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80% Chance Of 40% Silver Short Squeeze
In the last 20 years, Silver shorts (in Silver futures, based on the Commitment of Traders data) has only been as high as it is currently for five periods. Four of those five periods were followed by considerable rallies in silver prices. The one period where prices flatlined (fell modestly) was a slow and steady rise in shorts (as opposed to the spike-like move currently). Of course, with near record amounts on the short side of the boat, it would seem clear where Silver should go next but this time is different we will be told.
- Jul 1997: +70% rise over 29 weeks,
- Nov 2000: -13.5% in 53 weeks,
- Oct 2002: +13.2% in 12 weeks,
- Apr 2003 +19% in 24 weeks,
- Aug 2005 +114% in 37 weeks,
Average +40.5%
Chart: Bloomberg
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whatever... I'll just wait for the collapse.
Keep it down so I can buy more for the rest of the year. I ain't in no hurry.
Sittin' on the top of the (silver) bay
wastin' time'
All the dumb money (and most everyone else) is short silver as it sits near support. Of course the other side is there were a lot of shorts in the yen a while back and they turned out to be right. It's going to be fun to watch.
Yet "King of Doom" Eric Sprott is selling -
http://canadianinsider.com/node/7?menu_tickersearch=Sprott+Physical+Silver+Trust+%7C+PHS
Interesting, I must admit. Well, fuck it! I ain't selling and that's that!
The guy running the business is selling but the people who idolize him are buying - sounds like a ponzi scheme if there ever was one.
Maybe... I made up my mind long before I heard of Eric Sprott. Doesn't mean I'm right though. We'll see.
With mining costs for silver companies at close to $24 per ounce in 2012 - only so far it can practically drop. I like this risk-reward proposal and I think the commercials know this - so long hedgie shorts!
http://seekingalpha.com/article/1303691-the-true-cost-to-mine-silver-complete-2012-figures
Somehow I am reminded of Sex Panther cologne. "60% of the time it works every time!"
Kinsey once wrote that 60% of men are 2/3 homosexual.
It's not easy to be both incoherent and completely wrong, but if you work at it...
Ah, now is all make sense!
Sprott always sells before he does another PSLV placement. The PSLV placement then puts more pressure on the physical supplies, which provides support for the silver price v. paper silver, which then encourages demand for another PSLV placement...
No, Boris is mean high ratio of gay Amerikan men. Silver price still is confusion.
I'm buying Silver at low tide. Will sell at high tide.
Where the tide is between now and then is not important.
Maybe that explains why I feel like 1/3 lesbian 40% of the time.
I tell my wife I am a closet Lesbian.
But more importantly, 80% of statistics used in casual conversation are made up on the spot.
I now realize that my wife is a lesbian trapped inside a woman's body. My chest is as hairless as an Apache's, and she keeps telling me how she loves that smooth chest.
Now I understand. 60% of women are lesbians 35% of the time. Or maybe it's the other way around.
can you be married to both a man and a woman and not be committing bigamy ?
about 35% of the time.
Once gay marriage becoms the norm, then triparte/plurality marriage is next on the agenda followed by beastial marriage.
Kinsey once wrote that 60% of men are 2/3 homosexual.
Well,I must admit I am a 100% male lesbian.
I once cleaned up the mess I made in the Garage. So... I must be about 1% female I guess...
If I was even 1 percent female I would never stop touching myself. Oh wait....
100% of statistics can be made to show whatever you want.................50% of the time.
"95% of statistics are made up right there on the spot..."
http://www.youtube.com/watch?v=IUK6zjtUj00
80% of this game is half mental.
I am not a Doctor like Mister Krugman,..but isn't that shares in PHS he's selling?
Maybe he wants a new yacht or has a new girlfriend?
Leave the poor(ahem) guy alone, he has enough silver.
Do you?
My 401k equivalent is full of PHS, I can see the building where its stored from my work.
Almost as good as looking at the picture of that dammed lake!
krug, the silver sprott is selling is not his. sprott's clients are redeeming their investment. the canadian economy went officially tits up just recently. housing in canada is deflating. jobs are disappearing. people are short of cash.
