US Dollar Doomed - Bob Chapman 3/26/2011

[jackovesk]

The Dollar is Doomed : You Should Be In Gold and Silver with Robert Chapman -- Mar 26

Part 1

http://www.youtube.com/watch?v=Tsq5hdhBEkw&feature=player_embedded

Part 2

http://www.youtube.com/watch?v=LfOpxwQsmDs&feature=player_embedded

[HORIZONS]

How many years now has this doom been passed around?
No offense, but like I really trust people like Bob as they all will sell you silver and gold (for the soon coming dollar collapse) for US dollars - what a racket. I think I'll invest in toilet paper instead - this people will need.

[Arpheus]

That gold and silver is going to taste really good when you got no food anywhere to be found,that is if that ever happens,i heard you can make all sorts of yummi dishes with gold and silver hehehe,not sure i could handle all that metallic taste tho.

[Teakai]

I think this Cree prophecy has it down pat.

“When all the trees have been cut down, when all the animals have been hunted, when all the waters are polluted, when all the air is unsafe to breathe, only then will you discover you can’t eat money.”
(Cree prophecy)

[Teakai]

How many years now has this doom been passed around?
No offense, but like I really trust people like Bob as they all will sell you silver and gold (for the soon coming dollar collapse) for US dollars - what a racket. I think I'll invest in toilet paper instead - this people will need.

Yeah, but now it's really really really doomed.
:)

Toilet paper is definitely a good investment.

(If memory serves me; Lyndsay Williams said something like 3 months after something happening in Egypt the US dollar would crash.)

[Dennis Leahy]

Silver went up something like 35% since last November. It probably is not bad advice to buy some 99.999 fine silver 1oz coins, to keep in your possession.

Dennis

[Heartsong]

And what will you exchange your gold or silver for? Maybe Euros? Dinar? They won't take gold or silver at the food market , what would they do with them?

If the dollar goes down, so do all the countries who have are holding U.S. paper (treasury notes, bonds, loans in general). With Japan out of commission for a while, the U.S. will take up manufacturing and exporting again and slowly there will be a better balance of trade.. This will take a some time and we might not be in the position we once were but it will come around.

[Ron Mauer Sr]

It is foolish to invest in precious metals before one has prepared by storing food and other items needed for self sufficient living.
If there is money left after the preparation effort is complete, the precious metals will be good protection from a collapsing fiat currency like the dollar.
If food becomes scarce how much gold or silver will be required to purchase a homemade loaf of bread?

[jackovesk]

How many years now has this doom been passed around?
No offense, but like I really trust people like Bob as they all will sell you silver and gold (for the soon coming dollar collapse) for US dollars - what a racket. I think I'll invest in toilet paper instead - this people will need.


That gold and silver is going to taste really good when you got no food anywhere to be found,that is if that ever happens,i heard you can make all sorts of yummi dishes with gold and silver hehehe,not sure i could handle all that metallic taste tho.

No Offense,

I plead with you...for once to use your 'COMMONSENSE' if you can't understand the 'TRUTH' and you are not willing to heed the warnings right before very eyes, I feel very sorry for you and your family.

Ignorance through Fear will not get you anywhere!

Have you at all noticed the $USD decline against some of the major world currencies lately? Have you at all noticed the US National debt levels? Have you at all noticed what the Corrupt Privately Owned US Federal Reserve has done to the USA?

I am not mocking you...again I plead with you to do some more research on the inevitable fate of the $USD.

Many people don't understand the concept of buying Gold & Silver (which is actually the favoured currency of the PTB Elite)...

In a Nutshell...

I myself start buying Silver at $26/ounce now worth around $35/ounce...

I know my investment is keeping up with inflation and I can go to my local coin dealer at anytime and trade it for cash to buy whatever I want including food and toilet paper!!! (There will be No Food Shortage - You just won't be able to afford it!)

