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progree

(11,505 posts)
6. Most real economists think the coming 2016 depression will last no more than 15 or 20 years at most
Mon Sep 22, 2014, 03:08 PM
Sep 2014


Actually -- after listening to about 8 minutes of it, let's see, the national debt is huge, the Treasury has been creating trillions in new money ... I finally gave up -- I don't have 47 minutes to watch whacka-doodles sell me books or gold or whatever the pitch is about.

I suspect though from various indications that it's coming to Porter Stansberry's argument that FATCA ( Foreign Account Tax Compliance Act ) or something like that -- where foreign banks are supposed to begin some sort of onerous, difficult, and time-consuming (for the banks) reporting on American citizens or something like that -- is going to increase the momentum of a shift away from the U.S. dollar as the world's main currency for trade and ultimately its status as the world's only reserve currency... and this will mean we can't just print money anymore to finance our debts and all that and so on...

Who knows. This kind of stuff has been out there in one form or another for innumerable decades.

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