For those seeking something to worry about, keep an eye on the financials

[Kulapops]

Hi all,

Those that know me (note to self: does anyone at Avalon know anyone??) know that I don't go a bundle on doom and gloom. Or waiting for surprises.

Ok.. so I can make it from Christmas morning after I've ripped open the stockings (Boy... how that tradition has changed over the years! ) until after Christmas lunch when we do the 'Big' pressies. But even that is hard to wait for...

Life is waaaayyy too short to spend today waiting for tomorrow. I'm surprised some of you intelligencia haven't figured that one out yet.. but I live in hope ...

However I'm a firm believer in giving people what they want... and in any case I've never said we're not going to have a disaster ever. I just say that we don't know... and we'll never know until it happens.

Of all the categories of yummy troubles we could entertain in the future.. the dire financial situation of the world and in particular the monster known as OTC derivative is the one I find most believable. America has over £3 trillion in debt. Now I don't know about you.. but if I had that on a credit card... I'd just keep spending until someone cuts the card up!

Anyway... Jim Sinclair seems a very well informed gent, financially.

I used to read Icke, Ure and Global Research news pages daily.

these days I just look in on Jim every now and again. Lately, he's getting excited about something.

For those of you who enjoy a good worry, you could do a lot worse than follow him.

Here's a link....

http://jsmineset.com/

and a quote from today....

Jim Sinclair’s Commentary

It is worse than even this article suggests. It ends saying anyone who thinks this can be cleaned up promptly by the banks is delusional.

Foreclosure Fraud: It’s Worse Than You Think
Published: Tuesday, 12 Oct 2010 | 1:14 PM ET
By: Diana Olick



Still, I'm also a believer

¤=[Post Update]=¤

edit function doesn't work... igore.. "still I'm also a believer... "

think that was Davey Jones of Monkees fame...

[viking]

Hi Kula

I think you will find US debt is closer to 14 TRILLION...and rumour has it its much more than that!!

http://www.brillig.com/debt_clock/

It is mathematically impossible to pay of this debt. So it really is a question of time before we all witness the total collapse of the US, and followed by other countries as well.

To be honest with you I look forward to this one way or another. This will be a time when we need to re-apraise how we run our Planet financially. It will also bring about the realisation that capitalsim does not work. Period. And that this will pave way for a new way.

Great and Wonderous times ahead.

But, I'm afraid we have to wade through the crap before we get to the cleaner waters.

ps... A freind posted this to me today!!

http://www.thetruthseeker.co.uk/print.asp?ID=13573

viking

[Kulapops]

Thanks for that Viking ... interesting.

Yes.. as the chinese say.. 'may you live in interesting times!'

...and we are...

K

[conk]

Ben Franklin said capitalism can work...........but only if conscience plays a role. Something sorely lacking on Wall Street or in the bowels of London.

The central banks surely plan on massive inflation in order to have some semblance of debt reduction. So, do what they do. Use inflation to your advantage. Buy gold and silver. Sell off near the top (don't take too much risk and get too greedy). Use those inflated dollars, plus the increased value of the metals to pay off mortgages and other debts.

That was my plan, but I lost all my gold in a, er, ah, boating accident. Yeah, someone stole it, I mean a boating accident, yeah.

[Fredkc]

Um.... guys?

The US current debt, including all obligations now hovers between $40 and $50 trillion.

The banks that make up the Federal Reserve are probably sitting on several hundred trillion in derivatives. (J P Morgan alone is holding nearly $100 Trillion)

The system is so completely bankrupt that is no hope of all this being made right.
1. No one will admit to it.
2. They all think that if they ignore it, it will go away.
3. The tax base no longer exists to generate the money to pay this off.

There exists two solutions:
1. National slavery.
2. A do-over. Declare these institutions bankrupt, close them, reinstate a non-fiat money system.

Don't worry! Be happy!

Fred

[Kulapops]

$3 trillion ? $100 trillion ? What's the difference... it's only a paper moon....

[Fredkc]

Kula;
Got change for a $3 bill? I need about $100 worth of groceries.

...and yeah, I got yer "moon" right here:



peace,
Fred

[conk]

Stock your pantry with dehydrated/freeze dried foods. Seal in oxygen depleted containers chia seeds and quiona seeds, and wheat if you eat it. Chia and quiona are excellent sources of fatty acids, which are essential for good health. Fats are really hard to store, so these little seeds are great. Buy lots of toothbrushes, soap, etc. Anything that will be hard to find in emergency. Great bartering items. Food will be the new gold for a period of time.

[norman]

Posted by Kulapops (here)
$3 trillion ? $100 trillion ? What's the difference... it's only a paper moon....

Robert Chapman ( of the International Forcaster ) has the figure at about 1.5 Quadrillion!

[morguana]

hay kula funny you should have posted this.....a friend and i have been chatting and today he sent me these.......(thank you )

Source: http://www.youtube.com/watch?v=A4ZZ369KoHA

http://www.youtube.com/watch?v=A4ZZ3...layer_embedded

Source: http://www.youtube.com/watch?v=sNTmce7x7Jc

http://www.youtube.com/watch?v=sNTmc...layer_embedded

Source: http://www.youtube.com/watch?v=KpTkc7h1zcw

http://www.youtube.com/watch?v=KpTkc...223&feature=iv

now if anyone has any solid sorces regarding this topic that would be very interesting, i am not at all aufait with economics and would appreciate any more info about these things

good read eh viking?
the helterskelter gets more slippery as it goes down
m

oh and kula, edit is working via advanced post whatsity thing
x

[Kulapops]

@ Morguana... read Jim Sinclair... he's all you need...

@ Fred... you got 5 stars, count 'em... that's all the maths YOU need.

[tone3jaguar]

"For those of you seeking something to worry about"

WTF?

