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Gold May Not Be Money But It Is An... Airline? Bloomberg Freudian Slip Du Jour
Ignore the news about what is surely the next airline to join every other legacy, and not so legacy, carrier into Chapter 11 and focus on the headline, where both the story author and its editor seem to have been preoccupied with Freudian ruminations if not on whether gold is money, then certainly how much paper money one can generate by selling gold...
Source: Biggest Airline Debt Spurs Gold Asset Sale Speculation
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*News you can trust* cough
Hardly any surprise at all. Brazil is a basketcase. It's "newfound wealth" in nothing but massive debt brought on by an alcoholic Lula.
And the final two nails in Brazil's coffin will be the Soccer Cup and the Olympiad. Piling debt upon debt, in hope of making a quick buck. They should have asked the greeks how that whole 2004 Olympiad propelled Greece into the first world.....not.
Everybody can remember when Lula increased the minimum wage in Brazil by decree somewhere over 10%. The braindead collectivists of the world jeered and hollered, pointing out that Lula had raised millions of brazilians from poverty into the middle class. In reality, Lula turned those "poor" -but debtfree- into debt slaves, as they all rushed headfirst into the banking system's trap and came out with several new "gold and platinum" credit cards with which they could now buy the latest LCD/cellphone/game console/automobile/boobjob on credit.
What they really have to do is lock it in by building the worlds tallest tower.
Classic!
Brazil is far from being a basketcase, at least when compared to USA, EU and some other parts of the world. Lately it has cut the interest rates to 8%, as compared to 0% in the USA.
I can understand somebody saying that Brazil has a problem with the crime, expensive government, the bad public education and difficult laws in many cases. But still it has so many resources and good demographics to keep its economy in good shape overall.
edit: the minimum wage
Brasil $2.84.
USA $7.25
France $8.58
the public debt
Brasil 54.7%
USA 104%
France 86%
No such thing as wealth in the end-game of the Ponz. Well, unless you're counting the incredible, inedible...
those debt slaves increased their standard of living, asshole, and some, making the right decisions, may have moved past losers like you.
So naturally you hate them for that.
Wrong you idiot. Those debt slaves increased the standard of living of the ones that chained them to their debt, and in the process have sold out their sons and grandsons future.
Dear oh dear. Much to learn has this one.
Classic Jew banker strategy to destroy a nation. Loose money misallocates resources, society is undermined, the inevitable crash comes and rootless cosmopolitans like Souros are there to buy up the country for pennies on the dollar. The IMF, World Bank, IFC are then in a position to keep the country in slavery. Look at what happened to Argentina. Look at what is happening to fine countries like Australia and Canada.
The Protocols of the Elders of Zion may have been a forgery. But if it wasn't a script for the 29th century and beyond, then it was the most prophetic thing ever written.
Mere cliff notes of the master plan....
Look for all those involved to be replaced by fancy story-writing algo after this.
And they changed it, heehee. I did press "prt Sc" before though.
That *WAS* the algo.
That crap is in use everywhere. Most net news is "written" by that now I bet.
Gold Bitchez!
Gol, Bitchez!
Gollum Bitchez!
My precious ........ Gold bitchez!
I think that calls for ALL CAPS.
Goooooooooooold!
LOl, I just saw that on Bloomberg and was wondering what the devil it was about? Southwest loading up on AU?
Contrived headline to get the algos to start dumping gold?
Maybe their editors are otherwise preoccupied....phone hacking????
Offhand, I can think of only two airlines that might haver gold in their investments.
The rest are operating on fumes.
dupe-id
Its not money........it is just a really heavy, shiny, yellow metal stuff that everyone wants, and are willing to trade anything for...
Exactly! See, that's what I keep telling everyone but no one believes me!
