Kotlikoff: U.S. real debt stands at over $222 TRILLION

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Col. Flagg
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Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby Col. Flagg » Thu Jan 17, 2013 12:17 pm

http://usawatchdog.com/bernanke-playing ... kotlikoff/" onclick="window.open(this.href);return false;
Boston University Economics Professor Laurence Kotlikoff is worried about America’s dire financial situation. Dr. Kotlikoff says, “The situation is getting worse and worse and worse. We are running a massive six decade Ponzi scheme, and it’s coming to a real threatening point.” Dr.Kotlikoff calculates the real government deficit is enormous and it’s growing exponentially. “It’s $222 trillion. Last year it was $211 trillion. We grew the deficit by $11 trillion in one year,” charges Dr. Kotlikoff. He also says, “We are actually in worse shape than any developed country. . . We are using accounting that would make Bernie Madoff blush.” Kotlikoff thinks the Federal Reserve could easily lose complete control of inflation and warns, “Ben Bernanke is playing with fire here because we could have a tripling of the price level.”
Of course, $222 trillion is nothing compared to $1.5 QUADRILLION in derivative contracts outstanding. :ymapplause:
"Truth is in history, but history is not the truth." - Nicolás Gómez Dávila

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Tribunal
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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby Tribunal » Thu Jan 17, 2013 12:39 pm

So what exactly does this mean? What does it mean to me and my family if the deficit it $222 trillion? What does it mean to me and my family if there are $1.5 quadrillion in derivative contracts? Seriously?

Will any of this cause me to lose my testimony, my life, my family, my property, my garden, my orchard, my food supply, or my job? Will I still be able to go to church?

What is the worst that could happen if these things burst or collapsed? No more crazy monetary system? No more evil tyrannical government?

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Col. Flagg
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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby Col. Flagg » Thu Jan 17, 2013 2:04 pm

Tribunal wrote:So what exactly does this mean? What does it mean to me and my family if the deficit it $222 trillion? What does it mean to me and my family if there are $1.5 quadrillion in derivative contracts? Seriously?

Will any of this cause me to lose my testimony, my life, my family, my property, my garden, my orchard, my food supply, or my job? Will I still be able to go to church?

What is the worst that could happen if these things burst or collapsed? No more crazy monetary system? No more evil tyrannical government?
You have to ask that? Seriously?? OK, let's put it this way... what do you think would happen to your purchasing power if the dollar were to lose its reserve currency status tomorrow because of endless money printing by the private 'Fed' and our extreme indebtedness and inability to pay back those debts? You better believe something like that will affect every aspect of your life! What does it mean to me? Really??? :ymblushing: If you value your hard-earned money, home, property, ability to take care of your family, etc., then it means a helluva lot to you. :ymblushing: And don't think for a second that when all of this comes crashing down, the evil it was entrenched in will disappear and it will be back to propsperous living because that's the last thing that will happen - the collapse that is coming will make 1929 look like a Sunday school picnic! If you're invested in the stock market, get out, except for precious metals and commodities and prepare for the destruction of your purchasing power.
Last edited by Col. Flagg on Thu Jan 17, 2013 2:12 pm, edited 2 times in total.
"Truth is in history, but history is not the truth." - Nicolás Gómez Dávila

Seek the Truth
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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby Seek the Truth » Thu Jan 17, 2013 2:11 pm

It's all coming down. The debt represents a plundering of national resources and a huge percentage of the population cannot even survive without a solvent Federal Government. There will massive impoverishment and collapse, and if you can't grow and store your own food you will probably die. Everything else is trivia.

CF, the derivatives thing is a big misunderstanding. Nothing wrong with derivatives.
The ancient prophets declared in the last days the God of Heaven should set up a kingdom which should never be destroyed, nor left to other people.

Joseph Smith HC, v6 pg 364-365

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Col. Flagg
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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby Col. Flagg » Thu Jan 17, 2013 2:18 pm

Seek the Truth wrote:CF, the derivatives thing is a big misunderstanding. Nothing wrong with derivatives.
http://www.fintools.com/docs/Warren%20B ... atives.pdf" onclick="window.open(this.href);return false;

Warren Buffet: "I view derivatives as time bombs. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal".

Seek, derivatives were the cause of the 2008 financial meltdown. Saying there is nothing wrong with them is like saying nothing bad will happen if the Titanic hits an iceberg.
"Truth is in history, but history is not the truth." - Nicolás Gómez Dávila

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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby moving2zion » Thu Jan 17, 2013 2:27 pm

The so what factor is you better have land, good storage capabilities and be well stocked with those items that you see your family, friends, and neighbors will need in the years ahead.
A little gold and silver on hand for bartering, maybe some 22 wampum. Lots of good books on gardening will come in handy as well.
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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby Seek the Truth » Thu Jan 17, 2013 2:39 pm

Col. Flagg wrote:
Seek the Truth wrote:CF, the derivatives thing is a big misunderstanding. Nothing wrong with derivatives.
http://www.fintools.com/docs/Warren%20B ... atives.pdf" onclick="window.open(this.href);return false;

Warren Buffet: "I view derivatives as time bombs. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal".

