Part 1
Part 1 KTFA Member Dialogue Of Thoughts & Opinions
08/20/2013
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.
...
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!
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.
...
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.
PART 2 CONTINUED
http://www.dinarrecaps.com/1/post/2013/08/part-1-ktfa-member-dialogue-of-thoughts-opinions.html
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.
PART 2 CONTINUED
http://www.dinarrecaps.com/1/post/2013/08/part-1-ktfa-member-dialogue-of-thoughts-opinions.html
================================================================
Part 2 KTFA Member Dialogue Of Thoughts & Opinions
08/20/2013
Post
By ehankins »
August 19th, 2013, • [Post 105] OK...I UNDERSTAND THE DINAR BEING
GOLD BACKED AND WON'T LOOSE VALUE WHENEVER IT'S EXCHANGED AND DEPOSITED.
BUT....
WHAT ABOUT THE DONG? IT'S NOT GOLD BACKED SO DO WE NEED TO EXCHANGE THE DONG AND SPEND IT BEFORE OCT. 8TH, SO WE DON'T LOOSE THE 50% VALUE? AND WHAT DOES SPEND BETTER MEAN? IF IT LOOSES 50%
Post By Society » August 20th, 2013, • [Post 111] Hey ehankins....have you seen anything definitive that the IQD will be "gold-backed"??....If so, how much gold will delineate an IQD....If it is "gold-backed", does that not imply it is "Redeemable"....If so, will we not be able to just redeem for gold???
...
WHAT ABOUT THE DONG? IT'S NOT GOLD BACKED SO DO WE NEED TO EXCHANGE THE DONG AND SPEND IT BEFORE OCT. 8TH, SO WE DON'T LOOSE THE 50% VALUE? AND WHAT DOES SPEND BETTER MEAN? IF IT LOOSES 50%
Post By Society » August 20th, 2013, • [Post 111] Hey ehankins....have you seen anything definitive that the IQD will be "gold-backed"??....If so, how much gold will delineate an IQD....If it is "gold-backed", does that not imply it is "Redeemable"....If so, will we not be able to just redeem for gold???
...
Post By ehankins » August 20th, 2013, • [Post 119] YO SOCIETY.... YES
INDEED I'VE BEEN TOLD IN OUR CC'S FOR THE PAST FOUR MONTHS THAT THE IQD IS AND
WILL BE A GOLD BACKED CURRENCY. CAN I REDEEM MY DINARS FOR GOLD? PROBABLY... .
HOW MUCH? I DON'T KNOW THE RATE...YET. I DON'T THINK WAL-MART WILL REDEEM GOLD
FOR A PAIR OF SHOES...NOT IN MISSOURI.
Post By KCGWS » August 20th, 2013 • [Post 171] EHankins, Sometime back, this year, I read an article on KTFA that Arizona had enacted a new state law that Gold and Silver were approved as legal tender for goods and services. Maybe we ought to lease a private jet post RV to go to Walmart there for your shoes...... LOL
Post By BulldogFord65 » August 20th, 2013, • [Post 113] Hi EHankins: Again, I am no Eagle1, but......
“TO MAYBE HELP HERE WITH FURTHER QUESTIONS...HOW DOES WAL-MART KNOW IF MY MONEY IS GOLD BACKED OR NOT...”
They don't. The prices at Wal-Mart and every other store will increase with the decrease in value of the US$. Even if you are buying American-made, virtually anything synthetic has some degree of petrochemical in it, or is manufactured using petrofuels.
Even the cost of organic home-grown produce will increase because fuel costs to transport goods to market will rise. Prices for all goods and services will increase because the value of the US$ outside of the USA will decrease.
In the USA, $1 will still equal $1. (this is the reverse of Iraq, where in country, 1IQD = 1IQD post-RV, but outside of Iraq, 1 IQD may be valued at over $3)
“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... “
Your present bank account has today's dollars in it, which is fiat currency. Fiat currency is currency which is worth whatever the governing body says it's worth, regardless of the actual asset to back it.
In my research last year, it was estimated the real asset backing for the amount of money which had been printed as of last year was around $0.37, yet our $1 = $1 because the Federal Reserve says so.
Taking Eagle1's $10,000 example, the real asset value of that account in today's dollars is actually worth around $3,700, but it's worth $10,000 because the Federal Reserve says it is.
After Oct 8, some money will be taken out of circulation, and we will be adjusted to an asset-backed currency, where $1 actually equals $1 of real, tangible asset of intrinsic value (oil, natural gas, fresh water, gold, precious metals, minerals, etc).
If you have a $0 balance account, it is not "contaminated" with fiat currency. When we exchange the IQD which is gold backed so that 1 IQD = 1 IQD worth of gold, we will be exchanged into an account with our new, revalued currency in which $1 actually equals $1 worth of tangible asset.
We will exchange one asset-backed currency for another asset-backed currency. The US$ in this account will not decrease in value after Oct 8 because it has already been adjusted.
This is why we need a $0 balance account, so that we are not mixing today's fiat currency in the account, as today's $1 is not worth $1 in assets.
Perhaps an analogy will be beneficial. If I am a car dealer for brand X cars, and I have new and used cars on my lot, the new cars are worth more than the used cars.
You have a new, brand Y car, but you want a brand X car. You ask me to exchange one of my brand X cars for your new, brand Y car. Since your brand Y car is new, you would expect to trade for a new brand X car, right?
