Basically any portable commodity.

I think that’s the real motivation behind the “Cap N Trade Tax”, a large portion of Americans in the very near future wont be able to afford gas (or any portable fuel) as our dollars become worthless, CAP N Trade will mitigate those energy costs and divert some of the expense to other Americans. (no Foreigners will go for this scheme).

Remember the economic effects of $5/gal gas (housing crash)?

Imagine the economic effects of $10 or $40/gallon gasoline.

This is also the reason we’re in the Middle East (to mitigate our worthless dollars), which is also why Obama supports our occupations (his fiscal policies (worthless dollars) require it).

I think in the very near future people wont voluntarily sell us commodities (like Oil) for dollars unless we’re holding a gun to their head.

The feds don’t need to know about your gold or silver now do they? Even if you buy it, who is to say you didn’t barter or trade it away after that.

The statement that

“When someone deposits $100 in a checking account, most of that money is lent out again to other bank customers. Only a fraction—typically around 10 percent—needs to be held “on reserve” to back up the $100 balance of the original depositor. ”

does not apply to the largest banks, or more precisely to the former 5 largest “Consolidated Supervised Entities” consisting of Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley.

The leverage of these giant firms was in the range of 20-1 to over 30-1. See
http://en.wikipedia.org/wiki/Net_capital_rule#cite_note-65

These firms had reserves that were closer to 3-5% rather than the 10% cited in the Mr. Murphy’s article.

The statement that
“If and when the banks begin lending out their excess reserves, they will have the legal ability to create up to $8.5 trillion in new money.”

assumes that banks will not have other needs for their reserves. (It also assumes they confine themselves to traditional 10-1 leverage, which presupposes a change in their past behavior.) If large banks suffer further losses from the continuing meltdown in residential and commercial real estate mortgages, they may draw upon those reserves to cover their losses. That is a very plausible explanation for their parking those reserves at the Fed, which pays a minuscule rate of interest.

Similarly the Fed’s $1 Trillion in new assets consists largely of toxic waste purchased from these firms at face value. Eventually the losses on this paper will be realized, significantly reducing the balance sheet of the Fed. Since most mortgages are 30-year notes, within 15 years at most the losses will be undeniable. Given the current default and bankruptcy rates, the losses will very likely be realized sooner rather than later.

So much of the bank’s excess reserves and the supposed balance of the Fed could be wiped out by canceling real debts with newly created credit. The money supply is still increased dramatically, but not by the fractional reserve ratio.

This is not to contradict the primary point of the article, that the Fed is very likely to continue debasing the dollar. They simply have less control than anyone realizes. The future is uncertain, but appears to be very grim indeed.

The coming one-world-government (where ALL of this global chicanery is leading) is being allowed by God NOW …. it must occur in order to ultimately fulfill Revelation 19:19 (“…the kings of the earth, and their armies, gathered together…”)

It cannot be stopped. No amount of gold, food storage, bazookas, nor “wisdom” from PhD professors will stop nor postpone it.

Understand bible prophecy and you will understand everything….omit it, and well, you get the idea…

btw, one cannot gain the wisdom of the bible unless one is a true believer … that’s the catch that will bring destruction to many. Google “sinner’s prayer” for instructions on becoming a true believer.

Humankind’s future is ALL foretold in the bible…..waiting for you.

Personally I believe that it will all be over by 2020, with much pain and destruction between now and then (all outlined in the bible).

For the naysayers and unbelievers and scoffers:

Another bible prophecy is that Damascus (Syria) “shall be a ruinous heap” (Isa 17:1). So when (not if) you see/hear of Damascus being destroyed, may I highly suggest getting on your knees?

The goal of Pelosi, Frank, Reid, Dodd and their ilk is as much retribution as redistribution, and it is reasonable to expect confiscation of precious metals, punitive taxes on capital gains and foreign investment, and wage and price controls intentionally leading to shortages, along with a conversion/debasement of the dollar to another currency unit. Rahm Emmanuel spilled the beans on creative emergencies, and he’s calling the shots. What are we waiting for?