This page has been archived and commenting is disabled.
Happy Birthday Lehman Bankruptcy: Silver +71%, Gold +61%, S&P +58%
Three charts... "The West is done, it's over! We screwed it all up. Do you want your great-grandchildren speaking Chinese?"
Market Performance (from the close before Lehman BK) - Silver +71%, Gold +61%, S&P +58%
Federal Reserve Balance Sheet - Plus $3.5 Trillion
And The Recovery? From 62% of the nation employed to less than 59%...
Bonus Movie: forward to 7:30 - "The West is done, it's over! We screwed it all up. Do you want your great-grandchildren speaking Chinese?"
»
- 40900 reads
- Printer-friendly version
- Send to friend
- advertisements -
Did anyone actually go to jail for all the fraud involved here?
No.
It was all apparently quite legal and highly regulated ;-)
Yes, main street did.
Dont Americans realize when they are in prison?
Most Americans want to be in prison. They security any way they can get it, and they out number us.
What's so bad about speaking Chinese? It isn't much different from everyone having to learn English if they want to be significantly employable in the business sector anywhere in the West.
You abviously have never worked with them....Language is one thing...Culture is another...
I am assuming you have some objection to Eastern culture? And also assume you have very little knowledge of it.
Hence you are advocating that Western history of say they last 500 years is pristine and something to teach lessons from?
Borrowing a phrase: "HMMMMM things that go bump in the night"
Bonus Moveeee......YO!
Don't blow your loads just yet. The Lehman collapse will ultimately prove deflationary. Once again, capital is being burnt in a furnace.
In the future, American children won't be speaking Chinese; Chinese children will be texting in Leetspeak.
FREE JON CORZINE!!!
Oh wait.....he is.
They won't be speaking chineese, they will be too busy learning spanish.
I asked my daughter's Mandarin tutor to teach her "don't shoot Daddy"
Sorry, one load done. Premature-speculation.
I work amounst them everyday and know well of what I speak...and I stand by my statement.
Quran (2:216) - "Fighting is prescribed for you, and you dislike it. But it is possible that you dislike a thing which is good for you, and that you love a thing which is bad for you. But Allah knoweth, and you know not."
and then there's the part where god says to abraham kill me a son:
http://www.dailymotion.com/video/xex07q_bob-dylan-highway-61-revisted-ca...
Did he? Did Abraham really sacrifice his son? Or did God? Tell the whole story unless it disrupts your propaganda.
Yertle The Turtle (pg 3) - "I'm Yertle the turtle The things I now rule I'm king of a cow
I'm king of a mule"
The chinaman is not the issue here, Dude. I'm talking about drawing a line in the sand, Dude. Across this line, you DO NOT... Also, Dude, chinaman is not the preferred nomenclature. Asian-American, please.
You may not have to learn Chinese. Greek was the lingua franca of the Roman Empire. English could be the lingua franca for the Chinese Empire.
English is the language of finance and air traffic control, science and many other fields.
Wouldn't be easy (or cheap) to make a quick change.
Currency would be simple by comparison.
Mikie Metric says Only You Can Prevent Screw Ups!
Prevent??
Hey, sometimes I LIKE being on the bottom.
i'm not sure about english (personally french beats it hollow for consistency, ease and beauty) but i would bet on an alphabet over ideograms every time. like zero and powers of ten versus roman numerals.
I always found it a hassle to remember what sex every inanimate object was supposed to be.
I thought that as well, until I came across German and then there was neuter also thrown on top of masculine and feminine. Mark Twain put it well....
“A person’s mouth, neck, bosom, elbows, fingers, nails, feet, and body are of the male sex, and his head is male or neuter according to the word selected to signify it, and not according to the sex of the individual who wears it! A person’s nose, lips, shoulders, breast, hands, and toes are of the female sex; and his hair, ears, eyes, chin, legs, knees, heart, and conscience haven’t any sex at all…
Now, by the above dissection, the reader will see that in Germany a man may think he is a man, but when he comes to look into the matter closely, he is bound to have his doubts; he finds that in sober truth he is a most ridiculous mixture; and if he ends by trying to comfort himself with the thought that he can at least depend on a third of this mess as being manly and masculine, the humiliating second thought will quickly remind him that in this respect he is no better off than any woman or cow in the land.”
