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Marc Faber: "Everything Is Going Up. Only At The Federal Reserve Is There No Inflation"

Tyler Durden's picture




 

Marc Faber was on CNBC earlier, once again discussing things so patently obvious only the Fed can not grasp them. Namely that as long as cheap money floods the system hard assets will continue rising in value, and gold will continue surging. Which is merely part of the bigger picture: nominal prices continue rising as real prices, denominated in paper and linen, continue to decline. But have no fear: Bernanke can fix everything in 15 minutes. Only that's total BS: "One day they will increase it by a quarter percent. But what does it mean when commodity prices are going through the roof, energy prices are going up, health care costs are going up, insurance premiums are going up?" Somehow, Bernanke believes, a hike will immediately undo months and years of downstream costs progressing through the system. And surely subprime is contained... As for the proverbial gold bubble: "If it were a bubble a lot of people would have gold. The whole world would be trading gold 24 hours a day. But I don't think it's really a bubble. I think gold is maybe cheaper today than it was in 1999, when it was $252." Oddly enough nobody mentions that gold is the only market that is now not part of the Fed's central planning "wealth effect" mandate (and the price suppression mandate is failing by the day): surging gold prices are an indication of one thing only: the market's desire to impose its own gold standard at a mark to market price equivalent for dollar destruction. It is this aspect of the metal: to correlate with Fed stupidity, that makes it such an attractive investment. And since Fed stupidity is endless, does it mean gold's fair value is infinite?

Also very enjoyable is the discussion of entitlement benefits beginning at the 7 minute mark.

Must watch.

Full clip (link).

 

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Fri, 04/08/2011 - 08:56 | 1149412 tallen
tallen's picture

Finally some sense over the Tube! Lets have more of this on the Ministry of Truth!

Fri, 04/08/2011 - 09:21 | 1149494 66Sexy
66Sexy's picture

We havent even seen the street level panic yet.

This is the 'smart money' buying now; most folks are busy checking their facebook and wondering WTF as gas prices soar.

It aint sunk in yet... when it does, and they start seeing that this is a revaluation downward of the dollar, we'll see where the money goes.

It is top-bottom asset acquisition now; once the street gets wind, they will be priced out of precious metals, or they simply wont know where to get them, or cant.

Plenty of other crap they can buy, that some form of worthless plastic.

Fri, 04/08/2011 - 09:20 | 1149507 hedgeless_horseman
hedgeless_horseman's picture

I put little faith in technicals, and am certainly no chartist.  Nevertheless, I do have access to a ruler, and the monthly of the dollar index has dropped below its rising channel, and support looks to be well below 70. 

Eeesh. 

Fri, 04/08/2011 - 10:19 | 1149696 schoolsout
schoolsout's picture

target of 68.36

 

for now

Fri, 04/08/2011 - 09:23 | 1149510 SheepDog-One
SheepDog-One's picture

Those wondering 'WTF' as gas and food prices soar are the same ones writting their snide little giggling comments for 2 years on my Youtube and Facebook videos that gas and food will soon soar. So fek em.

Fri, 04/08/2011 - 13:45 | 1150597 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

This is a very elitist, borderline fascist thing to say, but over the last few years I've come to the conclusion that the masses are simply incapable of understanding whats happening.  When you say the words "Crackup boom" to the people on this board, they can hold that idea in their heads and whether they agree with it or not it's as real to us as the word "chair" is to the masses.  But it doesn't work the other way around.

 

For most people "reality" is what they see and what they hear from other people (including the media).  Ideas are just not a relevant force in the average person's life.

 

I remember during the crash of 07/08 I wanted to feel like a smug housing bubble blogger laughing at all the idiots getting what they deserved and sometimes I did laugh.  But I realized that so many of them *still* didn't understand what was happening.  They weren't laughing at us in 05 because they heard our ideas and disagreed, they could never have understood then or now.  It's like trying to get get a dog to understand music.

 

I suspect as this drags on, I'm going to start feeling very bad for the masses again.  I just won't tell them that Im the one that has the gold I guess.

Fri, 04/08/2011 - 11:35 | 1149994 Hedge Jobs
Hedge Jobs's picture

"We haven't even seen the street level panic yet"

if you are talking about wall street then no, if you are talking about main street what are you expecting to see? the people on the "street level" aren't going to panic. they dont have assets they can move offshore, they don't have trust accounts, they don't have vast amounts of cash they can move into commodities. They can't take evasive action even if they wanted to. They are living hand to mouth, pay cheque to pay cheque. What can they do when they realise that their living standards are dropping through the floor? absolutely nothing is the answer, so why would they panic? They wont panic they will just get miserable, thats why they call it a depression because thats how it makes most people feel. if you are in position to protect some of your wealth and you family then great, but most people arent.

 

 

Fri, 04/08/2011 - 12:09 | 1150197 Temporalist
Temporalist's picture

They could get smart.  They could care about the real situation of things and not keep asking for handouts because it doesn't take a genius to understand money doesn't grow on trees no matter what the bankers tell you.  They could realize that the two parties in the U.S. are one in the same and are not there to benefit the little guy but to enrich the already rich and their method is to make it seem as though there is an American dream still and that everyone is entitled to their fair share but that same share is dwindling and they see it all the time but continue to buy into "hope and change" catchprhases and charisma instead of sound, consistent, knowledgeable voices saying there is a cliff in the distance and the solution to avoid it is not to step harder on the gas pedal.

People aren't dumb they are lazy to learn about what's happening.  At least one good sign is that Glenn Beck, Fox, MSNBC and CNN are losing market share to real news, alternative news, on the internet.

People have had a choice and their choices are what got them here.  They voted in war mongerers, kleptocrats, inexperienced failures, oligarchs, charlatans, political dynasties, sycophants, intelectual-elites...

I am a firm believer in people get what they ask for most of the time.  People...you asked for it.  Unfotunately, as goes any Faustian Bargain, what you get in the end is not what you expected.

Fri, 04/08/2011 - 21:38 | 1152391 tomster0126
tomster0126's picture

Well said...this brings up the need for better finance education in American classrooms, starting as early as middle school.  I remember as a student i learned virtually nothing of the financial system until late high school, and then only in college as a Finance major did I actually get some real knowledge (which was still pretty deficient in general).  Most people don't have the skills or resources we do; they need our help.  It's easy to say that they should just learn all of this themselves like we did, but easier said than done.