Gold is money. Silver is money. Blah, blah.
money
Commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed; it circulates from person to person and country to country, thus facilitating trade. Throughout history various commodities have been used as money, incl. seashells, beads, and cattle, but since the 17th cent. the most common forms have been metal coins, paper notes, and bookkeeping entries. In standard economic theory, money is held to have four functions: to serve as a medium of exchange universally accepted in return for goods and services; to act as a measure of value, making possible the operation of the price system and the calculation of cost, profit, and loss; to serve as a standard of deferred payments, the unit in which loans are made and future transactions are fixed; and to provide a means of storing wealth not immediately required for use. Metals, especially gold and silver, have been used for money for at least 4,000 years; standardized coins have been minted for perhaps 2,600 years. In the late 18th and early 19th cent., banks began to issue notes redeemable in gold or silver, which became the principal money of industrial economies. Temporarily during World War I and permanently from the 1930s, most nations abandoned the gold standard. To most individuals today, money consists of coins, notes, and bank deposits. In terms of the economy, however, the total money supply is several times as large as the sum total of individual money holdings so defined, since most of the deposits placed in banks are loaned out, thus multiplying the money supply several times over. See also soft money.
soft money
Historically, paper money as contrasted with coins, or hard money. Unregulated political donations. Soft-money advocates of the 19th and early 20th cent. were those who favored governmental deficit spending to stimulate consumption and employment. Fiscal conservatives (who put their trust in hard money) held the view that government should not spend beyond its resources. In late-20th-cent. political spending, strict regulations governed the source, amount, and use of donations to particular candidates (hard money), whereas contributions for the general promotion of a political party's message was relatively unregulated (soft money).
political contributions made in such a way as to avoid the United States regulations for federal election campaigns (as by contributions to a political action committee)
Gold..."Its not money........it is just a really heavy, shiny, yellow metal stuff that everyone wants, and are willing to trade anything for..."
Not to mention the California and Alaska gold rush....changed the history of the nation...
They may be forgiven as they probably just read the secret weekly memo to the media from the central planners reiterating that "gold must be talked down".
Kids make paper airplanes that can fly for a few seconds (like airline stocks). No one in their right mind would attempt an all gold airplane. Probably a lesson in those observations somewhere.
in b4 the algos sell all the worlds gold on this headline
Why do you guys comment if you have ZeroValue to add? ZH....
Good question. Why don't you give us the answer?
lol...you new here?
He's been trading since 05 and wants to start a hedge fund.
well...that about sums it up then.
Except for his avatar, I'm still trying to read it.
That always sux when you realize your logo won't work in different form factors.
It's a Hedge against >Zero value comments.
One savant's junk is another woman's treasure.
You know you are stuck in your own conundrum and can't get out, right?
I hate sticky conumdrums.
Especially when they get stuck to your shoes.
You didn't touch that...
someone else did it for you.....
The first order of business is to protect your voice, and while you have it, exercise it vigorously.
You do know that Judge Wapner is on right?
Maple syrup on the table!!!
Beneath a Belgian waffle.
Nice touch. I presume your first name is IDIOT.
savant...is that as in "idiot"?
My words carry no value. So from here on out I will be known as.....Fiat Words!
This story brings to mind an airline in recent times that was refused credit for refuelling and was forced to get passengers to go to the airport terminal to make cash withdrawls so as to pay for the petrol rather than be stranded.
The next time round, they won't be accepting fiat currency.
gol(d) is flying...lmao
I was told by an old pole to hold gold. At least i think that's what he said, my polish aint that great.
You misunderstood. He said store it in something that floats.
It would be insane to trade fiat notes for airline stock. It's twice as insane to trade gold for airline debt.
lol ya, saw that headline earlier... damn clickbaiting!!!!!!
Serious ass kissing propaganda going on here (on the subject of airlines)...
~~~
http://www.youtube.com/watch?v=gEsr978Vz5Y
I mean... WTFF?... Who in their right mind goes out of their way to overtly applaud a bunch of fucking airplanes flying overhead?
margin hikes inc
Whatevs. Slow news day, Tyler?
Well, US mkts weren't even open.
It is if you missed the previous 20 articles today. "Slow" being the key word here of course.
Only a fag troll says "whatevs"
I saw that earlier and laughed. Knew it was wrong the way written. Zero Hedge misses nothing. You guys are amazing.
jomama is right... when PMs start spiking, it's a cue for the fricken Crimex to raise margin rates... bitchez!
