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Egypt Proactively Preparing For Tunisian-Style Rioting: Airport Intercepts 59 Outbound Gold Shipments Worth Tens Of Millions

Tyler Durden's picture




 

After a week ago we learned that the central bank of Tunisia had parted with 23% of its gold stash courtesy of now deposed president who fled the country with a 1.5 ton shipment of gold, it appears that Egypt is preparing for a comparable spike in revolutionary activity. Only unlike the now former Tunisian president whose gold sequestering actions were retroactive and thus, quite lucky to succeed, Egypt has taken proactive measures. According to Egypt News, the country's airport has intercepted 59 shipments of gold directed for the Netherlands "worth tens of millions." The gold, as well as an indeterminate amount of foreign currencies, was hidden in pillow cases: uh, cotton may not show up on X-Rays, but gold sure does. We eagerly await to learn how big the decline in the country's official holdings 75.6 tonnes of gold will be after this most recent episode confirming that gold is precisely money. And all this happening despite gold's complete and thorough inedibility.

From News Egypt, google translated from the Arabic:

Authority announced today the state of emergency to re-examine the expulsion of 59 gold and foreign currencies was on its way out of Egypt on the path of smuggling after the discovery of tearing some pillow cases before they are shipped to the Netherlands.

The workers were shipping on the plane heading to Amsterdam, the Netherlands were surprised to tear bags under the 59 parcels containing large quantities of gold and foreign currencies worth tens of millions were reported to officials.

Committee was formed headed by one official of the Egyptian banks have been re-examine the packages and parcels to make sure that shortages and supervise the shipment on the plane.

In other news we urge readers to listen to Jim Rickards most recent interview with King World News discussing everything from gold, silver, Greenspan, the Fed, QE the US Dollar and much more (link).

h/t Scrataliano

 

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Sat, 01/22/2011 - 15:44 | 896011 snowball777
snowball777's picture

How does this prove that gold "is money", and not just easily converted into a large amount of same by the criminally inclined?

Sat, 01/22/2011 - 15:55 | 896032 Thorny Xi
Thorny Xi's picture

Gold is wealth, not money.  So are arable, fertile farmland with poor people around to work it, oil reserves, the ability to think clearly and get along with a wide variety of people, ect.  Money is an agreed-upon medium of exchange to facilitate the transfer of wealth.  As wealth, gold can be stolen by those with the power to confiscate it.  The same people can more easily devalue money. 

Sat, 01/22/2011 - 16:07 | 896052 Malcolm Tucker
Malcolm Tucker's picture

Speaking of devalue the FED snuck in a MAJOR rule change that will prevent it from taking losses on its MBS holdings and, instead, assign those losses to....the Treasury!

http://fedupmontrealer.blogspot.com/2011/01/fed-hides-major-accounting-change.html

Gotta love Banksters

 

Sat, 01/22/2011 - 18:07 | 896270 flacon
Sat, 01/22/2011 - 23:31 | 896644 hamurobby
hamurobby's picture

Nice.

The only reason gold failed as money was because it could only be expanded to a certain point at a fixed value. Two different restrictions that could not be held accountable, banks are thieves, accommodated by governments.

Sun, 01/23/2011 - 14:48 | 897310 Turd Ferguson
Turd Ferguson's picture


I'm particularly proud of my latest creation.

http://tfmetalsreport.blogspot.com/2011/01/new-movie.html

Sat, 01/22/2011 - 23:02 | 896613 jomama
jomama's picture

coincidence that this is around the time that Au and Ag started their tank fest?

Sat, 01/22/2011 - 16:36 | 896117 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Monie is:

1)  A unit of account

2)  A store of wealth

3)  Fungible

4)  A medium of exchange

Pop quiz, which of these does fiat not fit?  Fiat is not a store of wealth.  Precious metal on the other hand fits all 4 categories perfectly.

Get monie!

Sun, 01/23/2011 - 16:30 | 897508 h3m1ngw4y
h3m1ngw4y's picture

money is a claim on human labor

Sun, 01/23/2011 - 16:30 | 897509 h3m1ngw4y
h3m1ngw4y's picture

money is a claim on human labor

Sat, 01/22/2011 - 17:08 | 896178 Silver Bully
Silver Bully's picture

Money has 2 uses, defined:

1. A medium of exchange.

2. A store of wealth.

Gold has been both for over 5,000 years. It has survived countless empires, civilizations, countries, nation-states, tribes, and any other group human beings care to call themselves.

Therefore, it is the ultimate currency. 'Barbarous relic', indeed.

FYI, we Americans are so bright, we call it a 'commodity', not a currency. You can tell how far we're gonna go. Yes sir, indeedy.

Sat, 01/22/2011 - 16:35 | 896118 Math Man
Math Man's picture

Seriously, no suprise here.

It is 5x more lucrative to steal gold than it was 10 years ago.

No big surprise that more people are stealing it now.

 

Sat, 01/22/2011 - 19:32 | 896406 Its the Vatican...
Its the Vatican Stupid's picture

Who says it's stolen???

Sat, 01/22/2011 - 18:38 | 896325 dumpster
dumpster's picture

once again a brain washed and inept bunch of diaper clad loggers ,, wit5h out probably a pot to piss in,,Start the same refrain about gold..

They bash their intellect on a bag of straw,

No nothing of historical standards // read nothing about china ,k Russia , india  stocking up on gold

Have not read the latest stinky greenspan covering his butt allen ,, that the gold standard may need to be reestablished ,

sure it doesn't prove that gold is money,, it is a self evident fact.. lost to a Keynesian crew of egg suckers . 

 

 

 

Sat, 01/22/2011 - 20:47 | 896486 snowball777
snowball777's picture

Once again, the same "because I said so" circular lack of reasoning...quad erat adsumptum...it says so in the bible and Andrew Jackson was abused by banks as a child so it must be true, right mommy?

A "gold standard" is not gold as money (as long as we're on strawmen and all) and my opinion of the Maestro's vacillations is on that page.

As for intellect, try a mental exercise...can something be true while still not being proven so by a specious (pun!) argument?

 

Sat, 01/22/2011 - 22:39 | 896576 dumpster
dumpster's picture

so grass grows in your teeth .

 

usually flossing takes the stain out

Sun, 01/23/2011 - 06:04 | 896883 i.knoknot
i.knoknot's picture

good to see you dumpster - long time.

interestingly i'm seeing a lot of old-timers in here lately.

i wonder what we're sensing...

certainly not the headlines pulling us back in here.

cheers

Sat, 01/22/2011 - 19:24 | 896396 Sad Sufi
Sad Sufi's picture

Good point snowball.  Gold is transportable and is great for unauthorized movement of value, just like cash.  Gold isn't magic, and it can be used by criminals.

Sun, 01/23/2011 - 07:24 | 896913 Al Gorerhythm
Al Gorerhythm's picture

That's pretty sad Sufi. By whose authority may I transport MY wealth or value? No, that's not sad, that's sick, control freak bullshit. Seek help.

