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Mike Maloney: The Dollar As We Know It Will Be Gone Within 6 Years
Submitted by Adam Taggart via Peak Prosperity,
This week's podcast sees the return of Mike Maloney, monetary historian and founder of precious metals broker GoldSilver.com.
Based on historical patterns and the alarming state of our current monetary system, Mike believes the fiat US dollar is in its last years as a viable currency. He sees its replacement as inevitable in the near term -- as in by or before the end of the decade:
All of this is converging with the crazy experiments the Federal Reserve has done.
I absolutely believe that there are economic consequences to this that are inescapable. The Fed is not just in a box; a trap has been set. And before the end of this decade, if there is still a US Dollar around it will not be this US Dollar. It will be a dollar that is tied to a very different monetary system.
The last three shifts in our monetary system were little baby steps off of the classical gold standard where it was fully backed. We went down to a 40% reserve ratio with the Federal Reserve in the United States during the Gold Exchange Standard. Then the Bretton Woods system didn't have a reserve ratio specified, but I believe the dollar was about 8% backed by gold by the time Nixon took us off of gold in '71. Now, the only backing that the US Dollar has is the promise to tax us all in the future: it is US Treasury bonds, or the Fed doing its quantitative easing and buying mortgage-backed securities.
And how corrupt is the notion that you can give some entity the power to have a check book that has a $0 balance and they can go out and buy anything they want with that and it just creates currency? That is corrupt in itself.
Think about how immoral this is. First of all, the Fed whipped up that currency not out of thin air but by indebting the public. They buy a Treasury bond or a mortgage-backed security, and now they own the mortgage on your house or they own a Treasury bond that you are going to work for in the future and pay taxes to pay off. And so they give all of this currency to the banks, and then they pay them interest to not loan it out or otherwise stimulate the economy. So they are giving them the gift of interest.
By the way, any profits that the Fed has at the end of the year are supposed to get turned over to the Treasury. Well, they are paying the banks interest that reduces the amount that they give to the Treasury by exactly that amount. So in other words, the public is paying those banks interest. That's where all of the interest comes from. We're not seeing those profits passed on to the Treasury anymore.
Anyway, I do think that this system is coming to an end before the decade is out. The other shifts in our monetary system were baby steps off of gold. Now we have to go from nothing most likely back to something. And it's going to be a financial, economic convulsion the likes of which the world has never seen. It is going to affect everybody on the planet. During the last three monetary shifts, it was only the world's central banks and big international banks that were affected and were worried. The common man didn't even know what was going on. With this one, everybody is going to feel it. Everybody is going to know it. You will either be a winner or a loser, but everybody is playing this game.
Click the play button below to listen to Chris' interview with Mike Maloney (51m:18s):
Full Transcript
Chris Martenson: Welcome to this Peak Prosperity Podcast. I'm your host, Chris Martenson and today we are talking with the host of The Hidden Secrets of Money, noted speaker, best-selling author on monetary history and gold and silver investing, the CEO of GoldSilver.com—we are talking with Mike Maloney. Somebody who I consider to be both a fellow educator and a friend in this business. Welcome, Mike.Mike Maloney: It's great to be here, Chris.Chris Martenson: I don't have many regrets but one of them …
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Tyler, come on, we've been saying that for six weeks now. Where's our check?
Let's see deeds to properties in Mallorca and Canary Islands, check.
Swiss safety deposit box with all dollars converted to Precious Metals, check.
Fueled Helicopter check
Jet at local airport fueled and on standby, check.
Family already offshore in the Balearic islands, check.
Dual citizenship passports distributed, check.
Continue pilaging and converting dollars to basket of currencies, check.
Buy more ranches in Brazil and Argentina as I liquidate my dollar positions, check.
Pick day for 2008 style meltdown, still on TO DO LIST.
what fucking shit do I give about America and the dollar, SUCKERS.
I love the sound of the dollar death rattle in the morning.
Ok, so what other capital market will have the depth required to replace the dollar within the next 6 years? This is chicken little sky is falling bullshit to sell gold!
The world is switching to cryptocurrencies. They can't print it.
if a whole bunch of countries are using their own currencies, you have substituted depth of market with width of market, thus maintaining the overall volume
Very few people understand the true value of Debt Money Tyrant debt instantiated dollar.
It is a societal enslavement mechanism.
Because people don't understand this, they conclude that the Debt Money Tyrants are going to hyperinflate the debt dollars BEFORE they enslave society to the debt.
This is wrong.
Every dollar outstanding is a debt (excepting coinage).
You can't "walk away from the dollar" anymore than you can "walk away from your mortgage" or you car loan or your studen tloan.
Well, you can still walk away now, but the tax hit you must pay is in debt money, too... so you still need it!
