April 18, 2009
– Comments (4)
So Gerald Celente, like you, seems to think that now the thing to do is to stop using credit and save some money in metals. Yet you both also say that the system is unsound and falling. These ideas seem to be contradictory--you are saying 'the banking system is about to collapse and you're going to be going hungry soon, so to prepare pay off your credit cards.
It seems to me that if the there's no point in avoiding credit if the entire system is crumbling. In fact, it seems that paying off credit is stupid--if the economic system we depend on for sustenance is about to fail, we should be buying things we need to become more self sufficient and self sustainable. If the economic system falls, so does our tragically unsustainable food system, and people will soon be starving. If my choice is between paying off credit and buying equipment to grow my own food so I can eat when the system collapses, I'm maxing out those cards. The banks are insolvent anyway, who cares?
Tell me why this is a bad idea.
Actually I can't.
I do not understand how our government can enforce laws regarding insolvency upon its citizens and NOT on its private banks.
However, until the nations changes course...the direction is what it is..........and if you are able, then paying off debt is prudent under the current rules....but if not.......now that leaves a lot of questions open.
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by