Nigel Farage To European Parliament: "The Euro Game Is Up... Just Who The Hell Do You Think You Are? You Are Very Dangerous People"

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Thu, 11/25/2010 - 14:11 | 754808 Spitzer
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does anyone here truly believe FOFOA's take on the Euro and freegold ?

It all makes sense to me but nobody talks about it.

Thu, 11/25/2010 - 14:39 | 754858 Non Passaran
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FoFoA was discussed (in ZH comments) this week.

Thu, 11/25/2010 - 15:30 | 754932 MeTarzanUjane
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Does any rational person who wants to make $$ believe in FOfucked? Nooooooooooo.

Thu, 11/25/2010 - 15:40 | 754956 Spitzer
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Sounds like a comment form somebody that is too fucking stupid....er sorry, unintelligent enough to understand FOFOA.

who wants to make $$

make $$$, oh the irony......

Thu, 11/25/2010 - 15:43 | 754964 Attitude_Check
Attitude_Check's picture

I want to make ZIM $'s.  I could be a Quadrillionair in less than a week!!!!!!!!!

Thu, 11/25/2010 - 15:50 | 754967 MeTarzanUjane
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Central Unintelligent Agency bitchez! AKA: FoFoA, FOfucked.

Thu, 11/25/2010 - 18:03 | 755140 Spitzer
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The marginalisation of FOFOA even on Zerohedge and comments like this are the perfect sentiment that will probably prove the FOFOA theory right.And even allot of goldbugs with their leveraged positions in the paper gold market will lose. Remember, the market goes where it will burn the most people so under freegold, fiat bugs and allot of gold bugs will lose wealth.

FOFOA is a nut right ? yeah...he's full of shit, cant be true....

Thu, 11/25/2010 - 18:33 | 755159 MeTarzanUjane
MeTarzanUjane's picture

Yes your man might be right but from first hand experience I can tell you that the market can stay irrational longer than I can remain solvent. That applies to almost everyone that I know.

As a result I never become emotional about what I trade. Never a bug or a preacher. Just trade dispassionately with my stomach. When it burps if it smells sweet I buy, sour I sell.

I do like you emotional traders, you're fun to fuck with.

Thu, 11/25/2010 - 19:05 | 755177 Spitzer
Spitzer's picture

what I trade

Just trade

emotional traders

 

hahaha, some people's wealth is beyond your mouse clicking, day trading bullshit and that wealth is typically not created with mouse clicking, day trading bullshit.

 

 

 

 

Thu, 11/25/2010 - 19:22 | 755184 MeTarzanUjane
MeTarzanUjane's picture

Keep guessing goldbug.

Thu, 11/25/2010 - 19:37 | 755190 Teaser
Teaser's picture

you're a real fucknut, you know that?

Fri, 11/26/2010 - 00:46 | 755471 tmosley
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Trading this market is like looting a burning building.  When the roof collapses, you are probably going to be trapped in your positions and lose everything.

Holding physical gold and silver will not negatively affect your solvency.

Fri, 11/26/2010 - 01:42 | 755510 DaveyJones
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Like the analogy

Sat, 11/27/2010 - 13:20 | 757497 Reese Bobby
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Yes, you have to be a real genius to understand that gold could be the final store of value.  If only others were as smart as your painfully dumb ass...

Thu, 11/25/2010 - 15:41 | 754959 LeBalance
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Make a point or stuff it.

Thu, 11/25/2010 - 16:06 | 754962 Spitzer
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dp

Thu, 11/25/2010 - 16:05 | 754965 Spitzer
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dp

Thu, 11/25/2010 - 16:05 | 754969 Spitzer
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dp

Fri, 11/26/2010 - 04:02 | 755564 e_goldstein
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it's not about making $$ anymore, you dolt. it's about reestablishing freedom for this generation and the generations that follow.

 

may the entire system crumble to dust.

 

Thu, 11/25/2010 - 14:58 | 754898 bank guy in Brussels
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That's a really complex and good question about whether the core European governments - especially the Germans - really have a different long-term game plan re currencies, perhaps in league with the Russians (key suppliers of European energy) and the Chinese as well.

They indeed may very quietly have a back-up plan for after the Americans are kaputski, for a currency backed by a basket of commodities including the precious metals, or something like what Jim Sinclair talks about, a currency whose quantity fluctuations are tied to precious metal reserves even if not directly backed unit for unit.

But what is true, is that there is A LOT MORE GOLD in private European hands than many people would guess, an ultra-private shadow 'off-the-books' element in a number of transactions and asset holdings. It is simply not talked about here in public, in the way that Americans do.

This is the heritage of the World Wars, and the European sense that you never know when 'the Nazis' or their equivalent are coming back. The US gov't in these decades behaves a lot like the Nazis, thus a constant reminder of the fascist problem and why some discretion is needed.

Thu, 11/25/2010 - 15:12 | 754908 THE DORK OF CORK
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One of the conditions for euro entry is that goverments cannot tax the importation of Gold.

Maybe this is a shaky bit of evidence for the Gold Bias in Euro land.

