Post By Uncle Jed » August 19th, 2013, • [Post 62] Okay Eagle1 ... I'm following what you just explained to Andy ... but I'm not wrapping my mind around it.
I can understand the USD loosing value after the GCR, but cannot wrap around the concept of a $10,000 deposit overnight becoming redesignated to $5,000. That would be a double wammy and sink the global economic ship.
I can understand how a $10,000 pre-GCR deposit would remain $10,000 of unbacked currency, and that it may drop to $5000 in "purchasing power," but the balance in the account would still be $10,000.
What am I missing? And I'm sure I'm not alone on this question/interpretation.
And if I twisted something, my apology ... remembering the principle in effective communication that what one implies is not necessarily what another infers.
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Post By whatever » August 19th, 2013, • [Post 93] Trying to wrap my head around this as well.Hmmm..We can't be the only one's?..
Post By lcm » August 19th, 2013, • [Post 64] I believe what he said is the purchasing power changes not the actual balance.
Post By DLR » August 19th, 2013, 10:02 pm • [Post 67] UNCLE JED LOOK AT IT THIS WAY 10K IN BANK IT WILL BUY YOU 10K IN GOODS/AFTER DEVALUE YOU CAN BUY 5K IN GOODS IT WILL TAKE TWICE AS MUCH TO BUY WHAT YOU BUY NOW BEST WISHES DLR
Post By Eric0777 » August 19th, 2013, • [Post 69] Doesn't this 10K to 5K only actually apply if you were purchasing a imported item?
Uncle Jed » August 19th, 2013, • [Post 75] Thank you Lcm and DLR for your quick replies. Yes, what you have posted as your interpretations is also how I anticipate seeing things unfold.
However, I'll re-listen to what Eagle1 said answering the question ... maybe my mind was drifting trying to listen on the phone with the talk fusion confusion. Yet, I thought I heard what I previously posted - which still needs clarification.
Eagle1 - can you clarify? I'm not trying to confuse others, just seeking clarification of your opinion.
Post By ehankins » August 19th, 2013, • [Post 99] TO MAYBE HELP HERE WITH FURTHER QUESTIONS...HOW DOES WAL-MART KNOW IF MY MONEY IS GOLD BACKED OR NOT...
HOW DOES MY DINAR POST EXCHANGE (GOLD-BACKED) DIFFER FROM ANOTHER ACCOUNT THAT DOESN'T HAVE A GOLD BACKED DOLLARS IN IT IF THE U.S. CURRENCY WILL LOOSE A VALUE OF 50% EITHER WAY... I'M NOT JUDGING THE INTEL...I JUST DON'T SEE THE DIFFERENCE.
Post By nanny1 » August 19th, 2013, • [Post 77] Amazingly fast notes Bulldog Ford....! We are so very grateful to you.
QUESTION FOR EAGLE1: The arrangements you described concerning WF [tho not in writing at this point], would VND be included in that arrangement? Blessings to both of you- nanny1
Post By BulldogFord65 » August 19th, 2013, • [Post 94] Hey Uncle Jed:
I am not Eagle1, but I believe I did not include his comments as he has given this same example numerous times. I probably should include as there are a lot of newer people coming onto the calls.
What Eagle1 has been consistently saying since this spring is that according to his sources, in their opinion, we will not experience a Cypress-style "hair cut" in our bank accounts.
We will NOT go to bed one night with $10,000 and wake up with only $5,000 in our back account. However, when the currency does devalue as planned, and loses in the range of 40 - 60% depending on which time frame you study, that $10,000 will spend like $5,000.
The cost of all imported goods will increase, which will decrease our spending power.
Take oil as an example, if oil sits at $100 per barrel and our currency loses 50%, we now have to pay $150 per barrel. In turn this will drive up the price of gasoline and everything petroleum based, which is just about everything -- whether made from petrochemicals or simply transported by truck, train, plane or ship which burn fuel.
