Unfortunately, all your money will be used by banks to create 10x as much money as you spent on gold or silver. You will be insulating yourself against the inflation you caused though.
Money is debt; so what happens when my rebate check goes towards credit cards?? :)
- Thread starter Nanerbeet
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Unfortunately, all your money will be used by banks to create 10x as much money as you spent on gold or silver. You will be insulating yourself against the inflation you caused though.
There's a logic behind it. Mechanically, this stimulus package will do what it intends: get people to spend more. Exhaustive data exists that say the lower you are in income, the more likely you are to spend money when it just "drops into your lap," like these rebate checks effectively are. Giving you money would not be as effective because you would be more likely to save it, though you would still be responsible for creating more money as I've explained in my previous posts. The problem though, is that it's a band-aid which actually makes our long term financial outlook even worse. We, through the US government, will have to pay back the cost of this package with interest, or our children will, but who really cares about their economic situation? We're giving them a lovely Social Security problem to deal with, what's the cost of an extra economic stimulus package or 2?
+1000000
puppetmaster
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all smoke and mirrors
besides this was your money in the first place. It has been taxed and when you get it returned it will be taxed again as income for this year....enjoy!
such caring folks in Washington....
besides this was your money in the first place. It has been taxed and when you get it returned it will be taxed again as income for this year....enjoy!
such caring folks in Washington....
If you understand the fault with the idea of creating money that is backed by nothing then you should purchase something immediately not stash it in savings.
Why? because the inflation will cause your money in savings to reduce in value.
Things like Land and Gold will appreciate. So buy quick before it devalues.
Why? because the inflation will cause your money in savings to reduce in value.
Things like Land and Gold will appreciate. So buy quick before it devalues.
Todd
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+2
Savings! Anything else is absolutely irresponsible. (ok...I saw above...paying your debt is a good idea too) This country does not promote savings enough. Gosh if everyone had a healthy savings account...alot more good hearted people would feel secure enough for charity to thrive...which is healthy...the people taking care of people in need. Not the government. Sheesh!
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ionlyknowy
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you guys forget the way money works.
Even if you pay off a couple debts you owe, yes the banks get their money initially, but YOU are saving the interest you would have paid on this debt.
Plus, it frees up money that you would have paid to this debt, so now you will be able to spend it on something else.
Example: you are poor and live paycheck to paycheck. You have $500 in you bank account. You owe $1600 in credit card debt incurring 15% interest every year. You and your wife get the $800x2=$1600 from the stimulus package. You immediately pay your credit card off.
You would have paid all of your bank account to the credit card but now you dont have to, so you have $500 extra laying around. The next two months where you would have paid this $500 you dont have to .... Plus it saves you interest.
So really, if you pay a high interest debt with your "stimulus package" you will actually realize a greater return than the $800 that is actually doled out.
Even if you pay off a couple debts you owe, yes the banks get their money initially, but YOU are saving the interest you would have paid on this debt.
Plus, it frees up money that you would have paid to this debt, so now you will be able to spend it on something else.
Example: you are poor and live paycheck to paycheck. You have $500 in you bank account. You owe $1600 in credit card debt incurring 15% interest every year. You and your wife get the $800x2=$1600 from the stimulus package. You immediately pay your credit card off.
You would have paid all of your bank account to the credit card but now you dont have to, so you have $500 extra laying around. The next two months where you would have paid this $500 you dont have to .... Plus it saves you interest.
So really, if you pay a high interest debt with your "stimulus package" you will actually realize a greater return than the $800 that is actually doled out.
fluoridatedbrainsoup
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I will buy my first gun (a cheap, reliable 12 gauge) , some gold (~1/2 oz) / or 1 oz palladium (this is the metal which provides cold fusion - - in late eighties this technique was proven and the man who proved it was brutally murdered, coincidentally . . . bags of white rice (last a long time) , canned food (mm corned beef hash) , and either a Berkey or a reverse osmosis unit to remove the brain-eating fluoride medication from my water.
This stimulus BS will be good for me because I have 0.76 cents in my bank account - - the rest has already been "preserved" through gold and silver coin. I bought in at ~ Au 780, Ag 13.50 , just a few short months ago - - and continue to view this as smart smart SMART. There is no better way to preserve wealth (that I know of) than via finite precious metals.
Ron Paul woke me up to all of this. I feel I am part of a large and growing group of youth that RP has slapped into awareness of the huge impending economic disaster that the talking heads are merely softening and tenderizing so that they can later insert it right up our collective ass when we are comfortable and .. OK with it.
This stimulus BS will be good for me because I have 0.76 cents in my bank account - - the rest has already been "preserved" through gold and silver coin. I bought in at ~ Au 780, Ag 13.50 , just a few short months ago - - and continue to view this as smart smart SMART. There is no better way to preserve wealth (that I know of) than via finite precious metals.
Ron Paul woke me up to all of this. I feel I am part of a large and growing group of youth that RP has slapped into awareness of the huge impending economic disaster that the talking heads are merely softening and tenderizing so that they can later insert it right up our collective ass when we are comfortable and .. OK with it.
Revolution9
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It provides black ops money for more false flag terrorism. Recent changes in the world banking system have made it impossible to park funds offshore. This hurts their gambit mightily as the chain of currency must be established. Drug money is moved like commodities, on pallettes and by sea and air instead of through traceable banking channels.
Best Regards
Randy
Revolution9
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Unfortunately, all your money will be used by banks to create 10x as much money as you spent on gold or silver. You will be insulating yourself against the inflation you caused though.
Banks cannot create money in the manner you speak. They can issue truckloads of bills of credit though. This has nothing to do with the gold and silver, which is money and is not created, but through sweat and toil at some point taken from the native element and refined into tangible asset based money..
HTH
Randy.
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