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Old 02-13-2013, 02:41 PM   #31
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

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Originally Posted by n00bie
I think he's referring to the future. He's stating the fact that If the economy collapses, it will be like Zimbabwe.

That the fact that he is mentioning Zimbabwe pretty much instantly discredits himself because the situation in Zimbabwe is nothing like the situation the US is in. You can pay for goods and settle debts in US dollars all over the world. That is not the case for the Zimbabwean currency.
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Old 02-13-2013, 02:48 PM   #32
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

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Originally Posted by KevinNYC
That the fact that he is mentioning Zimbabwe pretty much instantly discredits himself because the situation in Zimbabwe is nothing like the situation the US is in. You can pay for goods and settle debts in US dollars all over the world. That is not the case for the Zimbabwean currency.

That's true for the present. But what if the US dollar loses its value, and no one wants to trade in US dollars anymore?
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Old 02-13-2013, 02:52 PM   #33
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

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Originally Posted by KevinNYC
That the fact that he is mentioning Zimbabwe pretty much instantly discredits himself because the situation in Zimbabwe is nothing like the situation the US is in. You can pay for goods and settle debts in US dollars all over the world. That is not the case for the Zimbabwean currency.

You don't understand.

The situation in the US is not the same as in Zimbabwe right now, but IF/WHEN an economic collapse would have happened the situation would be the same as the dollar would be worth basically nothing. And in that situation you would not be able to pay for goods and settle debts in US dollars all over the world.
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Old 02-13-2013, 02:58 PM   #34
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

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Originally Posted by Norcaliblunt
Lol. Yeah it figures no one here would have the brain capacity to comment on the articles I posted, because each one actually deals with real life solutions and political action.


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Old 02-13-2013, 03:02 PM   #35
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

When the dollar loses its value, US goods become really attractive all over the world and exports of our goods and services go way up.

I just started to watch the first two minutes of the video and the guy takes a joke from Paul Krugman and misunderstands it. Then he talks about the trillion dollar coin which was 100% about the debt ceiling and nothing at all about the economy and completely misunderstands that.

Quote:
Berwick has been a regular contributor to editorials on the StockHouse websites from 1995 to present and contributes to numerous popular libertarian and finance sites including LewRockwell.com and writes a libertarian, Austrian economics focused financial newsletter called The Dollar Vigilante.[3] He is the host of Anarchast,[4] an anarcho-capitalist video and audio podcast show. He is also a regular speaker at international investing, finance and liberty conferences including Libertopia,[5] FreedomFest,[6] New York Hard Assets Show,[7] PDAC[8] and the Vancouver Resource Investment Conference.[9]. He also is the founder of global citizenship and passport services company, TDV Passports and founder of a libertarian expat community near Santiago, Chile called Galt's Gulch Chile

You can see by his beliefs that he wants governments to fall to justify his worldview. There has been a real world experiment going for the past 5 years. Guys who hold this hard-currency view like Berwick have told us that the Fed's policies should be inflationary, that we should be having massive inflation in the US and the US should be finding it hard to borrow. The exact opposite has occurred. I bet if you go back through Berwick's editorials you'll find he has been predicting collapse in 2009, collapse in 2010, collapse in 2011, etc.

Berwick also describes himself as a "Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks. "
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Old 02-13-2013, 03:04 PM   #36
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

Quote:
Originally Posted by KevinNYC
That the fact that he is mentioning Zimbabwe pretty much instantly discredits himself because the situation in Zimbabwe is nothing like the situation the US is in. You can pay for goods and settle debts in US dollars all over the world. That is not the case for the Zimbabwean currency.


you don't have to look at the comparison as if they were exactly equal in quantifiable terms. you seem to close off every analysis when you see zimbabwe's inflation is at 500 or 1000% while the US is nowhere close to that. they're obvious not the same in those terms, but the theory of money destruction is applicable to both.

if you understand the impact of reckless money printing, which is what the us is doing now, and how that drives inflation, you will see what the us government doing is not that dissimilar from the zimbabwe government, except zimbabwe was a far extreme case.

the united states does not and will not reach ridiculous 1000% inflation rates, but just a relative hyperinflation of 20% is enough to cripple a lot of folks.
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Old 02-13-2013, 03:23 PM   #37
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

Quote:
Originally Posted by ZenMaster
You don't understand.

