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The IMF Proudly Presents.... "Threat To The International Monetary System" Part Three
It's that time again when the IMF has just telegraphed something very big and very bad is about to happen. But let's back up, and paraphrase our post from March: "Back in April 2010, before Waddell and Reed sold a few shares of ES, effectively destroying the market on news that Europe was insolvent, we made the following observation: "The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 billion (SDR333.5 billion), to $550 billion." Little did we know that our conclusion "something big must be coming" would prove spot on just a month later after Greece, then Ireland, then Portgual, and soon Spain, Italy, Belgium, and pretty much all other European countries would topple like dominoes tethered together by a flawed monetary regime. Well, based on news from Dow Jones we can now safely predict the following: "something bigger must be coming." The specific reason for this prediction was the following: "the International Monetary Fund is expected to soon activate a special funding pool that will boost the fund's ability to prevent or resolve economic crises." Sure enough something bigger came, and then some: Greece received its second bailout package about 4 months later, only to see the entire Eurozone hang by a thread following the political fallout that has since ensued. Well, it is time to shift from the comparative to the superlative: "something biggest must be coming."
According to Dow Jones the "International Monetary Fund will likely re-activate a $580 billion resource pool in coming weeks to ensure it has funds to help cover Europe's worsening sovereign-debt crisis, according to several people close to the matter." Why is this a big flashing red light? "According to the IMF, the pool of supplementary resources are only to be activated when "needed to forestall or cope with a threat to the international monetary system." So it is settled: just like on the previous two occasions, the biggest load of feces yet is about to hit the fan. The only real question is: how many trillions will the real global backstopper, China, be forced to match this massive expansion of the former world rescuer with... Also, what comes after "biggest"?
From Dow Jones:
The IMF activated the so-called New Arrangements to Borrow in April of this year for a six-month period. The IMF's board, which met informally on the issue late Friday afternoon, would have to approve re-activation of the resource pool if the fund wants to tap it beyond September.
"A large majority of the board members are in favor of re-activating the NAB," as a precautionary measure, one of the people said. The board is scheduled to formally approve activation next Friday, the person said.
David Lipton, first deputy managing director at the IMF, said recently in a private meeting that keeping the NAB available may be necessary in coming months given Europe's debt meltdown, people familiar with the matter said. The crisis is entering a dangerous new phase as the risk of Greece defaulting rises and Italy and Spain's sovereign debt has come under attack.
Lipton didn't specify whether the facility needed to be tapped for a specific country, the people said. The IMF declined to comment.
According to the IMF, the pool of supplementary resources are only to be activated when "needed to forestall or cope with a threat to the international monetary system." The pool can only be activated by the board after IMF managing director makes a special request.
And while America is guaranteed to foot the bill once again (with China below the US in terms of priority payments despite its much higher cost basis and implicit investment into Europe), it will do so only on a provisional basis - none of the biggest IMF contributors have enacted the formal quota increase. Which means that the US will be stuck in legal limbo when Europe pulls a Greece, collects American cash, and then finds it has no collateral to pay back with.
So far, the IMF has already allocated nearly $7 billion from the NAB. In total, the NAB can provide up to about $580 billion in supplemental resources to the IMF, but only around $331 billion is currently available for use. Based on how much cash the fund can commit to within the next year--around $394 billion--without the special kitty, the IMF would only have around $60 billion on hand.
The special resource base, funded through bilateral loans from countries such as the U.S. and China, was designed as a temporary measure. It is expected to be largely replaced by an agreement late last year by the fund's board of directors to increase quotas, the share of contributions that each member must give to fund IMF lending.
The board of governors agreed in December to roughly double quotas from around $375 billion to around $750 billion. But out of the 187 member countries, only 17 have legally accepted the increase, including Japan, the U.K. and Korea. Most of the countries with the biggest quotas, such as the U.S., China and Germany, haven't yet gone through the legal process, such as parliamentary or congressional approval, need to hand over their promised dues.
There is little we can add here that was not said during one of the two prior massive IMF intervention attepts, both of which predicted a huge global shake up within months.
Which is why we will end this post with the same words we ended the previous iteration in the IMF global rescue series:
"US taxpayers: our condolences."
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Bigdiculous.
As usual they got nothing but a bluff which markets will call as soon as Monday morning :))) printing will prove futile once again but that is ok with the IMF since that's what they want debt enslavement and massively please! Exchange of fiat for hard assets and POWER! except this time it won't work anymore the sheeple are waking up still a bit slow but they are coming! Rallies if any will be sold PMs will skyrocket and so forth all events the PTB do not like, at all! So bring it IMF I'll call your shit bluff any time, euro is going down soon to be follows by uncle Bucky and then well then we go huntinggggg!!!!!!
"As usual they got nothing but a bluff..."
Its what it looks like from my angle.
