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Morgan Stanley Boosts Gold And Silver Price Target, Raises 2011 Upside Gold Forecast From $1,380 To $1,512
From Morgan Stanley's Peter Richardson, who has just become one of the bigger gold/silver/platinum/palladium/platinum/rhodium bulls.
- Identified and implied investment demand has increasingly become the main driver of demand in the gold market. Since 2002, investment demand as a percentage of total demand has increased from 14% to 41.4% in 2009. We expect these percentages to rise further, to 46.9% in 2010 and 48.9% in 2011. In Q2 2010 alone, investors bought 274t of gold via exchange traded funds (ETFs).
- This development is predominantly a measure of fear regarding the purchasing power of the world’s major fiat currencies, especially the US dollar and the Japanese yen. In our view, investors have become increasingly concerned about the risk of a protracted period of deflation and low growth in the developed world. This has raised demand for investments that retain real purchasing power in a period of falling prices and weak demand.
- However, judging by the flood of money into inflation-adjusted government bonds as well as gold, investors are also worried about future inflation. This paradoxical fear of current deflation and future inflation has its roots in the anticipated policy response to the current US, Japanese and European growth environment. Most notably, gold investors are concerned about renewed quantitative easing (QE) and an anticipated expansion in liquidity and currency devaluation that is also viewed as potentially inflationary, fuelling the demand for real assets that preserve purchasing power.
- Gold has been a particular beneficiary of this safe-haven demand since the US FOMC alluded to the possibility of renewed QE in the minutes of its September 2010 meeting. However, this allusion also coincided with resurgent fears over the European sovereign debt crisis following news of higher bank bailout costs in Ireland, rating downgrades in Spain, and concerns regarding capital adequacy of European banks following the publication of Basel III guidelines.
- In addition, despite these resurgent fears over European sovereign debt and the health of some European banks, European central bank net sales of gold actually fell in the first year of the third Central Bank Agreement on Gold, to only 6.2t. Given purchases by non-European central banks, the official sector is likely to be a net buyer of gold in 2010, and net selling will probably be smaller than previously anticipated.
- As a result, we have raised our 2011 gold price forecast in our base case by 14.3%, to an average US$1,315/oz, and in our bull case, which anticipates a more aggressive level of dollar weakness and a protracted period of negative real interest rates, we have raised our price forecast to US$1,512/oz from US$1,380/oz.
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so does this mean they are loaded long already? ready to sell?
like satan saying we have to do something about sin
http://finance.yahoo.com/tech-ticker/obama-and-bernanke-agree-if-we-don't-fix-the-deficit-we're-screwed-535476.html?tickers=tlt,tbt,udn,uup,%5Edji,%5Egspc&sec=topStories&pos=9&asset=&ccode=
1512, lol. Will Roubini came out ranting again on how ridiculous anyone could think gold goes 1500?
btw, Dec10 gold on Globex is 1343.90 last. Dec10 silver is 22.91
What's the damage for october 10th. If gold makes it to 1360 by then. Like 90 million?
9:15pm pacific time, Oct5: gold 1343.90, silver 22.91.
/waves @ Turd & smiles.
And now, gold has surpassed $1350/ounce. Yeah!
Taleb said at a mutual funds conference in Manama, Bahrain today. “Dubai has been borrowing to put buildings on postcards. It can stop that, but America needs to borrow just to open the doors in the morning. That’s why I’m not comfortable with the United States.”
Just as bad (Taleb is the author of "Black Swan")
i think they were heard saying "saying Satan doing something about sin is government business now."
Damn Bitchez
Nothing like 20/20 hindsight. That's why these guys get paid the big bucks.
Looks like this will mark a short term top.
Yep. It's overbought and that giant green boner is never a good sign. All we need is for GS to come out with the requisite $2000 December 31st target.
notice the relative under performance today in the miner equities. they popped, sold off much of the day and finished blah
looks like only PM ETFs flew today
and the physical
FCX thru recent hi @ 89.90; could be headed back to 120ish
Mining shares are probably rigged via those DTCC naked short. These crooks are all over the place naked shorting every gold related investment.
could be. today was lackluster considering the move in the metal price. i was able to unload some oct calls tho
i suppose you get certificates and let them shorted as much as possible so you can buy more ... :-)
not true for Ford Motor Company though, was it.