Never let the facts interfere with Krugmans illusions.
Based on his posts, sometimes I wonder if that's the real Krugman. I don't know if anybody could act like that.
Not Krugman
This Krugman sometimes posts coherent comments. I don't think the real Krugman is capable of that.
Exactly. The real Krugman is irrational, but his "authority" has been set by the "establishment" so the chumps who think they get power from the establishment go for the irrational, state sanctioned false narrative.
However, the twit knows not to evben attempt to answer this... which is why I have to tally how many times I ask him...
--------------------
Hi Paul,
You might have missed this question the last 10 times I asked it, so here we go for try number 11 (and yes, I will continue to increment the numbers until you answer the question):
If growth is defined in monetary terms and money is debt (interest bearing) please explain how exponential growth of debt is sustainable into eternity. If money (debt) exponential growth is not sustainable into eternity, then WHAT HAPPENS WHEN THE EXPONENTIAL MONEY (DEBT) GROWTH FAILS? I made the question bold in case you are having vision problems and couldn't see the question. Hopefully this helps. TIA...
Consequences of Krugman's Pimped Fractional Reserve Banking 2) - Poverty - Debt is not a choice
https://www.youtube.com/watch?v=juQc0rLdB-E
Do you get off enslaving the proletariat to debt owed to the people who made you and can also trash you like so much garbage?
Aren't you just a modern version of a well paid house slave? How's that reality going to resonate throughout eternity?
the real krugman is to much of a cunt or coward if you must, to enter fight club.....i could see some guy raising his hand and little pauly curling up in the fetal position.....imagine him as a child.....christ the shit he must have taken....him 7yrs old with his stupid fucking beard...
I want to see him fight William Shatner.
And this too: http://www.cbc.ca/news/canada/montreal/story/2013/04/05/montreal-anti-police-brutality-protest.html
the canadian economy went officially tits up just recently. housing in canada is deflating. jobs are disappearing. people are short of cash.
JUST like ours did, because the dumb pricks went ass up into property prices that were worth a $.25 on the dollar./Loonie.Said it would hit them and now it finallly has.Welcome the USA part deaux.
Australia will be the last one standing eh?
Bad luck Canada good try...
WRONG . it is Sprott foundation that is selling. This is not standard redemption.
Silver's buggest pumper Sprott is selling ?
ZH reader, it is high time you silver bugs moved to Gold.
1) Physical Commodity, Paper (debt), Miner Equity, Royalty Capture
2) Gold, Silver
3) Invested Assets, Reserve Liquidity, Net Customer Flow
In the case of Sprott, a nifty 3-axis matrix
"Selling" is MEANINGLESS without actually knowing how the proceeds are being used.
If you wish to you can look up the change in physical holdings of Silver Bullion by ETF's, in general, for the month of March. T he answer is very interesting; it's plus 83.1 Tonnes, Metric. I repeat; plus 83.1 Tonnes, Metric. This was very helpful to me in making my decision to buy December 2013 Silver contracts at $27.340 yesterday. It's often useful to do your homework if you want to know what's going on in the world around you.
Hey Doc Kruggy, STFU.....when were you an expert at SILVER??? You can keep writing your illogical senseless economic jibberish garble but you def aint no authority on silver so I suggest you SHUT THE FUCK UP YOU WORTHLESS JBAG.
That's not the real one. That Chuck Norris guy may be though.
Am the real Krugman
I think you have understated it...somewhat...
KrugTroll is running hot this evening!
Sorry, were you talking about Goldman, or the Fed?
Ponzi scheme implies asset creation out of thin air. Something you can't do with silver.
(and this, preventing banksters from tampering with it, was the whole point btw)
"The only money is gold"
JP Morgan testifying under oath to the US Congress.
Silver just follows gold and it is also money.
US Dollars are NOTES, a promise, a piece of paper signed by a couple of government bureaucrats.
I'll take my chances with gold and sliver.
Exactly. You will speculate.
