Econimic meltdown????

(I apologize for the misspelling in title) I was listening to my favorite sports radio station this a.m. and heard this add about this top financial advisor that has predicted the collapse of fannie, freddie, gm, and basically the entire economic melt down that recently happened. Well this is his new prophecy. Its a long video so i understand if nobody wants to watch but im just curious about what peoples thoughts are about it. www.endofamerica36.com

 

He basically states that within the next 12 months there will be an economic meltdown that will change the way we live as we know it. Saying we have spent so much money that the U.S dollar will basically become useless.

 

so what do you do? BS

 

Won't you guys just borrow more money from China to pay the interest on your loans from China?

 

Or maybe just print up some more Greenbacks .

 

f

 

http://www.svweekly.com/joom1511/in...hy-mcsleazeball&catid=16:lifestyle&Itemid=191

 

Before you start worrying about what this guy is saying- I'd look into his credentials. Last time this clowns video was posted here the words "scam" and "fraud" were brought up.

I agree with MJP2-You would have to be fairly ignorant or naive to NOT see the failure coming or to think we can sustain what we are doing. This guy isn't a big deal cause he made a video about it....

 

I disagree. Basing the currency on a commodity severly limits the economy's ability to grow. There's not enough gold in the world to back the current US economic output let alone the world. Growth would only come by either taking someone else's gold and silver or mining for more.

Plus if your economy is based on gold when another country's is not, it's bad if you trade with them. They can exchange your currency for your gold, which dwindles your supply and constricts your economy.

 

Old news is old. Stock up on ammo, and canned foods. Our economy will fall. It's just a matter of time. You can't just keep writing bad checks(US) and expect everything to just fall in place. . .

 

Actually the way we do it now is the most valid. Make the currency itself the commodity. It fluxuates in value just as any commodity would. Have a huge bumper crop of soybeans and the price of soybeans goes down. Print excess dollars and the value of the dollar goes down.

 

Here's another thing to think about, suppose we backed every dollar with gold. The total US economic output in 2009 was about $14.3 trillion. We currently hold about $200 billion in gold. To back each dollar, the price of gold would have to rise 71.5 times it's current price. If the current price is $1400/oz, that would mean the price of an ounce of gold should rise to $100,100/oz. At $5000/oz it's economically favorable to actually create gold from lead (it's been done in the lab). So we start creating a bunch of gold. Gold then becomes no different that printing a ton of dollars.

 

OH MY GOD, the end is near!!!!!

 

The world needs to worry about this and stop hoping and laughing at the possibility of this happening because when it does....the rest of the world goes down too. Notice how fucked up everyone's shit around the world got when our bubble burst a couple of yrs ago?

 

^^Hell yea im with you on that one.^^ I have no idea who this guy is, what he is about or how credible he is. I really dont care. That wasnt the point of the post. Yes I can see some of this stuff was obvious that it was going to happen, or is going to happen. I just happened to stumble upon the add on the station and decided to watch the video and was curious what other people thought about it. Thats it.

 

I believe he could be preying on people's fears to get them to subscribe to his different programs. I read a few comments by people who did end up subscribing and ended up being sent more info for a higher level of subscription, for more money of course. I looked his company up and found that they were fined by the SEC in 2007 for securities fraud.

Analysts have warned about a double dip in the economy for a while and I feel Americans should heed those warnings. Not by letting themselves be driven by fear but to educate themselves on ways to protect whatever they have. I think, hope most of us know that the way things are being done is not sustainable.