 

www.forecastfortomorrow.com

Fri, 04/08/2011 - 09:24 | 1149522 tellsometruth
tellsometruth's picture

You want the truth? You can't handle the truth!hahah sarc obvi! I will spam this again cause I have not had 1 "at a boy" for this or "well done" or nothing, and to be honest I would never have had the knowledge or balls/guts/gumption to do this with out ZEROHEDGE.COM. I can be heard asking Thomas Hoenig at the London School of Economics lecture about gold/silver, Bart Chilton, Andrew MGuire, PD manipulation for Central Banks, and the Constituition. Am I trying to get some attention, yes obivously, but I want it from the forum that inspired me to ACT! I know there are plenty of cynics here that can disount the effectiveness of such tactics, but look at Accorn caught on tape, how did that turn out? I will not use violence property destruction ("day of rage")as a tactic as so many pissed off youths here in London have resulted to as I think it detracts from the debate that is needed. So again I will post this:

 

 

TYLER,

http://www.lse.ac.uk/resources/podcasts/publicLecturesAndEvents.htm

download the mp3 of The Economic Outlook and Financial Industry Challenges
Speaker: Thomas M Hoenig
Chair: Dr Philippa Malmgren
This event was recorded on 30 March 2011 in Sheikh Zayed Theatre, New Academic Building

 

I ask Mr Hoenig about market manipulation of PM markets at the 55.30 mark!!! And I shook his hand afterward... this is what we need real debate and discussion, peacefully and see if can change the BS that has been going on.

 

please circulate or call me a dumbass I do not care I will stay my course, but I want more free open questioning and debate

Fri, 04/08/2011 - 10:21 | 1149701 tellsometruth
tellsometruth's picture

thanks for the junk bra

Fri, 04/08/2011 - 11:00 | 1149859 malikai
malikai's picture

Junked for saying "bra".

Fri, 04/08/2011 - 16:06 | 1151176 akak
akak's picture

What is a "junk bra"?

Would that be like a brassiere for Christine Romer?

Sat, 04/09/2011 - 03:25 | 1152941 Womb Service
Womb Service's picture

Nice work. I loved the idiotic nervous laughter response. "I didn't follow your question all the way through..." I could hear you clearly. What was his fucking problem?

 

You're pissing in the wind. Protect yourself and watch this house of shit collapse. Things are rapidly accelerating to the downside.

Sat, 04/09/2011 - 09:44 | 1153129 tellsometruth
tellsometruth's picture

Thank you for taking the time to download and listen, I thought the nervous laughter was great and they way that he defended that it is more than just Utah that agrees with me (Virgina just needs Gov signature)...I might be pissing in the wind, but it was exhilirating to ask that provactive of a question...

Wed, 04/13/2011 - 04:07 | 1164403 Forensic
Forensic's picture

Brandon

 

I was there at the LSE the other week and thought you dealt a killer Question to Hoenig.

I emailed details of this to Tyler, plus GATA, but neither seemed to bite.

I salute your non-violence resistance.

 

Sat, 04/16/2011 - 19:47 | 1176715 tellsometruth
tellsometruth's picture

Forensic,

Thanks for nod on your website as well, looked around your site briefly and liked what I saw

 

Fri, 04/08/2011 - 11:25 | 1150001 Temporalist
Temporalist's picture

Faber is one of if not the best.  I'd clone him and make a mini-me out of him if I could...and Jim Rogers because tiny bowties are super cool.

Fri, 04/08/2011 - 16:12 | 1151204 baby_BLYTHE
baby_BLYTHE's picture

agreed!

Marc Faber (greatest economist in the world) Vs. Benjamin S. Bernanke (worst economist in the world).

That I would sell an ounce of my gold to see!

As to mini-me, how about this:

http://i54.tinypic.com/nvcv9d.jpg

Sat, 04/09/2011 - 12:36 | 1153310 Zero Govt
Zero Govt's picture

we're all turning into Fabers, Rogers, Schiffs and Jim Sinclairs

it's not that Bernank is a crap economist, he's not anything but a crone. He does his masters/WS's bidding like a souless, unprinicipled sheep dip... and will go down with the bankrupt ship he's on lying to the bitter end to keep his team 'afloat' ...he's doomed like the other members of Club Parasite  

Fri, 04/08/2011 - 08:59 | 1149414 overmedicatedun...
overmedicatedundersexed's picture

who stuck that pickle in becky's mush..why we would have massive unemployment with out QE..whadda think we got now bitch.

Fri, 04/08/2011 - 09:00 | 1149423 the not so migh...
the not so mighty maximiza's picture

I don't think that was a pickle, Critical thinking and Becky Quick don't go together.

Fri, 04/08/2011 - 09:14 | 1149467 Cognitive Dissonance
Cognitive Dissonance's picture

I don't think that was a pickle, Critical thinking and Becky Quick don't go together.

Fixed it for you. No charge. :>)

Fri, 04/08/2011 - 09:23 | 1149518 SheepDog-One
SheepDog-One's picture

Yea how did Becky Quick suddenly become an economic expert? I remember a few years ago she was just the mildly and somewhat disturbingly kinda cute but lazy-eyed chick on the early morning crew who didnt say much of anything at all. 

Fri, 04/08/2011 - 09:32 | 1149535 Vergeltung
Vergeltung's picture

good description. I am surprised she didn't blurt out something inane about "alternative energy" as she is wont to do.....

Fri, 04/08/2011 - 10:04 | 1149637 wisefool
wisefool's picture

Last week she had a couple of days off and they put Michelle C (squared) in there, and it was a much better mix. Becky just nods and says "yup" like the fat guy in the king of the hill crew. C2 is more like Boonhour. Joe had to keep challenging everything she said, even though she was still reading exactly from the CNBC/Keynesain script as directed.

Fri, 04/08/2011 - 10:13 | 1149658 RealitiveMind
RealitiveMind's picture

That "fat guy" has a name, it's Bill.  How you could be so disrespectful to a man, (albeit a one dimensional cartoon man), by comparing him to sleepy eyed Becky dim-wit, is beyond me.

Fri, 04/08/2011 - 10:21 | 1149709 wisefool
wisefool's picture

I appologize. And you are right. the character Bill is very genuine and honest. I was only speaking to the aspect that he just generally affirms what the others are saying like a metronome sitting on top a player piano.

Fri, 04/08/2011 - 09:18 | 1149499 SheepDog-One
SheepDog-One's picture

It may have LOOKED like a pickle.

Fri, 04/08/2011 - 09:58 | 1149622 Chuck Walla
Chuck Walla's picture

Perhaps it is Warren's Pickle Becky dreams of? Kind of the Anna Nicole of finance maybe?

Fri, 04/08/2011 - 08:58 | 1149420 the not so migh...
the not so mighty maximiza's picture

good interview

Fri, 04/08/2011 - 09:06 | 1149442 BS_Merchant
BS_Merchant's picture

Silver?

