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Santelli Stunned As Janet Yellen Admits "Cash Is Not A Store Of Value"
Intended warning or unintended slip? After Alan Greenspan's confessional admission that
"Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it,"
we found it remarkable that during the Q&A after her speech today that Janet Yellen, when asked about negative rates, admitted that
"cash in not a very convenient store of value,"
seemingly hinting at Bernanke's helicopter and that there will be no deflation in The US ever...
Rick Santelli then sums it all up perfectly...
"deflation is clearly the boogeyman... and the only thing that will save the middle class."
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Yellen: "cash is not a convenient store of value"
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So if cash is not a very convenient store of value... what is? Biotechs? As Rick Santelli explains... this is the scariest thing she has ever said...
Santelli: "deflation is the boogeyman... and the only thing that can save the middle class is lower prices"
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The birth of the Fed Reserve is coincident with the birth of the income tax.
the reporting requirements of the IRS merely provide a road map for the central banks' asset stripping projects -which are completed by additional targeted taxation and regulation
immigration gates get opened to drown the opposition vote when addiitonal taxation is planned.
rinse/repeat
the guys running the project all make out pretty well; they won't take kindly to your muscling in on "their" game
cash in not a very convenient store of value
https://www.youtube.com/watch?v=cphNpqKpKc4
It's a convenient store of value, just not a very good one.
Yellen is a thief. She steals about a trillion a year to give to cronies.
i think she is trying to say digits representing cash are more covenient than tactile cash. true, more convenient, but less safe.
I would love to put a big old smooch on him for saying that.
No cares when I preach it and hand me the tin foil.
What did we learn this week?
1. Michael's school lunches are infested with worms.
2. Obozo fires an ICMB to prove the US still has rockets that work.
3. US military special forces considers Texas and Utah hostile in planned drill.
4. Janet Yellen doesn't have full faith in the USD$.
5. Someone tells Harry Reid to get the hell out of Congress.
Sidney Blumenthal supplied intelligence to then Secretary of State Hillary Clinton gathered by a secret network that included a former CIA clandestine service officer, according to hacked emails from Blumenthal’s account.
So Hillary had her own Private Intelligence Service.
- Anyone want to guess if Sideney Blumenthal or CIA Agent get the Book thrown at them??
and another story: Wikipedia gives Hillary Special Service or Assistance or consideration.
And that a 28 year old arschloch named Andy Lubitz intentionally murdered 149 people but will not be called out for any religious reasons because it just might be too sensitive - yet had his name been Andy Said we would never hear the end of it ...
She's right. Better to sit in cash than buy bonds with negative yield.
Isn't this the Blitz-bomb-sirens moment for holders of UST?
the purposeful devaluation of one's 'stored value/labor' is a crime against humanity.
There's another angle folks & you're all missing it.
And?
https://www.youtube.com/watch?v=H7QlOTi86Nk
Yellen loves to scare stock and bond holders on Fridays.
LOL>>>>>>>>>>>>
Like what type of character from Halloween?
Deflation and the middle class oh ! oh oh!
Yellen is just parroting the regime's desire that people not keep their savings in cash. Far better to be fingerprinted, photographed, RFID inserted, direct deposted into a TBTF GSE. Anyone who would want to use cash is a criminal.
Cash is criminal! :-) I Think you are right there, and Plastic and RFIDs are even worse.
I personally always figured TPTB would keep some form of semi-untrackable currency in circulation to bolster the illicit drug trade.
Not sure how things work today exactly, my teen age years were LONG ago now, barely survived. Definitely left part of my brain in California.
Yes Janet, "Money can't buy me ...love"
https://www.youtube.com/watch?v=uxha1IUsSPI
Say it again and again.
I know many people do not seem to care for Rick, but I think he is great. He calls bullshit in a line of work whre calling bullshit gets you fired or places ceiling on your career. I was hoping for a tirade....
"many people don't care for Rick?" I must be hanging around the wrong crowd. By
definition, if you don't love Rick, you are a sycophant and an ASSHOLE.
Rick Santelli consistantly asks killer Q's, and brings up good topics. A voice of reason and logic amongst the fatcats in office, and there are not many like him who 'dare' to challenge the status quo. He's one of the few american politicians known in europe [apart from the Dear Leader & his entourage]. Youtube is full of grillings he has lead in the House, .... and how refreshing to hear some straight talking.... what's not to like ?
who? what?!