Sat, 01/22/2011 - 22:16 | 896512 Al Gorerhythm
Al Gorerhythm's picture

Your question seeks an answer. It sounds like an internalized scream for help. You will find answers to your internal quandary only from without. External stressors are the stimuli which promote inquiry. Without recognizing them or investigating them, your normalcy bias remains unchallenged.

The Austrian principles of sound money were not bestowed upon any of us at schools we attended. We were steeped in the same nonsense as you, lived the dream as much as anyone (paper currencies as money). We aren't aliens from another planet, suddenly landed with answers to the universe. Our reasons for turning to gold have been adopted later in life, where, after living under the same system that you endure and for those of us feeling cheated out of hard earned property, discovered there was a way to protect our wealth from the depredations (plundering) of government.

It ain't fool proof, considering the current system's over-reaching intrusion, but at least (as a defensive strategy employed in answer to legalized systemic theft) it has its merits. Idly standing by to watch years of wealth creation be destroyed by schemes adopted by government and banker's inflationary taxation, is not an option. Some of us hold such deep convictions about the criminality of the current monetary system, that, charged with civic and familial duty, wish to see the system changed.

If you are a troll, your glib efforts in denigrating our considered strategies of wealth protection, offer no new insights and will be wasted here and be judged as nuisance value only. You will need to find another place to feed you ego being as we are not easy marks. Fool me once ...., you know what Im sayin'.

If the intent of your question was an honest yearning for answers; try Fekete, Rothbard, Aristotle, Newton, Adams, The Founding Fathers and (novelly) "born again" Greenspan as to why gold is money, and then try G. Edward Griffen's "The Creature From Jekyll Island" as to why paper isn't and how the machinations of men with Shylock hearts and dead pool souls, have surreptitiously gained the where-with-all to mill your saved labor into dust.

If you are into that form of masochism, then have fun with that. See you at the end of the game.

Sat, 01/22/2011 - 23:01 | 896612 snowball777
snowball777's picture

I own Au, Ag, and my favorite, Palladium, but I don't fantasize about using them to buy groceries.

I recognize the value of grounding fiat to something tangible (though I'd be just as happy to see some other commodities introduced to the basket of currencies that constitute the SDR), but my question was about the use of logical fallacy to attempt to establish that line of reasoning, no more, no less.

I have very little respect for Austrian economics as what I've read thus far it is little more than pablum and sophistry which employs methods just as corrupt as the one I pointed out in my original post. Credit money will be a source of economic instability with or without pure fiat or a Fed Reserve and giving up all ability to manage the monetary base whatsoever will make things just as bad, only in a different way.

 

Sun, 01/23/2011 - 01:53 | 896768 Al Gorerhythm
Al Gorerhythm's picture

"I own Au, Ag, and my favorite, Palladium, but I don't fantasize about using them to buy groceries."

I am at a loss as to what other reason there is to own them. I don't fatasize about it, I live that reality. Nothing fallacial in that. If I need something, I buy it. To do that I exchange gold or silver for cash and purchase them. As gold and silver have had no other liabilities tied to them, have no need for a 20 + 2 % fund manager gouging their value, are not devalued through printing, they have served me well in as a medium that have maintained the purchasing power of my savings.

An SDR? Are they currency for the man on the street? How will they get used for exchange and how do you save them? Where do they come from and controlled by whom? Probably by some foreign bureaucrat with the power to borrow as much as they like, covered by off-balance-sheet accounting practices? This sounds all too familiar. Come on now. You are surely not advocating more of that are you? What commodities do you propose make up the backing that aren't consumed? Coffee? Copper, Oil? Dirt? Why mess around, when we know that gold and silver have worked in the past. Why the denial?

Further, if credit money SDRs are to be used, why the need to back them with any commodity? Why not back them the same way as they back local currencies the world over, to wit, the encumberance of the worker's labor through taxation. Good faith and credit. Greece is the word.

Please define money for me so that I can make considered points in response to your thoughts. I'll have to go back and read your original posts but can you support your findings on the sophistry and pabulum and corruption that you refer to in the Austrian school. How can the use of gold and silver as coin for payment and extinguishment of debt be corrupted if any credit notes are tied to it through redemption? Is my take on the writings of the Austrians hard money principles misconstrued?

"Giving up the the ability to "manage" the monetary base will make things just as bad."  

I'm guessing that by that you mean "the government" as manager. Government ceded to the Federal Reserve, a private consortium,  the right to "print" money or lend it into existence through ledger book entry or digital credits, long ago. The banks create (manage) the bulk (all) of the credit money that you favor, and control its price and availability, at their discretion. The printing of money is not wealth creation. Nor for that matter is the coining of gold and silver. However, when used as yardstick of value (considering all other mediums, including "good faith and credit) and when used as a governor (speed choke) on the creation of any credit note linked to redemption, they are by their very nature, (5000+ years of efficacy and all) undeniably effective in thwarting deception and avarice.

The banks have won the right to circumvent the redemption of credit notes, by making their credit notes represent a share of the nations GDP, rather than an individual's wealth. It's the nation's money, rather than mine. It's a well worn play by the banks that encumbers labor via taxation, using their government sanctioned monopoly over supply and redemption. They create debt through government borrowings and make you work it off through taxes.

The structure of the SDR plan the same and will be in the hands of the same cartel. Therefore, if I'm to be cast from the frying pan and into the fire, I'm wondering what your point is.

Al.

Sun, 01/23/2011 - 02:22 | 896791 Al Gorerhythm
Al Gorerhythm's picture

I re-read your original post and the article. I believe that one of the properties of money, (for it to be money) is its universal acceptance as extinguishment of debt, its fungibility. I would suggest that the thief would find a willing person who holds the same perception, anywhere else in the world. That, as well as its other well recognized properties as a medium most readily accepted as money (divisibility, rarity, longivity) would make the case.

Name any other medium that does that!

Sun, 01/23/2011 - 10:15 | 896991 snowball777
snowball777's picture

It is "most readily accepted" by cultural convention alone...sugar and puka shells could fill that role, if it was drilled into us that they "are money" from birth.

 

Sun, 01/23/2011 - 17:44 | 897629 Al Gorerhythm
Al Gorerhythm's picture

You avoided the question. Name another medium that fills those roles. Sugar and puka shells fell by the wayside because of their lack of monetary properties? Like I said, when it comes to keeping the issuer of a credit note honest in intent, gold and silver certificates are the most reliable money medium. Other commodities are best exchanged through other forms of delivery contracts.

Honesty is a cultural convention as well and that convention requires verification and satisfaction. By convention then, let's make our money honest. Name a medium.

Sun, 01/23/2011 - 17:58 | 897647 snowball777
snowball777's picture

Energy. Difficult to fake, generatable by anyone, divisible, and storable.

Sun, 01/23/2011 - 18:38 | 897688 Al Gorerhythm
Al Gorerhythm's picture

Sorry, able to be consumed. How do you exchange energy with someone for goods and services/ How will the system work without corruption. If everyone can produce energy, it wouldn't be exchangeable.

