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George Soros: NO END TO THE FINANCIAL CRISIS . . .

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
http://www.reuters.com/article/newsOne/idUSTRE51K0A920090221
Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.

Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union. . . .

"We witnessed the collapse of the financial system," Soros said at a Columbia University dinner. "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."

His comments echoed those made earlier at the same conference by Paul Volcker, a former Federal Reserve chairman who is now a top adviser to President Barack Obama. . . . "I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world," Volcker said.​
I've seen some charts on The Rachel Maddow Show on MSNBC which gave graphic illustration to part of this. Her show is informative for a lay audience. CNBC and Bloomberg is informative as well.

In my opinion the DJIA may drop below 7000 and may even as low as 4-t0-5000. This is just my opinion; it is not investment advice. I guess that for the first time in my life I seem to agree with Soros in that I think the worst is yet to come.

Buy and store FOOD, GUNS, AMMO. Invest in GOLD, GUNS, AMMO and FOOD. I think we are going to see inflation unlike any we have seen before, that said, I would buy and store things like food because it will cost less to buy cans of green beans and tuna today than in the future. I am NOT suggesting people buy and store MREs or dehydrated foods, etc. I'm simply saying if you eat DelMonte Green Beans and Green Giant Corn, buy it now & keep buying it. Buy what you eat. Store what you eat. Grow a garden, learn to 'can' your produce. As for GOLD, its one of those things to be wary of, it can go down in value, but probably is a safe haven for NOW and the NEAR FUTURE. Now my investing advice of stocking up on GUNS and AMMO, well thats just because I might want to trade with you in the future and would like to have someone to trade with that I can trust :smile:
 

Av8r3400

Gone Flyin'
I'm no Soros fan, but for the sake of truth and accuracy, can you back up these statements with verifiable evidence?


If that was possible, don't you think he would be in the prison cell he deserves? I said he's a criminal market manipulator, not stupid.

Do your own research. Follow the money. How much did he make the last time he produced a run on gold?
 

Cityboy

Banned
If that was possible, don't you think he would be in the prison cell he deserves? I said he's a criminal market manipulator, not stupid.

Do your own research. Follow the money. How much did he make the last time he produced a run on gold?

Evidence?
 

BoneheadNW

New member
If that was possible, don't you think he would be in the prison cell he deserves? I said he's a criminal market manipulator, not stupid.

Do your own research. Follow the money. How much did he make the last time he produced a run on gold?
Correct me if I'm wrong, but every time one of those so called "financial experts" is quoted as saying "this is going up" or "this is going down" it generally ends up happening. It is a self fulfilled prophecy. That too would be considered manipulation.
Bone
 

Cityboy

Banned
Correct me if I'm wrong, but every time one of those so called "financial experts" is quoted as saying "this is going up" or "this is going down" it generally ends up happening. It is a self fulfilled prophecy. That too would be considered manipulation.
Bone

Most "financial experts" are only guessing, and statistics show that most are wrong. Many of those "experts" missed this current situation even though all the signs were there for anyone willing to face the truth. These "experts" often work for brokerage firms and banks and are attempting to generate business for their firms and commissions for themselves. The "sheeple" frequently listen, and follow the lead buffalo right over the cliff.

Here's an interesting article on "expert advice":

http://money.cnn.com/2009/02/17/pf/experts_Tetlock.moneymag/index.htm

On edit:

BTW, this article above was written by the editors of Money magazine....some of those "experts" who reccommend "experts" more often than they reccommend doing your own research, thinking and using common sense....perhaps because using common sense might lead you elswhere besides one of their advertising brokerages.
 

Big Dog

Large Member
Staff member
GOLD Site Supporter
Watch this:

[ame="http://www.youtube.com/watch?v=O_TjBNjc9Bo"]YouTube - I.O.U.S.A.: Byte-Sized - The 30 Minute Version[/ame]
 

Cityboy

Banned

Good find, BD....and some sobering facts.

And one of those facts is that we have been heading in this direction for a loooooooong time, but people just don't seem to care nor do they want to take the time to learn about it. I'd even go so far as to bet no more than 10% of the membership here at FF even watch past the first 5 minutes of the video.

I don't expect the American sheeple to wake up until it's too late, long after they realize they (we) are the ones who have to begin changing one by one ASAP, and not to rely on politicians concerned primarily with maintaining their government salaries and presteige.
 

Av8r3400

Gone Flyin'
I'm sure this will mean nothing to you Cityboy, and it will be my last post on the topic.

Soros; Again; and Again; and Again.

I will say again, I consider what he has done to world financial markets over the years to be criminal.

You can now dismiss these articles out of hand, jump back on your soap box an bloviate to you heart's content. I don't care, because I won't be here.
 

Cityboy

Banned
I'm sure this will mean nothing to you Cityboy, and it will be my last post on the topic.

Soros; Again; and Again; and Again.

