Al and Jeff comment on Nancy Pelosi’s comments over the weekend.
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Oh I am not sure I would down grade her intelligence, cfs. She is one hell of a powerful politician.
Now, that certainly doesn’t mean that we have to agree with her, does it!
Big Al
Have always felt that Pelosi is actually a perfect representation and reflection of the intelligence and integrity of her district.
MNH,
Trust me, we have some very good friends who live in “her district”. They are certainly not in agreement with her, but so what man, it is a free country.
Best,
Big Al (Who by the way certainly does not agree with her!)
Jeff,
I would predict that the cost of carrying the deficit will not rise because of rising interest rates, but only due to additional annual deficits. My belief is that the Federal Reserve will print enough to cover all expenditures.
The eventual problem will not be rising interest rates, but a dropping value of the dollar or even the absolute refusal of sellers of goods to accept the dollar as payment.
Since within the US it is impossible to refuse to accept the federal reserve note, it is only International trade that will drop. Inflation will exceed interest rates for many years of financial repression ahead and it may take decades before no one will accept dollars in trade. The can is going to be kicked much longer down the road than most people would believe possible.
Merchants can choose to accept whatever they like for payment. To say that the dollar is legal tender is not the same as saying that it must be accepted for payment. The reason we haven’t seen it refused is that businesses would lose a lot of customers. When the risk in holding dollars exceeds the risk of losing customers, we’ll see refusals pop up everywhere. THEN we might see laws forcing acceptance. Following that, we’ll see businesses closing.
Actually, merchants can only refuse to accept US currency in one specified situation – when the customer tries to pay with too many cent coins,
Actually,Saddam attempted to sell oil in Euros.
‘Petrodollar Warfare’ is a lynchpin of US supremacy,which now comes down to military brutality to continue the domination game.Iran,Venezuala,Iraq,the entire axis of resisting evil.
http://en.wikipedia.org/wiki/Petrodollar_warfare
This all leads to disrespect of the entity and that leads to lack of confidence which leads to the reality that America loses all respect it has left and -boom-goes the currency confidence game America ruled the world with.
Sadly, I have to agree with you Matt!
Big Al
cfs2000, that is not true. A private business can refuse to do business with anyone. Everyone still has the right to trade on terms that are acceptable to them.
If you’re right, imagine the implications of such force. Someone who places a classified ad to trade a good or service for another good or service could be forced to deal in cash. I would just like to see the law. Where is it written?
Hi Matt,
Might find that a bit hard to enforce today!
Big Al
Matthew,
True, bartering always is a possibility, but try and create a new currency, like Liberty dollars and…..
http://sovereignthink.wordpress.com/2011/03/22/life-in-prison-for-federal-competition-silver-death-sentencing/
Of course, Ms Pelosi must also be remember for the statement that increasing/extending unemployment payments is the best way to decrease unemployment.
Wait a minute, cfs, she said that?
Big Al
A parody using her exact words can be found at:
http://m.freedomworks.org/blog/jborowski/actually-nancy-pelosi-unemployment-benefits-do-not
I think the problem came when those guys put “dollar” on the coin. Big mistake. And life in prison was to make an example of the guy.
Pelosi is a ridiculous cartoon.
I don’t see how using the word “dollar” can be illegal, since that word is actually used in over 50 countries. …. Australia, Canada, New Zealand, Bahamas, etc.
Yes, but “dollar” is used only by nations for their “official” money; not by private companies producing and selling rounds for investment purposes.
By the way, it can’t be the design or the word “liberty” or A-Mark would have had a problem by now.
http://www.google.com/search?q=A-Mark+Liberty+Silver+Rounds&hl=en&client=safari&tbo=d&rls=en&source=lnms&tbm=isch&sa=X&ei=lEkZUcvlJ4f68gSP6YG4DA&ved=0CAoQ_AUoAA&biw=1020&bih=658
Buy twenty, scratch off the small print, erase the debt!
http://www.americanmint.com/templates/user_page_2000_2/article_pictures/8220100B01.JPG
Come on, you can’t really expect US “justice” (prison-industrial complex) professionals to be aware of this. They couldn’t tell Liberia from Lisbon on a map.
