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Everything Not Nailed Down Getting Sold
The market has finally realized that "this" is getting real. As of the open everything, including USTs, has been sold off aggressively. Well, except for gold of course, but we all knew that. Gold just hit a new all time record above $1628. In other news, there will be a Republican press briefing at 10 am according to C-Span. Stay tuned.
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RANSQUAWK NEWS NOT WORKING ON THE NEW SITE TYLER..
I was going to mention this, too.
I miss the Ran Squawk feeds badly.
Back On Topic:
Everything not nailed down getting sold, and a lot of things in urban areas that are nailed down are getting torn up in the middle of the night and getting sold, too.
I saw a deserted 480 unit residential development yesterday. It was a PUD (Planned Unit Development) whereby some of the sites had a single dwelling, some had multifamily structures on them, and most sites were vacant.
Anyways, of the 15% to 20% of the multifamily structures that had been completed, which were mostly 12 to 24 unit buildings each, every single one of them had the outside AC units stolen (not a few or most, but all, with the wires cut and copper conduit stripped away. Some security guard that the bank or bagholder hired told me that not only has every single AC unit been stolen, but that thieves have been hitting breaking into foreclosed/unoccupied homes, and stripping all copper wiring from them.
Gotta love this recovery. Hank Paulson, Timmay Break It Again Jeetner, The Bernank and Obama are doing one helluva job, bitchez.
And the Yen. Oh oh.. the Japanese have got to be freaking out....
They're not going to be selling much this month...
Dust off the DOW 10000! ball caps and strap them on tight.
20 Cities Where Housing Prices Are Still Dropping Like A Knife
Read more: http://www.businessinsider.com/20-cities-where-housing-prices-are-still-...
It's you... 07-27 10:09: German CPI Y/Y (Jul P) 2.4% vs. Exp. 2.3% (Prev. 2.3%) 07-27 10:09: Level 3 Communication (LLL) Q2 loss per share USD 0.11 07-27 10:09: DAILY US OPENING NEWS - 27/07/11: NOW AVAILABLE IN RESEARCH SECTION 07-27 10:09: GBP/CAD trades in close proximity to its 20DMA line of 1.5421; trades... 07-27 10:09: Baltic Dry Index falls 1.1% to 1,296 points 07-27 10:09: IMF predicts 2% GDP growth for France in 2011, in line with... 07-27 10:09: SAP (SAP GY) says no further share buybacks planned this year 07-27 10:09: IMF says more efforts may be needed for France to reach 2012-13...
So we have a vast shadow inventory of houses rusting at the pier. Nobody is going to buy them and they can't sit empty without slowly being destroyed.
Bullish for the banks in this topsy turvy world
There's been a spate of manhole cover thefts in the UK. Iron Ore bitchez.
Ransqueek guy was looking fuking ill yesterday, green face, shirt, ears!.. he's knocking on deaths door, give the guy a break ok
U.S. Treasury to ZeroHedge:
"Don't you guys know? It is debt deal discount day for all the Robo-traders on your site. Buy NFLX, AAPL, AMZN, GOOG, etc. Show your patriotic duty. Go long today. Obama will not let you down. Signed, Timmy. P.S. Just signed my contract at head office of Goldman Sachs so I can watch my children grow up in NYC."
What about those new safe havens the AUD and NZD?
Its a new paradigm!
Permanently high plateau!
Not Gold or Silver though.
But, but......they told me that it would be a repeat of 2008 and metals would be dumped overboard as quickly as possible.
Not this time. Loss of faith in unbacked paper currency bitchez.
Screw 2008 bitchez.
Raise the margins! P. Metals are getting feisty!
At this point even 100% margins will not stop this stampede
they told me that it would be a repeat of 2008 and metals would be dumped overboard as quickly as possible.