What are they gonna do...issue debt all the way to the bottom when debt is the reason for the descent?
Perfect...we're all in good hands...lol.
+ 1
That likely IS what they are goin to do, issue debt all the way down.
Everyone should put their future into their own hands: physical gold!
or mine!
Connect the dots proles
http://data.worldbank.org/
IBRD is a giant washing machine. Loan issued, then repaid or cancelled. Its amazing how quickly a bulky load can get cleaned so quickly.
https://finances.worldbank.org/page/datasets
Example: Notice the date of issuance vs. loan status
https://finances.worldbank.org/Loan-and-Credit-Administration/IBRD-Statement-of-Loans-Latest-Available-Snapshot/sfv5-tf7p
The seller of lightning rods arrived just ahead of the storm. He came along the street of Green Town, Illinois, in the late cloudy October day, sneaking glances over his shoulder. Somewhere not so far back, vast lightnings stomped the earth. Somewhere, a storm like a great beast with terrible teeth could not be denied.
Looks like this is the signal that Greece is about to default. Its about time.
http://www.youtube.com/user/POpatriot?feature=mhee
Most excellent rant there grasshopper.
LOL. Great video.
+++ The grift-n-graft is overt and mainstream. Beyond disgusting.
Well done, Pissed Off Patriot! Well done, indeed. Keep up the good work.
S'Ok... the IMF's SDR carries no counterparty liability. So sez the IMF.
I'll take the other side of that cuz everyones broke...lol.
Shhhhhhhhhhh. We must pretent to keep the myth in place.
Creation of SDR and its role in solving liquidity problem
http://www.scribd.com/doc/4433641/SDR-by-IMF
http://www.imf.org/external/np/exr/facts/sdr.htm
Dreaming of SDRs
Some may of missed my earlier posting regarding Red Book/BIS/Cashless
Have a great weekend Tyler and ZH posters
Atomizer, it fits in with Jean-Claude Trichet’s proposed financial coup d’état over Europe that he outlined this summer while accepting the “Charlemagne” prize at Aachen, Germany - one based on financial asset stripping. Said Bernanke’s twin at the ECB: “In this Union of tomorrow, or of the day after tomorrow, would it be too bold, in the economic field, with a single market, a single currency and a single central bank, to envisage a ministry of finance of the Union?”
According to G. Edward Griffin:”The goal of the organizations (the IMF/World Bank) was to create a world currency, a world central bank, and a mechanism to control the economies of all the nations. In order for these things to happen the United States would of necessity have to surrender its dominant position. In fact, it would have to be reduced to just one part of the collective whole… Furthermore, the World Bank was seen as a vehicle for moving capital from the United States and other industrialized nations to the underdeveloped nations, the very ones over which Marxists have always had the greatest control…”
As Griffin wrote in 1994 in The Creature from Jekyll Island: “They looked forward to the day when we would pay their bills.
“It has come to pass.”
+1
I recall Zbigniew Brzezinski lamenting "People are politically awake now."
That was last year. He seemed to be in despair ;-)
gold parabolic, bitchez
i just wish this whole collapse would start, so we could get through it, end it, and rebuild the world again.
unfortunately, almost alway when a fiat currency collapses, you get one of three endings.
1. authoritarian goverment
2. military dictatorship
or
3.civil war
I'm thinkin this time we get 1, 2, and 3.
don't forget free love!
http://www.youtube.com/watch?feature=player_detailpage&v=OURKsArvxBQ
and goofy pics of your kids apparently...
trust me, you dont want 3,
NORTHCOM is up and running (north american combat command) and has the 1st brigade 3rd infantry division under it control (i am not making this up) to asist in civil unrest in the USA.
go look this unit up, they got bradleys, M1abrams, apache helecopters, and field artillery. plus SPECIAL TROOPS.
dont try 3, please,
have you ever seen MRLS, OH MY GOD, YOU DONT WANT TO BE UNDER THAT.
Xinf.Capt I trust what you are saying. I'm not askin for any of this, doesn't mean it isn't coming.
may GOD have mercy on us when it does....
The Matrix is a system, Neo. That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.
in which order?
in which order?
...and in reverse order.
Alex, I'll take Chaos for one thousand dollars.
"i just wish this whole collapse would start. . ."
It's already started. Where have you been?
An authoritarian government/military dictatorship is the current form of government in the U.S. The U.S. military is larger than all the rest of the world's military combined and acts as the Giant Vampire Squid on the American economy.
This became a fact of life for Americans in 1917 and for nearly a century it has been consolidating and sucking more lifeblood from the American people and since 1941, the rest of the world.
Flo, the Progressive lady, should replace Christine Lagarde as IMF Director. Flo says, "We make it easy to compare rates and save."
ha! good one!!
The talking duck from Aflack insurance company, gets my endorsement.
"By the pricking of my thumbs, something massive this way comes."