The last winter before his death he quoted " You can't out sail death".
I wonder if such removal of yinyang dynamics from speech was purposeful, or just a linguistic evolutionary quirk
English language is to search nails for a hammer.
Language transition through history has been heavily influenced by who it is, you really want to do business with.
Thanks to the PETRO Dollar, and the London Banking Empire, English has been that language. Now, if you think the PETRO Dollar and London will continue their world domination stick with English.
But...it appears that most of the world wants to do business with China, because they have people who are willing to make what the world wants. Ni hui shuo Putonghua ma?
It's more thanks to the Anglo-American empire, emphasis on the Anglo part, because that got started way earlier, was much more successful (for the winners), and lasted a lot longer.
Of course before that, anyone who mattered in England (and Europe) spoke, in various periods, vulgar Latin, French, or Italian alongside their local vernacular(s).
Many urban Chinese (including Chinese emigrants) speak various pidgin Englishes in addition to Cantonese or Mandarin and/or local vernaculars of which there are many.
But Greek was not the common tongue of the Roman Empire, it was the preferred language of the urban Roman elite, who were obviously a small minority, just like vulgar Latin was the preferred language of the European elite after Rome, and Mandarin is the language of the Chinese elite.
Knee-jerk American Xenophobia. I hope my greaqt grandchildren can speak Chinese but also hope they can speak English worth a damn, which is more than many here have achieved.
Funny, I have yet to meet a more Xenophobic people than the Chinese. They could use a little Liberal infused cultural and ethnic diversity. China is what? 98% Chinese and 2% other?
Assuming you trust their census numbers to be accurate 91% Han.
https://en.wikipedia.org/wiki/List_of_ethnic_groups_in_China
https://en.wikipedia.org/wiki/Han_Chinese_subgroups
The Han Chinese are an ethnic group native to East Asia. They constitute approximately 92% of the population of Mainland China, 94% of the population of Hong Kong, 95% of the population of Macau, 98% of the population of Taiwan, 74% of the population of Singapore, 24.5% of the population of Malaysia, and about 19% of the entire global human population, making them the largest ethnic group in the world.
...
So what did the U.S. get in return for PAWNING off it's massive Gold and Silver stocks......
The Collapse Of U.S. Silver Stocks As Public Debt Skyrocketshttp://srsroccoreport.com/the-collapse-of-u-s-silver-stocks-as-public-debt-skyrockets/the-collapse-of-u-s-silver-stocks-as-public-debt-skyrockets/
funny, reading how a very homogenous culture should learn some diversity on a website whos members regularly bitch about diversity is just rich.
Only 19% ?! Dont that make them minorities?!
s/
China knows it has little to gain from cultural dillution. They don't want to become America or France. Liberal Infusion....yah, I'd like to see them implement Equal Employment Opportunity nonsense like we have in the US. :)
Most Americans don't know how to think and don't even want to think. The fact is that they rely on the Kapital to think for them. The media and propaganda machine of the ruling Kapital are telling them that China is great in terms of profit opportunity but awful in terms of its people and culture. These two major themes of the China Story actually have been in place for the past twenty plus years.
I believe what the propaganda really saying is that China is great run for us as long as we can make great money by both turning their workforce into our wage slaves and in the meantime selling them the stuff and services that we can charge monopolistic prices; on the other hand, let's not to forget that we need stir up our sheeple's hatred toward the Chinese and her culture, just in case that we need to engage a total war with China some time in the future. After all, China's been printing her own money and issuing her own financial capital just like Nazi Germany had done without any involvement from what Adolf Hilter called "the international bankers."