I haven't watched CNBS for over three years now, but I sure as hell miss Santelli. I don't miss "Shiney Head" LIESman one free'kin bit or any of his other status quo spinsters. I do however enjoy seeing Rick covered here on ZH. Everyone loves a factual, insightful mass media rant every so often.
wake me when she admits that its a cartel of private banks owned by {mostly Jewish} European banking families - and that the whole thing is a scam designed to transfer real wealth from productive labor to those with the issuing power.
bank charges and the cost of insuring a mattress say that cash at least keeps its face value when central banks engage in usurous courrency debasement by engaging in financial repression so to bail out their buddies and do whatever it takes to perpatuate their gravy train lifestyles.
europe is worse of course, but we remain in the era of wheelbarrow central banking to try and protect capital and avoid being gripped in a vice as bad as drugs and prostitution - central bank experiments
Tell me exactly why "Europe is worse of course".
Better food in Europe, better transportation systems, better medical systems, less crime, better wages, better schools...
Define better? Europe is as morally bankrupt as the rest of the world. That's right morality doesn't count anymore since no one can define it because everyone has become so smart in their own eyes.
Keeping cash is crazy! Doesn't everyone know how much safer it is in a bank? And it's insured by the government,,, can't beat that, can you? I always put every dime in the bank and use the ultra safe online banking and debit card!
Oh, and don't forget to store all your PM's in the bank too. They are really safe there. The bank will always be open so there is never a worry about not being able to get to it. :)
Negative and Zero % Interest Rates = a Defacto default by the bond issuer?.... when you cant pay interest on your debt - isnt that considered a default by any honest measure?.
This how it looks when putin regime "russian world" comes to "liberate you from nazis" you have elected in democratic elections recognized by whole world.
https://youtu.be/ztsFj2AFWSk
More about putin regime crimes & lies read here:
https://stopputinregime.wordpress.com/
For we do not wrestle against *flesh and blood, but against principalities, against powers, against the rulers of the darkness of this age, against spiritual hosts of wickedness in the heavenly places. - Ephesians 6:12
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* "flesh and blood" refers to any specific or particular individual sinner.
SOmeone has let a spam comment bot loose again. You don't have to pay shills anymore, baysian programming allows retards to have bots drop their spew these days.
Jesus H Christ, Ole Yellen certainly is a stupid bitch, no?
Who cares what Yellen or any of these cur dogs say. They are liars and manipulators working for Congress, the banks and the power elite. Most people here don't seem to understand what fiat means. The USD is not fiat. Fiat is a currency in which the government or ruler sets the value of. Value by decree. The US government does not tell us what the USD is worth.
Shame on all of you goldbugs and alarmists, always trying to scare people with your stories of Weimar, Zimbabwe and Argentina. Their circumstances and their currencies had no similarity to the USA's circumstances and currency. Those countries had all defaulted on their debts, the new governments were "revolutionary", they didn't have bond markets, etc. so no one would lend them money or assist them.
The USA has the deepest bond market on the planet (and due to this, it will remain the only real safe haven for domestic and foreign money for a very long time); its stock and commodity markets are also huge; it has a powerful military; it has huge natural resources; it has the best geographical defense location; it still has technology; it still has productivity potential; it is still the world's reserve currency and still the dominant currency for investment and trade (although investment is soooo much bigger than trade); etc. etc. It will be a long time before confidence drops in this country and in the rest of the world for the USD and it begins to lose its status. This will not happen over night. (None of this is to say that I am in agreement with the US government's policies and behaviour.)
You goldbugs want everyone to be in the same bed as you are. I hope that doesn't happen. Look how much money people have lost investing in gold over the last 10 years or so (on top of that it doesn't even spin off any cash flow or give anyone any tangible advantage or benefit). With our corrupt and deperate government, when our currency crisis comes, gold will never be used as legal tender (you won't be able to pay taxes with it), it will be highly taxed and it could even be confiscated. Gold hoarders are going to get creamed in the future when we have our currency crisis.
I lament that I have but one down-vote to give.
LOL - real loud!! Can you hear me now?
You speak adamantly, but you are very confused
Oh, I do? Gold CURRENTLY has a tax of 35% if you sell it. Thus, one would have to have a gain of approximately 50% from the price they bought it at in order to yield a small profit upon selling. As this corrupt government becomes more desperate and confused, don't you think that tax on gold will go a lot higher in the FUTURE? I do. All these goldbugs who have been stacking gold will be stuck with it. Unable to sell it and unable to use it for purchasing staples. It is a bad investment strategy to stack lots of gold and have a large percentage of one's investment capital in gold. Time will tell. It's a new world with new rules. Wake up.
That depends on the type of metal one buys; don't think the eleite who accumulate metals do not put loop-holes for their benefit in the tax code. It is why their is the "IRA approved list". Soveign bars & coins only...just sayin'.
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However; you are correct that metals are considered "collectibles" and have a 35% tax rate, gold that is. You are also correct that tax rates can change, but that also assumes in 10 years, likely less, that there will be a FED, IRS, or US Government as it is now.