Sorry for the poetic license, Will.
biggest-est
bigtarded
153XXX
http://www.youtube.com/watch?v=1jv-uMjlRtM
WOOOOOOOOOOOwwwwwwwww!!! you got me there Al.
That interview is .... different. She looks plain stupid to me, but others may disagree. Whatever floats your boat, I guess.
??????????
Damn, doesn't support greek letters.
uh, uh, biggeriffic?
Tried character map - no joy.
Since we have a fiat vocabulary, I propose "biggester", "biggestest", "biggestester", and so on for labeling the following crisiseseses.
how about,
BOHICA!
its military slang, like FUBAR or SNAFU
BOHICA
Bend
Over
Here
It
Comes
Again!
+ 1
BOHICA Bitchez!
Enterprise T-Shirt:
- Ned
{main shafts on turning gear even in port, so shaft won't warp}
Most bigalacious.
Who can deny that this is the nomenclature of world government? There’s been a steady drumbeat of merged national institutions into international institutions, and the accompanying propaganda is now bringing the final phase into perspective: Coming up with the money to run a central control for the planet.
Sadly, this propaganda has induced many Americans to buy the lie that this country never belonged to them, it belongs to the world.
It reminds me of a song youngsters were taught in the Forties, coinciding with the growing influence of the United Nations, finally headquartered with a Rockefeller grant in 1947 in Manhattan.
It is now apparent that song - This is My Song - was a trick leading little minds toward world government :
This is my song, Oh God of all the nations,
A song of peace for lands afar and mine.
This is my home, the country where my heart is;
Here are my hopes, my dreams, my sacred shrine.
But other hearts in other lands are beating,
With hopes and dreams as true and high as mine…
IOW, there’s nothing special about America; we’re all just a cog in the world wheel... That song, in short, was written by an enemy of this country, of freedom, and my mother was taught to sing it when she was a child.
JR, I see what you are saying.' These are times that try men's souls,' but what is coming?
Everybody at the bankers’ party is drinking, getting drunker and drunker, and the Fed “doves” are bringing in a new punch bowl – but instead of half juice and half vodka, it’s now all vodka.
In short, the economy is unraveling; we’re going into a whirlpool of worldwide, not only recession, but depression.
The Fed has a growing opposition to QE3, to investment banker and IMF bailouts; it’s getting hit with massive criticism because it can now be demonstrated that the Fed is the root of the world’s problems. Where does the world, the Obamas, the Congress, the Goldmans and Morgans get the money? They get it from Bernanke who gets it from the American people.
But the American people, at last, are Fed Up. Political change is coming… Soon! The sleeping giant has awakened…
JR and TB: good posts.
Further state intervention, e.g.:
http://www.suntimes.com/7558652-417/teachers-union-president-says-mayor-...
“I called out what he was doing had nothing to do with education,’’ Lewis said. She said she told him, “So this is not about education. This is about safety. ... This is babysitting and warehousing.”
and violent "Labor Actions." e.g.
http://www.msnbc.msn.com/id/44439782/ns/us_news-crime_and_courts/
(I'm surprised that msnbc is "reporting" this)
Basically, watch the projection--they'll be doing what they accuse the 'others' of doing.
- Ned
Sort of an "Imagine" for the Illuminati.
END THE EUROT0PIA EXPERIMENT NOW!
John Exter’s inverted pyramid of assets. The idea is that things high on the pyramid are derivatives of asset classes further down the pyramid.
We should move Government Bonds to a less secure classification closer to credit default swaps.
http://lonerangersilver.wordpress.com/?s=John+Exter%E2%80%99s+Inverted+P...
+1Jovil
Great, now I got that Prince song stuck in my head.
Gonna Panic Like It's 1929
Dearly beloved,we are gathered here today to get through this thing called life.
Some time ago I was asking, why can't this go on until all of the savings of the non-insolvent world are transfered over to the still insolvent world either through bailouts or currency debasement. Thinking more on the subject, I guess a better way to express the limit is with respect to the amount of capital needed just to keep the lights on while a dwindling productive class struggles to continue: Once the stock seed is gone, we are done.
Obviously, the day draws nearer, but I wonder if it won't be a while yet? Seems like the G7 and IMF have determined that "the money is there" to keep this thing plowing onward, for now.
Absent intervention, you'd think that gold is going to raise a giant middle finger at all of these pricks come Monday morning. The all out war to keep gold out of people's conscience will be as stunning to gold holders as the eventual prices I think.
I agree TollBells, but I would add, if I may, gold is the war front tbtb feel they must win. They will lose this battle and their paper will be worthless. But they will not give up. Only the next stage of the game will ensue. They will not give up until every last one of us is enslaved and they are the masters. End game.
It's all about saving the banksters.
The whole world revolves about the TBTF banks ... they are the center of the financial universe.
The banksters control politicians and much much more.
