Look, a bright shiny object!
Constant economic predation. Ever more reckless military acts from ever more-desperate regimes. This is the New World Order – the real one.
The federal ban on cannabis is one of those policies which make living in Americ feel like the dark ages. It wastes tax dollars and it tramples states’ rights to make their own laws.
Presented with little comment - aside to note, it's never different this time...
and as a reminder...
Source: Ian McAvity
I'm not a crook...
Personally I blame Disco and Mr. T in the 70's and Gangsta Rappers from 2001 on...
a 20 year miracle 1981-2001
fiat collapse put on hold
The early 1980s is when Russia dumped 330 million ounces of gold on the market to support it's economy. That act will probably never be repeated again.
One day, in the not too distant future, somewhere, there will be a board meeting a lot like the one in the movie ‘Margin Call’ where, it became obvious that the demise of the US Dollar was inevitable, that they should leave first, that Mark to Market was a joke, that fundamentals had been ignored if not forgotten, that the true value of Gold was well north of Spot and as limited in space, that the seemingly endless bouts of stimulus did little more than steal media coverage, that they had waited far too long to address this issue, and that rumblings were being heard. https://www.youtube.com/watch?v=xOO1NY6ctYU
That meeting, and the subsequent fire sale of US Bonds and/or leveraged assets which derive securitisation from US Bonds, will be the day everyone snaps out of their Fed induced myopic dream-state.
What is the value of all the assets, and leverage, which are supported by US Treasuries?
Sorry, aren’t we there right now……..who’s gonna pull the trigger first?
It won't be the US where it happens first. IMHO, Japan is the first horse to go to the knacker. Much more government debt relatively speaking, a long term demographic disaster looming, and a real trade war that could become a hot war with China. And gold won't be the trade, US treasuries will be. For awhile.
and when Japan runs out of money, they will tell the ROW to clean up Fukushima or it goes critical and kills us all.
Fukushima / Zero Hedge............Bullish!
All the fiat sloshing around the world right now is shit paper. Only difference between them all is a slight deviation in pretty pictures and the label: "Made in (insert country name here)".
Don't be so sure. There is always a Mr Brown lurking in the confines of politics. Stupidity is a pre-requisite for political office and central bankers have their memories wiped on entering office. Any knowledge of history is cleansed so that they can do "gods work"
so that's ~1000 tons or about 2.5x britain's dump 1999-2002? it seems that the correlation between gold & fiat is much more closely related to whether or not real interest rates are positive or negative over long periods.
No, 330 million oz t is about 10 264 metric tons. That's a huge amount, similar to what the statists on the opposite side of the Atlantic dumped in the decade before the speech of the gentleman from the video.
I didn't know about that one. I thought them Ruskies were too secretive about everything and wouldn't release such info. It sounds plausible though. What is your source?
Yeah, the miracle of Derivatives and Credit Cards.
if fiat could speak
"I still exist!" -- Fiat, circa 1957
A very good clip. I've often said, there is a fine line between zero and infinity.
What is the price of gold in Zimbabwe dollars? Zero or Infinity? Yes.
you had me at "zimbabwe"
Get a room.
you can't be serious.
The price of gold in Zim dollars is infinity. If it was zero I could buy the entire world's supply of gold for my $100 trillion note and have $100 trillion left over.
Where you're getting confused is $100 trillion Zim dollars will buy you zero ounces of gold. So $100 trillion / 0 = ?
The only place you might say zero and infinity are similar is the center of a black hole, unless of course if it spews out into a white hole in another brane multi-verse.
a: how many zimdollars would you take for that ounce?b: zero
a: ok! here are zero zimdollars!b: sorry. no. I wouldn't take *any* zimdollars for this ounce.
a: that means infinityb: no. that means zero. nada. no sale.
Yep. That"s what I meant. :)
You're forgetting only Chuck Norris can divide by zero. And zero and infinity are only similar at the center of a roundhouse kick to the face.
Dunno, Mr. T loved his gold.
That's interesting, since old wrinkled white men have pretty much been in control of the whole show for centuries.
i am not responsible for my brother billy- reo speedwagon, bad company etc
i did not trade arms for hostages- spyro gyra.
i did not go into bagdad (kill jfk. etc) - madonna
i did not penatrate that woman- p.diddy
i accompished that mission.- american idol
i hopey changey. -lady gaga.
As sure as the shit that came flying out of his mouth ya have to hand it to him as he did say it with a straight face. AMAZING!
how come i never learned this in school?
You shoulda taken 'Contemporary American History' with professor Turgeson...
I was a junior in high school and was talking to my history teacher and somehow national debt came up ('71?) and I remember him quite clearly saying "The national debt doesn't matter because we owe it to ourselves." and looking smug. I knew there was something wrong with that statement but I didn't know what it was. I'd like to slap him with today's national debt.
XXXXX doesn't matter = wrong.
How many times have we heard something doesn't matter when we know damned well it does?
Shit, if it doesn't matter then why even bother measuring it? Your gut tells the truth when everyone else says otherwise. It ALL fucking matters. And you goodamned well already know it does. Just a question of degree, based on the particular circumstances of the situation.
Right now the national debt and the yearly budget deficit don't matter because interest rates are at zero. If they rise just 1%..... it will matter a fucking LOT.
interest rates can stay at zero forever because printing fiat money is easy (one does not even need to print it nowadays just enter some zeros into a computer)
And this is the tipping point that Japan will find first.
Printing will eventually overcome credit destruction, then interest rates spike upwards. Govt goes bankrupt beyond all doubt, hyperinflation begins. Argentina on this road too...
About the same time I had a teacher explain to me that governments could borrow money and never pay it back, just keep rolling the debt over forever. He was smiling as he explained this as if it was the cleverest trick ever.
This was just about the time the wheels were falling off the Keynesian gravy train the country had been on since he came of age in the Great Depression.
"We owe it to ourselves so it doesn't matter."
Yeah, like telling your spouse that you having an affair doesn't matter because it's just between the two of you.
Soon that chart will turn into a straight down waterfall.
Same beady eyes as BHO. Should've been imprisoned.
This is your currency......This is your currency on fiat. Don't do fiat.
They call it Fiat because it depreciates like a rusty Italian car.
My friend from Europe says that FIAT translates to "in every part a little problem"...
For some reason I'm picturing two eggs in a frying pan.
Was just one egg...
Maybe it's the fractional reserve part that's more of the problem than the fiat part...
Bitcoin will be the inverse of this chart, naturally. Because that is where it is all being converted. Ever see a black hole? You can't, and when sovereign currencies pass the bitcoin event horizon, it takes another bite out of the conventional system, until they collapse on themselves.
The trend is just beginning, and it will start to accelerate over time.
Plus, people will be able to again say, "I'll give ya two-bits for it" and mean it....!!
Ask any bit coin participants how they are feeling right now. Oh you can't because all web access has been shut down. If you can't touch it you don't own it.
what do you mean? mtgox is trading ~110 fiats
I meant to say in Syria... Don't know what happened there.
All the bitcoin transactions going on in Syria will just merge with the blockchain when it comes back online, or they could be in the main blockchain right now just by a secret satellite connection.
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