Max Kieser Part 1 - Listen to the 'TRUTH' if you dare...


http://www.youtube.com/watch?v=ZxdB6F1_kvY

PS - If you still want to plead Ignorance and Not Educate yourself you deserve to go down with the ship!

[bitworm]

Stocking up on gold and silver may not be the most feasible solution in times of crisis.

From another thread:

http://www.youtube.com/watch?v=Gk5aRIz17fk

[Mad Hatter]

99.999% silver in physical form is also useful for home made colloidal silver....

[Hybrid5226]

Mad Hatter

Beat me to it on the collidial silver .

I was one of the unfortunate people who had all the saving tied up into 401k when 911 hit an I lost a 3rd of my retirement saving .

So I took it all out an invested in property which I still think was an ok idea except 1 of the pieces of proptery I fell in love with an hoped to be the piece again for retirement living ?
Well the Dept of Natural Resources decided they wanted it as well .

Lately I have this idea going around in my head that if my retirement plans do not pan out an my health goes to hell an ssi is gone by the time I retire I'm going to order a plane ticket on line an right after that go down an buy a brand new car on credit an take that car an drive through a check point or border crossing at a 100 miles an hour while flippin the home land security guys off on the way to the air port an then run into the airport an hand my plane ticket over to a TSA agent as I grab them in a death grip when they try to frisk me up an when the cops show up I will protest an get arrested .
I will have a cot an 3 meals a day an medical untill I kick the bucket .

Seriously though I think some silver is a good idea .
It is all a gamble any way you look at it .
Maybe silver will go high enough before shtf an you can resell it an buy more hard goods .

[Calz]

It is foolish to invest in precious metals before one has prepared by storing food and other items needed for self sufficient living.
If there is money left after the preparation effort is complete, the precious metals will be good protection from a collapsing fiat currency like the dollar.
If food becomes scarce how much gold or silver will be required to purchase a homemade loaf of bread?

This is a good point as I expect the rise in food prices at least equal to (and likely much higher) than that of precious metals.

Even prior to "worst case scenarios" remember that as fuel prices rise that is reflected in (and passed along) the cost of growing/shipping food.

[Calz]

I know my investment is keeping up with inflation and I can go to my local coin dealer at anytime and trade it for cash to buy whatever I want including food and toilet paper!!! (There will be No Food Shortage - You just won't be able to afford it!)



I appreciate your passion and actually agree with most all your post.

Caveats would be to what degree we are talking about "disposable income"? How much non-perishable food is already stored? Ability to grow your own? Live off the grid?

Not everyone's situation leads to the same solution.

I actually traded futures for several years so have some background with the markets.

Anyway ... not sure how it works out in Oz but if I go to a local coin/metals dealer I have to pay 10% sales tax in addition to whatever profit margin is worked in.

Additionally if/when the dollar did collapse to zero then what would the local coin dealer pay you with? Would you take worthless paper in exchange?

[Humble Janitor]

I almost ended up buying silver but then I thought about bartering and whether or not that would come back into play in times of crisis. After all, there is no way I can afford either gold or silver at this point.

[crosby]

being careful not to spread fear is a big issue regarding the economic situation. from what i've seen so far, most americans either don't know what's going on in the global economy, and the rest are just shunning the current trend. it is definitely a good idea to have a little gold and silver and also, keep the cash. there will always be somebody willing to work with it. there are towns sprouting up around america that are starting too work with the barter system as well. in the final analysis, there isn't anything we can do to stop the bottom from falling out, however, we can resist giving up as easily as they want us too. keep doing what you're doing. make sure you have all the basic core elements in your households at all times. be prepared for the worst. keep an open mind and resist the urge to purchase big ticket items like t.v.'s and the like. i work in retail, and i see hundreds of people wasting there money everyday. purchase what you need for yourself and your family and dig a hole in your back yard if you have to too hide the currency........
warmest regards, corson