Upcoming dip everyone! Remember, FOFOA suggests that PMs could drop to the basement but physical won't be available - only the desperate will be selling.
surprise, surprise...
I.m confused . Havent we just passed his average expectation for 2011? What year are we in now? I can.t take it anymore. Where are we? What year is this?
Yes we did. This note from the bank is just meaningless babbling. It's the exact equivalent of a newsletter article. It just says babble, babble, quack, quack. They have no idea what percentage of gold sales are due to investment demand; they don't know anything at all. They tried to jump in and raise their future estimates and the market ran over them. The lesson here is don't read this crap.
There is a poster running around here who claims for himself an IQ of 150. Opens his posts advertising it. He goes by "Lord and Master." Since his is higher than yours, is he your Lord and Master? Just asking.
guys i got together with my mathmatician friend and just finished extrapolating the value of gold in dollars. It came out to be ∞
Adrian Douglas has calculated the price of Gold in dollars if the US went back on a Gold standard (assuming Ft. Knox still has 8,000 tons of Gold).
That price is $54,000/oz or M3/8,000 tons
http://www.gata.org/files/AdrianDouglasProofOfGoldPriceSuppression-07-20...
The problem is we no longer have 8,000 tons of Gold so going back on a Gold standard is impossible unfortunately. Or we do go back on the Gold standard with the Gold we have remaining (say 4,000 tons) and guess what? Gold would be $108,000/oz. Or if we only have 2,000 tons left then $216,000/oz .
Or, OR
We have NO GOLD LEFT. In which case you are right and its Infinity/oz.
perhaps a "Van Gogh" standard then.
Time To Get Off The Bus?
(Reuters) - Wealthy investors are retaining cash, buying gold and limiting exposure to risk in a sign confidence in a sustained recovery remains at a low ebb.
Recently refurbished and empty vaults to fill.
Come into my parlor, said the spider to the fly ;-)
Currency Fail, Epic.
Long guns, night vision, high power lasers.
Something wicked this way comes.....
What do you like for night vision? I have a couple cameras that are always on that do various ends of the spectrum, but feel kind of overwhelmed when I look at the goggles and stuff.
Greatest thing about NV is driving at night, in a snowstorm, with headlights off.
Do you have a brand you like or a price range where I should stay? Hubby would love it for Christmas. We don't typically buy top end, but mid to upper mid range where quality is good, but maybe it does not have every possible bell and whistle (but you could get them later, maybe?). He needs to be able to shoot...
Good night vision is crazy high now.I bought mine long ago in the 90's before 911 hit and drove the price to the moon.I have gen3 and gen2 scopes, both made by ITT...the same company that makes stuff for our military.Removing my Gen3 scope from the CONUS requires State dept permission..hee hee.
I recomend ITT NV gear...but it is now very expensive.Expect to pay 2500+ for a good gen3+night vision scope.
Military demand due to the war on everything that moves has driven it to the moon.I recommend gen3 for weapon sights...a good one will be a lot of money.
More than 2500, which is for a viewer.
Currently the ITT PVS-14 is 3995. That is a very good night vision viewer.
You can't take it out of the CONUS or export it without State department permission.
Ah, well that's out of my "recommendation by experience" zone. But, from what I've read over at survivalblog, you get what you pay for. A good hound, LP/OP shifts, and ACOG is more reliable and survivable; IMHO.
if you are going down this road, go Gen 4. - you need to " own the night". and, hey, put out that cigarette - your lighting us up!
http://www.amazon.com/ATN-Mars6x-4-Night-Vision-Riflescope/dp/B0019D4VLG
once you look thru a scope like this, you will wonder how you possibly could have gone to sleep without one. The other thing you haven.t ever really thought about, but will instantly see the value of - is armored vests - there are many lighweigut vests , that will stop even a military round to the torso. If you are wearing one - you walk away. If you are not, you will have a great deal of trouble breathing, in the moments before you die. What is you life worth to you? For ten thousand dollars, you could have both of these on you by the weekend.
scares the heck out of your mother i bet.
