• Gold Money
    05/26/2016 - 14:27
    Here’s a question that might have you pondering: Is gold a commodity? More importantly, are we doing a disservice to the gold industry by calling gold a commodity? These may sound like silly...

Highlights From G-7 Statement Which Basically Says That The Plunge Protection Team Just Went Global

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sun, 08/07/2011 - 19:48 | 1534571 slaughterer
slaughterer's picture

G7 1 : ZH 0

Sun, 08/07/2011 - 19:54 | 1534580 Quixotic_Not
Quixotic_Not's picture

Quixotic_Not 5,430 oz. : slaughterer -0-

Sun, 08/07/2011 - 20:03 | 1534602 narapoiddyslexia
narapoiddyslexia's picture

Slaughterer sold his gold last week. Ha! Nanner nanner nanner . . .

Sun, 08/07/2011 - 20:53 | 1534623 Threeggg
Threeggg's picture

From the Webster's Dictionary


Law . a secret understanding between two or more persons to gain something illegally, to defraud another of his or her rights, or to appear as adversaries though an agreement:



Sun, 08/07/2011 - 21:43 | 1534857 Michael
Michael's picture

G7 says currency rates should be decided by markets

Isn't that what Dr Ron Paul has been saying about interest rates for the past 30 years?

These fucking markets manipulators are so going to get what they deserve with a complete and total worldwide economic collapse of biblical proportions.

Mon, 08/08/2011 - 01:34 | 1535939 global
global's picture

We are all going to get what they deserve. 


And before someone jumps on this with a comment about owning Gold, gold is a means of transfer...if they other guy aint got fuck all to transfer to you in return for your gold, what good is it?  Yes it sill store some value and is clearly better for that purpose than fiat, but value is relative and its going down with the "wealth" of the world.

Mon, 08/08/2011 - 02:33 | 1536062 IQ 145
IQ 145's picture

---"rates should be decided by markets"; they figured that out all by themselves, ehh? I'll be damned.

Sun, 08/07/2011 - 21:55 | 1534924 g
g's picture


"Quixotic_Not 5,430 oz. : slaughterer -0-"


Your post there is probably going to take the top spot of all posts I have ever seen posted at ZH. I have been here for a few years long before I ever started posting. I am still LMFAO.

Sun, 08/07/2011 - 22:42 | 1535077 Quixotic_Not
Quixotic_Not's picture

Glad to be of service  ;-)

P.S.  I was over on TF when it started and read ZH too, converting over only this year as a poster...

Can't believe the tyrannical insanty I put up with via Karl, what an incredibly self-deluded A$$HOLE!  Should have fled that shithole (aka ticker forums) before!

Sun, 08/07/2011 - 22:55 | 1535137 g
g's picture

I am a ZH convert now, this is the only econo-blog, that I post on anymore, although I read quite a few still. The trolls are everywhere and provide for amusing comment. Once again great post.

Sun, 08/07/2011 - 19:56 | 1534593 fuu
fuu's picture

Since I lack any buttons beyond reply:



Sun, 08/07/2011 - 20:03 | 1534604 d00daa
d00daa's picture

still puking up blood from last week?  got any more shitty calls for us donkey?

your trolling sucks as bad as your calls.  momofader is much better.


Sun, 08/07/2011 - 21:14 | 1534722 Placerville
Placerville's picture

I agree - I really appreciate ZH's info and insight, but I think it's too fatalistic at times.

Never underestimate the ones with the printing presses.

Mon, 08/08/2011 - 02:40 | 1536071 TruthInSunshine
TruthInSunshine's picture
by Placervilleon Sun, 08/07/2011 - 21:14#1534722

I agree - I really appreciate ZH's info and insight, but I think it's too fatalistic at times.

Never underestimate the ones with the printing presses.


"Never underestimat[ing] the ones with the printing presses" as a strategy is viable because of the long historical streak of consistent, fundamental successes they've had in all matters economic, right?



Mon, 08/08/2011 - 06:13 | 1536230 BigJim
BigJim's picture


Though the REAL powers that be - the Rothschilds, Lombard, Morgans, et al, seem to do quite well.

Sun, 08/07/2011 - 19:49 | 1534575 doomandbloom
doomandbloom's picture

Arent all these 7 nations deeply in debt?!


Are they still important to any economic decisions of the world??

Sun, 08/07/2011 - 20:56 | 1534635 Growyourownfood
Growyourownfood's picture

Not Caaaanadaaaa

30% debt to gdp, bitches. And falling. Want some pancakes?







