ECON Does Anybody Care National Debt Soon will be $30 TRILLION?
- Thread starter Doomer Doug
- Start date
ChicagoMan74
ULTRA MAGA
Yeah yeah yeah. That's getting to be old news. Talk to me when we see Dow 5k, Gold 5k, Oil $200 and I have to trade in my FRN's for yuan.
THEN...I'll give an ear to the whole great reset BS.
Southside
Has No Life - Lives on TB
When someone owes you $100,000, THEY have a problem.
When someone owes you 30 Trillion dollars, YOU have a problem.
Not able to be repaid, EVER. So, little, if any concern.
Southside
Don't look now, but all bets are ALREADY off as far as the FRN$ goes. Only suckers are holding onto it as if it were a life presever and not a rock.
Freeholder
This too shall pass.
Same here. I've adopted the saying, "Not my circus, not my monkeys." And am trying to be as prepared as I can be....
Kathleen
20Gauge
TB Fanatic
I disagree.
As we are talking about today and not tomorrow - next week - next year - or so......
That we are not seeing a rush from the dollar / people screaming in the streets / nations dumping the dollar totally, I would say we are still good to go.
I am not disagreeing that at some point in the future we will have massive problems with the dollar, today we are not. So until that point is reached, we are good to go and all bets are still on.....
20Gauge
TB Fanatic
I would be laughing at her every time she complains.......
ChicagoMan74
ULTRA MAGA
Case in point...Japan...they're in worse shape than us and have kept the façade going like never before.
By the time you see it, it will be too late.
I have no FRN$ savings account. I had two FRN$ emergency accounts, one of them got dumped into silver (at about $17/oz) in Sept 2019, when the Fed blew out the repo market. Theother one is still in place even though it loses purchasing power every single day. It is after all an emergency account, and insurance requires the payment of a premium.
20Gauge
TB Fanatic
Yes!
By the time we realize it, it will be way too late.
That doesn't change the fact that the dollar is still good today.
Tomorrow is another question.
20Gauge
TB Fanatic
An excellent example.
Money works, no matter what the form it takes (outside of pms) until people no longer believe in it.
Though Japan is an excellent example, they tend to be sheep when it comes to doing things.
I expect the USA or Europe to go first. That would be enough to take down the world and we will see war right after.
BUBBAHOTEPT
Veteran Member
Nope. Not since Obama. The Die is cast and how it all ends, well, I told you so just doesn’t quite seem to say it now does it... 
View: https://youtu.be/SBgeCZW3upg
Isn't the dollar estimated to be "still good" to the tune of about 3% of its worth in 1912?
ETA: Maybe less than 3% now and dropping like a rock
20Gauge
TB Fanatic
Different topic.
What you are describing is devaluating the money through inflation.
We are discussing the total disintegration of the dollar that totally destroys any faith in the currency forcing us into a depression or something worse.
The two are related so as to add confusion.
hiwall
Has No Life - Lives on TB
I would hope our wonderful government has a plan for the crash. Obviously everybody on the planet knows it is coming at some point. I would assume our government knows when they will let it happen. Do they have a plan ready? I would think so and I would hope so.
EMICT
Veteran Member
As noted previously on this thread, MOST do not have a clue. TB2K participants are NOT very representative of the rest of the real world.
hahaha . . . there aren't going to be bank runs . . .
I was just telling my chiropractor that the most evil movie ever made was Jimmy Stewart in "Its a Wonderful Life".
I watch it from time to time. Jimmy Stewart is great in that little speech about how "you money isn't in the bank . . .
what a lie
they don't lend your money for mortgages . . . they print it , , , the big lie
there will never be a another bank run . . . money is all digital . . .
View: https://www.youtube.com/watch?v=iPkJH6BT7dM
I was just telling my chiropractor that the most evil movie ever made was Jimmy Stewart in "Its a Wonderful Life".
I watch it from time to time. Jimmy Stewart is great in that little speech about how "you money isn't in the bank . . .
what a lie
they don't lend your money for mortgages . . . they print it , , , the big lie
there will never be a another bank run . . . money is all digital . . .
The Snack Artist
Membership Revoked
I was thinking the same. Why would there be a bank run? The paper money is useless. Especially useless after a gigantic economic disaster.
The bank runs in the 1920s were to get gold more than paper. But no one ever told you that ...
===============
SNIP/ In April 1933 FDR and his allies at the Fed and Treasury attributed widespread bank runs and failures to private "gold hoarding." Using the "Trading With the Enemy Act" (1917) as a precedent – an act that gave the president wide latitude to restrict exchanges and seize assets during "emergencies" – FDR declared that private gold should be seized and given over to the Fed, in return for irredeemable Federal Reserve Notes, to stem an emergency in the banking system. This was sanctified in the Gold Reserve Act (January 1934), which required that any gold held contrary to U. S. law must be forfeited to the U. S. government. Key parts of the "Trading With the Enemy Act" pertaining to gold seizures persist in the U.S. Code even today./SNIP
-- The Bank Runs of the Early 1930s and FDR's Ban on Gold (forbes.com)
===============
SNIP/ In April 1933 FDR and his allies at the Fed and Treasury attributed widespread bank runs and failures to private "gold hoarding." Using the "Trading With the Enemy Act" (1917) as a precedent – an act that gave the president wide latitude to restrict exchanges and seize assets during "emergencies" – FDR declared that private gold should be seized and given over to the Fed, in return for irredeemable Federal Reserve Notes, to stem an emergency in the banking system. This was sanctified in the Gold Reserve Act (January 1934), which required that any gold held contrary to U. S. law must be forfeited to the U. S. government. Key parts of the "Trading With the Enemy Act" pertaining to gold seizures persist in the U.S. Code even today./SNIP
-- The Bank Runs of the Early 1930s and FDR's Ban on Gold (forbes.com)
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hiwall
Has No Life - Lives on TB
And that is why there is a big difference now between spot prices and real prices for PMs.
Careful. It was an Article of Faith on this forum that you could not have a Big D without a bank run and then a bank holiday.
There's an even longer and more detailed article at The 1933 Banking Crisis | Gold Eagle (gold-eagle.com) for anyone who wants to read it.
DryCreek
Veteran Member
Is that another way to say "the check's in the mail"?
Blacknarwhal
Let's Go Brandon!
Hey! What are you doin' with MY money in YOUR house, Joe??
0:33 The Simpsons, Bank Run
Doomer Doug
TB Fanatic
SCENT OK I AM OFF OF MY MEDS
Besides, this 
doesn't end in Portland. It is bad enough we have the Multnomah county DA, that stands for dumb ass, not district attorney, releasing antifa, the Federal, new DOJ lawyer just "quietly released 31 additional with Federal Charges" for whatever reason they give.summer-texan
Contributing Member
when it's mentioned, they get laughed at and criticized.