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Also, if one sells $9,999.99, that is not reportable & given the number of "dealers" and likely to increase...it is all the more reason that the IRS does not want YOU to own metals or like "cash & carry"...then again you sound like a governemnt employee working for the new , ITD, "Internet Troll Department".
No, you "wake up". What does that even mean anyways?
"Blah-blah tard-speak, wake up."
Furthermore, who said anything about paying tax when selling gold? Maybe, just maybe, that's one of the many benefits of owning gold: you can sell it anywhere in the world without a need for a transaction record. Converting gold into fiat paper is not difficult. You think too conventionally.
Gold is money. It's not an investment.
Converting gold back into fiat money to me defeats the whole purpose!! Totally illogical. You value gold by the USD, you will sell it for USD?! Totally hypocritical. When the government clamps down you won't be able to sell gold without paying taxes. You are the one that needs to wake up.
Why sell it? Trade it for value, or use it as collateral for a loan to buy income producing assets. Use the after tax and after loan payment income to buy more gold.
The tax rate for using precious metal for collateral is exactly zero, stock-roach.
Thank you. Finally, somebody gets it.
So Chinese, Indians and Russians are all wrong?
/dp
Alfie - That is tax of 35% on any profit if one holds the "collectible" for less than 1 year. It is 28% long term cap gain if held longer than 1 year, versus 15% for feckin stawks & bahns. Y'know just to be clear. And that is if one reports it... which of course everybody does....ahem.
So a diff of 13% of the tax rate, fine. Indeed the neo Bolsheviks will try to make owning gold less attractive, but they have to enforce the rules. That is going to be come inceasingly difficult. This is NOT a new world, the neo Bolsheviks throughout history have attempted to control their neighbor. It is not going to work this time, and it will not be pretty. However it will be like trying to outlaw gravity, one can pass the law... but enforcement is tough.
I think most are awake here... I just think that you have to become more awaker.
Clownie: Cap gain taxes are going to be one of the first taxes to soar up into levels that will make you dizzy. Property taxes too. I wrote that it's 35% currently. That is HORRIBLE. TOTAL THEFT. And that is currently only. Wait until the whole sovereign debt crisis starts to unfold and see what these governments do with tax rates. They'll hunt money down like a dog after a bone. I can easily see gold taxed at some insane rate like 70%. Which means gold bugs will lose money big time. Yes, this is a new world. No one has ever done what is being done today... the debt to GDP levels, the QE, deregulation, de-industrialization, dissolution of the US Constitution, etc. etc. I'm awake. I'll make some bacon and eggs and coffee for you when you wake up.
Alfie - As I say , you speak adamantly. But here you are now changing the topic from owning gold presently and what the .Gov will do in the future to raising tax rates on cap gains, real estate, etc... .
It all has happened before just not in the US except for when FDR did his Bolshevik thing. You are being US centric. The world is different these days. Russia, China, India... lotsa people...lotsa gold. The probablity of those countries moving otward a gold based currency system is a lot higher than the US moving taxes up to 50% never mind your 70% rate.
You are awake, but you are only awake in your dream.
The tax rate for using gold as collateral to buy an income producing asset is exactly zero. Stock-roach dumbass.
$10K invested in gold 10 years ago, 15 years ago, 20 years ago, 25 years ago would give you far more "Federal Reserve Notes" than any indice investment including the accounting of dividends and adjustment for inflation & taxes...that is a fact and you can take that to your Central Banker who accumulates physical precious metals in his or her private portfolio.
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What do you think the spread will be in 10 years from now; assuming there still remains a "Federal Reserve Note"?
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BTW - you may want to consider that coinage s minted by the US Government whilest Federal Reserve Notes are not; I wonder if in the new Paradigm that will have some value? I really do not know and merely an observation that the coins do not state "Federal Reserve Note" and are not "printed". Why do we still make a stinkin' penny? It does show the efficiency of our government; spend a nickle to make a penny.
Another stupid stock-roach.
Compare the average P/E ratio for the DJI from 1970 to the present, and get back to us, retard.
You are so fucking ignorant of reality it makes my nose bleed
One nuclear bomb 300 miles straight up over the top Kansas will plunge the US from the Atlantic to the Pacific and from Canada to Mexico back to the 18th century. Nothing with a chip would work: that means cars after the middle 70's, cell phones, microwaves, TVs and even the pumps at the gas stations would all be dead.
Our government has not seen fit to harden our transportation, utility systems, or energy systems from an EMP. Think of life without city water, electricity, or the ability to mass produce most anything.