Get at least a Generation III device, and preferably Generation IV. The difference between generations is dramatic. Of course, the newer stuff costs substantially more.
Check this out to see the difference in clarity:
http://www.garysdetecting.co.uk/night_vision.htm
make sure your NV takes rechargeable batteries or they will but useless in short order...oh and get the little solar rechargers. slow, but does the job.
papaswamp,
I asked waterwings a couple questions. If you see this and feel like weighing in more on the topic, I would find it helpful. We have solar rechargers, though I don't know what voltages we have.
Really? Really?
These morons couldn't find their ass with both hands.
As I've maintained for months, gold will trade at $1500 before 12/10/10. What will these buffoons say then? $1550 in 2011? This report is not the paper it printed on. Shit, even the fiat in my wallet is worth more than this nonsense.
It's a bold call and I'm certainly not saying your wrong but wouldn't 1500 by 12/10/10 pretty much signal a rout of the EE? I'm trying to think of how the MSM will respond to that kind of a move and that kind of year to year gain. Seems like something like that should trigger a panic in fiat, wouldn't they do nearly anything to keep the game playing a while longer?
I see your point. However, $1500 is only a 12% move from here over the next two months. Not only is it possible, it's likely.
I posted what's below on an earlier thread. I'm copying it here because I think it works, metaphorically, quite well.
Have you ever seen one of those coin drops in an arcade where you drop a quarter and it rolls around inside a funnel? The funnel, as funnels are built, gets more and more narrow toward the end causing the quarter to circle faster and faster. Finally, the bottom simply drops out.
In our dying Keynesian system, the quarter was dropped in 1971. It began moving faster in the late 1970s. When the Japanese economy collapsed in 1990, the quarter moved faster still. Through the 1990s, the spiral got even tighter. Finally, in the 21st century, well...I think you get the idea.
We are now at the bottom of the funnel. Competitive devaluations, orchestrated by foolish, Keynesian-inspired central banks worldwide have brought us into the final stage where gravity finally takes hold. The spinning stops and the bottom simply drops out.
The best anyone can do is simply protect themselves and alert any friend or family member with the courage to listen. Again, buy everything. In the near term the price of everything is going much, much higher.
What bothers me is looking at 1500 in a few months and actually being able to think "Yeah it's only 12% in two months that's totally doable..." when that kind of return in a year would normally be prized. Sure it's because we are past the event horizon heading deeper into the singularity but still an odd thought. Truth be told it worries because I know the system will collapse but every day more events break and the system holds on. It takes on a degree of normalcy, which is deceptive. I'm as prepared as I can be (but more time is always better), but man I would really like to see this train slow down the ride is going to be rough.
Hell maybe people won't notice gold at $1500 either, but it seems to me if it keeps making those kind of huge price moves eventually people are going to pour in. Good analogy too, things do feel like their speeding up, even if the system keeps the facade up.
Liked the metaphor, a lot.
I liked it, too, the first time I heard it. Joe Granville used it back in the 70's, only he called it the "bathtub analogy":
When the tub is full with the drain open, though water is running out, it will look full for a while. As the level drops, the bather can see the water moving faster and faster in a whirlpool fashion, until, in a terminal move, the remaining water just vanishes.
Nice. I like it.
Tyler.. seriously, I mean honestly.. how the hell do you get hold of these reports?? you are simply a champion, please consider being on Max Keiser show again (this time we don't wanna see Brad Pitt's picture)
It isn't like we don't know who you are.
And whatever your past may hold, like Jean Valjean you have redeemed yourself in spades.You are a real hero Tyler (at least to me).
Besides, the scumbags from the lower circles of Hell know who you are anyway...and the fact you continue on makes your heroism even more Epic.
You and ZH rule.Totally.
I would rather he/they stay semi-anon...like us.
http://www.youtube.com/watch?v=CydPIf3b-Mc&feature=related
I really don't believe TPTB don't know exactly who I am.
Privacy in Amerika...not so much.
If they want to know, they can find out...and damn quickly too.