Question is .... exactly who are the ultimate owners of the TBTF banks. No doubt they are hidden behind a labrinth of holding companies, trusts, offshore corporations, etc. But in the end, there's people.
Who are the people buying the politicians that sacifice 99% of the population to save a tiny minority.
more like "American Admiral/General movement preventer scheme." So far it appears to be failing quite spectacularly actually. Go long the Fez and you'll be just fine.
http://www.youtube.com/watch?feature=player_detailpage&v=q71gvV9n9Cs
The Independent Treasury Act of 1920 suspended the de jure Treasury Department of the United States government. Our Congress turned the treasury department over to a private corporation--the Federal Reserve and their agents. The bulk of the ownership of the Federal Reserve System is held by these banking interests, and NONE is held by the United States Treasury:
Rothschild Bank of London
Rothschild Bank of Berlin
Warburg Bank of Hamburg
Warburg Bank of Amsterdam
Lazard Brothers of Paris
Israel Moses Seif Banks of Italy
Chase Manhattan Bank of New York
Goldman, Sachs of New York
Lehman Brothers of New York
Kuhn Loeb Bank of New York
http://www.barefootsworld.net/usfraud.html
All very well saying this, and of course it is/was true, but-
what are these guys doing with the enormous wealth they have sequestered. They haven't dug a hole and piled in the gold.
It all HAS to have been re-invested ('cos thats what they do) So they are going to lose it.
I don't see them owning every corporation, piece of land, bottle of water, real estate at this point, no matter how much they want to enslave us.
I believe in most of the conspiracy theories, but I also believe that the bad guys are idiots, clumsy, and greedy. So they don't make infallable plans, and will not ever win.
I am 100% sure that the richest of those listed above are paupers compared to the Russian thieves.
And if I ever change my mind, I will bring them down myself.
Lets stick to the real enemy -the Squid, the Morgue, Congress & the Senate, EC Overlords and the Corporations.
why can't they 'own' everything. most land is owned by .gov(s).....they area all in debt...to the banks.
most corporations are in debt to...the banks.
most private land/property/houses are owned by....you guessed it, the banks.
so technically speaking, the banks do 'own' everything. you just have to see the big picture and what is going on....complete serfdom for everyone in the near future.
How do you know that? Here's a scenario for you. Imagine you are one or all of those banking families and you actually have a clue where this is going (do you doubt that they don't?).
They manage a long term gold low through inflating assets through inflating the money supply (1980-2000). During this time they are accumulating gold.
The low in 2001 (browns bottom) they are acquiring massive tonnage essentially free because the own the presses.
Run the system off the cliff through war on terror (which they start with 911) and the resultant housing bubble from ultra cheap money (which they also arranged).
The system fails with most if not every country bankrupt as well as the citizens.
Institgate a demand for a return to using gold in some relationship with int'l settlements in order to return honesty to trade.
The world finds out that these 9 banking families POSSESS 140,000 tonnes out of the 165,000 ever mined as they used derivatives to settle for physical while they accumulated. Wow, what a fucking shock!
Game over, no way to go back to any fiat system based on trust and no way to go forward with a gold based or related system without these 9 banking families actually owning 9/10's of the worlds assets. Any questions?
Right on, chub.
shit... we in a heap o' trouble now. thanks for spelling it out; haven't seen it that concise
profromdover--
I respectfully suggest that you go to the link I provided for a more in-depth look at the central banks' degree of larcenous involvement in our current predicament. It is certainly not the only place to find that information, but it does sum it up rather nicely.
BTW-are you a golf pro?
The sheeple will be sheared...the wool will be taken away & the meat left for vultures.
I see the chaos meter hitting the max end. War is at our doorsteps.
NAB that cash bitchez!
I don't get this.
How can as good as bankrupt countries lend more money when it hasn't got any and would be one of the countries borrowing/getting a handout from the fund?
It is called 'A magician's trick of creating the illusion of wealth out of thin air'.
Oh. No problem then. Surely $580 billion will cover it...
<stare>
The cenrtal bank engine runs on water.... I knew someone would figure it out.....
TPTB will never let go, no matter what, as so well described in King Arthur's adventures.
http://www.youtube.com/watch?v=zKhEw7nD9C4
once again, deficits don't matter if the printing press still works. print, baby, print.
war! what is it good for? bailing out the bankers. say it again!
no to war, yes to Fight Club's underlying principle.....there are people in this world that know all of the intricacies of the system....and they know how to destroy it thus 'resetting' everyone back to 0.
this is one of the main principles of fight club, a system reset. not a war, but and end to the unfair and unjust policies of TPTB....
apparently somebody lost.
Many disciplines use prefixes to quantify size. Kilo, mega, giga, etc. I came up with my own and typically use them before 'ton' to describe something of unusual size. They are:
Ass
Sh!t
And
F#ck
So an ass-ton is three orders of magnitude smaller than a sh!t-ton. In this case, maybe it's ass-big which is three oom bigger than big, and one oom bigger than biggest?
