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Way to go TD.
Our dollars in MMF have been "virtualized"
and are no longer really ours.
Our Masters have concluded that puny returns are insufficient to unwind the sheeple's newly found cash saving habits. Therefore, it is necessary to impose risk on the timid and skeptical.
Get out there and buy a Kindle, a house or a car.....or else.
Would this play to AU's advantage?
I know of wealthy people who are disposing of assets, closing businesses and patriating all their $$$ to gold. They plan to live very simply, travel, declare their income to the IRS at what it is (just barely below the taxable rate which extracts from them), and live on savings until this thing either collapses or sorts out.
This gov't doesn't regard your hard-earned savings as your sacrosanct possession, and mandates that it be put at risk. However there are few acceptable risks anymore, and the currency really can't be trusted.
We are in a financial no-mans-land, and only a fool would layer on greater chains to bind him down by playing by THEIR rules anymore.
Try getting gold through a metal detector,
or suffer the haircuts and frauds on paper gold.
Non starters both.
Cash just beginning to awaken as king...
Not everybody is an idiot enough to be living in the United States. And just in case you didn't know, GOLD IS AVAILABLE ALL OVER THE FUCKING WORLD.
"GOLD IS AVAILABLE ALL OVER THE FUCKING WORLD."
Must be watching one of those "limited edition gold coin" infomercials at 3:00 AM. (personally, I was tuned into "riches in real estate" myself)
Lehman never rivalled goldies in FI trading....the world is not a giant conspiracy theory, son
You're an idiot.
I agree. But there are interesting stories out there regarding gold. Like this one: Pak has gold reserves worth trillions of dollars
@ATG The Federal Reserve was created in 1913 and one of its "missions" is to influence monetary conditions in order to stabilize prices.
Compute for yourself, inflation since 1913;
This was a bit of a shocker, the comment...............
Trillions?, how about using some of it to come out of the Stone Age.
In HIS times,
"Silver, was as plentiful as stones in the streets"..............similar sounding.
On the Topic, are these dudes TRYING to start a RUN?.
Personally TD, I appreciate the heads up................
Anyone here????, your opinons on Perth, as a vehicle to offshore it, legally, allocated only.
I agree with you but those new body scanners sure do look convenient to preventing you flying (for now restricted to airports) with anything substantive...
It's like they are hemming us in and corraling us, isn't it?
I'm reminded of the Aesop's fable of the Lion and the Lamb.
"I see many tracks going in, I see none coming out"
Another bullshit FUD turd. You seem to drop a lot of them around any discussion of gold. You're so obvious it's painful.
Have fun wiping your ass with your paper monetary instruments when your heroes pull the plug.
I am Chumbawamba.
Could not have said it better.
Try getting cash through a metal detector dip-shit... it has to do with the metalic filament in the security strip inbedded in the larger bills, get enough of them together in one spot and the signal that is returned from the detector can be picked up.
I am not Chumbawamba.
The fact that Goldman Sachs re released their book, one year after it’s original copyright date of Sept of 2008, in response to conspiracy theories, proves that the theories have some validity. It’s suspicious enough that the book, a 100 years in the making, was released just one month before the stock market crash. Yes, in the newly revised “Introduction” chapter, Goldman Sachs uses the word conspiracy. I am thrilled that the few of use that wrote on the subject had such an impact that Goldman Sachs found it nesscecary to re release their book.
They also added a last chapter entitled “A Perfect Storm” of course after they could see how Paulson’s inspired plot to crash the markets, and then loot the US Treasury played out. This new last chapter (released one year later) is preceeded by a chapter entitled “Before the Storm.” How cute is that? “Before the Storm” and a “Perfect Storm.” Well get this.
The 1st version came out one month before the stock market crash, and so them using the title “Before the Storm” many months before the crash, making Goldman look a hell of a lot smarter than anyone else. And the fact that they used the word “Before” in the heading of the last chapter of the book, insinuates that they are planning to re release their book after the crash?
“The Partnership,” 1st version in 2008, released months before the market crash, is Goldman Sachs feeble attempt to rewrite history, and to prime us on what to believe about the upcoming crash, and lastly to paint a fabulous picture of the last 100 years of Wall Street with Goldman Sachs as King.
One only needs to read the last chapter “Paulson’s Disciplines” to get a feeling of the idea of how this man could of went to the White House to be Treasury under Bush with a pre meditated plan to loot America for $700 billion.