And when everyone starts defaulting, expect defaulting on the debt to become a criminal offence.
No, the people who own / control trillions in debt paper and trillions more in debt receipts (you think of debt receipts as "money") aren't going to zero out their wealth and bail out debtors.
They are going to enslave debtors and seize all their chit FIRST, THEN they may well hyperinflate and move to the next monetary system. But only then.
Overlooking the deflationary spike pit that precedes the new monetary system is asking to be impaled by one of its spikes.
if the pols decide a debt jubilee will keep them in power, they will do it - but they have been bribed and bred and educated that debt must be payed even if that debt destroys them. many here on ZH view debt held by .gov and many common folk (think student debt as one example), as created with nothing and is fraud-when this view gains power and common folk become aware of the true scam called public debt..well then those in .gov will have a chance to do the unthinkable..nullify debt.
>>if the pols decide a debt jubilee will keep them in power, they will do it<<
I disagree. Look at the Republicans in government who literally abuse their base's desires in order to further the agenda of the Debt Money Power THAT PUT THEM IN POWER IN THE FIRST PLACE.
They know this will turn their base against them, BUT THEY DO IT ANYWAY.
The Debt Money Power doesn't finance and promote people to pursue an individual agenda... but the agenda of the Debt Money Power.
If a faithful servant gets removed from office, they will be taken care of in the private sector.
Politicians are Debt Money Power operatives... nothing more, nothing less.
-------------------
The Money Power Seeks to Create a World System of Financial
Control in Private Hands Able to Dominate Every Nation on Earth
In addition to these pragmatic goals, the powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank, in the hands of men like Montagu Norman of the Bank of England, Benjamin Strong of the New York Federal Reserve Bank, Charles Rist of the Bank of France, and Hjalmar Schacht of the Reichsbank, sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.
Carroll Quigley, Tragedy and Hope (Bill Clinton mentor, CFR historian)
Only a sap thinks there will ever be a debt jubilee. Debt is the weapon the banksters use to control politicians and every gov in the world. They won. They own the world.
The sooner you realize that the sooner you can join the rest of us in discussing how to protect what little we have.
There is not going to be any deflation. Deflation destroys the government as they owe 17 Trillion dollars and have to have inflation to service it.
The power is in government. The power will do everything to remain in power and deflation doesn't accomplish that. Inflation and money printing prolongs their reign of terror so that is what we will have. They will also use the chaos caused by the dollars destruction as an excuse to assume more power - to keep us safe.
The same people will accumulate wealth and power during inflation as in the proposed deflation scenario. However the US has a national memory of deflation. We will never see that again. Our money printers will print and print and print. That's is all they know how to do. (Well they know how to print money and come up with clever names for money printing such as QE, twist, etc).
They have already shown their cards. They are printing and they will print until the end.
One objection.
Eventually they won't even pretend it is to keep us safe. They will drop the pretense and it will be about keeping the children safe... from us. That's the way of socialism.
This is another excellent video... An absolute MUST Watch to comprehend the mechanics of Machiavellian Debt Money Tyranny...
Debunking Money
https://www.youtube.com/watch?v=7_yh4-Zi92Q
No sovereign nation would ever allow this privately controlled Trojan Horse within its borders.
Therefore, the government must not be sovereign.
The borrower truly is SERVANT to the lender.
LOL...how embarrassing. That's gotta be worse than shitting yourself on a blind date.
Every fucking day I trade pieces of paper from your precious "capital market" for real wealth.
You are so right! The only place in the world where people use salesmanship is the precious metals market! Why didn't I see this! I'm selling out of gold and buying stocks tomorrow.
The Euro is used by more people then the USD
The Eurozone has more gold then the US
The Euro is China's biggest trading partner
When the dollar is gone it will be awfully lonely with two vast oceans on either side.
The sun will rise up the next morning, just like it always has. =)
and nothing to eat but BT corn. (and soylent green)
If you have a decent .30 cal rifle, you will not run out of smoked hippie and hobo in your meat locker.
Stock up on ammo and valu-rite voka.
I'm all for it; no more consumer culture.
Better quality of life, and people will find more meaning to life, than, "buying shit," as Carlin said.
That is our meaning in life? Buying shit? The end can't come fast enough.
The Eurozone has more gold then the US
The central banks have an equal amount of gold as the UST. Does the population of Europe own more gold than Americans? I imagine per capita it is equal.The eurozones' gold is supposed to be stocked in the US. In reality it is already for years hanging around the necks of Indian women ...