You would not want to trade your new car for a used, dented, beater with 200,000 miles on it. In this analogy, the used cars are today's dollars, the new brand X car is US$, and the new brand Y car is the IQD. I hope this makes a little sense.
“I'M NOT JUDGING THE INTEL...I JUST DON'T SEE THE DIFFERENCE.”
Post By Uncle Jed » August 20th, 2013, • [Post 114] Thanks BDF65, Bill A, and others that have chimed in on this issue.
I have now listened to the CC recording, while following along with both my notes, and those posted by BDF65. I'm just trying to be a better student; not trying to stir up any controversy.
When I jested about looking for Maliki under cover in a rabbit hole like Saddam, my post was referencing Bluestar asking at 158:43 and end of topic with Franks jest of maybe in the womens room of the GOI at 161:20 of the CC. (Talkfusion not letting me on so I posted on the main thread). LOL
Okay - back on subject ...
Notes indicate sound was lost. It appears to me from the review, the void was roughly from the conclusion of TOYVP post 220 conversation around 141:47 through and including 158:43 to 161:20 while pondering the location of Maliki, followed by E1s conversation (and notes) of WF, beginning at 161:29 on the CC.
Andy's question was actually after the notes had concluded ... at 164:25 of the CC. E1s reply was consistant with what he has said in other similar terms several times before.
It was a 165:18 where E1 gave the $10,000 on deposit / $5,000 purchasing power scenario. YES, he was consistant with previous CCs. Yes, he did state you'd still have $10,000 on deposit, with only $5000 purchasing power.
What I picked up on listening to the recording three times at that spot was the ... emphassess on which syllabis ...? The emphasis on the word NOT was more of an "n't" - and nearly unperceptive while listening on a cell phone during the live bradcast.
So, as a student on these subjects, the recording does reveal - as was posted by Bill A ... the intention of what E1 was saying. I had to listen again and then put the emphasis on the proper sylable, or in this case, the word - "NOT."
Paraphrased:
- a pre-GCR $10,000 deposit (saying Oct 8, 2013) would still be $10,000 on Oct 9th, however, we may wake up to a purchasing power of ... say ... $5000. The balance on deposit does NOT change.
So there you go. With the Great notes posted so quickly from BDF65, the playback posted so quickly by Tink, and feedback by several other posters, I am now satisfied that I now infer what Q1 implied.
That doesn't mean I've wrapped my brain around the concept in it's entirety, but thanks tonight for the teamwork in resolving my original question of "what did E1 just say?"
Thanks also, to Bluestar and Frank and Andy, and newshounds and skullcrushers and to others not specified; to all that contribute to the CCs and KTFA thread posts.
With that said, now I'm in a better position to talk to Mr. Drysdale tomorrow! Uncle Jed
Post By Society » August 20th, 2013, • [Post 118] It would be beneficial to know who is holding the "in excess of 30 T dinar" that was reported.....
I have asked this for years and have yet to get an answer from anyone.....Is this being held by the UNITED STATES TREASURY, the united States Treasury or the Federal Reserve ????
If the united States Treasury is holding this amount of IQD, I could start to believe that this new Treasury note "asset-backed" could be on the horizon.....
although it seems ironic that the new 100 FRN is scheduled to come out the same time of the reported planned release of the asset-backed Treasury Note....
it would beg the question, however, as to what "assets" the united States utilized to obtain the >30T IQD......all assets would be committed to the bankruptcy and who "moved" the Republic as the offices are effectively vacated... I am so confused.......Eagle1 Eagle1, Frank E Frank E, please help .....
Post By azgma » August 20th, 2013, • [Post 122] HELP.... This is all clear as mud to me. :-( So we shouldn't have our money in a bank because it willl become less than what we have? What should we do with any money we have? I wish I had more time to invest in listening and studying. HELP...please.
Post By Dale on Maui » August 20th, 2013, • [Post 131] Great questions tonight Society!!!! I know you have asked them before....no one has answered. I don't think anyone can......because it is not real...IMO....No one can bring ANY documentation....because it does not exist....
IMO. It is an interesting concept, the asset backed currency thing...but an illusion {IMO} that has been spread around enough that many believe it as fact....when there are no facts.
The best we get are snippets of things that get turned into something they are not...because it is what someone wants to believe. It is like looking at everything thru "dinar glasses". I have watched this happen over and over again through the years. I had better stop....NO OFFENCE TO EAGLE1 HERE...I like the man. Dale on Maui ps....weren't we looking for a nc last year at this time?
Post By Merlin » August 20th, 2013, • [Post 132] Society, I have a question for you. S (or Turki) has signed the necessary documents to get this done. Those documents were sent to Moon on the 23rd of July where he signed them. My question is this. Do you really think that they would have not put some kind of penalty or failsafe clause in this? This is Iraq after all........just saying
PS. "I team " said several weeks ago that this was no longer about Iraq anymore.
And I believe if you go back and listen Eagle1 said "asset backed" not gold. I, also, believe that if you check your notes that you will find that F26 has been saying this for years.
Post By Society » August 20th, 2013, • [Post 158] Merlin, Remember.the CBI changes the rate not Iraq… If asset backed, by definition makes it Redeemable for whatever asset..that is my questio.
also, as an aside, how will asset backed currency be tradable? Can it move contrary to the asset that backs it....market price would have to follow the asset that backs it, would it not??....
if the IQD is asset backed, how can it not come out at the value of the asset much less change appreciably over any time unless those assets change appreciably.....
