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In the discussion thread: Thom Hartmann "The Crash of 2016" [View all]

Response to Warpy (Reply #4)

Tue Apr 21, 2015, 12:01 AM

6. Don't worry the 1% will not be hurt by a crash

It don't matter what the currency does they will own everything when the money dries up...and have millions of people with nothing willing to work for food.
What will happen to people with mortgages?...the banks will own their house and their land and they will be able to buy up that land still owned at fire sale prices.

I knew this woman whose father was a Wall Street investor at the crash of 29 who had the wisdom to see the crash coming and when it came he had cash and bought up something like 20,000 acres in the Ozarks for like 50 cents on the acre because people were poor and hungry...later he cut the timber off of it and made a lot of money and still owned the land.
And that can and probably will hapen again...only this time on a larger scale.
Many a farm was lost during the great depression...and some profited by it greatly.

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Arrow 9 replies Author Time Post
zeemike Apr 2015 OP
BlueJazz Apr 2015 #1
Pharaoh Apr 2015 #2
zeemike Apr 2015 #3
Warpy Apr 2015 #4
LineLineNew Reply Don't worry the 1% will not be hurt by a crash
zeemike Apr 2015 #6
captainarizona Apr 2015 #5
zeemike Apr 2015 #7
mrdmk Apr 2015 #8
zeemike Apr 2015 #9
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