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  • ray858945 ray858945 Jan 9, 2013 11:47 AM Flag

    Your money is worthless.

    Onion ...

    Then perhaps you do not know that you don't have to strike a coin to create a trillion dollars [our banks make and destroy more than that every year]. Not to mention that it is The Fed that regulates and creates money, not the federal government; they don't need a coin from the Treasury to do whatever they decide they should do.

    Hyper-inflation? How long before our 2% per year inflation hits 200% per month?

    You are obsessed with guns. You don't need a gun, you need therapy. What are you planning on doing, shooting your neighbor? This country needs to stop thinking that guns are the answers to our problems. Solving the fiscal problem with guns? Man, Onion, get a grip.

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    • Ok here is the scenario:
      Imagine that suddenly the govt decides to devalue the currency.
      your dollar is now worth 10c , Gold is now 16,000 per ounce.
      It is the same price today as it was yesterday in Euros but in Dollars its $16000.
      What happens ? Anyone with cash runs to the store and buys all the food on the shelves at the old prices. Suddenly most people cannot afford food. The govt will be handing out food, long lines,
      Then the looting starts. When people get hungry you would be amazed what they would do to feed themselves or their family.

      When someone comes into my house to take my food from my family
      I will be ready -as it is my constitutional right to be.
      And I am not a gun have home-owners insurance? - you hope you never have to use it?
      Thats how I feel about my firearm. It is licensed, locked in a safe, unloaded, I have taken it to the range a few times, and only my immediate family knows I own it- and no it is not an assault rifle- I don't believe in them.

      I'm not saying this is going to happen. I am just saying it could.
      Please do not drone on how this cannot happen. It has happened before.

      PS, your Dollars are already worth 10c, Its just that nobody has told you yet.

      This is 32 years of financial experience talking. I have been a currency trader, an interbank deposit broker, an interest rate swap broker, and now a bond broker. I have worked with the biggest banks in the world. Like I said I was in Brazil in the 80's. They devalued the currency. They added 2 zeros and changed the name. There was paper money that was now worthless. There were entire families sleeping on the streets in Rio. You could have gotten killed for your watch.

      Believe what you want to believe. But I know what I know.

      • 1 Reply to onion1273
      • Onion ...

        "Imagine that suddenly the gov't decides to devalue the currency."

        Again, that would be the Fed's decision, not the government's, just to be clear. And, also to be clear, the Fed has already decided that, and has been devaluing the currency.

        Why would they do that? To make our products more competitive overseas. Has that worked? Yes, it has, check what has happened with U.S. manufacturing. Could they overdo it with the result being hyper-inflation? They could overdo it, but South American style hyper-inflation is highly unlikely for many reasons including the fact that the dollar is the world's reserve currency.

        A dollar is worth a dollar. To say that it is worth $0.10 due to inflation is completely missing the way the economy works. Food produced in the U.S. without a foreign component would not be affected. Imported food, or food produced with imported goods [e.g. oil] would see prices escalate.

        Of course, you know what you know ... it's what you don't know that's the problem.

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