[lightblue]

.


i find this thread title condescending, snobbish... lucky you kulapops if you are in a positon to pick and choose what to worry about, i am happy for you - you surpassed things other people (myself included) may still bang their heads over.. ..i only do not like your patronising tone in all this...i do not seek to worry, yet i do - i worry about many things i don't get time to attend to...isn't that why we are here? isn't that why you are here? best wishes l


.

[Fredkc]

Hi Morgs!
Authoritative sources are available daily at http://lewrockwell.com/ too.


Kula doesn't need edits though. He needs a ghost writer.

Never head of Jim Sinclair, though. Any relation to Dick?
I have heard of "Dick Sinclair's Polka Party!"

Fred

28 Miners up, and counting!!!!

[Fredkc]

Came back to add this bit.

These jaspers are not deluded, by the by. They know exactly where they stand.
They simply spend their time trying to keep people from knowing it.

Consider these two items:
1. The largest member bank of the US Federal reserve is the New York branch. As they stand, today, the bank's books are upside down by a ratio of 73:1 !

In perspective; Imagine that if you added up every single thing you owned, eve a part of; house, car, jewelry, fillings in your teeth, and compared it to outstanding debt. If you were this bank, for every $100 you had, you would owe $7,300.

2. J P Morgan, which is a 40% stakeholder in the Fed. Reserve, looks even sadder. As of roughly 2004, including their derivative holdings, the bank was upside down 780:1 ! (No, that isn't a typo. Seven Hundred and Eighty to one).

That would be like having $780,000 in debt for every $100 in your pocket. Now you might ask, "Why aren't their stockholders getting worried?"

Good question!
I can tell you why, too. Because they don't care, and don't have to!
You see, they are covered by a different myth perpetrated upon the American people. It's called FDIC. Because people are told the FDIC protects their deposits, they think this agency is all about them. That is only half the tale, and an indirect truth at best.

What FDIC does is "guarantee deposits with the full faith and trust of the US government". But when it comes to money, that means "The People". What it does for the bank is, should they go bankrupt, all they have to do is dump the entire mess in the government's lap and walk away. If J P Morgan should close its door, it's the people who would wake up the next morning saddled with over $1 trillion in new debt.

It gets better!
How much money do the stockholders have invested in the bank? $49 Billion. Yup! And for their $49B. they get any and all earnings generated with the bank's "assets".

Here is another reason the investors aren't worried. It turns out that the bank, holds what they call "a small position in gold". They downplay this, as gold really isn't a "polite thing" for banks to dabble in, but... They do have it. You'll never guess how much! Go'on I dare ya.

$49 Billion!

Yup, the stockholders, clean out the basement, so they don't lose a dime, and all that speculative garbage they've played with for decades, now worthless? Dumped right in the taxpayer's lap!

29 Miners up, and counting!!!!

Fred

[Kulapops]

Choose what to worry about.. exactly, Lightblue...

@ Fred... Ghost writers in the Sky ? I love that song....

Condescending tone? None given , none taken... or is that the other way around.

Honestly... I wish everyone could fill their days not worrying about stuff. Is that condescending?

Or maybe it's just my use of italics. I like that. I PREFER THEM TO CAPITALS FOR EMPHASIS.

Because, once you go CAPITAL, where can YOU GO FROM THERE ?

There remains only the exclamation !!!!!!!!

Oh.. and the overlong post.... we should have a name for that too... I vote for 'Scrognag' ... a post that... by the fourth line, you realise it's going on for about forty to sixty lines.. and, at that point, you give up hope....

[norman]

Posted by Fredkc (here)

Yup, the stockholders, clean out the basement, so they don't lose a dime, and all that speculative garbage they've played with for decades, now worthless? Dumped right in the taxpayer's lap!

Yup, they say if alcohol was invented today it would be banned. If BANKING was invented today it would be banned.

I think Islam DOES ban it....... sort of.......

wonder if that's got anything to do with things?

[lightblue]

kulapops:

Condescending tone? None given , none taken... or is that the other way around.

Honestly... I wish everyone could fill their days not worrying about stuff. Is that condescending?

yes, i think it's condenscending because you are assuming that people worry because they are choosing to do so - which is strongly implied by your chosen thread title...i find the assumption most presumptious...

no, your wishinig people "people filled their days not worrying about stuff" is not condenscending and i never commented on what your wishes may be...


anyway, i said enough and i will not be coming back here...too snobbish to my liking... l



.

[Snowbird]

Posted by Kulapops (here)
$3 trillion ? $100 trillion ? What's the difference... it's only a paper moon....

On August 15, 1971 President Nixon removed the last link between the dollar and its gold backing, creating fiat currency. This means that on August 16, 1971, the U.S. dollar had absolutely no value...as in zero. Fiat money is what we have been living and dying for all this time. Fiat currency has only the value of confidence. That's it. The U.S. dollar is worth confidence. Nothing more and nothing less. So, essentially speaking, the dollar tanked on August 15, 1971. We have been living and dying for....nothing. It makes no difference if the stock markets collapse or not, because they are trading for something that has no value.

BTW Kula, when you Edit, make your change and then press the Go Advanced button and Save from Go Advanced.

[Zook]

http://www.usdebtclock.org/

The unofficial debt is approx. 41 terabucks.

You get that by subtracting [US unfunded liabilities] from [total national assets].

Ergo, we have [total national assets] - [US unfunded liabilities]
~ [70 trills] - [111 trills]
= 41 terabucks

Now, you add in the derivatives fraud, and you're well over 1.5 quadrillion dollars or one and a half petabucks! There is only one solution now ... bring in the zeroing function.

Borrowing from the genius of Walt Kelly (Pogo):
I have seen the enormity and it must be bust!