I will start by saying I have 100% of NO idea what will happen to metals. however, IF metals are dumped it wouldn't be now. It would be if/when the US is downgraded and IF the fools make the Pension Funds drop Treasuries because they are no longer AAA, and also IF the idiot exchanges do undue haircuts on Treasuries as collateral. In that case you'd see margin calls and POTENTIAL selling of metals to cover.
also: metals face another possible headwind if/when a deal is made. IMO the current rapid rise is due to the metals acting as a safe haven from UNCERTAINTY. Once it is certain that the Govt goes on its spending spree then Gold/Silver will lose some (not all) of its luster. It then goes back to being a boring holder of wealth. Nothing wrong with being a boring holder of wealth... quite the contrary... however parabolic moves in metals occur with uncertainty IMO.
the crash of the dollar, although a certainty, may still be a ways off.
All valid points. I agree that IF an agreement is reached shortly metals are likely to sell off (With lots of encouragement from the Bullion Banks who are sitting on masses of new shorts they need to cover) in a knee-jerk reaction. Just like as the Euro pop on the so-called 'Solution' to the Greek issue being agreed last week.
However, like the Greek agreement, it seems to me that there is no good answer to the problem the US faces, and once the Debt Ceiling deal has been digested for a few days, and the pressure will resume and metals will proceed higher. Again - just like the Euro deal.
Can-Kicking will no longer suffice to calm the markets, I feel.
I agree fully.
I hate every politician (except Denis Kucinich and usually not Ron Paul) and almost every finance person on Earth right now. they have messed up so horrifically bad there is little to no way out.
I wish I had the absolute devotion to the metals that some on zerohedge have, and could go "all in" into the metals. But I have nagging doubts.
Thus, I have tried to put myself into as "safe" a position as possible. But the economic winds are way too uncertain given all that Big Govt and Big Biz have done. Thus, I paid off all debt this year including my house once I found out it may not have been securitized by Wells. Also CEF in my IRA. But I have a sizable holdings of Treasuries in my 401k (what else can I put it in?) and over $100k in cash in a credit union (Took all my money out of that bastard TBTF Wells).
I hold some metals but not enough. I am constantly afraid to pull the trigger on more. That is my weakness and I get it...
am I safe enough? who the hell knows. According to some ZHers I should convert all my cash into Gold or Silver. But that too has some risks... thus, I sometimes post "are you sure" type of responses on ZH and at times I am junked to hell or called a socialist. But I don't care because unlike others I don't worship gold... instead I see it as a very useful asset whose value I am having difficulty evaluating. and unlike some of you I can't just go buying $100k worth of gold or silver based on comments like "Gold bitchez" or "Gold has maintained its value throughout time" (it has not, its value fluctuates although much differently than fiat).
Silver Bitchez!!! That was good enough for me!
Take a look at the miners - they are still cheap by any reasonable standard - they give you exposure to gold without paying 1600 an ounce plus - just be sure to hedge your paper bet with some of the things you might otherwise need physical for - unlike the PMs, you can buy physical food on sale with coupons.
Fuck paper.
Miners are a good way to get exposure but here again the rule of law, and ultimately trust is a valuable commodity. Governments have a way of laying claim to gold that is unlike any other "commodity" which is why the value of it above ground becomes almost sacrad.
As a holder of deeded mineral rights with proven reserves in CA, I've seen the US begin the seeds of reclamation during the Clinton era with the rewriting of BLM statutes limiting and tying up reserves out of the reach of the US citizen. The closest thing to a personal federal reserve is a hole in the ground with a high grade ribbon. Which is why land patents, assay offices and mints are such a threat to the current state of affairs. Can't have the people of the US be soveign individuals, best to keep them "citizens" and "taxpayers". Besides, our (s)elected officials are so much smarter and qualified to tell us what to do.
.... and unlike some of you I can't just go buying $100k worth of gold or silver based on comments like "Gold bitchez" or "Gold has maintained its value throughout time" ....
Just a bit disingenuous, don't you think, to conclude this is the only basis for ZHers' enthusiam with the shiny stuff.
You might want to read/listen to more of James Turk, Bill Muphy, John Embry, Eric Sprott, Marc Faber, Jim Rogers, Felix Zulauf, Ben Davies and a host of others, who together manage ten of billions of their own and other people's money. They have all concluded PMs are the place to be given the current macroeconomics and their decades of active investment experience. While none of them AFAIK have written "Gold bitchez", no doubt they think it and have bought theirs in size.