I think the eurozone's gold is irrelevant, in this
the biggest thing about the eurozone is it's huge trade. nearly balanced trade. with the whole world
seen this way, the USD as-global-reserve-currency is a giant credit card, which allows the US to have (an) unbalanced trade (balance)
yet it's "powered" by foreign holders of USD, be them private or public hands. so it's a form of goodwill/credit
if you want, a form of affection, trust and belief in the capabilities of the US, it's people, economy and government to be able to provide deep, liquid and trustworthy capital, goods and services markets
this kind of feelings are like a huge rock or mountain. they don't crumble. they can only be eroded or regained, step by step, incrementally. if only just because those US capabilities too can't crumble, only be eroded or regained
The Euro isn't used by more people than the Dollar.As the reserve currency basically the entire world uses the Dollar.
The Euro Zone doesn't have more gold than the US. They claim title to more gold, but they don't HAVE the gold.
Euro Zone is China's biggest trade partner though, but so what?
What is the point of your "depth" if there dollar has no value...I can create a currency with all the market depth you wish simply by buying a good printer....
Who ever said there had to be a replacement?
correct. who needs a replacement? this goes all back to the belief in the Triffin Dilemma, i.e. that the world needs a giant unbacked/fiat global reserve currency
Learn to think like a sociopath banker and you will understand why there needs to be a single world currency. It's all about control. You can't have control with multiple independent currencies, especially ones backed by something tangible.
Perhaps don't follow Armstrong too much with his "depth of the $ markets". He is just a very shrewd smartass making a lot of money with his most aggressive communication.
The greatest shortcoming of the human race is our inability to understand the exponential function
what took ages to come at this point, is so accelerating that you dont have any idea of the velocity the thing can go mad.
Imagine a big water pipe that feeds a football stadium. The pipe is about to spring a leak that will get exponentially worse over time. Imagine that when the leak starts it will drip one drop of water the first minute, two drops the next, 4 drops the minute after, doubling each minute without limit. This is an example of exponential growth. Now imagine that you are chained into a seat at the very top of the water-tight stadium. The leak begins dripping exactly at noon. Here’s the question: How much time do you have to free yourself from the seat and leave the stadium before the water reaches your seat at the very top? Think about it for a moment. Is it hours, days, weeks, months? The answer: You have until exactly 12:49pm. It takes this exponentially growing water leak less than 50 minutes to fill a whole football stadium with water. That may seem impressive but the really important part of the lesson is that at 12:45 the leak has only filled 7% of the stadium. This leads you to think that you have hours and hours of time left before you are affected so you don’t work as hard on escaping as you should be doing. Unfortunately, the nature of exponential functions means that the stadium fills up only 4 short minutes later.by saying everytime not happen not happen not happen, guess what... it is happening, economy worldwide by itself is something, but real goods market & oil & etc + geopolitics due to theres goods affects the economy. USA is starting foolish mloves because loosing central position of reserve curency + dont have excpeted oil & gaz supply. you import near 100% of what you use. you depend of outside. all combined, not sure you will go up to hillary...
Yes, yes. Like the analogy of the turkey, who is so well fed and taken care of, right up to thanksgiving.
Or the boiling frog...
Maybe we need a boiling turkey..
It's about the speed. Most of the time it looks like nothing much is happening...and then WHAM. Game over.
Sorry I gave you the down
What depth is required for imaginary paper assets again ?
TPTB are only letting you play with THEIR money.Never forget that.
Well...just WWIII...
In tern ational law has no place on tactical trading charts. Save your ideas for the rest of your "pool'side" manipulating girlfriends COS<>PLAY!
I hope you're carrying around the instructions on how to get to the Balearic Islands.
....or, are you Bruce Jenner and trying to ditch your family on a deserted island while you fly off to Argentina. Brilliant plan mate...brilliant.
Unintentional comedy at its finest. =)
COSMOS
List canceled by:
1 Resentment from conspicuous consumption maxed out among locals, check.
2 Enemies created by hard assed, culturally insensitivity(just business), check.
Only when a Republican is elected President will it end. 2016 Hillary, 2020 Republican elected and the $ dominance and the entitlement party is over. All hell breaks loose. Hell, that's 6 years from now. So party on. Dow 35000
Dude it ends on everybody's watch, we have been in a decline for a while now, look at my post below at gasoline prices.
Doomsday prophets make me laugh.
i am not a prophet, but, one day, you will die.
everybody have its timeline expiration date doomsday.
have phun, bitchez.
The president has NOTHING to do with any of this. Period.
I disagree. They have an accelrator and worn out brakes pedals. They can't stop it but they can slow it down slightly or speed it up. Either way this semi-trailer is going to crash intot the wall at the end of the road.
Please step outside of the false dichotomy of red team versus blue team.
Anyone who still thinks that "If we just elect red/blue to the senate/house/presidency everything will be okay."
It's like you're playing Robert Shaw's role in a stage play of The Sting and you don't realize that you're the mark.
Romney was the man!!!! (cries like a pussy). (Blubbering) He'd of shown those ISIS punks what's what. (Embarassing public display of emotion) Jeb will mop the floor with.....
