All Ponzi schemes come to an end. It looks like the Chinese backed currency will be part of the special drawing rights as of October first. It the Arabs want their oil priced in Renmembis, we are toast.
It looks like the insiders are buying gold. That must tell us something.
But, I don't have much left after my problem with the IRS. So, I am not buying gold. Remember, the US confiscated everyone's gold in the past. They will do it again.
The governments of the world can produce all the paper money they want, but they cannot print jars of peanut butter. I am trusting with groceries. I want to have enough on hand to out last a bank holiday. Germany's Merkel just told the German people that they should have about fifteen days of supplies on hand in their homes.
I fear the day that the government cannot or will not fund those EBT cards. In June, there was a problem with their programming. It just about produced a war. Those people will not be denied.
While the price of imported items will sky rocket, I think US produced products will be affordable.
On the upside, I live in Arizona, and the country side is littered with gold mines that were shut down by the US government at the start of WWII. Those mines may re open. Also, our petroleum industry may be resurrected.
We can only hope and pray.
Only S & P (Standard and Poors) one of three rating agencies lowered their rating. Of course they also were giving AAA ratings to mortgage backed securities that defaulted like mad in the Great Recession of 2007-2008. Here is part of their reasoning for downgrading US debt.
"The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.
R.W., if you would like some humor in your economics please read this article concerning the greatest economist ever.
http://cepr.net/blogs/beat-the-press/world-s-greatest-economic-expert-no-one-appears-in-robert-samuelson-column?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+beat_the_press+%28Beat+the+Press%29
"It just about produced a war. Those people will not be denied." You mean Walmart workers right?
http://blogs.wsj.com/economics/2015/04/13/get-a-job-most-welfare-recipients-already-have-one/
My wife used to work at Wally World. It was horrible. Management was terrible, customers were worse. Some people think they have a God given right to steal, and they sure do it.
When her boss noticed that she was paying for her groceries with cash, he said "Don't you want the government to pay for your food?" Her answer was "No, I pay my own bills."
Again, I fear the day those people cannot use their EBT cards.
By the way, I see they are laying off about seven thousand employees.
If the Arabs want their oil paid for in the new Chinese currency, we are toast. All of those dollars held abroad will come home. Inflation is a terrible way for a government to escape its debt.
As I recall, Mexico had three devaluations in 1982 alone. See the chart below:
Peso–US dollar exchange 1970–2016
Since 1910 to this day, the Mexican peso has devalued 7,500%
Note: During Calderón's government, the peso reached an exchange rate of $15.10. Source: Devaluación del peso mexicano (Spanish)
People in Mexico that had loans from north of the border had to service and pay off those loans in US dollars. People lived on beans and rice for a long time.
I see Intel is cutting 12,000 positions. If each of those employees gets three part time jobs to make ends meet, that would mean the government created another 24,000 jobs. Still, the employee is barely making it.
The good news is that we found you a job; the bad news is that it is in a rice paddy in Thailand.
Everything you say is true, Gary. But the problem rests in the fact that a politician has 2 goals: 1) get elected 2) stay elected. They cannot do either without special interest money, so they must do the bidding of their masters. That, plus they get addicted to rubbing shoulders on the Washington cocktail circuit. We no longer have a dual Party system, but rather are ruled by what I call The Establishment Party which is made up of RINOs and DINOs. Throw in the popular media (owned by only a few powerful Establishment individuals) and we have the perfect storm. No wonder the interests of common, patriotic, hardworking, taxpaying Americans are sold short. We only have 1 candidate that cannot be bought by special interests because he has as much or more money than any of them! So ....will we end up with the Establishment Party ruling once again, or will ordinary citizens finally have a voice? We shall soon find out.
Gary,
You are absolutely right about how important the November election is. TRUMP all the way for me! As far as SandRidge, I have a lease with them and have gotten periodic legal updates on the Bankruptcy proceedings but have never received any royalty payments...only a small sign on bonus check last Oct. 2015. They refuse to reply to me about how much and when they will pay me my royalties. I refuse to pay an attorney for this as I filled out and returned to their lawyers a form stating what I felt they owe me in back royalties, per mine and my accountants calculations, to have for their Bankruptcy claims. I have learned via another source that as of Sept. 9, 2016, that SandRidges Chapter 11 reorganization plan was confirmed, allowing them to exit bankruptcy proceedings within 30 days. I have not received legitimate notice from them directly on this, yet.
Kim M. Miller
Mineral Owner
Absolutely none of the replies to my initial question are helpful at all!! I still have not received any royalty payments from SandRidge and they have been producing!
Does any one have an update on this issue? Is Sand Ridge paying royalties?
It seems as if some companies have gone into a wait and see position.