IMF tip. When you finally decide to war crime the fuck out of IRAN. Let me give you a tip. Don't worry so much about where the nukes are or are not at. Worry about where the gold is. Because that libya fuck up was pretty bad and made france cry like little bitches.
Ben Bernanke, he's the man. He saw things old guy Trichet didn't see.
Gold buggers -- they are a vile group. They wanted the Fed to raise interest rates in a fragile economy, and luckily Benanke didn't fall for the trap. We would be like Greece today...about to default.
So that's what Trichet did, he raised interest rates at least two times on the Euro this year. And now Greece is now a global systemic risk; certainly Europe is in big trouble now.
Gold bugs, they want it both ways. They poo poo the Fed and bid up gold when Bernanke kept rates low. Now they bid up gold again because Greece is about to go default (because the ECB raised interest rates). Basically, gold buggers don't care what happens to the world. They want it destroyed both ways to Sunday. Just so they make some money.
beanieville, You cast a wide net, one hand vengeful and the other hate. I would doubt that many who desire to protect their hard earned wealth see it that way. Many care a lot for their family, friends, and country and certainly want only the best for them and all. Too bad there is evil in this world and it seeks to destroy us.
Huh?? Gold would not be so compelling a proposition if not for the actions of Bernanke and Trichet. I am convinced by and large people do not speculate in gold - they buy and hold it as a store of wealth. Gold bugs are not the reason we are where we are - gold bugs are a natural consequence of deep underlying problems in whihc the TPTB are heavily vested and will not change. The answer to all of this is that the ECB and The Fed will print endlessly - they have no other tools and you have to decide what that means. Gold is an answer to that. So is silver. so are other commodities. Real things as opposed to conjured fiat. Seems pretty grade school to me.
and your point is?
Beanieville = Idiotic shill
IMF just added "Official IMF rescue music" to all that money as well. Just got it in my "electronic mailbox" today. Amazing what this new fangled technology stuff can do! Now have a listen:
http://www.youtube.com/watch?v=KnBJsVpUm70&feature=player_detailpage
Billions are so 2008. We need Trillions in bailouts. Seriously IMF, get in style.
This will be a trilogy:
Episode 1: A New Disaster (Billions In Bailouts)
Episode 2: The IMF Strikes Back (Trillions In Bailouts)
Episode 3: Return Of The Gold (Quadrillions In Bailouts)
Coming to a country near you...
This is a joke, right?
Please, please ... tell me this is a joke.
The only way we're getting out of this alive is to take over the revolution that is here and evolving before our ruling Kleptocracy gets their hands on it. And the way they're playing it, its going right into their hands. We'll be on the street in October, so keep an eye out for 'The New Revolution', coming to your neighborhood soon.
Meet the New Revolution, just like the Old Revolution. One would think, after all the revolutions thus far, that something would have changed. Same goes for wars.
Emotional reactions to material problems are not solutions. I understand the frustration, but hey, this simply doesn't work.
Creating micro-cultures, or sub-cultures is a better method. Drop out, man! Get together with friends and create an anti-Babylon enclave of your own.
If the Babylon system exerts its control down to the barter and subsistence level, then the final refuge is one's own conscience. I conscientiously refuse to play a game in which the rules are rigged and are changed constantly to give the opposing team the advantage.
Live by faith. Then, all the Babylonians can do is kill you.
The $580 billion isn't up the left sleeve. It isn't up the right sleeve. It isn't in the hat. Where will these bankster magicians find the money.
By printing it. It's the only thing they know. And they will cause the sovereigns to line up behind the plan and use their coercive powers (taxation, confiscation) to force compliance and collection of the "debts" of those very sovereigns to the banks they serve. It is the ultimate scam. Zero cost basis product (fiat) exchanged for real goods and wages via taxation.
here's how:
bernanke wakes up, scratches his ass, then calls for his servant to deliver his coffee and bagel for breakfast. while waiting on breakfast, bernanke farts in bed, then gets up (sporting his scooby-doo pajamas) and heads to the FED terminal at his desk. he sits down, types in 580,000,000,000.00 and hits enter. gets up from chair, heads to bathroom where he then takes his morning piss....
there it is now done. all in a days work.
Greece is contributing $2.5 billion
Yah, right
Germany working on "Plan B". Unusual G7 Friday statement. IMF plans activation of $580B resource pool. The big boys seem to be bracing for something big and bad.
more like "oops!" and "ouch!" followed by "YOU'RE GONNA PAY FOR THAT! YOU HAVEN'T HEARD LAST OF DR. McGILLICUDDY!