Need insulin, blood pressure meds, or a medical device like a pace maker? Too bad. You are toast within a short time if not immediately so don't put off that elective surgery or dental visit and gather up grandpa's hand tools as you stock up on heirloom seeds, Life Straws, antibiotics, and PMs including LEAD. Forget friends with privileges and get those with skills.
If Yellen speaks any slower she'll be thinking backwards.
Another Greenspan favorite along these lines:
To paraphrase: "We can guarantee cash benefits as far out and in any size you like, but we can not guarantee their purchasing power."
https://www.youtube.com/watch?v=gqUzQjXNliU
I kinda liked Greenspan, he's one of those bandits who would just straight up tell ya he's gonna steal your sh*t. Old Skool values.
Goldbugs are fixated, closed-minded, stubborn and unrealistic. Time will tell.
"Open minded" means it goes in one ear and out the other; you prove the point. Another misnomer; people are brainwashed, no..no..no they are brain-polluted; washing has a good "cleansing" effect.
The people lie through their teeth. That is their job - To lie - They are selling us and our countries to a communist nation with human rights' violations that are off the charts.
Granny is there to soften the blow - so we do not hunt her down, rip her heart out and throw it into an active volcano (feed the rest to the hungry dogs).
http://fresnocoin.com/
When pawn shops sell gold for going price, it has intrinsic value. And of course, everyone in this sorry excuse for a country is selling their valuables at bottom dollar to pawn shops to pay their bills.
This woman and her gang of murderers should be in prison, or a dinky little shop on the bad side of town, reading tarot cards. She is a fraud who speaks out of both sides of her mouth to get through a meeting without saying what is really going on - A covert war and intentional collapse of a nation's currency.
Get back to us after you have looked up the current P/E ratios, stock-roach.
Of course it isn't. Hyper-inflation wipes out the value of everyones holdings, while an engineered stock market crash targets the pension funds, IRA's and 401k's of the middle class. Just momments of course after the elites bail out of their stock holdings and not incoincidentialy triggering the crash.
America the Third-World Nation in Just 4 Easy Steps
http://www.informationclearinghouse.info/article33011.htm
Janet Bobblehead, what next?
(Her head was bobbing around so much, I thought something was wrong with the video.)
GLOBALIST MOTTOS: "It is good for all of you as long as it is not for us" & "If it is good for us (globalist), then it is not for you"!!
I logged in just to hat tip Fedamental's "full retard" comment.... fucking outstanding!
Throxxof Vron is even more outstanding.
So, you try to take cash out of the bank and you are a marked man. Marked in several ways. First, the bank has to tell the "Authorities" that you took $5000 out. Why? Since it is your money to start with....this should be none of their business. First it was $10,000. Now it is $5000. Second, they know that "YOU" took it out and they have that information...and your address and your phone number. That could be sold for a fee.How many people that are in system know this information. They are all clean are they???
During the depression those that had cash stuck in their hidden places survived better than those that believed in the system that it would be "fair" and "honest". Those were the people that were not very well off and lost a better part of their life savings. And that was when the currency was backed by gold and silver. Now it is backed by Yellens little statements. Her little statements are an embarresment to our country. First Greenspan, then Bernanke, then Yellen and behind is our dear Israeli friend Stanley Fisher...like we need these enlightened assholes to help us on our way...with friends like this, who needs enemies.
So, you try to take cash out of the bank and you are a marked man. Marked in several ways. First, the bank has to tell the "Authorities" that you took $5000 out. Why? Since it is your money to start with....this should be none of their business. First it was $10,000. Now it is $5000. Second, they know that "YOU" took it out and they have that information...and your address and your phone number. That could be sold for a fee.How many people that are in system know this information. They are all clean are they???
During the depression those that had cash stuck in their hidden places survived better than those that believed in the system that it would be "fair" and "honest". Those were the people that were not very well off and lost a better part of their life savings. And that was when the currency was backed by gold and silver. Now it is backed by Yellens little statements. Her little statements are an embarresment to our country. First Greenspan, then Bernanke, then Yellen and behind is our dear Israeli friend Stanley Fisher...like we need these enlightened assholes to help us on our way...with friends like this, who needs enemies.
[Since it is your money to start with.]
Your right, until you put it in the bank,,, then it is theirs to do with as they please.
It's the Law!
Everyone should start taking cash out when they cash their checks. Bit by bit.
It will collapse the banks...they don't have enough printed cash for everyone..should be hilarious to watch.
The fed prints mostly just digits on computer screens.
it feels so strange that i have to be paranoid to take out a large amount of cash from my bank
whatever huh?
Old Yeller doesn't know the first thing about economics. This is gonna be beautiful to watch once it breaks this fall. HAHAHAHA!
earth to whatever planet u zhers are living on she wants to destroy the dollar i think she will fail
This government wants to destroy America as we know it and the destruction of the dollar is a side-show.