"Only when a Republican is elected President will it end. 2016 Hillary, 2020 Republican elected and the $ dominance and the entitlement party is over."
Like medicaid part D?
derp!
"Don't forget Poland."
temp is correct in a sense.
The Federal Reseve is on the side of a Totalitarian Gov't. Gov't for the rich bankers and Wall St...
While one may argue that Republicans of late have obliged these demands with the creation of DHS and some of the incredible shit in the NDAA, Repbulcians are supposed to be for samller gov't and balanced budgets..
Can we imagine a Repbulican running for the President on Austerity and balanced budgets now? lol
The Federal Reserve has fucked this country up for eternity. Destroyed it actually and if a Conservative did get elected the Fed would then raise rates and all hell would then break loose...
Anyway I know the comment is in jest but there's a lot of insight that can be drawn from your comment temp0.
There are two branches of the Republican party. Those who are just like the Dems and a few that are actually for Liberty. The latter will be smeared, destroyed and buried by the former two and their media propagandists.
They never had a chance.
Nice Comment T/D.
Mike "gold $20,000" Maloney...LOL
ZH has become a joke promoting these idiots.
You should really trot back on over to Lil Jimmy Glassmans Dow 36000 site or I'm sure Jeremy Siegel has a nice basket of stocks for sale. Everyone is a shill for something. I just read Zero for the comments I never look at the stories ;.
Diablow has been a gold troll forever around here. He sucks ass.
i have no doubt that maloney is right, and that gold will be at $20k per ounce, at least nominally, in the next 5 years (if not sooner) when the dollar comes crashing down from its lofty perch.
i was in belarus when their currency went into hyperinflation. it's not a pretty sight for the average person. argentina is doing it, too. it's unavoidable when govt spending is out of control and revenue can't keep up with debt payments. read adam fergusson's "when money dies"
joke? i think the joke will be on you, if you don't see the setup.
Belarus has been labouring under economic sanctions for some time.
So?
Stacking:
I am on board with your thinking and believe in physical gold for sure but the question is what games, if any, can be played with gold? If there is no gold in the USA wouldn't "they" devise a new system where gold either takes a serious haircut or something worse?
I know that comment has the risk of sounding impossible but with all of the rigging going on in the paper gold market and the fact that the Fed is probably 50 moves ahead of everybody else is there any danger at all to owning physical gold? I would love not a debate but your thinking and other's thinking on what possible scenarios there are for gold during the transition out of the dollar. I have heard a school of thought that if the Fed has no gold there is no way it is going to be worth much after the dollar collapses. But at the same time gold has large international appeal.
Maybe gold will be used as a part in the basket of currencies and be repriced.
I have a hard time thinking gold will be used as a backing of any reserve currency as the shackles it places. I still like gold though.
John 3:16
for now, gold price is set in nyc and london, but the west is running out of gold. remember the golden rule - he who has the gold, makes the rules! and the west is rapidly running out of gold and the opportunity to make the rules (set the price of gold).
in coming years, gold price will be set in places like singapore, hong kong, dubai.
there is no danger in owning gold - stop thinking in terms of dollars, think in terms of ounces. long term, over time (decades, centuries), gold has maintained its purchasing power, and i have no doubt that will continue. in fact, i expect some some substantial appreciation in gold in the next few years as it recovers from its currently beaten-down (manipulated) price - but to be frank, that is merely speculation on my part.
i don't like to speculate much on what might or might not happen, but gold is money, and has been for thousands of years. in the event that the financial system collapses, people will look around for what is left standing, what is untarnished, and what has been a reliable store of wealth.
Maloney makes one mistake - he attempts to time the market. He did a nice world tour promoting precious metals right after the 2008 crash. The "blip" that happened in the following years, according to him, never should have taken place. Love his theories, even though they're a bit metal heavy. Love listening to his lectures. Dislike the one-track mind and the level of confidence. There's always some uncertainty.
The Federal Reserve Note will be gone.
The US Dollar will be gone.
At one time there was a difference...
Y'know, RAH did "Friday" where things, including "monie" came unglued. - Ned
Yeah....6 years or less....
http://www.silverdoctors.com/jim-willie-collapse-has-occurred-hyperinflation-meets-asset-destruction/
I'm hoping that Lagarde's numerology pans out on july 20 2014.
https://www.youtube.com/watch?v=QYmViPTndxw
This video has been getting a lot of attention lately 120,000 views.
But seriously, we have WAAAYYYYYYYY less than 6 years.
Yep...I posted that link too on the podcast.
So Bizzare. So interesting. Only 13 more days till we "know"
FWIW there is something called the G20. You can look it up on Wikipedia (I had to).