I have nothing against Chinese people. However, I'll be damned if I'm going to waste my time learning Chinese. I live in California and I'll be damned if I am even going to learn Spanish. Screw this BS. I was born in the USA and speak English fluently. If immigrants to this country don't want to learn my language, they can go back to the hellhole they came from.
Dakota Kid: Some learning won't harm your brain, believe me. And also maybe you'll discover the beauty of another language that could even be eventually useful for you.
Because if everyone speaks Chinese, that means they are running the planet. Of course, that would be bad cause America is doing such a swell job. NND.
when u say chinese do u mean mandarin or cantonese???
I like cantonese but don't really care for mandarin...
Don't forget "Beijing Huar."
And a long pinky fingernail. "The ink dipper." The only thing that advanced the West from China is the typewriter.
Turned out to be the end of the West actually.
Who knew?
Everyone wants one though. I'm using one right now.
So are all of you.
No, we are using a keyboard, the amount of energy required to press a typewriter is far greater which can lead later to early frustration from arthritis or crooked fingers, today we call it altimers and there is either a pill, or a shot from a fall, as the cure or not, but the ending is always the same, a feeling of uphoric youthful return, just before the lights go out for good.
oh ho jung eee sai hai mo mo!
Lei jung eee?
Lei jung eee hahm chaht?
lei jung eee sai gao momo?
I thought so!!!
Quran (8:12) - "I will cast terror into the hearts of those who disbelieve. Therefore strike off their heads and strike off every fingertip of them"
That's not very nice.
hard to point a finger at why..
Green Eggs and Ham (pg 4) - "I do not like them in a house. I do not like them with a mouse. I do not like them Here or there. I do not like them anywhere"
.
When I plant corn, I receive corn. What do you suppose the terrorist will receive for planting terror?
Paulson, Geithner, Blankfein, Greenberg, etc., a grateful nation will never forget the sacrifices they made for Main STreet in doing God's work. It's so awesome that these people have our backs.
Feds to parents: No lunches from home without doctor’s note, school lunch only
Is this true? I don't know but it wouldn't surprise me one fucking bit.
I guess Hank the Hammer Paulson chose to learn Chinese:
http://www.paulsoninstitute.org/
Fuck Paulson. Let's not forget it was Hank at GS who lobbied Congress to allow this toxic crap in the first place around 2004/5. And spare me the Brandy Bunch "China China China, Marsha Marsha Marsha" BS. Let's not forget that little 2008 Olympic debacle where from 2006-2008 was "I weel gradry pay you Tuesday for a hamburger today" Popeye/Whimpy school of economics schtick from the PBOC and then told everyone to go scratch within what -- a month or two after the games ended. You know, the real event that started everything crumbling. Countrywide ring a bell. They had just as much crap leveraged in China as the rest of the world.
It wasn't just the West. It was globalization and securitization which is 10x worse now with QE. I'm so sick of this revisionist history with Paulson/Geithner et al as heroes and it was the dumb Muricans who lived beyond their means. How about the leveraged crap they sold and resold. So there were no CDOs in Europe or China or Japan or Russia or <fill in the blank>.
Hank Paulson is one of the worst POS in human history. Watch "Hank: 5 years from the Brink" as this psychopath rationalizes covering his own ego from abject failure and blame everyone else except him.
Or watch Hank Paulson's Charlie Rose interview for the documentary where he is asked what he got out of the experience and he says " I'm closer to God Charlie". Not surprisingly, Rose never asked him which god he worshipped.
LOL how can you say CDOs didn't exist in Europe during the crisis? First, you must know nothing about the marts and/or not work in finance or have any relation to the industry other than a few fringe blogs. Do you even know what happened to europe before the crisis, and what caused Europe's debt crisis? Did you pay any attention to the crisis or read any credible data after the fallout? I have to say no with that kind of comment you made. I don't even want to acknowledge the other BS you said, so I will just focus on one of your statements that can be completely invalidated by fact. By exposing you lack of knowledge and research, and showing your desire to publish dogmatic, we can immediately discredit you. You need to pack up your bags, and stay off every financial blog forever, even the complete fringe blogs that just spew shit about disasters and gold.