Or read the following chapter “Before the Storm,”on Lloyd Blankflien, Paulson’s successor, where they confess their profits of 3 billion dollars betting against sub prime in 2007, while their main man Paulson is at the White House, as Treasury under Bush, acting like he didn’t see the real estate thing coming? I guess if sub prime loans, were to be the scapegoat, might as well get heir side of the story out in print first.
The people have the power to stop the FED dead in it's tracks.
We need to organize our OWN banking holiday.
Maybe the last business day of the quarter or on $th of July,
We all show up at the bank and demand our money.
The concept of de-leverage really packs punch at Wall Street.
Lets force the issue now, thereby hopefully having more control over the out come of the situation.
Because the people are "Too Small To Fail" we will over comer the money men some day. It is profitzied.
TD, why are you still in the game?
Patrick the Painter
RE: The fact that Goldman Sachs re released their book, one year after it’s original copyright date of Sept of 2008, in response to conspiracy theories.......
As I was trying to say above:
Goldman Sachs uses the word "Before" in the title "Before the Storm" for the last chapter in the book "The Partnership: The Making of Goldman Sachs.
The stock market crashes one month after the release date of the first version. One year later, Goldman Sachs re releases the book, except they add a new last chapter, entitled "The Perfect Storm."
It makes it seem as though they knew the stock market was going to crash. The new version is in paper back and is only $20 versus the $40 for the first version. They realy want you to own a copy of this "new history."
ViVi Goldman Sachs
Bravo. Further to that dissect the events. A money market fund with 750 million in Lehman commercial paper broke
the buck when Lehman couldn't make good on the loan.
At that point the Fed could of stepped in to backstop
the trade they chose not to letting Lehman go. Bernanke claimed they had no authority to step in that's a lie. They had the authority the argument is Bernanke and Paulson needed to create a sense of urgency in Washington to get them to pass the bailout. Only it backfired it cost us much more in the long run. Barclays claims they passed
on buying Lehman because the fed wouldn't guarantee the
risk like they did with the shotgun marriage of Bear and
JP Morgan Chase. I have been in the debt capital markets
for over two decades and I have never seen anything like
what has gone on in this country in the last two years
it is a disgrace.
Just don't try getting anything close to 10 Lge thru............
Their is a legal way to get Gld out anyone noticed how hard it is to find Krugs of late?.
They are not legal tender..........so, I see no reason / way they can stop you from carrying out what you want.(if I am incorrect, pls correct me).
ATG, I see that "the usual suspects" are irate and attacking whenever their "holy grail" of G-O-L-D is questioned.
I've given up with this crew in regard to this subject. They never provide "light," just heat, profanities and insults.
In truth, I indeed enjoy their wits and comments. They are a bright group of individuals. But the rage and personal attacks upon those that question the deity of gold leaves me shaking my head and cold.
Perhaps my comments will engender the typical reply, but I hope not. I'd appreciate, from them, their using words and intellect to enlighten and educate.
I'd REALLY appreciate a "how-to" on their plans. Who are they (I don't want names, but generalities regarding age, family structure, income, geographic region, employment, approx holdings in pm) and how/why, in their specific predicament, they believe that their "plan" would benefit all of us.
Me? 50, two teen-age children, $100,00+, midwest suburb, finance - and have more than a little in regard to assets.
ZH provides me (and thousands more) with provocative, extremely intelligent and informative information. I am grateful. I then turn to the comments and find a lot of trash.
I am having a hard time behaving, but you are right, I should. Curious, is that your income, or you and your significant other. For instance you ask me and I am 60+, but then, I would not think to answer my husband's income as my own, but if I did, that jacks "us" up some. He earns his, I earn mine, I don't need him for that. Maybe some day. Hope not.
Here is the other one. Are you better than me if you earn 100+ and I only earn 60+? Is that the point of getting this info? Does that mean you have some greater authority than I do in thinking about these things?
What if I have benefits too? Should I go over to the side and calculate those too and scurry back over here with that total? And will you then go to the side and do the same?
I bet I sound ugly, and this seems to be some of the trash you don't like. But I am honestly curious. What if I am unemployed and living off my PMs? Am I not entitled to have a voice in this conversation?
I mean to confront you like I'd confront a friend.
And I am open to it that I have missed something and that you are not acting classist with this post.
Dear MsCreant, I believe that age is important because it provides a lot of perspective and context.