If that was a message to the elite, and she's really been outed, can TPTB still go ahead with that date?
I was thinking the same thing. Wish I knew. only 13 more days...
It's rubbish to think the 'event' will happen on July 20 just because she mentioned 'G20'.
There is no secret message to decipher without any further knowledge. Whatever they plan to do, it will be done in the western part of the world (G7) or it will be done globally (G20). Lagarde did not know how Russia and China would behave. From todays point of view Russia and China wont be part of the 'event' - at least not directly.
However, I seems likeley that they planned to implement some serious measures in 2014.
My reading:
G7 --> war
G20 --> NWO
6 years?
I'd give it one year, tops.
Not because of some collapse, but because TPTB are obviously in a hurry.
They're piling the shit on, at the moment.
That "message" is strange, but I wouldn't discard it just because it is.
They require a CONTROLLED demolition to profit by it.
So it will be much sooner ,rather than later when chaos may reign.
"China has taken control of the Federal Reserve, taken control of One Chase Plaza. Either the Federal Reserve has been shut down or purchased. Its lease expired in 2013, amidst much speculation. No story ensued on the contract continuation or other disposition. The Jackass believes China took the Fed by default force."
Uh, Yeah... sure.
What would you expect a "founder of precious metals broker GoldSilver.com" to say?
Anything to scare the dumb money into metals where...surprise, surprise, he makes a killing.
Ahhhhh, shoot the messenger without debating the message. Gotcha.
No one starts with PMs and then forms notions about the Fed. You first learn about the Fed and then seek the refuge of PMs. I call troll on order66.
Are you even familiar with Peak Prosperity moron?
Fucking sky has been falling according to them for 30 years.
You clearly know nothing about Martenson either... 10 years ago the guy was a VP at a fortune 300 company. He gave up his career to bug out of the system and his focus is mainly peak oil, not PMs, he recommends PMs because he sees them as protection from whats coming when the era of cheap energy is over.
30 years, huh? So Chris Martenson started Peak Prosperity when he was 10?
Are you familiar with INFLATION you fucking idiot?
The sky HAS been falling for 30 years. You just don't notice it because it is happening over a longer period of time. The amount of buying power and jobs destruction over the last 30 years is staggering if you look at all the data. If all that happened in 30 days, or even 30 months the general public would be shitting themselves. Stretch that out over 30 years and you don't really feel what happening until it's too late to go and try to fix things.
Where I live, back in 1984 you could buy a perfectly livable house in an ok neighborhood for around 30k-40k. go back to those same neighborhoods now and those same houses cost around $140,000. we are talking small 1000 sq ft starter houses with a carport, no garage on a 1/3rd acre plot. nothing in those neighborhoods have changed. they didn't repave the streets and put in gold plated street lights and marble sidewalks. Exact same houses, most in the exact same condition they were back in 1984. This is not a measure of how much things have increased in value- it is a measure of how much less your hard earned money buys you now.
You are the frog in the pot, but you have no idea whats happening even though the water around you has started to bubble.. and that's the way they want it- if we actually noticed how bad things are we would actually try and do something about it. THAT is exactly what "they" don't want at any cost, which is why we see nothing but sugar coated bullshit on every channel on TV and just about everywhere else- the illusion must be maintained at all costs or they will lose control.
Mike Maloney has given away an incredible amount of free info to the public- see hidden secrets of money and his debt collapse video- he also sells the worlds best value in generic silver with the Pegasus.
Yes hes a salesmen, yes he runs a business selling PMs, but that doesn't make him a bad guy. If I could get a job working for him I would because getting the word out on PMs is crucial if were going to restore the republic. Mike has done an excellent job waking the masses for free and for that he shouldn't be painted a villain just because he's selling the stuff while preaching it.
If I had the capital to do the same I would...
Btw... He got into PMs in 2002 and has the receipts to prove it. It's not like he came charging into the market in 2011 to stiff people. Pretty sure he wrote his book in 2006...
Selling gold and silver is a very transparent business. Everybody knows Mikes wholesale costs and the spread is his overheads and profit. He is not trying to sell a mass produced in China at $10 a unit food chopping device for $200.
Well that really sucks for peak prosperity's business model because the only way to pay for a subscription to their website is in US dollars via AMEX, VISA, MASTERCARD, or PAYPAL.
So tired of predictions....
What food prices and inflation on other items especially gasoline, not good enough for you. I am paying four dollars and five cents for regular gas in Cali. Its not predictions dude, its REALITY. In 2005 gas was like One dollar and fifty cents. You have had almost 300 percent increase in say 10 years. That is 30 percent a year relative to 2005 prices !!!!!!!!!!!!
How is that prediction working out for you and your little kid you have to feed and drive to the nursery etc...
How about bread at $4 a loaf? Or sardines at $1.50 a tin when they were .99 back in '06?