Intertemperal consumption theory is the study of the consumption and savings preferences of the average man. Storage of energy and the production of energy (by the way, in which form do you suggest?) is very inefficient and expensive. Expand on your "generatable by anyone" statement and why we aren't doing it enmass?

Sun, 01/23/2011 - 22:27 | 897998 nuinut
nuinut's picture

@snowball,

 

It would probably be helpful if the item you select was the most likely for others as well, which is to say a focal point:

 

In game theory, a focal point (also called Schelling point) is a solution that people will tend to use in the absence of communication, because it seems natural, special or relevant to them. The concept was introduced by the Nobel Prize winning American economist Thomas Schelling in his book The Strategy of Conflict (1960). In this book (at p. 57), Schelling describes "focal point[s] for each person’s expectation of what the other expects him to expect to be expected to do." This type of focal point later was named after Schelling.

Consider a simple example: two people unable to communicate with each other are each shown a panel of four squares and asked to select one; if and only if they both select the same one, they will each receive a prize. Three of the squares are blue and one is red. Assuming they each know nothing about the other player, but that they each do want to win the prize, then they will, reasonably, both choose the red square. Of course, the red square is not in a sense a better square; they could win by both choosing any square. And it is the "right" square to select only if a player can be sure that the other player has selected it; but by hypothesis neither can. It is the most salient, the most notable square, though, and lacking any other one most people will choose it, and this will in fact (often) work.

Schelling himself illustrated this concept with the following problem: Tomorrow you have to meet a stranger in NYC. Where and when do you meet them? This is a Coordination game, where any place in time in the city could be an equilibrium solution. Schelling asked a group of students this question, and found the most common answer was "noon at (the information booth at) Grand Central Station." There is nothing that makes "Grand Central Station" a location with a higher payoff (you could just as easily meet someone at a bar, or the public library reading room), but its tradition as a meeting place raises its salience, and therefore makes it a natural "focal point."

 

Mon, 01/24/2011 - 08:57 | 898356 snowball777
snowball777's picture

Sounds like a cross between the prisoner's dilemma and family feud. I think the location and connectivity of Grand Central would make it Pareto Optimal for that problem. For SF, it would be the Embarcadero BART station.

 

Mon, 01/24/2011 - 09:20 | 898379 snowball777
snowball777's picture

Does the fact that it can be consumed mean anything if it is a near infinitely renewable resource?

Electrical energy in batteries could be transferred with a wire (my phone's doing it right now) or without one (if you're Tesla) and technically measurable down to the picoamp (though your battery could be a cheap knock off that is only precise to a milliamp). 

It can be generated with a some coiled copper and a little sweat, but not in the sense that a single man could do so enough to debase it as a currency, as you pointed out for me.

Mining gold and silver isn't exactly cheap either and silver is consumed by industry, but suggested as currency on these boards daily.

 

Sun, 01/23/2011 - 02:18 | 896801 traderjoe
traderjoe's picture

Bravo!

Sun, 01/23/2011 - 17:54 | 897644 snowball777
snowball777's picture

"I am at a loss as to what other reason there is to own them."

Let's simply say that my interests are in hedging against inflation (wealth protection), rather than a return to the use of PMs as the sole medium of exchange. I'm not interested in returning to the late 19th century.

No, SDRs aren't a "one world currency" for the man on the street, but they do facilitate international trade. Since they are only defined in terms of fiat, they are subject to the same machinations as fiat. Adding gold to the basket of currencies would provide all the same benefits that you believe replacing the dollar with gold would have.

I don't know where you got the idea that I 'favor' credit money...moving to a fractional reserve ratio closer to 2:1 than 40:1 would be a good thing in as much as it would help eliminate the asset booms and busts we've been subject to since I was born (early 70s). Floating gold convertibility would give you the market-controlled peg you desire while retaining the positive benefits of fiat.

As for gold and silver "working in the past", you need to re-examine the history of debasement (actual, not printing) and the number of bank panics that a completely inflexible currency can bring to an economy (the rosy scenario painted by Rothbard and the like isn't so rosy for anyone but the Morgans and Vanderbilts). While I don't think that the deal struck at Jekyll Island was in the best interests of the United States, cutting off your nose to spite your face isn't the answer. If an idiot drives a car into a ditch, my first instinct isn't to outlaw the use of cars entirely.


Sun, 01/23/2011 - 20:35 | 897713 Al Gorerhythm
Al Gorerhythm's picture

Let's simply say that my interests are in hedging against inflation (wealth protection), rather than a return to the use of PMs as the sole medium of exchange. I'm not interested in returning to the late 19th century.

The use of gold and silver, tied to their paper certificates, constrains the boundless (ergo, bondless) supply of credit. The fact that there was a call on the certificate to produce goods as settlement, didn't eliminate deceit but at least makes the certificate savable. Another benefit is that it constrains unlimited government spending and dishonest use of savings by a banker's criminal intent. It commits the bank manager to consult the saver, if they want to stay in business or avoid a rope burn.

One cannot deny the avarice of man, so in order to restrict it, gold and silver naturally curtail those with criminal intent. That does not mean that credit dries up. Wealth is created by people taking risks with their savings. I want a money system that achieves those goal,  rather than accepting debt certificates as money, (oxymoronic if the money is perceived to retain its wealth storage property) coddled crony capitalism and government that is structured on a fascist based model, which we are subjected to today.

The SDR, in the hands of special interest groups and cartels, offers no relief from these pirates, offers no protection to world citizens and as you admit, only serves as an conduit for international trade. It therefore loses out as a legitimate people's money. 

Mon, 01/24/2011 - 09:02 | 898364 snowball777
snowball777's picture

You might explain how we had both PM certs and corrupt, crony government throughout the 19th century.

You don't think that a PM cert can be made worthless as fast as a dollar? Hint: Nixon.

I think you need to re-read my posts if you believe I was proposing SDRs as currency...I only suggested adding gold to the basket, not using them as money, but whip that strawman good, if you must.

Sat, 01/22/2011 - 22:43 | 896579 Caviar Emptor
Caviar Emptor's picture

Wanna know what proves gold is money? Dictators risking their lives to grab gold and run with it. Cause they know the people at the other end will speak their language only if they got gold. And they don't care about anything else they leave behind. So ask yourself this: when the dictators take over, just what do you suppose is going to talk their language: gold or paper engraved with the images of the former democratic regime they destroyed?

Gold, the choice of dictators everywhere.

Sat, 01/22/2011 - 22:52 | 896598 snowball777
snowball777's picture

"...as well as an indeterminate amount of foreign currencies..."

Nope.

Sat, 01/22/2011 - 15:46 | 896015 LeBalance
LeBalance's picture

Yo Pharoah:

"Let the people Go!"