For instance, if one is 28, with kids, works at a major bank - versus someone at 60+, no kids, then, yes, I think that comments regarding "heading for the hills" (as a silly example) or "refusing to pay the mortgage" or whatever - then the difference in circumstances is important.
Regarding income, to simplify, my wife and I are indeed one unit. Always have been and, I presume, always will be. This maximizes efficiencies and simplicities.
Income in this thread can also relate to pm holdings - sort of. Many posters say "buy gold" and then talk about taking the next paycheck and picking up a couple of more ounces. This differs from someone who has personally stockpiled hundreds of ounces (or more).
I don't personally care about the "next paycheck" person and their ideas and motivations (no offense), but I absolutely wish to know what "Chumbawamba" or GK. They appear to have a serious conviction about pm's and I'd very much like to know their thoughts and plans - with some context.
Bottom line, we benefit (I believe) from the wonderful research, insight and prose of ZH. Many of us are quite concerned with what we perceive to be a financial house of cards - which, we believe, is benefiting a few over the many. I know finance and I know history, but my ignorance is also vast. I wish for enlightenment from ZH and the many posters, who, collectively (and, of course, individually), are at level much higher than mine.
We truly DO NOT know what the future will bring, but let's challenge and educate rather than insult and trash. Thanks. MsCreant - I WANT your voice - and others.
" let's challenge and educate rather than insult and trash."
Fuck off, asshat.
Please, oh please, make the math problems harder. It's gettin all Yahoo up in here!
In a nutshell (because my education took years, so you can't expect me to give you the important background to my argument in one posting, or even several) this system is fucked. Our debt-to-GDP ration is well beyond what other empires experienced just before their collapse. Our central bank is monetizing thin air to pay off the financial blackholes created by unregulated/out-of-control over-the-counter derivatives that are valued at well over $600 trillion globally, and our government is planning to borrow every last unit of currency under the moon in order to keep from falling into a fiscal abyss. How the hell does anyone expect this is going to turn out anything but very, very badly?
There are now literally tens of trillions of dollars of liabilities stretching from here on decades into the future. Our debt-based monetary system means these liabilities will only increase in cost and interest as time goes on. From where are the revenues going to come? The pace of productivity and wealth creation in this nation will have to inflate accordingly. How is this going to be accomplished? Do you have any answers? Does anyone?
We took a quantum leap from billions to trillions--a thousand-fold increase--in our economic discourse. It follows then that our GDP will have track this increase to keep up with the new normal. Again, from where are the revenues going to come? Are they going to be conjured up again like magic, so that we go from trillions to quadrillions as the new new normal? Or are you going to be expected to magically increase your productive output 1000 times to make up the difference, along with every other American (including children 1 and older, since we’ll also be needing more manpower for the job, way more than we have even if you include the illegals)?
WHO IS GOING TO PAY FOR ALL OF THIS?
The answer never comes. Oh yeah, this is simple to solve, they say. They'll just "add liquidity" to the market, then "drain it", as if this was just a matter of doing the dishes, and all the complaining and fussing and fearing and loathing and hemming and hawing was all just a matter of no one wanting to pony up to the sink to actually do the deed. But no, that’s just a cheap distraction. So the question remains:
I’ll tell you who: Us. As in you. And I. And MsCreant. Or at least those of us that are silly enough to file and pay taxes (I don't know about you two, but I do not submit to extortion, otherwise known by the letters I-R-S). And how many people like me do you think there are now? Probably just a relative few. We're the "out there" nutballs. We're the ones that make wild-eye predictions of economic collapse and social chaos to follow. We're the ones who get pooh-poohed. Until the government keeps pulling shit like this. Then we grow in numbers. The disgusted; the disenfranchised; the disaffected. We find each other, learn from each other, and spread the wisdom. We watch as the government creeps upon our God-given freedoms like a depraved predator, one after the other, picking them off until one day we’ll be left naked and defenseless. But we prepare, and in the meantime we keep introducing new people to the mouth of the rabbit hole. And if you’re courageous, and intelligent, you’ll go in. And the deeper down the rabbit hole you go, the more you realize that real money—gold and silver—is the answer.
As more people discover the answer, the dollar takes one step closer to irrelevancy. Once it reaches that point, you have hyperinflation. Once the dollar enters hyperinflation the game is over; or rather, it just begins. But then that's a matter of perspective :)
Will the dollar cross that line of confidence? After all of my study, I sincerely believe it will and am convinced beyond a shadow of doubt about that conviction. I’ve been waiting for someone to come along and explain how I’m wrong about this. Despite my rhetoric, my eyes and mind are open. Convince me. Anyone?
