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Jim Rogers Comments On Triple Digit Silver And Issues Warning: "Parabolic Moves Always Collapse"

Tyler Durden's picture





 

Jim Rogers commented on the recent move by the University of Texas to take delivery of $1 billion in gold, saying the decision is long overdue, and has only occurred because everyone else is now buying thereby taking metal out of circulation. He adds: "But where were these guys five, ten years ago?  That’s when they should have been doing all of this." Indeed the momentum chasers never show up until it's too late. Then Rogers had some words of caution for silver bulls: "If silver continues to go up like it has been over the past 2 or 3
weeks, yes, then it would get to triple digits this year.  And then
we’ll have to worry.  It’s not parabolic yet.  I hope something stops it
going up in the foreseeable future and we have a correction. " There is one caveat: "maybe the US dollar is going to become confetti in 2011, and if
that’s the case and silver goes to $150, then obviously I wouldn’t sell
my silver.  It would be the US dollar which is collapsing.  But if
silver goes up the way you’re talking about without currency collapse, I
would be very worried." So as usual, those long Precious Metals should not hate the Chairsatan but to urge him on to continue doing what he is doing so well: converting that once valuable combination of 75% cotton and 25% linen into "confetti."

From Financial Survival Radio

Financial Survival Radio:  We just read that the second-largest university investment fund here in the US is buying physical gold.  The University of Texas, which is where I live, is putting aside $1B worth of gold in a New York vault.  Some have called this move a tipping point for the precious metals market.  Do you agree?

Jim Rogers:  Well, tipping point?  Gold’s been going up for ten years in a row.  I’d hardly call this a tipping point.  Silver’s been skyrocketing…

FSR:  Maybe a tipping point where we see more institutional mainstream demand.

JR:  Well, again, that has been happening.  If suddenly all the pension funds wake up and say, I’ve got to own gold, they may start thinking about it more and more.  But the thing that’s been getting people’s attention is the fact that gold has been going up so much.  That’s the wrong way to invest.  Look, I own gold.  I own silver.  But where were these guys five, ten years ago?  That’s when they should have been doing all of this.  Unfortunately for all of us, most investors don’t notice something until there’s a good, nice bull market in place, such as with gold and silver.  After ten years of price rises in gold, people are starting to notice.  That’s what they’re noticing more than the fact that the University of Texas is buying gold.  I’m glad they did, I own gold.  And yes, there will be more people buying gold.  Eventually, everybody’s going to be owning gold, and then we’ll all have to sell our gold.  But that’s a long way from now.

FSR:  Silver in particular has been of great interest to my family.  It looks like $50 silver is going to happen very soon.  But Jim, will we see a triple-digit silver price in 2011?

JR:  If it does, we’ll all have to sell, because then you’ve got a bubble, a parabolic move and all parabolic moves end badly.  I certainly hope it doesn’t happen because I own silver and want to buy more.  My hope is, silver and gold and all commodities will continue to go up in an orderly way for another ten years or so, and eventually the prices will be very, very high.  Yes, we’ll have triple-digit silver, but if it happens this year, Jay, I would probably start to think about selling.

FSR:  But what we’ve seen so far, you wouldn’t consider parabolic?

JR:  No, not yet.  But I’m worried about silver.  If silver continues to go up like it has been over the past 2 or 3
weeks, yes, then it would get to triple digits this year.  And then
we’ll have to worry.  It’s not parabolic yet.  I hope something stops it
going up in the foreseeable future and we have a correction.  There’s never one in history that hasn’t popped. 

Now, maybe the US dollar is going to become confetti in 2011, and if that’s the case and silver goes to $150, then obviously I wouldn’t sell my silver.  It would be the US dollar which is collapsing.  But if silver goes up the way you’re talking about without currency collapse, I would be very worried.

FSR:  So that’s the bottom line, those who have been holding on to precious metals for the long term need to watch where the Dollar is to decide whether it’s time to sell.

JR:  That’s certainly part of it, yes.  And you have to watch the price action.  I remember when gold went parabolic in 1980.  I shorted gold when it went parabolic in 1980, and it went higher for another two weeks after I shorted it. But it eventually collapsed.  Silver eventually collapsed.  All parabolic moves throughout history, there’s never been a parabolic move which hasn’t collapsed in any asset. 

Silver and gold, yes, will be a bubble someday, Jay.  There’s no question in my mind that all commodities will be a huge bubble someday.  But I don’t think that bubble is going to happen in 2011.  I think it’s going to be more likely 2017, or 2018…you know, a few years from now.  I’m not picking a year, just saying it’s a few years away.  It could happen sooner, but I hope not.

 


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Tue, 04/19/2011 - 18:47 | Link to Comment PSEUDOLOGOI
PSEUDOLOGOI's picture

Silver, bitchez!!

Tue, 04/19/2011 - 19:12 | Link to Comment The Count
The Count's picture

do you feel better now that you were finally the first to post that?

 

Tue, 04/19/2011 - 20:12 | Link to Comment Mark McGoldrick
Mark McGoldrick's picture

I must say, I'm still very intrigued by the Crash JP Morgue hoopla - whatever happened to that?  If Crash JP Morgue was made into a movie, it would be called, The Bad News Bears invade Wall Street. (Pardon the multiple puns). 

http://www.youtube.com/watch?v=eLG11u3-dDg

Last November and December, as silver busted through $25 and $30, everyone at ZeroHedge was congratulating themselves for having "busted" Blythe.  The atmosphere was very festive here, like a victory celebration. Members were congratulating each other for having purchased several rolls of silver dollars, and were giving hourly updates on coin stock at their local coin store. Some even compared it to a long, hard-fought battle.   

After looking into JPM's 1Q earnings last week, it would appear the rising price of silver has had little to no effect on them.  In fact, they just reported a 67% increase in profits and their stock is within 7% of its 52w high. 

WTF?

Furthermore, since this article pertains to Jim Rogers, here he is dismissing those silver conspiracy theories. He says he's heard the same thing for decades, and puts little stock into them.  

http://www.youtube.com/watch?v=FBzWanlBTe4

So....  what the fuck is up with Crash JP Morgue? Was that all a farce? Does anyone know of any silver ETFs or IPOs that would have benefited from all the hype?

 

 

 

Tue, 04/19/2011 - 20:18 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

WINNING!

Tue, 04/19/2011 - 20:34 | Link to Comment Mark McGoldrick
Mark McGoldrick's picture

You know who else is winning?

Lean Hogs:

http://finviz.com/futures_charts.ashx?t=LH&p=d1

Why aren't people talking about hogs?  Compared to silver in the same period of time, the percentage move is greater.

Anyone know if there is a Crash Smithfield Foods conspiracy floating around?

Tue, 04/19/2011 - 20:40 | Link to Comment sun tzu
sun tzu's picture

It's easier to invest in physical silver than physical lean hogs. 

Tue, 04/19/2011 - 20:57 | Link to Comment narapoiddyslexia
narapoiddyslexia's picture

Speaking of hogs, why aren't there any co-sponsors for this bill?

http://thomas.loc.gov/cgi-bin/query/z?c112:H.R.1098:

I thought there were some revolutionaries elected to this Congress.