Is this not one of the reasons to argue for asset backed to start with so the value is established and not subject to market manipulation as fiat currency....
Confused......hopefully some answers are brought forward by E1 today so we all have greater understanding to handle our affairs properly
Post By Merlin » August 20th, 2013, • [Post 169] Society, I do remember that the CBI changes the rate. I also remember, that the IMF is working with them. Do you not think that the IMF can not force the issue?
I am sure that there are many agreements that have been made with Iraq dependent on the Revalue. These agreements could be considered null and void if they do not go by the agreement made. Just for an example the Paris debt and all debts owed to other countries that were forgiven.
That's not including whatever agreement that was made with the UN with the signing of the documents. Once again, do you not think that there would be a failsafe? To many other countries are dependent on this for there not to be.
As for asset backed, it might be helpful for you to go back and listen to some of the conference calls. Eagle1 has addressed this. In fact, just last week. It does not mean that you can exchange for the asset.
In this case what they are saying is the each country must have the assets to back up what they print. This is an agreement made by the countries and why the Global Reset......
I don't know that it is Eagle1's responsibility to come and answer your homework questions. I believe that he has a lot on his plate and does his best to answer everyone's questions as a whole.
Post By drdinar » August 20th, 2013, • [Post 174] Society, I believe iraq is going to peg their currency to a value derived from certain percentages of the price of gold, euro and pound and maybe one more currency.
Its possible they even do as kuwait and keep the contents of the "basket" they use a secret, of course imf, wb, etc know contents. This a very effective way to keep the iqd stable, without wild swings caused by one currency or commodity.
Post By barry166 » August 20th, 2013, • [Post 134] Since we are talking about numbers tonight I thought I would post something I have been thinking about for a couple of months.
If you don't have the business experience to totally understand this just take a stab at it and don't worry about it. It will not effect anything you will do anyway but may find it interesting.
First you have to understand the terms I am sure you have heard called FIFO and LIFO for a business to value it's inventory. This is extremely important to companies that require a large inventory like Walmart, Home Depot, Lowes etc.
When you do your taxes you may be set up where you value your inventory at FIFO, first item bought, first item sold and then at the end of the year you value your inventory at the price the last time you bought that item.
That, when prices are going up will show you a smaller profit for tax purposes than if you use LIFO, last in, first sold which would reduce the value of you inventory showing a larger profit and transferring the tax to future years .
You must do it the same way year after year unless you ask the IRS for permission to change and you have to have a reason beside to avoid taxes. You can not change it back and forth, you will pay the taxes sooner or later.
Now with a lesson in business that is not by a teacher and is a lot more complicated than this and than you really want to read think about this.
If what we are expecting to happen happens there are some other ramifications. Since it is easy and everyone knows them lets use Walmart which has huge inventories.
They will raise their prices as quick as possible and the first thing you will think of is look at all the extra money they will make on the inventory in their stores. Of course you would be correct.
But now they have a huge tax bill that will take a lot of that money. Next they have to restock their stores and for every $100,000 they had before they will have to have $150,000 to replace it.
The extra money they will make on that inventory will not pay the taxes and then have enough left over to buy back the inventory at the higher price. Will they go broke, maybe your small hardware store but not the large companies but they will have to do one of several things and depending on what they do may cause you some additional problems.
1. They may borrow money to help finance the inventory and that will cost them interest which will make them have to raise their prices even more.
2. They may lower their inventory levels until they can make more money to help replace it causing some shortages.
3. If they have been paying dividends on their stock they may stop to keep money to help replace this inventory. That may effect your retirement account.
Any of the above will either hurt you the customer or the stock owner depending on which way they go. There are other ways to handle it but probably will not go into play with most large companies.
Also most companies price the sell price based on a percentage of cost and it really varies from one type of industry to another.
Lets say a business in a certain industry operates on a 50% gross margin. If they have been buying an item for $100 they have Been selling it for $150. If they don't change and now they have to pay $200 for it they will now sell it for $300.
Ya looks like they are making a lot of money off of you but maybe not. Their sales will probably go down because some people will have to do with out, all their energy costs will go up, they will probably have to give some raises, the cost of the shoplifted property will go up, on, and on.
They may and in some cases I am sure will make less money but everyone will blame them for why they can't pay their own bills. Talk about causing trouble in River City.
This week, and I don't know, of course, if this has anything to do with it but Walmart released two numbers. They revised their second half projection to expect sales to be $2,000,000,000 less than earlier anticipated and that their profit would be only 50% of what they had originally expected.
I haven't tried to prove it but even though Walmart operates on a small margin and a high volume I don't think even as big as the sales figure is it would effect their profit by that large of a percentage.
Of course they operate Globally but that is a large drop in sales unless something big helps cause it.
Just thinking out loud. Now that I have given some something to think about, bored others, and ruined the night for others I'll go to bed. If course this is all just my opinion. Bill .
Post By lcm » August 20th, 2013, • [Post 198] Barry166, Walmart could be the one to feel the effect less than any company since they are world-wide. Keep in mind that since this is an Global CR - some countries are going the opposite of the US.
They will have increased purchasing power and companies like Walmart have adjusted for this. I don't think we are going to see a lot of big corporations get caught with their pants down on this GCR.