You need to buy more metal bro. Just do it. Nothing will be safe including your paid off home.
I agree with buying more gold/silver but you just know it will get knocked back once a deal is made on the debt. It will take off from that point once the dust settles but that may be at a sub $1500 price.
No one can know for sure but based upon past senarios, it is unlikely that gold will continue it's constant move upwards.
If this comment comes up in the small print that it is showing on my screen, how do you get it to be larger?
I understand your reluctance. Gold's most useful when held in trust by a sovereign power. In the past, the US entrusted this virtue to it's inhabitants. Not so much anymore. If things get bad, the best a gold possessor can do is get a one time shot at exchange. The basic value to all commerce is trust.
The US is currently suffering from a populace that has become so jaded and distrustful of any and all forms of authority that I fear it's restoration may not occur with the current generation. This did not happen in a vaccuum, it's on parade every day. If the borrowing doesn't stop, our future generations will become ever more fearful and reluctant to engage in productive and meaningful activities and pursuits.
I'm in favor of equal application of uniform laws of bankruptcy and congressional control of providing sound currency for the people of the US. These two items, with a cessation of borrowing, will go a long way in establishing resitution to the truly aggreived and reconciliation among the populace on our way back to the restoration of the trust in the rule of law. imo.
"The US is currently suffering from a populace that has become so jaded and distrustful of any and all forms of authority that I fear it's restoration may not occur with the current generation." ??
I'm not sure I understand, I always had the impression (from the outside) that the US Citizenship is waaaay to trustful of Government in general. There was this question about "would you inform the police if your father/mother did some damage to community property with the car" and the US was at the very top of the "YES" answers, followed by all english speaking countries. Compare to Greece!
Interesting. I may be overstating it. Instead of "authority" maybe is should say commercial enterprise and the regulations designed to control it, including the fourth estate.
By and large, the "police" in the US are our neighbors, fathers, brothers and friends. Police are typically required to live within the areas they're employed in. Our police are not considered occupying forces.
Trust on a local level is not the same as trust in our (s)elected officials and the commercial enterprises that placed them in their current positions of "authority".
(in my personal opinion)
Move your 401k Ts into a self-directed IRA, it's not like holding the physical, but it beats worrying about your loan to Timmay defaulting.
Understand your concerns, but surely holding physical with no counterparty risk is better than holding faith in the current banking system. Appreciate you've switched to Credit Union, but wouldn't they be as affected by a 'Bank Holiday'.
If you're going to keep cash, I'd keep some of it under your mattress, at least you can get at it, then invest as much as you feel comfortable in silver, gold, food, water etc.
This is certainly a possibility. I hope it is correct. I've been hoping for one last chance to load up. I've been wrong to wait so far though.
"the crash of the dollar, although a certainty, may still be a ways off. "
Agreed, The dollar is trash ONLY relative to the printing of alternative currencies...From what I observe, the EU, UK, Japan & China are ALSO printing like hell.
If the CB's all make sure that their CRA's ratings get dropped from AAA to AA AT THE SAME TIME - then there is no incentive for the vigilantes to hammer any single currency.
The implosion of the dollar will take longer than it would otherwise if there was an outside system of checks.
The CBs and their masters will make sure of this.
Remember that generally Central Banks can only print at full speed if they get "proper"collateral from the equivalent Treasury.No Deficit spending = no increase in Bonds issues = less printing possible. Bernanke has become the biggest Treasuries holder, yes. Still, they had to be on the market, first.
I'm digressing: China prints because of the peg to the dollar, Japan because of similar reasons, the Bank of England is a different matter altogether, but please, the ECB is really trying not to. USA is the leader of the game, the others follow, each in his way. Any substantial currency that gets too good and you get the "hot money" flowing into like a river of molten lava, ready to flow back at the whim of a CNBC newscast. Remember the Asian Tigers?
Latest news, dude: metals are getting dumped too right now. They are not fastened down either.