A bet on governmental malfeasance, and on official currency manipulation and debasement, is not a speculation --- it is an acknowledgment of reality.
speculation involves the risk of taking it in the ass if you are wrong, Dr Kruger here would rather play it safe and just take it in the ass 100% of the time and not risk it.
No, he would rather YOU play it safe and take it in the ass 100% of the time and not risk it.
As opposed to speculating that I can find another greater fool to give me something of value in exchange for this worthless green on green picture of a dead guy?
krugman
been speculating since 4.00 silver .. and your choice time frame was a bet on solar panels in obums 300 million investment .. now an investment of 100 million to track the krugman brain .
The paradox is that if you like technology you have to like Silver evidently. And it you like Solar investment you have to love Silver.
The funny thing is that a short squeeze on Silver could come from a stronger economy ...
Since $ 1.00 here when my dad would turn extra paper dollars into silver dollars. And quarters and dimes.
My silver has cost me a bit more over time. But his is mine now so it makes for a nice average.
HOw do you call buying Treasuries? Investing? I will sell my Gold and Silver when the treasuries are fairly priced....
Wait for the Gold price when the Treasuries yield on the 10 years goes double digit. The only way this can be prevented is if people pay attention to what Druckenmiller has been saying. So far nobody pays attention.
Aslo if food commodities rise, you will see Silver rise. The relationship exists since Polybius visiting Portugal. The price of Calf in Silver has been multiplied by 6 !!! OMG!!!! ..... in 2,230 years though.... There are physical and technological constraints to the production of real present goods.
The USD is a figment of the imagination or an abstraction, all currency have always been.
Consider this: in 1260 the French livre was about 460 grams, but 1790 it was 5 -6 grams with a currency crisis in 1721 (John Law) and hte livre plunging to 2.5 grams.
I WILL SPECULATE THAT IN THE LONG RUN THE USD DOLLAR POST 1971 IS JUST A BLIP OR ABERRATION.
So, if you save in gold and silver, you're "speculating", but if you save in USD-denominated debt (or in physical USD paper), you're "investing". Is that so?
You seem to be totally confused about the difference between real value and nominal value.
I believe that Eric's fund sells at a large premium. He may be arbitraging the over priced shares for under priced metal (like CEF used to do).
Current premium's only .48%
http://sprottphysicalbullion.com/sprott-physical-silver-trust/net-asset-...
Sprott is selling physical to buy silver miners, simple as that, with current valuations so cheap....he did the same back in 2011: http://www.theglobeandmail.com/report-on-business/streetwise/eric-sprott-defends-selling-his-silver-units/article615848/
"Every dollar of money that was raised by selling shares of [the Trust].. was reinvested in silver or silver equities,"
Mr. Sprott is going shopping....be ready
So what Krugman is saying is to buy gold I guess...
Krugman!!! When the fuck r u going to answer this question????
"If growth is defined in monetary terms and money is debt (interest bearing), please explain how exponential growth of debt is sustainable into eternity.
If money (debt) exponential growth is not sustainable into eternity, then WHAT HAPPENS WHEN THE EXPONENTIAL MONEY (DEBT) GROWTH FAILS?
TIA..."
You, Mr Krugman, would know all aboual ponzi schemes, seeing as how the monetary system,(something of which you claim to know something about), thanks to the Fed, is based on one. Just like the govt. run Social Security. Do these ponzi's come with your approval? Don't be such a hipocrite and call things llike they are. Of course you will never do that, your statist world view would never allow the truth, simply because your world view is based on lies and deception.
Shortages are ocurring, and they promised Sprott a Greek isle. Or they have put a gun in his face.
When's the last time you poured a scotch for Jon Corzine?
sprott selling on behalf of stupid clients; or weak hand clients
Profit taking before the price gets hammered down before the price gets launched skyward.
Profit taking? Silver is at a three year low.
And if the price gets "hammered down", wouldn't that prove this article is wrong? And how easy is it to say, "Silver's price is getting launched any day"? Pretty easy, considering you doomers have said that for the last two years while losing half of your investment.
As usual, you not only obfuscate but outright lie.