If we, dinar investors are discussing this at this level. I'm pretty sure there are people at those levels that have prepared contingency plans for such an event. IMO
Post By meme_grau » August 20th, 2013, • [Post 151] I don't understand this statement that i copied from the notes. If money is going to lose value because our money is going to be worth less for "out of country" items, how will money being in a Tag Account make any difference?????
“E1 spoke with WF today and WF said if we are exchanging IQD (after the RV) and deposit in a 0-balance, non-interest bearing account, they will treat it as a TAG account, and it will be protected from the devaluation of the USD on Oct 8; this is not in writing yet, but this is HUGE”
Post By tfulginiti » August 20th, 2013, • [Post 159] There has been alot of talk about what will happen after Oct 8, 2013 with the IQD and money in the bank. First lets pray we are all blessed with this RV before Oct 8.
But if we are this close to Oct 8, doesn't it make the most sense to only exchange what you need to get completely out of debt (If that is one of your first priorities) and wait until Oct 9, 2013 to do additional exchanges. Wouldn't anything exchanged after Oct 8, 2013 be deposited as the new US currency? Any insight on this would be appreciated.
Post By lilaromero » August 20th, 2013, • Society, I admire your tenasity and the questions you have asked because they are the same questions I've asked and went on ignored so I gave up.
Putting $10,000 in the bank to have WFB rip me off of 50% just seems wrong; hence it would have to be in my mind 50% less purchasing power, USA vs Imported items. Which in our world today is more than I care to see in our stores, markets, gas etc.
Oh! And another thing tell your teenager who thinks they are the new fashion victim that he or she can't have that specific item as it's imported. Yeah that works while you pull he or she out of the store kicking and screaming all the while giving you the stink eye!
My other problem.....
Several forum members have stated that they have received letters from WFB stating that (correct me if I'm wrong) as of early October they will be doing away with 0 balance accounts.
I myself did call my personal banker and got the run around. I was told yes some accounts will be changing and 0 balance accounts will no longer be available to them.
Once again I really didn't care about anybody elses account other than my own. I have three (3) 0 balance accounts will they change???? I was told I don't know at this time...HUH??? Yet they know everything else about my accounts.
So my other question..... How can they treat a 0 balance account like a tag account if they are doing away with 0 balance accounts by October?
I've asking for clarification and yet I'm looked upon as a nag, I look and look for anwers to my questions and yet see no one willing to step out of their comfort zone to debate or converse on the subjects. Eagle1 doesn't even log back on to clarify.
I'm not trying to cause any problems, but in the same token would like clarification as Frank keeps insisting on Proper Stewardship and taking this to GOD in prayer; however GOD isn't the one telling me what my bank will do with my money and the notion that I could be ripped off of 50%. LilaRomero
the secret wrote on August 20th, 2013,: Hi, can anyone tell me who Frank is referring to when he says the Lone Ranger,Batman and Superman. Thank you
Post By aunderdu » August 20th, 2013, • [Post 185] Lone Ranger=Iran Batman=Kuwait Superman=US IMO.......
Post By lcm » August 20th, 2013, • [Post 188] BulldogFord65, You are a very well studied on your knowledge.
As I mentioned in another post. I would be very cautious to use crude oil (petroleum products) as an example of how the GCR would change prices to the consumer. If you look at the ME and find there budget documents they are all happy at $100 barrel on crude. (of course they are).
The oil industry is the most intertwined industry on the world and controlled by a handful of groups. Also, from my last research (last year) the cost of oil in SA was around $9.00 per barrel and the cost here in the US was roughly $38 per barrel. This is the cost to get it out of the ground and to the refinery.
It helps shed some light on why we export almost all of our oil and import almost all of the consumption rate that the US consumer demands.
I have not seen a figure on Iraq's cost per barrel but I'm going to guess it would not be much more than SA. With that in mind, the oil industry has already made the adjustment for the GCR in the last three years of increases and the world consumer took it in stride with some complaining but not much.
Recent discoveries (public disclosure is more correct) of the amount of oil reserves world wide have indicated that we (the consumer) are not facing any kind of supply problem anytime in the foreseeable future.
One example is Australia has discovered (released information) that they have oil fields that could surpass the reserves of the ME. And the US has begin to disclose we have oil reserves that are larger than any previous fields and contain more oil than what we have consumed since we started using oil.
Anyway, my main point here is that IMO - the oil industry has already made the correction (adjustment) for the GCR - knowing that there is no way they could allow the increase in price overnight on world prices - it would have a drastic negative effect to all consumers.
With this industry in this position the GCR will not come down so hard on the economies as being discussed. One MORE TIME - this is IN MY OPINION –
Post By lcm » August 20th, 2013, • [Post 193] Society, It's my conclusion that the UST is holding the currency. - Bush's plan to redeem them later at the appropriate time for crude. (IMO - at an agreed price of $40 per barrel) which is how the statement of Iraq will pay for this war and it will cost US nothing. again – IMO
Post By mryantodd » August 20th, 2013, • [Post 189] I wasn't able to get onto the CC last night because of all the participation overload issues, but I wanted to thank Bulldogford for the great notes and everyone else that added to the discussion around what was discussed.