Yeah. 3rd day in a row at 10:45am. I suppose that's normal. Large traders routinely operate by selling at a set time of day regardless of fundamentals, technicals or newsflow. They just set a clock and then sit back with a coffee and donut waiting for the magic hour.
Gold and silver are doing well.
But SKF is kicking ass and taking names. I'm still scared of the ultrashort funds... but I gotta say...
The ultra short funds do not work. Compare SKF to it's "non-inverse" counterpart. You'll see that SKF doesn't properly mirror the results of the "non-inverse" index. There are periods where both indices lose.
Bait and switch history. TPTB want you to look back a few years and do what you are told, but will belittle you if you look back further in history because it reveals their scam.
meh... less than 1%. if the idiot-tards ever really figured stuff out the market would be down a minimum of 3-4% and more likely 10+%. However, in these days of the Greenspan/Bernanke put every day is up, and a 0.5% drop is a catastrophe. hahaha. is this all the fear the markets can manage?
It's early in trading yet. Wait a bit.
European Indexes just (tried) to drop off a cliff in sympathy with the US Indexes in the time they had remaining today... if the US Indexes tank rest of today it'll be everyone cuing up overnight for the Exiits at Euro-opening tomorrow (sleepless night for the Hedgies here)
Rome burns as the two parties clammer about cutting less than 8% of the annual deficits we run.
What a total circle jerk.
Let it be known to all in the land that the two-party system will now be known as Bukake Kabuki.
Kabukake?
Japanese for 'Kick the Can' yes?
can full of peas
I'll just call it
Bernanke
I want to SHORT Timmy Geithner, but NATURE beat me to it.
fuck paper fiat
My name shall suffice.
but... he was quite charismatic and some of his songs were great.
<-- Down 1%+ by close
<-- Green by close
Brilliant use of the junk arrows as an instant reader pole mechanism.
As a moderator I'm gonna give you my first thumbs up dude. Very nice for a monkey.
Thanks CD!
It was all Cheesy Bastard's idea though. http://www.zerohedge.com/news/morgan-stanleys-q3-outlook-gold-silver-rare-earths-and-every-other-metal-under-sun#comment-1496074
And then nothing happened when I pushed the moderator's "Like" button. Time to email Sacrilege.
Oh well, it's the thought that counts......right? :)
BTW thanks for giving credit where it is due. But since I didn't see the original, I applaud the copy. :)
Proper attribution in a self-regulating society?...albeit online.....See the free markets do work!
"Why don't we give freedom a try?" - Ron Paul
So which is it...we're all smart enough to decide for ourselves....or we're all idiots who keep voting for the equal of two evils?
LOL, good polling method. I think you will start a new ZH post format style.
Tight race so far. I voted only because you showed incredible improv skills. Keep those, they'll come in handy soon enough:0
Could we finally be pushing the great "reset" button that should have been pushed in '08?
not yet…congress wants to push the market lower so they can buy stocks low…announce a deal is done…cause the market to spike up….then sell again. Then the game will be over. One last push to make bank before the wheels come off.
I tended to agree up until recently, but now I feel like I'm close to calling it quits. Of course that's what "they" want so they can ambush the bears with another QE. I guess the question is: when will they run out of rounds in the QE gun?
This isn't about the markets anymore. I don't think even Bernanke believes he can reignite the economy. This is about holding onto power by kicking the can down the road long enough to buy up all the gold. The banksters don't care about the markets, they care about survival, and that means they need as much gold as possible. When gold goes vertical, then the reset button is being pushed.
Good post. We're looking at the scramble for chairs as the music goes into the final chorus.
Good post. We're looking at the scramble for chairs as the music goes into the final chorus.
Open the bomb bay doors please Hal.
Simply means the NY Fed is not pushing the buy button on everything. The DemoRats want the market to sell off to scare the masses.....
Wake up people!!!!
Repugnant assclown...how many times did you vote for Dubya?
Buy the dip?
Which one?
It's getting more interesting by the day.
Hmm, Robo Formula seems to have went tits up today... Paper PM's next...
