so.

Are we (read ‘country/population’) really living on borrowed money? Well yes, it appears so.

Do most countries really owe from around one quarter to over 100% of their gross national production in debts? Yes it appears so.

Then I discovered an american site with the fetching name of ‘When the shit hits the fan’.
This appears to be of the variety ‘prophets of doom’, it outlines worst case scenarios, what to do, stockpile food, fuel, water etc... but who knows, it could happen. Some say it is inevitable.

One thing I found there was a reply by the secretary of the treasury to the question of how long it would be before the USA reached their debt ceiling and would thereby be forced to default on their payments with rather obvious results - WTSHTF becomes in all probability a reality. His reply was basically a matter of months and it would be totally irresponsible not to raise the ceiling in time.
The analysis, however, states that this is futile, the same end will be reached anyway if they have to raise their debt ceiling and have an even higher debt to repay.

Now the question comes to mind ‘Is this real? Does this really come from the secretary of the treasury?’ Is there no way to avoid a crash and the following hyperinflation. There are plenty of reports and analyses of the ‘prophet of doom’ variety promising inevitable hyperinflation but there does not seem to be much saying the opposite so I decided to search for answers to these questions from the opposite standpoint.

Can a fiat currency system survive? Um, historically it appears not.
‘Does the letter I mentioned really come from the secretary of the treasury?’ Yes it appears to. It seems to stem from the treasury and is on their own official site. Don’t take my word for it though, surf into the treasury.gov, go to the rightmost tab, ‘contact’ and then to ‘blogs’, a few pages down you will find this letter in it’s entirety. Together with details of the actual level of their debt.
Scary stuff but they are not alone, the UK, Portugal, Ireland, Greece and Spain amongst others are up at similar levels of debt and it would appear to be impossible to repay these size of debts.

How did this come about? Simple - (well apart from the huge debts run up in the course of a couple of wars) we/they are spending more money than is coming in. No politician is able to take unpopular decisions, cut the standard of living, increase taxes and make sure the government can repay loans and also build up a reserve (as in biblical times) for bad years.

The trend which started back in the thirties, I believe, when a bank crashed and it was decided they needed a bigger group to be able to bail out a bank should it crash continues. When the whole group crashed they made a bigger group, then a national group, then in europe an international group. Now there is talk of a world group, a united america/canada/mexico group. We are now at the stage of going in to rescue whole countries, will it be continents next? It seems to be putting off the inevitable and the problem just gets bigger and bigger. We are running out of headroom, there is no universe or galaxy bank as far as I know which can step in to rescue the world if it continues on this path.

This trend is insane, it does not solve the underlying problems.
No company would survive by making a loss, borrowing more money and losing that too, why should we do so for banks or countries?

You may wonder why I am writing this. There are sufficient ‘scare mongering’ threads going on here and very little factual information so you surely don’t need another one.

Well basically I want to be wrong, I want someone to convince me that this is not going to happen, the world’s economy will survive.
If there is any chance that we can then I believe we must make fundamental changes however unpopular they may be, we must live within our means, we must save for bad times and if we, in order to do so, must reduce our standard of living then so be it. I do realise the interdependency of spending and production but most people can make their own personal finances work so surely we must be able to make the country’s finance work too.
The other reason I am writing is to encourage others to do what they can to influence friends and politicians into making the right decisions.

It is no fun being a prophet of doom (yes I did join that clan until it's proved otherwise) but let’s try to save what we can. Try to get backing for a ‘real’ monetary system, one based on something tangible that has real value. It doesn’t have to be gold or a precious metal, you can’t eat gold but gold does have a historical value, it is relatively scarce, cannot be manufactured (mined yes but this is really in small quantities compared the amount there is in circulation) and it is very convenient as a currency.
But above all turn the system around to stop relying on borrowed money, there is only one way that can end as far as I can see.

What started out for me as the best way to save/ make a profit/ or conserve money has rather paled into insignificance compared to the horrendous outcome the world could suffer should the current trend and philosophy continue.

Now please tell me I’m wrong/ I’m talking through my hat/ I have no idea really of what is going on
And prove it.
Senast ändrad av Tel; 2011-01-28 19:59
2011-01-28 20:35 # 2
I believe, that we have a global revolution in progress. Se what is happening in Egypt and other Arab countries. This will spread to Europe and US.

Now is the time to hunker down and wait till TSHTF, and it will not be pretty, it will be TEOTWAWKI.

2011-01-28 20:46 # 3
TSHTF= The shit hits the fan

TEOTWAWKI= The end of the world as we know it

Notera att forumet inte längre uppdateras p.g.a. teknikförändringar inför kommande uppdatering av hemsidan.

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