Just when I think I have a grasp on things here, another person smarter than me adds some more insight and turns my thought process inside up and upside out... :heeheehee:
I know this will probably cause a lot of heated debate, but I wanted to level set my own expectations again and thought I would share my own reality check with you all on where I am at.
Feel free to rip into this and provide your perspective on whether or not these items are opinion or reality.... it is simply my personal way to keep my expectations from running away with my imagination. I look forward to any comments this may generate.
Post By KCGWS » August 20th, 2013 • [Post 171] EHankins, Sometime back, this year, I read an article on KTFA that Arizona had enacted a new state law that Gold and Silver were approved as legal tender for goods and services. Maybe we ought to lease a private jet post RV to go to Walmart there for your shoes...... LOL
Post By BulldogFord65 » August 20th, 2013, • [Post 113] Hi EHankins: Again, I am no Eagle1, but......
“TO MAYBE HELP HERE WITH FURTHER QUESTIONS...HOW DOES WAL-MART KNOW IF MY MONEY IS GOLD BACKED OR NOT...”
They don't. The prices at Wal-Mart and every other store will increase with the decrease in value of the US$. Even if you are buying American-made, virtually anything synthetic has some degree of petrochemical in it, or is manufactured using petrofuels.
Even the cost of organic home-grown produce will increase because fuel costs to transport goods to market will rise. Prices for all goods and services will increase because the value of the US$ outside of the USA will decrease.
In the USA, $1 will still equal $1. (this is the reverse of Iraq, where in country, 1IQD = 1IQD post-RV, but outside of Iraq, 1 IQD may be valued at over $3)
“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... “
Your present bank account has today's dollars in it, which is fiat currency. Fiat currency is currency which is worth whatever the governing body says it's worth, regardless of the actual asset to back it.
In my research last year, it was estimated the real asset backing for the amount of money which had been printed as of last year was around $0.37, yet our $1 = $1 because the Federal Reserve says so.
Taking Eagle1's $10,000 example, the real asset value of that account in today's dollars is actually worth around $3,700, but it's worth $10,000 because the Federal Reserve says it is.
After Oct 8, some money will be taken out of circulation, and we will be adjusted to an asset-backed currency, where $1 actually equals $1 of real, tangible asset of intrinsic value (oil, natural gas, fresh water, gold, precious metals, minerals, etc).
If you have a $0 balance account, it is not "contaminated" with fiat currency. When we exchange the IQD which is gold backed so that 1 IQD = 1 IQD worth of gold, we will be exchanged into an account with our new, revalued currency in which $1 actually equals $1 worth of tangible asset.
We will exchange one asset-backed currency for another asset-backed currency. The US$ in this account will not decrease in value after Oct 8 because it has already been adjusted.
This is why we need a $0 balance account, so that we are not mixing today's fiat currency in the account, as today's $1 is not worth $1 in assets.
Perhaps an analogy will be beneficial. If I am a car dealer for brand X cars, and I have new and used cars on my lot, the new cars are worth more than the used cars.
You have a new, brand Y car, but you want a brand X car. You ask me to exchange one of my brand X cars for your new, brand Y car. Since your brand Y car is new, you would expect to trade for a new brand X car, right?
You would not want to trade your new car for a used, dented, beater with 200,000 miles on it. In this analogy, the used cars are today's dollars, the new brand X car is US$, and the new brand Y car is the IQD. I hope this makes a little sense.
“I'M NOT JUDGING THE INTEL...I JUST DON'T SEE THE DIFFERENCE.”
Post By Uncle Jed » August 20th, 2013, • [Post 114] Thanks BDF65, Bill A, and others that have chimed in on this issue.
I have now listened to the CC recording, while following along with both my notes, and those posted by BDF65. I'm just trying to be a better student; not trying to stir up any controversy.
When I jested about looking for Maliki under cover in a rabbit hole like Saddam, my post was referencing Bluestar asking at 158:43 and end of topic with Franks jest of maybe in the womens room of the GOI at 161:20 of the CC. (Talkfusion not letting me on so I posted on the main thread). LOL
Okay - back on subject ...
Notes indicate sound was lost. It appears to me from the review, the void was roughly from the conclusion of TOYVP post 220 conversation around 141:47 through and including 158:43 to 161:20 while pondering the location of Maliki, followed by E1s conversation (and notes) of WF, beginning at 161:29 on the CC.
Andy's question was actually after the notes had concluded ... at 164:25 of the CC. E1s reply was consistant with what he has said in other similar terms several times before.
It was a 165:18 where E1 gave the $10,000 on deposit / $5,000 purchasing power scenario. YES, he was consistant with previous CCs. Yes, he did state you'd still have $10,000 on deposit, with only $5000 purchasing power.
What I picked up on listening to the recording three times at that spot was the ... emphassess on which syllabis ...? The emphasis on the word NOT was more of an "n't" - and nearly unperceptive while listening on a cell phone during the live bradcast.
So, as a student on these subjects, the recording does reveal - as was posted by Bill A ... the intention of what E1 was saying. I had to listen again and then put the emphasis on the proper sylable, or in this case, the word - "NOT."
Paraphrased:
- a pre-GCR $10,000 deposit (saying Oct 8, 2013) would still be $10,000 on Oct 9th, however, we may wake up to a purchasing power of ... say ... $5000. The balance on deposit does NOT change.
So there you go. With the Great notes posted so quickly from BDF65, the playback posted so quickly by Tink, and feedback by several other posters, I am now satisfied that I now infer what Q1 implied.