The situation in the US is not the same as in Zimbabwe right now, but IF/WHEN an economic collapse would have happened the situation would be the same as the dollar would be worth basically nothing. And in that situation you would not be able to pay for goods and settle debts in US dollars all over the world.

This guy is not saying IF. He's convince himself that the US is on the road to Zimbabwe. Which is a way of saying he hasn't actually studied economics, he's only studied the branch of economics, he agrees with, Austrian Economics where it's always 1923 in Germany and where it's always Zimbabwe all the time. Even among Austerians and goldbugs this guy Berwick is a clown.
Quote:
Let’s take the US as example. I consider the US to be what I call a Fasco-Communist Police State.

Look if you believe this guy that very soon US dollars will be worth they paper they are printed on, I will sign a contract with you right now to take all your dollars off your hands at three times the paper price at any time in the next ten years.
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Old 02-13-2013, 03:23 PM   #38
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

Guy is an entrepenuer trying to sell his books, u guys are getting played. So is the guy on late nite info mercials that promises u could make four k a week if you read his book .
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Old 02-13-2013, 03:31 PM   #39
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

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Originally Posted by DCL
you don't have to look at the comparison as if they were exactly equal in quantifiable terms. you seem to close off every analysis when you see zimbabwe's inflation is at 500 or 1000% while the US is nowhere close to that. they're obvious not the same in those terms, but the theory of money destruction is applicable to both.

if you understand the impact of reckless money printing, which is what the us is doing now, and how that drives inflation, you will see what the us government doing is not that dissimilar from the zimbabwe government, except zimbabwe was a far extreme case.

the united states does not and will not reach ridiculous 1000% inflation rates, but just a relative hyperinflation of 20% is enough to cripple a lot of folks.

20% is not hyperinflation. Yes, I agree that will not be good. What the US is doing is absolutely dissimiliar from the zimbabwean government. Of course, we are not near 20% inflation in the US and we never have been near 20% in my lifetime.

You are really comparing Texas to Jupiter in your example. I think you need to understand the difference between what the US has done in the past 5 years and truly "reckless" money printing. For that you need to understand what the "zero lower bound" is and how the US has been near that for 5 years, which is similiar to the situation Japan has found itself after its real estate bubble. I don't know enough to explain the zero lower bound easily.
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Old 02-13-2013, 03:45 PM   #40
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

Quote:
Originally Posted by KevinNYC
20% is not hyperinflation. Yes, I agree that will not be good. What the US is doing is absolutely dissimiliar from the zimbabwean government. Of course, we are not near 20% inflation in the US and we never have been near 20% in my lifetime.

You are really comparing Texas to Jupiter in your example. I think you need to understand the difference between what the US has done in the past 5 years and truly "reckless" money printing. For that you need to understand what the "zero lower bound" is and how the US has been near that for 5 years, which is similiar to the situation Japan has found itself after its real estate bubble. I don't know enough to explain the zero lower bound easily.

for the US, 20% is hyperinflation, dude. you don't need to always use textbook definition. hyperinflation should just be defined as unhealthy inflation that's way too fast and hot to handle. 20% inflation in the united states is enough to do that.

and you shouldn't bet your house that you'd never see 20% inflation in the US in your lifetime. we've reached high levels of double digit inflation only several decades ago without the "reckless" money printing in place.

but you are only focusing on the scale of operations, hence, your texas and jupiter comment. but printing more money than what the economy can handle is reckless money printing. with QE-infinity in the hands of the fed, they're playing a dangerous game. no, it won't reach levels of germany or zimbabwe, you don't need to get hyped out over those comparisons, but when you keep on printing money like there's no tomorrow, inflation of unmanageable levels is inevitable.
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Old 02-13-2013, 04:02 PM   #41
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

Quote:
Originally Posted by DCL
for the US, 20% is hyperinflation, dude. you don't need to always use textbook definition. hyperinflation should just be defined as unhealthy inflation that's way too fast and hot to handle. 20% inflation in the united states is enough to do that.

and you shouldn't bet your house that you'd never see 20% inflation in the US in your lifetime. we've reached high levels of double digit inflation only several decades ago without the "reckless" money printing in place.

but you are only focusing on the scale of operations, hence, your texas and jupiter comment. but printing more money than what the economy can handle is reckless money printing. with QE-infinity in the hands of the fed, they're playing a dangerous game. no, it won't reach levels of germany or zimbabwe, you don't need to get hyped out over those comparisons, but when you keep on printing money like there's no tomorrow, inflation of unmanageable levels is inevitable.

