FWIW/FYC/caveat emptor/chicken little/etc
(also see bandwidth consideration info in an end note):
Porter Stansberry Wrote:No one believed me three years ago when I said the world's largest mortgage bankers Fannie Mae and Freddie Mac would soon go bankrupt.
Porter Stansberry, Founder, Stansberry & Associates Investment Research -
And no one believed me when I said GM would soon be bankrupt as well... or that the same would happen to General Growth Properties (the biggest owner of mall property in America).
But again, that's exactly what happened.
And that brings us to today...
The same financial problems I've been tracking from bank to bank, from company to company for the last five years have now found their way into the U.S. Treasury. I'll explain how this came to be. What it means is critically important to you and every American...
The next phase in this crisis will threaten our very way of life.
When you read these facts, I think you'll agree with me that the U.S. dollar's days are numbered, as far as remaining the world's reserve currency.
Most Americans don't know that some states in the Mid-West are already using "alternative currencies"...
An NBC News affiliate in Michigan reports that
"new types of money are popping up across Mid-Michigan and supporters say, it's not counterfeit, but rather a competing currency. Right now, for example, you can buy a meal or visit a chiropractor without using actual U.S. legal tender."
What most Americans don't realize is that this is all totally legal.
The U.S. Treasury Dept web site says that, according to Coinage Act of 1965: "There is... no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services."
I saw one report that says there are now 150 of these alternative local U.S. currencies being accepted around the country!
USA Today reports that the largest of these local currencies is a currency called "Berkshares," which are being used in the Berkshires region of western Massachusetts.
According to the paper:
"Since its start in 2006, the system, the largest of its kind in the country, has circulated $2.3 million worth of BerkShares."
**note: this link should be to a flash media page originally --however, if in your browser, you click to close the page, you'll get a pop-up option about not leaving the page, whereupon clicking to not leave it ("cancel") you are presented the entirety of the text of the video/audio (flash), including the several charts/graphs (including the one below)**<=== at least that was my experience
... or worse?!? (or not so much??)