For one thing, silver is NOT at a three-year low, as it was well less than $20 an ounce throughout the summer of 2010, which if I am not mistaken was less than three years ago. For another, you overlook the fact that the price of silver is up over 100% in the last four years, and up over 500% in the last ten years.
Your cherry-picking of data to support your disingenuous arguments is worthy of a PhD in Keynesian crackpottery.
Aint it always a trial for certain cocksuckers, trying to pick the cover which conceals best that they fucking pissed themself.
30 month low - whatever.
And who cares about where you have been when it is where you are going.
The trend suggests the price of silver is falling, and falling fast.
Actually, both the trend, and ALL of monetary history, suggest that you are wrong, and that it is the fiat US dollar which is falling and falling fast --- not to mention whatever remaining shreds of integrity, honesty and intelligence that you may have once held.
Good, let silver fall, I definitely look forward to some bargains.
Dear doctor
Please let ZH readers know when bottom tic is in.
Thanks in advance...
Integrity? Krugman?
Typical statist strategy to take a close-up snapshot and try to tell your own story, but when you pan out to the wide-angle view it's an entirely different scene.
What I'm trying to say is take the last 100 years of the dollar instead of the last 30 months of silver.
Where I am going is a new world.
In that world, money is honest, markets and things like Nobel Prizes are not manipulated.
I'll take the silver. You take the dollars.
We will both have the opportunity to test our beliefs.
Your bunker is not a new world; there are plenty of people who, for the last 40 years, have moved out of society in fear of a looming hyperinflation.
And by the by, I take it none of you doomers use dollars? Is that right?
I doubt it. You all talk the talk, but when it comes down to it, you all use dollars.
Yes, we do, because we are FORCED to do so by the COERCIVE power of the fascist, Big Brother state that you so dearly love and kneel to.
If your fiat currencies are so wonderful, why do governments the world over have to FORCE their citizens to use them, and not only outlaw but actively suppress any possible competition to their monetary monopoly franchise?
Why not open your wonderful fiat currencies to a little hard-money competition, eh Krugpigtroll?
But oh no, but you can't have actual monetary freedom running rampant now, can you?
Maybe the currencies get used because 99% of people have brains attached to their spines and aren't doomers like you and your ilk. Maybe it is the people who run the government. Have you thought of that?
No, you haven't. You assume everything that is done under the governent is by some evil minded jewish banker.
Public schools? Evil jewish banker.
Unions? Evil jewish banker.
40 hour work week? Evil jewish banker.
Road construction? Evil jewish banker.
It is not entirely the people who are misled. It is the entire fabric of people like you who are misleading.
98% loss in the value of the dollar? Evil jewish banker.
Wow!
That might be the very first time I ever encountered a strawman, a red herring and an ad hominen all wrapped up in one tidy package!
So much for the logic and intellectual integrity of Krugpigtroll.
It is difficult to know how to even begin to address any of your specious non-sequiturds here. But it must be acknowledged that I never, at any point, brought up any mention of Jews, whether in banking or otherwise --- that would be you who did so. So nice if feeble attempt to deflect the real topic here, which was the coercive nature of fiat currencies.
Now, do you care to honestly and directly address that issue?
EDIT: As expected, nothing but crickets from Krugpigtroll. Which is only per his usual modus operandi: "I came, I shit, I fled".
LOL
Now are you speaking of the real Judeans or the fake ones?
Here's a lil insight on the "people" who wish to control the world. Written many years ago.
Rev 2:9 I know thy works, and tribulation, and poverty, (but thou art rich) and I know the blasphemy of them which say they are Jews, and are not, but are the synagogue of Satan.
John 8:44 Ye are of your father the devil, and the lusts of your father ye will do. He was a murderer from the beginning, and abode not in the truth, because there is no truth in him. When he speaketh a lie, he speaketh of his own: for he is a liar, and the father of it.
Wow can it be more evident than that who is attempting control today and 2000 years ago?? Yip yip its the serpent hisself. Dooolllp!!!
PS DR Kruggie I have no idea if you are aremenian, canadian or jewish as it doesn't matter. Who you serve DOES. I have no idea whom you serve. I just wanted everyone here to know who controls this world and it aint the people from Judea.