Seek, derivatives were the cause of the 2008 financial meltdown. Saying there is nothing wrong with them is like saying nothing bad will happen if the Titanic hits an iceberg.
Warren Buffet is not a derivatives trader and knows little about them and is probably an LDG.

I have been a derivatives trader for 20 years and am a world leading expert.

Derivatives can only be used as leverage and hedging (insurance) and of course are only one way to lever or hedge. Leverage and hedging can be represented numerically independent of the instrument involved and like anything both leverage and hedging carry risks, regardless of the instrument.

The 2008 collapse was because of the subprime mortgage collapse. Credit default swaps are merely a hedge or insurance position against the default of mortgages. Like all insurance, if the claims outweigh the balance sheet of the insurer the insurer will collapse. In this case the CDS were inadequate to the collapse. Arguably if we had MORE derivatives the blow would have been cushioned.

By analogy, if the Yellowstone super volcano erupted and destroyed California, you would blame the economic destruction on insurance companies who didn't adequately insure.

No derivative market failed at all except the ones tied to subprime markets. Repackaging of debt occurs across all debt markets and derivatives are in almost every capital market there is. No debt repackaging market or derivatives market failed except those tied to subprime mortgages.

It was all about subprime.

You've been dramatically misled.
The ancient prophets declared in the last days the God of Heaven should set up a kingdom which should never be destroyed, nor left to other people.

Joseph Smith HC, v6 pg 364-365

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Tribunal
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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby Tribunal » Thu Jan 17, 2013 2:42 pm

Col. Flagg wrote:You have to ask that? Seriously?? OK, let's put it this way... what do you think would happen to your purchasing power if the dollar were to lose its reserve currency status tomorrow because of endless money printing by the private 'Fed' and our extreme indebtedness and inability to pay back those debts? You better believe something like that will affect every aspect of your life! What does it mean to me? Really??? :ymblushing: If you value your hard-earned money, home, property, ability to take care of your family, etc., then it means a helluva lot to you. :ymblushing: And don't think for a second that when all of this comes crashing down, the evil it was entrenched in will disappear and it will be back to propsperous living because that's the last thing that will happen - the collapse that is coming will make 1929 look like a Sunday school picnic! If you're invested in the stock market, get out, except for precious metals and commodities and prepare for the destruction of your purchasing power.
Colonel! Yikes! I know what will happen to all those things. I was hoping someone would bring the issue down to the level of the average person. Many hear about the debt bubble but don't understand how it will affect them.

Colonel! Please take a breath.

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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby Seek the Truth » Thu Jan 17, 2013 5:56 pm

The problem tribunal is predicting the particulars is going to be impossible, sort of like predicting the debris field for a plane crash.

From what we've been told, get out of debt, grow a garden, store food, prepare every needful thing. I have found Joel Skousen to be particularly impressive.
The ancient prophets declared in the last days the God of Heaven should set up a kingdom which should never be destroyed, nor left to other people.

Joseph Smith HC, v6 pg 364-365

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Tribunal
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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby Tribunal » Thu Jan 17, 2013 7:19 pm

Seek the Truth wrote:The problem tribunal is predicting the particulars is going to be impossible, sort of like predicting the debris field for a plane crash.

From what we've been told, get out of debt, grow a garden, store food, prepare every needful thing. I have found Joel Skousen to be particularly impressive.
Yeah! When the bubbles burst it is going to be painful - no doubt about it. I believe even the most prepared should feel some of the pain, as I don't think everyone will be able to escape this. I also believe the bubble's bursting will have a cascade affect, leading to other collapses. Problem is how bad can it get before it all comes crumbling down?

What I wonder is if I have no debt, am prepared (with God, my guns, and my food), and have the property and resources to endure an economic collapse, how much pain will I really experience?

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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby dauser » Thu Jan 17, 2013 8:59 pm

The zio federal reserve is buying up something like 40 billion in mortgage backed securities a month and they call it quantitive easing.

The will end up owning all the mortgaged properties because... they have a printing press.

In the telestial world the bank (not the temple) is the center of the community. It is the anti-temple.

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Re: Kotlikoff: U.S. real debt stands at over $222 TRILLION

Postby francisco.colaco » Tue Jan 22, 2013 6:44 am

Col. Flagg,

That number is highly doubtful. Even at a rate of 1%, it would drain 2.2 tl annually from the economy. It is highly improbable that such sum of money would pass unnoticed, since it is something like 14% of the US economy.


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