The meltdown occurred already between october 2008 - 2009. Retirement accounts were raped and pillaged in market downturn while banks were bailed out. This deflated our currency over 30%... All the states have issued bonds based on 15 year appreciating property tax revenue. Most states are lobbying for a federal bail out. As soon as the dollar loses its reserve currency status its game over.
January 13, 2011 Peilthetraveler: Reply to SouthAmerica 這是一個講英語的論壇，而不是葡萄牙語。 This is an English speaking forum, rather than Portuguese. By the way, I can read various languages, and I don't have a problem reading stuff in Portuguese. .
The future of US states: It looks like Illinois has opted to raise its State's Income Tax by 66%... And today the New Jersey governor declared that the State of New Jersey is Bankrupt - I guess the state of New Jersey is going out of business according to our governor. ***** âNew Jersey Cuts Bond Sale After Gov's `Bankrupt' Commentsâ By Brendan A. McGrail Bloomberg News - Jan 13, 2011 4:37 PM ET http://www.bloomberg.com/news/2011-...le-51-after-christie-s-bankrupt-comments.html New Jersey Governor Chris Christie has learned that talking about state insolvency may have a cost. About 20 minutes after Christie, 48, told a town-hall meeting in Paramus today that health-care costs âwill bankruptâ the state, the New Jersey Economic Development Authority cut its tax-exempt school-related bond offering by more than half to $712.3 million.... .
January 26, 2011 SouthAmerica: Barack Obama gave a nice speech last night, but in my opinion, it's too late on the game, because the United States has passed the point of no return. The truth is the US economic system is becoming obsolete faster than most Americans realized, and Americans lost their vision of the future regarding the United States economy, and the smart money is investing in emerging markets around the world â that is where the future lies and new innovations and technologies will be created. The United States is becoming irrelevant in foreign affairs very fast, and we can see the growing evidence of that trend in South America, the Middle East, Africa, and in Asia. The US economic system is imploding one step at the time on a constant downward spiral â and this implosion it will be more evident in 2011 and 2012 when the states around the United States are forced to cut their budgets to the bone, and local governments will join on this budget cutting process reinforcing even further this US economic implosion. The federal government also will be forced to make major budget reductions in the coming years putting even more pressure into the downward implosion spiral of the US economy on its trip towards the black hole. The only reason the US economy has not had a total collapse like the Soviet Union as yet, it is because of all kinds of massive US government intervention into the US financial system, and also because of the special status that the US dollar enjoys â the privilege of being the main foreign exchange currency â But the rest of the world started realizing that the US government is completely out of touch with reality regarding the intrinsic value of the US dollar and the declining importance of the US economy in the coming years as a share of the total pie of the global economy. In a nutshell: The reality of the new global economy in the 21st century is that it's operating under a completely obsolete international monetary system based on the US dollar â and a currency backed by nothing other than a computer screen that can create any digital bookkeeping entry and add to bank accounts any number followed by as many zeros they want. It doesn't matter if the Federal Reserve wants to create US$ 1 trillion or US$ 10 trillion â the only thing that is behind this money creation from nothing â this magic act â it's the current trust that people has around the world on the future of the US economy â and that trust can disappear in the blink of an eye. But as soon as people realize that the US economic and financial system is imploding just like the Soviet Union â the final massive meltdown will materialize fast, and this time around Americans and the world in general it will not have the US government to serve as safety net, since the US government and the states around the country also it would be bankrupt and discredited. It will be not just a meltdown of the US economic and financial system, it will be the collapse of the international monetary system into the biggest monetary crisis the world has ever seen. If you are smart enough to connect the dots, then you can see the big picture, and you will be able to grasp what I am saying â the collapse is underway and the only thing the US government can do at this point is buy some time until 'when you least expect' the day of reckoning arrives at the speed of light. When the final implosion of the US economic and financial system arrives, probably the process it will happen faster than the final implosion of the Soviet Union system. Regarding US defense spending and the US military adventures around the world â just look what happened to the Soviet Union military and its influence around the world after the collapse of the Soviet Union, and that gives you a snap shot of what happens to the military of former superpowers. ********* January 26, 2011 Two friends of mine mentioned to me that they had seen the enclosed video, and that Jim Rogers and I were quoted on this video. About 220,000 people have seen this video so far in two locations on the net, and I am quoted on this video around the minute 40 into the video presentation. Porter Stansberry Research - The End of America â December 14, 2010 http://www.youtube.com/watch?v=nI-BIVWlc7A&NR=1&feature=fvwp .