That doesn't mean I've wrapped my brain around the concept in it's entirety, but thanks tonight for the teamwork in resolving my original question of "what did E1 just say?"
Thanks also, to Bluestar and Frank and Andy, and newshounds and skullcrushers and to others not specified; to all that contribute to the CCs and KTFA thread posts.
With that said, now I'm in a better position to talk to Mr. Drysdale tomorrow! Uncle Jed
Post By Society » August 20th, 2013, • [Post 118] It would be beneficial to know who is holding the "in excess of 30 T dinar" that was reported.....
I have asked this for years and have yet to get an answer from anyone.....Is this being held by the UNITED STATES TREASURY, the united States Treasury or the Federal Reserve ????
If the united States Treasury is holding this amount of IQD, I could start to believe that this new Treasury note "asset-backed" could be on the horizon.....
although it seems ironic that the new 100 FRN is scheduled to come out the same time of the reported planned release of the asset-backed Treasury Note....
it would beg the question, however, as to what "assets" the united States utilized to obtain the >30T IQD......all assets would be committed to the bankruptcy and who "moved" the Republic as the offices are effectively vacated... I am so confused.......Eagle1 Eagle1, Frank E Frank E, please help .....
Post By azgma » August 20th, 2013, • [Post 122] HELP.... This is all clear as mud to me. :-( So we shouldn't have our money in a bank because it willl become less than what we have? What should we do with any money we have? I wish I had more time to invest in listening and studying. HELP...please.
Post By Dale on Maui » August 20th, 2013, • [Post 131] Great questions tonight Society!!!! I know you have asked them before....no one has answered. I don't think anyone can......because it is not real...IMO....No one can bring ANY documentation....because it does not exist....
IMO. It is an interesting concept, the asset backed currency thing...but an illusion {IMO} that has been spread around enough that many believe it as fact....when there are no facts.
The best we get are snippets of things that get turned into something they are not...because it is what someone wants to believe. It is like looking at everything thru "dinar glasses". I have watched this happen over and over again through the years. I had better stop....NO OFFENCE TO EAGLE1 HERE...I like the man. Dale on Maui ps....weren't we looking for a nc last year at this time?
Post By Merlin » August 20th, 2013, • [Post 132] Society, I have a question for you. S (or Turki) has signed the necessary documents to get this done. Those documents were sent to Moon on the 23rd of July where he signed them. My question is this. Do you really think that they would have not put some kind of penalty or failsafe clause in this? This is Iraq after all........just saying
PS. "I team " said several weeks ago that this was no longer about Iraq anymore.
And I believe if you go back and listen Eagle1 said "asset backed" not gold. I, also, believe that if you check your notes that you will find that F26 has been saying this for years.
Post By Society » August 20th, 2013, • [Post 158] Merlin, Remember.the CBI changes the rate not Iraq… If asset backed, by definition makes it Redeemable for whatever asset..that is my questio.
also, as an aside, how will asset backed currency be tradable? Can it move contrary to the asset that backs it....market price would have to follow the asset that backs it, would it not??....
if the IQD is asset backed, how can it not come out at the value of the asset much less change appreciably over any time unless those assets change appreciably.....
Is this not one of the reasons to argue for asset backed to start with so the value is established and not subject to market manipulation as fiat currency....
Confused......hopefully some answers are brought forward by E1 today so we all have greater understanding to handle our affairs properly
Post By Merlin » August 20th, 2013, • [Post 169] Society, I do remember that the CBI changes the rate. I also remember, that the IMF is working with them. Do you not think that the IMF can not force the issue?
I am sure that there are many agreements that have been made with Iraq dependent on the Revalue. These agreements could be considered null and void if they do not go by the agreement made. Just for an example the Paris debt and all debts owed to other countries that were forgiven.
That's not including whatever agreement that was made with the UN with the signing of the documents. Once again, do you not think that there would be a failsafe? To many other countries are dependent on this for there not to be.
As for asset backed, it might be helpful for you to go back and listen to some of the conference calls. Eagle1 has addressed this. In fact, just last week. It does not mean that you can exchange for the asset.
In this case what they are saying is the each country must have the assets to back up what they print. This is an agreement made by the countries and why the Global Reset......
I don't know that it is Eagle1's responsibility to come and answer your homework questions. I believe that he has a lot on his plate and does his best to answer everyone's questions as a whole.
Post By drdinar » August 20th, 2013, • [Post 174] Society, I believe iraq is going to peg their currency to a value derived from certain percentages of the price of gold, euro and pound and maybe one more currency.
Its possible they even do as kuwait and keep the contents of the "basket" they use a secret, of course imf, wb, etc know contents. This a very effective way to keep the iqd stable, without wild swings caused by one currency or commodity.
Post By barry166 » August 20th, 2013, • [Post 134] Since we are talking about numbers tonight I thought I would post something I have been thinking about for a couple of months.
If you don't have the business experience to totally understand this just take a stab at it and don't worry about it. It will not effect anything you will do anyway but may find it interesting.
First you have to understand the terms I am sure you have heard called FIFO and LIFO for a business to value it's inventory. This is extremely important to companies that require a large inventory like Walmart, Home Depot, Lowes etc.
When you do your taxes you may be set up where you value your inventory at FIFO, first item bought, first item sold and then at the end of the year you value your inventory at the price the last time you bought that item.