 

 

Fri, 04/08/2011 - 09:11 | 1149455 the not so migh...
the not so mighty maximiza's picture

I have always liked silver more then gold

Fri, 04/08/2011 - 12:01 | 1150165 Thisson
Thisson's picture

Your avatar is deeply disturbing.

Fri, 04/08/2011 - 09:01 | 1149422 cossack55
cossack55's picture

When does the BOOM begin?

Fri, 04/08/2011 - 09:21 | 1149511 Horatio Beanblower
Horatio Beanblower's picture


“The course of a progressing inflation is this: At the beginning the inflow of additional money makes the prices of some commodities and services rise; other prices rise later. The price rise affects the various commodities and services, as has been shown, at different dates and to a different extent.

This first stage of the inflationary process may last for many years. While it lasts, the prices of many goods and services are not yet adjusted to the altered money relation. There are still people in the country who have not yet become aware of the fact that they are confronted with a price revolution which will finally result in a considerable rise of all prices, although the extent of this rise will not be the same in the various commodities and services. These people still believe that prices one day will drop. Waiting for this day, they restrict their purchases and concomitantly increase their cash holdings. As long as such ideas are still held by public opinion, it is not yet too late for the government to abandon its inflationary policy.

But then finally the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears. Everybody is anxious to swap his money against "real" goods, no matter whether he needs them or not, no matter how much money he has to pay for them. Within a very short time, within a few weeks or even days, the things which were used as money are no longer used as media of exchange. They become scrap paper. Nobody wants to give away anything against them.

It was this that happened with the Continental Currency in America in 1781, with the French Mandats Territoriaux in 1796, and with the German Markin 1923. It will happen again whenever the same conditions appear. If a thing has to be used as a medium of exchange, public opinion must not believe that the quantity of this thing will increase beyond all bounds. Inflation is a policy that cannot last.”

 

- Ludwig Von Mises

Fri, 04/08/2011 - 09:50 | 1149595 RealitiveMind
RealitiveMind's picture

So I am just waking up, literally, having a cup of mud, laughing at the Becky Quick comments, when I arrive at Senor Beanblower's comment.

I am thinking, FINALLY, somebody gets it!  Very concise, nailed it.  Then I scroll down, like the dope I am, and thud, I get Ludwigged.  I wonder if his books will be banned . . . .

Fri, 04/08/2011 - 10:00 | 1149631 Head for the Hills
Head for the Hills's picture

What about the breaking action of debt?  As long as there are people in debt, who are still willing to repay, this will delay the fall.  Even the very smallest peice of hardwood provides much more BTUs than a stack of hundred dollar bills, so no money will burn until all the debt (that people are still indending to pay) is gone and people are no longer willing to trade good sticks for cash.

Fri, 04/08/2011 - 10:34 | 1149752 tellsometruth
tellsometruth's picture

"They become suddenly aware of the fact that inflation is a deliberate policy"

 

word to your mother

Fri, 04/08/2011 - 11:04 | 1149888 RealitiveMind
RealitiveMind's picture

The keystone of the entire program? The Fed has a 100 year charter that is coming to an end soon.  The only way you could upgrade from having control of the most properous country in history would be to have control of the entire world.  Global currency anyone?

Man, I would love to be a busboy at Bretton Woods right now . . . "Mr. Soros, I will give you St. Charles Place and the Reading Railroad for Atlantic Avenue, and my right arm", deal? 

The answer lies in The Creature From Jekyll Island.

For those who are reading averse, you can watch the lecture series on YouTube.  If after, it still doesn't make sense, resume trips to Abercrombie and Fitch to improve self-image.


Fri, 04/08/2011 - 09:23 | 1149517 falak pema
falak pema's picture

when doom ends...we are not even into it yet...

Fri, 04/08/2011 - 09:02 | 1149425 LoneStarHog
LoneStarHog's picture

And now the opposing view from Mr. Denninger and the Kool-Aid crowd at The Market Ticker, where U.S. Pesos are hoarded in anticipation of purchasing real estate "at the bottom".

Fri, 04/08/2011 - 09:50 | 1149596 Rogerwilco
Rogerwilco's picture

I'm not a KD fan, but if you think the Fed and Treasury are going to let you realize "windfall" gains from your "terrorist" PM "hoarding" activities, you've got a platinum screw loose.

What's that? Your plan is to outlive the beast and prosper in the Mad Max world that follows? LOL!

The end game will be ugly for all participants, unless of course your name is Immelt or such and your GIV is fueled and ready 24/7.

Fri, 04/08/2011 - 10:41 | 1149690 GoinFawr
GoinFawr's picture

Hunh, what's your definition of "windfall"? 'Cuz by some standards, the gold "hoarders" you speak of might already be there... though I doubt they can be labelled "terrorists", except by duped and losing paperbugs who are chagrined because they scorned the sage advice of the golden boys over the last decade, of course. And the world hasn't gone entirely "Mad Max" yet either, go figure.

Maybe your deck is a few 'paper' cards short? Or did you just go all in ZSL with Saxxon awhile back?

If so: my condolences.

Fri, 04/08/2011 - 12:05 | 1150178 Rogerwilco
Rogerwilco's picture

My definition of windfall doesn't matter. If it suits their purpose, PM owners will eventually be vilified and marginalized. They will be labeled as domestic terrorists and your neighbors will be asked to do their civic duty and turn you in. The forfeiture machinery is already in place, all it needs is some muscle and a couple of legal precedents. The recent conviction of the guy minting silver coins and the subsequent confiscation is only the first step.

BTW I own some PMs, but I have no illusions about realizing any monetary gains from them. They are an emergency stash and that's all.

Fri, 04/08/2011 - 13:56 | 1150564 GoinFawr
GoinFawr's picture

`...eventually be vilified and marginalized.`?

Heh, where you been the last ten years? Goldbugs have been labelled all sorts, day in day out the whole decade, and realized real monetary gains all the way, even if all they were doing was trying to protect their purchasing power.

Now THAT was a `windfall` by anybody`s standard; see how this works? Kinda contradicts your point.

As for the rest: sure, maybe in the US, yeah. The `I was convicted because I am Not(die)haus` case is interesting. It was my understanding that he attempted to deceive people into thinking that his coins were actually Fed issued, which in a legal context is very different from merely offering a competing currency, though admittedly the judge`s words seemed to imply much more than that... then again all this is behind your own screen door anyway; the world is a much larger place, honest.

Fri, 04/08/2011 - 13:54 | 1150641 aphlaque_duck
aphlaque_duck's picture

‎"Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism," U.S. Attorney Anne Tompkins said in a statement after von NotHaus was convicted.