Let me let you in on a little secret.. Who gives a fuck? Im still here. When im dead, Im dead
Sure, but it's HOW you get dead that makes difference. Just sayin'
Gotta have an escort of 10 to get into Valhalla in style.
Dollars and Treasuries will surely rally on this news.
As I said before, the Fed is simply not printing fast enough.
We need to catch up to Japan, get our debt up past 200% of GDP, so we can enjoy 1% 10-yr. rates and a booming currency.
you are a fine terrorist indeed sir! http://www.youtube.com/watch?feature=player_detailpage&v=sYzSIKDpyfE
Tyler, extremely short sighted of you to use the term "biggest" Don't let it happen again!
Interpol has issued an arrest warrent for Gaddafi.
when will it issue arrest warrents on the banksters who have committed far more crimes on humanity than this libyan psychopath?
"There's just winners and losers and don't get caught on the wrong side of that line."
- "Atlantic City", The Boss.
b'normous
Just a dumb question ,maybe .If a scenario similar to the 2008 meltdown where to happen now is there a potential for gold to sink this time around . seing that JP Morgan called for $2500 gold by the end of the year makes me think they are probably shorting it .Made me nervous when i read that .I'm just a newbie holding physical gold .I'm 16 yrs old and i worked my ass off mowing lawns all summer and wanted to increase my gold stack instead of having all that cash sitting in the bank .Should i wait or should i buy now . I have $4300 waisting away with no interest .whats you thoughts ?
Fear not young Padewan goldbug, trying to time the gold market is a fools game. (unless you happen to be part of a corrupt multinational banking syndicate) Instead of trying to guess the market, use the dips as an opportunity to add to your stash. Any dip in price will be temporary. Don't fall prey to any fear based sell-off. Keep the faith, buy gold buy silver. You may think about diversifying into some silver, its immediate upside potential may be more promising as opposed to gold right now. Just a thought...
Seriously, if all you can save is $4300 then get out of the stock market, and forget about gold. If you don't have at least the 10x to put/throw away you are like the rest of us: simply waiting till the shit hits the fan.
You can probably increase your income faster by learning something that makes money, instead of mowing grass and buying gold.
I would suggest going on a world trip with the $4300 and have the experience of a lifetime. Life is for living buddy.
By weight, you would get a lot more silver than gold for your money. As for timing, your guess is as good as anyone elses.
The upside of gold- it retains its buying power regardless of its relative "price" in fiat terms. One ounce of gold will purchase the same amount of goods and services now as it did 200 years ago, and so probably the same as it will 200 years hence.
On that level gold is an excellent way to preserve wealth.
The downside is that gold has no investment value, in absolute terms (that is, in purchasing power). If it buys the same yesterday, today, and tomorrow, then it has zero return. You recognize this conundrum.
The best way, at your age, to leverage yourt 4,300 dollars is to buy some education. Invest in a skillset that will give a return many times your initial investment.
You need three types of skills.
Character/survival skills. These teach you to see beyond the veil, to live by faith and by ingenuity, and to have an emotional resiliency that allows you to keep your wits about you when everyone else is in full panic mode. Religious training and wilderness survival (ashram, monastery, and/or personal retirement from the world) are excellent learning venues for this type of skill.
Practical fall-back skills. Learn a skilled trade that teaches you how to manipulate matter with your hands. As long as humans will exist, there will be a demand for skilled artisans and tradespeople. if yout professional skills are no longer needed, you can always have a way to make a living.
Sedentary, professional skill. Trades skills all have one failing, they rely on your physical abilities. If you get old and tired (don't worry, it will never happen to you), or if your strength, vision, or coordination fail, then you have a fallback in the other direction.
Personally, I wouldn't waste my money on an American secondary (college) education. If you need letters behind you name, figure out the cheapest, debt-free way to get them, and learn every trick you can to get through the system as quickly and as painlessly as you can. College is about learning to play a game. Learn the game, play it ruthlessly, and get out. If you don't educate yourself, no-one else will do it for you. The alternative to thinking for yourself is brainwashing.
I can think of a certain 18 year old that I wish would ask such questions. You are allready far and above ahead of most kids your age. I suspect your going to do very well for yourself kiddo.
Miniplenty liquidity. Doubleplus fucked. Commence Unsovereign. Account rectified.
The interesting thing is: The US dollar can be printed on demand so it's difficult to say that this money comes from the tax payer - it might be in the end of course - but a country like The Netherlands cannot print euros...
Now look at the chart, The Netherlands is paying 13 billion (compared to 105 billion from the USA), which comes directly from the tax payer, and that for a country of only 16 million people...
Fiat money is paper and if it can be used for any investment or purchase it has to have a connection to value. That value in Europe is German prosperity and German taxpayers. In America that value is the savings of Americans, the potential income tax from the middle class and the sum of the existing wealth. Government has no value of its own.
Bernanke is running the country printing Federal Reserve notes to buy the Congress; Goldman Sachs (the NY Fed) is running the world by controlling credit and the supply of the paper.