Sun, 08/07/2011 - 21:45 | 1534869 disabledvet
disabledvet's picture

i think you mean "not the livestock, George...
the big boys are moving--but so are the bank robbers:

Sun, 08/07/2011 - 21:46 | 1534874 oldpond
oldpond's picture

That's because our banks are regulated.  How do you like your free market now?

Sun, 08/07/2011 - 22:15 | 1534991 Mec-sick-o
Mec-sick-o's picture

I agree to our NAFTA partner, we also had our own bank loot back in 1994.  I'm a bit worried on the pace manufacturing is coming back from China, still too slow for my taste.

Mon, 08/08/2011 - 06:18 | 1536233 BigJim
BigJim's picture

LOL, what 'free market' would that be then?

Here, do us all a favour and educate yourself: http://mises.org/books/freebanking.pdf

Sun, 08/07/2011 - 19:54 | 1534576 Spitzer
Spitzer's picture

Can/will  they hold down gold ?

Why didn't they just pay somebody at S&P to just shut the fuck up then ? I think this is a  behavioral economics ploy. Similar to the FRBNY changing fees for deposits 

They wanted the downgrade to lower the dollar. The keynesians think productive industry will just fall out of the sky with a lower dollar. They forgot that productive industry is capital intensive and a lower dollar will starve America of capital when she needs it most.

Sad what these mental cases are doing to this country.

Sun, 08/07/2011 - 21:04 | 1534676 jdrose1985
jdrose1985's picture

If "they're" so hell bent on lowering the leper with the most fingers, "they're" doing a piss poor job of it!

Crude oil priced in fiatscos has plummeted which is indicative of the ultimate risk off scenario we are headed for.

Gold can go to 10kUSD and if crude is at $60, gold is something other than an inflation hedge.

Some might wish to rethink what's going on and what crude is trying to tell you...

To initiate currency debasement/inflation the USD/Crude link must be broken or all attempts are lies being promoted as truth.

Mon, 08/08/2011 - 01:33 | 1535935 Spitzer
Spitzer's picture

 Gold IS something other then an inflation hedge smart guy.

And if you think that the USD is the best of the worst then you need your head examined.




So make the case that the USD is better then the Euro.....I am waiting....


Mon, 08/08/2011 - 02:58 | 1536094 Ghordius
Ghordius's picture

I'd love to make the case against... I just can't...

Mon, 08/08/2011 - 10:04 | 1536236 BigJim
BigJim's picture

I hear what you're saying, but - for the moment - the USD is the currency you need to buy crude oil. And the chief reason for that is US military superiority - as long as the satraps sitting on Middle-Eastern oil rely on the US to maintain their tyrannies, they'll do as Uncle Sam says - ie, keep demanding USDs for payment. That in itself provides a bouy to the USD's value that the euro lacks.

Of course, that's a mixed blessing, because its artificially high level has led to the decimation of our manufacturing sector. I guess you can't have everything :-P

Sun, 08/07/2011 - 19:51 | 1534577 camoes
camoes's picture


Sun, 08/07/2011 - 19:54 | 1534582 Abitdodgie
Abitdodgie's picture

Thank god finally they are letting the markets be free to decide the rates , got to go my unicorn has its head stuck up its ass

Sun, 08/07/2011 - 21:43 | 1534858 Harlequin001
Harlequin001's picture

I bet that's gonna hurt...

Sun, 08/07/2011 - 23:58 | 1535482 StychoKiller
StychoKiller's picture

In other wordz:  "Raping of the Spanish/Italian peasants will continue until morale improves!"

Mon, 08/08/2011 - 01:28 | 1535923 combatsnoopy
combatsnoopy's picture

ITALY is part of the G7.  The same Italy that was cornered by subsidized Wall STreet with their interest rate and credit default swaps.  Without TARP and QE, these interest rate and credit default swaps would've been cancelled had the banks been allowed to fail, like they were with Lehman Brothers.

So now the banks are begging Italy to save them.   


All I got to say is, "KARMA'S A B*TCH"! 

Tue, 08/09/2011 - 07:07 | 1536511 mayhem_korner
mayhem_korner's picture

Best avatar I've seen (except Sudden Debt)!

Since you're senior to me in time here at ZH, I will respectfully find another.

Carry on, sir.