Fri, 04/08/2011 - 14:07 | 1150695 GoinFawr
GoinFawr's picture

Right. So in your opinion anything Anne Tompkins says is inviolable?

At the risk of making a Gold Leaf distinction 'Compete' doesn't necessarily equal 'undermine'. And in the context of the case I believe it was brought forward that Nothaus was attempting to deceive holders of his coins into thinking they were Fed issued legal tender, not merely another competing currency. Of which there are many.

Fri, 04/08/2011 - 09:02 | 1149427 alexwest
alexwest's picture

#And since Fed stupidity is endless, does it mean gold's fair value is #infinite

yep
how to spot gold idiot.. its who says gold will be that or this..
not a chance..

price of gold is secondary.. size of money printing is primary...

alx

Fri, 04/08/2011 - 10:19 | 1149682 THE DORK OF CORK
THE DORK OF CORK's picture

The damage has been done over a period of decades - the printing now is only a realisation of these credit money malinvestments and is the only honest alternative if you decide not to default on term accounts and bank bonds in banks which themselves were created my bank credit.

The Goverment money must replace credit money if you want the system to flow - the central deception is the initially small balance sheet of CBs with respect to the overall M3 which gives a artificially large value to the transactional currency.

The yield chasing game is coming to a end for perhaps the remaining decade - the system is recapitalizing.

 

Fri, 04/08/2011 - 09:01 | 1149429 razorthin
razorthin's picture

Becky is a lost cause.  But I wish Joe would say what he really thought.  But his ass would be booted off, because he is not the side show Santelli is.

Fri, 04/08/2011 - 09:06 | 1149439 LoneStarHog
LoneStarHog's picture

On the contrary, I have had numerous e-mail exchanges - heated - with Joe over the last 10+ years.  He is no better than the rest of the CNBS crowd. CNBS would dump Rick, except he is the only source of ratings and dumping him would validate his rants.

Fri, 04/08/2011 - 09:11 | 1149466 razorthin
razorthin's picture

He has a good poker face.  Guess I am not surprised.  But consider that his Lords may also be monitoring his emails.

Fri, 04/08/2011 - 09:04 | 1149437 DoctoRx
DoctoRx's picture

Faber in Jan called for a 15% decline in gold prices.  Maybe the Mary Jane had clouded his thinking temporarily.  Glad to welcome him back to the fight.

Fri, 04/08/2011 - 09:11 | 1149457 razorthin
razorthin's picture

He got the short-term direction correct - there was a 6% decline subsequently.

Fri, 04/08/2011 - 09:20 | 1149496 SheepDog-One
SheepDog-One's picture

Well there wasnt quite a 15% declice, but there was a pull back. I should have really doubled down then.

Fri, 04/08/2011 - 14:29 | 1150770 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Who junks every single one of your posts?

 

I hope they are at least using an automated script.  Imagine the sad sack of shit you'd have to be to perform the task manually.

Fri, 04/08/2011 - 17:27 | 1151633 malikai
malikai's picture

We all have admirers here.

Fri, 04/08/2011 - 12:30 | 1149738 baby_BLYTHE
baby_BLYTHE's picture

He got it dead-on correct in 2010 when everyone and their brother were screaming about the HindenBerg Omen. His call for a spring time correct for gold that same year was spot on when he did this interview on RT warning the Russkies about the coming Third World War:

http://youtu.be/pAJeZaFdbJA

Fri, 04/08/2011 - 09:07 | 1149438 Turd Ferguson
Turd Ferguson's picture

Santa chimed in with this last night. All should read:

 

 

The System Has Failed

Posted: Apr 07 2011     By: Jim Sinclair      Post Edited: April 7, 2011 at 11:22 pm

Filed under: General Editorial

Dear CIGAs,

The system has failed. It failed the day that Lehman Brothers was flushed.

There is a financial condition of an ocean of liquidity making the broken remains of a failed financial system in the Western world opaque.

There is no future failure coming. What is coming is a mass realization that exposes the fact there is no functioning system under all this liquidity. It is a sharp contraction in confidence that lies down the road. Realize this and know that there is one more step you need to make.

Having the largest pile of gold and silver without considering one more step might make you a modern Midas.

There is more to insurance than simply financial. Shortages of goods and services will occur because of currency induced cost push inflation resulting in dislocations of the organization and compensation in the distribution functions. That means there could be ample food in the system but little available on the shelf of your local market.

Because of the ill-understood world shaping changes in the Middle East, the impact of “Peak Oil” on price has been sharply accelerated. Public utilities considered now as a human right will prove themselves to be privileges. Expectation of power on a constant basis will become a hollow expectation.

If you do not have the experience of living in India and Africa in the 80s, you have no idea of how to live in a Western World experiencing long term currency induced cost push inflation. Self reliance will become as important as your holdings in gold. To have a huge pile of gold but remain totally dependent on the infrastructure of the Western World system is a serious mistake. You would have substantial capital but lack goods and services to buy. You will be able to afford much, but much will be either in short supply or illegal.

You know more about what is occurring than 99% of investors.

You are the 1% that knows the SYSTEM HAS FAILED.
You are the 1% that knows the system failed the minute Lehman Brothers was flushed.
You are the 1% not looking for some failure in the future but know there is no system below the flood of liquidity.
You are the 1% that has been exposed to the concept of currency induced cost push.
You are the 1% that can understand the future.

 

Fri, 04/08/2011 - 09:11 | 1149465 tellsometruth
tellsometruth's picture

Thanks Turd for all you do...

Fri, 04/08/2011 - 09:58 | 1149616 High Plains Drifter
High Plains Drifter's picture

what happened to gold middle finger?   did he change  idenitities?

 

gold middle finger  =  mathman???

Fri, 04/08/2011 - 10:04 | 1149636 spartan117
spartan117's picture

He is now long juan silver.  You forgot a few more.  Johnny Bravo, Master Bates, Tworiver, Spalding, godfader.

Fri, 04/08/2011 - 09:22 | 1149508 spiral_eyes
spiral_eyes's picture

amen, brother.

Fri, 04/08/2011 - 10:21 | 1149708 DoChenRollingBearing
DoChenRollingBearing's picture

amen.

Fri, 04/08/2011 - 11:40 | 1150067 Founders Keeper
Founders Keeper's picture

[To have a huge pile of gold but remain totally dependent on the infrastructure of the Western World system is a serious mistake.--Jim Sinclair]---Turd

Thanks for adding this article to the threads, Turd.

"What is coming is a mass realization that exposes the fact there is no functioning system under all this liquidity."

I agree the "system" died, and only appears to be functioning, like Weekend at Bernies. Tragically, it will be too late before "mass realization" materializes. (Note, the Weekend is almost over.) 