In short: follow Austrian school of economics. I'm not saying they have ALL the answers, but so far it seems they have pretty damn nearly all of them.
In regard to other failed empires:
I noticed that all of them; Rome, Byzantium, China(1910) had bloated, disobedient, corrupt bureaucracies of eunuchs. Thios contributed to their downfall. Britian(1945) differed perhaps in that it was broke and could not maintain it extensive colonies. I have never gotten the impression they were corrupt but if they aren't eunuchs they are queer.
Eloquent, and said far more concisely than I could. And I am not an American, but a close neighbor.
The only thing that I am not 100% clear about is if precious metals are the be all & end all solution to weather the coming GLOBAL storm. And it IS going to be GLOBAL, not just the US.
Gold, Guns, Garden.
Self, Family, Community.
Damn, it's almost a haiku, but not :)
Check this Scheiße out:
Democracy legitimizes this government aggression because the violence is sanctioned by a majority of voters web dizajn
Damn it CHUMBAWAMBA, you write nice. Good flow, like straight from the heart. Meanwhile we wait
for the shoe to drop , and the axe to fall
and i know its gonna hurt us all. Already has. At 59,this grown man has tears in his eyes. Empathy so sucks
How much of this perspective is just you getting old? YOu're 59, after all. There isn't much "future" left for you old boomers, so maybe, just maybe, you are confusing your narcissistic tendencies with the end of the world when really it is just the end of a generation? Let go, for crissakes. Grow up (finally) and realize that the world cannot revolve around YOU forever.
Projecting some issues ya got with mom and dad?
Let go he says, having no idea who I am . I let go years ago.
By the way, growing up is the ability to encompass a larger view. From my perch i see many tent cities and a people with little hope of a positive future.
I see hunger amongst many and recall how ones teeth chatter uncontrollably. At night many keep walking as they literally cannot sleep. Been there, done that and well remembered it is.
Having been poor repeatedly I have a ton of sympathy. This is not about us old fucks. We had ours and our glad of it. But age has taught us and so has suffering. Its not for us we cry ,fear or worry, its our children and you and yours.
If, at our advanced age we have no sympathy or empathy then we havent lived
Hey hey you guys I'm getting out the firehose to break
up the fight. Remember something ideas are essentially
genderless and ageless a good idea is a good idea. This
is meant to be a forum for everyone to voice their
opinions #181711 remark can only be construed as a cheap
immature shot. If you in reality are younger be patient
you to will be older soon enough. Meanwhile where were
you raised in a barn? If you set forth something intelligent rather than insulting people maybe they would listen rather than rolling their eyes and deleting you.
Trades on gone against you today putting you in a cranky
You write well, but you sound just like my father, who is all doom and gloom and no answers. BTW, how do we achieve hyperinflation when we're in the midst of a massive credit de-leveraging cycle? Or are you talking a decade from now?
You and anon181711 just above (you?) sound just like my best friend's son, who is all sniping from the shadows, intergenerational bitching, and no answers. Chumba has answers in his post(s), you just don't see them.
As for the hyperinflation, try this: what happens to the currency when the credit deleveraging is so massive that it takes the sovereign debt with it?
Funny thing about most critics! It's easy to take swipes when you have nothing unique to contribute to the conversation.
Hyperinflation is a psychological event. Credit de-leveraging is a derivation of the direct cause of hyperinflation, which is confidence--or rather a lack of it--in a currency.
So you ignore the excess capacity argument? 10% + unemployment. And rather than gold, wouldn't you suggest we just leverage up on fixed debt to purchase inflation adjusting assets? I mean isn't that going to help us more than gold which you really can't do much with but store somewhere...
if everything goes to hell then the wasteland will be all gold guns and garden - but there still will be very rich enclaves that will keep the game going. You can see it now.. the Detroit's will spread and the Silicon Valley's will shrink and become even more inclusive.
This game can go on a while but we all know from history that this stuff usually leads to wars but now seems a bit different.. it seems that there is a chance that it will be a global oppression where the people are not cast versus each other but rather all cast off together into their own country's abyss
Just out of curiosity what did you study? For how long
and where? Could you give me a back of the envelope
explanation of the Austrian school of economics and how it
will solve the present dilemma in this country? I am a
graduate of UCLA began my university career at 16 years of age. Studied Political Science Theory. That's my background your turn.
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