Nonsense, indebtedness is a store of value if interest rates go negative. Being in debt will pay dividends.
If the negative interest rates are due to deflationary forces then cash will become harder to source increasing the real vale of your debt (which is a negative for the borrower)... never heard of being in debt paying a dividend, that sounds like nonsense.
Of course it sounds like non-sense, it is.
Borrow $100 at +10% for 1 year - at maturity, you owe $110
Borrow $100 at -10% for 1 year - at maturity, you owe $90
It must be great being a highly paid, influential, highly respected, quasi-governmental bureaucrat that has NO accountability for what they say or do. Quite a gig if you can get it.
smokin cigarettes and watchin Captain Kangaroo......
https://www.youtube.com/watch?v=1s8nRL2bPCU
highly paid?
compared to an ordinary amurican yes, shee earns I think $240k/year.
Compared to Draghi, who gets Euro 500k/year she is nullified. COmpared to the son-bankster of my friend, who is at Euro 700k/year she is blank.
compared to Wallstreet banksters with their millions per year..
She is a talking head, reading the script, she gets every morning from GS.
She is a laughstock & deception. FED does not decide anything, FED is a bogus entity, run by Wallstreet. The chief of FED is always a moron, I must admire the jews, who are willing to play a chairman role in this commedy. It makes them look like idiots.
Didn't even have to hit the link ......playing solitaire til dawn with a deck of 51...... great stuff.
Could the post from one_hundred above be the same highly paid bureaucrat you're talking about - oddly coincidental
These sociopath attorneys, academics and technocrats acting as "leaders" and "running" our governments and central banks are going to cause unbelievable disruptions, calamaties and collapses in future. When things will really get dire I do not know. Screw gold and screw USD and whatever else as far as security goes. The only way to have some semblance of security is to have the real "currency" in one's possession and under one's control: water and food. You can have your gold: I'll take farm land, wells, chickens, rabbits, cattle, sheep, crops and fruit and nut trees. That is the real money.
To learn if you can do the work of farming, there are few lessons more convincing than handling the hay bales in July for, say 15 hours. Then there is the business end. Hint; bankers and jews don't farm.
Trading that cow for 500 gallons of diesel is going to be a bitch.
You'll end up selling that cow to me for silver when you run out of fuel.
No mention of guns and ammo - you're going to lose
Check out my user name.
7.62 X 54r,
You have to sleep sometime and need to eat everyday. Hope you got someone watching your back cause there is always someone who will take the diesel, the cow and the silver. Just saying - It's ain't gonna be easy and thinking in terms of co-operation with like minded is the way to go.
Hirelings.
Or a neighborhood militia.
Or both.
If you spend some of that silver on beans and rice for your neighbors, your neighbors will help you hang wannabe gangsters from lamp posts.
deflation is much worse than inflation!
Depends on what side of the trade you are on?
FredNash,
You are so right about deflation. When most prices fall below the cost of production, jobs cease to exist.
When jobs disappear, prices no longer matter because the powers that be have long since rendered fiat currency valueless. When the well is dry, you can't prime the pump so deflation is a spiral from which you can't recover until the RESET.
In the meantime, Gold and Silver and that other precious metal, LEAD will become the medium of exchange for food and water untl a barter society establishes itself. Get a skill, folks and buy 22 LRs so you can put in your time on the range.
Jobs only cease to exist when business aren't allowed to demand lower wages to match the new money value.
Loans in a deflationary environment have higher interest rates to reflect the future higher value of the cash.
The only people who are hurt by deflations are spendthrift individuals and governments with a crap-ton of debt.
If you leave the market the fuck alone, it compensates for deflation.
Yellen is a fucking lunatic. And this clown is Fed Chair. God help us.
He desired to help U.S. & very much blessed U.S. and He even put many obstacles in our pathway to destruction as well, but we spit in His face and now He has left U.S. to our own devices and that leads to self-destruction...the wrath of abandonment. see Romans 1:18-24
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Direct correlation to the abandonment of Christian principals that the nation was founded upon and the moral decay and rot we now live.
She was just caught telling the truth
Santelli has some appeal at times(just like Satan) ;) but seriously he is a puppet leader in the dialectic manipulation of the masses. His job is to take anti-fed people and lead the into the "deflation" hawk team. That way if the fed raises rates and everything crashes they can blame all problems on the tea-party deflationistas and give power back to the inflate bubbles camp.
Listening to this "woman" put more than two words together as well as
trying to explain the complex circumstance of the world economy wih more words that exceed my two limit maximum is more than enough evidence to unequivocably state that WE ARE FUCKED!!!
