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IvanKrstich (November 30, 1999 at 12:00 am)
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juxblaze (November 30, 1999 at 12:00 am)
It's not just the loan abuse. The overprice housing market coupled with bad loan approvals are the main reasons. If people just do the math and resist diving into deep loan depth then the free market will have to lower home prices. If your only making 50k a year and buying a 500k loan for a house then bye bye.
kayata123 (November 30, 1999 at 12:00 am)
very good example, do you think you will stop buying things at walmart because they are cheaper or rely even more on walmart for cheap stuff? Have you ever heard of Angola? Right now china is seeking resources meaning they are still growing. Over here in Asia we dont feel the pinch as much as the US does because we tend to save more so we have money on the side. We still buy things made in china, not ipods or iphone. That whole crisis is more on the western world than asia or the middle east.
juxblaze (November 30, 1999 at 12:00 am)
Creditor moves on to what?
juxblaze (November 30, 1999 at 12:00 am)
Hahahh... The demands for those goods come from the U.S market. Ever saw the documentary on WalMart. WalMart owns China.
nicholeddy29 (November 30, 1999 at 12:00 am)
for Abraham worked cause` the currentcy was backed by gold, check your dollar for any GOLD word and you won`t find any, the dollar is not backed by anything, is a worthless piece of paper and i do not see how can the fed could increase the value of the currentcy. plus the fact that the fed is way printing more doolars than it should, i think the fed does not care at all if the currentcy fails, they do not seem doing anything to avoid the inavoidable.
louis12346 (November 30, 1999 at 12:00 am)
better solution is to allow the government to issue enough new debt-free dollars to cover the interest charges not created by the banks as loans:
Instead of taxes, government would be empowered to create money for its own expenses up to the balance of the debt shortfall.Thus if the banking industry created $100 in a year, government would create $10 which it would use for its own expenses. Abraham Lincoln used this successfully when he created $500 million of greenbacks to fight the Civil War
rsouthern (November 30, 1999 at 12:00 am)
Think! The greatest scam in the world is not converting over to the fiat paper currency that's backed by assets. But a fiat paper currency backed by good faith with zero transparency and is sold to the world!
dbleackley (November 30, 1999 at 12:00 am)
Its hard to save when the Fed is working so hard to increase inflation and thereby decrease the value of the money you have in the bank. The US constitution states that US money should be backed by gold and silver. This will solve a slew of all of the problems. I dont know why American's don't DEMAND to have their money represented by physical gold and silver. I would support a Revolution of the citizens of the US against this supreme BS.
ggadguy (November 30, 1999 at 12:00 am)
If you like Jim Rogers, look up Peter Schiff's videos, articles, and his podcast at Peter-Schiff . com. Get out of the dollar. |