WOMEN IN GERERAL DO NOT HAVE A SPENDING PROBLEM…..they just do not know where money comes from……duh…..hummmmmm
Oh,,,,SHE is a real estate tycoon or at least her husband is……AND AS THEY SAY IN THE REAL ESTATE BUSINESS “OPM”………other people’s money
we must all respect POLOSI….AFTER ALL HER FATHER WAS A POLITICIAN…..
I don’t have a drinking problem. I have always been able to find a drink.
Some people do have a problem. I remember an incident where I was making my way back to the bar when some stumbling drunk stepped on my hand.
FredB,
Ha, HA,HHHAAAAA!
Now you are sound like me, Fred B!
Big Al
No, actually. Nancy is correct.
There is a lack of revenue. I suppose a taxation rate in excess of 100%, and some belt-tightening from the “Beltway” MAY bring the debt under control. But, I doubt it.
The train to financial hell is far faster than AMTRAK.
As Rick Rule has long said: “When your output exceeds your income, then your upkeep becomes your downfall”.
Nancy should go to the place they sent JON NADLER, they can keep one another company whilst reading from the works of Von Mises and Doug Casey and, of course, the occasional commentaries from Big Al and Jeff Deist.
Nancy Pelousi wants to take the $8 Trillion in USA pension money and convert it to Treasury bonds where is goes valueless. I would be hard pressed to find a congress person who has done more economic damage to America via Obamacare and other stuff she has done. – Traderrog
Roger Wiegand
traderrog@comcast.net
http://www.tradertracks.com
http://www.letustrade.net
http://www.wavelengthpublishing.com
Roger,
Please provide source for this comment.
Thanks,
Big Al
If true,there goes the country.
Lots of places on the globe to retire to and escape the US-they are called ‘tax havens’.
Get out while the going is good.
if your money is still in the US you missed the boat. There is now an exit tax if you try to take it out.
Oh, don’t worry, still plenty of boats on sale in the US. Sailing across the pond to sell them in SE Asia is “a breeze” – just ask ex-South Africans, they had to resort to similar voyages.
That is certainly true, Matt.
Please watch Dr. Carson’s speech which Jeff posted yesterday. There is hope!
Big Al
As all time honored survivors do: Wealth goes into gold or jewels and the bag is packed.
For those who are lucky enough to have become unfamiliar with the time-honored principle, this is part of a well-written account:
http://fcit.coedu.usf.edu/holocaust/people/lenk03.htm
Al: the source for the commnet on Pelousi’s $8 trillion has been commonly in the news in many quality places over the past 3-5 years. She copied the idea from the gal running either Argentina or Brazil. We all know how that worked out. I think this one goes on the table after the dust settles on the debt ceiling and other problematic nominations. Obama has other matters on his plate for now.
I normallyl only trust Bloomberg, the WSj, or The Daily Telegraph senior reporters. Many of the other sources we see daily are suspect for sure. Pelousi is not kidding she is for real. I am entitled to my forecasts and predictions no matter how wild but this is fact reported several times. I am out on a limb for my forecasts for Q-4 this fall but that is what I can see perceived on logic. It took me a long time to figure this stuff out. I might be late or early but that is what I truely believe. I think there is a 75% chance of major stock crash in Q-4 extending for six months into 2014. If I’m wrong the whole world can laugh at me. I least I have the guts to stand up and say what I believe- right or wrong. – Traderrog
Roger Wiegand
traderrog@comcast.net
http://www.tradertracks.com
http://www.letustrade.net
http://www.wavelengthpublishing.com
Ms Pelosi’s intelligence is well known to be as diminutive as her stature.