Just to show you how hard you had to try to not know that CDOs were issued in Europe, especially during crisis, if you google "CDO Europe" this link (below) is the very first PDF to show up on the first page of the search returns.
http://people.stern.nyu.edu/igiddy/articles/abs_market_update.pdf
Please for everyone’s benefit, just go away quietly and die....
Thanks,
Everyone on Zerohedge
PS
Also, who cares what god Hank Paulson worships? Does that really matter? I'm confused?? Do you believe that only a person who worships the same god that you worship, knows how to manage a global economy during a time of crisis? Is that what you're saying? I feel like it is what you are trying to say.
I know you dislike HP, and that's fine you're entitled to your own opinion, but I am just going to throw this out there: If Hank Paulson didn't do what he did, you would be a lot poorer than you are right now, if that's even possible.....
Umm asshole, I said THERE WERE CDOs in Europe and Asia etc, it wasn't just an American problem. Holy shit , did you read any of the comment. I said it was a global phenomenon but your butt boy Hank Paulson said the whole problem was "because Americans spent beyond their means".
And if Hank Paulson didn't ram derivative expansion in 2004/5 as CEO of GS, there would have been no problem. HP had no problem bailing out Fannie and Freddie when his GS interests were at stake but fuck Lehman? And since you're so super sensitive about Europe. Exactly why was that a US problem? Yup, Hank Paulson and his 2004/5 derivative push to BS Congress in extending full faith and credit articles to global derivative products.
How about you do some research on HP. He was more about taking care of his clients Nancy Pelosi and Barney Frank(The Charlie Rose interview) and keeping the progressive movement alive.
HP, Geithner and Bernanke perpetrated the greatest theft in history, I won't give them any credit.
And Bubbles, can I call you Bubbles, As far as CDO go, blow me. I was there at an institutional money market shop doing forensic work on all this crap. You can spew all the little Keynesian Stern School of Business shit you want. Reality was completely different.
You can disagree all you want you cunt, but fucking read a comment before you tell people to die.
P.S.
If you were referring to the statement "So there were no CDOs in Europe or China or Japan or Russia or <fill in the blank>." How about Googling "rhetorical question".
Lets be real..mainstreet doesn't know those names. Zero accountability.
And even less oversight!
There's a ton of hits on google when you search for Richmond, Virginia preschool ban lunch.
Lehman died so Goldman could live. It's the law of the jungle.
Don't forget that Bear Sterns got whacked too.
It took a double sacrifice to extend the life of the Goldman vampire.
Might've been for their huge short position in silver which I think the Morgue took custody of.
Of the silver or the short position?
All 3. Plus a back stop for large losses by the Fed which made the thing near riskless.
“My administration,” the president added, “is the only thing between you and the pitchforks.”
Read more: http://www.politico.com/news/stories/0409/20871.html#ixzz3DQ9H8J93
And how did that work out?
Pretty well it seems. Have banksters seen any pitchforks? Nope.
Some *have* discovered gravity sports and... roofing travails, for whatever that's worth. Just not enough of them.
Do nail guns count?
Could be why they bought so many bullets and all the militarization of the police forces.
Free Corzine!
you said freez?
You've killed him and chopped him up and now you're shouting that you're offering free pieces of him?
Bernie Madoff went to jail to show what happens if you fuck with "them"
A white Jew no less. Shocking!
With Bernie in prison, the pressure to throw fellow tribals in jail diminished. Who was the last guy they perp-walked? A Hindu I believe.
Bernie's son got wacked, but we don't have a mafia state. PTB reserves that term for Russia.
Only because he didn't give them a 'Cut' of his action.
Not really.... Bernie one day said enough is enough and blew the whistle on himself. Nobody would have fucked him, otherwise.
Somebody had to go to jail among the many to choose from. Bernie obviously pissed off the wrong people.
