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The Historic Demise Of The Ever-Shrinking Dollar: An Infographic

Tyler Durden's picture





 

The almighty Dollar is looking less mighty these days. By almost every measure, the purchasing power of the US Dollar is in precipitous decline. The following infographic, whose contents should be well-known to our readers, visualizes the sad state of affairs that the average American seems to have ignored for far too long. And since the whole world is now engaged in the 4th year of all out currency debasement one can safely channel Lester Burnham and say it's "all downhill from here."

Shrinking Dollar Infographic

Infographic By Wholesale Gold Group

 


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Mon, 09/10/2012 - 19:06 | Link to Comment RockyRacoon
RockyRacoon's picture

Private debt, not public debt will be our demise.  Governments have options, people don't.

Mon, 09/10/2012 - 19:09 | Link to Comment falak pema
falak pema's picture

the whole idea is to transfer the first to the second; and its working. So all is well....according to your logic! 

Mon, 09/10/2012 - 19:23 | Link to Comment Pladizow
Pladizow's picture

When Obummer said he would double exports in the next 5 years, cutting the value of the $ in half was how he planned to do it!

Mon, 09/10/2012 - 19:57 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Even most intelligent people are missing the forest for the tree (or is through the trees?).

In this era of fractional reserve central bank radical interventionism in every aspect of markets, thus breaking markets, the entities and individuals who have Deeply Captured alleged representative and regulatory bodies within the U.S. & European Nations are perpetuating a scheme whereby they are actually wish to suppress private sector consumption (aka encourage private sector deleveraging), while at the same time encouraging governments to ratchet up deficit spending from here until eternity (never mind the once in a blue moon focus on "deficits," "debt" and calls for governments to reign in spending; it's all part of the staged play).

As long as governments keep running massive deficits, which leads to larger and larger debts accumulated, the Financial-Banking-Military complex makes money, and the larger the deficits and debts, the more money they make.  They care not that the former 2/3rds of consumption was fueled by private consumption.

This is a new era, and the way to maximize profits is to get governments to spend as profilicly as they possibly can, and if that means the organic economy withers and shrinks, and living standards of hundreds of millions of individuals fall as a sacrifice to be paid in order for a corrupt system of political and economic rot be perpetuated, so be it...CronyKapitalism & Deep Capture.

Mon, 09/10/2012 - 20:14 | Link to Comment RockyRacoon
RockyRacoon's picture

Oooh!  I musta touched a nerve with my opening salvo.  Here is some info that may expand upon my terse comment:

IT'S PRIVATE DEBT, NOT PUBLIC DEBT, THAT GOT US INTO THIS MESS

The arguments that the American Government caused this crisis through overspending on entitlements -- serving the so-called losers of society -- this is the standard line of the Far Right -- doesn't show up in this chart.

Government debt vis-a-vis Gross Domestic Product is not astronomical, according to this chart. It was not high in 1929 either, the last time the global economy had a heart attack and died. Public Debt is, in fact, at the time of this chart at least, lower than in 1945, when the public financed American involvement in World War II.

The Far Right illusion is that if government just 'gets out of the way' of private enterprise, the world will fix itself. But this chart gives a different picture of reality.

This chart says it is PRIVATE DEBT that is at astronomical levels vis-a-vis GDP. Private Debt in America was at 240% of GDP in 1929, before the global economy crashed then; and Private Debt in America was at 300% of GDP in 2009 -- and is still at 260% of GDP now, higher still than in 1929.

Mon, 09/10/2012 - 20:20 | Link to Comment ATM
ATM's picture

But it was government and the fed that drove the private debt with low rates, cheap money and forced lending to shitty borowers. 

If the Fed/Gov didn't set rates, and they were actually set by the markets we would borrow under a true cost of capital rather than the fantasy land rates now and in the early 2000s. You can claim it's private debt that's the problem, and I would have agreed with you 4 yrs ago but now that debt has been nationalized. Now whose problem and fault is it?

Mon, 09/10/2012 - 21:19 | Link to Comment Whatta
Whatta's picture

bingo!

and part of the debt, a big part, was/is housing. the gubermint made that problem worse by forcing loans to be made to those that could not afford them!!!

Private debt may be bad, but government set the table for that debt.

Mon, 09/10/2012 - 22:01 | Link to Comment AldousHuxley
AldousHuxley's picture

40% of US GDP depends on debt sales or trade by financial sector and 65% of economy depends on idiots using credit to purchase useless things.

 

US is dependent on ever-shrinking dollar system like an addict is dependent on substance abuse.

Tue, 09/11/2012 - 03:05 | Link to Comment TruthInSunshine
TruthInSunshine's picture

For anyone who doubted my rant above, read this article, which wasn't even published yet when I wrote what I did earlier, from The New York Times (though the author/Times try to cast exactly what I said is happening as "aw, shucks, what else can they do but sacrifice savers to allow governments to borrow cheaply?"):

Governments, with the aiding & abetting of central banks, are screwing their citizens over worse than they have in many, many decades (and in some cases, generations):

Low Interest Rates Benefit Governments, but Not Savers
  • As Low Rates Depress Savers, Governments Reap Benefits
By Published: September 10, 2012

A consumer complaint is ricocheting around the world: low interest rates are eating away at savings.

...

 

Though bad for people trying to live off their savings, low interest rates happen to be quite good for anyone borrowing money, like governments themselves. Over time, interest rates below the inflation rate allow governments to refinance, erode or liquidate their debt, making it easier to live within their budgets without having to resort to more unpalatable spending cuts or tax increases.

Along with keeping rates low, governments are using a variety of tactics to encourage captive audiences, like pension funds and banks, to buy their debt. Consumers, in other words, are subtly subsidizing governments without even knowing it. Economists have compared this phenomenon to a hidden tax on people’s wealth.

“If you ask a central banker is that what you’re doing, and why you’re doing it, they’ll say ‘No, we’re just trying to get the economy going by making it easier for the private sector to borrow,’ ” said Neal Soss, chief economist at Credit Suisse. “But I have a syllogism for you: The government makes the rules. The government needs the money. So why should it surprise if the rules encourage you to lend the government money?”

This is not the first time governments have benefited by depressing interest rates, something economists refer to by the ominous name of “financial repression.”

In the three and a half decades after World War II, interest rates in the developed world were on average below zero after adjusting for inflation, according to Carmen M. Reinhart, a professor at the Kennedy School of Government at Harvard. This helped Europe, the United States and Japan slowly whittle away much of their war debt as their economies grew faster than their debt burden.

“The difference is that the postwar period was one of strong growth, when rebuilding and capital investment was going on across the Continent, and there were strong demographics,” said Stefan Hofrichter, the chief economist at Allianz Global Investors. “But these elements are not necessarily in place today.”

For that reason, economists are less certain that the success of the strategy will be repeated.

Many major economies are already slowing down, if not outright contracting. And the actions taken by governments to keep interest rates low can restrain how much savers have to spend and force fragile banks and pension funds to take on more risk. Ultimately, it could crowd out private borrowing.

Governments have different mechanisms to keep their borrowing costs artificially low.