/roflmao/

Sat, 01/22/2011 - 15:49 | 896020 bonddude
bonddude's picture

People may start rioting in Sonoma when the truth comes out about
who raped their local bank into oblivion. The Local NYTimes affliate is on the verge
of breaking this story. A few facts are still available.
http://www.xtranormal.com/watch/8242405/

Sat, 01/22/2011 - 16:02 | 896041 sabra1
sabra1's picture

People may start rioting in Sonoma:

how can you riot if your half asleep?

Sat, 01/22/2011 - 16:13 | 896072 bonddude
bonddude's picture

Coffee counteracts the wine. They've got good coffee in Slownoma.

Sat, 01/22/2011 - 16:15 | 896074 Hulk
Hulk's picture

Rioting Libs? Are you kidding???

Sat, 01/22/2011 - 16:19 | 896085 bonddude
bonddude's picture

Yeah, aren't they the ones prone to rioting, if you want to talk political parties?

They can sure afford pitchforks and torches at least.

Sat, 01/22/2011 - 16:51 | 896159 slow_roast
slow_roast's picture

Are you kidding?

 

France?! 

Sat, 01/22/2011 - 17:56 | 896254 bonddude
bonddude's picture

They perfected the use of guillotine, no? OUI !

Sat, 01/22/2011 - 18:10 | 896275 grey7beard
grey7beard's picture

>> Rioting Libs? Are you kidding???

 

They got us out of Viet Nam.  What have you wingnuts ever done?

Sat, 01/22/2011 - 20:23 | 896459 Hulk
Hulk's picture

Sonoma libs of today  bear no resemblance to vietnam protestors of yesteryear...

Sat, 01/22/2011 - 23:05 | 896617 snowball777
snowball777's picture

You're fooling yourself...the rest of the world making a run on Ft Knox got us out; the hippies didn't accomplish much beyond making a bad name for themselves.

 

Sun, 01/23/2011 - 02:20 | 896803 Rodent Freikorps
Rodent Freikorps's picture

Actually, it was Nixon who got us out of Viet Nam.

The Libs got us in.

Sun, 01/23/2011 - 06:06 | 896884 i.knoknot
i.knoknot's picture

isn't real history great? heh.

Sun, 01/23/2011 - 10:18 | 896994 snowball777
snowball777's picture

Eisenhower and Truman the liberals...too rich.

 

Sun, 01/23/2011 - 06:53 | 896904 CH1
CH1's picture

LOL... you're still on the Vietnam sanctification scam?

And how many people were slaughtered when the US pulled out? (Hint: North of 2 and less then 4 million.) But, that didn't contribute to your little self-aggrandizement party, did it? So, you simply ignored it!

No credit to you, boomer-left.

Sun, 01/23/2011 - 07:04 | 896910 Rodent Freikorps
Rodent Freikorps's picture

Wasn't it amazing how many of kumbaya singing scum became unavailable for comment once the killing fields got cranked up?

Sun, 01/23/2011 - 09:04 | 896951 GetZeeGold
GetZeeGold's picture

 

 

Yup, tricky Dick was sooo tricky......they have forgotten he was even around.

 

Heh heh.

Sat, 01/22/2011 - 18:30 | 896311 Marge N Call
Marge N Call's picture

+100.

This EXACTLY what the FDIC is all about: screwing the little banks and giving their assets to the the giant TBTF crony banks for literally pennies on the dollar. I was a director on a bank in New York with 3 branches. Our balance sheet was much better than most giant banks, but the FDIC came in and shut it down, wiping out every shareholder, not to mention ruining a community bank with a real loan portfolio.

Why don't most people see what's going on right in front of them? They are literally transferring assets from local communities to multi-national banks in the name of the US GOV and the FDIC? How much do these little banks need? 20-75 million bucks? That's NOTHING, Congress spends more than that on lawyers fees for stimulus money handouts to corrupt buddies. Not to mention that they are letting the FDIC, the REGULATING BODY whose mandate is to ensure the soundness of banks so that average Joe depositor doesn't get screwed, caryy out this crime AFTER the same REGULATING BODY allowed the greatest financial failure in the history of mankind to come about on it's watch.

All the sheeple go get their savings out of the bank: mission accomplished sheeple! yay for the FDIC.

Except that:

    1. All the investors in the small bank, average local Joes, lost a shit-ton of money, some wiped out.

   2. All the assets were just "given" to a bigger bank whose CEO plays golf with the right politician - for pennies on the dollar. Yes, now some assholes from God-know-where just bought the note on your house WITH YOUR TAX dollars and OWN your little community.

   3. Guess what happens when you need a loan from the new owners? HA. good luck.

   4. FDIC premiums have gone up, so guess what, I guess you'll be paying the giant bank more fees to cover that. It's not like you have a choice anyway.

   5. Oh fuck it, it's a waste of words...

The good news is that the same FDIC that allowed the whole freaking mess to happen in the first place is hard at work watching the big banks to make sure you get your devalued-to-shit dollars out of your account.

Sheeple need to lose everything before they realize daily ass-raping that happens to them in the name of "government regulation" and "Federal Reserve", etc,etc.

 

 

 

 

Sat, 01/22/2011 - 18:52 | 896350 cossack55
cossack55's picture

Yeah, save your breath.  Been watching this transpire for 3 years and telling everyone weekly about the new Friday 5 o'clock follies.  They would just yawn, and roll over and start snoring.  I'm down to me and mine and screw the rest.  They won't listen, they won't learn, they won't check, they can't spell due diligence. I'm so very tired and i cannot sleep.  Whats the line.... miles to go before I sleep. Ah, Frost.

Sat, 01/22/2011 - 20:00 | 896437 Rusty Shorts
Rusty Shorts's picture

Thanks Marge, that is exactly what is happening here in my hometown.

 

GreenBank of Tennessee.

http://www.reuters.com/finance/stocks/keyDevelopments?symbol=GRNB.O

 -- scroll down and see the lawsuits being brought against GreenBank by panic consumed investors, yes, GreenBank participated in the Tarp program.

Mon, 01/24/2011 - 14:36 | 899418 i.knoknot
i.knoknot's picture

we've got some small banks here that were in the thick of 'the game' ("everyone else was doing it..."), so while marge's point about good banks being taken out is valid, there are many small 'not-so-good' banks that were sucked into the opium den (intentionally, perhaps?)

that said, it seems safe to assume the sheeple will let them all go down, solvent or otherwise...

sigh.

Sat, 01/22/2011 - 22:52 | 896599 Yits and the Yimrum
Yits and the Yimrum's picture

your experience just confirms what I've figured would happen; these theives will use state powers to sieze everything that moves

when they consolidate their monopoly enterprises; it will be time to deliver the useless eaters to the land fill; or wait in a long que to beg for a promising life as a slave to the squid kings

 

Sun, 01/23/2011 - 03:14 | 896830 gorillaonyourback
gorillaonyourback's picture

by the time the sheeple loose everything we will be in a new world order and truly financial slaves.  i only hope there is a resistance that we as americans can rally behind

Sun, 01/23/2011 - 06:55 | 896905 CH1
CH1's picture

The same is happening in Chicago. I have contacts with neighborhood banks there: The Feds are strangling them with stupid regs, then folding the "failed" banks into their big-bank friends.

