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Collapse of the Dollar On New Years?
12-01-2016, 07:56 AM
Post: #1
Here is Peter Schiff predicting the collapse of the dollar on Dec 31, 2016 with a mass failure of big banks.

He predicted the economic recession in 2008, and he's gotten a few other predictions right too.





Of course, as with all doomsday predictions, we will have to wait and see.
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12-01-2016, 08:28 AM (This post was last modified: 12-01-2016 08:34 AM by FarhnamDrunk.)
Post: #2
Im poor anyways. What the fuck do i care if it turns to crap? Bring on the chaos bitch!

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12-01-2016, 10:52 AM
Post: #3
Lol. This is one of those conspiracies that makes me wish some others were true.
Like if aliens are going to reveal themselves sometime soon, they better do it before some ish like this.
Have something like The Arrivals happen. I'm too ready.
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12-01-2016, 11:07 AM (This post was last modified: 12-01-2016 11:13 AM by The God-King.)
Post: #4
Won't happen. There are hundreds if not thousands of videos with similar titles. It's mainly for views. If he could predict down to the exact day when the dollar would collapse why hasn't he used such knowledge to his advantage? Anyone with even remedial investment or financial knowledge would know that many people can and do profit when a financial instrument (stock, commodity, currency, bond, ETF, etc) goes down. The dollar is a currency and therefore a financial instrument. It's called shorting. Shorting is when you believe an instrument will go down in value so you have your broker loan you the instrument, then if that instrument does indeed go down in value you wait until you believe it has hit it's "floor" (lowest price you think it will go before it turns around and jumps in value). Once the floor price is hit you sell it and the low price and then immediately buy it back and wait for it to go up. Once it goes up you can then determine it's "ceiling" (price you think it will stop at and go no higher) and at the point you sell it again and profit. Your profit is the difference between where you sold-and-then-bought it back and then sold it again at the high price.....minus your broker fees.

So......if he can predict when the dollar is going to lose value he should be profiting off that and a shit ton of other financial instruments rather than making YouTube videos.

You sold your soul to me, need I remind you?

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12-01-2016, 12:14 PM
Post: #5
(12-01-2016 11:07 AM)The God-King Wrote:  Won't happen. There are hundreds if not thousands of videos with similar titles. It's mainly for views. If he could predict down to the exact day when the dollar would collapse why hasn't he used such knowledge to his advantage? Anyone with even remedial investment or financial knowledge would know that many people can and do profit when a financial instrument (stock, commodity, currency, bond, ETF, etc) goes down. The dollar is a currency and therefore a financial instrument. It's called shorting. Shorting is when you believe an instrument will go down in value so you have your broker loan you the instrument, then if that instrument does indeed go down in value you wait until you believe it has hit it's "floor" (lowest price you think it will go before it turns around and jumps in value). Once the floor price is hit you sell it and the low price and then immediately buy it back and wait for it to go up. Once it goes up you can then determine it's "ceiling" (price you think it will stop at and go no higher) and at the point you sell it again and profit. Your profit is the difference between where you sold-and-then-bought it back and then sold it again at the high price.....minus your broker fees.

So......if he can predict when the dollar is going to lose value he should be profiting off that and a shit ton of other financial instruments rather than making YouTube videos.

Agreed.
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12-01-2016, 12:54 PM
Post: #6
Good point. There is too much at stake than for the dollar to just simply collapse. If people were really invested in the bullshit they talk about, they would be doing more important things other than making Youtube videos. People that make these videos have too much time on their hands. Makes you wonder where their funding for even the basic living expenses really comes from, not to mention any investment in their futures.

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12-01-2016, 01:03 PM
Post: #7
(12-01-2016 12:54 PM)TheDragonKing Wrote:  Good point. There is too much at stake than for the dollar to just simply collapse. If people were really invested in the bullshit they talk about, they would be doing more important things other than making Youtube videos. People that make these videos have too much time on their hands. Makes you wonder where their funding for even the basic living expenses really comes from, not to mention any investment in their futures.

Exactly. Videos like this are the modern day infomercials, just with a religious, political or economic twist. Shame so many people fall for it though.

You sold your soul to me, need I remind you?

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12-01-2016, 05:44 PM
Post: #8
Recent research from McKinsey Global indicates how the debt levels that led to the crash of 08, have in a very short time, returned and grown even further. Total global debt rose by $57 trillion from the end of 07 to Q2 of 2014. it reached to $199 trillion, or 286% of global GDP. One third of that comes from increased public sector borrowing in rich countries, as bailouts and tax cuts roll on.

Debt in developing countries rose, China debt since 07 has quadrupled, it's now around $28 trillion or 282% of GDP.

This means crashes are to come as debt keeps rising. For sure one can short, but that has devastating consequences on the market as investors run for the hills.

The new 'shadow banking' industry of securitisation and derivatives allows banks to loan without any deposits. This means speculators can lose faith in the banks getting the money back and that's what caused the crash of 08. No one was sure how much bad debt thier was, so no one would loan to anyone.

Its effectively gambling, especially when derivatives and futures are involved. Just because we can speculate, doesn't mean we have to profit from it.

Another problem is vendor finance from the East, the consumers are in the West, but they have to borrow to keep buying! If USA goes protectionist, vendor finance could stop, interbank loan could grind to a halt and then crash and burn.

Bubbles are here and ready to burst, in the Netherlands, Thailand, Australia and many other less rich countries

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12-01-2016, 06:09 PM
Post: #9
@Ontical,
I'm with you on this point.
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12-01-2016, 06:45 PM (This post was last modified: 12-01-2016 06:47 PM by Ontical.)
Post: #10
Just checked out Moody's website https://www.moodys.com/credit-ratings/In...ing-785900 lots of downgrading Baa3 and below. Rating Action: Moody's reviews OVEC for downgrade
Global Credit Research - 04 Nov 2016
Approximately $1.5 billion of debt outstanding

New York, November 04, 2016 -- Moody's Investors Service ("Moody's") today placed the ratings of the Ohio Valley Electric Corporation (OVEC) under review for downgrade. The action follows the downgrade of FirstEnergy Corp's (FirstEnergy) subsidiaries FirstEnergy Solutions Corp. (FES: Caa1 negative) and Allegheny Energy Supply Company, LLC (AES: B1 negative) which together are contractually obligated to cover about 8% of OVEC's expenditures.

Ratings agencies have considerable power over the outcome of markets.

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