Bernie went to jail because he ripped off too many big money idiots. Without sufficiently kissing butt. Did not have inside track in how to rip off. HIS scheme was too antiquated. Soo 1990's. Bernie needed robo traders.
Bernie was too transperent.
Oh look I got a down vote. We have a Madoff/Ponzi troll. Thanks bud. See you on the other side and good luck.
Oh look, you cant see the forest from the trees. Madoff went to jail for one reason and one reason only. He was a red herring, a fall guy, a scape goat. 'Merika got to rally around a "bad guy" (who is probably living comfortably in Singapore) and distract them from the real monster under thier beds. Please. Call me a troll all you want, you fell for the Madoff(with all yo' money bitchez) narrative! Hate all you want, you know Im right.
Bernie went to jail because he was not the Honerable Corzine and didnt pay the right legislators. Lets see if StevenC paid the right folks, so far he has it seems.
Q: Who has Bernie's former chief lobbbyist?
A: Chris Christie.
But his kids found a way to kill themselves before his end, funny how consequences work.
If you watch this movie at one point Paulson/Fuld say "We are are all made of the same stuff"
Fraud?
shit
"Lack of culpability."
Just because I am in charge of criminals does not mean I am one!
Why is the knee jerk always we will be speaking Chinese or we will be speaking Japanese (or German for that matter)
The Chinese have a much bigger problem than we do. Namely we are the market. They cant sell their rubber dog shit iPhones to their own populous. Why you may ask? Because they cannot innovate, only repoduce.
Without our markets they fall over. Yeah, I know they have treasuries and resouces and blah blah.
In the Mighty 80s the Japanese were buying buildings and everyone said they would rule the world. How did that work out for them? Sony anyone?
The Chinese dont have a way to project power, they are overbuilt to hell and if we took away the manufacturing and gave it to Mexico, they would be up shit creek.
Good luck to them selling said treasuries and crashing the market. They are nailed and they know it. The play for them is anyone with two cents to rub together is trying to figure out how to move to Cali or London.
Martha Stewart
For insider trading no less, something any politician is allowed to do. We cannot.
my buddy's mom makes $84 hourly on the internet . She has been fired for 7 months but last month her paycheck was $19906 just working on the internet for a few hours. visit their website... www.payvalt.com
Low end mortgage brokers got thrown under the bus mostly.
My company 401K went to jail...
Christ, no. No one went to jail for the NORAD stand down and coverup on 9/11, so sure as shit no one goes down for any of this.
Shit on toast, the President has a phony SSN and education credentials and no one gives a greasy goddamn.
Bernie did!
Sorry, Bush did it ... just in case someone might think I don't know the Party line
"one more weekend to come up with a plan to hold it together a little while longer"
Yeah like 6-7 years longer.
I'm buying goldddddd!
Poor Bernie. These criminals are 10000X worse, yet Bernie sits in jail, but no one else does.
Same goes for Stanford, at least those guy's had something to show for it.
These guy's stole, manipulated and rigged all the way until it blew up, and nothing was done to the actors.
When a dumbass hands you 100K and says here invest it, there is no difference between investing it into your back pocket, or the "market" like Lehman did.
It's gone, either way...
Who's fault is that again??
"and nothing was done to the actors"
Whadya mean nothing! Bail outs and bonuses to the rest, Thanks Taxpayers!!!
i think ken lewis (CEO BoA) was forced out ... with $25 million golden parachute, naturally ...
These guys bomb gold. Denigrate it's value. Piss all over it regularly.
So WHY DO THEY CALL IT A GOLDEN PARACHUTE?????
No, these guys overthrow countries and steal THEIR gold, Iraq, Libya, Ukraine, Afghanistan. Modern day pirates, no more no less.
Got to keep the Ponzi alive by hook or by crook.
See below and "can't win for losing." Turning food into your fuel instead? Saying "I have a printing press" as the Fed Chair? (Bernanke) Or how about "we're the Federal Reserve so the law doesn't apply to us" (Volcker.)