Yeah, this is fascism.

Sun, 01/23/2011 - 08:59 | 896949 Marge N Call
Marge N Call's picture

Sorry to hear that; lots of us saw this coming the instant this whole "crisis" unfolded.

Until you deal with these people in the FDIC, SEC, State Banking Commissions, etc, you can't begin to understand the level of incompetence, arrogance, and utter disdain for small banks, or anyone who isn't in the Banking Cartel and/or the govnerment for that matter. It's only until you realize that they exist only (in their current form) to make sure the big banks, i.e. the true leaders of the government, maintain their hegemony over the community banks and the people.

They honestly DO NOT care about preserving the wealth and well-being of the US citizenry. It may come as a surprise to those who have not worked for an FDIC-insured institution that there IS NO standard equation for determining the soundness of the banking institution. Sure, there are capital ratios, Basel bullshit, SARs, CRA, ad nauseum, but there is plenty of rom for bank leaders to "justify their position" regarding valuing certain assets such as MBS, ARS, how much capital is "hot money", true LTV, at-risk loans, etc, etc.

Bottom line is that if you are a giant bank with a horde of MBAs, quant whiz kids, a BOD with political connections, you can basically TELL the FDIC how to judge your soundness. If you are a small bank with limited resources, the FDIC will push you around and make you waste precious resources and money on obscure regulations and other hoop-jumping until they finally, without warning, and without justification to ANYONE, shut you down and pre-arrange a looting by their friends.

It's plain to see that the government is controlled by bankers from the Northeast who use laws, regulations, i.e. the government itself to confiscate assets from the rest of the country. The National Banking Act was just the first step. Of course these Northeast bankers are just fronts for the world's elite.

Sun, 01/23/2011 - 23:33 | 898071 Ima anal sphincter
Ima anal sphincter's picture

Thank you.......the last sentence was exactly correct.

Sat, 01/22/2011 - 15:50 | 896023 bonddude
bonddude's picture

"Pharaoh, Moses has opened the granaries!" - Hail Moses

Sat, 01/22/2011 - 15:54 | 896028 cossack55
cossack55's picture

Weird translation.  Does final para mean they took an inventory and then sent the shipment on its way? Who was the consignee/consignor?  Did they perform the tungsten test? Inquiring minds wanna know.

Sat, 01/22/2011 - 16:44 | 896143 Sean7k
Sean7k's picture

Why wouldn't you fly it out on a private plane?

Sat, 01/22/2011 - 17:23 | 896191 serotonindumptruck
serotonindumptruck's picture

Actually, it may be a very clever and well-crafted translation.

The probability of misappropriation is hidden between the lines.

Sat, 01/22/2011 - 15:59 | 896036 High Plains Drifter
High Plains Drifter's picture

Wow !  Those sure are nice gold plated tungsten bars.

Sat, 01/22/2011 - 16:00 | 896037 Red Neck Repugnicant
Red Neck Repugnicant's picture

Netherlands was not the last stop for that gold.  

It was on its way to Toronto, in anticipation of the next pump n' dump video by SilverGoldSilver.com

Anyone notice how SilverGoldSilver.com vanished?  No website.  No phones (866-GOLD-092 hasn't been operational since early December).  No twitter anymore.  All FaceBook entries were deleted.

For some reason, even the original link in the ZeroHedge article was changed to GoldSilverGold.com Backwards...weird.

http://www.zerohedge.com/article/silvergoldsilvercom-runs-out-all-precio...

Who really made those videos?  Why were two more released when the company had already shut down?  

Very mysterious.

Tyler, do you have any information on these guys?  Do you know Albert Dalal?

 

Sat, 01/22/2011 - 16:07 | 896053 Sean7k
Sean7k's picture

I just checked for the site and it came right up. www.silvergoldsilver.com

Sat, 01/22/2011 - 16:20 | 896067 Red Neck Repugnicant
Red Neck Repugnicant's picture

That's not their site.  That's a generic redirect that pops up after the site has been removed.  Look at the address bar on the site.  

SilverGoldSilver.com is GONE

Vanished.  Poof!

Now, the interesting part is who is Albert Dalal, the supposed owner of SilverGoldSilver.com?  Is this the same Albert Dalal in Toronto who owns Think Media?

And who the hell made those videos with such intricate "inside information."  Those videos had the fingerprints of someone very, very familiar with Wall Street.  The jargon was sophisticated and complex - it was not the work of someone who has a 3 month old coin shop.  

Sat, 01/22/2011 - 16:41 | 896134 Sean7k
Sean7k's picture

Interesting. All the more reason to do you due diligence I suppose. Thanks for posting that.

Sat, 01/22/2011 - 16:43 | 896141 Red Neck Repugnicant
Red Neck Repugnicant's picture

Your brain would completely unravel if you knew the real truth behind that scam.

And that's all I'm going to say... 

Sat, 01/22/2011 - 16:46 | 896148 Sean7k
Sean7k's picture

I'll take that chance and it could be good information for all the readers here. Please and thank you.

Sat, 01/22/2011 - 16:51 | 896160 Spalding_Smailes
Spalding_Smailes's picture


I wonder what ben will say / jawbone this week. - ( FOMC )

 

Gold fell, heading for a third straight weekly loss, on speculation that borrowing costs will rise as the economy recovers, eroding the metal’s appeal as an alternative investment. Silver dropped to a seven-week low. The Dow Jones Industrial Average was heading for an eighth straight weekly gain and the benchmark 10-year U.S. Treasury yield is trading at a two-week high. Last year, gold outperformed stocks and bonds, gaining 30 percent. The Munich- based Ifo Institute said its business-climate index increased to the highest since records for a reunified Germany began in 1991.

“Higher interest rates take away the bullish argument that low opportunity costs are supportive for gold,” said Tom Pawlicki, an analyst at MF Global in Chicago.

Gold futures for February delivery fell $3.80, or 0.3 percent, to $1,342.70 an ounce at 10:38 a.m. on the Comex in New York. The metal is down 1.3 percent for the week, after losing a total of 4.3 percent in the previous two weeks.

The Federal Reserve has kept the benchmark interest rate at zero percent to 0.25 percent since December 2008 to bolster the economy. U.S. equities have been rising on optimism for the U.S. recovery.

Holdings in gold-backed exchange-traded products dropped 2.16 metric tons to 2,065.41 tons yesterday, the lowest amount since Aug. 18, according to data compiled by Bloomberg from 10 providers. They reached a record 2,114.6 tons on Dec. 20.

Gold is heading for the first monthly drop since July, after touching a record $1,432.50 an ounce on Dec. 7. Earlier today, the price fell to $1,337, the lowest since Nov. 18.

