gatta link for that Friar?

i'd like to see it

I tend to agree with Gen. Once Greece exits and leaves the rest of the Eurozone holding the bag, other nations will realize they can do the same thing and follow suit. Once that starts...

Vegas: http://www.rightpundits.com/?p=7626

One of many, but a decent summary

Greece = fuse (which is now lit)
??? = HE pre-ignition charge (any bets? Ireland?? Portugal?? Spain??)

When the HEs blow, we go thermonuclear...

I thought he mentioned Greece as a catalyst in that episode but after watching the first couple mins he's more worried about China turning off the bond spigot


Just search engine glen beck 15 days I can't do links fer **** in iPhone

Timeline...

Pt 1http://www.youtube.com/watch?feature=pla....

Pt 2 (shows The Time line itself...)
http://www.youtube.com/watch?v=iOs1vY53W....

Pt 3 http://www.youtube.com/watch?v=onrqwuY-2....

This has been the longest, dragged out ****ing **** that ever was.

Jesus.

Mo wrote..

This has been the longest, dragged out ****ing **** that ever was.

Well, sure. TPTB and the FSA are fighting to keep the gravy train rolling for as long as possible. It's in their best interest to do so.

The current situation in Greece MAY be the tipping point that we all know is inevitable. But we underestimate the can kicking ability of the central banks at our own peril. They will keep kicking until they simply can't kick any longer. Personally, I think they still have a couple of kicks left in them.

Each kick, of course, makes the ultimate outcome even worse. But they are way past the point of worrying about that. If you are dead either way, who cares if you are "deader"?

Once we see a clearly failed kick, "Kaboom" will be just around the corner. Until then I expect to see a series of situations needing still another kick, separated by ever decreasing amounts of time.

We won't know which kick will fail in advance, of course, and the current situation in Greece could mean the next kick fails. But personally, I think it is more likely that Greece leaves the EU in June or July, coupled with a semi-successful attempt to control the damage.

THE FIRST KICK AFTER GREECE LEAVES is the one I expect to cause the odds of a domino effect to rise exponentially. THAT KICK will mean the EU's attempts to control the damage have failed. The message may even be so clear that even your average banker will understand. Once your average banker "gets it", it's "over".

None of us know what the details of "over" will be, but I'm pretty sure a society as complex as ours cannot survive for long without a viable medium of exchange.

Agreed Mo, if I see another, 'man this is really happening quick' post, I'm going to go ape****.

OK, question from a financial know-nothing (although I know enough to come here) who is scared at the vision of Tickercon 1:

As far a preparations go, which is better: to take some savings and pay off the mortgage or to keep the mortgage and use those savings to buy some more food, security items, etc.?

If the dollar becomes worth less (hopefully not worthless) and the mortgage loan is a contract to pay a certain amount of dollars per month, would it not be better to pay the mortgage with devalued dollars rather than to try to buy in-demand items at fluctuating prices using dollars that are devalued? I could potentially do both, but that would put me at about zero savings and I'm not sure that's the best approach to deal with what looms before us either.

Thanks in advance for any advice, even if it may be too late at this point for me to act upon it (curse my financial analysis-paralysis)!

you forgot the part about the USD becoming Priceless — in which case you would want lots of it

Would TPTB want the USD to be priceless?

Could they even stop it?

I've heard discussions about precious metals being hit with some sort of tax upon redemption for USD. Along the same lines, wouldn't they tax the heck out of new purchases to prevent a potential winfall for people with great amounts of cash?

If goldbugs get hit, wouldn't cash hoarders suffer the same fate?

Quote:

I've heard discussions about precious metals being hit with some sort of tax upon redemption for USD. Along the same lines, wouldn't they tax the heck out of new purchases to prevent a potential winfall for people with great amounts of cash?

WHAT??

No—— .Gov wants people to be in cash
they don't like gold because it is an affront to USD which is why they tax it — to push goldbugs back into USD

IMHO, you are premature, KD.

Nuke, I hope you're right.

I fear you're wrong.

I agree Nuke, and I suspect in terms of timing we have another 3-5 years until we have the real *kaboom* in the US.

I believe we have less time.

Anytime.
Between monday and 4 years.

Greece lights the fuse?
Don't think anyone can say when or how bad.

bob

3-5 years is way too long. 2 at the most...but I thought that 2 years ago.

I don't know if they have enough skittles to cover the turds floating to the surface anymore

Well, I've been saying for a over a year now that the $#!t was going to hit the proverbial fan between February 2012 and February 2013... obviously I would sooner be wrong and have our economy start to organically grow again. However, nothing I've seen since 2008 has suggested anything approaching a recovery and everything has been due to a massive and (almost) unprecedented increase in (US and foreign) government debt. That was the last bubble and I think that it's about to burst. Tickercon 0 here we come.

Great line from Kunstler this week:

All the nations where people wear clothing are in desperate trouble. Their debt problems are insoluble and they're out of accounting tricks. Events are running way ahead of institutions and personalities.

Full Link for 6/4: http://kunstler.com/blog/2012/06/welcome....

Looks like we have another week... or maybe two.

Get your sleep -- you're gonna need it.

We're certainly very near a major crisis point. Perhaps a crisis big enough that the EU, alone, can not muster enough fire power to kick down the road once again.

But waiting in the wings is the Fed. There are myriad ways the Fed can bail out the ECB, and Spanish banks, and whatever else they please. It might/would be illegal, but that hasn't stopped them yet. U.S. law be damned. Besides, to the current administration, the end justifies the means (i.e., hold things together long enough to re-elect the "light bringer" Obama at all costs). Collateral damage, no matter how severe, simply does not matter.

Without the ability to audit the Fed it's not even clear how or when we would find out what they did.

This is a long winded way to say I think TPTB still have at least one can kick left. I'm hedging my bets, of course, and topping off a few emergency supplies...