I mean name one politician or anyone on Wall Street saying one word about unsound money? (Chirp, chirp.) in the end we're all too smart for our own good...or just trying to be too clever. "Like a world free of prejudice" everything is just a bald faced lie.
Grasso's $145 Million retirement check is nothing to laugh at either. All Grandpa CB got was a gold-plated Timex pocket watch.
I mean name one politician or anyone on Wall Street saying one word about unsound money? (Chirp, chirp.)
Ron Paul
Yeah, you got me there. "One guy against the Federal Government."
In the end if we're gonna be honest here we'll have to say "you'll have to kill everyone here. Including me."
That's the hard part. Calling your actual personage the bad guy too.
That's why Freud matters. "All humans have ego's." They will never see the truth about their self.
:"it's a big club and you and I are not in it." applies to all areas, here's a question that has nagged me:Has there ever been a ex FED employee who was a whistle blower?? what keeps all the FED workers silent for over these 100 yrs?? heck even the CIA can't claim that loyalty????
perhaps because it is a small club, after all?
take Snowden, for example. there are, according to some sources, some freaking 800'000 people that have a similar security clearance, with real secrets that do change the world if released
meanwhile take the "monetary masters of the world". they are dozens, and further dozens in the megabank world. and they don't really have secrets. we all know what the FED does. we all know what the megabanks do, including the manipulation of the financial markets
remember one thing: this whole mess did not start because of monetary inflation (and so levitation of prices). this whole mess which is still haunting us started with the fact that Americans (and in part Britons and pockets of other europeans) love, love, love the housing business, and the concept of "my home is my castle, best in the suburbs"
fact is that there has never been so much government intervention in the history of the planet as in the US housing business, with Freddie and Fanny and "everybody ought to own a home" since the times the G.I.s returned from WW2, and trillions of dollars spent on it, before and after the bubble burst... only to be reinflated again
it's an open secret, which is the hardest to expose. securitization? well, isn't that just another way to pass the risk on a Greater Fool?
TARP? TALP? rivers of tax-payer's money to fill up the gaping holes left by an immense mispricing of what low-income Americans could really afford to live in
and after that, further rivers of freshly minted credit by the FED, which then makes housing again less affordable in parts of the US
meanwhile, some pockets of the Anglo-American HomeOwnership Dream Alliance like London or parts of California are happy to attract rich Chinese, and add to the price levitation by restricting further building
there is very little to whistle-blow on. what happened in Ireland might happen in London or San Francisco... or not. bubbles burst... or not
Ken got nailed because he grabbed for Merrill, reached under the skirt, felt something nasty and then tried to run. Hank did the shotgun wedding and the shareholders stripped him when everyone saw what a mess Merrill had made. Hank was looking for a marriage and he got it, otherwise ML would have gone the Bear and Lehman way. It was getting destructive fast.
Yeah, Ken got his parachute, but its really never about the money with these guys, its being banker of the year...and getting Merrill/Countrywide under his belt because everyone including SheBear thought he was a bumpkin and he was going to show them.
And if you were sitting in his seat you would do exactly the same. Everyone loved Ken right up until they didnt. Thats how this stuff goes, homie
Someone else wrote it here first, I forget who.
Those criminals stole from the goy, Bernie stole from jews.
Bernie's kid got killed I believe.
No honor among theives? Who'da thunk it?
Smartest guys in the room!
It's like watching a magic act.
At least GM and Detroit were saved. Phew that was a close one.
Yes I hear people in Detroit are so ecologically minded they have decided to get their water from a town well now.
And Ally Bank. GM bondholders? Not so much.
We screwed it all up? I've been bitching about these plans from the beginning and knew full well that adding more debt would not work. The people you need in front of a firing squad include and you can add to the list Bernanke, Yellen, and Ole get to work Chuck Schumer, Hank Paulson, Harry Reid, and yes last but not least I doubled the national debt in six years Barry Soetoro.