You still have that $10,000 in your bank account, but after Oct 8 (anticipated date), your cost for food, clothing, fuel, etc will be higher -- it takes more money to buy the same amount of goods as before the devaluation.
The one bright spot is the new currency will be asset-backed (gold, precious metals, oil, minerals, natural gas, fresh WATER, etc), so instead of the essentially worthless fiat currency we have today, we will return to a currency that has real, intrinsic value.
Our US currency was asset backed until we began to abandon it in 1877, going off the gold standard entirely in 1933, and off the silver standard in 1964.
The short-term will be quite painful, but in the long run, it will bring stability and keep inflation in check as far as monetary policy is concerned (geopolitical entanglements and unconstitutional maneuverings aside).
Post By Society » August 19th, 2013, • [Post 107] Hey BDF65.....I think that the premise would make oil $200/barrel...
It seems that Iraq would hold off their 2014 budget projections until after the reported Oct 8th deadline as they are budgeting at 90/barrel......Think about their budget at $180/barrel...
Based on this discussion, are you expecting gas prices to explode to an average of 7 - 8 dollars/gallon in October??? This seems unbelievable and would bring the US economy to a screeching halt....
What about other countries that currently pay 5-7$/gallon....will they zoom to 10-14??? Such a plan seems like it would be absolutely catostrophic...
Post By BulldogFord65 » August 20th, 2013, • [Post 120] Hello Society:
The numbers I used were for ease of illustration only, not absolute numbers. However, having said that, yes, my personal opinion and belief is that we will see sky rocketing prices and stagnation of our economy. For me to go further into my opinion would be more appropriate by PM.
I will only say that when we look at the big picture that has been forming over the past couple of decades -- with both progressive D's and progressive R's in DC -- this is, in my opinion, a well-crafted plan, and goes well beyond currency. It's about what it's always about, power and control.
The beginnings of the current shift in our monetary policy go back to the 1870's when silver was falsely pegged to gold rather being allowed to float with the market.
The 1870's - 1890's were wracked with political corruption in both state and federal government, and there was a major bank failure due to unsupportable farm mortgages which failed with the mid-west drought. Hmm... any of this sound familiar??? We refuse to learn the lessons of the past, so we are doomed to repeat them.
There was a furor raised about revaluing silver and putting our currency on a dual metal standard - both gold and silver -- to essentially let the failed farm mortgages be paid off at about half the value of the loan -- the loan amount staying the same, but revaluing the currency to make it worth more to pay off the loan with effectively less money.
There was argument in congress, and the most vocal leader of the Silverite or Free Silver movement was the famed orator and congressman William Jennings Bryan -- nicknamed "the roaring lion."
There was even a book written about it in parable form, a little story by L Frank Baum called "The Wonderful Wizard of Oz." Dorothy represented the lost and scared American consumer living on a failing farm, carried away to a land of plenty.
In the book, Dorothy's shoes were silver -- not ruby slippers (that's Hollywood), and the road she had to follow to get home was the gold brick road (changed again by Hollywood to yellow brick).
Each character in the book is representative of a person, industry or segment of society at the time, and the Cowardly Lion was none other than William Jennings Bryan -- the roaring lion.
If you can't tell, I love this little tidbit of history, it's quite a story, and it's absolutely fascinating -- Frank Baum created a brilliant parable. To understand the bi-metallic currency standard, reading the book is a great primer.
Yes, I believe we face very difficult times ahead, and I believe it's by design. We need to become debt free and remain debt free as soon as this blessing occurs.
I believe we also need to be prepared to be truly self-sustaining, and I believe in my lifetime I will need to be self-reliant.
My political opinions are reserved for PM only, suffice it to say, in my opinion, the little D's, R's, I's and so forth by a politician's name make little to no difference. We are in a struggle of conservatism vs progressivism. Wow, aren't you sorry you asked?!?!?!?