Tue, 04/19/2011 - 21:35 | Link to Comment jeff montanye
jeff montanye's picture

the mistake we will make is selling too soon.

Tue, 04/19/2011 - 23:00 | Link to Comment Diogenes
Diogenes's picture

There is an old anecdote about one of the Rothschilds answering a question by a dinner companion, concerning investments. He said " I have a simple method that never fails. I never buy at the bottom, and I always sell too soon. I find as long as I do that, I cannot help making money".

Wed, 04/20/2011 - 05:29 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

Rodgers appears to miss two important items:

1.  The manipulation of silver by shorts.

2. China and India.

Wed, 04/20/2011 - 09:25 | Link to Comment 4xaddict
4xaddict's picture

yep, I'm sure Jim hasn't considered either of those issues............... sorry for the troll but seriously?

Wed, 04/20/2011 - 09:50 | Link to Comment FEDbuster
FEDbuster's picture

Jim Rodgers doesn't miss much.  I am sure he is aware of everything affecting the value of commodities (you don't become a multi-millionaire/billionaire? trading commodities because you're lucky).  He has seen many commodity cycles and knows this one is no different.  Remember he goes long and short and makes money both ways.  Jim is a VERY smart trader.

I always wonder how high a commodity can go above it's cost of production.  Gold is currently about three times the cost of production, silver is roughly five times it's cost of production.  Demand is driving prices higher, along with weak currencies and low interest rates. 

Real estate is now selling at a discount to actual construction costs in many areas (the lot has zero value), very light demand and historically low interest rates.  Real estate's negatives are that it must be maintained, it's not portable (like gold) and you become a target for the taxman.  Real estate has been a traditional hedge for inflation, and is now selling at a deep discount to production cost.  I sure would like to hear Jim Rodgers opinion on this subject.  Of course the exception is the price of farm land which continues to rise.

Thu, 04/21/2011 - 04:40 | Link to Comment Hephasteus
Hephasteus's picture

This is actually a reply to mark mcgoldrik.

Ya JP morgan is reporting larger incomes and big gains. So is intel and apple and bunch of other people. That's why silver war is winning. It's ballooning the liars out of their hidey holes.

Really RECORD profits during a downturn? Really. Nobody trusts JP Morgan and yet they keep making records.

It's taking thieves and ponzi scammers and turning up the water on them till they either jump out or boil.

It's just taking thier natural illegal tendencies and distoring the porporations of it till it becomes in your face obvious to more and more people. The super suspcious see it. The slightly suspicious people start seeing it, then the don't care either way then the total faith and trust crowd finally loses it.

Tue, 04/19/2011 - 21:45 | Link to Comment OldTrooper
OldTrooper's picture

Correct in all respects.  I have a hell of a time getting hogs to stay in my closet!

Tue, 04/19/2011 - 21:51 | Link to Comment nmewn
nmewn's picture

I've been known to offer my coins corn to fatten them up a bit...they won't even sniff it...so I suppose I should be glad for the coin I save on feed ;-)

Tue, 04/19/2011 - 21:59 | Link to Comment tiger7905
tiger7905's picture

The cost of storage and maintenance is much higher also, just sayin.

Wed, 04/20/2011 - 06:57 | Link to Comment DosZap
DosZap's picture

Which?, PM's or HOGS?.

Tue, 04/19/2011 - 20:57 | Link to Comment chinaguy
chinaguy's picture

Word; I make Nduja, Salami, proscitto, coppa etc. the price of good pork is through the roof.

Tue, 04/19/2011 - 21:09 | Link to Comment uraniuman
uraniuman's picture

None of my safes hold 10000 lean hogs

Tue, 04/19/2011 - 21:34 | Link to Comment AK338WM
AK338WM's picture

Hogs stink to high hell.  Trust me I know.

Tue, 04/19/2011 - 21:35 | Link to Comment fuu
fuu's picture

Yes.

Wed, 04/20/2011 - 02:35 | Link to Comment MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Why aren't people talking about hogs?

You can put lipstick on a hog but that doesn't mean JRR Tolkien is gonna write a book about it.

Wed, 04/20/2011 - 10:53 | Link to Comment flattrader
flattrader's picture

>>>Why aren't people talking about hogs?"

Because about 95% of the people who post here are talking pigs.

Swine who live in glass pig pens shouldn't throw stones.

And don't fuck with the price of BBQ.

Tue, 04/19/2011 - 21:34 | Link to Comment mark mchugh
mark mchugh's picture

Here's a list of companies that seemed to be humming along just fine in recent years:

Countrywide

Bear Stearns

Washington Mutual

Lehman

AIG

Citigroup

Wachovia

......JPM appears to be humming along just fine, don't they?

Tue, 04/19/2011 - 23:41 | Link to Comment Hulk
Hulk's picture

and they all passed stress tests Frankenstein!

Wed, 04/20/2011 - 01:56 | Link to Comment Hephasteus
Hephasteus's picture

They invented the stress tests.

Found the goldman stress test white papers and downloads on zdnet a few years back.

Tue, 04/19/2011 - 21:39 | Link to Comment Backspin
Backspin's picture

I hear you Mark McG.  I have a friend who used to be involved with a large commodity trading firm, and he told me that there is no way that the average Joe on the net knows what, if any, JPM's short position in silver might be.  He thinks it's all hype.

So all the people buying silver based on that, are doing the right thing (buying silver) but for the wrong reason.

I buy silver for two reasons:

1.  It's real money and they can't print it.

2.  It has industry demand and is being depleted.

Very simple.

 

Tue, 04/19/2011 - 22:18 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Yeah, listen to the PM douche McGoldrick.

Hype? Butler has only followed this topic for over 20 years and GATA over ten. Get up to speed.

Wed, 04/20/2011 - 07:59 | Link to Comment mspgrandi
mspgrandi's picture

perfect...

2 reasons simple...

 

I really dont see the point of making JPM collapse..Dimon owns hundreds millions of asset.. teh only person that will suffer from JPM collapse is joe the plumber (in addition we will all pick up the bailout bill)

Thu, 04/21/2011 - 23:55 | Link to Comment SILENCE DOOGOOD
SILENCE DOOGOOD's picture

  I agree with Jim Rogers.... We have something to worry about when Ag. makes  triple digits by the year end.... IF THE DOLLAR IS STILL ALIVE however, the dollar is currently falling as silver rises..... We can't continue to believe that China, India and every other nation has not come to realize that the comex  can't deliver and WILL DEFAULT..... They aren't the dumb backward nations we once thought they were.... I firmly believe that these nations, especially China is giving geitner, bernanke and the president enough rope to carry out the inevitable execution of the dollar..... If there is anyone out there who believes the dollar will survive SELL your PM's now and buy lean HOGS.... I see some are worried about having to bailout dimon's jp morgan bullion  bank... Not to worry.... dimon's bank can't be bailed out w/useless paper and debased coinage..... I respect Jim Rogers and I understand that he did not get where he is  by making mistakes ( his greatest financial decison was packing up, getting OUT of the U.S. before the shit hits the fan, moving to Singapore where all the power will soon be.......... If he thought the U.S. Economy / dollar would be around for much longer he never would have left so QUICKLY...... Who should we blame for this current mess? Obama? bush? Clinton? I say NO! I say Hell NO! The winner of the dumb fuck award goes to woodrow wilson for allowing the rothchilds to take control of Our Nation almost 100 years ago. Not unlike a tsunami beginning with a small wave thousands of miles away, is what we can compare woodrow wilson's sellout to the rothchilds central bank. His name should be wiped from history of the U.S. and placed in Websters Dictionary defining DUMBFUCK SELLOUT!!!!!!!!!!!!!!!!!!