That, when prices are going up will show you a smaller profit for tax purposes than if you use LIFO, last in, first sold which would reduce the value of you inventory showing a larger profit and transferring the tax to future years .
You must do it the same way year after year unless you ask the IRS for permission to change and you have to have a reason beside to avoid taxes. You can not change it back and forth, you will pay the taxes sooner or later.
Now with a lesson in business that is not by a teacher and is a lot more complicated than this and than you really want to read think about this.
If what we are expecting to happen happens there are some other ramifications. Since it is easy and everyone knows them lets use Walmart which has huge inventories.
They will raise their prices as quick as possible and the first thing you will think of is look at all the extra money they will make on the inventory in their stores. Of course you would be correct.
But now they have a huge tax bill that will take a lot of that money. Next they have to restock their stores and for every $100,000 they had before they will have to have $150,000 to replace it.
The extra money they will make on that inventory will not pay the taxes and then have enough left over to buy back the inventory at the higher price. Will they go broke, maybe your small hardware store but not the large companies but they will have to do one of several things and depending on what they do may cause you some additional problems.
1. They may borrow money to help finance the inventory and that will cost them interest which will make them have to raise their prices even more.
2. They may lower their inventory levels until they can make more money to help replace it causing some shortages.
3. If they have been paying dividends on their stock they may stop to keep money to help replace this inventory. That may effect your retirement account.
Any of the above will either hurt you the customer or the stock owner depending on which way they go. There are other ways to handle it but probably will not go into play with most large companies.
Also most companies price the sell price based on a percentage of cost and it really varies from one type of industry to another.
Lets say a business in a certain industry operates on a 50% gross margin. If they have been buying an item for $100 they have Been selling it for $150. If they don't change and now they have to pay $200 for it they will now sell it for $300.
Ya looks like they are making a lot of money off of you but maybe not. Their sales will probably go down because some people will have to do with out, all their energy costs will go up, they will probably have to give some raises, the cost of the shoplifted property will go up, on, and on.
They may and in some cases I am sure will make less money but everyone will blame them for why they can't pay their own bills. Talk about causing trouble in River City.
This week, and I don't know, of course, if this has anything to do with it but Walmart released two numbers. They revised their second half projection to expect sales to be $2,000,000,000 less than earlier anticipated and that their profit would be only 50% of what they had originally expected.
I haven't tried to prove it but even though Walmart operates on a small margin and a high volume I don't think even as big as the sales figure is it would effect their profit by that large of a percentage.
Of course they operate Globally but that is a large drop in sales unless something big helps cause it.
Just thinking out loud. Now that I have given some something to think about, bored others, and ruined the night for others I'll go to bed. If course this is all just my opinion. Bill .
Post By lcm » August 20th, 2013, • [Post 198] Barry166, Walmart could be the one to feel the effect less than any company since they are world-wide. Keep in mind that since this is an Global CR - some countries are going the opposite of the US.
They will have increased purchasing power and companies like Walmart have adjusted for this. I don't think we are going to see a lot of big corporations get caught with their pants down on this GCR.
If we, dinar investors are discussing this at this level. I'm pretty sure there are people at those levels that have prepared contingency plans for such an event. IMO
Post By meme_grau » August 20th, 2013, • [Post 151] I don't understand this statement that i copied from the notes. If money is going to lose value because our money is going to be worth less for "out of country" items, how will money being in a Tag Account make any difference?????
“E1 spoke with WF today and WF said if we are exchanging IQD (after the RV) and deposit in a 0-balance, non-interest bearing account, they will treat it as a TAG account, and it will be protected from the devaluation of the USD on Oct 8; this is not in writing yet, but this is HUGE”
Post By tfulginiti » August 20th, 2013, • [Post 159] There has been alot of talk about what will happen after Oct 8, 2013 with the IQD and money in the bank. First lets pray we are all blessed with this RV before Oct 8.
But if we are this close to Oct 8, doesn't it make the most sense to only exchange what you need to get completely out of debt (If that is one of your first priorities) and wait until Oct 9, 2013 to do additional exchanges. Wouldn't anything exchanged after Oct 8, 2013 be deposited as the new US currency? Any insight on this would be appreciated.
Post By lilaromero » August 20th, 2013, • Society, I admire your tenasity and the questions you have asked because they are the same questions I've asked and went on ignored so I gave up.
Putting $10,000 in the bank to have WFB rip me off of 50% just seems wrong; hence it would have to be in my mind 50% less purchasing power, USA vs Imported items. Which in our world today is more than I care to see in our stores, markets, gas etc.
Oh! And another thing tell your teenager who thinks they are the new fashion victim that he or she can't have that specific item as it's imported. Yeah that works while you pull he or she out of the store kicking and screaming all the while giving you the stink eye!
My other problem.....
Several forum members have stated that they have received letters from WFB stating that (correct me if I'm wrong) as of early October they will be doing away with 0 balance accounts.
I myself did call my personal banker and got the run around. I was told yes some accounts will be changing and 0 balance accounts will no longer be available to them.
Once again I really didn't care about anybody elses account other than my own. I have three (3) 0 balance accounts will they change???? I was told I don't know at this time...HUH??? Yet they know everything else about my accounts.
So my other question..... How can they treat a 0 balance account like a tag account if they are doing away with 0 balance accounts by October?