Yesterday I actually found myself feeling sorry for Robo...............NOT.
Don't be jealous Hulk you know the Robo Forumla always sells at the highs and buys at the lows. Why you so mad?
Thats an old photo. I am actually quite happy these days!
Ooo! Are the Republicans going to announce a return to the Gold Standard? Cause that would make sense.
Nonetheless, they'll comfort us with very complicated math I'm sure.
That would be the immediate end of the USA. The euros and chicoms would force unconditional surrender. Let me explain how this works, with some snarkyness, but in the spirit of protecting the people here who do actually hold gold as an asset, and dont understand what gold standard would do.
Thats how it will work this time folks. We got off easy last time cause the euroes basically let us "have" thier empires if we finished the colonial process (the dirty parts) in exchange for our gold. http://en.wikipedia.org/wiki/Nixon_Shock
If you hold PMs, expecially paper PMs, you actually want the existing "less than sound money policy" to continue.
Junk away, but this is the same old story of every empire. Read about what the farmers in the Rome countryside said to the barbarians asking where thier gold was. They pointed tword the city (holders of PMs) and said "They have the gold"
Is it possible to have a precious metals standard that is not redeemable for said precious metals?
Perhaps an "independent" audit of the precious metals held by the US every 90 days?
I don't disagree that everyone would be quick to convert their FRN to gold/silver/etc.
The PM markets basically provide that to us now. And that is why this place gets crazy when there is even a rumor that a dealer can not ship physical. Gold basically is the one-world currency. Just because we dont know how much gold the FED has does not mean that everyone doesn't.
But the rothschild "I care not about the laws ... only the money" conspiracy platiutude does not apply anymore. It is how money is taxed that matters.
let me put it a different way. CNBCs Jim Cramer invests in gold heavily for his tax exempt charitable trust. And announces that constantly. He is not dumb. We make hate him, but he is not dumb. All of the elite do the same thing. Go back and look at John and Teresa Kerry's tax forms from when he ran for president in 2004 ... Democratic, billionaire hero of the people, payed 11% effective income tax. Pelosi has $20 Million in APPL which pays a similar tax rate.
Long story short. Fiat/gold are not the incentive model for productivity anymore. Quality of life + Power is. Money can only buy power/control if it is tax free. And PMs enjoy that status for now ...
In short, instant bank-run and unstoppable collapse and deflation, but an awesome plan....for the < 1% who already own gold.
snarky internet meme: Snowball. This is burrow. your membership in the 1% of people who hold physical was sent not secure. go green. go green.
In other words, in this scenario, if you are an american see #9. You will run out of ammo and kin folk before the other 99% does. Just look at what 51% of the people in the USA who don't pay taxes are doing to the system.
I don't really see TPTB switching to a pure gold standard. It will have some sort of out. Maybe non-redeemable paper backed "99.9%" by gold. One year later, 98.9%, and so on and so forth. I also see them ramping the price of the gold they hold so as to create the appearance that the currecy is "backed by gold"
You are hilarious! A hundred points for the well written argument. Right on many points...
Sadly, you are wrong on some points. The most important one is this: NIXON closed the freaking "gold window" because some of what you call the "uppermiddle class parasite" European countries WANTED THEIR FREAKING GOLD BACK!
Yes, on the surface it looked like they wanted to redeem USD debt in gold, but if you look closely a huge chunk of European (CB) gold, (sold as gold, not as USD debt) is still in New York in the basements of the NY FED. And it will never be sent back. So stop whining about the "sophisticated". They are waiting since 1971 and will wait forever!
Empire? Finishing their colonial process? Doughboy, you got that completely upside-down! Look who has military bases and where...
Mutual asserted snarkyness acknowledged.
Whose gold was it? Didn't you old world folks haul enough gold out of the colonies before 1776? When you all tried to tripple dip in 1812, we sent General Jackson down to New Orleans, and hopefully us hayseed doughboys have the wisdom to do it again.