I will say again, I consider what he has done to world financial markets over the years to be criminal.

You can now dismiss these articles out of hand, jump back on your soap box an bloviate to you heart's content. I don't care, because I won't be here.

That's much better. At least you have something to attemt to back up your statement.

So....Why won't you be here? Just because you get challenged is no reason to run away.

Anyway, I'll look at your articles, now that I have something to look at. But in the mean time, perhaps you can explain in a summary how George Soros single handledly manipulated us into this world financial crisis for his own benefit.

We've been in debt as a nation since the Civil War, and not once since then have we been debt free. Picking out one man to blame for our own national indiscriminant spending defies all logic.

I'm not picking on you, but I am looking for answers myself, and making blanket statements is not an answer. Our problem right now is so huge that people's eyes glaze over when they attempt to understand it. It's easy to blame a third party while we watch sports on our new LCD Hi-Def televisions..............
 

daedong

New member
Good clip CB

Compulsory savings in the form of superannuation, invested privately, this would be a good start. This not only addresses the savings problem but also stimulated US businesses.
 

Bobcat

Je Suis Charlie Hebdo
GOLD Site Supporter
Of course you know it's their version of a retirement or pension plan. But over there it's compulsory and everyone gets the same amount, no matter how hard you did or didn't work during your working years.
 

daedong

New member
Of course you know it's their version of a retirement or pension plan. But over there it's compulsory and everyone gets the same amount, no matter how hard you did or didn't work during your working years.

Bob you really should not make comment when clearly you do not have a clue. not just this post but others as well.

In a nut shell

All employers must pay an additional 9% of normal pay, no exceptions, into your nominated fund. The government have no hands on this money the government have strict rules on when you are allowed to cash that money, generally I think it is aged 55 yrs. These funds are nothing to do with government unless you are a government employee.

Fund meaning,

1
Not for profit organizations that invest on your behalf how you choose.

2
Profit organizations, public investment managers

3
Or if you wish you can manage your own investments but there are rules.

Now back to you Bob, So if you earn 100,000 a year you would certainly have much more to retire on than someone that only earns 30,000 a year.

Bob you really should stop trying to slag nations outside of your own particularly when you have no idea. America and its people are generally great folks, but you display an arrogant attitude at times.
 

Bobcat

Je Suis Charlie Hebdo
GOLD Site Supporter
Bob you really should not make comment when clearly you do not have a clue. not just this post but others as well.

In a nut shell

All employers must pay an additional 9% of normal pay, no exceptions, into your nominated fund. The government have no hands on this money the government have strict rules on when you are allowed to cash that money, generally I think it is aged 55 yrs. These funds are nothing to do with government unless you are a government employee.

Fund meaning,

1
Not for profit organizations that invest on your behalf how you choose.

2
Profit organizations, public investment managers

3
Or if you wish you can manage your own investments but there are rules.

Now back to you Bob, So if you earn 100,000 a year you would certainly have much more to retire on than someone that only earns 30,000 a year.

Bob you really should stop trying to slag nations outside of your own particularly when you have no idea. America and its people are generally great folks, but you display an arrogant attitude at times.

Woohoo! I do believe I've irritated daedong!! :clap:

If I don't post a comment because I don't have a clue, how will I get a clue? If I get a clue elsewhere, why come here? And it was the Queen comment in the 'elsewhere' thread that got you, wasn't it? :rolf2:

As far as having a clue, I did read the wiki article on the AusUK pension plan some time ago, so I may have had a small clue. Now concerning the 'everyone gets the same amount' comment, I heard that from an Aussie. Guess it wasn't you. While the wiki article didn't confirm it, I knew it would at least get a rise from you. Success. And don't say you haven't laid traps for me before, you shyster. :poke:

Your comment about the govt not having their hands on your pension money, but deciding when you can have it? Sounds a bit oxymoronic, don't you think? I do agree that govt mandated, privately managed is better than govt mandated, govt managed. Hmmmm, who has a system like that? :rolleyes: By the way, you say everyone pays 9%. Weren't higher wage earners required to pay more like 15% for a time?

Sorry you see me as one of the few arrogant Americans. Some here consider you arrogant, but I know you are not...quite. Many considered your 'anti-US' comments as slagging. I don't intend on slagging other countries, but liberal socialism is on the march. It is overwhelming the UK countries (UK, AusUK, NewZUK, CanUK) and I hope we can stop it from spreading further here. To that end, I will point it out wherever I see it, here and abroad.
 

XeVfTEUtaAqJHTqq

Master of Distraction
Staff member
SUPER Site Supporter
All employers must pay an additional 9% of normal pay, no exceptions, into your nominated fund. The government have no hands on this money the government have strict rules on when you are allowed to cash that money, generally I think it is aged 55 yrs. These funds are nothing to do with government unless you are a government employee.

But is there a limit to how much you can save each year?
 
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