Can the phrase "Something exists" be formalized?

If you try, you would write something like:
∃x∈E
where E is the set of all possible things, defined most broadly.

But if you are trying to use this as an axiomatic truth, a statement that cannot be refuted, then you have to allow the statement itself to be in the set E because otherwise you could deny the truth of the statement. Does that create a self-referential set problem akin to Russell's paradox or is that a legitimate use of self-reference that does not lead to inconsistent results?

russ917622014-06-19T17:26:02Z

Damn!! drugs are getting powerful these days!!

?2014-06-19T17:23:16Z

Not in a logically consistent way.

?2014-06-19T18:27:13Z

It only exist in our perception.

Perceiving Reality
http://www.youtube.com/watch?feature=player_profilepage&v=0drT_L4G8w8

nameless2014-06-19T17:14:58Z

Everything exists!
That is the new heuristic, axiomatic, unrefutable Reality!
No need for imaginary formality...