Post By Society » August 20th, 2013, • [Post 124] BulldogFord65, Great Post......however,
I will take you back to the Limited Liability Act of 1850, setting the tone for the Corporation Democracy in 1871.....Lincoln opposed the actions with the money and formulated "Greenbacks".....
we know what happened to Lincoln...The current monetary system is "treasonous in design", however is fully Constitutional within the current legal scheme Corporation Democracy as Common Law has been effectively eliminated and in 1938 the Supreme Court noted that 50 years of their rulings were in error as even they did not fully understand how the private banking cartels had taken power and the full extent and ramifications of these actions...
While I hope you are correct in what is occurring, I see not even a hint of evidence nor can I fathom who is behind such a power play....
By the way, Thanks for the Notes as they have been a great help over these last 4 weeks while I have been predominantly out of town....
Post By BulldogFord65 » August 20th, 2013, • [Post 128]: Society, bravo: Spot on! The devil is always in the details, and you are 100% on the Limited Liability Act. I have my opinion of who and what is at work, but that's PM material.
Just a one-word clue that leads into that quagmire: Fabianism. Their entire world view and plan is laid out in stained glass.
Post By Uncle Jed » August 20th, 2013, • [Post 123] Society, So, in an earlier post I said ... this would sink the economic ship. What I'm getting from what you are expressing appears to be in line with my analogy.
Cutting the purchasing power of a currency for daily needs = over night - would lead to economic and civil panic immediately.
Get enough instant energy and pandamonia erupts, wave energy accelerates, and ... well ...
The economic value of durable and real items does not necessarily go up in VALUE, just because the price rises over time (inflation) but put another way ... the value of the currency has actually gone down.
Thus more currency is needed to purchase the same goods and'or services (okay, okay, excluding panic hyper activity periods such as occurances of natural disasters, which in the short term accelerates the concept of supply and demand values, etc.).
So, wrapping my brain around cutting currency value in half "over night" is a bit uncomprehensible for this farmer. Hmmm ... kinda like this scenario ...
Joe is standing in line at a bank, and sees his neighbor John in the next teller line. Hmmm ... John still owes me for that widget I sold him a few months ago. Maybe he can pay me today. That would be nice.
While Joe is thinking this, robbers yell "this is a holdup. Everyone ... give us all your money and get on the floor." John without hesitation says quickly to Joe ... oh, here is that $50 I still owe you ... as he drops to the floor. Okay, maybe not everyone reading this will follow that illustration.
I'm grateful to be a dinar holder. If/when some/all of these issues come to be in some form or another, I'd rather possess IQD, than not possess IQD to stay above water and ahead of the wave. Things appear to be brewing into an economic Tsunami! Uncle Jed
Post By Uncle Jed » August 20th, 2013, • [Post 125] BDF65 - another great post.
The Oz background was interesting ... and your "personal opinion and belief[s]" and your "I believes" ...I and expressions of "D's, R's, I's and so forth" ... IMO too ... were spot on!
Post By Society » August 20th, 2013, • [Post 126] Uncle Jed, Call me an Optimist but until I see more evidence or even hints of evidence, I believe the rv of the IQD will cause a strengthening of our economy and the majority of the world economies and our purchasing power will increase and not decrease.....this is only a two year bandaid and perhaps why banks have to be Basil3 compliant by 2015....
It is for this reason that I continue to try to get answers to my questions so my hypothesis is not in error as I believe I will have two years to plan for any potential economic collapse....CL has continued to push reforms to help this "bandaid" last longer than two years...This should be encouraging to all...
Post By Uncle Jed » August 20th, 2013, • [Post 130] Okay ... Society is an optimist. There ... I said it!
Quoting you: "I believe the rv of the IQD will cause a strengthening of our economy and the majority of the world economies and our purchasing power will increase and not decrease ..."
I have been of the same belief, yet see that a bandaid may not be sufficient when reconstructive surgery is required. You used the analogy of bandaids. I'll use tire patches.