The airlines just plain blow. I avoid them like the plague.
The article title is bot bait.... imply that gold is being sold. Wall street algos are so easily confused.
What the hell....
It's a slow night here...
I almost pissed myself laughing at this latest version of the "Untergang"....
http://rabett.blogspot.com/2012/08/monckton-will-help.html
http://www.youtube.com/watch?feature=player_embedded&v=ARJK0MWAITM
Note: TOBS = Time of Observation Bias, DMI = Danish Meterological Institute....
Genesis II: And the gold of that land is good...
Could it have read, "And the Federal Reserve notes of that land are good?"
That would have been blasphemy.
But what did the banksters do? They replaced God's good gold with Federal Reserve notes.
Who do you think is going to win the revolution?
God.
Nobody can smite like the big guy.
Imagination.
Nobody can fool you like yourself.
...brilliant merzixobeach, you can't escape the fact that you just called yourself a fool. LMAO. You were never such a child, but telling you so is pointless now. LMAO. Grow up. Lol.
Please enlighten us with more of your brainwashed stupid religious babble, would you please?
Try looking beyond the images and maybe you will agree with the point of order. Just because I'm an asshole does not mean we disagree. Lol.
Gold is certainly a correction, it is not without a penalty. Those without gold will pay the price, no doubt. That is all I was offering. The poor will give you what gold required to sustain you when you are hungry and in need. Gold is like a 501c3 government whore now, it assures the poor and the homeless have need based on the corrupt want of the market whore riding this wave of mutilation. That is the want of the golden market beast ...bitchez. Lol. All your dusty ass is doing is based on the strong delusion of brainwashed Fed fools that set the price on the table. Enjoy the encephalitis, if you will, you make a fine Bride for POTUS. Save yourself, lol, don't mind the kiddies calling for your judgment. Lol.
P.S. They may as well cast the Temple Mount in Jerusalem with Gold, be it Allah Mode or Chairsatan's Fed worshipping bastards, it will not ''change'' the selfish/homophalic nature of the Beast(s). The screwball Idol worship is a clear and present danger for all, and it's antichrist, or for you not so brainwashed idiots, lol, it's contempt for life and this means war because, it does not matter what you think, it matters to them. That's called the power of corruption buddy and the price is to be paid in flesh. The poor know it first, their belly has been aborted for the sake of the market whore that dares to drink from the bitter Golden BTFD Cup of Fornication filled with the wine of wrath.
q99x2, it ain't gonna be gold my friend, not this time.
http://www.biblestudytools.com/ezekiel/7-19-compare.html
The image of the beast is a golden calf, built by corrupt morons that knew better. If you drink from this cup you have accepted the mark of the beast and called for your own judment to fall upon you as it were a laborer in todays market.
They made their own claim (tax) of dominion when they rejected (sound money/just weights and measures) the risen Mercy of the Laborers of the Harvest, bringing forth the offer of (sound money, freedom, liberty, independence and justice for all) the Word of God in Christ, the body and blood of The Lamb, and now claim to hold the judgment of the mark of the beast (blood of the lamb) in Egypt, even as they stand (among) in their own (the) nation(s), as they cry for peace, peace sealed by slaughtering the image of God in Christ among the hosts of man.
How is it that people would be given (the sound call of history) the blood of (thier defender) the lamb (the principle of the rate of return required to sustain life) as a sign of security and yet still accept an escape offer (false peace) from (the nations) contempt defining the physical slaughter of (ourselves) the beast in the field (call to offer the blood of the lamb on their door) and then reject the blood of Christ as the fulfillment of their escape from (judgment) this fallen world of pain and death? Do they think the Word of God in Christ is the image of a beast and they are scapegoats not being slaughtered in the wilderness or just dying within the walls built by the contempt for Mercy? Lol. Shall their Messaih(s) have hoofs?...or is the Son of Man risen in the image of God and does have a foot to touch the Earth in Jerusalem? Lol. It does not even make sense to defend the mark of the beast with their life at this point. Lol. Fools! Hell bound fools!
What offer do these brothers of old bring but destruction and death?
