Complete wipeout of all debt!?

M

menotcrimex

Member
Silver Stacker
He is either right or crazy! I have no idea? Good watch anyway I think. ( paste prob from phone )

http://sgtreport.com/2013/07/complete-wipeout-of-all-debt-coming-bix-weir/

The manipulation game is not going to go on much longer. Weir proclaims, "We're at a point in our system

manipulation where people within the Fed and within our government are ready to pull the plug on the game and basically crash the system." Weir goes on to say, "You're looking at a complete wipeout of all debt in all banks, all virtual assets, virtual assets meaning electronic blips on

checking

and

statement

401k

a

savings accounts." The reason, according to Weir, is simple. He says, "We are the biggest debtor nation in the world. If we collapse the debt now and erase all debt, we win." When could it all start to fall apart? Weir predicts "the

September time frame." Join Greg Hunter for this controversial interview with Bix Weir from RoadtoRoota.com.
 
Isn't Weir the guy who reckons the government has tonnes of gold stored in remote caves or military bases or something?
 
He has made many poor calls over the years so to put a 2 month timeframe on such a claim is pretty ballsy.

U.S. budget deficit will be $845 billion this year but $3tr will have to be borrowed to pay off old debt that is maturing.
Have wondered before if the US would simply just default on their debt and hope for the 'best'
tYTFmCS.png
 
It certainly wouldn't be the first time. The important aspect is that can only really benefit from doing so when their budget is roughly in surplus. If they are still running trillion dollar deficits then they can basically go the route of Argentina, Zimbabwe or the 3rd reich.
 
I haven't looked at the interview so just posting a general comment

Intentional or not, short term or long term, there is only one way out for the countries with huge debts
The debts need to be written off or inflated away
Both the US and Japan have passed the point where they have a hope of paying them off


If the powers that be refuse to write off or cut the debts somehow then market forces will do the job by devaluing the currency of the relevant countries
This has happened with every country that has gone too far with debt in history
Even the USA with a reserve currency cannot escape this fact of life
 
Franklin Sanders had this to say..

I don't want to spoil y'all's supper, but I really haven't been candid. I've been seeing the bond bubble Bernanke has built since 2008 and the sovereign debt crisis -- including the good ol' USA, where the admitted government debt without the hidden liabilities is 105% of gross domestic product. Because everyone who receives government money will fight like a banshee to keep it coming, and no politician will say no, short of a collapse or dictator, spending will never be cut, which means default is likewise inevitable because revenue falls so short of spending. Whether the default comes through an outright repudiation (the best but least likely solution) or it comes through a hyperinflation to inflate away the debt, default will come.

Either way, if you are in dollars, stocks, or bonds, your goose will be charbroiled. I dislike telling y'all this because I dislike disaster-mongers, but there it is. Sure, sure, everyone will tell you it's impossible the US would default, it's unthinkable the Fed would allow a hyperinflation, etc., etc. They cannot admit the truth because it implies such horrors, but the truth won't go away. Bernanke and the central banks of the world have already put the world onto that path.

So now it becomes a question, would you rather hold dollars/stocks/bonds facing default or hyperinflation, or gold and silver threatened by another decline --maybe?
 
I watched that video a few days ago, very interesting but...

If they wipe all the debt and start again, the only correct thing to do would then allow anyone one with outstanding debt of any kind, homes loans, student loans etc to be wiped too.
Would that mean people with large amounts of mortgage debt for example would do very well indeed?
 
In normal times I would go along with Trew in Post no. 9.

However these are not normal times!

What about placing a $17trillion bet in the derivatives casino om any of the commodities going either up or down..

Could this be done or am I taking too many tablets. ???

Regards Errol 43

My opinion is really that hyper-inflation will be the winner!
 
A fellow I worked with came up with the only real solution.......................we need to win an intergalactic tattslotto
 
errol43 said:
In normal times I would go along with Trew in Post no. 9.

However these are not normal times!

What about placing a $17trillion bet in the derivatives casino om any of the commodities going either up or down..

Could this be done or am I taking too many tablets. ???

Regards Errol 43

My opinion is really that hyper-inflation will be the winner!
Click to expand...

Yes my guess is hyper-inflation now I've had time to throw the bones :P
 
bordsilver said:
If they are still running trillion dollar deficits then they can basically go the route of Argentina, Zimbabwe or the 3rd reich.
Click to expand...

You probably meant Weimar Republic, as 3rd Reich did exactly what's suggested in the article: default & reset. That's why in 4 years they transformed from war destroyed country to outstanding power with incredible industrial output.
That's also why we are not allowed to talk about it.

Note: in no way, shape or form I am Nazi fanboy or condone their actions.
 
errol43 said:
What about placing a $17trillion bet in the derivatives casino om any of the commodities going either up or down..
Click to expand...

But who would be the counterparty to the bet and where would they come up with 17 trillion dollars from to pay the bet ?

The derivatives market is nothing but a bunch of contracts
The contracts are only worth what the counterparty is worth


I'd be happy to make a 100 million dollar bet with you - will only cost you a million dollars up front
If you win I'll give you 100 million dollars - well if I am still solvent - if you can find me :D
 
C.H. said:
bordsilver said:
If they are still running trillion dollar deficits then they can basically go the route of Argentina, Zimbabwe or the 3rd reich.
Click to expand...

You probably meant Weimar Republic, as 3rd Reich did exactly what's suggested in the article: default & reset. That's why in 4 years they transformed from war destroyed country to outstanding power with incredible industrial output.
That's also why we are not allowed to talk about it.

Note: in no way, shape or form I am Nazi fanboy or condone their actions.
Click to expand...

Interesting cartoon head. It's always tripped me out how Germany was able to build itself up like it did around the war.
 
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