Same thing goes for running your former colonies. America's superpower status has been and still is a net drain to the US infavor of the nations who recieve the stability and the money outflows of the foriegn bases. Ron Paul is right about this. He is the anti-thesis to the "upper middle class" american I was reffering to who thinks foriegn countries can not contibute to world security. (or should not, cause they are so sophisticated, they dont need a miilitary to protect thier economies/trade)
Again, mutual snarkyness, and good points on your side as well.
Ok, ok. There is always the danger of having to debate back to Cain robbing Abel. And compliments for kicking the Brit's asses in 1812. Not a Brit, me, more continental...
I was thinking more of what was very clear to Nixon: some of the US debts were in FRN, some in gold, and even more gold was shipped to NY during the world wars. For safekeeping. Which is good, as it is safe (or in a safe). Some of it belonged to countries which never had colonies. Nixon twisted a lot of arms to put the FRN on the current pedestal. Did a reaaaally good job.
As for Power or SuperPower Status: it is easy to calculate how much an empire costs, and it's very difficult to calculate how much the profits are. In general you would expect that the real beneficiaries are US-based multinationals which can leverage their "got a bigger Uncle, and his name is Sam". Monsanto, Coca Cola, Disney, IBM, Microsoft, Apple, etc. In general all the leviathan stock that is going generally well because of the "exposure to the world". Of course, they don't pay an "imperial tax".
Ron Paul is great, if he would smile more he would have a chance. What he does not know or openly say is that the military-industrial complex of the EU countries would be more then willing to "take up the slack". It's the US complex that is not willing to make space and using a lot of lobbying power to coerce the BAD former Colonial European powers to keep a very low military profile. For example when France and the UK wanted to trash Egypt in 1951, etc. etc.
Well said. we are about 90% in agreement if we have the baseline assumption that Nixon was a puppet, as are most presidents. His dirty deeds were teleprompted for him just like the current office holder.
And snarkyness aside, the FED does deserve some credit. I'd rather have the bernake and his academics run flawed monetary policy than what many people advocate (letting our politicians do it). And we can not go to a gold standard, as already mentioned.
Most importantly, you are right about the lack of imperial tax for the "double dutch, irish jig, manahatan transfer, cayman island vacation" corporations that people think are american, yet they pay no taxes to america. snark: Let the guy who makes $50k/yr, never been to europe, might have served in the military, cant afford an I-Pad, gets no subsidies ... let him/her pay the USA's taxes .......
100% on that. That's why I think flat taxes are better. Let's every taxpayer get the "most favorable rate" of 18% as the top 400.
I don't call them multinationals anymore, they are transnational.
And by the way, the above is also part of the reason why the US foots quite a lot of the bills of the World Bank and the IMF and why the first has an US boss and the second a (very often French) EU boss, etc. In the Seventies dear Nixon did a LOT of dirty deals, not only inside the US.
If you want to research the above, look at the gold swap deals running since decades.
So yes, I agree, back-to-the-gold-standard is not an option for the US of A, not as long as the FRN is alive.
I predict that ultimately the government will decide to print and borrow more money.
Anyone want to take the other side of that?
Only a Masochist would.
And the Rothschilds are doing big business with Russian Aluminium baron Oleg Deripaska.
http://www.enplus.ru/en/governance/board_of_directors/
Thanks to the ZH commenter who brought this to my attention.
Paper money is for the sheeple, it's the modern day glass beads for the native Indians.
Real stuff is for TPTB.
And who made Klaus Kleinfeld boss of Alcoa ?
That couldn't have possibly happened that a German gets the top job at an American multinational corporation had Mr. Kleinfeld not attended the Bilderberg meetings.
I read that article from dont tread on me / silver shield, too. Starker Tobak. Paper money = Sklavenkonfetti.
And in other news, last night's crop circle discovered in England features a a toking alien.
http://www.cropcircleconnector.com/2011/cherhillwhitehorse/cherhillwhite...
Know your memes
The Most Dangerous Word in the World...
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/07/most-dangerou...
