Doomsday Prepping for Economic Catastrophy

[TheArchitect]

My point is, you can't quantify it, probably never will be able to.

What is it a point system, how do you figure how bad you were and the according punishment?

What I'm getting at is, obviously if you live an honorable life, are honest and loving, charitable, and just a good human in general, good things will/should happen to you. Much of it is how you view life, if it's always in a negative light youd be able to argue good things that happen to you are actually bad.

Why I say karma is not a law, is that, if it were, then bad things would happen to bad people, and good things to good people. But we know it doesn't work that way, we see some of the greatest humans on earth taken in or before their prime, it's just how life works.

 

[bentom187]

i beleive in karma.its simple physics ,cause and effect mixed with intent although the fruit doesnt always go bad overnight/or ripen , and we may miss the connection. the bad or good will be relitive and change though time, and isnt limited to this existence as we know it to be now.
do the right thing and dont worry about the returns.this sort of underminds it. atleast thats what i do.anything negitive experienced here, i just think i must have done somthing wrong before at some point in time.we only have ourself to blame then we can make fun of ourself for still not being able to even get out of our own way, otherwise this wouldnt have been a issue.

i have read alot of buddhist and daoist literature so i figured i would take a stab at it.
its just my view of it.

 

[BushyOldGrower]

Karma doesn't guarantee you pay for your mistakes always in this life so it could be the next one. The wages of sin are death. Then we recycle and karma happens like everything that is all recorded in the universal energy.

You will be an accumulation of past lives in each life. So your karma is in you when born and then you start accruing good or negative karma. I see I do it to myself all the time.

Just remember to never do anything you think is wrong. Bog

 

[OrganicBuds]

Just remember to never do anything you think is wrong. Bog

Great post BOG. Too many have forgotten this over the years. I would also add treat others as you wish to be treated. Have a great weekend guys.

 

[darkshadow]

I still think the best system is you take care of yourself.

If you want a house, you must spend the summer cutting down trees and building it yourself like back in the days.

There's no economy, no money, no laws, no government, no nothing.

You do your own things and that's it. Seriously, how stupid do you have to be to think working 15 years from 9 to 5 to repay your house is better than spending a summer doing the work yourself.

Sure, it would be a step backward technologically but, a mile forward at the same time because you don't have to rely on anyone but yourself.

 

[TheArchitect]

No man is an island, darkshadow

 

[Galactic]

Re: Doomsday Prepping for Economic Catastrophy

Dark

I look at your scenario as an ultimate form of self-responsibility. Your scenario is easier for the materialistic to adhere to... Build own house, chop trees, etc. It requires sacrifice and trade-offs... Mini karmic scale...

If we could parlay this into all of our mental, physical, and spiritual thought process even better.

We end up closer to the golden rule rather than lord of the flies.

 

[darkshadow]

No man is an island, darkshadow

True.

I guess what I'm trying to describe is the perfect community.

Living in a "tribute" where everyone help each others and ask nothing in return.

We all know it isn't possible tho because if everyone took care of themselves, they wouldn't have time to help others.

 

[Galactic]

Re: Doomsday Prepping for Economic Catastrophy

There's a story about heaven and hell...

A man is offered a peek into both by an angel.

In Hell, he saw a big lake of fire with all the inhabitants along the perimeter. In the center of the lake was a tiny pool of water. Every inhabitant had a long spoon that could reach into the pool of water and scoop some but it would spill once they tried to angle back and drink. So spoons everywhere, tangled, everyone thirsts.

In Heaven, he was astonished to see the same exact scene! Except in heaven everyone was happy, rejoicing, and smiling. Instead of spooning water into their own mouths, one would spoon water and feed his neighbor, and vice versa. No more spillage. No more thirst.

Makes me lol

 

[BushyOldGrower]

Nice quote on the heaven and Hell thing.

Nice to see these places as theoretical states of being. Which world would you rather live in? One where each person thinks of everyone as his brothers and sisters or the one where we all just care for ourselves? I don't feed my brothers and sisters though. Maybe I would if their arms were broke or something.

So we have to be self reliant and protect our families but we also need to think of others as having a right to do the same and we can help each other while increasing all of our security. We are one big family of man and I respect everyone but I am mortal and foolish.

So come the end of the world you probably don't wanna come knockin...

I could go Rambo nuts...

 

[HOPS5K]

Family is where it's at for me. I've already been in positions where I've needed certain things and my family came to my aid every time. I would like to think in some sort of economic doomsday scenario, the same would be true.

I just barely learned how to fish 2 years ago, and I can tell it's going to become a skill that I should have had a long time ago. If things go to crap, then I will know how to fish at least.