As regards Ireland I think the ECB may make a tactical retreat and offload this country under the BOE sphere of influence.

PS the Euro strength against the Dollar for most of the decade must have been a draw for Gold out of America as this is classically the case under these conditions.

Also the personal savings / low personal debt of the western continent makes owning PMs a likely option for the middleclass in Europe which on a mean basis are more numerous and wealthy then their American counterparts.

Thu, 11/25/2010 - 16:12 | 755004 Spitzer
Spitzer's picture

One of the conditions for euro entry is that goverments cannot tax the importation of Gold.

More evidence piling up for FOFOA freegold....

Fri, 11/26/2010 - 00:57 | 755479 outamyeffinway
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And Spain? Are they the back-breaker?

Thu, 11/25/2010 - 15:25 | 754935 Drachma
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Look out for a unified Germany.

Thu, 11/25/2010 - 16:08 | 754998 JLee2027
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Germans in league with Russians? Ummmm....no. 

The current crop of idiots in office (pretty much world-wide) have no master plan, except to stay in power.

Thu, 11/25/2010 - 20:32 | 755235 robobbob
robobbob's picture

familiar with Molotov–Ribbentrop Pact?

...no one is saying it would have to last long....

Thu, 11/25/2010 - 16:50 | 755050 Sudden Debt
Sudden Debt's picture

So true.

Take Belgium for example. The national portfolio which doesn't wants to reveal their gold reserves.

Also, where is Leopold II his gold he honestly earned in Congo go to?

Rumors have it, that would be a total of 2300 tons of gold that is now traceless.

Thu, 11/25/2010 - 17:39 | 755112 IQ 145
IQ 145's picture

 "Take Belgium for example" ; hmm. no thanks. You can keep it.

Fri, 11/26/2010 - 09:49 | 755687 Commander Cody
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I'll certainly take the Belgian brews!

Thu, 11/25/2010 - 20:24 | 755229 jeff montanye
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leopold ll was a cruel, cruel killer and exploiter.  he earned nothing honestly in congo but history's curse.

Thu, 11/25/2010 - 21:12 | 755265 Questionmark
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I'm pretty sure he was being sarcastic.

Fri, 11/26/2010 - 06:58 | 755620 Sudden Debt
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Yes I was. Leopold was for Congo what Hitler was for Europe.

Wed, 12/01/2010 - 21:21 | 770405 Violetta (not verified)
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Well said!

Thu, 11/25/2010 - 19:28 | 755186 whacked
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"The US gov't in these decades behaves a lot like the Nazis, thus a constant reminder of the fascist problem and why some discretion is needed."

 

So true.

Thu, 11/25/2010 - 21:02 | 755255 Scoutster
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Sad to recognize ourselves as comparable to Nazis. It's a sad time in our country's history.

Thu, 11/25/2010 - 21:28 | 755275 UP4Liberty
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Who do you think the Nazis learned their extermination and ethnic cleansing tactics from?  The good ole US...remember the Native Indians?

Thu, 11/25/2010 - 22:45 | 755341 Arthor Bearing
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To be fair most civilizations have stepped on some heads in their time. Even the fucking Mongols

Thu, 11/25/2010 - 22:49 | 755345 New_Meat
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don'tcha know.

relativism is such a wonder.

- Ned

Maybe we need a beer summit?

Fri, 11/26/2010 - 11:49 | 755800 hbjork1
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"To be fair most civilizations have stepped on some heads in their time. Even the fucking Mongols"

Yes, you can even ask the American Indians about effect that European immigration had on "OUR" country.  "This land is YOUR land, this land is MY land".   

So now that it is "our" country.  We can't blame the foreigners. 

Fri, 11/26/2010 - 05:14 | 755578 AnAnonymous
AnAnonymous's picture

The Imperial Japaneses too. Where do you think they got their assimilation procedure they used on Koreans from? Good ole US.

Hopefully  for the Koreans, the Japanese did not practise long enough so their attempt failed. If not, they would have suffered the same assimilative fate as the US negroes...

Fri, 11/26/2010 - 09:41 | 755681 115spider
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they learnt it from the 19th Century British Army (Back when Britain was the only superpower)

Blitzkrieg is based on their actions in India and Afghanistan. Concentration camps are based on the internment camps in South Africa from the Boer War.

There is a debate about whether or not Henry Ford had an influence on the content in Mein Kampf.

Wed, 12/01/2010 - 21:34 | 770427 Violetta (not verified)
Violetta's picture

oh for pete's sake, this is not nazi germany.  where are the camps?  where are the trains? where is the psychotic madman dictator?  let's stay real here.

Thu, 11/25/2010 - 18:37 | 755161 VK
VK's picture

FOFOA! Hahaha, the guy who believes hyperinflation is coming, if he waits a decade then sure, Benny is so incompetent, he couldn't inflate out of a helium factory.

Thu, 11/25/2010 - 22:40 | 755335 DoChenRollingBearing
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FOFOA may be right, or he may be wrong.  I don't know.  But he makes a plausible and compelling case.