As for the "infrastructure" trap, tough to escape one.

 

Fri, 04/08/2011 - 13:47 | 1150608 centerline
centerline's picture

My only comment on that is subject that no further failure is coming.  I know that I would be splitting hairs with the author, but the recognition of failure is an event or process in itself.  The next failure within this failure is the failure of confindence.  That is where and when the bottom falls out... assuming the plug is not intentionally pulled beforehand.

Fri, 04/08/2011 - 09:07 | 1149446 AUD
AUD's picture

Gold never has and never will be a bubble. Bubbles are are credit phenomenon, gold is money, it cannot be a bubble.

Government & bank credit is the bubble. The only 'pundit' I've seen saying this is Jim Willie, though I can't get through a full article of his.

Fri, 04/08/2011 - 10:24 | 1149721 falak pema
falak pema's picture

gold and silver can bubble like anything else...having said that...in today's context...with THREE major fiats belly up...gold has a lot of space to move...until 95% of money managers only hold gold as fiat hedge...then watch out...for the next roller coaster hedge of hedge.

Fri, 04/08/2011 - 09:10 | 1149448 Dr. No
Dr. No's picture

Well, bonds are going down.... hehe.

Fri, 04/08/2011 - 09:08 | 1149449 High Plains Drifter
High Plains Drifter's picture

Doctor Doom , breakin it down....

Fri, 04/08/2011 - 09:09 | 1149451 monopoly
monopoly's picture

But for most of us here. Nothing new. Nothing we don't already know and we are preparing for what we know will occur.

Fri, 04/08/2011 - 09:11 | 1149452 Quintus
Quintus's picture

"And since Fed stupidity is endless, does it mean gold's fair value is infinite?"

 

I disagree.  The Fed is full of very intelligent people, and when you see intelligent people doing apparently stupid things, it probably means that you do not understand what their motivation is.  Whatever is motivating the Fed's actions, it most certainly is not their avowed aims of price stability, full employment and low interest rates.

Fri, 04/08/2011 - 09:14 | 1149473 LoneStarHog
LoneStarHog's picture

A modern high-tech automotive manufacturer can be staffed with "intelligent people" experienced in making wagon wheels, it does not mean that they are competent for their present positions. We need Austrian economists.

Fri, 04/08/2011 - 09:19 | 1149493 Quintus
Quintus's picture

What we need is no Central Bank, and a hard money system that is not beholden to a central banking cartel of any economic persuasion.

Fri, 04/08/2011 - 10:14 | 1149664 IBelieveInMagic
IBelieveInMagic's picture

You got it right -- the real mission of Feds is to take maximum advantage of the USD in global trade in garnering resources (read 25% of world energy consumption without even considering inputs into imported manufactured goods and services, etc.) without crossing red lines that would force other trade participants to abandon the current system.

And in my view they are doing a stellar job from point of view of the US -- they have enabled 40+ years of unrelenting over consumption of world wide resources! We are being very hypocritical in criticizing the Feds when as a nation we have benefited immensely from the financial system that the Feds has successfully spearheaded -- yes, the benefits have not been shared evenly by all Americans but the Feds have delivered unbelievable value in the aggregate to the nation.

Fri, 04/08/2011 - 10:17 | 1149687 overmedicatedun...
overmedicatedundersexed's picture

becky is that you becky??

just saying that there is a benefit..is not enough on ZH..esp when we all see it so differently..

how about facts to back up that statement...

not holding my hand over my ass waiting for you..the word idiot is not sufficient.

Fri, 04/08/2011 - 10:56 | 1149841 RichardENixon
RichardENixon's picture

Printing up funny money and exchanging it for real assets clearly allowed the U.S. to overconsume for decades. The pain resulting from this policy will be severe, however.

Fri, 04/08/2011 - 11:20 | 1149990 sun tzu
sun tzu's picture

Yes we use 25% of the world's oil. That is because in places like Africa and Central Asia, there are 2 billion people living in huts with no running water and not electricity. They use absolutely no oil. That little fact skews the numbers. We also wear alot more clothes and eat alot more food per capita than most of the world. That's what happens when you compare an industrialized part of the world to people still living in the stone age

Fri, 04/08/2011 - 09:11 | 1149454 Mr Sceptical
Mr Sceptical's picture

I really like this guy :-) He speaks the truth...

Fri, 04/08/2011 - 09:12 | 1149456 Cognitive Dissonance
Cognitive Dissonance's picture

I've been sensing some uncertainty in the CNBC morning crew over the past week or two. They've been so indoctrinated into the meme of no inflation that they could accurately be called true believers. But over the last week I can hear a little doubt creeping into their voices and questions.

Not a lot at this point but it does come out in follow up questions on inflation whereas before there would be none. And after some talking head states unequivocally that there is no inflation, there is a longer silence by Becky or Joe before they respond. Could the faces of financial propaganda be loosing their religion? Tune in next week and find out. 

Fri, 04/08/2011 - 10:07 | 1149643 InconvenientCou...
InconvenientCounterParty's picture

If anybody is unclear about what the state of cognitive dissonance looks like, pay close attention to the faces of the interviewers. There's nothing else like it. It looks like pain and it really is painful in a way. It's like a baby that just got his tit pulled away.

It's very natural for people to avoid this state and it's not necessarily because of poor character or malice.

Fri, 04/08/2011 - 11:12 | 1149936 RealitiveMind
RealitiveMind's picture

Like most of us here, I only watch it without sound until I see those facial movements, then I hit the DVR rewind button to see what sort of undigestible mistruth came out of the useful idiots.  As programmed as they are, you can tell that sometimes they can't even believe what they just said.

Fri, 04/08/2011 - 10:21 | 1149699 Pegasus Muse
Pegasus Muse's picture

Between Steinhardt, Faber, and implosion of the Buffett/Berkshire Myth there has been way too much honesty and truth revealed this week for those Squawksters to keep up "we're in a recovery" BS.  

Fri, 04/08/2011 - 09:11 | 1149458 YouBetYourLife
YouBetYourLife's picture

If williambanzai7 hasn't already imposed the Bernanke's face on a picture of Auric Goldfinger, he should.

Bernanke has done more to make the price of gold soar than Auric ever did.

Fri, 04/08/2011 - 09:12 | 1149459 Dental Floss Tycoon
Dental Floss Tycoon's picture

"as long as cheap money floods the system hard assets will continue rising in value"

 

Just a quibble but things are not rising in value they are rising in price.

Fri, 04/08/2011 - 09:14 | 1149480 SheepDog-One
SheepDog-One's picture

Right. Houses for example are not increasing in value or price. 