[jackovesk]

being careful not to spread fear is a big issue regarding the economic situation. from what i've seen so far, most americans either don't know what's going on in the global economy, and the rest are just shunning the current trend. it is definitely a good idea to have a little gold and silver and also, keep the cash. there will always be somebody willing to work with it. there are towns sprouting up around america that are starting too work with the barter system as well. in the final analysis, there isn't anything we can do to stop the bottom from falling out, however, we can resist giving up as easily as they want us too. keep doing what you're doing. make sure you have all the basic core elements in your households at all times. be prepared for the worst. keep an open mind and resist the urge to purchase big ticket items like t.v.'s and the like. i work in retail, and i see hundreds of people wasting there money everyday. purchase what you need for yourself and your family and dig a hole in your back yard if you have to too hide the currency........
warmest regards, corson

Some Good Advice here Corson..:clap2:

[Sabrina]

http://www.sovereignsociety.com/pages/svs/video/44Enrons.php?pub=SVS&code=PSVSM3\
01%3E

Although they are obviously flogging their products, this is an interesting report with the view that the US municipal bond market will crash shortly, forcing the Fed to print trillions of dollars.

[jackovesk]

I know my investment is keeping up with inflation and I can go to my local coin dealer at anytime and trade it for cash to buy whatever I want including food and toilet paper!!! (There will be No Food Shortage - You just won't be able to afford it!)



I appreciate your passion and actually agree with most all your post.

Caveats would be to what degree we are talking about "disposable income"? How much non-perishable food is already stored? Ability to grow your own? Live off the grid?

Not everyone's situation leads to the same solution.

I actually traded futures for several years so have some background with the markets.

Anyway ... not sure how it works out in Oz but if I go to a local coin/metals dealer I have to pay 10% sales tax in addition to whatever profit margin is worked in.

Additionally if/when the dollar did collapse to zero then what would the local coin dealer pay you with? Would you take worthless paper in exchange?

Some Good points Calz,

Things are nowhere near as Grim Down-Under in Oz as your situation in the US mainly due to the strength of our Natural Resources.

When I buy Silver they usually charge approx. $1.24/oz over the spot price.

I buy and sell with Cash only...

There is always going to be some kind of Cash substitute i.e. (New Currency if the $USD crashes or there is a run on the Banks or a Govt. induced Bank Holiday) and I would only sell the Silver if I needed to.

Be rest assured that Gold & Silver will always be tradable and have value no matter what the state of the economy is.

But remember due to the inability of the US to repay their National Debt, your Federal Reserve Notes are only worth the amount of paper they are written on.

[Lord Sidious]

Some Good points Calz,

Things are nowhere near as Grim Down-Under in Oz as your situation in the US mainly due to the strength of our Natural Resources.

...

But remember due to the inability of the US to repay their National Debt, your Federal Reserve Notes are only worth the amount of paper they are written on.

Australia can't repay the debt either and the notes are plastic, just like the nation.

[Calz]

http://www.sovereignsociety.com/pages/svs/video/44Enrons.php?pub=SVS&code=PSVSM3\
01%3E

Although they are obviously flogging their products, this is an interesting report with the view that the US municipal bond market will crash shortly, forcing the Fed to print trillions of dollars.

I remember 15-20 years ago hearing (from those that really knew how the markets work) watch out for the bond market. When (*not if* even that far back) that crashed then we would be in deep doo doo :)

[chelmostef]

Plus this-

http://www.zerohedge.com/article/are-you-prepared-another-2008-part-2?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29


Are You Prepared For Another 2008? Part 2

The Financial World has entered a period that is strikingly similar to that of 2008, at least regarding three key issues. They are:

1) The Oil/ USD correlation (as noted recently on ZeroHedge)
2) Bearish bets against the US Dollar
3) “In the Know” investors getting out of the market

We covered #1 in Part 1 of this series of articles. This article is focused on #2: investor bearishness regarding the US Dollar.