EDIT:  ...and the new look - WWI Ace yields to Gossamer

Mon, 08/08/2011 - 02:39 | 1536067 IQ 145
IQ 145's picture

Sir; in order to have a safe and happy Unicorn, the US Veternary service reccomends you replace his horn with "anal beads". Cheers.

Sun, 08/07/2011 - 19:54 | 1534583 FoieGras
FoieGras's picture

Why is ZH not reporting that Crude Oil is getting pole axed? We've had a news story on every $1 move up to $100. Now we plunged $20 and haven't heard since. Wonder why?

Sun, 08/07/2011 - 20:54 | 1534627 Stormdancer
Stormdancer's picture

So why don't you enlighten us with some pearls of wisdom on the topic?  I'm sure you must have some....ZH has been a little stretched covering current newsflow don't you think?

So, c'mon dude?  Give it up!  Tell us what's up with oil!  We wait with bated breath......

Sun, 08/07/2011 - 21:50 | 1534894 Michael
Michael's picture

The answer is simple;

Unemployed people don't use a lot of gas driving back and forth to work everyday. Nor do people drive around a lot and go shopping because of their low wages.

Sun, 08/07/2011 - 21:57 | 1534933 j0nx
j0nx's picture

I don't know about you guys but gas hasn't done shit but go up for me and is still $3.79 a gallon for 87 octane. It should be $2.79 by now but it isn't...

Sun, 08/07/2011 - 22:20 | 1535009 cosmictrainwreck
cosmictrainwreck's picture

exacto-knife. can you spell "hahahaha ya sleazy peons...fooled you, didn't we?" so what if we're paying 30% less for crude...got shareholders to answer to, ya know?

Sun, 08/07/2011 - 19:55 | 1534588 nmewn
nmewn's picture

More press releases! Wheres my pen! My kingdom for a pen!!!

Sun, 08/07/2011 - 22:20 | 1535012 Mec-sick-o
Mec-sick-o's picture

You can take my horse ;)

Sun, 08/07/2011 - 19:57 | 1534592 qqqqtrader
qqqqtrader's picture
  • " G7 says currency rates should be decided by markets "
  • http://www.scribd.com/AndysTechnicals


    Sun, 08/07/2011 - 19:57 | 1534595 winning
    winning's picture

    VERY BULLISH for my ink and paper ETF ... WNNING !!!!!!!!!!!!!!!!!!!!!!!

    Sun, 08/07/2011 - 21:17 | 1534739 snowball777
    snowball777's picture

    Pssst...you dropped your molars, Charlie.

    Sun, 08/07/2011 - 19:58 | 1534596 Danno Anderson
    Danno Anderson's picture

    The Great Liquidation continues and nothing is going to stop it.  The European Financial Stability Fund or EFSB just admitted they don't have enough resourses so another fund the SMP or Securities Markets Programme must take over.   It's not going to work.



    Sun, 08/07/2011 - 20:01 | 1534598 FunkyMonkeyBoy
    FunkyMonkeyBoy's picture

    When does the violent uprising by the people start?

    Its the only proven solution, right?

    Or did i accidently skip over a succesful historical period where sitting idle, apathetic and docile removed fascist tyranical governments?

    Sun, 08/07/2011 - 21:27 | 1534792 LawsofPhysics
    LawsofPhysics's picture

    red leader standing by...

    Sun, 08/07/2011 - 21:38 | 1534833 nmewn
    nmewn's picture

    When they're doing such a wonderful job all by themselves...just stand aside ;-)

    Sun, 08/07/2011 - 21:59 | 1534943 j0nx
    j0nx's picture

    Seems the blacks as usual have already started and as usual someone forgot to tell the whites.

    Sun, 08/07/2011 - 22:17 | 1535003 Oracle of Kypseli
    Oracle of Kypseli's picture


    Best revenge is to buy Gold and Silver, when they are defeated and demoralized, then you strike. keepyur power dry for a bit. 

    Mon, 08/08/2011 - 06:38 | 1536240 BigJim
    BigJim's picture

    When does the violent uprising by the people start?

    Most of 'the people' believe they are the government.

    Try talking to the average voter about the shortcomings of majoritarian democracy. It'll be a very short conversation.

    There's not a lot of point violently overthrowing your government if the people will just install a new one exactly like it ten minutes later.

    We need to educate, educate, educate... otherwise, we risk exchanging one bad form of governance - oligarchic fascism - for a worse form - communism, Pol-pot stylee.

    Do NOT follow this link or you will be banned from the site!