Without going into great technical geek lengths...my point was Ty & staff have gone to great lengths to stay as they are...semi-anon.
Just like us...I don't care so much about who they are, but what they say and is it accurate. So far they have been dead on with PM's. Dead on with HFT. Dead on with mom & pop bailing. Dead on with POMO...etc.
For myself...not really worried about it. No one except for the occasional crazy has said anything that isn't said around any barstool or over the dinner table.
I don't think Americans fear anything...in fact I think it's the opposite...or they wouldn't be watching so intently would they?
Which opens up all kinds delusional possibilities on their part...not ours ;-)
Yep - "new" random posters with contrary views - most often useless; sexual in nature to easily deter new faithful - all part of the show - they are out there.
America severely needs a day away from the teevee.
Yeah, I've been wondering for the past week if the gov and bank troll payrolls are skyrocketing.
I bet they are...so many more trolls/disinfo shills are on now.
luckily, most of them are very obvious.
people are always telling me that i look like brad fitts .
While I enjoy your vigor, I disagree completely with the need ever to see TD. The work on this site speaks for itself and represents itself perfectly as is, however abstract that concept may be.
$1512 will most likely be breached THIS year...
The mortgage mess is a black swan. Why pay your mortgage? I'm sure some have decided to buy Gold and Silver instead. 1512 could be reached THIS WEEK if reality sets in.
"Oh yeah, I forgot to mention there's nothing but paper in the COMEX warehouse too, and it will default, but we still see gold around $1512 in 2011. Maybe $1513. Hang on a sec, let me pull another wild guess out of my ass."
FYI - ihave friends who have managed accts @ TBTF banks. those accts include NO PMs. had one ask his guy about this and he sneered at PMs
Reason #267 why the "bubble" talk about gold is complete bullshit.
Ain't no gold bubble:
http://v3.caseyresearch.com/images/Gold-Silver-Bubble-orig-100827.gif
Michael Pento calling gold at $1200 by the end of 2009 it hit $100 in December of 2009.
http://www.youtube.com/watch?v=qLiDY_npgNg&feature=related
There is another clip of him calling gold at $1350 by the end of this year. I cdon't know where it is though.
Like the Euro to 115 or Oil to 200?
Great, thanks
You'll get a firmer sense of the lowballing nature of the report when you drill down into their silver prediction.
The three figure sets are bull-base-bear:
2010: $19.40 - $18.47 - $17.55
2011: $23.27 - $20.23 - $19.22
Need I say, today's silver close was $22.89? We seem to be a year ahead of schedule.
And check out Jesse's silver chart today:
http://jessescrossroadscafe.blogspot.com/2010/10/gold-and-silver-daily-charts.html
Hah.
I posted a few days ago on another thread that I have sold my gold, and I did, apparently way too early. In any case, one of the reasons I explained for lightening up my PM is that I am buying a house with an absurd 3.5% down, and I assumed that would be a perfectly good hedge for a currency crisis.
But the oddest thing has happened. Chase, my lender, cancelled my closing on Monday and has now cancelled the reschedule closing for Wednesday, leaving me with a promise of a Friday closing. They blame a "computer glitch". My attorney, in his 30 years, say this is the first time he has seen something like that. Now tonight I get home to find some auto-pays through PayPal have failed. Another "computer glitch". Anybody else seeing anything like this? Am I just a random victim of a few rebel electrons or are is there a more organized revolt among the lot of them?
The PayPal thing seems anecdotal. The Chase closing "issue" is very strange, however. Very strange.
Fear of commitment, perhaps? Maybe a little issue with title insurance risk?
Electronic runs on the banks can show up quite weirdly in this new age!
Excuse me while I go check my Paypal account...
Not a glitch per se, but I had a wire transfer from a TBTF (closed the account.) It was sizable, and supposed to execute Monday of last week to fund a PM purchase.
It executed yesterday -- a full week delay on a promised 24 hour turn-around; the paperwork and accounts were flawless, and there was no explanation as to why this occurred.
Fortunately I was able to execute the PM trade with an alternate account. It's profitable already.