                                                                    Silence Doogood

Wed, 04/20/2011 - 00:11 | Link to Comment mr66
mr66's picture

I agree.  the JP Morgue are a bunch of scumbags and would love to see them tank, but on a point and figure chart, there is no short squeeze over there as the px. has not shown a triple bottom breakdown

Wed, 04/20/2011 - 00:11 | Link to Comment mr66
mr66's picture

I agree.  the JP Morgue are a bunch of scumbags and would love to see them tank, but on a point and figure chart, there is no short squeeze over there as the px. has not shown a triple bottom breakdown

Tue, 04/19/2011 - 20:17 | Link to Comment bankrupt JPM bu...
bankrupt JPM buy silver's picture

Silver should already be $110 in infaltion adjusted terms.  This is rediculous.  Anyone accepting $50/oz for their physical is a complete fuckjob.

 

www.silvergoldsilver.blogspot.com

Tue, 04/19/2011 - 20:41 | Link to Comment sun tzu
sun tzu's picture

Spot is $47 so I would sell at $50 and buy back at $48

Wed, 04/20/2011 - 07:00 | Link to Comment DosZap
DosZap's picture

If your dealer is selling you at $47.00 spot, does it hurt when you sit?.

Since the Spot I see is just pushing $44.71.

Tue, 04/19/2011 - 21:20 | Link to Comment SparkyvonBellagio
SparkyvonBellagio's picture

There were 615 on this map  yesterday, now 698. Hang on, grab some railing. This might get busy in a hurry.

Also Nevada is in a quake storm which is 'odd' to say the least.

 

http://earthquake.usgs.gov/earthquakes/recenteqscanv/

 

Unless a Cascade Mega-Thruster hits before California's.

A Cascadian quake is much worse unless it all unzips together down to Mexico.

Tue, 04/19/2011 - 22:48 | Link to Comment bulldung
bulldung's picture

Interesting, looks like small quakes happen all the time; guess you need to know the delta to make anything of it.

Tue, 04/19/2011 - 20:53 | Link to Comment PY-129-20
PY-129-20's picture

No wonder. The fiat money is dying everywhere on the planet - but isn't it ironic that a country named ARGENT-INA is facing hyperinflation...

http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/04/07/benzinga9877...

Wed, 04/20/2011 - 07:04 | Link to Comment DosZap
DosZap's picture

Talk about a screwed up political system...sheesh, they make us look good.

Tue, 04/19/2011 - 19:41 | Link to Comment dlmaniac
dlmaniac's picture

Somewhere around 50/oz it should correct, and that's about the time Fed will (pretend to) end their lavish credits injection plan.

Tue, 04/19/2011 - 21:54 | Link to Comment SRSrocco
SRSrocco's picture

Silver has been held down for over 4 decades.  Take a look at the 10 year averages of silver and gold over the past 40 years:

 

SILVER 1971-1980 = $6.80 avg. price

SILVER 1981-1990 = $6.85 avg. price

SILVER 1991-2000 = $4.88 avg. price

SILVER 2001-2010 =$10.25 avg. price

 

GOLD 1971-1980 = $190.15 avg. price

GOLD 1981-1990 = $395.38 avg. price

GOLD 1991-2000 = $340.48 avg. price

GOLD 2001-2010 = $616.53 avg. price

 

------------------------------------

During the 1970-80 period the average decade price of silver was $6.80.  The next decade it was only 5 cents more at $6.85.  Gold on the other hand had a decade average price of $190.15 from 1979-1980 , but more than doubled to $395.38 the following decade. 

If we compare both metals, we find that silver went up from $6.80 to $10.25, or 50.7% in 4 decades, whereas gold went from $190.15 to $616.53, or 228% in the same time period.  This is why we are finally witnessing the parabolic move in silver.

SILVER...THE NON BUBBLE

Many analysts are saying that silver is in a parabolic speculative bubble.  If we look at Silver Eagle Sales over the past 10 years we find that demand has picked up recently, but it is not in a bubble:

SILVER EAGLE SALES

2001 = 8,827,500
2002 = 10,475,000
2003 = 9,153,500
2004 = 9,617,000
2005 = 8,405,000
2006 = 10,021,000
2007 = 9,887,000
2008 = 19,583,000
2009 = 28,766,500
2010 = 34,662,500
2011 = 14,508,500 (April)

Already we see 14.5 million silver eagle sales in 2011.  If sales continue there should be over 40 million sales this year.  There are 307 million people in the United States.  Not all silver eagles are sold to just Americans but if they were and if we stated that only half or 160 million would be able to buy silver eagles, that is ONE LOUSY SILVER EAGLE for every 4 people.

This does not seem like a bubble.  Back in 1999 when Tech stocks were the big thing, grandmothers got together to discuss what stocks to buy.  Less than 1% of Americans hold silver as an investment.

To those ANAL-ISTS who think silver is in a bubble, you may need to get your head examined.  Silver has been kept artificially low for decades and is now finally showing its true SHINNY COLOR.

Tue, 04/19/2011 - 22:24 | Link to Comment Squid-puppets a...
Squid-puppets a-go-go's picture

+1

"parabolic moves always collapse"

does that hold true when something has been artificially parabolically suppressed for many years

Wed, 04/20/2011 - 02:11 | Link to Comment Hephasteus
Hephasteus's picture

Parabolic moves always collapse. But if you look at a silver chart. It's showing a 45 degree bull market grind. The only strange thing about it is that it's not backstepping. It's a nearly perfect relentless grind. It's got a strange overpower inevitability behind it.

Tue, 04/19/2011 - 22:24 | Link to Comment Squid-puppets a...
Squid-puppets a-go-go's picture

dbl post

Wed, 04/20/2011 - 07:08 | Link to Comment DosZap
DosZap's picture

The private mint coins sold, and bars, make the US Mint look like a weak sister.

Multiply those Eagle #'s, times about 10,000 and you may be close.And that's just the US.

The Pac Rims, cannot get enough, here there is no real shortage to individual buyers.

But we are (goody) back in backwardation again.

Tue, 04/19/2011 - 20:05 | Link to Comment KTV Escort
KTV Escort's picture

should gold grind on up to $1650 per oz and silver attain the proverbial GSR of 16:1 that would put silver at $103... triple digits, yet not an issue IMO ~ I see it plateau at that point, not collapse, or slowly move higher from there

Tue, 04/19/2011 - 20:13 | Link to Comment KTV Escort
KTV Escort's picture

silver is, after all, the superman of metals, with growing industrial uses...