The Chinese government can just make a call to banks and dictate how much they will lend and at what interest rate.

“By forcing them to lend at low interest rates, China’s central bank is taxing banks at high rates,” said Nicholas R. Lardy, a senior fellow at the Peterson Institute for International Economics. “They make it up to the banks by dictating that banks pay depositors even lower rates, so consumers are getting taxed too.”

Tue, 09/11/2012 - 03:56 | Link to Comment Oliver Jones
Oliver Jones's picture

Is this the same China that encourages its citizens to put their savings in gold and silver?

Tue, 09/11/2012 - 01:10 | Link to Comment RockyRacoon
RockyRacoon's picture

I'll agree with you about the impetus for the debt.  Lay the blame wherever it is, but it's the debt itself that is important, not where it came from or whose fault it is.   The article doesn't intend to look back, it lays out the present conditions.  All the nasty down arrows are from those who think I am letting the crooks off -- not so.

Tue, 09/11/2012 - 05:04 | Link to Comment johnQpublic
johnQpublic's picture

i would like to point out that in 1980 you couldnt eat,...er, buy an ipad at any price

Mon, 09/10/2012 - 20:45 | Link to Comment nmewn
nmewn's picture

Kuznets was pretty clear about what his "invention" of the GDP measurement was...and what it was not. He specifically said do not use this for a measure of the well being of a nation.

""The welfare of a nation can, therefore, scarcely be inferred from a measurement of national income as defined above."-Kuznets

Don't be fooled by GDP Rocky, a full third of its measure is double counting for what has already been produced by the nation as a whole...that third is re-distribution by government.

Just sayin ole friend ;-)

 

Tue, 09/11/2012 - 01:17 | Link to Comment RockyRacoon
RockyRacoon's picture

I'm aware of the phantom accounting in the GDP.  I think it's gotten all off track with my post.  People don't have the same options as governments, I say again, and it's the private debt that is going to do us in.  Folks will just stop buying and the carousel will stop playing calliope tunes and come to a stand-still.  We can see it all around.   The knee-jerk reactions to comments is getting weird.  Perhaps it's a symptom of the unease.   A little reflection and careful reading of available sources of information are warranted, not reflexive attacks on a shallow reading which lead to misunderstanding.  That's not true in your case, but it sure seems to be, based upon the inordinate number of red arrows from folks who don't post a reply comment.  Sigh...

Tue, 09/11/2012 - 06:20 | Link to Comment nmewn
nmewn's picture

"Folks will just stop buying and the carousel will stop playing calliope tunes and come to a stand-still. We can see it all around."

Nice.

I was just noticing that yesterday. As you know, I live in "the sticks" and have a long commute to work. Yesterday, a Monday, the start of a full work week, I found myself completely alone on the highway when usually people are flying around, passing, signaling, late to wherever they're trying to get to. As far as the eye could see (front & rear)...no one. 

It had a strange feel. I found myself observing we are often times annoyed by the people we find around us but when they're not there we wind up longing to see them again.

Of course you know it wasn't me (I didn't rate it one way or the other) but I did this one. I was green number two for you here.

Just for waving at Galt as he drove by ;-)

Tue, 09/11/2012 - 07:29 | Link to Comment DanDaley
DanDaley's picture

As far as the eye could see (front & rear)...no one.


You mean like these photos of empty streets in Greece (coming to a town near you -or already here)?

http://www.businessinsider.com/greece-photos-the-economy-2012-8#our-read...

Mon, 09/10/2012 - 22:30 | Link to Comment Spastica Rex
Spastica Rex's picture

Of the people, by the people, for the people...

Debt = the future consumed today.

The Bernaysians made the future look so provocative that the plebs were forced to rape it. Yeah, right.

Good on ya, RR: +1

Mon, 09/10/2012 - 22:27 | Link to Comment steelhead23
steelhead23's picture

Thank you for setting us all straigh Rocky.  It is my opinion that this nation is suffering from a double whammy - a recession, partly attributable to the dot-com bust, plus a financial crisis caused by the financial industry itself and idiotic government policies and lack of oversight.  I happen to believe that most, if not all of the financial crisis was caused by a huge looting operation connected to derivatives.  The Magnetar trades were not an abberation of the market - THEY WERE THE MARKET.  It was not an accident that fast-food workers qualified to buy McMansions - it was a feature.  The real failure of the U.S. government in all of this is simply that it has chosen to ignore the vast thievery that has occurred and continues to occur.  They failed to put people in jail for stealing - billions (Yes John, I mean you).  Sheesh.  Wake up folks, the son of the then-sitting Sec. Treasury raked in $15 billion in the swindle and is welcome in any boardroom on Wall Street.  And he is not alone.  Wanna blame the government?  Blame them for that!

Tue, 09/11/2012 - 01:24 | Link to Comment RockyRacoon
RockyRacoon's picture

You've pointed out that it is not simple.  All your observations are pretty much spot on.  However, to beat a dead horse, it is what it is.  Yesterday will only be useful in pursuit of prosecutions, it is today that needs to be analyzed, and tomorrow that will require action.   I think we all have a role to play because we care, as is evidenced by our presence here.

Mon, 09/10/2012 - 23:52 | Link to Comment Libertarian777
Libertarian777's picture

you completely missed the boat, the theme and the entire point of 99% of all articles on this site.

It's not about either of the debts (public OR private), they are symptoms. It's not about the Republicrats or Obamney. It's not about the unemployed or welfare recipients, BLS lies, or propaganda.

Those are ALL symptoms of a core disease...

CENTRAL PLANNING.

Central economic planning by the fed.

Central planning by the federal government of education, healthcare, welfare (in the real sense), spending, etc.

Corporatism and facism can only survive in a centrally planned economy.

Everything you see is a symptom... we cannot possibly hope to solve ANY issues while we maintain this idea of central planning.

Ron Paul's idea of individual freedom (and individual responsibility) is the only cure.

Tue, 09/11/2012 - 00:19 | Link to Comment fourchan
fourchan's picture

a government cant create an economy.

Tue, 09/11/2012 - 04:40 | Link to Comment old naughty
old naughty's picture

Sure they create...

dependency.

Tue, 09/11/2012 - 00:46 | Link to Comment palmereldritch
palmereldritch's picture

I would think the biggest private debt has to be the FED's itself when it created all those FRNs, ostensibly backed by the US Treasury and then sent them abroad to numerous foreign banks, corporations and nations without formal approval of Congress ca 2008 to date...

I sure hope they have the private reserves available, as a private bank, to cover the debt they created unilaterally in the name of the US taxpayer without their consent. I mean, you can't write those kind of notes without assets...

I'm sure if effective US citizen and legal resources were brought to bear on those FED agents they would be able to identify their shareholders' and employers' significant wealth secreted away that would be more than sufficient to satisfy such a private debt that is clearly not the responsibility of the US Treasury nor the taxpayer...

I say collect where the assets are located...that's where any smart creditor looks....

Mon, 09/10/2012 - 21:16 | Link to Comment delacroix
delacroix's picture

he meant double the export of jobs

Mon, 09/10/2012 - 21:47 | Link to Comment q99x2
q99x2's picture

He exported my bread to the Chinese. Left me with 3 slices.