Where do they get the money? They go where the value is; inconvertible paper money is worthless for garnering power unless it can be used to extract real value, i.e., the wealth of a nation's people and resources. This decade alone, the private bankers who own the Federal Reserve System have stolen the dollar value of America’s savings and pensions and life insurance, of her stock market investments via the crashes of 2000 and 2008, of her home equity via the housing bubble, of her consumer purchasing power through inflation and multi-trillion dollar investment banker bailouts, of her career opportunities by off-shoring her manufacturing base and financing hostile mergers and takeovers of America's corporations, of her hard-won and well-paying jobs by buying open border policy to replace U.S. workers with cheap Third World labor whose cost of living must be subsidized by American taxpayers, of America’s resources fighting multiple wars for the protection of global corporations to raid the world's resources…
When you link the facts together, they show that an insider dealing power exists under a single world authority in the US. Fact one: the New York Federal Reserve Bank is controlled by Goldman Sachs, the NYFed in turn controls the Federal Reserve System which also controls the IMF and dominates the world’s central banks. Fact two: no one is nominated for the US presidency without the approval of one specific bank – Goldman Sachs. Fact three: it is obvious that US presidents select only Goldman Sachs people or Sachs’ approved people for the Treasury and for critical Cabinet and monetary posts. Fact four: a reshaping of the markets by one controlling, insider entity is deadly to individual investors and a free enterprise market.
The US does not print money on demand. If debt free money were printed, I would agree with you. The FED prints the money, loans it to TBTF banks at zero interest, they in turn buy treasuries at interest which is public debt. The US cannot print money either, per se.
i am jacks leveraged insolvent system...
mo-bigger-er
This is just another small distraction from what is about to go down!!
can you say BANK HOLIDAY
Terror act is coming soon (in days) then follow that up by going to war using Nukes on Iran...Russia knows full well what is coming they are right now storing Jet fuel for the coming war...."Time to Hunker in the Bunker" This is just a sign of a Big MOFO coming to a city near YOU!
Two words to live by in the coming days: FOOD & AMMO.
The Russians have quit stalling, and the Bushehr reactor startup is set for Sept. 12, 2011.
If war was on TPTB's radar, don't you think copper would be through the roof?
Western leaders are just going to pull the covers over their head, and hope the monsters go away.
"I lost everything and I gained everything" currency trader
http://capital3x.com/?p=997
Well, well, well, who could have lost that bet? Crisis in time for the reunion, everyone on the edge of their seats, world requires superhero: the deft dips and turns have been interesting to watch.
But now, time to go -
http://www.youtube.com/watch?v=eQPiV_cauyI&feature=fvst
http://www.youtube.com/watch?v=norKGYkqKEU
http://www.youtube.com/watch?v=NOW4QiOD-oc
tipp.e kai yAI m'fuckers - or should that be shikata gai nai? Been a pleasure, don't forget the pepto-bismol.
It's never too late when central planners are involved (particularly inbred and superstitious ones)!
They've failed before -- many times -- and it looks like they're cocking it up again, now. We can hope ... even if we can't change [it].
SECEDE NOW!!
...and so it begins...
thanks for the 'Sheeped Away' btw, though wish there were a title card at the beginning "San Francisco 1967". waiting for the sequel when the sheep get pulled out of their alien wonderland by another larger alien craft. sure it will be coming soon for our viewing pleasure.
b4 u go, just a friendly reminder to be careful during the oyster hunt. don't forget that numerous traps lie in waiting...and not just for the bulls.
and 1 last one (please excuse the trite misdirection of the archetypes, but the action around 8:00 is poignant):
http://www.youtube.com/watch?v=lPalAR8Ieeo
be seeing you around the looking glass C, this round was fun for sure...adieu
if you erase the debt record we all go to zero...create total chaos
how bout everyone defaults and we go back to start...and why not tis one big game
very good idea. That is precisely why it will NOT work. TPTB don't like good ideas.
They prefer going from riches to mega mega riches, from an economy of billions to and economy of godzillions. The more zeros on the Balance Sheet the better they feel.
After all geometric progression is the sign that capitalism is triumphant...Reach for the sky!
You may have noticed that EVEN Greece and Portugal have joined the godzillion party!!!
With what? sea shells on the sea shores???
???
If all this PIIGS over-indebtedness really can force the Euro-North and the Euro-ClubMed into one big matrimonial fiscal-union bed, prematurely shoehorned in there with help if the IMF, expect a great deal or hair-pulling, scratching and vicious kicking in that bed.
It will end with the "talk to my lawyer!" scene.
The temporary exit of Greece from the eurozone is the right step back to save the principle and the long-term survival of the EU.
"What comes after biggest?" serfdom.
This monkey wants to see the action....bring it on.....