What did Alan Greenspan say? BUY GOLD....BITCHEZZZZ!!!
Zimbabwe Yellen.
Mrs Debtfire.
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
Butt, are you happy?
One_Hundred,
Why do you post on Zero Hedge? Just asking.
Obviously Janet has never heard of "capital controls"
You want to remove $100,000 of you money in cash? The bank is going to tell on you to the local police department who is going to come to your home and question you about why you need such a large amount of cash. Failing to give a satisfactory answer means they will confiscate it under asset seizure laws with the assumption is it going to be used in the commission of a crime.
What a country.
...
My name is Heavy Duty, I grew up picking fruits and vegatables all across the united states. When this goes down it's not going to be a big deal for Mexicans. Good luck to the rest of you.
I grew up shoveling and finishing concrete, swinging a hammer, hunting, trapping, growing half-acre garden by hand.
Anyone coming into my garden better be invited.
Tyler,
Consider bringing back an open thread for Friday and Saturday nights (with soundtracks!) that would encourage posters to 'curate' (and respond to...) specific sub-threads according to their particular interest.
Seriously. Potential flea market-posting gold!
My 2 cents FWIW.
Keep up the awesome work.
Cheers
I second the motion so acording to the rules and regulations of this here domain, the motion passes. Bring back the open threads bitchez.
My best guess is Santelli is jealous,because Yellen has a bigger schlong than he does..
Maybe, butt Santelli need not strap it on.
Look.
It's time to get small, fit, and to stay out of the way.
Use your resources to buy things of utility and value now. Deflation or hyperinflation doesn't matter to the broke and out of work. Stuff you can use does, and it'll likely not be available one day soon.
Hyperinflation puts things out of reach, and deflation leads to job loss, and no means to purchase anything anyway. In either case, once available stuff is snapped up, it's gone for a good while. Better to get it now.
If it gets bad enough, garden tools will be worth more than gold...
It's time to stop listening to these cranks prophesying recovery. If they couldda, they wouldda by now.
m
Evidently printing cash to dinance (a) margin loans to hedge funds and (b) share buy backs is not satisfying their fool's mandate.
They are hoping they can get people to buy shoddy temporary goods with that cash so they can keep the music playing long enough for the rich to buy seats ( real assets ).
Musical chairs with nailguns.
"Finance?"
That said following:
- The Iraqi gold shipped to the US in 2000 and after, and all the oil...
- The Afghan resources (huge mineral resources) since the invasion in 2003
- More than 144 tons of gold sent to the US after Lybian "liberation" in 2012, and all the oil...
- Ukraine gold reserves secretly shipped to the US, (confiscated by the Federal Reserve, "taken into custody")
- Now from Yemen...
- The continuous looting of most of Africa and Latin America
- The pillage towards the own NATO countries' citizens
And some have the courage to use definitions as "Third World".
We're stuck.
No evolution on sight.
Same criminals in charge as it has been for thousands of years.
Human Nature has been in charge for thousands of years.
Now, you can take the Red Pill, Neo, and become a master of your human nature with a goal of higher ideals.
Or, you can take the blue pill and go back to being popular and a schmuck.
Yeah, as I said, no evolution on the horizon.
This is where the Club FED wants to go
http://www.glabarre.com/item/4_Zimbabwe_Notes/5831
More is better, so even more should be betterer.
They are using same methodology that created the problem as they are trying to fix the problem. They have litterally painted themselves into a corner, their only solution is to apply another coat of paint. The only way out, is a big big boom so they can blame on terrorists, that's why the economy will crash, NOT because the Club FED is printing endless amount of money that doesn't exist. If you live in the US, you might want to go on a Holiday anywhere outside the US in September.
Being an American outside the US when the Federal Reserve crashes the entire world's economy might be a mite dangerous.
When the dollar was starting to crash after Nixon abrogated Bretton woods, American tourists found themselves unable to pay hotel bills in dollars ... they had to rush to the bank to get local currency to settle their tabs, and took a huge hit at the banks.
My dear Rick, only Stawks are a store of value in our Centralized Soviet System. Get with the Plan, soldier, come on in for the Big Kill.
In other news, Hillary accidentally reformatted her hard drives. Gowdy is pissed.
We'll be back with more of "Alice in Wonderland" after these messages from our sponsors.
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Hello, serfs, Hillary here. As a lesbian, being married to Bill to forward my career has not been easy. I am owed after all the crap I put up wiith. And that is why I should be your President. I have millions of dollars I gamed from bribes and whacking foreign rulers. Under my Rule America will kick ass and take names! Even if all of you die in the process. You owe me, America! You already voted for a fake- twice! Vote for the Real Deal! Vote Hillary in 2016!