“We fear a washout to the downside is hard upon us,” said Dennis Gartman, an economist and the editor of the Suffolk, Virginia-based Gartman Letter. Gartman has reduced his holdings of gold by two-thirds this year.

Silver Holdings

Silver futures for March delivery fell 27.3 cents, or 1 percent, to $27.20 an ounce on the Comex, the lowest since Nov. 29. The metal is set for a third weekly drop, the longest losing run since March.

Taurus Funds Management Pty sold all the silver holdings in its $200 million precious-metals fund this month because it considers last year’s 84 percent rally excessive, Co-Manager Brenton Saunders said. The fund stuck with a larger bet on gold, he said.

Platinum futures for April delivery climbed $8.40, or 0.5 percent, to $1,827 an ounce on theNew York Mercantile Exchange. Palladium for March delivery fell $5.85, or 0.7 percent, to $810 an ounce.

 

http://www.bloomberg.com/news/2011-01-21/gold-set-for-worst-weekly-run-s...

Sat, 01/22/2011 - 17:00 | 896172 Sean7k
Sean7k's picture

Spaulding, what does this have to do with this or anyone else's posts here?

Sat, 01/22/2011 - 17:40 | 896227 Spalding_Smailes
Spalding_Smailes's picture


....... Gold ........ ?

 

Next time I'll bash the jews or just wave pom -poms -

How many readers have been blowtorched over the last month because of the " gold up no matter what " chants ringing the halls of ZH, I'm just bringing another point of view. Da ' bears video's ect ..... Silver to da mooooooooon '''

Should we all wear brown shirts ???

Sat, 01/22/2011 - 17:49 | 896245 Hephasteus
Hephasteus's picture

I thought you said all commodities will be crushed. If gold goes down it'll just buy more commodities. So who gives a flip.

Sat, 01/22/2011 - 17:59 | 896255 Spalding_Smailes
Spalding_Smailes's picture

Yep,

Commodities will get hammered very soon ... Gold, everything. It will need to adjust to China slowdown and slower growth moving forward, no more 10%-9% GDP every year. ( How many commodities are fueling this ........ >

http://www.youtube.com/watch?v=sv2nSDq1OTI


Gold is going to fall because it was in a " end of the world/hyperinflation " bubble .... 

Sat, 01/22/2011 - 18:23 | 896297 janchup
janchup's picture

Gold will fall a little bit until the whiners are showing solid losses around 1240 and then the vast ocean of fiat currency will once again be the obvious factor floating it's continuing rise. 

Whiners, what has been the best performing asset class over multiple time frames? 10 Years, 5 years, 3 years, 1 year? Oh, skip the one year, it's only up 20%.

Sat, 01/22/2011 - 17:59 | 896257 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Platinum broke its recent high with authority last week, coming from $1700.  It was a gain of $140 during 10 trading days.  Gold hating is pathetic when platinum and oil just carpet bagged the monie.

Sat, 01/22/2011 - 18:28 | 896304 Hephasteus
Hephasteus's picture

Yep they pinch hit and it makes you think something is really happening in currency but it's just good old platinum and oil out there pinch hitting for a while.

Sat, 01/22/2011 - 18:24 | 896299 Sean7k
Sean7k's picture

Actually, I was referring to the discussion between RNR and I. As for your post, what happens when you've gotten so caught up in calling a top in a paper market and physical is no longer available?

What happens if a world currency is introduced and is based on a basket of physical commodities and you have only paper? 

What will happen to all those dollars if they end up being priced against actual physical holdings of countries versus currency in circulation?

How can a reader be blowtorched if they are buying to accumulate?

As for brown shirts and jews, please. You are sooooo persecuted.

Sat, 01/22/2011 - 18:46 | 896342 Spalding_Smailes
Spalding_Smailes's picture

Everything you just posted has been said for 3 years, no. The mad max playbook - look around, 3 years later ... people eating out, microsoft is still in business, kids are still going to school, people are going to work and on the way home picking up food at the store......

And pull up a 10 year chart of the dollar, show me the big drop after 07' ( derivative,aig,fannie meltdown )...

 

The paper ponzi has driven silver and gold since the mid 80's. Fact. The price today built upon that paper price. Fact. You can't buy shit with gold if you walk up to 99% of the stores around the globe or want to buy anything. Fact. Millions traded every day in the paper ponzi gold/silver market. Fact. The miners hedge with derivatves. Fact. Its a trade like everything else. Fact.

 

Sun, 01/23/2011 - 01:04 | 896416 Hephasteus
Hephasteus's picture

How many times has microsoft been to the bond market since the crash and how much have they bonded out. 4.5 billion or so. And one of them was right before the release of windows 7.

Propped up is propped up. Facades are not towns.

Sat, 01/22/2011 - 20:16 | 896449 Sean7k
Sean7k's picture

Are you sure you understand what the word "fact" means? 

The price today is a reflection of both physical and paper leveraging. If it was built around paper only, then the JPM could push the price down as far as it wants. As even paper depends on the illusion of being redeemable in physical, the degree that physical markets are jeopardized or seen to be compromised- there is a divergence in the pricing power of paper. So, that is not a fact. 

When someone says 99% of anything, I just have to laugh. In the world? You are aware that muslims prefer gold to currency. As they make up more than 1% of the world's shops, you have again misstated the facts. 

Obviously, you don't agree with the opinions of others on gold. That is the beauty of having an opinion, basing your trades and reaping your rewards. You appear to put more faith in the present paradigm, good for you. I hope you do really well. 

I will just enjoy my gold and silver. I'm perfectly content with that. Fact. I sleep easy, knowing my wealth is protected. Fact. I can spend my time studying the movements of the elites and make my plans accordingly. Fact. I don't waste my time believing what the authorities say, just what they do. Fact. Oh yeah, and I've been making great money. Fact. 

Sat, 01/22/2011 - 20:56 | 896487 Mark McGoldrick
Mark McGoldrick's picture

Was the parabolic rise in silver that began at the end of August due to the first set of rumors that began to circle among traders (very quietly) that JP Morgan would be hit with a silver manipulation RICO lawsuit soon? Once that rumor became news in November, silver prices began to experience huge volatility, often struggling for buoyancy. The prior three months were virtually a seamless straight line north. And, once again, all the money in silver had already been made by the time the news was given to the public.  Those that got in the silver trade after the RICO news are underwater, or even at best.   

Why did silver react so strongly (up >50% in 3 months), whereas gold only moved about 15% in the same period of time?

Additionally, I think it would be interesting to know who piled on big JPM short positions in this time frame, as well. 

 

Sat, 01/22/2011 - 22:47 | 896588 Sean7k
Sean7k's picture

The problem with a manipulated market is knowing what is causing the movements. Harvey Organ has an idea that involves China and some interesting political exchanges in return for the use of their silver, as it is suspected the US did not have the inventory necessary to suppress the price.

The suppression is important because of the tie to gold. It is important to suppress both metals to be successful. 

Check out his blogspot.