What are they looking for? a place to build their Temple in contempt of Mercy? lol, so they can offer the mark of the beast on the door, or the their own life and their brothers so as to escape the Hell on Earth, even in Jerusalem, as a result? Lol, their darkness defines the golden cup of fornication and the robbery of the Temple. Their call is equal from outside the wall and from within. They call for the (flesh of man) stolen vessels in Babylon now. Lol, and they wait for Elijah as Cyrus risen with an army inside and from the outside of the walls they built with blood. Lol.
The spiritual reality of an act escapes the logic and meaning of a people so blind they would be ''Fed'' in the desert and given illiquidity after walking out of bondage, and also not see an offer to escape (again) because they lust for the blood of the Son of Man like Suicide Vampire Squids.
What people are these that accept and now worship this new world order image and drink from this golden cup? Lol. Do they not define the nations and tongues upon this genration? lol, and the call for the Great Tribulation?
...they certainly do.
Do something worthy: http://www.worldvision.org
Interesting numbers. http://www.worldvision.org/content.nsf/about/ar-financials?Open&lpos=lft_txt_2011-Annual-Review
Help me out here. If 19% Government Grants were not accepted would that mean more money would go to the kids? ...um hello Stychokiller, that question is for you too. I'm really interested to know. I need help quantifying, I'm a bit shallow. Who knows, lol, the answer may help a kid or two, or it could be just holding up the dead baby huh?
...well the kids have been sold out like gold on a flight to the black hole. http://investmentwatchblog.com/40-signs-that-we-have-seriously-messed-up-the-next-generation-of-americans/#.UEVTP9aPUy5
http://www.youtube.com/watch?v=zLCRAalHhPc
again I ask/wonder where are the entrepreneurs to open gold based banking? Where gold bugs can on occasion exchange some of their gold savings in for dirty fiat cash loans in order to conduct quick deals/flips and then scramble back out of dirty fiat by paying the loan off and walking away with their clean safe gold collateral less fees and interest. I would think there would be a market some where between 0 and the 60% that pawn brokers charge. I noticed The Provident Loan Society of NY started in 1895 by the House of Morgan and a few other Banksters of their day still operates today lending at a 26% apr (2.16 % a month) against gold collateral which is better then 60% pawn shops charged.. but still I would think among entrepreneurs that believe in gold as an asset could be out there making loans with lower rates than that even.
EDIT: So just for curiosity's sake I called The Provident this morning for the amount they will lend against a one ounce gold coin and the magic answer is $700 against a $1700 pure gold coin or roughly 41% against the collateral value at a 26% apr.. so yea temporary borrowing against your stash is still impossible and thus the reason you will never see gold as an alternative to fiat unless or until the average Joe can park his savings in gold and be assured he can switch into filthy fiat as needed to conduct business after which being able to then switch back out into pure clean gold just as quick. I'm surprised there is no market for this other than pawn shops and crooks... or maybe I'm thinking too hard down the wrong path lol
A subliminal message to surpress the price of gold?
Wouldn't be the first time the media has sent a not so suttle message.
The image below was posted on CNBC for the "weekend viewers" then corrected by the following Monday mornings
Correct to:
More here:
http://macrowealthpreservation.blogspot.com/search?q=cnbc
Gold, that Barbric metal is for sure on ALL their minds despite them not admitting it.
Probably running through their Jungian subconscious causing them to have Nightmares.......b/c deep down they know...
"Gold is money."
Gol --> Gold
Spell checking gone wrong?
Hayashi & Kassai...Both the writers are Brazilian-Japanese. Please forgive them for their spelling mistakes.
Has Bernanke ever said FRNs are money?
Probably not, because they aren't money.
We have no money anymore. We have currency.
But what is currency? Some imaginary "unit of exchange" that can be represented by numbers on a leger sheet or digits in a computer?
In 1900 your "bank balance" was numbers on a leger sheet. But you could withdraw that many dollars of gold and silver coins, or you could withdraw gold and silver certificates exchangeable for gold and silver.
Back then "dollar" was a unit of measurement. So much gold, so much silver. A dollar wasn't money. A dollar was a unit of measurement, like saying a cup of flour.