Mon, 09/10/2012 - 19:24 | Link to Comment diogeneslaertius
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falak

yes the whole point is to move debt around and in the process create an entangling web of dependencies which render state to the banking cartel oligarchy

Mon, 09/10/2012 - 19:51 | Link to Comment Atomizer
Mon, 09/10/2012 - 20:23 | Link to Comment OutLookingIn
OutLookingIn's picture

Debt is, DEBT! Is DEBT, is debt.  

By any other name is still DEBT.

All debt will be paid.

Either by the borrower or by the lender. It will be paid.

Either with dollars worth pennies, or with pennies worth dollars. It will be paid.

Mon, 09/10/2012 - 22:41 | Link to Comment Sam Clemons
Sam Clemons's picture

Much like the debt that European countries owed the US for helping to finance WWII?

Tue, 09/11/2012 - 09:32 | Link to Comment oldschool
oldschool's picture

Not quite.  My private debt isn't being transferred to the public sector.  And, in the end, I'll end up paying too large a share of that "public" debt to boot.

Mon, 09/10/2012 - 19:12 | Link to Comment r00t61
r00t61's picture

Only because governments can print money, and force everyone to use their printed money, and criminalize the use of alternate tender.  And additionally, governments then use that printed money to employ goon squads armed with badges and guns that then go around extracting money from the hapless people.

 

Mon, 09/10/2012 - 20:16 | Link to Comment RockyRacoon
RockyRacoon's picture

Like I said, governments have options.  Many/most of them very unsavory.  If we did the same by pillaging our neighbors we'd be in prison!

Mon, 09/10/2012 - 21:25 | Link to Comment malikai
malikai's picture

...or president.

Mon, 09/10/2012 - 21:36 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

The U.S. Govt. really doesn't have an option on repaying the debt it is in our Constitution but what the government has an option on is not stealing from one to give to another in the first place. 

 

 "Sect. 4 of the 14th Amendment. It reads in part:

”… .the validity of the public debt of the United States, authorized by law… shall not be questioned”

 

And second, there is this Criminal Mischief statute

18 US 1361. Government property or contracts

Whoever willfully injures or commits any depredation against any property of the United States, or of any department or agency thereof, or any property which has been or is being manufactured or constructed for the United States, or any department or agency thereof, or attempts to commit any of the foregoing offenses, shall be punished as follows:

 

If the damage or attempted damage to such property exceeds the sum of $1,000, by a fine under this title or imprisonment for not more than ten years, or both; if the damage or attempted damage to such property does not exceed the sum of $1,000, by a fine under this title or by imprisonment for not more than one year, or both.”

 

 

Tue, 09/11/2012 - 01:30 | Link to Comment RockyRacoon
RockyRacoon's picture

That's correct as far as it goes.  In today's financial system there are STILL government options that are no weirder that what we've seen so far -- things that we thought could never happen.  I offer as evidence:

Beyond Debt/Deficit Politics: The $60 Trillion Plan for Ending Federal Borrowing and Paying Off the National Debt
Mon, 09/10/2012 - 20:23 | Link to Comment Zap Powerz
Zap Powerz's picture

Its hard to think of a more effective business model.  Customers have two choices: particpate in a game with ever changing rules or......go to jail.

Mon, 09/10/2012 - 19:24 | Link to Comment Mr. Fix
Mr. Fix's picture

I think we all know by now

the dollar is turning to crap.

Mon, 09/10/2012 - 20:06 | Link to Comment El Oregonian
El Oregonian's picture

Well those government thieves stole $80 Million worth of gold from a private citizen (5) 1933 $20.00 Saint Gaudens Gold coins. How's that for debasement...

Mon, 09/10/2012 - 20:41 | Link to Comment lastboyscout
lastboyscout's picture

This is most ignorant comment I've witnessed in a long time. Question: Who do you suppose is on the hook for all that public debt our U.S. Govt is ringing up? Answer: You and me and every U.S. citizen alive. We pay taxes, and when the Govt spends more than is receives in taxes, it borrows, and those who lent money to us eventually want it back...with interest. The Govt. operates with tax money collected by it citizens, and pay back Debt with money from its citizens. You are delusional if you think the Govt has its own stash of money. All debt matters!

 Let's not even get into expanding the money supply!

Debt is the money of slaves. Every U.S. citizen is a slave

 

 

Mon, 09/10/2012 - 21:18 | Link to Comment derek_vineyard
derek_vineyard's picture

i have conceded and dropped my pants and bent over

Tue, 09/11/2012 - 01:33 | Link to Comment RockyRacoon
RockyRacoon's picture

Man is free at the instant he wants to be. - Voltaire

Tue, 09/11/2012 - 07:30 | Link to Comment Watauga
Watauga's picture

Voltaire was full of shit, and man is never free in this world.  Don't delude yourself.  We are beholden to someone and/or something at all times and in all places.  There is only one way to be truly free; we all know it; yet we deny it in our actions.

Tue, 09/11/2012 - 09:14 | Link to Comment exi1ed0ne
exi1ed0ne's picture

Freedom is a mode of operating, a mindset.  It is often incorrectly confused with the concept of no limits.

I did a thought experiment once.  I closed my eyes and imagined a version of myself that had the chains of social conventions, laws, and moral constraints removed.  It was the most horrifically inspiring moment in my life - I was alone and naked in that moment of freedom.  I realized in that moment how the chains that bound me were of my own design, forged of fear and the desperate need for social context.

Mon, 09/10/2012 - 22:46 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

Nope, people everyday say I can't pay and walk away.

Mon, 09/10/2012 - 23:31 | Link to Comment JeffB
JeffB's picture

Of course it's the government's central bank, the Fed, that is directly precipitating the private debt and enabling the massive spending leading to the untenable government debt.

When you artificially suppress interest rates to near zero levels, you discourage saving and investing and encourage spending and borrowing.

It shouldn't be much of a surprise that after decades of artificial goosing of the economy that the consumers are as far over their heads in debt as their idiotic spendtrhrift government.

It's a "consumer driven economy" after all.

When they want to goose the economy, they goose the consumers. When they run out of money, they loan them more... at lower interest rates. If they can't pay it back, they renegotiate the loans down and then bail out the banks that loaned them the money they couldn't repay just to keep the game going a little longer.

 

 

Tue, 09/11/2012 - 05:30 | Link to Comment geoffb
geoffb's picture

Really Rocky, government debt isn't a problem? I'd love to hear what "options" the PIIGS have.  Never forget, its not the stock of debt, its the flow baby. The article is using the wrong measure. When the music stops it stops for everyone, not just the private sector.

Thu, 09/20/2012 - 00:41 | Link to Comment RockyRacoon
RockyRacoon's picture

You inferred that public debt was not a "problem".   Quote me where that is stated and I'll buy the next round.  Your reading of the information was only half-assed.

Mon, 09/10/2012 - 19:07 | Link to Comment Flakmeister
Flakmeister's picture

I suppose that if you make more of them faster than they decay, it becomes a wash...

As for the viability of a gold standard, I suggest people read the Lords of Finance...

