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Greece: Pray ... Watch .... and Learn!

Discussion in 'News & Current Events' started by righteousdude2, Jul 1, 2015.

  1. righteousdude2

    righteousdude2 Well-Known Member
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    Folks, this could be coming to a bank and community in your neighborhood real soon. We all need to take note, and prepare.

    What are or have you done to be ready for this kind of event right here in America?
     
  2. Jkdbuck76

    Jkdbuck76 Well-Known Member
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    just print more money!

    That's exactly what the uneducated think....just print money!

    Sent from my KFTT using Tapatalk
     
  3. righteousdude2

    righteousdude2 Well-Known Member
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    That's the solution! And why America is in debt to China. For every bill we print, the Chinese have to underwrite with their banks. The Asians have supported America's printing habit for decades, and it is coming an end, and when it does, like in Greece, we will see the same thing in America! :flower::tear:
     
  4. Dr. Bob

    Dr. Bob Administrator
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    Another non-Baptist topic posted in Baptist-only area? Com'on. Think I will start giving infraction points. :BangHead:

    Glad a moderator moved it here. This IS an important topic.

    The entire wealth/savings/retirement of many could be wiped out by devaluing our currency . . making us slaves of the Government welfare state.
     
  5. InTheLight

    InTheLight Well-Known Member
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    I dare RD2 in three or four sentences to describe what is happening to Greece's economy. Do this without Googling.

    Sent from my Nexus 7 using Tapatalk
     
  6. InTheLight

    InTheLight Well-Known Member
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    Stunningly inaccurate.
     
  7. NaasPreacher (C4K)

    NaasPreacher (C4K) Well-Known Member

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    You all do know that Greece can't devalue her currency? That is the issue - the value of the euro is established by the ECB and the rest of Europe is not at the beck and call of a nation which can't pay her debts to the other nations.

    If Greece goes back to the drachma then she can do something about it.

    The US cannot be in a situation like Greece because she can value her own currency.
     
  8. poncho

    poncho Well-Known Member

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    Ya can't borrow your way to prosperity in a rigged market.
     
  9. righteousdude2

    righteousdude2 Well-Known Member
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    We'll see?! :wavey: :smilewinkgrin:

    BTW - I quit the "dare" thing in grade school :laugh:
     
  10. InTheLight

    InTheLight Well-Known Member
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    Why don't you Google "holders of US debt" and report back your findings. Hint: China is fourth on the list at less than 10%.
     
  11. Revmitchell

    Revmitchell Well-Known Member
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    China retakes spot as biggest holder of U.S. debt

    Well, that was short-lived. After just one month, China has nudged Japan out of the way, retaking the top spot as the world's biggest holder of U.S. debt.
    Treasury Department data released Friday showed that China owned $1.261 trillion worth of U.S. government securities at the end of March, compared to $1.2269 trillion for Japan.
    This marks the first time China has upped its Treasuries since last August -- for months, China had been selling U.S. debt. Japan, on the other hand, has mostly increased its holdings in that time, which is why the country became the top U.S. creditor last month.
    But take it with a grain of salt: Treasury's monthly report is based on estimates compiled by the U.S. government, and generally doesn't include what institutions may be purchasing on behalf of the Chinese government. China doesn't publicly report its U.S. holdings, so it's nearly impossible to know exactly how much U.S. debt China holds.
    China has in the past bought Treasuries as a way to keep its currency, the yuan, pegged to the U.S. dollar. That helped lower the value of the yuan and made China's exports more competitive in foreign markets.
    In recent years, partly due to U.S. pressure and partly as an effort to curb its own inflation, China has allowed the yuan to rise in value.


    http://money.cnn.com/2015/05/18/news/economy/china-us-debt/
     
  12. InTheLight

    InTheLight Well-Known Member
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    I didn't know that China had overtaken Japan. I only remember that Japan had surpassed China earlier this year.

    The article is incorrect. It should read "retaking the top spot as the world's biggest foreign holder of U. S. debt." The Federal Reserve is #1 and the Social Security Administration is #2.
     
  13. poncho

    poncho Well-Known Member

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    What is the Federal Reserve?
     
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