There's a ton of other things to think about though, but I'm somewhat prepared with food, wood, some fuel, a lot of water so far. As long as I can find a place to fish, I guess I'd be okay, I dunno though.

 

[BushyOldGrower]

Fishing is smart. Get a gill net and fishing bow and arrows. We will have no game laws to worry about so fish can be obtained by many methods. Dynamite works too.

Teach someone to fish and learn to hunt.

 

[5th]

Dynamite works too.

Only in the movies.

Learn about snaring n' deadfalls aswell as hunting and fishing...I mean if your just walking around in the back 40 why not right?

 

[BushyOldGrower]

I think everyone should go camping this summer. Camping equipment can all be kept together with a list of things to take. Practice your woodland skills to survive the end of this age. The oil age.

Fun to camp with family anyways right? I was kidding about dynamite fishing but it does kill fish. A net would work better and be safer too.

Perhaps we don't realize all the plants commonly found in the woods that are quite edible. Have you ever eaten the baby ferns? They are numerous and quite tasty.

I can't claim to be expert at survival but my wife and I are content to face whatever comes. We will be together always because we have become one. You can do this too.

Death isn't the end at all...BOG

 

[Hydrosun]

What is the biggest problem? Overpopulation...the ticking time bomb!!!

This is the biggest lie of them all. Humans have the ability to produce MORE THAN ENOUGH calories for 60billion global residents. The concept of food shortages and food insecurity is a method of population control. The lie of over population is to keep familys small and fractured, so as to not compete with the current powers that be.

 

[BushyOldGrower]

No, that's totally wrong...we have a huge pollution problem, a coming oil shortage and shortages of fresh water. Even if we could provide the food the problems will still continue to get worse.

It has been estimated that the optimal population of humans on the Earth to be about one billion or less. Have your read the thread?

Others don't think population is the biggest problem but I do. Too many rats in a box.

 

[unspoken]

I think doomsday prepping is probably a good thing. Something might happen, but whatever you think the event will be is probably wrong. There are a ton of people doing it for a host of different reasons. Most of them will be wrong even if something does happen, but there is no harm in being prepared as long as you are not sacrificing resources that you ought to be using now.

 

[bentom187]

well guys/gals, cyprus is going through the ringer right now,they have discovered what iresponsible fractional lending is,and realize that the deposit insurence sticker(FDIC,to us) is only there to give the impression they are solvent and is actually worthless because your insured with more IOU's between that country and the bank,and is actually not money.the forbes article writer beleives honest banking is too much trouble lol and the only option is insurance through the government,what did einstein say about insanity again?

Why Capitalism Needs Losses, Too | Robert P. Murphy
[YOUTUBEIF]3PLORO0-ApM[/YOUTUBEIF]

http://www.forbes.com/sites/timwors...yre-reneging-on-government-deposit-insurance/

The Cyprus Bank Bailout Could Be A Disastrous Precedent: They're Reneging On Government Deposit Insurance



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There’s a little detail in the just announced bailout of the Cypriot banks (and Cypriot economy as a whole) that could be setting an entirely disastrous precedent for the entire European banking system. Please note the “could be” here, it depends upon how people react next.

That Cyprus and its banks need bailing out is beyond doubt. The banking sector is absolutely vast as compared to the size of the economy (largely as a result of a couple of decades of use as a secure location for Russian deposits) and the banks are indeed bust. Largely because they were heavily invested in Greek Government bonds which then, as we all know, suffered two substantial haircuts.

So, something needed to be done. And something has been done. More money is being sent in to recapitalise the banks, Cypriot loans are being rescheduled, the government will sell off assets to help plug the gap and so on. However, there is this one further detail that could have seriously bad effects:


“
Euro-area finance ministers agreed to an unprecedented tax on Cypriot bank deposits as officials unveiled a 10 billion-euro ($13 billion) rescue plan for the country, the fifth since Europe’s debt crisis broke out in 2009.

Cyprus will impose a levy of 6.75 percent on deposits of less than 100,000 euros — the ceiling for European Union account insurance — and 9.9 percent above that.

There’s nothing particularly bad about making depositors carry some of the load of a bank failure. Indeed, it has something to recommend it: if it happens occasionally then people will take more care over where they put their money and what the banks do with it.

