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Let's hope that the "intrinsic value" of all banksters/politicians is reached and...
"This shows that the world economy and the world financial system is being run by morons who only have their own self interest in mind and do not understand the consequences of their ruinous actions."
No trues words have been said. See today's headlines for further proof.
+1 Great quote. Sensational. Wish I wrote it.
Like Larry Summers says "you changed your mind when the fact has changed". It makes you wonder what kind of friggin fact he was looking at, while others come up a different conclusion.
A real visual memory from the middle ages is heads on pikes.
I was conjuring images of Vlad The Impaler...
Politicians adorning lamp posts.
I am Chumbawamba.
Actually, the impaling almost never was through the chest or stomach, but up the rectum, with the victim's body weight doing the finishing-- after a little initial tug on their feet to start things.
Apart from his aparent gayness, Ol' Vlad was a true innovator. Quick, someone invent a time machine so we can fetch Vlad/Dracula!
Don't tell Elton John.
Oh, so this? this is "it"
nice of him to clue us in
we have crossed the "RUBIN-COHN"..........and the Greenspan-cohn and the Geithner-con and the
Barry-O-con................and I am not Chumbawumba...............
"This is the clearest evidence of governments and central banks defrauding their people of their hard earned money."
No, it's clear evidence that people want something for nothing. The global financial credit system doesn't operate without billions of you lending and borrowing at a rate of interest. Look at all the old people, they put their money in the bank and want more then 3% and are crying because nobody wants it. They are delusional idiots.
The system simply ran out gold to support your lending and borrowing long before any of you guys were born.
The central banks are doing exactly what you have commanded them to do... pretend a system based exponential growth is sustainable long-term.
How do I know that the masses still believe the lie... simple, the system would collaspe this second if they didn't.
Exactly. Well said. Deflation is here to stay.
Deflation is here to stay.
McMansions sale - buy one get one 1/2 off. Lumber down over 20% in last 8 weeks.
This is bullish for the Amazon rain forest and everything in it.
i'm Long Acai Berries and Ayahuasca
You need to get down from your high horse and breathe some oxygen.
First they introduced inflation, to hide the monkey business;
then they said 'leverage your company's borrowing, take a pay hike and buy yourself a new German car';
then they said '-cheap money, honest- here is a credit card for you, and another one';
then they said, 'Pension, that's what you want, we can treble what you put in';
then they said 'Bigger mortgage, no problem -better take it, house prices can only go up';
then they said, 'House prices have gone up, better bid more and buy quick';
then they said, 'We have new and exciting products for you to try. Just sign here';
but then they never said, .... we are taking a cut of quite a few percent every time your money passes our doors, it compounds up nicely...;
then they said -'We want it all! (God knows why) And if we dont get it, we'll crash the system'.
So how come its my fault?
"So how come its my fault?"
Because you and your parents and your parent's parents, etc. think you can have a system based on lending and borrowing at a rate of interest that will last long-term. That is the lie.
There is no "they", you are the "they", you just think you are not, but you are. The lemmings all line up to march to their doom.
There is no "they", it takes billions of you guys to hold up the lie. How do I know the masses believe the lie, the system would crease to exist this second if the masses didn't believe the lie. The lie will crumble, just like all lies crumble, yet you will be sitting their thinking the is the work of the government and some bankers. Nope, this is not possible without billions of humans supporting the lie.
"Haven't you heard everyone is innocent in Shawshank"
mako- some are financially apt and some arent...some believe so called conspiracies and some dont...i bet you cant perform cardiovascular surgery 13 hours a day..so if you cant produce a quadruple bypass surgery power point presentation without reference material, you're a lemming right?...you're a fuckin moron.
If this is true then prisons could finally file for IPOs and go public. Full transparency prisons could be the next bull market, profitable from day one! Productivity from 1,000,000 inmates on payroll will boost GPD, bring jobs back to America, and reduce unemployment from 15m to 14m.
Of the 14 million remaining unemployed we put them all to work immediately [wash] by building more prisons (bullish for construction and raw materials - and BLS), then we find them guilty of something...I don't care, anything that will stick - something like tax evasion - "Not paying their fair share" - or something).
Then, we put them IN the prisons to work [rinse]. I don't care, any job - shredding documents for GS or melting the copper penny when its no longer in circulation.
Then, we make all illegal aliens legal and have them pick up their citizenship papers at their local FHA-approved banker's office and start the whole process over again [repeat].
On a serious note, this was one of the heaviest articles on ZH. Wow. I didn't think it could get much worst but if every government is bankrupt everybody has to learn to farm and barter wisely.
That was brilliant Liqi, in a bankster/politician kind pf way.
And other-wiser, this article is a saver, an I-told-you-so-er, .
I've saved it.
Define old...................what age brkt ?
Also, "Look at all the old people, they put their money in the bank and want more then 3% and are crying because nobody wants it. They are delusional idiots."
Everyone is not a delusional idiot for following a system of law.
If it worked for their parents, and they paid for the SO called Entitlements, and THEY at least SAVED?....that makes them idiots?.
While illegals, and welfare class did nothing,these OLD IDIOTS at least worked..............
Their not due the disrespect in your post IMHO. The LEECHES of humanity are.
Mako, I don't know how old you are, but the old "system"--i.e., gold-backed dollar receipts--died when I was still in college and that fool, Nixon, caved into French pressure and ended convertibility. So your statement, "The system simply ran out gold to support your lending nd borrowing long before any of you guys were born.
The central banks are doing exactly what you have commanded them to do... pretend a system based exponential growth is sustainable long-term " does not apply to yours truly. I have always hated the result, because it is inherently unstable.