Fri, 04/08/2011 - 09:18 | 1149497 LoneStarHog
LoneStarHog's picture

Items rising faster than monetary inflation are rising in value (e.g. gold & silver).  This is because they have been manipulated/supressed for so many years.  Those who entered the gold/silver market in 2000/2003 have definitely seen a "rise in value".

Fri, 04/08/2011 - 09:33 | 1149543 Dental Floss Tycoon
Dental Floss Tycoon's picture

"Items rising faster than monetary inflation are rising in value (e.g. gold & silver)."

True.  But the rise in value is not the result of the money printing.

One thing that Mark mentioned that gets little press is that the Dow has lost 80 percent of its value in the last 10 years when priced in gold.

Fri, 04/08/2011 - 09:40 | 1149554 Bay of Pigs
Bay of Pigs's picture

+1 from the Pig to the Hog...

Fri, 04/08/2011 - 09:14 | 1149471 Internet Tough Guy
Internet Tough Guy's picture

Who killed the dollar?

Fri, 04/08/2011 - 09:19 | 1149501 SilverBaron
SilverBaron's picture

The (un)Federal Reserve.

Fri, 04/08/2011 - 13:58 | 1150658 onarga74
onarga74's picture

C'mon...you should know by now that all knowledge is hidden in the Beatles songs.

The new U.S. dollar....

Do yuana know a secret?

From me to Hu

Fixing a hole

Hello goodbye

Helter Skelter

I should have known better

If I fell

If you've got trouble

I'll be on my way

I'll cry instead

I'll follow the sun

Im a loser

Yuana B Good

Love me Hu

When I'm 64 cents

Peng Y Leng

 

 

 

 

 

Fri, 04/08/2011 - 09:13 | 1149474 SheepDog-One
SheepDog-One's picture

Right Quintus, the FED's objective is to bankrupt us. The idea theyre the ONLY ones who do not see the consequences of printing mountains of money and flooding the globe with it is preposterous. Therefore, the only conclusion is it was planned all along, 2008 crash and all.

 

Fri, 04/08/2011 - 09:15 | 1149475 Minyan Vince
Minyan Vince's picture

Becky Quick's face/comment on Faber's 1 vote per person in the US equalizing the poor shlub and the "person of influence" is priceless

Fri, 04/08/2011 - 09:35 | 1149547 Vergeltung
Vergeltung's picture

I saw that too. it was priceless!

Fri, 04/08/2011 - 09:16 | 1149483 NOTW777
NOTW777's picture

where is the kass interview on shorting gold?

Fri, 04/08/2011 - 09:17 | 1149486 I am Jobe
I am Jobe's picture

Wow, he nailed it.

Fri, 04/08/2011 - 09:16 | 1149490 TaxSlave
TaxSlave's picture

Becky always looks like she's trying to decide whether to spit or swallow.

Fri, 04/08/2011 - 09:36 | 1149542 ThisIsBob
ThisIsBob's picture

There will always be a comfy place in our society for blond bimbos who swallow.  Is this a great country, or what?

Fri, 04/08/2011 - 09:23 | 1149491 Horatio Beanblower
Horatio Beanblower's picture

Just for fun...

 

Inflation (Cambridge Dictionary) - http://dictionary.cambridge.org/dictionary/british/inflation

 

Inflation (Oxford Dictionary) - http://oxforddictionaries.com/view/entry/m_en_gb0410160#m_en_gb0410160

 

Inflation (Merriam-Webster Dictionary) - http://www.merriam-webster.com/dictionary/inflation

 

Three cheers for Merriam-Webster.  Hip hip...  Hip hip...  Hip hip...

Fri, 04/08/2011 - 09:18 | 1149492 somethingelse
somethingelse's picture

Best line in the clip:

Mark Faber:

"It depends on whose misery."

Fri, 04/08/2011 - 09:22 | 1149514 kito
kito's picture

hey did you check out the cool new features on facebook?

Fri, 04/08/2011 - 09:49 | 1149581 pazmaker
pazmaker's picture

Hey thanks for that link Yardfarmer.

Fri, 04/08/2011 - 09:29 | 1149527 michaelheston
michaelheston's picture

These cnbc puppets must realize that they are fos.  I don't know how they sleep at night knowing they are decieving people.  I guess if you are dumb enough to believe them you are getting what you deserve.

Fri, 04/08/2011 - 11:49 | 1150107 Chuck Walla
Chuck Walla's picture

These cnbc puppets must realize that they are fos.  I don't know how they sleep at night knowing they are decieving people.  I guess if you are dumb enough to believe them you are getting what you deserve.

 

The checks all cash the same...

Fri, 04/08/2011 - 09:28 | 1149530 savagegoose
savagegoose's picture

yeah he's right you should get 1 vote for ea dollar tax you pay.

Sat, 04/09/2011 - 09:42 | 1153124 Another Texan
Another Texan's picture

Horrible idea.  Thats called Plutocracy.  We are "by the people, for the people."

Fri, 04/08/2011 - 09:29 | 1149533 Bitch Tits
Bitch Tits's picture

Two men decided to start a business. One was a gifted, successful businessman and the other was a gifted, successful garbageman.

Their business was waste disposal. The businessman knew his partner was naive about the facts of "real" business, so he kept - shall we say - certain "aspects" of the business private.

He and his partner advertised heavily and undersold the competition, beating them out to become the #1 and only waste disposal company in town. Once they defeated the competition, thanks to the businessman's "savvy" and his partner's hard work, the businessman raised the price of their services, thereby increasing profits considerably.

However, whenever the garbageman partner asked why he wasn't receiving more money, his partner told him it was due to "inflation", which was eating away all the profits. The garbageman said, "Well then, we obviously need to raise our prices again." So they did. The businessman was rolling in clover, but his partner was struggling to keep up with all the business, especially when he wasn't making any money doing it.  He was getting depressed and was so overworked that, soon, he stopped giving such great service and started missing a few houses. Eventually, customers began to complain. The businessman began beating up on his partner, and insisting that he take even less of the profits since he wasn't "holding up his end of things".

In the meantime, Wang Chu, new to the neighborhood, saw a great opportunity. What if he started a new business, undercut the businessman's prices, and offered even better service?

He did just that, and the businessman and garbageman soon went out of business. The businessman retired in the Hamptons, and his partner, the garbageman, went to work for Wang Chu, making even less money than he had been making when he owned his own business.

When the garbageman questioned his former partner about how it was possible that only he could afford to retire in the Hamptons when the garbageman himself could barely afford to feed his family, his businessman partner said, "What are you talking about? My retiring in the Hamptons has been a great benefit to you! It's as plain as the nose on your face that once I retired in the Hamptons, you were able to use your skills and experience gained in our business to immediately get another job!"