However, there’s a very great difference between allowing depositors without government insurance to take losses and actually reneging on the previously promised government insurance. And it’s that second that they’re actually doing here. Here’s the description of the Cypriot government deposit insurance scheme:

“
Participation in the DPS is compulsory for all banks authorised by the Central Bank of Cyprus, i.e. banks incorporated in the Republic of Cyprus, including their branches in other countries, and the Cyprus branches of foreign banks, incorporated outside the Republic of Cyprus or the Member-States of the European Union. The DPS does not cover deposits of branches of banks established in European Union Member States. These deposits are covered by the corresponding deposit protection scheme established in the country of incorporation.

The DPS is activated in the event a decision is reached that a member bank is unable to repay its deposits, or as a result of a Court’s order for the winding-up of a member bank. Where a bank is unable to pay its deposits, the relevant decision is adopted by the Central Bank of Cyprus or, where a member bank is incorporated in a country outside the Republic of Cyprus, by the competent supervisory authority of the country of incorporation.

The maximum level of compensation, per depositor, per bank, is €100.000.

Note that last number. Under the system until yesterday all depositors in Cypriot banks were insured up to the value of €100,000 with any one bank. Today that solemn and governmental promise has been shown to be false. And not even the European Union nor the European Central Bank are going to make them stick to it. Indeed, very much the other way around. The EU and ECB are insisting that the Cyprus authorities breach this deposit insurance provision.

As I say, there’s nothing wrong with making uninsured depositors take some of the pain. Certainly nothing at all wrong with making those with large deposits take a haircut. The problem is when government has said “we’ll insure this” and when push comes to shove they say “err, no, we won’t”. And the problem with this is that it makes all future EU deposit insurance worth that much less.

Think through why we have deposit insurance? Banks, simply because of fractional reserve lending, are vulnerable to bank runs. If all the depositors turn up at the same time looking for their money back they cannot have it: it’s out in the loans to businesses and mortgages to consumers. This is a known fragility of the system. The only possible solutions are either to have full reserve banking (a bad idea for other reasons) or to have deposit insurance. In that insurance the government stops bank runs stone dead. By promising that depositors (up to some level) cannot lose money. Thus a run does not form and become self-fulfilling.

The point isn’t to make the depositors whole: it’s to stop a bank run forming in the first place. But, what if the government then reneges on a promise to insure depositors? Then the insurance isn’t going to stop bank runs, is it?

How important this is will clearly depend on how many people take note of it. Imagine that, say, the Italian banking system gets into trouble. If we all knew, or all depositors in Italian banks knew, that deposit insurance was inviolable then there might be a way to deal with a troubled Italian banking system. But if word gets around that, whatever people have actually said, deposit insurance isn’t inviolable, that if there are serious problems then government will not live up to their promises (or perhaps, that the EU will not allow them to do so) then what use is the insurance in stopping bank runs? Why won’t all the money flee to Germany thus creating that very bank run everyone is trying to avoid?

Perhaps I am over-emphasising this. But it looks like an extremely dangerous decision for the future to me. Even when Iceland and all its banks went bankrupt the Icelandic government did keep its promises under the deposit insurance scheme that it had. And breaching that principle just seems to be obviating the whole point of having deposit insurance in the first place.

I certainly wouldn’t want to be a central banker trying to deal with a banking liquidity crisis now that it’s been shown that government promises aren’t worth the paper they’re written on, that’s for sure.

It really does strike me as an extraordinary decision, one that will have unpredictable long-term effects.

 

[SpasticGramps]

I've been watching the Cyprus situation closely. There was an thesis put out by the Boston Consulting Group in 2011 that stated the only way the bankrupt status quo would be able to kick the can down the road anymore is start confiscating retail deposits from all citizens (ie having bank holidays and taking everyone's money while they sleep).

I think the numbers for the Cyprus deal were 6.6% from accounts under 100k and 9.9% from accounts over 100k. The IMF and Germany originally wanted 40%.

It has sent shivers throughout the markets as the lawlessness and thievery has been laid to bare for all to see. Everyone will understand that their deposits are no longer sacrosanct and will be confiscated to bail out big banks and failing governments.

Your bank account is not yours, your property is not yours, and you only have rights that the law affords you until some oligarch needs to ensure they don't take losses on their trades.

They are "renegotiating" the terms due to collective gasp of horror and panic that came from the decision, but lowering the number won't matter. The deed is done and the global banking occupation's tyranny is exposed for all the retail dumb money to finally see.

 

[SpasticGramps]

Protesters in Cyprus climbed on top of the German Embassy and tore down their flag and threw it in the street.

Banks are closed until Friday to stem a bank run. The longer the banks are closed the worse the bank run and panic is going to be when they reopen.

The EU and IMF have opened the bank run can of worms. Depositors in Spain and Italy will be sweating.

Another watershed moment in the rolling collapse of the status quo.