Okay, doubt this is the same thing, but I paid a bill on line and even had a receipt for the transaction. It should have posted on line the same day, I did not post it after 7:00. I paid it on September 29. It did not leave my account until October 2, this past Saturday around 10:00 am. I know because I kept checking and was weirded out. Had never happened before.
TBTF bank or smaller? I wish we could do broadcast questions here, now I'm very curious if there are widespread banking glitches -- mostly because it could suggest there's software work going on. If there were going to be a currency revaluation, for example, I'm better a lot of back-end work would have to happen and it'd be hard to pull off even over a 2-week holiday.
The one week delay is diagnostic; it's called a float against the client; they stuck the money in an interrest bearing pool for a week; on the principle that there's really nothing you can do about it. I had Citi-Bank do that to me for a month in 1981; closing out your business with them is the correct response.
Speaker: If you live in FL, Tyler would like to speak with you...
http://www.zerohedge.com/article/are-all-florida-real-estate-transaction...
Just saw that. I am in NY, but feeling a little wobbly just the same.
@SpeakerFTD
I just closed a ReFi with Chase which was supposed to be no out of pocket cost to myself. They added $850 to my principal and are trying to pass it off as an escrow shortage. Funny how my last several years of lump sum escrow shortage adjustment in January have been under $200 each year. I called bullshit and they gave me the line that their system is down and they can't access my old loan information. So no, you're not the only one.
Is this a problem with a bad title perhaps from the previous owner? Multiple title agencies have said they will stop writing title insurance. I STRONGLY suggest you get a lawyer to review your title insurance if you get it.
For those who do not follow Armstrong, we are at the early phase of completing the end of a defined, 11 year cycle that will hit resistence at (per his charts) at the $1350 level with probable extended move higher into year 2011. For those who do not know Armstrong, he is a known genius in time cycle theory, tech analysis, etc. ...so much that the feds have had him him "squelched" in prison for last 10 plus years. He favors a normal correction near term. The japanese seniors will most likely take gold to 5 digits US in my view.
No reason to trust Morgan Stanley and believe their estimates. They've been wrong all along and missed calling the ending of the Cold War too.
Seing the Non-manuf ISM popped due to exports I think the Fed will continue with its policy. The key will be if other countries move to protect their exporters and a serious trade war breaks out.
Some contributor here at ZH called for a bottom a some time ago when gold was at low 1000s. Who did it? (I'm not sure if it was Nic Lenoir). Best call this year!
Asian markets up. Gold at $1342.
Like myself, the BOJ must be flabbergasted at their amazing powers to lift global equities and commodity prices by cutting their interest rate from .000001 to 0000001.
I have heard reasons of sorts but it doesn't make perfect sense that major gold stocks like,gg,abx,nem are lower in value than they were years ago when gold was below $800,does it make sense? I can't figure it.
It's nature's way of telling you that you didn't want any gold stocks to begin with. The rationale is that you can obtain leverage vis a vis the underlying; this is done by buying metal on margin; the fact that they're stocks exposes you to so many potential problems that it just doesn't compute as an investment.
Don't know about anyone else, but I'm sure pulling for Jim Sinclair to win that bet of 1M if gold hits $1650 by Jan of 2011. Mr. Gold Bitch himself...he puts his money where his mouth is.
Hey Gartman, how's that short POS position working out for you Mr. Gold Douche? And Nadler is shitting himself knowing his allocated accounts are probably WAY short of the physical backing they need.
Gartman on CNBC today calling for a pullback of ~$150 and then higher!
Has he seen the light? Can't find the video.
Monday, one of Canada's papers, the National Post, had a web-chat with Gartman and John Ing. Ing, of course, recommended a base position in gold, which he said should be a "pyramid" - physical at the bottom, ETF's in the middle (he said conservative investors should be sure the ETF holds physical metal not paper), and mutual funds/miners at the apex.
Some of Gartman's comments:
my take on gold is that it is egregiously over bought; the long term trend is to higher prices eventually, but in teh short run... the next couple of weeks, I can see spot gold trading down to $1190-$1220 rather easily- I see gold having a great deal of difficulty pushing upward through $1315-$1325 for the next several weeks, with the EUR at an important point as we chat. Shoudl the EUR tumble down through 1.3650 today, gold will come under some very real pressure. But again this shall be sufficiently only to take gold back to the $11.90-$1220 level. There we'll see a great deal of wailign and gnashing of teeth on the part of the late longs who've only just jointed the gold plated party.