Silver has the highest electrical and thermal conductivity of all metals. Every computer, server, monitor, cell phone and switch must have silver. Lasers, satellites, solar panels, high-tech weaponry (tomahawk cruise missiles use 500 oz) and robotics, all require silver. Digital technology and telecommunications need silver. There's silver in every TV, washing machine, wall switch and refrigerator. Conductors, switches, contacts and fuses use silver because it does not corrode or cause overheating and fires. Silver is used heavily in photography and in prints. Batteries are now manufactured with silver alloys. Lead-free silver solder is used heavily for joining materials and producing leak-tight joints. Silver is also widely used in silk-screened circuit paths, membrane switches, electrically heated automobile windows, and adhesives.

Silver achieves the most brilliant polish of any metal and has the highest reflectivity of light of all the metals, allowing it to be used in mirrors and in coatings for glass, cellophane or metals. Double layers of silver on glass reflects away 95% of the hot rays of the sun. Silver has a variety of uses in pharmaceuticals as silver kills bacteria. Hospitals use silver coated devices in surgery to eliminate contamination and infection. Skin care products now use colloidal silver as it has been found to be a healing agent and disinfectant. Silver sulfadiazine is the most powerful compound for burn treatment. Catheters impregnated with silver eliminate bacteria. Silver is increasingly being tapped for water purification, silver ions used in pools and spas. To prevent growth of germs and fungus on surfaces silver ions are used in paints and coatings.

Plus, the unique properties of silver restrict its substitution in most applications.

 

Tue, 04/19/2011 - 20:27 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

FOFOA (fofoa.blogspot.com) makes the case (and old English economists he quotes) that hoarding of materials needed by industry has a moral component to it, namely that hoarding food, silver, copper, etc. helps to create shortages and drives up prices.

Gold is apparently the only exception.  Hoard all you want, "industry" is not hurt.

FOFOA's eloquence and logic are far better than mine.

Tue, 04/19/2011 - 21:06 | Link to Comment Shell Game
Shell Game's picture

I have enjoyed that blog (and Another's Thoughts) immensely, in fact, it convinced me to 'follow in the footsteps of giants'.

Tue, 04/19/2011 - 22:05 | Link to Comment tiger7905
tiger7905's picture

Richard Russell is actually thinking the US might encourage gold purchases like Asia. I think he's getting old, just don't see it happening.

http://goldandsilverlinings.com/?p=730

Wed, 04/20/2011 - 01:25 | Link to Comment Shell Game
Shell Game's picture

No way that's happening here. Sad, really...

Tue, 04/19/2011 - 21:26 | Link to Comment Saucy-Jack
Saucy-Jack's picture

Hoarding does drive up prices, but the manipulation to keep prices low misallocates resources so that hoarding is required to bring the market back into balance. And hoarding typically does not happen if the commodity price is through supply and demand discovery rather than paper manipulation. It is the manipulation of prices that create the shortages that fuel the hoarding.

FOFOA does make the best argument for why only gold should be used as the storer of value function of money. Silver is too important industrially to serve that function, even though it could and does to some extent.

The manipulation must stop to restore balance to the market and Jim Rogers does not touch the manipulation element of the precious metals markets. So in that respect, silver to $200 makes total sense and would not be a parabolic move that would have to crash, but rather that would be the fair market price for a commodity that would be stable since true supply and demand are dictating price.

Wed, 04/20/2011 - 07:14 | Link to Comment DosZap
DosZap's picture

WHO caused the hoarding to begin with?.

Yep, the same Morgue, and it's worked forever until the WORLD took notice.( they can control the US Mkt, but not the world.)

Now their damned if they do and damned if they don't. So HOARD away folks.

About time some regular Joes n Janes got a piece of their pie.

The PIGS.

Tue, 04/19/2011 - 21:42 | Link to Comment Backspin
Backspin's picture

Hoarding may drive up the price.  Then the high price will motivate more mining and refining, bringing more supply to the market.  Self-correcting.

Tue, 04/19/2011 - 21:52 | Link to Comment OldTrooper
OldTrooper's picture

So hoarding is sinful - but saving is virtuous.  I guess I'm a saver then.

Tue, 04/19/2011 - 21:56 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Replying to myself and above kind comments, I should mention that I just heard from the man himself (FOFOA).

He clarified an important point that I missed about hoarding industrial related commodities.  It is not morality per se, it is that by hoarding materials usefil to industry we contribute to inflation, and that it lowers our ultimate profit (I guess unless you are very smart, recall that Bearings only have a hole where a brain would normally be) as opposed to holding gold.  Gold will bring more PROFIT.  It's all about the profit!  (remaking one of his statements: It's all about the ounces!)

 

Wed, 04/20/2011 - 02:06 | Link to Comment Hook Line and S...
Hook Line and Sphincter's picture

O.K., I was under the impression that FOFOA was one who defined inflation not as increased prices in said commodity, etc, (which is more a symptom), but rather its inherent cause which is expansion of money supply. In other words, hoarding useful industrial materials might or can contribute to relative price increases - not will. Yes, there is a higher probability that the sloshing money will end up there, but  this is not etched in Kevlar. If the global elite are effectively organized beyond our confined imaginations, they could put a stop to this rise by 'force majeure', reboot the new and improved ponzi/cyclical usury mechanism ad infinitum.

Who is to say what portion of any nominal gain or real gain actually are when the metrics and the very system and powers to install a new system behind the change are contaminated with manipulation, worldwide observed/controlled transactions, and a masterfully ignorant populace supporting their masters objectives? For the most we know, there's immensely more PHYS AU in their booty that could be dumped strategically on the 'market'. Gold can only bring more 'profit' (it's difficult for that word to be associated with Gold for me) when the Ag and Au manipulation has ceased in unison, and true price discovery for all industrial commodities are found. My guess for that date... 

Wed, 04/20/2011 - 02:37 | Link to Comment Seer
Seer's picture

But... civilization itself is in a bubble.  2/3 of the world's population lives on $3/day or less AND most of the "first world's" middle class is being decimated: and if you think China is going to pull the world along to years of bubble growth guess again.

Yeah, silver _could_ be used for these things; but, who is going to purchase those products?

Someday people will get my point about "reverse economies of scale."  We'll be in a contractionary period for a LONG time (I'd argue it that it will never break to the upside again).  iPod MMXII, or health care, hm... demographics and resource depletion are pretty much working in tandem.

Tue, 04/19/2011 - 22:31 | Link to Comment walcott
walcott's picture

Hell yes silver bitchez!!

Tue, 04/19/2011 - 18:49 | Link to Comment NOTW777
NOTW777's picture

all those parents paying tuition so the university can buy gold - yes, our world makes perfect sense

Tue, 04/19/2011 - 18:57 | Link to Comment I am Jobe
I am Jobe's picture

F the education. Its over. No jobs and piling on debt is not the solution. O yeah MCD is hiring 50K people in the USA. Wow, this could pull the econ out of this shitz.