Use dollars? Of course, you ignorant fuck, that's what we have as the common currency.
What about savings? Fuck you and your 36, oh 30 months, whatever....bullshit.
50 years ago a gallon of gas was about $.25/gallon and could be purchased for a 90% silver quarter.
That same 90% silver quarter will still buy a gallon of gas (plus a little more).
If you're the real Dr. Krugman you're either stupid as fuck or highly corrupt (the third choice is some combination of the first two).
Im not a doomer, Im a pirate. (duh) And yes, if taking the dollars that I am readily given and rapidly exchanging them for something of greater and longer lasting value is using them; then yes I do......I imagine that if I gave you dogshit and you could find a fool to trade you silver for said dogshit, you would "use" it too....paper=dogshit ergo krugman loves silver.....my work here is done.
Yes I am a doomer,
a few months too early,
The cannons don't thunder,
There's nothing to plunder,
I'm an over 40 victim of choomer.
Never meant to last,
Never meant to last
Well processed tobacco was costing about $20 USD in 1971 and now about $650.
Processed tobacco can not be manipulated because it is not traded in future markets.
The demand and supply are very very stable.
After the demonetization of Silver of 1873, while the demand was booming, price of Tobacco was falling because we had money deflation (not credit deflation). money deflation is wehn the monetary base shrinks or increases slower than productivity.
Now this move on processed tobacco since 1971, I call that hyperinflation.
Low inflation is 5% for Tobacco prices and high is about double digit since 1971.
This madness since 1971 has no precedent in history. The assignat and mandat were quickly followed by sound money. The debasement post 1933 eventually led to Bretton woods, the 1797-1821 paper pound was probably the closest to today. A state of permanent war for the UK, like today a state of permanent war for the US. Even the high inflation up until 1919 was stopped through the calls of Kemmerer and others.
This is a sordid period indeed, of permanent war, mob rule through this despicable demagogry called "democracy" which is the equivalent of the Emperor of Rome having to rule with the objective to please the crowd at the Coliseum. This is an ugly period that some crazies and lunatics have managed to fall in love with.
Hopefully we get to a republic system soon and get rid of this demagocracy. Hopefully we put back the entire assets of bankers in line in order to fill teh gap of depositors (like the good old XIX british style). Enough of this abuse where the "entrepreneurs" and "bankers" get constantly bailed-out and depositors are sheeps.
In the XIX the small notes were replaced by Gold coins so that if you had massive bank failures, the inept and incompetent bankers and capitalists would be wiped off but the small people, provided they kept their Gold coins would be spared. That is a responsible banking arranagement.
In Cyprus we have spared the small depositors, but we still inflict some level of inflation on depositors and capital controls.
The result is that there will be repudiation of this "imposed system" for their "own good" by the people "who know better".
Then dont't buy any krugman! if you don't like these articles stop reading them.
So you must have been buying silver like crazy on the run toward $50. And selling now. Is buy high, sell low what you would consider to be a winning strategy? Because that is what you are doing when you follow trends.
The undeniable trend is this: Since the Federal Reserve Act, the dollar has lost about 95% of its value. No matter what we own or hold, that trend must at some point be considered.
what do the 10 year, 30 year, 100 year trends say for the USD?
Paulie, are you the love child of MDB?
Hey Mr. A... perhaps we've found a new Leo!!!?
If this idiot keeps on posting, this is going to be fun.
I sold @ $ 42 added 3 rooms on my house. Lookin to buy back in. I like being my own bank. Just need patience wait for the circle jerk to come back around.
You, like any other trader, speculated correctly. No harm in that.
Im no trader, I just know history the metals will prevail.
Except when a "speculator" is actually a saver, and chooses to save in a physical metallic medium --- then they are evil hoarders, right?
He admitted he traded silver for dollars and then spent the money on a house!
Must you be so illogical?
Must you be so disingenuous?
Well, being a Keynesian and an apologist for criminal corruption and fascist statism (but I repeat myself), why yes, yes you must.
Dr. Paul is a perfect example of a person educated beyond his intellegence.
SHEEPskin?