"The people you need in front of a firing squad include and you can add to the list Bernanke, Yellen, and Ole get to work Chuck Schumer, Hank Paulson, Harry Reid, and yes last but not least I doubled the national debt in six years Barry Soetoro."
You forgot Paul Volker, gold (standard) slayer:
"In August 1971, at the urging of Paul Volcker, then Under-Secretary of the Treasury, President Nixon ended the convertibility of the dollar to gold; and for the first time in history gold was no longer money...
Paul Volcker took full responsibility for triggering capitalism’s end game. In a 2013 interview, Volcker explained his role in that consequential act with more than a modicum of pride: “I certainly was a major proponent of suspending gold convertibility, in fact the principal planner.”
It was Paul Volcker who (according to his own boasts) was the principal Assassin of the gold standard, unleashing out-of-control inflation on the global economy. However, rather than doing anything to reverse/repair his original crime; Volcker used the inflation he created as a pretext for unleashing even greater and more-numerous economic evils upon us: debt slavery; massive/permanent unemployment; and the terminal, downward spiral in our economies – which now has the entire Western world on the precipice of economic Armageddon....
..Volcker, more than anyone else, is responsible for the devolution of the Middle Class into the Working Poor (across the Western world). “Homelessness” never existed in our (previously affluent) societies prior to the economic crimes of Volcker.
More than even B.S. Bernanke himself, Paul Volcker has done more to destroy-and-plunder our economies than any other individual alive today."
Paul Volcker: Ultimate VillainBlythe. Must have Blythe in front of the squad, too.
What's with Silver? What a discount. Never thought I'd see 18.50 ish again.
The silver price manipulation will continue as long as the dollar is alive...The dollar will die, but it could be 3 months or 3 years..
bottom line. Once the BRICS get their act in full swing the price of silver will go thru the roof...Wish I had money to buy some more.
Still...might be a while before we see five bucks again.
That price lasted for 15 years btw and included the dot.com mania when "you were lucky if you got in on the globe.com." Nope...no salesmanship going in here...
My former partner bught tons of silver when it was in the $4 range. I asked him at the time why and he looked at me surprised and said, "it's a precious metal." I took his advice and still buy on the dips with discretionary coins I find between the couch pillows. Everyting runs in cycle and I suspect we'll see not only about $50 again, but close to $100 but timing is difficult since the manipulative forces are strong right now.
[BTW, he cashed about half his silver holdings at $44 and retired early. Still has quite a stash -- the other half -- at one of those commerical vaults.]
cheap bastard - finally a story i like and one smart man. one of my parents friends had silver, silver, silver, junk silver, coins, pounds and pounds. at $50 he asked me what to do. i said 'do you understand a bubble, do you think everything always goes up? why be greedy? if you don't want to sell it all, do me a favor. sell half, cash out. cash isn't bad. look at the profit you made. do you really think you can always make 500% profit on things? have done that in the past? can you do it in the future?'
he did not. and regrets it. smart man your friend.
i dont think we will ever see 5 dollar silver.it costs about 10 dollars/ounce to mine it.gold is about 900-1200 an ounce
Alright folks, which is it: $22 an ounce to mine or $10 an ounce to mine?
at 19 dollars an ounce silver mines are threatening to close...You cant mine silver for 5 dollars an ounce. It costs 22 dollars an ounce just to mine it....inflation and all ya know?
Silver will not go down any further...unless nobody wants it and the miners go out of business..But the last time that happened
was....ummm...never?
Buy it and put it away. Hell cut back on meals if u have too. I am. I need to lose some weight anyway.
Usd is going to die. Already set in motion. Its coming. If we werent so slothful and into worshipping athletes, celebrities, whores etc I might say we'd have a chance but too far gone. Most of us either like having no freedoms or are too stupid to realize they were stolen(hence the TSA feel-downs and professional sports lunatics). The ones that care are labeled as radicals and terrists.
Someone just bought a shitload. Silver (and gold, respectively) just jumped to 18.79 this last hour.