Tue, 04/19/2011 - 19:15 | Link to Comment Long-John-Silver
Long-John-Silver's picture

I remember the Bush bashing MSM screaming about him producing only minimum wage jobs. This bunch of idiots celebrate Obama producing the very same minimum wage jobs.

Tue, 04/19/2011 - 19:53 | Link to Comment Infinite QE
Infinite QE's picture

No, actually they are micro-wage jobs. Inflation, you know.

Tue, 04/19/2011 - 20:52 | Link to Comment Vendetta
Vendetta's picture

both presidents have been very damaging to the US.  Clinton signed off the legislation from a republican congress that set the stage for the past 10 years ... all bad

Tue, 04/19/2011 - 21:17 | Link to Comment Twindrives
Twindrives's picture

What the hell ever.   Barry Obama is the worst president.  Just a ass kissing banker loving S.O.B.   He makes peanut brain Jimmy Carter look like a genius.   And stop bitching about Bush, he's now doing what he does best, shoveling horse shit in a Texas barn.    

Tue, 04/19/2011 - 22:13 | Link to Comment TruthInSunshine
TruthInSunshine's picture

I am so sick with the left-right, Republican-Democrat bullshit.

WTF...

It's all a mirage. Obama=W=Clinton=BushI=etc. etc.

They all work for the same people. Barney Frank & Chris Dodd work(ed) for the same people as Richard Shelby & Orrin Hatch.

 

Wake TF Up.

Wed, 04/20/2011 - 02:44 | Link to Comment Seer
Seer's picture

Hi Truth, I say forget trying to educated these idiots, we need our energy for ourselves.  Let Darwin take care of them: it's this mindset that's gotten us here; time to allow it to be weeded out.

Wed, 04/20/2011 - 10:21 | Link to Comment Zedge Hero
Zedge Hero's picture

Every time I see someone say anything negative about either party I realize they themselves are stuck in the cow pie.  For to laugh at both and understand the blurry is to be truly free.  I know immediately to dismiss anyone who talks such BS and the I always shock them when I say you do realize they play you as a bitch and for you to talk about either is you falling for idiocracy like a dumb blond bitch.  It upsets most when I tell them, but most give me the same look when I ask "do you still take federal reserve notes?" A sheep caught in the headlights look or a chicken caught in a tractor nuts which is my favorite blazing saddle quote and makes no sense at all.

Wed, 04/20/2011 - 10:25 | Link to Comment Zedge Hero
Zedge Hero's picture

Pete and Repeat?

Wed, 04/20/2011 - 10:22 | Link to Comment Zedge Hero
Zedge Hero's picture

Repeat WTF?

Wed, 04/20/2011 - 10:23 | Link to Comment Zedge Hero
Zedge Hero's picture

Repeat

Wed, 04/20/2011 - 00:21 | Link to Comment Teamtc321
Teamtc321's picture

And while shoveling the horse shit, chanting, "How you like me now?"

 

While Obama is chanting, Hope, Hope and Change!!

Tue, 04/19/2011 - 19:20 | Link to Comment dwdollar
dwdollar's picture

Education will be the first sacrifice on the alter of austerity.  It no longer has the broad based support that defense and health-care enjoy.  Wisconsin is just the first example.  I'd wager 1/5 of people under 35 have actually benefited from their "higher" education and they know it.

Tue, 04/19/2011 - 20:44 | Link to Comment sun tzu
sun tzu's picture

What do teacher pensions have to do with the qualisty of education? Finland and Japan educate their students for half the cost per student of the US. Their students actually learn how to read and do math.

Tue, 04/19/2011 - 20:52 | Link to Comment TradingTroll
TradingTroll's picture

Here in Vancouver we apparently have some of the best public schools in Canada, though the Dstrict is broke. Yet my daughter has gone to Japan on an exchange program two years in a row and in Grade 2 in Canada the math is addition/subtraction only and she gets to Japan and they're also doing multiplication. Thats Grade 4 in Canada. In Grade 3 in Japan they do divison, thats Grade 4 in Canada.

 

We're so screwed. Then again if your military industrial complex is run by morons who put reactors on fault lines, pretty soon it wont matter the Japanese are ahead because we can all glow our way through life

 

Wed, 04/20/2011 - 01:31 | Link to Comment StychoKiller
StychoKiller's picture

The purpose of a system is what it DOES (not what they say it does!):

Check out: "Some Lessons from the Underground History of American Education"  by John Taylor Gatto, found in "Everything You Know is Wrong", ISBN 978-1-56731-637-7, pgs 274-287

 

Tue, 04/19/2011 - 19:23 | Link to Comment SilverRhino
SilverRhino's picture

Amen to that. Books, self-discipline and learning for almost free beat the crap out of debt based paper mills.  

100K in debt may make sense for a house, not a piece of lambskin.

Tue, 04/19/2011 - 20:49 | Link to Comment defender
defender's picture

Yes, but how will those brain dead zombies that people call mid-level managers know who to hire without those little sheets of paper?  You aren't actually saying that they should think, are you?  Do you know what happened the last time one of them started to think?  ...to be honest, I don't either...

Tue, 04/19/2011 - 21:46 | Link to Comment Backspin
Backspin's picture

Right on, Rhino.  As more and more people realize that, hopefully market forces will correct some of the waste and mismanagement in the higher education racket.

Tue, 04/19/2011 - 19:13 | Link to Comment AldousHuxley
AldousHuxley's picture

Universities are just federally subsidized hedge funds running as non-profit. Education is just a front to qualify for non-profit statue. It is also the next big bubble to burst. Have you seen the top donors to the democratic party?

 

 

 

Tue, 04/19/2011 - 19:36 | Link to Comment Paul Krugman
Paul Krugman's picture

The problem with what he is saying is that how do you know if the dollar is collapsing if you are only measuring it against other collapsing currencies. I would argue that if silver goes parabolic against the dollar and all other currencies but the move is confirmed by many other commodities then the dollar is collapsing. You just won't be able to tell by measuring the dollar versus other currencies. 

Tue, 04/19/2011 - 20:07 | Link to Comment Smu the Wonderhorse
Smu the Wonderhorse's picture

I think the measure is real purchasing power.  If we continue to see inflation blossoming, then the sharp uplegs in the metals make sense; if not, we're in bubble land.

Tue, 04/19/2011 - 21:53 | Link to Comment SilverRhino
SilverRhino's picture

Watch rice, corn and wheat as your purchasing power barometers.  ALL of them will be going up.

Wed, 04/20/2011 - 01:35 | Link to Comment StychoKiller
StychoKiller's picture

I can't believe I'm reading a conversation betwixt a horse and a rhino re:  commodities!  LOL!

Tue, 04/19/2011 - 21:39 | Link to Comment nmewn
nmewn's picture

"I would argue that if silver goes parabolic against the dollar and all other currencies but the move is confirmed by many other commodities then the dollar is collapsing."