Put enough patches onto an inner tube, and it might still hold some air, but outside of the tire it eventually no longer resembles an innertube. And to put on more patches, you have to keep taking the innertube out of the tire. Eventually, you start over with a new innertube ... (or go "tubeless" LOL).
As is the best laid plans of the AoP or IMF or GOI or UST or CL, etc. Too many bandaids/patches!
So as an optimist, one most likely relates with the glass as half full. If I was a betting man, I'd bet that Society, your cup ... runneth over. Uncle Jed
Post By BulldogFord65 » August 20th, 2013, • [Post 127] Uncle Jed, Okay, I am going to stop chiming in after this! :heeheehee:
I think when we say "overnight" it requires some qualification. While our currency value can change overnight, it will take months for us to fully realize it.
If we look at one isolated example, when gas prices leaped from the high $2 range to just over $4 a couple of summers ago. The price change was over night, or at most, over a 3-4 day period where I live.
The economy did not screech to a halt the next day, but as we went to work, we filled up the gas tank and skipped the trip inside the convenience mart for a snack or soda because of the gas price increase.
Folks packed lunches to take to work instead of hitting the drive thru or lunch wagon because they were pumping those dollars into the tank instead.
The term "staycation" cropped up -- instead of loading up the car, the camper and the kids to drive 2,000 miles for vacation, they drove 20 miles to a local amusement, or stayed home altogether.
Each one of those changes pulled sales out of someone's pocket. The convenience store and the drive thru didn't close overnight, but as their sales and profits fell, they laid off workers or made most of the positions part-time to reduce the number of people receiving benefits -- reducing the amount of money going in to their employees' pockets.
If this kind of inflation is sustained or continues to rise, recession and/or depression can follow -- with other mitigating conditions at play as well. The point is, even if currency revaluation is overnight, the impact typically is not felt overnight.
With the new international rate, Iraq will not wake up the next morning to paved streets, electricity and sanitation in every home, it will take months to a couple of years. Same here with our devaluation, in my opinion.
Post By KCGWS » August 20th, 2013, • [Post 179] Uncle Jed, Personally, I love your illustration and I get it. It did, however, leave me with the thought that those who are controlling the whole situation will gain,wealth and POWER, two-fold because there will be a greater amount of loss(and power) for the average and low income individuals as it always is.
These very wealthy people have been "planning" for this for years unlike the "unexpecting" 90% who will never seen the train coming down the track. Never forget, that ALL governments know the poorer the people, the easier it is to control them.
All of this, IMHO, is one of the major reasons we here, who would have been part of the "unexpecting", need to be thankful for Frank hammering on us about having proper stewartship with our RV monies.
As Mr. F26 says....we don't want to be no stinking powerball winners (losers).... of course, he says this with love in his heart and a smile on his face. KC
Post By lcm » August 20th, 2013, • [Post 184] John should have not paid Joe, insurance probably would have paid Joe if John waited to be robbed.
The immediate effect on currency changes in value does not affect the local markets on the same day. The immediate effect is felt if you are a currency trader, which is what they do for a living - buy and sell (trade) currencies as they change in value each day - some up and some down.
As time allows the change to filter through on the next go around of purchases which usually only effects the imported items (materials) then you will see an increase in the cost of the goods locally.
I would be cautious to use crude oil as an example of changing the local cost of items.
Post By Bill A » August 19th, 2013, • [Post 97] FROM EAGLE 1 I asked him to clarify. However, he is super busy tonight and said to post for him.
FROM EAGLE 1: What I said is that if you have $10,000 in a bank account on October 7th, when you wake up on October 8th, it will still look like $10,000, but it will spend like $5,000.
If you were to take $10,000 in the old bills into a bank, however, they would give you $5,000 in the new currency which is asset-backed.
