Forum Post: Almost the truth
Posted 11 years ago on Aug. 25, 2012, 8:24 p.m. EST by richardkentgates
(3269)
This content is user submitted and not an official statement
So, before you read this article, keep in mind that the difference between the Great Depression deflation and deflation in these times, is that bank accounts are mostly FDIC insured in today's banks. The working class will not lose their life savings this time. And housing is already in deflation so it can't fall much further.
http://www.marketoracle.co.uk/Article36200.html
Japan has been experiencing deflation issues for 15 years. Deflation is not the equivalent of a depression, that is how investors and Wall Street sell it because it means they lose money, but that doesn't mean the entire economy does. It's another scare tactic.
http://online.wsj.com/article/SB10000872396390444375104577594592726208550.html
The FED needs to begin allowing for controlled deflation. If they do not, we will see hyperinflation. The clock is ticking.
Economic policy needs to be stripped from the FED
Interest on printed money needs to end.
Obama is against everything that has been discussed in the article with Doug Casey
As stated in the article another dump of billions of printed money by the Feds into the market won't do a damm thing for the economy.
Romney has it right when he says to control what the Fed does and get people to work and the economy growing by stimulating small business growth.
To the best of my knowledge the FDIC only maintains a minimum reserve with the ability to draw an additional half trillion in loans; it's total exposure is eight or nine times that. Additionally, although the FDIC is backed with the "full faith and credit" of the Federal gov, no legislation has ever been enacted to serve as the statutory mechanism; in other words, the "guarantee" does not exist.
If the banks fail Americans will lose all of their deposits.