• There seems to be an up tick in Political commentary in recent months. Those of us who are long time members of the site we know that Political and Religious content has been banned for years. Nothing has changed. Please leave all political and religiours commentary out of the fourms.

    If you recently joined the forums you were not presented with this restriction in the terms of service. This was due to a conversion error when we went from vBulletin to Xenforo. We have updated our terms of service to reflect these corrections.

    Please note any post refering to a politicion will be considered political even if it is intended to be humor. Our experience is these topics have a way of dividing the forums and causing deep resentment amoung members. It is a poison to the community. We apprciate compliance with the rules.

    The Staff of SOH

  • Server side Maintenance is done. We still have an update to the forum software to run but that one will have to wait for a better time.

A country goes broke-Iceland

deathfromafar said:
This is scary. One of my friends who is a broker/investor predicted all this many years back and like clockwork it is coming to pass. Anyone care to guess what the prediction odds of another world wide depression are?

http://news.yahoo.com/s/ap/20081007/ap_on_re_eu/eu_iceland_meltdown_1
Click to expand...


I wish he'd told us.
Nina and I had to 'spread' our savings, and unfortunately Icesave bank was one of the two we put it in. So now we lost half of our savings, which were meant to get us through for the next 10 years until retirement at least..... nothing planned after that.. that's what we are working for NOW !

And all this because of the greed of of a 'few' (including the entire global stock exchange system, which should be nuked and the ridiculous and irresponsible bankers (AND customers) in the US).
 
Francois said:
I wish he'd told us.
Nina and I had to 'spread' our savings, and unfortunately Icesave bank was one of the two we put it in. So now we lost half of our savings, which were meant to get us through for the next 10 years until retirement at least..... nothing planned after that.. that's what we are working for NOW !

And all this because of the greed of of a 'few' (including the entire global stock exchange system, which should be nuked and the ridiculous and irresponsible bankers (AND customers) in the US).
Click to expand...

Francois, like anyone else who has suffered on this, I say I am sorry to hear it. Truth is there is plenty of blame to go around in many places for sure. The hell of it is about my friend's predictions is that he co-authored a few articles warning of this type of mess. This man has dual Masters Degrees from Temple University and has been in the game a long time but when he took this position it was only met with condescension, ridicule, and dismissal. He made plenty of references to all the points in his argument of things which were slowly but surely setting the stage for this. He wasn't the only one but many politicians blindly coasted down easy street for the ride the last 20 years ignoring the obvious while the press stupidly followed in boot step with them beating down anyone who downspoke the economy and warned of dire things to come. Of course now they continue to play politics and point fingers while the rest of us lose our backsides. Is BS for sure. The only thing my friend was wrong on was that he claimed all the other nations would come out smelling like a rose while the US was falling singly into the abyss. Looking at all past precedence, the obvious stands out clearly. We'll get through this but my biggest fear is that the "cure" invoked may end up being overkill and in the end no better than the disease itself.
 
deathfromafar said:
I have enough emergency provisions and MRE's stored to feed me and my family for almost a year besides our normal food supply and livestock located at the family farm.
Click to expand...

Good for you!!

I think a lot a people believe they can just shoot their way out when having a year’s supply of food is far more important.

My training makes me understand that I won't last long enough to use 1000 rnds (only if you are lucky). But one thing is for sure; I'm not going to last more than a few weeks without food.

Here is a couple of links:

http://www.survivalblog.com/

http://www.ar15.com/forums/forum.html?b=10&f=17
 
Well all the funny money is blowing away but the guys in Wall Street and in the stock markets used it to pull out real money into their pockets which is why real wages have been going down in many places despite the economy running at full bore. And they are not giving back :isadizzy:...
 
VF15_gray said:
Good for you!!

I think a lot a people believe they can just shoot their way out when having a year’s supply of food is far more important.