Sat, 01/22/2011 - 23:00 | 896611 Bay of Pigs
Bay of Pigs's picture

Sean,

Don't cloud Spalding's thinking with any critical thinking, clear facts or rational thought. It screws him up. He's too busy reading the worthless Dennis Gartman quotes.

Sun, 01/23/2011 - 21:32 | 897909 Mark McGoldrick
Mark McGoldrick's picture

The problem with a manipulated market is knowing what is causing the movements...

Yes, very true.

To that point, consider the following anatomy of our recent silver run:

1.  Disinformation in the blogosphere, coupled with specific agendas. 

2.  Rumors on trading desks 

3.  A new Silver Fund (PSLV) reaching into the blogosphere to manipulate/manufacture disinformation

4..  SLV being forced to buy nearly 2k tonnes of silver from late August to November

That is the reason silver went parabolic. Notice hyperinflation was not part of the list. 

Mon, 01/24/2011 - 02:50 | 898191 Bay of Pigs
Bay of Pigs's picture

Disinformation? Are you fucking kidding? Silver has NOT gone parabolic. Your #3 reason is  beyond pathetic. Get a grip pal.

Sun, 01/23/2011 - 02:31 | 896806 traderjoe
traderjoe's picture

+1 especially the last paragraph

Sat, 01/22/2011 - 18:30 | 896310 Die Weiße Rose
Die Weiße Rose's picture

SS-

you definitely should wear a brown shirt,

with a big "A.H."  tattooed on your tiny forehead...

to advertise that you're a complete Ass-Hole .

 

 

 

Sat, 01/22/2011 - 18:34 | 896321 Spalding_Smailes
Spalding_Smailes's picture

You should put your head back in the sand ....

Sat, 01/22/2011 - 18:45 | 896340 spartan117
spartan117's picture

Why?  You need some company?

Sat, 01/22/2011 - 20:36 | 896472 GoinFawr
GoinFawr's picture

The peanut butter around his lips should be a dead giveaway

Sat, 01/22/2011 - 17:51 | 896247 Hephasteus
Hephasteus's picture

He's a retarded cop he talks to himself.

Don't interfere with him he's setting up a sting for the mexicans.

http://www.youtube.com/watch?v=sxODBppps18

Sat, 01/22/2011 - 18:11 | 896279 Spalding_Smailes
Spalding_Smailes's picture

Just watch the Chano's video above it spells out how commodities will get blasted w/China. I'm saving people money, giving them something to research -

 

Keep your brown shirt on waving your pom - pom's .... gold to 2,500.00 by 9/28/11 or whatever .....

Sat, 01/22/2011 - 18:19 | 896293 dark pools of soros
dark pools of soros's picture

who cares about trading pms short term???

most people here have a stash before the run up.

yes silver had a huge run up - i sold some and traded some for gold..  let it fall and i pick it back up for less..

Sat, 01/22/2011 - 18:24 | 896300 Spalding_Smailes
Spalding_Smailes's picture

Thats a bunch of crap. Everyone buying gold at 1,400.00 really. 

 

What's all the volume everyday in the miners & etf's. Or have you passed by Turds' blog.... Futures ect, ect,ect ...... Tons of people killed over the last 4 weeks rushing in after silver hit $30.00 - gold 1,420.00 ....

Sat, 01/22/2011 - 18:41 | 896326 spartan117
spartan117's picture

Your AIG is down 20% in two weeks!  Talk about getting monkey hammered!

Yes, everyone bought at the high last month.  Nobody bought gold at $300 8 years ago.  I didn't!  Gold, what gold?

Sat, 01/22/2011 - 18:44 | 896337 Hephasteus
Hephasteus's picture

I'm still waiting for them to try a new tact.

Blythe Masters caught rubbing her cunt with gold and silver. Gave the gold and silver supply herpes. CDC is confiscating it under the disleaze protection act.

Sat, 01/22/2011 - 18:17 | 896289 janchup
janchup's picture

"I wonder what ben will say / jawbone this week. - ( FOMC )"

Don't you mean flat-out lie?

Sat, 01/22/2011 - 18:32 | 896316 Spalding_Smailes
Spalding_Smailes's picture

Yes. And if he just jawbones .......... woooooooooooosh another wipeout. Whats stopping that. CNBC would go nutz all day, wow they must think the economy is getting better.

 

Why is gold down big, silver down, what 12% ???? With dictators stealing gold, JPM shorts, QE 1,2, Robo signing, gridlock, shortages, more printing every day, as you say QE 4,5,6,7,8 are a MUST, commodity inflation, food inflation, the debt ceiling, crimex shortage, russia and china longs, ..... ect, ect ....

 

How can gold be going down after getting blasted on oct 20th ???? It should be priced at $ 10,000.00

Sat, 01/22/2011 - 18:43 | 896331 Sean7k
Sean7k's picture

Spaulding, you love to do research, check gold and silver price suppression. Check out Harvey Organ's blog. You might find some of the reasons for the opinions on this site.

Sat, 01/22/2011 - 20:38 | 896475 oddjob
oddjob's picture

All his points are made with assumed dollar hegemony,big mistake.

Sat, 01/22/2011 - 18:43 | 896333 spartan117
spartan117's picture

Silver down 12%?  Oh noes!  That means I'm only up 350% instead of 400%.  AIG, only 99.99% left to go before $2,200 per share breakeven!

Sat, 01/22/2011 - 22:39 | 896577 Yits and the Yimrum
Yits and the Yimrum's picture

Asshat

Sat, 01/22/2011 - 17:55 | 896252 umop episdn
umop episdn's picture

Mrsilvergoldsilver's you-tube site was updated 20 hours ago.

http://www.youtube.com/user/MrSilvergoldsilver#p/u

Sat, 01/22/2011 - 18:40 | 896329 Hephasteus
Hephasteus's picture

"Your brain would completely unravel if you knew the real truth behind that scam.

And that's all I'm going to say... "

You seem to know a LOT about this. Are we going to have to rubber hose you?

Soooo what ya been up to.

Sat, 01/22/2011 - 19:12 | 896377 Idiot Savant
Idiot Savant's picture
by Red Neck Repugnicant
on Sat, 01/22/2011 - 15:43
#896141

Your brain would completely unravel if you knew the real truth behind that scam.

And that's all I'm going to say... 

Nice find re the site, nice set-up, then nothing but a tease. How incredibly disappointing...

Sat, 01/22/2011 - 19:29 | 896402 Hephasteus
Hephasteus's picture

I think I figured out who Red Neck Republicunt is. It's gotta be Jeb Bush and grandpa has been giving him cia training ops.

Sun, 01/23/2011 - 02:33 | 896808 serotonindumptruck
serotonindumptruck's picture

Prescott?

Sun, 01/23/2011 - 03:34 | 896838 Hephasteus
Hephasteus's picture

What's a prescott?

Sun, 01/23/2011 - 12:25 | 897084 serotonindumptruck
serotonindumptruck's picture

Prescott is "grandpa". Not sure as to his CIA involvement, so I may be missing something. It would make more sense if GHWB (daddy) was coaching Jeb.