Today if you say "give me a cup", the response would be "of what?" A cup of what?
But we say I have X dollars in my wallet, and no one asks "dollars of what?"
The unit of measurement has become an entity in itself.
A FRN says "one dollar". But what does that mean?
It doesn't mean anything. It has no meaning at all. It's not defined anywhere.
How did we go from gold and silver certificates exchangeable for actual gold and silver, to federal reserve notes saying "one dollar", which doesn't mean anything?
It really is like the currency used in the game "Monopoly". It costs XXX of those units of currency to buy a property, a house, a hotel, etc, you get 200 of those units of currency when you pass go, etc.
We made the transition from redeemable certificates to nonredeemable nothings out of habit.
People got used to saying "dollar", forgetting what "dollar" is. When the Fed introduced FRNs also saying "dollar" nobody thought anything about it. They were used to seeing "dollar". The new FRNs still say "dollar".
Keeping "dollar" was the trick. It fooled an entire nation of people into accepting a currency that was worthless.
For a while people paid for groceries with silver certificates, got back worthless FRNs in change, and never thought anything about it. Both were green, they looked very similar, both said "dollar". Everybody accepted the new FRNs and went on about their business.
It's probably the most successful banker scam in human history. Moving the most powerful nation on earth from certificates redeemable for actual gold and silver to worthless FRN monopoly-like currency, gradually, quietly, without anyone raising a fuss.
Someone raised a fuss ... the French (as usual*)!
The London Gold Pool (of 1961, instigated by JFK's Treasury Secretary, comprising the Central Banks of the U.S., Britain, West Germany, France, Switzerland, Italy, Belgium, the Netherlands, and Luxembourg) came unstuck when the French, under Charles de Gaulle, reneged and began to send the Dollars earned by exporting to the U.S. back and demanding Gold rather than Treasury debt paper in return. France was legally entitled to do this. The drain on U.S. Gold became acute, and the London Gold Pool folded in April 1968. But the demand for U.S. Gold did not abate.
By the end of the 1960s, the U.S. faced the stark choice of eliminating their trade deficits or revaluing the Dollar downwards against Gold to reflect the actual situation. President Nixon decided to do neither. Instead, he repudiated the international obligation of the U.S. to redeem its Dollar in Gold just as President Roosevelt had repudiated the domestic obligation in 1933.
On August 15, 1971, Nixon closed the "Gold Window". The last link between Gold and the Dollar was gone. The result was inevitable: By the end of 1974, Gold had soared from $35 to $195 an ounce ... an 82% devaluation of the "Dollar"!
---------------------------------
* Nearly every time there has been a stepwise tectonic shift towards the Khazarian New World Order, the Jesuits have used the French to instigate it.
i-dog, excellent remarks
you are replying to cranky, and he talks for the Hard Money Camp.
Nixon's administration, with the decision to leave the US consumption and government spending high while keeping the imports high, too, took the road of the Soft Money Camp. Either that or the eventual depletion of the gold hoard. The easy way - there was a war going on, remember? Gone the old days where a Hard Money Camp Government raised taxes in order to pay for wars, up to 92% of marginal tax rate for the richest.
Now the French championed the middle way, the Harder or Medium-Hard Money Camp. And the EUR is the child of this Camp, as the freegolders will patiently explain to you.
Now, your "Khazarians" (note I do not deny they exist in various forms, I challenge only their pervasiveness and coherence in the systems), do they belong to one of those camps? Or do they exploit the systems and their conflicts as they see fit? Or do they have a grand plan?
Because the DollarZone is still set on "Super-Soft" since 1971, and this softness finances a very active military that is all over the globe, and a country that is still importing more than exporting, with a population that still over-consumes way more than what it saves and enjoys lower taxes than what it's government spending would imply.
And the DollarZone Nexus could still win, and rule the world under one currency, carrying the words "Novus Ordo Secolorum" on it's paper.