Well, "biggester", of course.
What comes after "the biggest load of feces yet is about to hit the fan"
All the shit in all the world with a mouse dropping on top!
E pluribus unum in table format. BTW, shouldn't the right-hand column be "inflation factor". :D
I was reading about the IMF and have a question. Currently each donor nation pledges gold to the IMF as collateral for their dues. If this increase were to pass will the increase also be in gold as well? I guess we the taxpayers are fixing to really get screwed bailing out Europe. I am an old guy and thought I would never say this in my lifetime, Let them all go fricking bankrupt and let God sort them out!
This is getting old, they do the same thing over and over and all it does is enslave my children and grandchildren. Greedy bastards. We will bail out Europe you watch and see. But we will screw our own people. Some folks and their cronies just need to be took out and hung! What totally pisses me off most people in America do not have a clue and when you try to discuss it with friends you get these stares, you know the one like your a crazy racist moron and belong in jail. What happened to us as a nation?
5 greenies for this comment.
I'm in my early 30's, I start talking with older clients and I get the "you young whippersnappers think you know it all" attitude. People of my own age group don't even begin to give a flying fuck....get a lot of "don't be a conspiracy kook" looks...either that or "um, that's too bad...so who's on your fantasy football team?"
I know it's sad, I have been through it for many years. I really don't think it is an age thing, it's more of an awareness of the BIG picture, some get it and some don't. To be honest with you, I have quit trying. If some one makes a comment and I see where they are coming from, we have a nice conversation. I have four married kids and ten grand kids. Of the twenty,(two grand kids are married) four get it, the rest are like the prodigal son and don't have or are interested in a clue. I think the old mans loosing it, party on. Makes me real sad.
Yes - I agree completely. One stunning thing to me is Thomas Jefferson knew this could happen and spoke of it explicity.
In an irony I am sure no one at the IMF can see, the defenders of the "international monetary system" are the creators of "special drawing rights", a fiat currency comprised of fiat currencies. Not unlike a CDO-squared, it is debt leveraged on debt. The original debt is not backed by any assets, but by summing it all up we get AAA debt.
The threat to the "international monetary system" is of course fiat currency itself, which is at the mercy of the men who command the computers. They will call you a recidivist neanderthal for questioning fiat currency. In the end they will try to steal your hard assets. Be prepared.
911 Weekend PICTURES
http://markettechnicals-jonak.blogspot.com/
The mostest funneriest thing of all is that Greece is listed as a new entrant for $2.5B to bail out themselves. Hmmm....can you book that as 'GDP growth'? lol
Completely OT, however; could all this have a play in the Southwest blackouts that just recently happened, and the FBI issuing a credible threat to 9/11 memorial?
http://www.youtube.com/watch?v=ulxPdrmyv6A&feature=player_embedded
If anyone could shed some light, would be much appreciated.
cheers
It's called "Happy Fear Day." Shhhh. Don't tell anyone but "somewhere somehow someone is plotting against us." Now here's how we fight back:
http://www.youtube.com/watch?feature=player_detailpage&v=mYoT06b62Rw
OT: Question about using ads to place an order with Apmex. I just used the link from ZH to order a coin on Apmex. The ad had something to do with Australian coins. I did not order those coins, I ordered something else. I forgot to log in to ZH before ordering, does ZH still get credit for the order?
Dumb and Dumberer was the first thing that popped into my head.
Maybe Dumbererest comes next?
Peyte
Now who was it that said, "Neither a borrower nor a lender be." ??????????????????
Polonius (in Hamlet).
Reading this article reminds me of this song:
http://www.youtube.com/watch?v=0C6bVckO_CM
(Making plans for Nigel, XTC)
To me it sums up TPTB who are busy making plans to save us, and that we should all be grateful. "Nigel loves to speak, and he LOVES TO BE SPOKEN TO".
I like the joker, and the rolling dice like the bankers try their luck one last time.
Or the lead singer, like the politicians say how much they are all trying to help as "Nigel" get brutalised and humilated in the video. "Nigel is happy in HIS world"
I like the labels that get handed out, "Forman", "Policeman", "Worker", "Clerk" - perhaps a few more could be added - "Unemployed", "Voter", "Rioter", "Revolutionary"
For me, a cool song. Sums up the current world economic situation perfectly.
GLD and GDX hedge classic trade
http://capital3x.com/?p=1037
This is going to give the looters so called US Treasury to rob the US public in the name of National Security. Watch and see.
Only thing one can do is
Get guns
Stock up on food
get a dog or two and when it barks when you are asleep , pull the trigger.
IMF to ECB: W'll trade you one Resource pool, three CDOs, eight off-budget senior allocations, and three CDOs for two of your non-par bonds, six unitranche debt instruments, four QUIDs, seven PEACs, two CPDOs, nine RCNs, and a handful of senior B grade IOD coupons.