Although a neophyte economist at the time, I understood all too well exactly what Nixon's treachery meant for the USA and the world at large--that we were doomed to evolve into a global con game once the so-called reserve currency became a con game itself. I well remember having numerous conversations with one or two relatives who understood this equally well, if not better than I, and the moment we have always feared since then is that time when the masses understand.
We are not quite there yet, but the evidence is mounting that reality will kick them in the kidneys very shortly. Academics who are employed in the California state university system have already seen salary cuts of 10% or more (I am sure than other non-unionized personnel have suffered as well, but have no data). If the State of California is slicing into one of the most sacrosanct sectors of state employment--tenured professors--the unwashed hordes cannot be far behind.
The Japanese have been living this nightmare for years now, and to date have reacted, for the most part, exceedingly calmly (although essentially nobody there reproduces anymore, and some very strange social artifacts have surfaced); most people who rent just ask their landlord to adjust the rent down every year, which he does. Their salaries are also adjusted down every year, for the most part, and prices of necessities have been slipping for decades.
The question that remains to be answered is, are we Japanese enough to weather this with equivalent grace? I rather doubt it, as our habit has been, for at least the last hundred years or so, one of extreme gracelessness, which is likely to intensify, not decrease. I really worry about what will happen when the average Joe realizes jus how badly his government has served him. I don't, however, agree that there will be an immediate systemic collapse, simply because the Joe in question listens to the mainstream media, if he follows anything beyond lotteries, weather reports, and sports.
But if he tries to cash his paycheck, assuming he still has one, and finds that a) it bounces, b) his bank has closed, c) his company's bank has closed, d) he can't get a cash advance from his ATM anymore--yes, then it's pitchfork time. So we'll have, at best, perhaps a week's lead time...
Bob Prechter will be right one day when he say's Gold will be below $*300
The problem is it will be in New dollars $* (think what happend in Turkey 1 New lira = 1,000,000 old Turkish lira)
Thats the tried and testest play book from 2006.
That's just stupid (is, does or otherwise).
As usual, the one who calls others dumb is the dumbest of all..Do your 30-year charts include an episode of largest currency crisis experienced by the system? If your answer is no, your charts are completely useless..How many times are we going to say this? Historical charts mean absolutely nothing at extraordinary times..If you still don't know this, short gold and go long on stocks.We'll speak again 1 year from now..
"...If you still don't know this, short gold and go long on stocks.We'll speak again 1 year from now...."
I don't think so..... That is, I don't think that I'll be in any condition to speak with you 1 year from now, if I short gold and go long stocks..... They'll be busy scraping me off the ceiling with a spatula.....
Then following your logic, the charts that show sovereign debt hockey sticks must also be topping, too?
Does this guy ever offer an alternative form of wealth preservation or does he only serve to scare and confuse people who are already scared and confused?
I have two simple words for you: GOLD BITCH!!
JW n FL
please you dumb cluck ,, did you read ..
on a scale of 1 to 100 in th smarts department your post rated a -1
At 2:00 AM on the glide path to bed, I salute you both for helping alert Americans to survive the financial swamps to come.
Gold, to the moon, Alice.
The 30yr charts do not mean shit NOW.
We are in totally uncharted waters.........even here, most people have no clue what to do for SURE, but they do have a Plan.
What Was before, the NORM, (as in the 30yr chart), has never seen anything like we are in..ever.
So, the books are being rewritten....one day at a time.Look for NEW 30yr charts, IF your around in 30.
JW, your charts, and any analysis to be derived from them, have been rendered moot by historically unprecedented events. You're trying to drive by only looking in the rearview mirror, and are failing to notice the moose in the middle of the road in front of you that you are about to smack into.
Ignore the 30 year charts at all costs? http://goldprice.org/30-year-gold-price-history.html
The only logical conclusion I can come to from your post is that you think that financial conditions that led to the spike in 1980 are about the same as now. Serious?
When you are going to cash in on your GLD....? and to what? and what will be left?
Answers: when you are hungry; food; some poor fertilizer, so you grow the next crop yourself.
That's the problem with GLD. You gave them a "loan" that will never be repaid. Should have sought physical delivery from the outset.
Not to late to BAIL on GLD,and get physical.
Next week may be............but, the ship has not sailed yet, the Dealers are still taking FRN's right and left.
No, no the people at Matterhorn aren't listening. They should hire Leo for his insights about future trends,
Thanks for quoting me, and as far I can tell, calm is restored and the markets are heading up again. Not good for gold.
Thanks for quoting me, and as far I can tell, calm is restored and the markets are heading up again. Not good for gold.
"It was not the Wolfpack that caused the problem in for example Greece but they can bring down a weak victim quickly and profit immensely and immorally from it."
Immorally? Is the author's mental image of Bambi (the "weak victim") being brought down by an evil "wolf pack?" NOOOO! Greece, the UK, the US and every other fiat-currency pozi scheme out there are "the damned"--the evil, walking dead! The spawn of Bernanke and Greenspan. In fact, he got it right later on...
"Thus whatever actions governments take or don’t take, they are damned."
Hahahahahahahahaahahah!!!!! (maniacal hahahahah again)!!!!
Immoral as in John Gotti shooting Carlos Gambino in the head.
One would think that Swedish finance minister Borg, of all people, would realize that when it comes to the market, resistance IS futile, and that he and his corrupt statist elites WILL be assimilated!
I was waiting for someone to run with that one.
Glad to be of service!
Let us just hope that the market does NOT add the statists' biological and technological uniqueness to its own!
Where's George Romero when you need him?
Wolfpacks make good fur coats for the long winter ahead....
Stand by for paper-bug threadshxtting... 3-2-1...
This is it? Shit, I better check the shipping status of my Mac book pro. Why must you post news like this while I'm taking a Dump? I hate rushing. Things don't come out as smoothly.
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