It is not the panacea that most here believe it to be....

Mon, 09/10/2012 - 19:28 | Link to Comment Pladizow
Pladizow's picture

There is no panacea, its which medicine does best!

Mon, 09/10/2012 - 19:41 | Link to Comment nmewn
nmewn's picture

They all come from debt, if debts don't matter, then neither does wealth, wages...or...taxes.

Just gimme my free shit ;-)

So, if thats the case, then we get onto the slippery slope of...why should I work for the same things as the guy who isn't working at all, just sitting over there under the tree watching?

I believe that was tried and failed.

Tue, 09/11/2012 - 06:20 | Link to Comment Disenchanted
Disenchanted's picture

 

 

That shady seat under the tree is looking better and better to me with each passing day. That coming from someone who has worked since I was twelve. I'm now fifty-three. My first 'contribution' made to SS when I was fourteen.

 

Need to think about some creative ideas to hop on board the SSDI train. Get some return on my almost forty year 'investment' before it all goes bye bye.  Ain't I 'entitled' to some 'free' shit by now? ;p

 

Do bunions qualify one for SSDI?  lol...

Tue, 09/11/2012 - 06:48 | Link to Comment nmewn
nmewn's picture

lol...thats how its done.

Extract it from you (under false pretense) over your working career to make you mad when someone threatens it. I'm in the same boat at 52. At around 24 I began to see what it was and offered the bargain to older friends, relatives, neighbors that I would work (and be taxed) just as always until I was 40 to pay for them...then leave me alone from there on out.

No one took me up on it then...and most said I was nuts, just a crazy "greedy conservative"...lol...even though I pointed out it was nothing but IOU's stacking up.

Well, here we are...and some 24yr old is out there, right now (our nephews/neices perhaps) saying the very same thing I said. Only their position is much worse than ours was, the demographics just don't support it...so who is being greedy now ;-)

We will be lucky to get a block of surplus government cheese back from what we paid in (remember those days?)...the original "food stamps" was actual food.

Mon, 09/10/2012 - 19:07 | Link to Comment A Lunatic
A Lunatic's picture

Just think how bad things would be if there was any inflation.............

 

 

/s

Mon, 09/10/2012 - 19:29 | Link to Comment falak pema
falak pema's picture

Letting the $ sink to foggy bottom...

the best way to bring jobs to america and debase the value of debt; impoverish "we the people" and meanwhile "the happy few" go fishing in the Caymans...not a bad strategy if you be oligarch. 

Mon, 09/10/2012 - 19:08 | Link to Comment orangegeek
orangegeek's picture

The US Dollar Index is completing its wave 2 down - followed by wave 3 up.

 

http://bullandbearmash.com/chart/usd-index-daily-september-10-2012/

 

The US Dollar is weighted about 57% against the Euro.  For the US Dollar to continue to fall, the Euro would have to rise.  Incidentally, the Euro is just completing its wave 2 up of a long term bear move.

Mon, 09/10/2012 - 19:29 | Link to Comment Pladizow
Pladizow's picture

Why would you judge one shit covered piece of toilet paper vs another?

Gold is the standard!

Mon, 09/10/2012 - 21:14 | Link to Comment nmewn
nmewn's picture

He enjoys paying commissions for putting his earnings at risk and filling out tax forms?

Mon, 09/10/2012 - 21:22 | Link to Comment Bay of Pigs
Bay of Pigs's picture

I always see this bullshit AFTER the fact. When the DXY was at 85 these same momos were saying it was going to 87 or 90 then, NOT back down to 80 where it sits now.

Face it, EW and TA is fucking useless in these broken markets. Give it a rest already. NOBODY called the Euro to 1.28 last week when the shorts got blowtorched.

Mon, 09/10/2012 - 22:50 | Link to Comment thecoloredsky
thecoloredsky's picture

only person i can think of who is bullish euro is jim rickards... and he's also bullish gold. crazy fucking world.

Mon, 09/10/2012 - 19:12 | Link to Comment Waterfallsparkles
Waterfallsparkles's picture

Until it was no more.  The End.

Mon, 09/10/2012 - 19:12 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

King Rahrah!

Mon, 09/10/2012 - 19:13 | Link to Comment Hedgetard55
Hedgetard55's picture

My FED Chairman nominations:

 

kito

Truth in Sunshine

Cdad

mnews

MillionDollarBonus.

Mon, 09/10/2012 - 19:36 | Link to Comment Thecomingcollapse
Thecomingcollapse's picture

MDB?? Well.... I suppose that the notes from the fed meeting would be hilarious to read if nothing else.

Mon, 09/10/2012 - 19:42 | Link to Comment RSloane
RSloane's picture

Indeed they would be.

Mon, 09/10/2012 - 19:44 | Link to Comment Hedgetard55
Hedgetard55's picture

mnews should be nmewn.

Mon, 09/10/2012 - 20:02 | Link to Comment nmewn
nmewn's picture

Its hard ain't it?...lol...think of, enemy within...when you write it. Because thats exactly what the abbreviation stands for...and I humbly accept the nomination knowing I would be dead in a year.

But what a year it would be ;-)

Mon, 09/10/2012 - 21:35 | Link to Comment kito
kito's picture

wow, this really makes up for being slighted in the prom king vote back in the day............

Mon, 09/10/2012 - 22:07 | Link to Comment shovelhead
shovelhead's picture

You should have worn a nicer dress.

Mon, 09/10/2012 - 19:18 | Link to Comment Waterfallsparkles
Waterfallsparkles's picture

Income Taxes before the Federal Reserve 0.  Income Taxes now?  28 to 50% of your earnings.

Mon, 09/10/2012 - 20:23 | Link to Comment ATM
ATM's picture

Ta Da!!!

Mon, 09/10/2012 - 20:26 | Link to Comment Zap Powerz
Zap Powerz's picture

Its like some secret plan was hatched on some secluded island somewhere.

Mon, 09/10/2012 - 21:11 | Link to Comment Haole
Haole's picture

Thanks man, that's the first belly laugh I've enjoyed today.

Tue, 09/11/2012 - 21:45 | Link to Comment TruthInSunshine
TruthInSunshine's picture

-

"Its like some secret plan, [so secretive that not even the POTUS was allowed entrance], was hatched on some secluded island somewhere."

 

Just a minor addition, brah.

Mon, 09/10/2012 - 21:53 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

So it's the Federal Reserve who is doing the spending and taxing hahaha ridiculous it's the politicians who do that via the Treasury the Fed doesn't have the power to tax or spend period. 

 As the Treasury borrows more and more money by issuing bonds and selling them to all comers, it commits itself, "with the full faith and credit" of the United States, to pay back its creditors in full. That means it will either raise taxes in the future or -- and this is the relevant point -- get the Fed to create more money by purchasing bonds on the open market. This is called "monetizing the debt" 

Princeton's Alan Blinder, who served as Fed Vice Chairman in the mid-1990s.

Blinder: "It's accountable to Congress; they have to explain themselves to Congress. They should. It's a creature of Congress, and this is a democracy. The Congress could change the Federal Reserve Act tomorrow if it saw fit. 