Gold bars are not teh way to go becuase of the huge commission costs of buying anything less than $250K of gold. You pay through the proverbial nose when doing so in small job-lots. Buy GLD; the costs are materially less and the exposure is the same thing... and you don't have to keep the darned things locked up in some lock box in some bank.He's a douchebag.....thanks for pointing that out.
Do you actually subscribe to his daily? Have you ever read it? Have you read it recently? He's been long gold for a long time (mostly vs euro and gbp). He isn't short gold. He is, rightly, worried about a meaningful pullback. If you actually had any knowledge or understanding of the market and respected the price action you'd understand that things do not go up in straight lines forever. All he is saying is there is a high chance of a material ($100+) correction.
So stop your ranting and get your facts straight.
Yes, and as I noted a few posts above, on Monday he says gold will have trouble going above $1325, which it does the very next day.
As for pullbacks - duh. I've been long since $275/oz, and yes, there's been some big - and I mean big - pullbacks along the way. But the underlying macro position hasn't improved (to indulge in some understatement; the macro situation has massively deteriorated!), ergo, the reason to own gold hasn't changed. If you think you have the skill to trade in and out, go ahead. I'll sit on the position, save the commissions, and wait for the end game.
Wow, and they get paid for those predictions? Here is my bold prediction. Gold will go above 1325 before the end of the month and silver above 22.
Many are jumping up and down with joy today, Gold and Silver have exploded and the mining indices have FINALLY broken out above the level reached way back in May of 2006.
Happy days are here again, right? Well... "may God help us all"!
The recent news of massive foreclosure fraud and the fact that the entire mortgage backed securities market is now not even suspect, it is hollow to the core, means that the ENTIRE Western world's banking system is GONE, KAPUT!
Way back... on Sept 11, 2001 "It was Over" !!!
The Mafia/Bankers had their Reichstag Fire... Their "New Pearl Harbor". Now they are gunning up WW III to cover their tracks in the "Fog of War."
In reality it was over, the only remaining option at that point was for the Treasury to put it's less than pristine balance sheet in play which they did.
Now there is nothing left. Nothing at all that Treasury can do which leaves the only possible policy option left on the table, the Fed MUST destroy in entirety the U.S.Dollar.
The banks that were supposedly "saved" back in 2008 by TARP (which we humorously were told was "over" yesterday of all days!) are now more broke than they were back then!
ALL of their fraud laced mortgage securities and all of their phony "cross CDS swaps" with other banks who hold mortgage backed securities are now SMOKING, BLACK, EMPTY and HOLLOW HOLES OF DEFAULT, period!
Fact ... paperwork has been "lost" and forged, mortgages have been sold 100 times over and may still exist in 50 different "mortgage pools" means that NO ONE, NOWHERE has any idea of who owns what!
If you cannot add 2+2 together, then whatever evil smacks you in the face, you deserve!
Debt underlies the entire Western banking system, debt of all shapes and forms is now tainted and infected no matter who the issuer is. By extension, the Dollar since it is a creation of debt is now beyond burnt toast, it is just smoke!
We will look back at October 4th and 5th and see that these 2 days marked the beginning of the disastrous end of the Western debt based and thus fiat monetary system.
Gold and Silver are yelling, telling this.
But the stock market is up? Yes, there are those that believe the coming hyperinflation will be beneficial to stocks, Maybe, maybe not.
History has shown that an equity panic precedes the point in time where stocks go up because owners of cash dump it for anything and everything. In other words, ANYTHING is a better place for your capital than a currency that is going to zero.
The biggest loser, because it is THE biggest market of all, is the U.S. Treasury market.
Gold and Treasuries CANNOT both go higher in the long run. The Treasury market is wrong and Gold is correct because one has a fraudulent government behind it and the other has Mother Nature and natural law behind it.
Trust your gut... Mother Nature is not a fraud.