I make my own bread now, cheap...
https://www.youtube.com/watch?v=SsXIl8KEfpk
https://www.youtube.com/user/artisanbreadwithstev?feature=watch
Very COOL, Great LINKS, thanks
Very easy to do too....and I'm no cook.
Get yourself a Danish dough wisk.
What percent sawdust do you add?
In Holland they add pig hair to the bread.
Green arrow..Doing it, sick of $4.oo bread, soon to be $6
You must have missed the 1970s....
Have you looked at the cost of Monkey Chow lately? Fuck man. Feeding the fam is just brutal.
My kids catch an electric train to school & it's free. Here, Fuel has only gone up 50% in ten years. We're not funding foreign bases and wars all over the planet either. Also, we export stuff that other countries actually want and need. The US dollar could regain it's throne or drop down the toilet. I care less. However, my point is that no one can predict when it's going to happen, only that it will. Apply for a passport dude, there's a whole other world out there....Peace.
Are you in Australia/NZ or Canada, Bob?
Reads like sarc to me (can't be referencing Aus/NZ Cosmos - would like a link if that's the claim).
passport ? to travel how ? feets walking ? no need fucking passport when all is fucked up, you wont have time to be passport asked.
focus on essentials bro.
Passport? Wait for this to go global... another nail in in the coffin. Sounds reasonable but THINK where this leads to.
http://www.southerneye.co.zw/2014/07/07/new-sa-regulations-child-travell...
“As from 1 October, we will not be able to check in all travellers who cannot produce the necessary documentation,” SAA spokesman Tlali Tlali said in a statement.
"The new regulations follow implementation of the SA Immigration Amendment Act of 2010, according to which children are defined as any one under the age of 18.
Children travelling with both parents have to produce an unabridged birth certificate with the names of both parents. A child travelling with only one parent has to supply either an affidavit from the second parent giving consent to travel, a court order indicating guardianship, or the death certificate of the second parent.
If a child is travelling with other people not their parents, they need to provide affidavits from their parents or guardians, copies of the parents’ or guardians’ identity documents or passports and their contact details.
Children travelling as unaccompanied minors need even more paperwork, including documents providing information about the person receiving the child."
December. There is a slow trot to the door now.
The numbers out of the EIA are truly amazing as energy production in Houston alone is up to 8 million barrels of oil a day.
Corn and wheat prices have collapsed. At some point "land bubble 2.0" will be right behind it. All the major averages hit one record high after another...in five years anything can happen but a dollar collapse is looking pretty far fetched right now.
I still think there are at least another dozen Detroits on the way. Rhode Island is in really bad shape and has been since the 90's. Illinois is by all accounts "worst in the nation" as well.
"Too Big to Fail" didn't include them apparently.
The dollar as we know it is ALWAYS gone within 6 years. The dollar as we knew it 6 years ago is history.
Think of all the wasted time and energy of all the millions and millions of businesses and investors who have to scheme and plan around the fact of a currency that crumbles like sand through your fingers instead of having a solid currency that allows a focus on productive ends.
"The numbers out of the EIA are truly amazing as energy production in Houston alone is up to 8 million barrels of oil a day."
Of course it takes the equivalent of 4 million barrels of oil and billions of gallons of water to get that. EROEI.
Dude..."that's just Houston." Prices are so high because profits are off the charts (just look at refining stocks this year) and "who cares what the dollar does." We all pay more because "the dollar is always collapsing"...but not necessarily the economy. Indeed...in certain select parts of the country the economy is booming. Corn prices have collapsed, wheat prices have collapsed. Steel, copper...at some point industrial production is going to surge...everything in the USA is so dirt cheap (including of us proles) it's really hard to see the dollar doing any worse than it already has for the last five years.
things always can be worst than they looks like
disabledvet… “Houston alone is up to 8 million barrels of oil a day.”
I think you meant the whole US: Crude and condensate [shale].
Anyway, Net-Exports will be the first one to go. Link below:
http://peakoilbarrel.com/eia-world-crude-condensate-production-update/comment-page-1/#comment-44255
By the way, outstanding comment last Wednesday linked here for the one’s that missed it.
By the way, agree with you about the US default will start here first. Then, overseas.
We're in the midst of an energy boom unlike anything the world has ever seen. "Yes, that's just for Houston" because they refine heavy oil from oil and canada. (Big refinery coming on line in Indiana soon too.). Plus we have huge natural gas processing plants in Ohio...and "wildcat refineries" in Colorado and Montana.
Don't even get me started on the electrical grid.
The big "playa" are Teslas. Once one of those is in the garage "there goes all the peaking units." In short "we have a huge energy glut" in the USA. Don't even get me started on water.
What we don't have is "growth." To do that you'll have to start selling premium products with value added. Again "Teslas."