Ah yes, the age old paper/debt fiat question...is the stuff I buy going up or is what I offer for the stuff going down requiring more of it to get my stuff?

I have always taken the position that what I offer for the stuff is going down...that is, my fiat currency has less value because of it's nature...so less purchasing power.

In 1963 quarter terms, I can still get a gallon of gas with it...and a coke...and a candy bar...it's like deja vu all over again...all the PHD's (stands for Piled High & Deep...LOL) have never been able to stop this simple truth of money ;-)

Tue, 04/19/2011 - 22:51 | Link to Comment sellstop
sellstop's picture

Unless I cut back on my needs and desires. Then my money goes farther.

The next slowdown will make that evident. When demand destruction takes hold, the economy will slow and the price of what we used will decline.

gh

Wed, 04/20/2011 - 02:21 | Link to Comment Hook Line and S...
Hook Line and Sphincter's picture

An uncomfortable thought...

...and what if Ag is more plentiful than we thought? or the uses of such industrial become out of favor because of a global economy gone flat?

or, the iron fist who controls the in-development human servant grid decides you can no longer be your own central bank?

Have we led ourselves to after discovering the real vs notional paradigm into ignoring the force variable?

The more I entertain the darkest part of myself, allowing the projected creativity to wander along with science gone astray, the more I'm sure we are in for quite a distasteful treat.

 

Wed, 04/20/2011 - 07:14 | Link to Comment nmewn
nmewn's picture

"Have we led ourselves to after discovering the real vs notional paradigm into ignoring the force variable?

The more I entertain the darkest part of myself, allowing the projected creativity to wander along with science gone astray, the more I'm sure we are in for quite a distasteful treat."

Theories are interesting and always debatable, but I believe we must go with what we know in the here & now. 

Alchemists once thought they could turn lead into gold, as we move along through time & space we have disproven (scientifically) that that is even possible. The only thing that was lost in that ancient endeavor was fiat & time.

As for an outside force intervening...yes, they could always do that. But it doesn't make what they offer as a substitute any more valuable...on the contrary in my view, it makes PM's even more valuable by adding to it's scarcity. They hold them as well so they would have to dump them as well wouldn't they, afterall they would be illegal.

Perhaps a vast natural find could happen...being a consumate skeptic, I would view it with deep suspicion and exchange paper into it with both hands...we know it's in seawater but costs of extraction make it unviable in fiat terms.

We all have our deepest darkest thoughts...mine has always been they will convince the masses that debt, deficits and common accounting practices don't matter when applied to government...they only matter to lesser things, the people...if we ever reach this point...we will be slaves for they have now introduced the concept that your labor is free to them, to extract for their purposes, not your own.

I will gladly die with a smile on my face knowing they can never take what is not theirs to take, for they can never hold it eternally, they know this too, they count on submission, which I don't do very well ;-)

Tue, 04/19/2011 - 22:01 | Link to Comment OldTrooper
OldTrooper's picture

how do you know if the dollar is collapsing

I find it ironic that you, of all people, are asking that Dr. Krugman.

Tue, 04/19/2011 - 19:41 | Link to Comment NOTW777
NOTW777's picture

I pity parents who are in that cycle now where their kids look to them for financial aid for college and the colleges take advantage.  I guess it makes sense that universities are buying gold - they know first hand about inflation as they jack up their outrageous tuition fees year after year

Wed, 04/20/2011 - 01:40 | Link to Comment StychoKiller
StychoKiller's picture

Apparently, tuition fees aren't cuttin' it as the wife and I have been seeing the answering machine pick up phone calls from our Daughter's alma mater...

Wed, 04/20/2011 - 02:55 | Link to Comment Seer
Seer's picture

Education was hijacked by big business a long time ago.  It's no more than a business now, and just like the financial sector (kind of hard to tell them apart?), it too will crash and burn.

It's all now a mad dash to grab the chairs before the music stops.  Sad part is that all we know is the music, and once it stops we won't have a reason for the chairs...

Wed, 04/20/2011 - 07:18 | Link to Comment DosZap
DosZap's picture

I would wager you the vast majority of that money came from Alums.

Over a hundred years it tends to compound.

Tue, 04/19/2011 - 18:49 | Link to Comment tmosley
tmosley's picture

I agree, Jim.

Tue, 04/19/2011 - 19:11 | Link to Comment Doña K
Doña K's picture

Jim is my hubby's idol. He told me that Jim gave him his first big hit about Citi going under. That's when my hubby took me to Bali for a week. I don't know which city he was talking about, but I know that my hubby knows a lot.  

Tue, 04/19/2011 - 19:49 | Link to Comment MrPalladium
MrPalladium's picture

The way I see it, you don't need to know which Citi he is talking about!! ;-)

After all, you have been to Bali for a week which tops 90% of the posters on this board.

Tue, 04/19/2011 - 20:31 | Link to Comment GeorgeHayduke
GeorgeHayduke's picture

LOL! Good one. Someone just had to junk you for that one because the harsh truth is painful.

Tue, 04/19/2011 - 21:16 | Link to Comment disabledvet
disabledvet's picture

HAYDUKE LIVES!

Tue, 04/19/2011 - 20:56 | Link to Comment TradingTroll
TradingTroll's picture

Bali... I hear it is close to Singapore which is close to Hong Kong. Now how much do you think the taxi costs from Hong Kong to Bali? Or is it better to get a taxi from Singapore. I was thinking Singapore since Hong Kong sounds so far, being its the capital of Tokyo. I went to Oceania once. Oakland...New Zealand is a fine place with an OK football team. The soccer ball was brown though.

Tue, 04/19/2011 - 21:04 | Link to Comment chinaguy
chinaguy's picture

Wife & I are leaving (in 10 hours) for Thailand, Bali, Vietnam & back to Thailand...eating in all the best local's restaurants...for five weeks...we speak the lingo...enjoy wage slaves....enjoy!

Tue, 04/19/2011 - 21:15 | Link to Comment disabledvet
disabledvet's picture

kap khum kap to you too mo fo.

Tue, 04/19/2011 - 22:04 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Lucky you, chinaguy.  Have a great trip!

Tue, 04/19/2011 - 19:18 | Link to Comment Pladizow
Pladizow's picture

To: tmosely,

I dont think he's reading your posts!

By the way, what is your avatar, a colonoskopy POV?

Tue, 04/19/2011 - 20:50 | Link to Comment Votewithabullet
Votewithabullet's picture

I think its your mummys mouth mate.

Tue, 04/19/2011 - 20:53 | Link to Comment Glass Steagall
Glass Steagall's picture

Thank you, Pladildo. Excellent trolling.

Tue, 04/19/2011 - 22:25 | Link to Comment tmosley
tmosley's picture

You would be surprised.  I doubt ANY major economics commentator fails to read ZH.  I wouldn't be surprised if some of them posted under pseudonyms.

Funny that a homunculus such as yourself wouldn't be able to recognize his own kind.  Maybe you are just blinded by all the GLUU in your eyes.  Here is a larger image: http://i45.tinypic.com/2hmokdi.jpg

Wed, 04/20/2011 - 10:01 | Link to Comment Jack Sheet
Jack Sheet's picture

it's original, like it, but an orifice however you look at it (no offense !)