The advantage (or disadvantage, depending on how you look at it) is that your $5,000 will spend better than the $10,000 in old money. Blessings on you. Regner
Post By rual12 » August 20th, 2013, • [Post 140] Hello Regner, Does this also apply to real estate? Would for instance after Oct.8 a home selling for $200,000 could be bought for $100,000? Also does this apply to cars and boats? I am still trying to make sense of this Oct 8 scenario. RUAL12
Post By Society » August 19th, 2013, • [Post 104] Eagle1, So.....Are you saying that you should have any money in a bank acount on October 7th as that will remain intact just with lower purchasing power as any bills you posess can only be exchanged for 50% return?????
Is the Federal reserve being eradicated and the whole discussion as to the next appointment of the FED Chairman and that new FRN's and old FRN's will coexist and remain negotiable is merely a "cover" for this completely subversive takeover of the world's reserve currency????...
Who can possibly behind such a coup??? Obama??? Boehner??? Biden???? This type of change has been discussed by "patriot" groups for over 30 years and yet now when we are being told we could be within 7 weeks of this happening, the "patriots" are not even talking of it......
Is this going to be a "military coup???? We know that the Supreme Court has said specifically since 1938 that they will rule according to the non-republic, democracy form of government until the the people "tire of the experiment"....Are "the people" poised to enact such a takeover??? Who is leading this movement???? I am really trying to understand...... :hatemyputer: User avatar Society Skull Crushers
Post By Society » August 19th, 2013, • [Post 102] Eagle1 Eagle1....or maybe someone can help me understand.......
Based on the info presented tonight, it is being stated that the IMF is getting antsy and if it is not done by Wednesday, they are going to do it themselves.The Iraqi governing bodies CANNOT increase the rate.
In fact, we have seen where the Economic Committee and the Finance Committee have in fact demanded that the rate increase as the reserves are 76 billion plus and now lately stating 90 billion...
If those that controll the CBI no longer cared about what the Iraqi politicians did and were going to do this no matter what and are "antsy", why have they not just done it????....they are the only ones who can!!!
We know that the only "entity" that can change the rate is the INDEPENDANT body CBI.... We also know that the CBI is controlled "privately" by some of the world's most powerful private Banking cartels...
Is it being implied that the IMF is going to take action at odds with those that actually control them????.....Who in the IMF has that size Kahunas????....
I know CL is very driven, however, her bread is ultimately buttered by those that she would be over-riding by taking such an action... I am just very confused as to this line of discussion...I would appreciate some help...
Post By dew7 » August 19th, 2013, • [Post 110] Wow Society, your questions are on a roll, and I would like to hear the answers as well!
Post By Society » August 20th, 2013, • [Post 121] :Hey dew7.....I am just trying to understand this purported plan that on it's face would seem to actually be a plan to destroy the world's economies, send the US in a complete tailspin and in fact obliteration....
it seems CL has been trying to do the complete oppossite by trying to stabilize and strengthen world economies and now we are told that the IMF (CL) is going to override the PTB and just do it herself......
I just do not understand.....the PTB have a way of taking care of those who don't want to play their same game.....CL is a bright woman and I do not see anyone that would be in a position to protect her.......
I am probably just being naive and haven't had the good fortune of having contacts that knew more than the MOF nor do my bank tellers and managers know more than I as they continually ask me what is going on...
Post By lcm » August 20th, 2013, • [Post 177] Society, Here's a thought - we are all still assuming the timeframe is directly related to Iraq, when perhaps it has nothing to do with Iraq at this stage of the game.
With 198 countries (and Central Banks) involved it could very well be some other problem (time frame) than Iraq. And we don't want to forget our government - the UST, FSB, White House, SEC, FDIC, may have some input that we don't realize. It is a very consuming all encompassing enormous task to undertake. IMO.
Want some interesting reading and history of world finances. Take a look at the Bank of International Settlements. BIS They are the bankers of the world central banks, them and only them It's a elite membership by invitation only and currently Iraq is not a member. Also Bernanke sits on their board.
It may answer some of your questions.
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