As you know, I’m a huge Dollar bear. As noted in Monday’s Free Market Forecast last week on Gains Pains & Capital, not only has the US Dollar broken down through multi-year support, but it has even taken out its 2010 lows..<snip>

The US deficit in February was the LARGEST in history. And with the US’s public debt at $14 trillion we’ve got a debt-to-GDP ratio of 100%. Throw in unfunded liabilities like Social Security and Medicare and the REAL debt-to-GDP ratio is north of 400%.

On top of this, our entire debt issuance system has become a giant Ponzi scheme in which the Treasury issues new debt to Wall Street banks, which then flip the debt over to the US Federal Reserve a few weeks later. Indeed, yesterday’s Fed QE 2 action saw the Fed buying 53% of the new debt issued a mere 13 days ago.Continued at link

Edit to add--- Expotentialy down the pan weee! Bye Bye FED!

[Calz]

This should prove to be *most* interesting as well ...


Fed’s Court-Ordered Disclosure Shows Americans’ ‘Right to Know’

March 22 (Bloomberg) -- A Supreme Court order that forces unprecedented disclosures from the Federal Reserve ended a two- year legal battle that helped shape the public’s perceptions of the U.S. central bank.

The high court yesterday let stand a lower-court ruling compelling the Fed to reveal the names of banks that borrowed money at the so-called discount window during the credit crisis. The records were requested by Bloomberg LP, the parent company of Bloomberg News. In July, Congress passed the Dodd-Frank law, which mandated the release of other Fed bailout details.

Fed Chairman Ben S. Bernanke “now must finally understand that this money doesn’t belong to the Federal Reserve, it belongs to the American people and the American people have a right to know how their taxpayer dollars are being put at risk,” said Senator Bernard Sanders, a Vermont Independent who wrote Fed transparency provisions in Dodd-Frank.


http://www.businessweek.com/news/2011-03-22/fed-s-court-ordered-disclosure-shows-americans-right-to-know-.html

[Virilis]

Silver went up something like 35% since last November. It probably is not bad advice to buy some 99.999 fine silver 1oz coins, to keep in your possession.

Dennis

Both Gold & Silver prices really have soared. Their prices were relatively stable until the advent of 9/11.


http://img96.imageshack.us/img96/9972/goldprice1975present.gif
(Gold Price trends from 1975 - present)


http://img64.imageshack.us/img64/1957/silverprice1985present.gif
(Silver Price trends from 1985 to present)


If you bought $100,000 US dollars worth of gold bullion in 2001, you'd be able to sell it today for around $500,000 US dollars. These metals are predicted to become even more expensive.

[Calz]

Thanks for the charts Virilis.

The only way to get a complete picture for something like that is have it inflation adjusted ... ie for many commodities they rise or fall with close to inversely porportional strength to that of the dollar (or whatever currency ... your charts here depict us dollars).

That said it is true the dollar has not dropped as dramatically as precious metals have risen (flight to quality and panic etc) but I am sure you get the idea.

Anyway with the current uncertainty of "what is to come" if you have extra money to invest in precious metals make sure to remember to keep a lot of it in small denominated silver coins.

If we get to the barter system and you want a loaf of bread and all you have is a gold bar ... don't expect the bread vendor to have "change" :)

[Dorok]

This should prove to be *most* interesting as well ...


Fed’s Court-Ordered Disclosure Shows Americans’ ‘Right to Know’

March 22 (Bloomberg) -- A Supreme Court order that forces unprecedented disclosures from the Federal Reserve ended a two- year legal battle that helped shape the public’s perceptions of the U.S. central bank.

The high court yesterday let stand a lower-court ruling compelling the Fed to reveal the names of banks that borrowed money at the so-called discount window during the credit crisis. The records were requested by Bloomberg LP, the parent company of Bloomberg News. In July, Congress passed the Dodd-Frank law, which mandated the release of other Fed bailout details.