Do not jump for joy today ... this is another beginning of another end.
It is the end of Facist Finance and Mafia Business..
It is the end of the banking system, the end of the Dollar, the end of Treasuries, THE END OF PAPER ANYTHING!
Go ahead, don't believe!
Go on as if nothing has happened. You WILL have lots of company in a hell called bankruptcy, poverty, hunger and just plain ignorance. If you cannot see it now after this hammer has come down, you will never see it. Nor will you see the sledgehammer of complete collapse that is about to hit everyone right between the eyes.
Do whatever you can if you have not already prepared, as fast as you can because when this game stops EVERYTHING stops. ATM's, banks, distribution, government services, etc. etc.. You will be on your own and you will only "have what you have" and nothing more.
Make sure you "have" ..."enough"... in the "Right place"!
Viva LeMetropoleCafe !
'Gold and Treasuries CANNOT both go higher in the long run. The Treasury market is wrong and Gold is correct because one has a fraudulent government behind it and the other has Mother Nature and natural law behind it."
Indeed. Nice one...
Yup, now's the time to start raising physical cash
Good thinking, Dave. See some similar thoughts:
The original roots of the Fascist/Mafia Business Model are not difficult to trace in the United States.
They are from Big Oil, Wall Street Finance, Defense Contractors, even Big Pharma, but with timing in the 1970 or 1980 decades. The Vietnam War and deficit financing went hand in hand, a little recognized phenomenon.
Full blossom of the Mafia/Fascist business model, identified by a merger of the state with large corporate interests, took on new meaning after September 11, 2001. Now national security trumps everything, including the US Constitution, and civil liberties.
What came was license to commit financial crimes with impunity, provided the locus of criminal operations was a large corporation with direct association with the USGovt.
Witness the ruinous fruit of the tight embrace endemic to the Mafia/Fascist business model.
Witness the lack of prosecution for the perpetrators of criminal fraud. In fact, the larger the crime, the closer to zero is the likelihood of prosecution.
Witness the popular backlash in civil disobedience from non-payment of mortgage bills.
Witness the entrance finally into the arena of state courts, even some Supreme Courts like in Florida, Kansas, and elsewhere. Again, the defendant banks claim errors and mistakes, when the prosecutors are screaming fraud, forgery, theft, and corruption.
The Mafia/Fascist Business Model is so broadly affecting the USEconomy, like a grand latticework, that it is considered part of the American landscape, even grudgingly accepted as part of the system. It is diverse. A culture of fraud is engrained nationally, clearly perceived from foreign vantage points.
A series of public spectacles comes soon.
http://news.goldseek.com/GoldenJackass/1286398800.php
Willie was writing about this stuff when Durden was still in diapers
Well, see it's like this.
The FRN is backed by debt, itself it is debt. The true real values of these debts as expressed by the ability of the debtor to repay, are eroding out. The entire system itself is seeing a dilution of the value and moneyness of debt instruments because collective point of recognition is being achieved that the future will deliver contraction instead of growth.
So, the paper debtcrap is diluting versus real things.
you guys have an amazing amount of mental energy. did you ever think of "applying" it to "theoretical physics"? Quantam mechanics is of great interest to me and of course "markets are always real" so singing the praises of "I am God destroyerof worlds" can get a little old when natural gas refuses to move higher and the "manufacturey" for its uses explodes. in short "people have been working out there" and "even doing things" as well. God forbid if they make a fortune i guess.
Chase just called me. A fraudulent transaction on my credit card.
Strange - because that has not ever happened. They said they would issue me another card with another
number. Wonder if the fees, and rules are more in their favor with the new credit card.
And gold is still lagging Zimbabwe Ben's printing press.
ECB revalues gold holdings down this quarter. Did they find a few thousand tungsten bars or was it getting whacked by covering short derivatives. We were told they didn't sell any. Last time I looked the price of gold was up.
http://af.reuters.com/article/metalsNews/idAFFLA6LE6C020101006
Reality: gold costs $1350 (on October 06, 2010).
Analyst: gold will rise to $1315 in 2011.
proof: We need analysts like a hole in the head.