My training makes me understand that I won't last long enough to use 1000 rnds (only if you are lucky). But one thing is for sure; I'm not going to last more than a few weeks without food.

Here is a couple of links:

http://www.survivalblog.com/

http://www.ar15.com/forums/forum.html?b=10&f=17
Click to expand...


A couple of time in the past, FEMA dropped off a lot of MRE's to the agencies I used to work for and many of the employees were encouraged to take a few boxes of them. I have accumulated a lot of them a even gave many away to friends and neighbors as emergency provisions. A while back, there was another FEMA MRE shippment. This time there was a boatload of them. Seems they were getting rid of these which there was nothing wrong with them at all but had get rid of them to clear warehouse space. Imagine that! Anyhow, I keep mine in climate controlled storage and conduct routine quality checks on them to make sure they are good to go.
As to my farm, well that area is actually 2 farms and ajoining properties which have good growing soil and livestock areas and are fenced in with a large perimeter electric fence. Years ago we installed some electronic security measures there to prevent livestock rustling which has happened to us once before and other farmers in the area. If anyone enters or cuts the fence or gates unauthorized, we will know it. 70% of the farm is visable from the main house and neighbor's houses are in view of the other areas. Trespassing hasn't been an issue as most folks around the area all know each other and we share cross-property hunting and fishing permissions. Coyotes have been a problem and I've dispatched 3 of them with my AR-15 HBAR Flat Top with a Trijicon TA55 ACOG Sight and 77gr Sierra MatchKing rounds. Other farmers and land owners have killed many Coyotes in the last few years. The State Wildlife Commission placed a year round no-bag limit season on Coyotes and it still hasn't knocked a dent in their population. The damn things are like land sharks and are omnivorous. Anyhow, point being yes, in an emergency situation food supply is critical. Defending yourself(with help mind you) is as well. You can't eat lead either way!
 
I mentioned the bankruptcy of Iceland to my father-in-law the other night...and he said "I don't care." And I replied, "You'll care when the entire world is in a depression and a loaf of bread costs $10 and your Social Security check disappears because the US Government has spent all that money, and you'll care when your General Motors pension dries up when GM goes under." He looked at me and said, "That won't happen." To which I replied, "You need to stop watching the 700 Club and take a look at the real news this evening and you'll see just how close to happening it is."

OBIO
 
Helldiver said:
One depression per lifetime is enough. I certainly don't want to face another one.
Click to expand...

Indeed, that is what my 93 year old grandfather keeps saying!

In fact, he goes as far as saying he'd rather have a war than a depression, but I'm hoping it won't come to that.

The financial troubles in Iceland have had a big effect in the UK, as it seems that not only have many people put their money in Iceland’s banks, but it's come to light today that god knows how many of the UK's local councils & authorities, Police forces, and charities have too! :isadizzy:

http://news.bbc.co.uk/1/hi/uk_politics/7660438.stm

One has to ask why so many of the UK's local councils and police forces put their money into Icelandic banks. Whilst it seems the local councils were advised by H.M Treasury to 'disperse' their assets, it seems more than a coincidence that so many chose to do so in Icelandic banks!

It will be interesting to see how this unfolds over the next few days, both politically (the UK government has frozen all UK held assets of the Landsbanki bank using anti-terrorism laws - not the best way to endear your country to another when you want to get something of this magnitude sorted), and which of the other local councils and Police forces have also put money in the Icelandic banks also!
 
Kofschip said:
Put in it that my 401(k)s turned into 001(k)s today:banghead::banghead::banghead::banghead:
Click to expand...

I why I opted out of doing all but one 401K. The one I had I cashed out of taking the penalty and taxes. Still ended up smelling like a rose and reinvested in precious metals and my money doubled in many areas. My next gig outside CONUS I am going to convert some capital into agri-investments with some other folks. Things are looking very good on this plan in the coming months and years even with all the other mess going about.
 
You must log in or register to reply here.
Back
Top