And the high inflation was broken by the actions of the Central Bank following the same countercyclical Keynesian prescriptions the Central Bank is doing now. Berwick the zimbabwe-lover hates Central Banks.

Why do you think the amount of money in circulation is more than the economy can handle? It seems to me that past several years have been an experiment, an experiment that has shown quite convincingly, the economy right now can handle that amount of money without inflation.
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Old 02-13-2013, 04:21 PM   #42
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

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Originally Posted by KevinNYC
And the high inflation was broken by the actions of the Central Bank following the same countercyclical Keynesian prescriptions the Central Bank is doing now. Berwick the zimbabwe-lover hates Central Banks.

Why do you think the amount of money in circulation is more than the economy can handle? It seems to me that past several years have been an experiment, an experiment that has shown quite convincingly, the economy right now can handle that amount of money without inflation.


because the money is currently mostly held up in reserves and not fully utilized in the united states. it hasn't been "fractionally" extracted or multiplied yet so it's not fully in circulation, but the money is sitting there and that is the threat because it serves as a potential bomb because once it's extracted, it's not easily reversible.

but if you look at where a lot of money has been going to, it's been going to higher return areas areas (particularly foreign investments). QE shows the most visible results in the small countries that have been eating pieces of QE. ie. Singapore, Hong Kong, South America. those countries didn't even print money, but they had a huge money supply injection through hot money that was created by QE, and they're experiencing some crazy price level gains.

but i don't subscribe to the idea that "hey, there doesn't seem to be any real hurt yet, so let's keep on doing it" concept. you might not see a mess now, but you should see the threat that can cause a real mess. so if it's unhealthy, and you do it enough, eventually, something bad will happen. just hope we can manage to get through that mess.
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Old 02-13-2013, 04:36 PM   #43
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

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Originally Posted by Norcaliblunt
Lol. Yeah it figures no one here would have the brain capacity to comment on the articles I posted, because each one actually deals with real life solutions and political action.





I've read part of your posts but i'm in the middle of cooking/playing some Metroid Prime so imma have to come back to it a little later. Skimmed through some more and it's some pretty interesting stuff, i've seen a lot of articles with some similar points as well
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Old 02-14-2013, 07:41 AM   #44
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

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Originally Posted by n00bie
And how would they keep the US afloat? Print more money out of thin air to bail out gov'ts & banks again? Putting more debt into the economy?

No you simple f*cking tw@t they need the US for their own self-preservation, because in pretty much every major economy in the world the US is one of if not their biggest trading partner. If the US economy dried up and became useless, kind of like your brain in the above post, then EVERYONE would feel the pain. China, Europe, Canada, Korea, Latin America pretty much the entire globe outside of the f*cked up dictatorships that suck at shooting rockets into space NEED the US economy to help themselves stay afloat. Without it they are screwed too.

We are all intertwined, its not like the US will drop like a rock and someone else will step up, everyone will run for cover, ergo facto retardo posto, they won't let it happen, they will prop up the US with endless loans and keep them chugging along.
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Old 02-14-2013, 07:57 AM   #45
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Default Re: Jeff Berwick -Get Far Away From The U.S... Collapse Will Be Messy

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Originally Posted by JtotheIzzo
No you simple f*cking tw@t they need the US for their own self-preservation, because in pretty much every major economy in the world the US is one of if not their biggest trading partner. If the US economy dried up and became useless, kind of like your brain in the above post, then EVERYONE would feel the pain. China, Europe, Canada, Korea, Latin America pretty much the entire globe outside of the f*cked up dictatorships that suck at shooting rockets into space NEED the US economy to help themselves stay afloat. Without it they are screwed too.

We are all intertwined, its not like the US will drop like a rock and someone else will step up, everyone will run for cover, ergo facto retardo posto, they won't let it happen, they will prop up the US with endless loans and keep them chugging along.

So you're saying that these "endless loans" will keep our economy afloat forever?? Loans are not free, there's interest on them, which is where our tax $ will be going. You must be the typical guy who has 20 credit cards, and multiple loans thinking the banks are giving you free money.
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