It is low for ZH to re-interpret her words like this, as clearly the quote is taken completely out of context. ZH is getting desperate?
Not sure what is out of context there. Seems pretty clear what she is saying. She said that cash is not a store of value. Those words left her mouth. What she is saying I believe though is that she is not sure why people in Europe are not holding cash outside of a bank though. She makes a good point too. Isn't a shoe box full of paper bills returning 0% much better than a bank account returning less than 0%? Of course if you are going to have a shoe box full of some store of value would it be better to fill it full of paper or would it be better to fill it with silver? Its a mystery.
Anything under the mattress can not be bailed in.
What I would seriously entertain is a bank which pays me no interest whatsoever or requires me to pay something to use my money, so I can tell them they have no business knowing my Social Insecurity Number. After all, there will be nothing earned in interest for the IRS to withhold, and maybe a tiny fraction of freedom can be restored.
What she sasys means little. The bankers and their grandmother are standing in front of this:
http://theeconomiccollapseblog.com/archives/12-numbers-about-the-global-...
From article)
"...The following are 12 numbers about the global financial Ponzi scheme that should be burned into your brain…
-$1,280,000,000,000 – Most people are really surprised when they hear this number. Right now, there is only 1.28 trillion dollars worth of U.S. currency floating around out there.
-$17,555,165,805,212.27 – This is the size of the U.S. national debt. It has grown by more than 10 trillion dollars over the past ten years.
-$32,000,000,000,000 – This is the total amount of money that the global elite have stashed in offshore banks (that we know about).
-$48,611,684,000,000 – This is the total exposure that Goldman Sachs has to derivatives contracts.
-$59,398,590,000,000 – This is the total amount of debt (government, corporate, consumer, etc.) in the U.S. financial system. 40 years ago, this number was just a little bit above 2 trillion dollars.
-$70,088,625,000,000 – This is the total exposure that JPMorgan Chase has to derivatives contracts.
-$71,830,000,000,000 – This is the approximate size of the GDP of the entire world.
-$75,000,000,000,000 – This is approximately the total exposure that German banking giant Deutsche Bank has to derivatives contracts.
-$100,000,000,000,000 – This is the total amount of government debt in the entire world. This amount has grown by $30 trillion just since mid-2007.
-$223,300,000,000,000 – This is the approximate size of the total amount of debt in the entire world.
-$236,637,271,000,000 – According to the U.S. government, this is the total exposure that the top 25 banks in the United States have to derivatives contracts. But those banks only have total assets of about 9.4 trillion dollars combined. In other words, the exposure of our largest banks to derivatives outweighs their total assets by a ratio of about 25 to 1.
-$710,000,000,000,000 to $1,500,000,000,000,000 – The estimates of the total notional value of all global derivatives contracts generally fall within this range. At the high end of the range, the ratio of derivatives exposure to global GDP is about 21 to 1.
Most people tend to assume that the “authorities” have fixed whatever caused the financial world to almost end back in 2008, but that is not the case at all.
In fact, the total amount of government debt around the globe has grown by about 40 percent since then, and the “too big to fail banks” have collectively gotten 37 percent larger since then."
http://theeconomiccollapseblog.com/archives/12-numbers-about-the-global-...
Over $8 trillion of our debt since January 20 2009
The goal has always been to bankrupt America and that is exactly what "they" have done.
The Jewish monopoly of the FED for 35 years and counting is reason enough to mock, ridicule, and otherwise discount the words of the FED chairman.
'The art of lie brought to a new level"
2015 https://www.youtube.com/watch?v=9fR7QcqxAQk
49 Min 2015 - Parasites in US (personal interviews and exposure of influence)
Their tenure of the Fed began around the same time they stole nukes from the US.
I wonder if that's a coincidence?
"Cash Is Not A Store Of Value" Niether are banks and upper management. please jump from the nearest window
take off your shoes so you don't scuff the window sill
Is it just me or does anyone else get the feeling Yellen was put in because they know shit is going to crash (or rather they are going to crash it) and she is the patsy?
Bitcoin is the only viable form of money.
government control in digital form
A sucker is born every minute.
---------EVERY ZH READER SHOULD BE PUTTING 110% OF THEIR SUPPORT BEHIND ALAN GRAYSON-----------
----------------------------TYLER NEEDS TO PUT LINK TO CAMPAIGN IN HEADER
----------------------------------------------F'n UNMATCHED!
http://www.huffingtonpost.com/rep-alan-grayson/aaron-swartz-killswitch_b...
sad that Kardashian has a 30 million followers while Grayson has just 58k
https://twitter.com/alangrayson
Last month, I gave this tribute to Aaron Swartz, an internet activist, when I hosted a special Capitol Hill showing of the documentary Killswitch. Aaron was targeted for prosecution for his political views and, facing decades in prison, he killed himself. The documentary not only demonstrates how modern technology threatens our privacy and freedom, but it also recognizes the sacrifices that Aaron Swartz and Edward Snowden made on behalf of those fundamental principles. Aaron used to work for me. So when I introduced the film, I had a few personal things to say:
I'd like to begin by sharing my war experience with you. I remember when I was under fire ... Confederate fire. And Oliver Wendell Homes turned to me, and he said to me, "Get down, you fool."