 

Mon, 09/10/2012 - 19:20 | Link to Comment Induced Coma
Induced Coma's picture

Thanks.

 

Thanks ZH, for helping me wake from my slumber. I stumbled apon this site in January of this year - and am beginning to understand what my gut has been telling me for years is wrong with this world.

 

Unfortunately for many in this world, there are no solutions - "there is no spoon". So there will be much pain and death as a result. 

 

I dont know how much longer free thoughts and expression on sites such as this will be allowed, so I wanted to take the opportunity to say thanks before its too late.

 

IC

Mon, 09/10/2012 - 19:25 | Link to Comment diogeneslaertius
diogeneslaertius's picture

awesome comment is awesome :)

Mon, 09/10/2012 - 19:32 | Link to Comment Pladizow
Pladizow's picture

To: Induced Come: - Follow the white rabbit!

Mon, 09/10/2012 - 19:42 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Welcome. It is the comments that I find the most value. Free direct flow of information between individuals....no gatekeepers.

 

Mon, 09/10/2012 - 20:11 | Link to Comment nmewn
nmewn's picture

There will always be a way...whether graffitti or pamphlets tacked to poles or word of mouth. No ones in the mood to shut up.

But you still gotta fight...its the rules ;-)

Mon, 09/10/2012 - 21:06 | Link to Comment crusty curmudgeon
crusty curmudgeon's picture

As I recall, the Communists referred to it as Samizdat.  The most classic example I can think of is well worth reading if you haven't already:  Havel's "Power of the Powerless" (http://history.hanover.edu/courses/excerpts/165havel.html).

Here's to those who will fight!

Mon, 09/10/2012 - 21:26 | Link to Comment nmewn
nmewn's picture

Yes, I am familiar with Havel, he was a good man & a fighter.

"The post-totalitarian system touches people at every step, but it does so with its ideological gloves on. This is why life in the system is so thoroughly permeated with hypocrisy and lies: government by bureaucracy is called popular government; the working class is enslaved in the name of the working class; the complete degradation of the individual is presented as his ultimate liberation; depriving people of information is called making it available; the use of power to manipulate is called the public control of power, and the arbitrary abuse of power is called observing the legal code; the repression of culture is called its development; the expansion of imperial influence is presented as support for the oppressed; the lack of free expression becomes the highest form of freedom; farcical elections become the highest form of democracy; banning independent thought becomes the most scientific of world views; military occupation becomes fraternal assistance. Because the regime is captive to its own lies, it must falsify everything. It falsifies the past. It falsifies the present, and it falsifies the future. It falsifies statistics. It pretends not to possess an omnipotent and unprincipled police apparatus. It pretends to respect human rights. It pretends to persecute no one. It pretends to fear nothing. It pretends to pretend nothing."

He is my brother.

Tue, 09/11/2012 - 01:35 | Link to Comment OldPhart
OldPhart's picture

If that quote doesn't put a pucker in your ass then you're already dead.

Tue, 09/11/2012 - 06:49 | Link to Comment nmewn
nmewn's picture

He nailed it.

Mon, 09/10/2012 - 20:32 | Link to Comment RockyRacoon
RockyRacoon's picture

Hang around a while.  ZH is a gold mine -- pun intended.

Mon, 09/10/2012 - 21:10 | Link to Comment A Lunatic
A Lunatic's picture

It's not the pain and death that's the trouble, but all of the screaming and crying in between............

Tue, 09/11/2012 - 01:33 | Link to Comment OldPhart
OldPhart's picture

You chose the red pill, now you're as screwed as we are. (Tyler keeps extra Reynolds Wrap in the pantry for new folks.)

Tue, 09/11/2012 - 10:54 | Link to Comment chaartist
chaartist's picture

after 10 years trading. this is the only site I must read. In past few months I don't even read the articles but skip right to comments section. I especially like TruthInSuhnshine ;)

Mon, 09/10/2012 - 20:15 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Actually thinking about Bernanke on Huffington post with written ~save us~, the more you think about Bernanke, the more this time around, the one wacked will be the owners of capital (bonds, stocks, dollars) and that would help the middle class, the LBO guys will do fine too, and that is the only bad side effect. 

If the middle class is deep into debt, the best way to give them relief is to try to force up hte price levels up one way or the other, and at the same time avoid that the consumer taking on some more debt (Actually the recent data shows that the consumer is not taking on more debt and savings rate is up, meaning consumer is repaying debt. The deplorable exception of student loans).Right now only soft commodities and oil are going and not wages, that might change.

Maybe the farmer could take on some debt, maybe the oil producers could take on some debt. Just jack up the price to a new higher permanent level one way or another (maybe a war or a threat of war with IRan would be enough.) This way if he can force wages up, we finally have the beautiful deleveraging, forcing the wages up enough so that the middle which is deep in debt can repay its debt faster. Fuck the bond trader, fuck the stock broker, fuck the owner of stocks or dollars (the biggest holders of dollars, bonds and stocks are probably stock brokers.) Of course someone will benefit, the farmer, the commodities trader, the Gold and Silver holders. Bernanke is making the holders of equities believe he is in to help them, but actually those guys are being played, the rally in Stock was convenient to make the transition to the inflation phase, he does not give a shit about the stockholders and bondholders. 

Don t you find interesting that the rich right now own stocks and bonds and treasuries for hte most part and that the red necks owns Silver, and the consumer is in net debt? Maybe the saver in fiat this time is not the middle class man but the one who made money out of the leveraging cycle...If you have some net debt, and you will see some wage inflation, you net debt might decrease, if you are a red neck and own Silver, Bernanke is actually transfering money from the stupid stockbroker owning stock and bonds to you. Historically inflation has always helped the one deep in debt, and the commodities owner, and hurt the owner of capital either stock, bonds or cash. Teh middle class is deep in net debt, and the red necks own Silver. I never thought I would say that but, thank you Bernanke for fucking in the ass the stockbrokers who owns treasury bills and AAPL stock, please create inflation, fuck them all up.

Sometimes things are not the way they look.

 

Mon, 09/10/2012 - 22:11 | Link to Comment PeterSchump
PeterSchump's picture

That is the design, to force cash hoarders out of cash. The wild cards are traditional stores of money, the rise of which the Fed is actively trying to suppress. But nature, and the part of the world outside the locus of control, is refusing to dance. I believe this is why you see some scared that their policy is ineffective. Hugh Hendry called it saying the politicians are terrified. The problems are so vast at this point that it is beyond their ability to respond, and they know it. Right now it is still a wait and see. When the politicians lose all hope......that is when the real fun starts.

Mon, 09/10/2012 - 19:21 | Link to Comment GrinandBearit
GrinandBearit's picture

There's only a limited amount of time left.   Prepare accordingly.