Try this explanation:
"Phone Call to Sprott for Insider Selling ExplanationOn September 21st, I called and spoke to Carolyn at Sprott, phone number (888) 362-7172. I asked why there was so much insider selling of Sprott Physical Silver Trust (PSLV). Carolyn advised me that Sprott Asset Management, and perhaps Eric Sprott, were selling because of Sprott Physical Silver Trust's (PSLV) 20% premium to net asset value. I have provided a few of the recent and dated insider selling activities of Sprott Asset Management.
I inquired who was making the money by insiders selling Sprott Physical Silver Trust (PSLV). Carolyn advised me:
http://seekingalpha.com/article/295093-sprott-insiders-are-selling-pslv-and-so-should-you
Still sounds like a ponzi scheme to me.
You don't know what he is buying after he sells the shares. He could be buying cars and houses.
Hey Doc Kruggy, you sound like a Pansy Scheme to me.
This effer already accounts for 25% of all the posts on this topic....this fucker aint no authority on silver. Actually he knows jack shit.
Fuck you Krugturd. He and his followers ought to be tarred and feathered.
We keep waiting for the net selling, not quite there yet. My god, the shit won't go below 1500/26 without filling the gap in a hurry.
Come on and short it somoar..
This part of the cycle is my favorite by far!
Eric is not selling his silver....he is selling his customers silver as being ordered to do so. Stupid is every where...
Sittin' on a cock coz I'm gay ...
Dude, you had plenty of time to delete this... now it is in the anals of ZH history.
(Yes, I know it is spelled annals)
http://www.youtube.com/watch?v=UCmUhYSr-e4
can we please not be total jackasses? I love that song.
Oh lighten up and watch some of the best comedians in the world
http://www.youtube.com/watch?v=8J0RQ4A3jvE
And watch as your precious shiny rocks continue to lose value.
Jim Willie's latest from 04/07/2013
https://www.youtube.com/watch?v=Lt2ezDsGz0w
http://usawatchdog.com/economy-will-i... Dr. Jim Willie, Editor of the Hat Trick Letter, predicts "the economy will implode," and he says, "I don't believe were going to see garden variety powerful inflation. I believe, instead, we're going to get large widespread cut-off of supply chains" as foreigners simply stop accepting the dollar. As far as dollar assets inside the U.S., expect widespread confiscation. Dr. Willie contends, "When the losses from the debt write-downs come, I see tremendous national wealth lost because private accounts are really just bank assets." Join Greg Hunter as he goes One-on-One with Jim Willie of GoldenJackass.com.
Jim to the muthafuckin Willie.
The anti-Krugman.
Nice drop, thanks.
Who?
Oh, some doomer who think hyperinflation is imminent. I bet he has been apart of this group think for the last 40 years, like the rest of the doomer brigade.
You should listen to him..........you might learn something..........
Listen to him say what? The sky is falling? Run for your lives? Move out to the boonies, drill a well, and be a loner?
No thank you - I enjoy our culture, I enjoy people, and I enjoy being a functional member of society.
I hope you get mugged on the PATH!
For all your gold.
I don't own any gold.
Why would I own gold?
It is a fear trade and I am an optimist. I believe President Obama and Ben Bernanke are doing the right things to help the economy. Now if Congress would help we might have a recovery.
Ok, now I know you're a troll with nothing better to do, becuase there's no way you believe that crap.
Oh look, a skittle-shitting unicorn!
Congress is run by AIPAC you nit-wit
No, Congress is run by the voters.
Did AIPAC get everyone to vote how they did?
No.
They control the ballot, dingbat.
You keyed that comment via a personal computer, thus you own both silver and gold.
More factual inadequacy from the High Queen of Factual Inadequacy, Dr. Paul Krugman, ladies and germs.
Right, the one good use for precious metals is industrial use...
I have written this time and time again.
As for investments, I own none.
Actually you've invested capital in a computer, in order to publish your terrible blog and receive payments from the bureau of disinformation or the NYT, and when this asset finally depreciates as a result of said payments, its only objective value will be in salvage, driven by the melt value of its precious metals, which are virtually indestructable elements.