Not to worry, whatever buying happens tonight will be mitigated/sold (read: manipulated) back down at Comex open tomorrow morning.
https://www.youtube.com/watch?v=ZBWVIRxTrQk crosstalk from rt today..yeah, i know many of you dont like the rt but in my mind they talked lot of sense.. bear and dragon are liked perfect match.. the other one is the mother of raw materials and the other raw material hungry beast.... eu and usa are perfect for each other and they have something in common too.. enourmos debt load..so looking this from china the west seems like sitting order arguing passangers on a titanic
Already taking Chinese language lessons. Not a difficult language to speak (grammar is simple), but writing is a bitch. Who cares about writing anyways.
Take a Chinese wife, Stiffy.
when u say chinese language which one r u talking about???
mandarin or cantonese????
mandarin sucks as far as i am concerned
cantonese is nice....
October 5, 2009 Exchange rates published by New Liberty Standard. $1 = 1,309.03 BTC
Bitcoin Last Price: somewhere around $475
"The West is done, it's over! It sure as hell is!...
"We screwed it all up. Do you want your great-grandchildren speaking Chinese?"
Is there a choice in the matter? Along with the "international law" degree, my kids will be taking some Mandarin, Xiang, along with some Hindi...
At this point if they don't do some of that studying in these places after we exported most of it away in the last two decades the U.S. will never get it back!
Thank JPM and Goldman Sachs and the American IT industry that sold out for the cheap labor overseas and got fabulously rich in the process never to see it reinvested here at home again!
After all a legacy is so overrated... In America you want to win "the lottery" and never work again!
Isn't that what we're all about?...
America's final legacy consists of jazz, folk music and perhaps film noir.
The remaining culture lie somewhere on the spectrum between low-brow entertainment a la Disney, and self-referential garbage (e.g. Madonnas of elephant dung or sharks in tanks of formaldehyde).
mcdonalds, coca-cola and disney. you can have them all at the same time.
"I resemble that remark," Charlie Munger on why did you leave out the DQ Dilly Bar.
Don't disagree with any of your observation(s) on American culture and "I'm American"!
Ditto on all of them!...
'August' you left out the "circus" with the bread and our unequalled devotion to all things sports as "Rome" continues it's descent into Hell!
Ask any American about the football scandal du jour that involves a player's wife being punched in the face twice in a public elevator and they'll tell you the time of day it happened and what clothes they were both wearing.
Ask those same Americans about the atrocities their government is committing in Eastern Europe or the Middle East that kills thousands of innocent men, women and children during the course of a "season" or where those Countries being assaulted are located and you're rewarded with a blank stare!
I'm with you on that observation SofC Nemo. I'm amazed its become such a zombie-land. Back at the end of the Viet Nam war, I thought we were going in a different direction.
Yeah! 'Winning the Lottery' just what I want, if, by the Grace of God, I am successful, it will be the Crowning achievement of my life, my Pastor has taught me that, "Only God can make a lottery Winner", and he has encouraged me to donate generously that he may be better enabled to do God's work, and increase my stature in the eyes of the Lord! Pastor is praying for my success, won't you Pray for me too?
Probably why they made it compulsory to learn an Asian language in aussie schools. No shit!
Australia exists only as a source of commodities for China and the rest of Asia - makes sense to be able to communicate with your overlords
Regardless of the "truth" in what is presented the video is very entertaining. My take overall - what a bunch of fucking snakes!!
It's like my great grandpappy used to say: "Lay down with dogs, get up with Ebola."
"Lay down with dogs get up with Ebola."
The Grand Pappy was wise, and knew his Way through the darkness reveled into Light, well.
Sounds of airplanes roaring down in the background:~.~.~
http://www.liberianobserver.com/security/ebola-aids-manufactured-western...
Sounds=+~/:)
http://www.youtube.com/watch?v=69zvFnVa03g
"The boneless spineless chickenless eggs will again be left with the bones to beg.... Johnny I hardly knew ye'."