Sat, 01/22/2011 - 18:52 | 896349 Joe Sixpack
Joe Sixpack's picture

The blog and facebook page are still up.

Both link to the missing page.

 

 

Sat, 01/22/2011 - 19:07 | 896368 Mark McGoldrick
Mark McGoldrick's picture

this is fairly interesting.  

all 15 or so posts on the "discussions" wall at FaceBook have been deleted

just click on one. seems the page is still up, but everything was deleted out of it 

 

Sun, 01/23/2011 - 01:03 | 896752 Hephasteus
Hephasteus's picture

Weird. Wonder if they sold fakes and then used the "linking" to zerohedge as way to descredit zerohedge?

Sat, 01/22/2011 - 19:30 | 896405 Rusty Shorts
Rusty Shorts's picture

Thanks Red Neck, good catch.

Sat, 01/22/2011 - 16:16 | 896073 bob_dabolina
bob_dabolina's picture

For some reason, even the original link in the ZeroHedge article was changed to GoldSilverGold.com Backwards...weird.

 

And Soros is a palindrome. Real fuckin' strange and sinister AND he owns gold...

Sat, 01/22/2011 - 16:22 | 896089 bonddude
bonddude's picture

cool Bob 

Sat, 01/22/2011 - 17:55 | 896251 Hephasteus
Hephasteus's picture

He's got a beat but you can't dance to him very good.

http://www.youtube.com/watch?v=KB4bnDKPSX8

Sat, 01/22/2011 - 18:43 | 896332 bob_dabolina
bob_dabolina's picture

My beat; cause I just did:

http://www.youtube.com/watch?v=lQlIhraqL7o

Sat, 01/22/2011 - 18:53 | 896351 Hephasteus
Hephasteus's picture

Was it with a midget or did you only get paritially lucky?

Sat, 01/22/2011 - 16:17 | 896081 margaris
margaris's picture

really weird, thanks for pointing out.

Sat, 01/22/2011 - 18:10 | 896277 naughtius maximus
naughtius maximus's picture

Very interesting follow up!

Sat, 01/22/2011 - 18:32 | 896315 Joe Sixpack
Joe Sixpack's picture

"Who really made those videos? "

 

Julian Assange?

Sat, 01/22/2011 - 16:00 | 896040 Voodoo-economist
Voodoo-economist's picture

algeria and jemen next?

Sat, 01/22/2011 - 16:40 | 896131 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I don't know who is next, but Israel has got to be sweatin'.

Sat, 01/22/2011 - 17:13 | 896184 serotonindumptruck
serotonindumptruck's picture

For some reason, I don't find that to be a comforting or reassuring thought.

Sat, 01/22/2011 - 16:03 | 896042 Rodent Freikorps
Rodent Freikorps's picture

Too bad Swiss banks are no longer trustworthy.

 

Sat, 01/22/2011 - 16:04 | 896047 Motorhead
Motorhead's picture

I thought Robert Rubin ate all the gold that the US government had.

Sat, 01/22/2011 - 16:06 | 896051 DoctoRx
DoctoRx's picture

Is it at GS or the USG that you are taught how to eat gold?  Is there a special enzyme they give you?

Sat, 01/22/2011 - 16:24 | 896095 bonddude
bonddude's picture

As you may know it IS edible. It was fashionable to do so

right up until the major rollout of the guillotine in the French Revolution.

Sat, 01/22/2011 - 16:47 | 896149 Dr. Porkchop
Dr. Porkchop's picture

The Indians eat a dessert treat with a layer of gold on top for Diwali. I can't remember what it's called.

Sat, 01/22/2011 - 16:50 | 896156 dearth vader
dearth vader's picture

Chrysophagy was practiced in Antiquity, until king Midas choked on the stuff.

Sat, 01/22/2011 - 18:40 | 896327 Joe Sixpack
Joe Sixpack's picture

"Is it at GS or the USG that you are taught how to eat gold?"

No, its GSUS .

Sat, 01/22/2011 - 16:21 | 896088 red2893
Sat, 01/22/2011 - 16:25 | 896100 Ahmeexnal
Ahmeexnal's picture

Albania is also on the verge of collapse:

 

http://www.irishtimes.com/newspaper/breaking/2011/0122/breaking8.html

 

And Cowen just resigned as party leader.

Are you ready to ruuuumbleeeeeeeeeeee??

Sat, 01/22/2011 - 16:42 | 896137 dearth vader
dearth vader's picture

They've never moved away far from that verge, anyway.

Sat, 01/22/2011 - 16:46 | 896147 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

"Ladies and gentlmen, welcome to the main event!  In this corner the terrible twosome!  Weighing in at a combined 202 pounds, Timmah and Ben!"  The crowd boos.  "And in this corner, and the size of two full olympic swimming pools, the heavy weight champion of the world....goooooooooooooold!"

Sat, 01/22/2011 - 16:57 | 896167 BlackSea
BlackSea's picture

Ah, yes :

Albania, Albania, you border on the Adriatic,

Your land is mostly mountainous, and your main export is chrome.

http://www.youtube.com/watch?v=yrz1q_zk-SU&feature=player_embedded#!

Sat, 01/22/2011 - 22:25 | 896566 Hephasteus
Hephasteus's picture

You're like the encyclopedia britanica in armor.

Sat, 01/22/2011 - 16:27 | 896103 The Disappointed
The Disappointed's picture

And all this happening despite gold's complete and thorough inedibility.

TD,

ROFL!

Sat, 01/22/2011 - 16:28 | 896107 Quinvarius
Quinvarius's picture

You can eat gold, if it is the only way to get it out of the country.

Sat, 01/22/2011 - 16:47 | 896145 bob_dabolina
bob_dabolina's picture

You can also inset it into trojans (ribbed) and find a young Mexian child willing to have it surgically implanted into their lower abdomen.

Ya know...if you're a deposed leader trying to get your stash out safely without taking too much risk.

-Ben Ali

Sat, 01/22/2011 - 16:49 | 896155 spinone
spinone's picture

Ah, now your icon makes sense.  It is a little mexican child stuffed with gold.

Sat, 01/22/2011 - 17:27 | 896173 bob_dabolina
bob_dabolina's picture

Closeeeee....I have this affinity for midgets (I think they are the coolest human beings on planet earth)

If you google "midget" and click the images tab on top of your google screen you should find my icon. Its the first picture and its a cool looking midget.

The only thing better than a Mexican stuffed with gold is a midget stuffed with gold. I give one to my wife at Christmas every year. One year I gave her a nice suit and she about divorced my ass.

-Ben Ali

The best gift for me is a golden dry erase marker. Ya know, for next year.

-Ping Jiang.

Sat, 01/22/2011 - 19:00 | 896358 Mariposa de Oro
Mariposa de Oro's picture

How many 1oz AGEs can a single trojan hold I wonder?  Hmmm, I could be in for a cheap thrill here.

;o)

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