Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Fiat Ponzi

Like Tree1Likes
  • 1 Post By benjamen

Reply
 
LinkBack Thread Tools
Old 10-01-2012, 07:46 AM   #1
Super Moderator
 
benjamen's Avatar
 
Join Date: Mar 2012
Location: Migratory
Posts: 1,617
Liked: 683 times
First hand account of currency collapse

http://www.silverdoctors.com/living-...-2/#more-14704

"the President of Mexico, Luis Echevarria, one of the most corrupt presidents in Mexican history. “It is a lie that we are going to devalue the peso,” "

"One week later the peso was devalued from 12.50 pesos to $1 USD, where it had been for decades, to 26.00 pesos to $1 USD."

"Everyone in the country was in shock. People’s net worth had devalued more than 53% overnight. The value in savings accounts dropped in half and neither merchants nor consumers knew how to react because they had never been through anything like it before"

"The situation was so dire that a presidential order was passed banning the banks from allowing customers to open US dollar bank accounts."
ADK likes this.
__________________
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 10-01-2012, 10:02 AM   #2
Super Moderator
 
benjamen's Avatar
 
Join Date: Mar 2012
Location: Migratory
Posts: 1,617
Liked: 683 times
http://www.24hgold.com/english/news-...r=Nathan+Lewis

This guy looks at the early 1930s when most major currencies sharply devalued against gold. Look similar to today's major currencies versus gold?

__________________
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 10-01-2012, 10:21 AM   #3
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
Wow Benjamen......I read this exact article just yesterday. That's almost creepy....
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
IMF warns of potential Euro currency collapse PMBug Fiat Ponzi 26 04-20-2012 03:38 PM
MF Global account liquidations might cause massive commodities selling on Friday PMBug PM Bug 16 12-18-2011 07:32 PM
After the collapse.. what's next? DSAbug BSTS 22 12-12-2011 12:59 PM
MF Customer: $50M Commodity Account Gone PMBug Fiat Ponzi 6 12-04-2011 09:57 AM
CME changes initial margin requirements in response to MF Global account transfers PMBug PM Bug 16 11-08-2011 07:38 AM


All times are GMT -5. The time now is 12:09 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.