Mon, 09/10/2012 - 19:21 | Link to Comment diogeneslaertius
diogeneslaertius's picture

America: Destroyed By Design

you simply cannot have a bunch of free, armed, intelligent, wealthy people stomping around in NA if you are going to create a one world government

the rest is a tactical inevitability - the problem they have is US and not because were armed and ready and dug in like an Alabama tick... no, because the world over we are creating a culture which is self sustaining in a generational sense and which is growing by leaps and bounds, a culture which is Aware of History and the congame

Tyranny is a Symptom

Apathy is the Disease (16th amendment lulz)

Awareness is the Cure

http://www.youtube.com/watch?v=BydBT6pEqz4

 

Mon, 09/10/2012 - 21:20 | Link to Comment Skateboarder
Skateboarder's picture

Apathy is the worst disease of all and it has been spreading rampantly into all facets of life. It's fucking destroying everything man.

=\

Mon, 09/10/2012 - 19:24 | Link to Comment duo
duo's picture

I remember as a kid when candy bars went from 5 cents to 10 cents (late 60's I think).  NOw a candy bar is $1 on sale.  Yup, no inflation.

Mon, 09/10/2012 - 19:38 | Link to Comment GlomarHabu
GlomarHabu's picture

I remember college in 1968. Gas 28-34 cents a gallon. I had a '65 Sting Ray. Could fill it up for $5.00. An oz. of reefer in Gainesville was $5.00 .... bra buring was coming online big time so there it was ..the perfect trifecta , ah superfecta.... sex,drugs,fast cars and rock n roll.

Damn it was good to be a gangsta.

Mon, 09/10/2012 - 21:05 | Link to Comment Bobportlandor
Bobportlandor's picture

Yep I remember that also.

I also remember when that happened a drugstore I would ride my stingray bike too still had 3 bars for a dime. 1.3 -1.6 ozs.

My guess 1967

And in 1972 BC pills cost 2.50 a month. Fn your girlfriends only cost 4 cents a day.

Mon, 09/10/2012 - 19:27 | Link to Comment nmewn
nmewn's picture

A funny thing happened on the way to the much ballyhooed neo-keynesian monetary bliss our best & brightest professors promoted ad nauseum. Jobs & wages failed to keep up with a collapsing currency.

Ah well, it can now be said...We Are Not All Keynesians Now...only the well connected are.

Mon, 09/10/2012 - 20:05 | Link to Comment epwpixieq-1
epwpixieq-1's picture

As always, the way to the not-so-good-place is paved with good intentions.

It is always like that, the people in power always do whatever they need in order to preserve their power and will present it as a good thing, and the worst really is that they truly believe in their rightness.

 

Mon, 09/10/2012 - 20:22 | Link to Comment nmewn
nmewn's picture

I think they do too, most of them.

But now there are no excuses, everyone (all sides, from the billionaire to the welfare recipient) knows that its unworkable and toxic to the very people its promoted to as charity & virtue.

It was a lie and a fraud at its conception...now the hard part comes...what to do with the generations of victims...because all of us are, cept them ;-)

Mon, 09/10/2012 - 19:30 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

Far too much emphasis on the Fed IMO.  The Fed is a scape goat for the politicians. They put it in place, they leave it in place and it's the spending/debt that is in reality devaluing the dollar. That may be an unpopular opinion here but it is a fact.

"Once you understand the details of modern central banking, you are able to step back and see that it truly is a way for the government to use the printing press to pay its bills. All of the complicated process of targeting interest rates through buying Treasuries simply hides this essential point — and perhaps deliberately so."

The Fed as Giant Counterfeiter

http://mises.org/daily/4029

Mon, 09/10/2012 - 19:54 | Link to Comment nmewn
nmewn's picture

Plus sixteen trillion.

I've been bangin on this for years. Everyone wants something, no one wants to pay. Its as simple as that...but theres more.

Enter the politicians and their friends the bankers.

I will give you all the money you need in order to make all the promises, of the goodies, you need to get elected next year (hisses the banker in the politicians ear). All I ask of you in return is a small profit for myself and your protection (by law) for counterfeiting what I don't have to give you.

Deal?

(Politician thinks for a moment)

Deal.

Mon, 09/10/2012 - 21:22 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

The Gold Standard Is Coming

snip

The Obama/Bernanke Federal Reserve has been an abysmal failure. No major country’s central bank has been so destructive since the Fed in the 1970s; prior to that, nearly a century ago, it was Germany’s central bank, which created a hyperinflation that helped set up an environment for the Nazi revolution.

Unlike other central bank catastrophes this one, so far, is of a slow-motion variety, which is disguising the immensity of the harm being done.

For the first time in our history our credit markets have been rendered incapable of providing sufficient capital for small- and medium-size businesses, while starving startups and would-be startups of the wherewithal to grow to their full potential.

 
In order to work properly and productively markets need a reliable pricing mechanism. By manipulating interest rates on such an unprecedented scale the Federal Reserve has effectively destroyed the ability of our credit markets to genuinely price the borrowing and lending of money. 

Mon, 09/10/2012 - 22:29 | Link to Comment nmewn
nmewn's picture

Its starting to get a lot more "play" now...the real gut check will come, I have no doubt.

I'm under no illusions of what they will do to scare the uninitiated away from honest money. All we can do is say we tried to help them off their crutches and they refused, running back to big daddy screaming like the infantile cowards they are, it will be their choice to live free or as a slave.

And Keynesian/Monetarists take note, I don't suffer fools well, especially the second time around.

Tue, 09/11/2012 - 09:26 | Link to Comment rustymason
rustymason's picture

Is it possible that all these mountains of debt will be replaced with a new, global currency fo some kind?  That the sheeple will be tricked into substituting their existing fiat for a "NEW! IMPROVED!" currency (debt instrument) of some kind? 

Mon, 09/10/2012 - 19:30 | Link to Comment GlomarHabu
GlomarHabu's picture

 

 

I wonder if an aging Mr. T still walks around in his gold coffle?     Pity the fool !

Mon, 09/10/2012 - 19:30 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

We purchased our first house 40 years ago for $27,000. About 10 years ago, that same house

sold for $270,000. My wife said to me: "That house is worth 10 times what we paid for it"

I replied: "No dear, the dollars with which we purchased the house are worth 10 times less."

Inflation is how government robs savers to pay for deficit spending. Because it is a stealth

form of robbery, few people notice it is happening until it is too late to protect their savings.

Now is the time to convert all your savings into physical Gold and Silver and take possession

because the rate of inflation is about to skyrocket.

Mon, 09/10/2012 - 19:54 | Link to Comment Racer
Racer's picture

and make sure your children do NOT save a single thing for retirement....

save a million quid now will be only worth a single piece of chewing gum by the time they retire and want to cash it in thanks to the frauderal nerve and the CNS bwanksters

Tue, 09/11/2012 - 03:00 | Link to Comment AnAnonymous
AnAnonymous's picture

and make sure your children do NOT save a single thing for retirement....

save a million quid now will be only worth a single piece of chewing gum by the time they retire
_________________

That is taboo talking... Not that welcomed to state that 'American' economics is all about consumption.

Mon, 09/10/2012 - 20:33 | Link to Comment jimmyjames
jimmyjames's picture

: "That house is worth 10 times what we paid for it"

I replied: "No dear, the dollars with which we purchased the house are worth 10 times less."

************

On the other hand-if say you bought the house at the market peak in 05 for 270,000 and today the market value is 27,000 (entirely possible) could you say the value of your dollar has increased 10 times or would you say the housing market crashed?