January 27, 2011 SouthAmerica: I explained on this article some parts of the process that are helping today in the implosion of the US economy. There are other factors as well that I did not mention on this article that when you connect the dots then you can grasp the slow motion downward spiral of the US economic collapse that is underway. Brazzil Magazine - September 06, 2006 - âWhile the American Dream Is Outsourced Brazil Drives the World into the Futureâ - Written by Ricardo C. Amaral http://www.brazzil.com/component/content/article/171-september-2006/9684.html ...Technology Changed Everything - Right now, we are in the middle of a historical turning point. In the last few years we had a revolution in technology, and today we can do things that were not viable only two years ago. ⦠Article about John Maynard Keynes and Joseph A. Schumpeter. *** I am showing to the readers where the cracks are located on the dam wall, but there are $ 25 trillion US dollars which represents over 70 percent of the US dollars ever created, and they are flying around the world completely outside of the power and the influence of the US government including the US Treasury and the Federal Reserve Bank. When the dam wall finally breaks it will flood everything on its path. The US economic and financial system lost a lot of clout and prestige around the world, since the financial crisis of 2008. And since that time many countries have been taking action to distance themselves from the US dollar â and these are small actions by this country and that country, but when you take it as a whole then you start having a significant impact on the US dollar. The dam wall is full of cracks, but you don't know which crack it will be the one to finally cause the entire dam wall to collapse. The trillions of US dollars that are flying around the world as any commodity that has a massive over supply of it â the smart money is going to get out of the US dollar before the herd realizes what is going on â and when the herd gets spooked, then we will have a stampede and the final US dollar meltdown. *** I suggest for the readers to watch these 3 short videos and what Michael Hudson is saying about the US economy, and regarding the fact that the US dollar has reached the end of line regarding its status as the main foreign reserve currency. Michael Hudson has a very good understanding of what is happening to the US economy and the US dollar â he has grasped what is at the core of US economic implosion and its decline into a black hole. 1) Will China's Yuan overtake US Dollar? http://www.youtube.com/watch?v=WhmLGohgSMc&feature=player_embedded# Michael Hudson Professor of economics University of Missouri December 29, 2010 2) America is about to slide into third world status? http://www.youtube.com/watch?v=gub6PigiOBY&feature=related 3) US Black Debt Hole: 'We want you all bankrupt!' http://www.youtube.com/watch?v=8P1fihT5B7o .
January 29, 2011 SouthAmerica: Enjoy the videos: This video becomes even more interesting after what has been going on in Tunisia, Egypt and other countries around Africa, and the Middle East. Gerald Celente: Internet nuke bomb waiting to go off - January 10, 2011 http://www.youtube.com/watch?v=VO45VBO6Swo&feature=player_embedded ***** Will China buy what US is selling? http://www.youtube.com/watch?v=_ArAXR6phB4&feature=related ***** Foreclosure crisis far from over â Nomi Prins â January 26, 2011 http://www.youtube.com/watch?v=noSKF9RRqn8&feature=player_embedded .
January 30, 2011 SouthAmerica: Enjoy these videos!!!! Here's how China is going to use the trillions of US dollars that China is accumulating http://www.youtube.com/watch?v=WI1i5yhwOz8&NR=1&feature=fvwp *** The future of the US economy and the US dollar â and here is an example of how China will be able to collect the US$ 4 trillion dollars China lent to the USA. Hyperinflation Germany 1923 http://www.youtube.com/watch?v=IoXCvwVO1J4&feature=related *** Money, Banking and the Federal Reserve http://www.youtube.com/watch?v=iYZM58dulPE&feature=related *** History Channel - Prophets Of Doom â January 6, 2011 http://www.youtube.com/watch?v=nSpLUpiMkj0 .