Fed Chairman Ben S. Bernanke “now must finally understand that this money doesn’t belong to the Federal Reserve, it belongs to the American people and the American people have a right to know how their taxpayer dollars are being put at risk,” said Senator Bernard Sanders, a Vermont Independent who wrote Fed transparency provisions in Dodd-Frank.


http://www.businessweek.com/news/2011-03-22/fed-s-court-ordered-disclosure-shows-americans-right-to-know-.html

Damn you, Senator Sanders! That's the FED's MONEY! Don't put THEIR debt on me!! I do not accept!

In other news regarding precious metals, I will NOT trade for gold or silver when the SHTF. Not only would I not be able to do anything with it, but it also smacks of profiteering in a crisis. The only thing truly fungible is labor. If you want to share my food, you will help me grow it.

[HORIZONS]

How many years now has this doom been passed around?
No offense, but like I really trust people like Bob as they all will sell you silver and gold (for the soon coming dollar collapse) for US dollars - what a racket. I think I'll invest in toilet paper instead - this people will need.


That gold and silver is going to taste really good when you got no food anywhere to be found,that is if that ever happens,i heard you can make all sorts of yummi dishes with gold and silver hehehe,not sure i could handle all that metallic taste tho.

No Offense,

I plead with you...for once to use your 'COMMONSENSE' if you can't understand the 'TRUTH' and you are not willing to heed the warnings right before very eyes, I feel very sorry for you and your family.

Ignorance through Fear will not get you anywhere!

Have you at all noticed the $USD decline against some of the major world currencies lately? Have you at all noticed the US National debt levels? Have you at all noticed what the Corrupt Privately Owned US Federal Reserve has done to the USA?

I am not mocking you...again I plead with you to do some more research on the inevitable fate of the $USD.

Many people don't understand the concept of buying Gold & Silver (which is actually the favoured currency of the PTB Elite)...

In a Nutshell...

I myself start buying Silver at $26/ounce now worth around $35/ounce...

I know my investment is keeping up with inflation and I can go to my local coin dealer at anytime and trade it for cash to buy whatever I want including food and toilet paper!!! (There will be No Food Shortage - You just won't be able to afford it!)

Max Kieser Part 1 - Listen to the 'TRUTH' if you dare...


http://www.youtube.com/watch?v=ZxdB6F1_kvY

PS - If you still want to plead Ignorance and Not Educate yourself you deserve to go down with the ship!



If the dollar collapses to zero then the whole economy will collapse as well. Everyone’s paycheck will be worthless and industry will collapse right along with the dollar. Goods and services will disappear and manufacturing will collapse right along with it – unemployment will skyrocket, and there will not be much of anything left to buy. Truck lines will not be delivering any goods, because there will not be anything to deliver. There will be absolute chaos in the streets – rioting of all kinds, looting and the like – Marshal Law will be in effect and survival of the fittest will take over the masses until the PTB get control.

I am not saying it is a bad idea to have gold and silver, but most people can’t afford to purchase it. Investing in a food bank, seed vault, hygiene products and many other ideas are just a valuable as well. Just having some gold and silver is not going to save you – preparedness comes in many forms. Having the items and recourses that you need to survive a disaster is paramount in my informed opinion. Basically, if the dollar is doomed then everything associated with the dollar is doomed as well. How long do you think a few silver coins will last you in a crisis like that when everyone’s income is zero right along with the dollar?

Silver and gold is an investment for those that can afford to invest in it, but it is not an all saving grace.


If you still want to plead Ignorance and Not Educate yourself you deserve to go down with the ship!

Wow! I do not understand your attitude in this statement - bad juju.

[conk]

Gold and silver have been recognized as real money for 6,000 years. Paper currency has come and gone many, many times since the 1600s. Vault owners realized they could hand out receipts for gold beyond what gold they actually held, knowing that everyone would not come for their gold at once. This became fiat currency and eventually fractional banking. Paper is a scam of the highest order.