Huge trade deficits destroy growth...but you're definitely importing lower prices "in the form of goods." Increase the minimum wage to say ...25 bucks an hour...then you'll see consumption turn. "Make exceptions for farm workers" of course.
you cannot growth anymore with such path.
you have to change way of humans live - or - kill 50% of the planet.
i bet on the self disrepair politcs & socials to let smoothly humanity decrease.
they cannot act brutal coz pple will riot. but when they let things go down, ppl will finith by riot anyway, their problem is they dont want to, so they try to do things slowly, smoothly.
humanity cannot be happy coz they get used to everything. that why we evolve technology, develop, more more better better. once people gezt used to poverty, they reduce another parts of the socials.
force people to eat less, etc...
long run process of decaying.
disabledvet...
I would love to be as optimist on oil as you are. Agree on wage inflation to try to spur some demand and able to pay previous debt. Would love have my salary going higher to help service my current debt. However, don’t see that happened. Many of my colleagues haven’t seen pay increase in years.
US gasoline consumption peaked in 2007 around 400 million gallons a day. Today, it is around 325 million gallons. My understand is that, most US refineries have plenty of ability to produce more gasoline but can’t get the oil.
Houston gasoline production probably is going higher, because they have “Port Free Tax” within their facilities. Means, export gasoline at higher prices, and tax-free.
Two of my favorite’s videos about oil are below. And these two guys are real. Make an effort to watch. Very telling.
The Future of Oil -- https://www.youtube.com/watch?v=KTsYjRqPmNA
Global Oil Market Forecast -- https://www.youtube.com/watch?v=dLCsMRr7hAg
"Increase the minimum wage to say ...25 bucks an hour...then you'll see consumption turn."
No kidding. For the twelve people who have jobs they'll have plenty of money. The robots that will replace humans don't spend much.
Hey disabled! When this shit storm fires up it's gonna make your depends look like mud pie pal. The ferocity with which these things go down is gonna make you see sideways, oh yea it's all gonna be ok, oh yea were all gonna consume skittles that the fukin wee lil shamrock shootin unicorn fiddlin leprechaun fuckers are depositing! Better get ready disabled and stockpile them depends cuz shit will get real at the drop of a hat!
As I've predicted before (for which I'll be proven 100% correct), the US dollar will be replaced as global reserve currency within the next one thousand years. See, predicting currency collapses isn't all that hard...
What global reserve currency? Another fiat but now backed by "faith and credit of the Chinese people or the European people"? If they're going to create another fiat for global currency...I beg the world population not accept it and go on public disobedience and burn it. We have to go back to real money (precious metals and barter) this time not debt again.
not fiat necessarily.
there's some speculation that china (and/or russia) is preparing to launch a gold-backed currency with the massive amounts of gold they've been accumulating.
What if there isn't another global currency? What if nations began settling their accounts with one another with their own currency or whatever, at an agreed-upon rate of exchange?
You know, the way it SHOULD BE!
And why is it that globalization only works for the big guys? Why can big pharma roam the world looking for the cheapest labor to make their drugs, but I have to pay US prices? Why can't I roam the world, seeking the best price for ME?
Fuck globalization.
Six years?
He must be an optimist.
"My guillotine's favorite cliche is, 'Two heads are better than one'."
Mine is, Three is not a crowd.
I never forget my friends. ;-)
I also agree with you.
Doogie Howser? MUCH?
This clown missed the entire "Harold and Kumar" series!
Bitchez
Talk about 2020 vision !!
Hey Mr. Maloney. Just because you have a stream running through your property now does not mean it will be flowing in a crisis. Unless you have a "spring" someone upstream can turn your water into a dry river bed. This thought came to me as Blondie and I were traveling through the desert together.
Tuco
Which is why the rich own the property at the top, so the shit rolls down as well as all the trash and pollution. Trust me the springs and all the good upstream property is spoken for.
Douche instigator.
Six years, riiiight.
Let's pray and hope for six years...more to time to prepare.
i give you 15 months
The shysters of the US will not sit quietly for that.
They will introduce the new US "trading dollar" backed by pm's, oil, and anything of value to stay in the game.
Won't be available to the general public.
Which foreign nations would actually believe the U.S. is holding the backing in reserve?
The dollar as we knew it was gone in 1933 when FDR took the US off of the domestic gold standard.
Your other avatar was better...just sayin', but I agree with you.
I've had more avatars than I can remember. The unicorn has been a crowd pleaser before. Hopefully you'll like my next one better.
I bet it shits skittles tho...
Yeah...and 8-15-71 when Nixon had us go full fiat.
https://www.youtube.com/watch?v=jX_60zzi6gI
Correction, the dollar as we knew it was gone in 1913 with the creation of the FED.
correction...