Tue, 04/19/2011 - 18:50 | Link to Comment gordengeko
gordengeko's picture

Fiat shit paper confetti bitchez!

Tue, 04/19/2011 - 20:51 | Link to Comment Votewithabullet
Votewithabullet's picture

You can say "fetzen" Russka, I know your dying too  you fucking slippery cossack scum.

Tue, 04/19/2011 - 21:10 | Link to Comment gordengeko
gordengeko's picture

uh ouch?

Wed, 04/20/2011 - 03:09 | Link to Comment Votewithabullet
Votewithabullet's picture

My bad, I misread your name as some form of russian. I fucking hate russians. My bad though. Greed is good.

Wed, 04/20/2011 - 06:59 | Link to Comment gordengeko
gordengeko's picture

No Prob, I've been called many things but that was a first.lol

Tue, 04/19/2011 - 18:50 | Link to Comment Tracerfan
Tracerfan's picture

Jimmy knows his stuff.

Tue, 04/19/2011 - 18:53 | Link to Comment disabledvet
disabledvet's picture

you mean "they should [encourage Chairsatan] before they shouldn't."  Kind of like "i was for the war before I was against it" kinda thing....

Tue, 04/19/2011 - 18:56 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

What's always not spoken of is all the economic damage that will be done to you and me if the dollar collapses. We are all hostage to a dollar economy. Will all that damage be mitigated by my silver and gold holdings?

While I certainly understand that to love my abuser simply because he or she has me by the balls is the ultimate self deception and it's something I endlessly discuss we must begin to talk about how the end game will affect everyone..........in particular those around us who are not preparing. We do not live in a vacuum.

Tue, 04/19/2011 - 19:05 | Link to Comment Landrew
Landrew's picture

CD, as always interesting comments. I would really like to hear your thoughts about this  developing extreme slave mentality. Why workers hate workers instead of their 1% masters? Thanks for your comments. 

Tue, 04/19/2011 - 19:19 | Link to Comment Spastica Rex
Spastica Rex's picture

I'm no CD, but I think the workers hate the workers because the 1% has convinced them that hating other workers is the way they will become part of the 1%. Love the rich, else you'll never get to be one. Just Do It. I wanna be like Mike. Etc.

Tue, 04/19/2011 - 19:30 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Sounds like you are a CD. Spot on.

The basis for the Stockholm Syndrome, the essence for the role transformation of the abused hostage, is to embrace that which is most frightening under the belief that if you can become that which is trying to destroy you it will no longer have a reason to destroy you.

Like a chameleon that changes color to blend in with the background, by adopting the oppressive and predatory techniques of your tormentor, you are signalling "Hey, I'm just like you so don't hurt me." It is what a slave does in order to survive. Every slave wishes to be promoted to the boss of his fellow slaves in order to enjoy the better living conditions as well as to escape the whip.

We all show these tendencies when around an abusive boss or other domineering authority. We desire to get on their good side in order to be spared the rod. Our entire social bearing is based upon fealty to higher authorities and it shows in our idol worship and fawning attention to celebrity and powerful leaders.

Those who have looked within and seen that this is an integral characteristic of all human behaviour are less likely to be influenced by this tendency while those who are in denial of this or complete strangers with who and what they are are quite malleable to this influence.

Tue, 04/19/2011 - 19:53 | Link to Comment XPolemic
XPolemic's picture

Our entire social bearing is based upon fealty to higher authorities and it shows in our idol worship and fawning attention to celebrity and powerful leaders.

Actually, it's standard mammallian behaviour. Bow your head to the Alpha male, fight the beta males for your place in the pecking order.

If you can transcend your mammallian instincts, and become truly human, you will realise that it is all nonsense anyway.


Tue, 04/19/2011 - 20:34 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

The top 1% have made it plain that the lower 99% won't be getting anything from them.  So the lower 99% is left to fight amongst themselves for shrinking resources while the 1% amuse themselves by watching.

Wed, 04/20/2011 - 02:13 | Link to Comment UGrev
UGrev's picture

When the lower 99% become quiet in the background.. that's when the top 1% start to sweat. 

Tue, 04/19/2011 - 20:03 | Link to Comment Landrew
Landrew's picture

Thanks, lot's to think about there. Do you see us as a society becoming more slave like or fighting this natural tendencies? While the rest of the world seems to be throwing the yoke of slavery off, we seem to be embracing and revering the yoke of slavery?

Tue, 04/19/2011 - 20:14 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Lots of assumptions hidden within your questions.

First off I don't see the rest of the world throwing off their slavery, just trading one form for another that appears (on the surface) to be more desirable. And we aren't embracing slavery as much as flowing down Maslow's hierarchy of needs pyramid, thus also trading one form of slavery for another.

Tue, 04/19/2011 - 20:49 | Link to Comment Landrew
Landrew's picture

Thanks, your points well taken. I would guess your proof would be yet again riots in Egypt.

I seem to be on the inverted pyramid path.

Tue, 04/19/2011 - 23:09 | Link to Comment Doña K
Doña K's picture

Where are the toys? Sailboats, boxters?

Tue, 04/19/2011 - 20:51 | Link to Comment Hephasteus
Hephasteus's picture

Your top rung is wrong.

Immorality, enslaving people to be creative for you, arbitrary meaninglessness as a way of mind fucking people, getting people to solve your problems, lack of prejudice anyone can be my slave, forcing people to accept the factst that they are your slave and you won't change.

Wed, 04/20/2011 - 03:23 | Link to Comment ZeroPower
ZeroPower's picture

Heph, its not "his" rung.

Have you never seen this before?

Wed, 04/20/2011 - 10:14 | Link to Comment Hephasteus
Hephasteus's picture

Of course I've seen it.

I was just pointing out the lies behind it. The self actualization is not actually a component of self. It's a component of other.

Aries -self, Libra- other ego

Taurus- self, scorpio - other resources money emotions.

cancer - self, capricorn - other need identification, nurturing

leo - self, aquarius - other ego expression, group reaction to ego expression

virgo - self, pisces - other perfecting forces. discriminated barriers, undiscriminated lack of barriers.

Self, family self, job function self, state and local community self, country self, etc etc

All the illusory versions of self. So what the fuck is actually being actualized. A concrete real version of self. Or some illusory version of self. That's how the top row operates. Set up illusory self, country, god, company etc and try to express it but when things get tough or rocky the concrete versions of self come crashing back in.

 

Tue, 04/19/2011 - 21:18 | Link to Comment High Plains Drifter
High Plains Drifter's picture

i guess i never thought about it much but it was nice of him to make that shape a pyramid, wasn't it? 

Tue, 04/19/2011 - 21:28 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Actually I don't think Maslow himself organized the hierarchy as a visual pyramid. I think it was done by others to show in visual form the decreasing number of people who embody each higher level.