OT: Hilarious 2 Min Vid...
http://www.youtube.com/watch?v=W0Uju3tYS2s
USD/JPY is the best buy on the market right now....even with stock crash and default...dollar gains on Jippy
Dollar has fallen significantly against JPY, I'm a buyer down here, because the Japanese PM will be intervening soon.
My first post !
I'm a gold dealer in Canada - for first qtr, silver was selling like hot cakes - now its gold.
Lots of people have all the silver they want (or have room for)
Now they're buying physical gold - from investors buying 100oz to smaller investors just buying 1/4oz Maples
Gold is in demand
Welcome Bullion King. They are not purposely ignoring you, just preoccupied with the hot action this am.
You're anecdotal updates on PM sales will be greatly appreciated... along with whatever else you have to say.
Welcome Bullion King! Any stories you want to share from your customers would be greatly appreciated.
Some people here are very touchy about their PMs. I believe gold is the better long term investment because central banks (in general) are not stacking silver, they are stacking gold, and being very sneaky about it. That's all I need to know.
On the other hand, there's no way silver is going to underperform, and it is more practical to use as money. So both is a can't lose strategy.
Although I want to see how the Government responds to the soon to be housing blow up in Canada I am eyeing the Canadian Dollar.
If the government does the right thing and lets the banks that made bad loans fail and they don't follow the US and Europe on the futile printing press road the CAD will be one of the strongest currencies in a few years.
Canada has a Debt to GDP of about 35% (Very low) and they have a wealth of natural resources.
Funny when I was a kid I would accidentally get a Canadian dime back as change and would throw it away. I guess Canadians may be doing that with US dimes now!
I like the Krone too but Canada is so close
See post below Archie
Don't count on Canada holding up real well if the Canadian dollar keeps going up. We are an export country which will be hurting a lot with a $1.25 dollar. The US is still the largest trading partner and if it is in worse shape, it will knock us down with it. A clip on the news last night showed a leather manufacturer in Ontario whose sales are down 60% yoy due to the dollar.
The Canadian banks will not get killed in a housing crunch as most residential loans are CMHC (govt. corp) insured and the taxpayer will pay the price. Anything not CMHC insured would have had a minimum of 25% downpayment. They keep talking about the rising real estate prices here, but that is only in pockets. No where outside of Vancouver have prices gone up over the past two years in British Columbia. The housing bubble is limited to the major cities and that has a lot to do with Chinese demand.
Everything not nailed down getting DEMOLISHED
BofA Donates Then Demolishes Houses to Cut Gluthttp://www.bloomberg.com/news/2011-07-27/bank-of-america-donates-then-de...
We already knew that banks work like demolition companies, but I didn't know they could do it literally :(
Don't worry; they're still marked to myth on their books even when they no longer exist.
i guess nobody dared fight 'uncle gorilla" before they fought him.
With a default, the US Dollar becomes the strongest currency in the world again. Think about it, Benny had to know this all along........
With the global banking system as it is and the pending economic collapse, no fiat currency will be strong. The money as debt ponzi scheme is quickly coming to an end, and I'm happy to see it happen.
This whole circle jerk is almost amusing if it wasn't so pathetic.
Even I, a self described cynical bitch, is amazed at the level of dysfunction going on in Washington.
I an listening to c-span. So far there isn't one congressmuppet that doesn't deserve to be gonged off the hill within the first 30 seconds of speaking.
Please, don't blame the President for this. Hold him accountable yes. But hold everyone else, democrat, GOP and every American citizen accountable. You want to be lied to, your democracy is exceeding to the upside on that account.
I BLAME OBAMA. He could have, and should have, started the debt talks months and months ago. Now he wants a quick fix: cut the SSTF, cut Medicare, and medicaid, and cut Head Start, Obama is a fascist war monger. He worships the devil. He dances with demons. I BLAME OBAMA, but yes, I blame them all.
The real statement you should make is concerning who is accountable. You, I, and all other Americans are accountable. Obama said "The American people do not want to be concerned with the debt ceiling." Well, that is a lie (he does that a lot). We do care, so we should do something. We should march on DC, and every other city is this country.
One does not simply march into Mordor on the Potomac...