I hope you get muggedon the PATH and they jack your laptop.
I'll shut this lying idiot up right now, or prove what a coward he is.......
What HASN'T Obama lied about, "Dr".....
lmao@cowardlyliars
To paraphrase Wolfgang Pauli, not only is this not right, it's not even wrong. Gold has been, for all of recorded history, a store of value. There are no reasons extant to forecast a change in this aspect of humanity. It is silly to debate this fact. Its value moves up and down for a host of short term reasons. A rational person observing the state of affairs in the world today might conclude that the future safety of their wealth is at risk, and act accordingly.
The Federal Reserve and the federal government are the cause for most of what ails this nation's economy. To look to them for solutions is reminiscent of Stockholm Syndrome.
How it is, in this day and age of instant digital access to all of recorded history, that you can spend so much time trying to break monetary and fiscal policy down to molecules without first comprehending that the centralized authority necessary to enact such policy is at the root of our problems is beyond me.
"For all of history" is another way of saying "when there was no rule of law".
You have gone from spouting lies to babbling sheer nonsense.
Money has not existed, and can not exist, in a society devoid of the rule of law. That is why it effectively disappeared in Europe during the end of the Roman Empire and for a number of centuries thereafter. Nevertheless, any civilized society in recorded history has had some form of rule of law, and therefore money. To claim that the rule of law is some recent invention, much less imply that it coincided with the advent of pernicious fiat currency, is to turn all of history on its head. But that is something at which you Keynesian crackpots excel.
PS: The "rule of law" has been subverted, and dying, in the USA and Europe for many decades now, just coincidentally following the rise of rampant statism over the past century or so.
This statement is a demonstrable falsehood, but it does shed light on the way in which you manage the cognitive dissonance of espousing central planning policies while surrounded by evidence of their perfect record of failure.
No rule of law? Like Under the O'Bowel Movement?
What HASN'T the OBowel Movement lied about, "Doctor"
"when there was no rule of law" if you will pardon the expression, that was pure gold
Fear and optimism have nothing to do with holding gold. It is an excepted store of value, not an investment. Any vehicle that can store value is a Godsend while your heroes are busy pissing in our soup.
So are you saying that without Congressional action there is no recovery?
Hey Krug. Love your work. Just can't agree with some of it. I'm no doomer, just a numbers guy. So please help me understand my simplistic view of what exists today. In scaled back dollars, mr and mrs USA make 24,000 per year. They are currently spending around 33,000 per year. They owe 165,000, but only pay interest (at around 2 or three percent) on around 90,000 of that right now. Within the next six years, they will be paying interest on all of it which will increase annual expenditures further. Including the 8 or 9 thou of annual deficits they add each year. And the unfunded liabilities of approx 450,000 (which no economist seems to understand are real, and will gradually hit the balance sheet every year for the next 40 and then bear interest themselves) increase by the day. To date, the most mr and mrs USA ever made during good times was 28,000 per year. Please explain how in the hell you can judge mr and mrs USA as anything other than broke, with bankruptcy the only option (or inflating away the debt by devaluation of the currency), and continue to recommend additional expenditures of money they don't have as the solution. Thanks.
What is it about simple math that eludes so many people?
OK, I'll bite.
Exactly what does congress need to do?
This will make my day I'm sure.
Dr Paul Krugman
OMG...so this is the one person in the world that believes Obama. Not even the NAACP has any interest in him. Oh well he owns no gold or silver. I'll give him a dime someday for shining my shoes...
Most don't enjoy you though.
I know there are circles who do not care for my theories, but as I am enjoying around 20,000 new readers on my blog every month, I think you are wrong.
Which only goes to prove that there are indeed 0.463 suckers born every minute.
<golf clap>
You know you were the only one doing the math on that right?
I strive for accuracy.
;-)
I think he just has a lot of relatives. Probally the same ones that use to buy all his chocolate bars in high school.
Most come to you to determine what not to do and then move on. Others come for the comedy. Yet others are wondering what sort of drugs you are on to believe your drivel. Again, it must be pretty awesome to make money squeezing out a daily shit. Must be nice.