Maslow's hierarchy of needs is often portrayed in the shape of a pyramid, with the largest and most fundamental levels of needs at the bottom, and the need for self-actualization at the top.[

 

http://en.wikipedia.org/wiki/Maslow's_hierarchy_of_needs

Wed, 04/20/2011 - 00:03 | Link to Comment Slim
Slim's picture

Conan's pyramid: To crush your enemies, see them driven before you, and to hear the lamentation of their women.

Wed, 04/20/2011 - 01:31 | Link to Comment IQ 101
IQ 101's picture

Damn! I aint got none of that but the Sex and Water.

Wed, 04/20/2011 - 03:13 | Link to Comment Don Keot
Don Keot's picture

I think I got it.  You become more and more refined until you get to the very top and you can be like uh that TV show and reach near Vanna.

Wed, 04/20/2011 - 03:12 | Link to Comment Seer
Seer's picture

Got to serve someone...  I think those were some Dylan lyrics... anyway...

Eventually we'll be going tribal.  Look to all of history for the average.  And look to nature, for nature works in the real world (not the virtual, which, eventually, will fall to the physical).  Tight co-dependencies within a tribe; everyone is serving each other.

Regarding why the 99% pick on each other rather than the 1%, the mechanism (which would make Bernays proud) is to claim that picking on the 1% would be endorsing collectivism.  Well... I guess that that's right, BUT, it's "collectivism" in more of the conventional tribal sense (not the Marxist one).

I'd hope that people recognize this not as an endorsement of anything, but a statement of how I see things playing out (I've got no investment in either game- I'm an anarchist).

Tue, 04/19/2011 - 20:51 | Link to Comment Clay Hill
Clay Hill's picture

"Those who have looked within and seen that this is an integral characteristic of all human behaviour are less likely to be influenced by this tendency while those who are in denial of this or complete strangers with who and what they are are quite malleable to this influence."

 

Excellent stuff.

Sadly, modern Western culture does not encourage this sort of examination of Self. Seems to me very, very few are willing to contemplate their own mortality, or more especially the demise of the status quo, that being one sure path to many revelations / revaluations.

The short answer to the question you posed in your earlier post is that misery loves company. That too is an integral part of our psychological make-up.

A century's worth of wrong headed attempts to use the power of the secular Govt. to cushion the "slings and arrows" we all face daily are IMHO now coming to their logical conclusion. Those not fortunate enough to see the pattern and prepare accordingly will do everything they can to continue plodding along that well worn path to slavery, and their fellows be damned.

I propose that those who see it coming and are willing to prepare, return the favor.

Let the dead bury their own.

 

 

 

 

 

 

Tue, 04/19/2011 - 23:32 | Link to Comment MilleniumJane
MilleniumJane's picture

"Sadly, modern Western culture does not encourage this sort of examination of Self."

 

I think that's spot on.  It made me think of an interesting book by Marti Laney called The Introvert Advantage.  It's one of those pop-psychology books that simplifies the explanation of introversion for mass appeal but she had some interesting ideas about the value of introverts in modern Western culture.  She posits that introverts usually held key advisory positions in traditional cultures (counselor to the king/chief, shaman, teacher) which helped to bring homeostasis and stability to society.  I tend to agree that our society has vastly overemphasized the value of extroverted characteristics to such a degree that we have lost sense of the worth of reflection and meditation before action.  We have driven ourselves into a frenzy, always keeping busy start one thing jump to another no pause always keep the conversation going even if it's just shallow bullshit...  If the collective "we" are that sick, then wouldn't that mean that people who exhibit the extremes of these traits would attain positions of power?  Hence our sociopathic leaders.  Cognitive Dissonance has thoroughly and more skillfully written about this subject and its complexities than I in my little comment but I think it bears repeating.  Change begins first within ourselves.  

Wed, 04/20/2011 - 04:24 | Link to Comment Clay Hill
Clay Hill's picture

Yes, Jane I think the collective "we" in its current form is beyond repair.

After fully embracing the implications of this, my focus became getting mylittle group through the "reset" intact. PM's will have an important role to play in that.

Passing along that indomitable belief in "self" with all the attendant rights  and responsibilities is the best I can do for kith and kin until the rebuild begins.

Tue, 04/19/2011 - 20:33 | Link to Comment GeorgeHayduke
GeorgeHayduke's picture

+100

Tue, 04/19/2011 - 19:12 | Link to Comment gordengeko
gordengeko's picture

+33 

It's a mentality that unfortunately will not be broken until said event occurs.  The only thing I try to do is educate those that want to listen and help those that are close to me.  The truth hurts and people aren't to willing to wake up and find out their life is a lie.  I've been talking about this since 2007 to deaf ears, now they listen and joke with me by calling me nostradamus.  Everything is out in the open in plain sight and their plans aren't secret.  Actually they are very arrogant and it's extremely evident in their murals, symbols and corporate logos.  It's scary when you can see just how many are "in" on this.

Tue, 04/19/2011 - 19:13 | Link to Comment Doña K
Doña K's picture

My hubby told me that there is no end game. The game is continuous. You have to make sure you have enough to stay in the game and most importantly to have as much fun as possible. Sometimes I think that my hubby knows everything. 

Tue, 04/19/2011 - 19:21 | Link to Comment Doña K
Doña K's picture

Oh wait! He just called me. He said that the dollar will actually get stronger and we should stay at 35% PM's and 55% dollar in cash. The rest 10% to speculate in.... Oops the line went dead.  

Wed, 04/20/2011 - 09:55 | Link to Comment bigdumbnugly
bigdumbnugly's picture

he can't be that smart, dona.

you're still married aren't you?

 

 

Tue, 04/19/2011 - 19:22 | Link to Comment bob_dabolina
bob_dabolina's picture

I know some Lehman/Enron shareholders that would most certainly disagree with your husband.

Their investments most certainly became very familiar with the end game.

John Meriwether also has extensive experience with end games.

Tue, 04/19/2011 - 20:33 | Link to Comment New_Meat
New_Meat's picture

John Meriwether...

was it 2x or 3x?

- Ned

Tue, 04/19/2011 - 20:56 | Link to Comment Hephasteus
Hephasteus's picture

Yet. AOL still roams the earth being as full of shit as it was during the dot.com bust.

Wed, 04/20/2011 - 03:19 | Link to Comment Seer
Seer's picture

"My hubby told me that there is no end game. The game is continuous."

I would tend to concur with this.  But... things continue until they can't, and the controlling current of civilization is that of growth, and it's not even a question of whether growth will stop, it WILL.

As far as looking to just have "fun," well, that's subjective.  Peace and wonder of life, that's it.

"Knowing" is one thing, "understanding" is another.

Tue, 04/19/2011 - 19:19 | Link to Comment UninterestedObserver
UninterestedObserver's picture

Lots of people will die, other than that who knows

Tue, 04/19/2011 - 19:19 | Link to Comment UninterestedObserver
UninterestedObserver's picture

Lots of people will die, other than that who knows

Wed, 04/20/2011 - 12:22 | Link to Comment flattrader
flattrader's picture

They are dying now.

We just pretend not to notice...or either play "blame the victim."

The 1% has us trained well.

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