I have been buying gold since the 1980s, probably before FOFOA even was a Friend of FOA.  His blog rings right with me, and I have learned a lot about gold there.  Gold is a big subject. 

Anyone with any wealth who does not own some physical gold is not holding the best insurance and the best wealth preservation out there.  Not owning physical gold seems MUCH riskier to me than not having any.

Disclosure: 7% of my net assets are in gold.  And a bit more in other PMs.

Fri, 11/26/2010 - 00:04 | 755432 Eternal Student
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I'm not sure what case he makes, as what little I've read seems to be some ad-hoc attempts to satisfy the wet-dreams of gold bugs through the use of incomplete and twisted logic. If there's a central thesis somewhere on his site, a link would be appreciated, as I do keep an open mind. But so far, the little I've seen appears to be far from impressive. The only other thing that I've seen are the crazy claims that everything is hyperinflation, from supposed FOFOA fans. I've seen people claim that when prices go up, that's hyperinflation. And when prices go down, that's hyperinflation. Truly a hammer seeing nothing but nails. With the predicitive ability reduced to below zero. Witness the recent miss by many who thought that the dollar was doomed, and about to implode last September.

So if there's a central thesis, please do share. I'd honestly be delighted to evaluate it.

 

Fri, 11/26/2010 - 00:58 | 755480 DoChenRollingBearing
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Eternal,

FOFOA foresees a big jump in the price of gold as its wealth preservation feature becomes more clear.  He also believes that the paper COMEX price is a bad indicator of the real value of gold.

He is saying that "Freegold" will come.  That gold will no longer be tied to any currency.  That it will just be allowed to float in value against other currencies, currency has no wealth preservation effect, it just promotes easy transactions.

I am grossly simplifying and overgeneralizing his line of thought.  To better understand his case, you will have to go to his blog, and do a LOT of reading.  If you LIKE gold, then I would encourage you to do it.  If you do NOT like gold, then the rather large time investment and brain effort likely is not worth it for you.

I kind of think that those of us who buy into (even partly) may be bad spokesmen for FOFOA.  His blog is the best place to understand his case.  Like Ron Paul's fans (me inc.).  And unfortunately, it is a fairly hard slog to figure it all out.  Been hard for me anyway, and I think he has a lot of knowledge and expertise to share.

fofoa.blogspot.com

Fri, 11/26/2010 - 01:16 | 755489 Eternal Student
Eternal Student's picture

Thanks. I was looking more for his own condensed view of things. From what I've read so far, it's not worth the time when it's apparent that he doesn't understand the big picture or the dynamics. Or so it appears, from my limited reading. I fully admit I may have missed something. But if one can't condense things down so that one's grandmother can understand it, then you don't know what you're talking about (to use Enrico Fermi's famous quote).

I do apparently agree with a number of points, but from what I've seen, he doesn't understand what will happen before then. E.g. I agree that the dollar will eventually destruct. But a number of things have to happen before then.

I would beware of being long gold. Gold and other asset prices collapse when there are massive margin calls. But I am invested in Silver and will be picking up more shortly. When certain key COMEX watchers use the term "breaking the bank", that is noteworth, IMO.

Fri, 11/26/2010 - 01:32 | 755498 DoChenRollingBearing
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@ Eternal

Here are some of FOFOA's own words, making his case in as few words possible at the request of one of his readers:

Gold is not going to back the M1 or M2 or some basket of international currencies. It is not going to be some sort of NWO gimmick. It is going to float, just like it does today, only from a much more restricted supply once paper-promise-gold hits that inevitable wall. 

So if you'd like to get in on the receiving end of this transition, Buy. Physical. Gold. Now. As someone once said. The non-inflation adjusted value of gold, its value relative to today's prices, like a $2 loaf of bread, is going to somewhere between $30,000/oz. and $100,000/oz. once we're dealing with a global physical market. That means an ounce will be worth between 15,000 and 50,000 loaves of bread, anywhere in the world, just to be clear, since I see so many people say "what good is $50,000 gold if bread costs $100?" 

How's that? Is it direct enough? Or should I work on my delivery?

...

From his comments section of his article of November 5.

Fri, 11/26/2010 - 02:27 | 755532 Eternal Student
Eternal Student's picture

Thank you. Also for what he means by free gold. I'll have to disagree with the "now" part. But on a longer timeframe, it sounds like I'd be in more agreement.

As for now, I'm buying wheat berries (not flour) over gold. There's going to be a tremendous buying opportunity for gold later on, IMO.

Fri, 11/26/2010 - 05:58 | 755593 ColonelCooper
ColonelCooper's picture

+1 Country Living grain mill.

Buy both.  It seems to me that if you are concerned enough to be prepping food, you are making a rather large assumption that there will be buying opportunities for gold later.  You may be right.  But if you aren't, what does it hurt to pick up an ounce or three now? 

Although I would say that if buying a couple ounces presents one with a financial strain (not making assumptions about you in particular), they are much better off with the wheat berries. 

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