The dollar as we know it was destroyed in 1862 wwhen it ceased to be a gold coin or a wharehouse receipt from a particular bank, legally bound to honor the receipt with gold delivery.
Back a couple of years ago when Gold had gone over $1900 and Silver was pushing high $40's, I couldn't get enough of these kind of "metals experts", it was "Yeah Baby", keep it coming. Now, well, they have clients that need to be pacified and potential clients that need to be brought on board, so now, in my mind, when ever precious metal "predictions" are made, I can't help but feel that the statement has something to do with making money off of somebody.
Kinetics are temporarily off the books with CB interventions.
I'll take Silver @ 32.00 in 12 months on red. Bitchez
G/S slacks 20 sometings running to the doors before q-2 earnings
Hangover?
EA
look at what is left of 'fundamentals' before assuming that he is just working a scam. Nothing is right, nothing is normal anymore!
I didn't say he was working a scam, but I can't even go over to "King News" anymore for the same reason. And when comes to "fundamentals", are we talking economics or the psychology of psychopaths?
psychology of psychopaths
+1
Precious metals are insurance, not an investment. PMs protect you against both hyperdeflation and hyperinflation, rehypothication (if it's in your hand), and confiscation, if you happen to lose it all in a boating accident.....
Ha! Funny how so many stackers are also mariners...
One could also say that they sold it when gold went to nearly 2000...can't remember the name of that gold guy though...needed some quick cash at the time...
Right, it's really not so much the fact it is fiat that is the problem.
The problem is having private banks loan it into existence, at interest, to the government.
If the US government itself basically took back the issuing power from the frs and did not have to repay every dollar it spends - things would be instantly better. Not perfect and not all better - the debt and deficit spending and inflationary affects of fractional reserve checkbook $ creation are still problems...
But having private banks loan it as a debt with interest attached is the single biggest problem in the system.
I'd rather have GI fiat than gold backed FRNs.
How did that government money issueance work out for the French assignauts.
Issueing currency is the chosen tools of socialists to destroy the middle class.
one Big problem with GOLD
what he say in his videos is true,there are only one thing he forgot to tell us, the government can forbidding the Hoarding of gold coin, gold bullion, and gold certificates,and criminalized the possession of monetary gold by any individual, partnership, association or corporation. For more info take a look at "Executive Order 6102" http://en.wikipedia.org/wiki/Executive_Order_6102
There's far more where that came from, and even after Bretton Woods was implemented...
The only good Kennedy is a Dead Kennedy
Executive Order 11037
July 20, 1962
AMENDMENT OF SECTION 12 OF EXECUTIVE ORDER NO. 6260 OF AUGUST 28, 1933, AS AMENDED
By virtue of the authority vested in me by Section 5 (b) of the Act of October 6, 1917, as amended, 12 U.S.C. 95a, and in view of the continued existence of the national emergency proclaimed by Proclamation No. 2914 of December 16, 1950, I, John F. Kennedy, President of the United States of America, do hereby further amend Executive Order No. 6260, as amended, as follows:
1. Section 12 is amended to read as follows:
"12. Except under license issued therefor pursuant to the provisions of this order, no person subject to the jurisdiction of the United States shall, after the effective date of this section, acquire, hold in his possession, earmark, or retain any interest, legal or equitable, in any gold coin, gold certificates, or gold bullion, situated outside of the United States or any securities issued by any person holding, as a substantial part of his assets, gold as a store of value or as, or in lieu of, money and not for a specific and customary industrial, professional or artistic use. The Secretary of the Treasury, subject to such other regulations as he may prescribe, is authorized to issue licenses permitting the acquisition and holding by persons subject to the jurisdiction of the United States of gold bullion situated outside of the United States which the Secretary or such agency as he may designate is satisfied is required for legitimate and customary use in the industry, profession, or art in which such person is regularly engaged."
2. Notwithstanding the provisions of Section 1 of this Order, the Secretary of the Treasury is authorized to issue licenses permitting, until January 1, 1963, the holding and disposition or importation of gold coins having a recognized special value to collectors of rare and unusual coin situated outside of the United States which were acquired by persons subject to the jurisdiction of the United States prior to the effective date of this amendment and are owned by such persons on such date.
This amendment shall become effective upon filing for publication with the Office of the Federal Register.
They can forbid all they want...who will obey? Certainly not the gold-bugs. "Civilians" may give up their gold, but they'd have to go door-to-door to get the rest. They are NOT going to do that.
So, what if they make it illegal to trade gold? Well, look at the history of 'making things illegal'...what does that tell you?
The price, which at that point would be going higher, would skyrocket.
Make it illegal to trade gold? Yeah sure, whatever. If they make it as illegal as meth and heroin, I'm thinking it's no biggie...:-)