Mon, 09/10/2012 - 21:31 | Link to Comment malikai
malikai's picture

I'd say Darwin was right.

Mon, 09/10/2012 - 19:32 | Link to Comment max2205
max2205's picture

Lira

Mon, 09/10/2012 - 20:24 | Link to Comment Sathington Willougby
Sathington Willougby's picture

bthreeaeeeatttt

FOUL:

You aren't allowed to say his name.  Or vote for him.  A vote for he that shall not be named will be flipped or uncounted.  He will be given no attention in the debates.  Thousands will flock to see him yet this will be ignored.  His delegates will be unseated.  Committees will throw his delegates out.  Buses of his delegates will be diverted.  A cheesy video extolling his belief system will patronize him, while his belief system is systematically shat on.  Rules will be changed to block him.  Rules will be changed to prevent his kind from ever, ever threatening the hierarchy of extortion.

His name won't be said.  His ideas aren't his.  They will be heard far and wide.  Stop the man all you want.  The ideas won't be stopped.

Mon, 09/10/2012 - 19:42 | Link to Comment supafuckinmingster
supafuckinmingster's picture

"I remember college in 1968. Gas 28-34 cents a gallon. I had a '65 Sting Ray. Could fill it up for $5.00. An oz. of reefer in Gainesville was $5.00 .... bra buring was coming online big time so there it was ..the perfect trifecta , ah superfecta.... sex,drugs,fast cars and rock n roll."

 

Man they sound like good times, when the American Dream, for a Europaen, was a lofty goal, on the summit of all other goals. What have you let the dream become?

 

And before you berate Europe (Ireland in my case), Europe was always a controlled, over taxed shit hole, with not nearly enough guns in the hands of people.

Mon, 09/10/2012 - 19:56 | Link to Comment Dan Watie
Dan Watie's picture

hot rods in '68
igadgets in '12

excuse me but it must really suck to be young today.

what will '56 be like?

Mon, 09/10/2012 - 20:48 | Link to Comment Bobportlandor
Bobportlandor's picture

So in 68 you bought gas for 28-34 and in Santa Monica 1971 I bought gas for 27-32. And drove a 1971 4x4 Ford PU with 12" wheels burning gas thru headers at 12 mpg.

AH THE GOOD OLD DAYS

ENDED WITH THE CORRS.

 

Mon, 09/10/2012 - 21:38 | Link to Comment optimator
optimator's picture

Drove a 6 year old car in High School.  Gas was .18 a gallon, cigarettes two bucks a carton.  But, for one hour of part time minimum wage earnings I could buy either 5 gallons of gas or 5 packs of cigarettes.  A quart of beer was a buck.

Mon, 09/10/2012 - 19:43 | Link to Comment hannah
hannah's picture

fiat money rules...! i just bought a chevy volt for $30k that costs $90k to make. where's the inflation i ask....?

Mon, 09/10/2012 - 19:52 | Link to Comment LouisDega
LouisDega's picture

My friend just bought a 2012 Chevy Camaro. Beautiful as fuck. Life is good

Mon, 09/10/2012 - 20:02 | Link to Comment outofhere
outofhere's picture

My daughter just bought a 2012 Camaro and the torque converter went @ 2500 miles.  Into the shop for retrofit.  I on the other hand have a 1969 Camaro original with 89,000 miles on it and it will still blow exhaust in the face of any Porsche.  Guess life IS good for us old heads.

Tue, 09/11/2012 - 02:36 | Link to Comment James
James's picture

outofhere- Just tonite read that torque converters and the transmissions are bad on '12 camaros.

Recalls immediately AFTER Nov.6

Fun Fact-70% OF ALL GM PRODUCTS are now made in China

Good thing taxpayers saved GM (S)

Fun Fact 2- Ford is now using GM trannys in some of their models.

In1976 my second car I owned was a 1938 Chevy 2 door coupe W/a 350 small block.

Came w/original paperwork. $637.00 FOB  Detroit

Mon, 09/10/2012 - 20:08 | Link to Comment outofhere
outofhere's picture

The inflation is in the 60 grand the Government subsidized GM to put the piece of junk on the market.  Guess my taxes are going up again.

Mon, 09/10/2012 - 20:28 | Link to Comment LMAOLORI
Mon, 09/10/2012 - 20:36 | Link to Comment Papasmurf
Papasmurf's picture

You'll pay the other $60K if you keep that car on the road for 7 years, 70,000 miles.

Mon, 09/10/2012 - 21:30 | Link to Comment optimator
optimator's picture

And park it in your driveway, NOT your garage.

Mon, 09/10/2012 - 23:47 | Link to Comment Hulk
Hulk's picture

The garage is used to house worthless junk, from floor to ceiling. The car, worth thousands of dollars, is kept outside in the weather. Its the American way...

Mon, 09/10/2012 - 19:46 | Link to Comment savagegoose
savagegoose's picture

as i recall a world ran on gold standard the whole time slavery was around.

ergo gold standard is good for keeping slaves

 

nvm the cpi how has standards of living gone since we  went off gold.?

im sure in the worldm more people have higher standards of living than anytime in hisory\

 

byut then we could use bannasa for moneym, its who is connected and corruppt that wants and does rob you that matters, not the money.

a fiat system ran correctly and not debt based, would help we need to fuck off the bankers, but also fuck off the corrupt pwer elites.

 

i think we are always doomed to be used

Mon, 09/10/2012 - 22:21 | Link to Comment PeterSchump
PeterSchump's picture

Using gold as money also caused the plague.

Mon, 09/10/2012 - 19:49 | Link to Comment supafuckinmingster
supafuckinmingster's picture

"So, if thats the case, then we get onto the slippery slope of...why should I workfor the same things as the guy who isn't working at all, just sitting over there under the tree watching?

I believe that was tried and failed."

 

Still alive and well in Ireland.........it's called the "welfare state" and it's the reason that during the period that Ireland had "full employment", circa 2002-2006, and was importing unskilled labour into the country from Eastern Europe and Africa to fill lower paid manual and service jobs that Irish wouldn't work, we still had 150,000+ on the live register of "unemployed but not disabled/sick". The long term unemployed. How can a country have full time unemployment, and at the same time have even 1 long term unemployed, let alone 150,000. And all this with a total population, not total adult/work age population, total population, of 5m?

And these lazy bastards lived at far higher a standard than the average US productive worker ever will.

Mon, 09/10/2012 - 20:05 | Link to Comment Pancho Villa
Pancho Villa's picture

I'm not sure that the dollar is dead yet, but I do notice that people have very little respect for the penny nowadays. I see them lying in change slots at the grocery store or just lying on the ground and people just walk past them without bothering to pick them up. Also I notice that merchants have begun sometimes rounding up to the nearest 5 cent multiple when making change. For example, if they owe you 8 cents, they might just give you a dime even though they have plenty of pennies in the change drawer.

The dime is the new penny. And the dollar is the new dime.