I don't expect either the Dollar or the Euro to be the "one world currency", aka "solution" (they both have geographic connotations that could foster later resistance). They'll have a new name for the new paradigm (which will be electronic credits tied to gold, or a redefined, resource-based, SDR). Residual local currencies (if any) in the developing world will be pegged to the global currency that will be fully electronic across the developed world.
'Agenda 21' says to me that they'll be focussed on controlling who does what, where and when ... and entirely based on central planning of worldwide resources. A global Politburo.
The 'Novus Ordo Seclorum' is an ideology and the US has simply been the forward operating base since 1773. It took a further 140 years to finally obtain a Central Bank with a 100-year charter - after 3 false starts due to insufficient political capital having yet been acquired in the US at those earlier attempts.
Soon, the massive military machine - that is now firmly under the control of the Khazarians - will be turned on all the peoples of the globe to police the provisions of Agenda 21.
A statist's dream, eh!?!
not my dream, definitely not mine. but it's one of China's goals, apparently
LOL ... another misdirection? ... defending the "faith" to the last....
"soft money" is not just another way to do a monetary system.
"soft money" is a way to steal wealth from everyone using it.
"soft money" is a currency that can be "printed" without limit. This "printing" dilutes the perceived value of said currency, just like issuing 100% more shares of stock of a company dilutes the value of each share 50%.
It's the perfect way to steal wealth from a whole nation of people, quietly, secretly, without anyone realizing what's happening, and give that wealth to whomever you wish.
Simply "print" more of the currency and give it to favored friends, like issuing more shares of stock and giving them to corporate executives, favored employees, etc.
It works perfectly well until the currency loses so much perceived value it becomes worthless, like what happened in Zimbabwe, Argentina, and Weimar Germany.
In 1913 when the Fed was created a 20 dollar gold certificate had lost no value. It could still be redeemed for 1 ounce of gold.
Today a 20 dollar federal reserve note is worth 1% of that 20 dollar gold certificate.
Yes, FRNs are worth approximately 1% of the same denomination of gold certificates.
4 years ago FRNs were worth approximately 2% of the same denomination of gold certificates, but they lost 50% of their perceived value in the last 4 years, down to 1%.
And it's only perceived value, not real value. And that perceived value is only because people have gotten used to using them over several decades.
Gold and silver certificates never had to worry about currency collapse.
But the FRNs we use now are in great danger of currency collapse from the enormous amount of "printing" since the '08 financial crisis.
Upwards of $30 trillion "printed" by some estimates, most of it "off balance sheet", the public unaware of it.
If you own shares of stock of a company and the management decides to issue 100% more shares, diluting the value of your shares 50%, you would probably make a big fuss about it, maybe sue the company. They stole half the value of your shares.
The very same thing has happened to FRNs in your paycheck, wallet, bank account, money market account, etc, since 2008, and everyone just accepts it.
I'm not advocating going back to a gold standard to stop the endless "printing" of US currency. It would never happen so there's no point advocating it.
It can be done by policy. Fed decides the money supply cannot grow beyond GDP growth.
That's all it would take. Just a policy decision.
But it would stop the Fed from "printing" trillions of FRNs to buy treasury bonds, bail out banks, do Euro currency swaps, etc.
They would be maintaining the value of the "US dollar", their so-called "mandate". But the federal government would collapse, Wall Street banks would collapse, EU banks would collapse, and the Euro would collapse.
It wouldn't affect the American economy one bit, because none of those trillions of FRNs "printed" since 2008 went into the economy except the trickle down effect from increased government spending.
I fully agree with you. It's a policy decision. Does monetary expansion follow cautiously GDP growth or does it lead it boldly by "targeting"?
Monetary expansion doesn't help the economy one bit. We've seen it 4 years now.
All it does is help the government and banks, while stealing wealth from the population at large, which hurts the economy.
So cautious GDP following would be the wiser route. Assuming they really do want to maintain the value of the currency.
Trouble is, they don't. They don't care about the currency. They don't care how much wealth they're stealing from the population at large.
And no, they don't care about the economy one bit. That's obvious.
"A FRN says "one dollar". But what does that mean?" Why it means a dollar overflowing with the full faith and and credit of the United States Gub'ment bwahahahaha.