My family began buying metals at $4 silver and $250 gold. Now, silver is banging on $40 and gold is poised to go to $2,000 or higher. You do the math. And yes, first prepare with food, supplies, guns/ammo, etc. But buy your precious metals! Paper money is about to disappear. The gigantic ponzi scheme cannot inflate to infinity, and there seem to be no more bubbles with which to generate more debt.

Every single family in the USA is $700,000 in debt! Can they pay that off making $35,000 a year? Why does anyone think the financial and economic leaders are always clamoring for more debt. Fiat is debt, not money!!! Without constant new borrowing the interest on yesterday's debt can't be serviced. Just how much more does anyone think we can borrow?

This is certain: massive inflation or default. No other options, period.

[majapahit]

"US Dollar Doomed" means
a manipulation towards supposed bankruptcy ("re-evaluation") of the USA

and vis-a-vis that the USA ..
is indebted to the world 1000+ billion US$ Treasury

.. what a clever thing to do

.. don't think the USA will get away with this that easy

[Virilis]

Every single family in the USA is $700,000 in debt!

I'm not an economist, so a lot of the fundamentals relating to this issue are beyond me. But I thought the debt per capita in the US was around $50,000 US dollars. I'm not sure.....


Here's a link of 189 countries ranked according to their external debt:
List of countries by external debt (http://en.wikipedia.org/wiki/List_of_countries_by_external_debt)

The debt per capita (in US dollars) for Luxembourg is $4,028,283; $515,671 for Ireland & $144,757 for the United Kingdom. The only countries on the list that have no external debt are Brunei, Lichtenstein, Macau & Palau.


That data was apparently derived from a variety of sources, including the CIA 'World Factbook'. I don't know how reliable it is. Here's one of the source links, so you can check it out for yourself:
CIA World Factbook (https://www.cia.gov/library/publications/the-world-factbook/rankorder/rankorderguide.html)


http://img197.imageshack.us/img197/8493/externaldebtbycountryap.png
(Map of countries by external debt in $US, from CIA factbook, accessed April 2006.)


In 2006, Professor of Economics Laurence Kotlikoff argued the United States must eventually choose between "bankruptcy", raising taxes, or cutting payouts. At what point is a country forced to file for bankruptcy?

[conk]

Every single family in the USA is $700,000 in debt!

I'm not an economist, so a lot of the fundamentals relating to this issue are beyond me. But I thought the debt per capita in the US was around $50,000 US dollars. I'm not sure.....


Here's a link of 189 countries ranked according to their external debt:
List of countries by external debt (http://en.wikipedia.org/wiki/List_of_countries_by_external_debt)

The debt per capita (in US dollars) for Luxembourg is $4,028,283; $515,671 for Ireland & $144,757 for the United Kingdom. The only countries on the list that have no external debt are Brunei, Lichtenstein, Macau & Palau.


That data was apparently derived from a variety of sources, including the CIA 'World Factbook'. I don't know how reliable it is. Here's one of the source links, so you can check it out for yourself:
CIA World Factbook (https://www.cia.gov/library/publications/the-world-factbook/rankorder/rankorderguide.html)


http://img197.imageshack.us/img197/8493/externaldebtbycountryap.png
(Map of countries by external debt in $US, from CIA factbook, accessed April 2006.)


In 2006, Professor of Economics Laurence Kotlikoff argued the United States must eventually choose between "bankruptcy", raising taxes, or cutting payouts. At what point is a country forced to file for bankruptcy?

Total debt in USA is 3.8 times GDP, $56T, or $180K per person. Source: RightWayCharts.com Total Debt-to-GDP Ratio

[HORIZONS]

Just a thought but I wouldn't be surprised to see the US push for a world currency and at that time declare a "year of jubilee", so to speak, and cancel all national debt. There is some sort of plan in the minds of those that have the controlling power - the debt situation is understood in the highest ranks of powers that be.