I'm sorry, no, that wasn't me; that was actually Abraham Lincoln. I'll confess: I'm not Abraham Lincoln, nor am I Bill O'Reilly. But the nice thing about living at this point in time, in the early 21st century, is that you can actually check my story, right? You can go on the Internet, and find out whether Oliver Wendell Holmes actually ever said that to me. (By the way, he did say it to Lincoln.)
We need to do what we can to preserve that freedom, the freedom to find things out. The freedom to have that magical machine that people started to write about in the mid-20th century, that magical computer where you could ask any question you wanted, and out came the answer.
That's a magnificent accomplishment for humanity. But there is another even more important, magnificent accomplishment, which is that the Internet lets us find each other. Not just find out facts, not just find out numbers, but find other spirits, other souls who, in some way that matters to us, are like us. Kindred spirits. That's a space humanity has created for itself now, that never existed before. It lets you connect with somebody in Bombay, or Tokyo, on very deep levels, when just a short time ago, they were not even a part of your imagination. And that's something that we have to work hard to protect, because it will always be the case that selfish interests -- whether it's multinational corporations, the military-industrial complex, the spying-industrial complex, whoever it might be -- they will try to take that freedom away from us. It's happening right now. That's what you're about to see [in this documentary].
Now, we're going to hear about two people. I never met Edward Snowden, but I did know quite a bit about Aaron Swartz. In fact, he worked for me, for a period of time, a few years ago. And he was brilliant, as you'll see for yourself. I'm sure that whatever this film may say about him, it can barely do justice to what a special human being he was.
She gets paid $240k/year.
compared to an ordinary amurican yes, she is a good middle class.
Compared to Draghi, who gets Euro 500k/year she is nullified. Compared to the son-bankster of my friend, who is at Euro 700k/year she is blank.
compared to Wall street banksters with their millions per year..
She is a talking head, reading the script, she gets every morning from GS.
She is a laughstock & deception. FED does not decide anything, FED is a bogus entity, run by Wallstreet. The chief of FED is always a moron, I must admire the jews, who are willing to play a chairman role in this commedy. It makes them look like idiots.
Dollar has been a good transaction element but a bad store of value. That is why it has lost nearly 98 % of its value over the last 100 years.
Gold is the opposite, it is a tougher transactional element, being more inconvenient to travel with (in large weights) while it is a better store of value because it does not lose value over the last 100 years
everyone should read tall tom's post. a very important point, obvious, but maybe not to some. we are at war for our country and quality of life, with our own government.
What I heard was please quit hording cash...only my banker friends can do that.
your killing my inflation curve ....
spend spend spend...
create as many taxable events as possible
unless you are broke and then my goal has been accomplished...
makes ne want to add to my cash stash...
If you must hold a store of wealth that has important uses for stayin alive and is easy to trade my preference would be bullets
Beans, bullets and bullion! ;-)
I am no fan of Yellen -
But she said CONVENIENT
Cash isn't a very convenient store of value.
It isn't - even in $50 and $100 bills - a few million and you end up with a hay stack to move around.
Where you going to put it?
You need to protect it so it doesn't get taken.
Not very convenient.
Simply put in one of our super safe banks. Then you can do online banking and use debit card. It's so easy and secure and very convenient. Your millions will be safe with them, to be sure!
Exactly. They heard it wrong and jumped all over her.
That said, the Fed has been making sure that cash is not a store of value for 100 years, but that is a different story.
But there's always bitcoin!
When any Medium of Exchange is properly manged (i.e. cumulative DEFAULTs are exactly equal to cumulaltive INTEREST collections at all times everywhere ... new trading promises are freely certified (money created by traders and extinguished on delivery) at all times everywhere), cash is a "perfect" store of value.
It is easy to mange any MOE properly. The Fed and the US Treasury choose "not" properly manage our MOE.
There are at least two reasons for this:
1. A properly managed MOE does not allow the government to fund itself with INFLATION.
2. A properly managed MOE provides "zero profit" to the MOE manager.
It's not rocket science folks!
The JOKER, played by Janet Y.
The BATMAN, played by Rick S.
Fighting for the soul of Gotham.