Obama said "The American people do not want to be concerned with the debt ceiling."
Yeah, and in other news Mr. President: Fat People Do Not Want To Be Concerned With Gravity
Obama will win on this. The size and expense government will grow and grow until wholesale private property confiscation remains the only way left to feed the leviathan (his plan all along). Eventually however the whole thing will collapse on itself (reality).
Collapse is more or less inevitable at this point but sooner (better) rather than later (worse) is the come-to-Jesus conversation most Americans aren't willing to have right now.
Once you see the wisdom of "sooner" the sign you want to be holding is: OBAMA IN 2012
Kitco Silver Lease rates say ZERO.....for the one,three and six month lease and the one year.
Free silver all round.
Fwank is speakin on da fwor ob da houth an he wooks wike he wath ub dwinkin aowl nide wong.
Chuckie Shumer is saying Obama went all the way with Republicans and we should recognize that is better than meeting them halfway. Doesn't Chuckie know Obama is further right than most Republicans?
And Federal Reserve Bitches are testifying to Congress. I must have missed the Boehner show this morning.
CSPAN is so worthless. I can't believe Americans still support our political system.
Is that UpChuck Schumer you speak of? Excuse me while I run to the can to throw up!
He may be a sonofabitch, but he's our sonofabitch.
(applicible to all us NYers whether we voted for him or not)
Sonofabitch? No, he is just stupid.
US dollar collspsing against everythig else. Rapid loss of confidence.
This is EXACTLY what will happen on a way bigger scale somewhere down the road.
The CIA better have their own money printing machines so we can close in the green.
selling? yep. maybe this will be known as Grey Wedneday
those new "republican" congresspersons may be starting to wonder what the hell they were thinking, running for office.
hang in there! BiCheZ!
this is **NOT** real
"(it has not, its value fluctuates although much differently than fiat)."
Back to school for you. Using fiat as the constant is your mistake. Ask yourself this: If/When your reasonable side is proven
correct and fiat realizes its true worth as a currency "by decree," what's a lousy 5-10% exposure to metals going to do for you?
you talkin to bugs or daffy?
zsl bid size odd traffic and two mins later TOTAL SMASH DOWN! haha
Big Blue, meet Deep Red!
<------- Jeethner is an idiot
<------- Oh no he's not.
sorry guys that was my 1 lot zsl @ 12.80 I will try to be more careful next time. the robots are hungry.
thats not a sell-off. we want a real sell-off.
5% or bust.
VIX is up over 2.0 pts today, yet equities are finding support?
Gotta hand it to rocket scientists; they are better at number manipulation than anyone.
What are the odds more than a 100 pt drop in the DJIA today?
"For every credit Bubble, there is a credit Bust."
Action = Reaction
What goes up must go down.
Remember what just happened in Norway...this could happen in Washington
Gee, ya think?
http://en.wikipedia.org/wiki/Beltway_sniper_attacks
Interesting that the markets are falling and gold is now flat. Does that indicate that gold is not yet the liferaft of choice, or does it indicate that the manipulation today in gold prices is especially powerful? If the latter, the snapback in gold prices should be impressive.
Big Banks to Congress - WE WILL scare the dickens out of you then. Boys....hit the sell buttons!
In addition to limiting the rights of people injured by corporations, under the guise of limiting "frivolous" litigation, one ALEC resolution from 2006 supports making it harder for you to obtain any compensation from a company whose negligence killed your family pet. In 2009, Americans learned that many U.S. pet food companies had shipped the production of food for their four-legged companions overseas and that Chinese contractors had contaminated the pet food with melamine to increase profit margins, resulting in serious injuries and death to numerous dogs and cats in the U.S.
http://www.alecexposed.org/wiki/Tort_Reform#How_are_corporations_avoidin...
[for the cynical - the US pet industry is worth about $50 billion a year, or more than Sri Lanka, Tunisia or Bulgaria]
The relevence of this? Oh, right - ALEC is a useful yard stick for the way things are going. And they're not going the 'peace, democracy and equal rights' way. [Warning: links will contain liberals]
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