Fed and Business philosophy: It's only "inflation" if you happen to work for the money, if you're the guy keeping the books, it's profits.

Fri, 04/08/2011 - 09:54 | 1149588 SilverBaron
SilverBaron's picture

Then the garbageman realizing he had been screwed, went to the pawn shop and bought himself a 357 magnum.  The businessman didn't fare too well after all.  The next thing the business man knew he was kneeling before God begging for mercy, but none was given.  He was flogged with a cat o' nine tails and thrown into the lake of fire and became ashes.

Fri, 04/08/2011 - 14:19 | 1150730 Bitch Tits
Bitch Tits's picture

The appropriate ending, but I think the businessman bought himself protection and had the garbagemen thrown in jail.

Man with the Gold Rules.

Fri, 04/08/2011 - 09:34 | 1149539 MiningJunkie
MiningJunkie's picture

It simply re-states the old adage that one should NEVER UNDERESTIMATE THE REPLACEMENT POWER OF EQUITIES WITHIN AN INFLATIONARY SPIRAL.

So BTFDYFI...

Fri, 04/08/2011 - 09:32 | 1149541 bingaling
bingaling's picture

So when does the bond dump occur ? How does China or Japan for that matter just sit with their reserves (Japan has to for now) but what if and this is a big what if that money gets thrown back into the mix suddenly ?

Fri, 04/08/2011 - 12:03 | 1150175 onarga74
onarga74's picture

The bond swap is forthcoming.  They're negotiating with Venezuela.  Risk is neutral with bonds backed by oil (Venezuela) and China won't send a billion people to collect.  Chavez is crazy but at least he's consistent.  We have a 613 gozillion dollar hole to fill and Republicans spent 2 months focused on NPR which is like knowing that a meteor is going to destroy the earth in 3 days and you go out and mow your lawn.

Fri, 04/08/2011 - 09:40 | 1149556 Cursive
Cursive's picture

Well, not everything is going up in dollar denominated units. The USD, for example, is falling.

Fri, 04/08/2011 - 09:40 | 1149561 Seasmoke
Seasmoke's picture

hitting the brakes when the car has left the roadway and is now flying thru the air isnt going to help anything

Fri, 04/08/2011 - 09:42 | 1149563 tellsometruth
tellsometruth's picture

Thank you Mr. Faber!

 

Fri, 04/08/2011 - 09:52 | 1149579 Head for the Hills
Head for the Hills's picture

Bernanke has ordered that the Soda machines at the Fed be replaced with the classic 10 cents models.  They don't even know what it is like outside.  The cheeseburgers in the lunch room are 15 cents.

http://www.jimpryor.net/teaching/courses/intro/notes/images/cokemachine-...

BTW, That's 10 cents in 90% silver.  Those worthless clad slugs spit out the reject slot.

Fri, 04/08/2011 - 09:50 | 1149597 red_pill_rash
red_pill_rash's picture

"Whoever controls the volume of money in our country is absolute master of all industry and commerce...and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation or depression originate."
- James Garfield

 

Het Becky....it's conspiracy history....not theory.


Fri, 04/08/2011 - 10:44 | 1149790 Cursive
Cursive's picture

@red_pill_rash

Best comment I've read for weeks. It's a twist on the Golden Rule.

Fri, 04/08/2011 - 09:54 | 1149606 indio007
indio007's picture

Quote of the decade

"Everyone is trying to rip off the system."

Can you hear that TransOcean?

 

Shameless cretins...

Fri, 04/08/2011 - 09:56 | 1149608 Bicycle Repairman
Bicycle Repairman's picture

Bernanke will raise interest rates token amounts.  The real rate of interest will remain negative for a decade or more.  It is part of the 1970s shell game.

Fri, 04/08/2011 - 09:58 | 1149621 Ricky Bobby
Ricky Bobby's picture

But ..... But ..... But Marc it can't be true.

Fri, 04/08/2011 - 10:00 | 1149629 MsCreant
MsCreant's picture

Hi,

A 125 year old oak fell on my house Monday, it is destroyed. I am homeless. I got some valuables out but the companies that are supposed to be helping me are clusterfucking (power is supposed to be off, discover it is not when guys are on cranes, and in trees at the same time, stuff like that, I could go on). The adjuster won't tell us anything till the tree is off. As the tree comes off the house collapses more, damaging my stuff that they won't get out. I have been working with my husband with the help of neihbors, to get stuff out but it is not enough.

Where are they going to try to screw me?

Do I need a lawyer or is that a way for me to spend money I don't need to be spending? If I do, how do I find a good insurance lawyer?

I will look back here later if any of you have time to comment. My access to the net is spotty.

It could be I'm just fucked. It could be an opportunity. The house was paid for, I may be a tiny bit underinsured (who knew in a declining market?).

Thanks in advance for any advice you have. The most important thing is that everyone is uninjured.

Fri, 04/08/2011 - 10:11 | 1149654 -Michelle-
-Michelle-'s picture

Oh my goodness.  I don't have much advice, but I'm sorry this happened to you and I'm glad you and yours are all okay.

Fri, 04/08/2011 - 10:14 | 1149672 the not so migh...
the not so mighty maximiza's picture

sorry to hear about this,  Short term I would rent an RV and stay on site to prevent vandels and supervise the removing of the tree. Insurance claims can take 3-4 weeks.

Fri, 04/08/2011 - 10:38 | 1149769 DoChenRollingBearing
DoChenRollingBearing's picture

MsCreant, what a terrible thing to happen, I would expect all of us here at ZH are sorry to hear this and we wish you the best.

I would second the not so migh...'s suggestion, and rent an RV and stay on site.

Stay on them about removing the tree (get fragile and/or delicate items out of the house).  Stay on the insurance company.  Ask your neighbors for any advice or contacts they have.

Fri, 04/08/2011 - 10:25 | 1149718 lieutenantjohnchard
lieutenantjohnchard's picture

we had a similar exprerience. the details are slightly different but basically our family house flooded and we lost essentially everything including my lovely brides' imelda marcos equivalent shoe collection. you're wise to view this setback (probably isn't in the grand scheme of your life) as an opportunity. i would suggest you not make any hasty decisions. get your property out and store it. then get a rental and think things through when not under duress. i think you'll come out of this better than before. we did, and from the perspective of hindsight i realize it was God's plan for us all along.

Fri, 04/08/2011 - 10:54 | 1149840 Vlad Tepid
Vlad Tepid's picture

Dang...I was wondering where you were.  I would certainly second that you stay on site and supervise the procedure.  Hope you can keep checking back in.