Mon, 09/10/2012 - 21:32 | Link to Comment delacroix
delacroix's picture

and top ramen is the new cat food

Mon, 09/10/2012 - 21:34 | Link to Comment Axenolith
Axenolith's picture

At some point, those Cu pennies will be the new dime or quarter.  Might be time to make a press die that just squeezes them into Cu disks with their weight in grams on them...

I found a fat early 60's pocket drop this weekend detecting, Silver quarter, war nickel, 4 wheat cents and 3 early memorials.  Also found a 31 merc dime, another war nickel and a silver ring in different spots in the same park.  Been a while since I could sniff out a 5 silver day and that one, on the straight ledger view, paid for the gas and then some ;-)  I should have quit while I was ahead, but after the merc I put in another 2 hours or so hoping to score a grand slam (i.e. get a Seated Liberty and a Barber with what I had).  That wasn't happening though... (The park has produced a grand slam for a buddy, and the seated he found was worth about $1000 to boot).

Mon, 09/10/2012 - 20:18 | Link to Comment supafuckinmingster
supafuckinmingster's picture

outofhere : "My daughter just bought a 2012 Camaro and the torque converter went @ 2500 miles.  Into the shop for retrofit.  I on the other hand have a 1969 Camaro original with 89,000 miles on it and it will still blow exhaust in the face of any Porsche.  Guess life IS good for us old heads."

 

Your 1969 Camaro has 89,000 on the clock?

 

Two possibilites:

 

1) Your 1969 Camaro has been taken out for a leisurely drive around the block every sunday for 43 years or...

 

2) Your 1969 Camaro has 1,089,000 miles on the clock and has righted the clock more than 10 times.

 

Which is it?

Mon, 09/10/2012 - 20:48 | Link to Comment RockyRacoon
RockyRacoon's picture

That's not hard to believe.  Just a few years ago I sold my 1966 Chevelle SS 396 with less than 80K actual miles on it.  What's the big deal?   For a new car 100K miles is chump change; for the 60s cars that kind of mileage is worn out.

Mon, 09/10/2012 - 21:41 | Link to Comment WTFx10
WTFx10's picture

How many union auto workers were employed and becoming middle class during the 60's ?

 When did the price of gasoline make building muscle cars stupid?

When did having new found wealth make muscle cars attractive again?

 When did the price of gasoline make building muscle cars stupid?

Who got wealthier while the muscle cars were being built and sold?

Who got wealthier when the price of gasoline made building muscle cars stupid?

How many car companies in the sixties and how many just sold cars in the US?

How many car companies now and how many  sell cars in the US?

Its a game up and down and the same people make money on the up's and the downs. The same "money" we let them print and then they tell us we must use it. They tell us this is for our own good because they know best, they're smarter than us. They have PhD's and went to the "best?" schools. Best for who?

This benefits who?

Capitalism?

Rigging the Game?

The Con (a guess is 1 to 4 million active participants, no militarys) worldwide and the Mark? (about 6 billion?) Constantly getting new marks but the main con men keep the wealth within the family structure ensuring it always flows to them?

The game is rigged don't play?

Tue, 09/11/2012 - 00:45 | Link to Comment RockyRacoon
RockyRacoon's picture

Don't know.  Why don't you enlighten us with the answers -- if you have them.   I sure don't.

Tue, 09/11/2012 - 02:55 | Link to Comment James
James's picture

Back in the day Mopar products like the Roadrunner, Super bees muscle cars came w/a full warranty.

My friends who had them would bust them up on weekends at the dragways and in the shop on Mondays-Full warranty.

It was like they were glad to see you

Sun, 09/16/2012 - 18:11 | Link to Comment RockyRacoon
RockyRacoon's picture

The only problem with that was the numbers no longer matched.   When the engine/transmission/differential was another number from the chassis you knew that the car had been ragged on.

Mon, 09/10/2012 - 21:13 | Link to Comment Ima anal sphincter
Ima anal sphincter's picture

I've got a 1960 body with a shitload of miles on it. The motor is slowing down a little bit. Lights, not as bright. Paint job fading and convertible top wearing thin. Sometimes the exhaust gets plugged up too.

But, but, but.......the stick-shift still kicks it into gear when needed.

Life is good!!!!!!

Mon, 09/10/2012 - 22:13 | Link to Comment outofhere
outofhere's picture

Ima LMAO.  My convertible top is now a moon roof!

Mon, 09/10/2012 - 22:22 | Link to Comment Ima anal sphincter
Ima anal sphincter's picture

I still burn some alcohol in it every once in a while. It sure makes it feel good when I load up the tank. Serious sputtering the following morning though.

I was running it on some pretty strange nitro smoke back in the late 70's. Now THAT was some good driving.

Mon, 09/10/2012 - 21:40 | Link to Comment outofhere
outofhere's picture

Tried to post a pic but not computer savy.  The car has only been used to tour the USA.  Yes i saw the USA in my Chevrolet.  Bought it in 1972 with 8235 miles on it and the mileage is accurate since i am the second onwer.  It has been parked for the last 12 years since some fool with a cell phone to his ear damn near ran me into a gaurdrail.  Just part of my retirement plan now, can you blame me? 

Mon, 09/10/2012 - 21:48 | Link to Comment outofhere
outofhere's picture

 That wasn't me that junked ya sup!

 

Tue, 09/11/2012 - 01:56 | Link to Comment OldPhart
OldPhart's picture

My '48 Ford F-3 has a little over 60k on it.  But the speedometer's been broke for 40 years.

Mon, 09/10/2012 - 20:28 | Link to Comment pamriallc
pamriallc's picture

Morpheus: 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.

Probably the best movie Keanu Reeves "accidentally" ever starred in....

Mon, 09/10/2012 - 21:55 | Link to Comment zebrasquid
zebrasquid's picture

 

>>Probably the best movie Keanu Reeves "accidentally" ever starred in....<<

Is there even a second best?

Mon, 09/10/2012 - 20:43 | Link to Comment grgy
grgy's picture

Ever since Peter Schiff took National Inflation Association on for their pump and dump program, they have lost any credibility they once had.

Mon, 09/10/2012 - 21:14 | Link to Comment egoist
egoist's picture

"We are our brother's keeper" = debt

 

Mon, 09/10/2012 - 22:05 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

Exactly they want us to pay for everyone elses brother notice how obama's illegal alien aunt lives in subsidized housing for example and he's a multi millionaire.  My thought is this let him redistribute all his money and lead by example and those who want to follow him willingly go ahead.

BARACK OBAMA: NOT HIS BROTHER’S KEEPER

Mon, 09/10/2012 - 21:19 | Link to Comment Haloween1
Haloween1's picture

I like my unemployment check.  And my wife's on disability & that's where I'm headed next.  I haven't pulled a paycheck since 1998, other than the occassional one to get me bridged to the next 99 weeks.   Hah!

You whiners with jobs who can't figure out how to make this work for you are just out of luck, I guess.

 

Mon, 09/10/2012 - 21:19 | Link to Comment Fecklesslackey
Fecklesslackey's picture

Its just a SNAP

Mon, 09/10/2012 - 21:38 | Link to Comment delacroix
delacroix's picture

is your wife interested in a little work, under the table?

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