I've asking for clarification and yet I'm looked upon as a nag, I look and look for anwers to my questions and yet see no one willing to step out of their comfort zone to debate or converse on the subjects. Eagle1 doesn't even log back on to clarify.
I'm not trying to cause any problems, but in the same token would like clarification as Frank keeps insisting on Proper Stewardship and taking this to GOD in prayer; however GOD isn't the one telling me what my bank will do with my money and the notion that I could be ripped off of 50%. LilaRomero
the secret wrote on August 20th, 2013,: Hi, can anyone tell me who Frank is referring to when he says the Lone Ranger,Batman and Superman. Thank you
Post By aunderdu » August 20th, 2013, • [Post 185] Lone Ranger=Iran Batman=Kuwait Superman=US IMO.......
Post By lcm » August 20th, 2013, • [Post 188] BulldogFord65, You are a very well studied on your knowledge.
As I mentioned in another post. I would be very cautious to use crude oil (petroleum products) as an example of how the GCR would change prices to the consumer. If you look at the ME and find there budget documents they are all happy at $100 barrel on crude. (of course they are).
The oil industry is the most intertwined industry on the world and controlled by a handful of groups. Also, from my last research (last year) the cost of oil in SA was around $9.00 per barrel and the cost here in the US was roughly $38 per barrel. This is the cost to get it out of the ground and to the refinery.
It helps shed some light on why we export almost all of our oil and import almost all of the consumption rate that the US consumer demands.
I have not seen a figure on Iraq's cost per barrel but I'm going to guess it would not be much more than SA. With that in mind, the oil industry has already made the adjustment for the GCR in the last three years of increases and the world consumer took it in stride with some complaining but not much.
Recent discoveries (public disclosure is more correct) of the amount of oil reserves world wide have indicated that we (the consumer) are not facing any kind of supply problem anytime in the foreseeable future.
One example is Australia has discovered (released information) that they have oil fields that could surpass the reserves of the ME. And the US has begin to disclose we have oil reserves that are larger than any previous fields and contain more oil than what we have consumed since we started using oil.
Anyway, my main point here is that IMO - the oil industry has already made the correction (adjustment) for the GCR - knowing that there is no way they could allow the increase in price overnight on world prices - it would have a drastic negative effect to all consumers.
With this industry in this position the GCR will not come down so hard on the economies as being discussed. One MORE TIME - this is IN MY OPINION –
Post By lcm » August 20th, 2013, • [Post 193] Society, It's my conclusion that the UST is holding the currency. - Bush's plan to redeem them later at the appropriate time for crude. (IMO - at an agreed price of $40 per barrel) which is how the statement of Iraq will pay for this war and it will cost US nothing. again – IMO
Post By mryantodd » August 20th, 2013, • [Post 189] I wasn't able to get onto the CC last night because of all the participation overload issues, but I wanted to thank Bulldogford for the great notes and everyone else that added to the discussion around what was discussed.
Just when I think I have a grasp on things here, another person smarter than me adds some more insight and turns my thought process inside up and upside out... :heeheehee:
I know this will probably cause a lot of heated debate, but I wanted to level set my own expectations again and thought I would share my own reality check with you all on where I am at.
Feel free to rip into this and provide your perspective on whether or not these items are opinion or reality.... it is simply my personal way to keep my expectations from running away with my imagination. I look forward to any comments this may generate.
1 comment:
FIRST THINK LOGICALLY --
IMHO - WHEN THE GCR HAPPENS - ALL MONEY IS THEN/NOW GOLD-BACKED PERIOD...
AND THE OLD FRN - WILL BE PHASED OUT WHILE THE NEW MONEY WILL BE INTRODUCED...IMHO - THE OCT DATE - MEANS NOTHING...ITS LIKE A MARKER FOR EVERYONE TO SEE & TO GET USE TO THE IDEA OF NEW MONEY.
MOST AMERICANS DONT EVEN REALIZE THAT THE FEDERAL RESERVE SYSTEM IS A PRIVATE CORPORATION OF 12 BANKS THE DICTATE TO WALL STREET AND USA, INC. WHAT TO DO??!??!?!?
USA INC. NEEDS TO STEP ASIDE AND ALLOW THE NEW REPUBLIC TO TAKE THE REIGN AND BRING IN THE NEW FINANCIAL MONETARY SYSTEM.
ALL THE BANKSTERS - AND THOSE WHO PLAY THE ROLE OF BEING A POLITICIAN (NOTICE I DIDNT SAY "STATESMEN 0R STATESWOMAN") - THINK ABOUT SOMEONE ELSE FOR A CHANGE...
SO BOTTOM LINE -- IMHO - THERE WILL BE NO CRAZY CRAP GOING ON POST GCR RE. THE DEVALUATION OF THE DOLLAR (?! AGAIN THINK LOGICALLY - IT WILL BE GOLD BACKED :) FINALLY) -- AS THE CABAL WOULD LIKE YOU TO BELIEVE.
REMEMBER - THEY WILL NOT JUST ALL DISAPPEAR AND ROLL-OVER TO PLAY NICE!
LEOPARDS NOT CHANGE THEIR SPOTS AND THOUGH I WOULD LIKE TO BELIEVE THEY WILL, IT WILL TAKE A DECADE OF GOOD ACTIONS FOR ME TO BELIEVE OTHERWISE!
Post a Comment