Fri, 04/08/2011 - 11:01 | 1149875 RichardENixon
RichardENixon's picture

Your insurance policy probably covers temporary living expenses while your house is unihabitable. The adjuster really can't do much until the tree is removed. The cost of that should be covered. Talk to him now about getting some cash for living expenses.

Fri, 04/08/2011 - 11:11 | 1149931 Cursive
Cursive's picture

Excellent advice. Get a copy of that policy and hold them to it. If you can't get in the house, your agent should have a copy and you'll have to trust your agent until you can locate your copy.

Fri, 04/08/2011 - 11:06 | 1149903 Cursive
Cursive's picture

@MsC

My experience with lawyers is that they always get the money and you get the bill. Sure, lawyers have their place, but are very costly. If you are having problems with the insurance company, contact your state AG's office or insurance depaetment and file a complaint. No, the state agencies will not be terribly helpful, but it will give you some leverage against your insurer. The RV idea is a good one and if you are cash strapped, look into some of the house kits available on the net or at your local hardware store. I'd post some, but I'm on this damn i-phone. Please know yhat you will be in my prayers.

Fri, 04/08/2011 - 12:40 | 1150356 velobabe
velobabe's picture

ms c are you still in tennessee? you better look into your zoning about having an RV on your property and if you can reside in it temporarily, before investing in such a huge liability. lawyers suck. mine took about 80 thousand and just left me mid stream. i don't know about trading horses midstream. change happens. might be a sign. we are in mercury.

Fri, 04/08/2011 - 16:38 | 1151330 Founders Keeper
Founders Keeper's picture

[A 125 year old oak fell on my house Monday, it is destroyed. I am homeless....]---MsCreant

Hi MsCreant. I'm so sorry to hear your bad news, but am glad you and your loved ones are OK.

I haven't had that particular experience, so I don't have any practical advice to offer.

How else can I help? I'll add you to my prayers tonight. I can send you a little cash, but how in the world could we do that? ZH has my email address. Maybe you could use Tyler as a go-between.

Condolences and Best Wishes.

 

Fri, 04/08/2011 - 20:37 | 1152203 Arkadaba
Arkadaba's picture

Very sorry to hear this! Glad to hear you are thinking of this as potential opportunity. I know it is cliched but trying to find the silver lining when facing adversity sometimes does help.

Sat, 04/09/2011 - 00:40 | 1152793 MsCreant
MsCreant's picture

Thanks for all the feedback. I think I will avoid the lawyers until it is clear that I am being screwed, rather than just a hard set of circumstances everyone is trying to do their best with. The RV thing sounds like a good idea at first blush, but I think Velo makes good points about the situation. I am okay cash wise, I probably have too much given the state of things (I was going to BTFD).

The doom parade, it's on. Lock, stock, and load.

Love you all.

Sat, 04/09/2011 - 13:46 | 1153460 Bay of Pigs
Bay of Pigs's picture

Best wishes and Aloha to you MsCreant.  

Sun, 04/10/2011 - 10:58 | 1154826 falak pema
falak pema's picture

I'll write you another erotic poem if it'll make that oak tree rise like Lazarus did with ...I forget!

Fri, 04/08/2011 - 10:08 | 1149650 Doubleguns
Doubleguns's picture

And since Fed stupidity is endless, does it mean gold's fair value is infinite?

Yep, would be the correct answer.

Fri, 04/08/2011 - 10:10 | 1149651 Ricky Bobby
Ricky Bobby's picture


Now back to our regular programming. Wow look at all the deals on Wall street, more consolidation, centralization and global footprint. Ah Ah of course there will be redundancy and some layoffs will be necessary. Next let's feature a billionaire scumbag and show the little people the life styles of the rich and famous. Definitely no more Steinhardt or Faber to much of downer, even the sheep are liable to wake up if these guys are allowed to keep appearing.

 

 

Fri, 04/08/2011 - 10:20 | 1149694 Double down
Double down's picture

CNBC is endless "entertainment".  It is comedy, these people appear to be hung over.  

Fri, 04/08/2011 - 10:36 | 1149770 adonisdemilo
adonisdemilo's picture

there are only two kinds of people

PRODUCERS Vs PARASITES

when the producers are in control, read majority, we get different levels of wealth

when the parasites are in control, we get different levels of poverty.

therein lies the parasites envious mantra,"if i can't have it, then neither can you"

Fri, 04/08/2011 - 14:32 | 1150782 Bitch Tits
Bitch Tits's picture

There are only two kinds of people

PREDATORS Vs PREY

When the predators are in control, read wealthy minority, we get different levels of poverty.

The prey are never in control. They just consistently produce ever more results for the predators in exchange for mere pennies in return.

Therein lies the predator's arrogant mantra, "If you're not rich, you're not trying."

 

Fri, 04/08/2011 - 10:40 | 1149777 baby_BLYTHE
baby_BLYTHE's picture

"Continue to accumulate gold. The best way is to dollar cost average every month. Gold may decline in the short-term, but the long term trend is up. Faber also mentions that gold remains undervalued compared to the egregious amount of fiat money which has been printed by central banks worldwide. If the US ever needed to back the dollar with gold, it would take a price of $7500 per ounce of gold to accomplish this. Thus, gold remains an attractive asset. Furthermore, gold is still under owned by individuals and institutional investors.

Regarding gold stocks, Faber is buying Newmont and Barrick." - in Wall Street Pit, from the Gloom, Boom & Doom Report

http://marcfaberblog.blogspot.com/2011/04/gold-is-still-under-owned-by.html

Fri, 04/08/2011 - 10:50 | 1149825 PulauHantu29
PulauHantu29's picture

Ho wcan this be? Timmy repeatedly said," We want strong dollar!"

The Bernank said, "There is no inflation!"

And the Japanese said,"it's only a tiny leak."

I am beginning to doubt these people.

Fri, 04/08/2011 - 10:52 | 1149834 FluffyCone
FluffyCone's picture

During Marc Faber's comments on entitlements, it appears that he is suggesting that only rich people work hard. Has he not seen all the hard working Latinos in the USA working their asses off in landscaping. I know from personal experience. I worked for a landscaping company and those Latinos can out-dig a bobcat or backhoe. I'm not mad, just confused.

Fri, 04/08/2011 - 12:27 | 1150302 Suisse
Suisse's picture

It's not "hard" work because there is no barrier to entry. Nearly anyone can do physical labor, it is rather simple.

Fri, 04/08/2011 - 13:46 | 1150594 indio007
indio007's picture

It might be simple to do manual labor but not alot of people have the mental toughness to endure the associated pain and suffering that go along with it. I used to do a job which was so physically demanding most people would quit within 15 minutes. That is not hyperbole either.

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