As Negative Gold Lease Rates Collapse, The Gold Sell Off Is Likely Coming To An End
One of the more curious dynamics for those who follow the gold market closely, has been the relentless grind lower (or higher if looked at on an absolute value basis), of gold lease rates (defined as Libor - GOFO), which recently hit all time record lows (i.e., negative), for the 1 month version, although the more traditional 3 Month (as it is based on the benchmark 3M USD Libor) was also quite close to breaching historic low levels. And while we have discussed the nuances of Libor-GOFO, or the gold lease rate extensively before, a good summary was presented by Jesse's Cafe Americain yesterday, who correctly suggested that record lease rates are a primary driver for the near historic sell off we experienced yesterday. In a nutshell, negative lease rates mean one has to pay for the "privilege" of lending out one's gold as collateral - a prima facie collateral crunch. The lower the lease rate, the greater the use of gold as a source of liquidity - and since the indicator is public - it is all too easy for entities that do have liquidity to game the spread and force sell offs by those who are telegraphing they are in dire straits and will sell their gold at any price if forced, to prevent a liquidity collapse. Said otherwise: to force a firesale. Well, we are happy to announce that the selloff spring clip potential that is embedded in a near record negative lease rate has now been discharged courtesy of the $100 dump in the past two days, which may have happened for a plethora of reasons and nobody can tell why precisely, but one thing is now sure: the underlying tension in the supply and demand for gold as a source of liquidity has collapsed. That said, the next time we approach the previous thresholds we will advise readers as it will likely indicate another gold-derived liquidity rubberband "breach" is imminent.
3 Month LIBOR - GOFO
And Long-Term LIBOR - GOFO:
Charts: Bloomberg
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pssshhhhht! don't tell Roubini!
Nouriel (and Naill) have obviously been "talked to" about the folly of their previous positions. Two particularly disturbing sell-outs....
The fundamental factors for a skyrocketing gold price are unchanged, worse in fact. The truly stratospheric rise will happen at some point, but not until physical is priced by it's own market, free from the ETF puppet show. The problem is that none of the current power brokers in the PM markets want to let physical run wild. It will be interesting to see how this all transpires...
I suspect they just want to beat the price down at year end.
Can't have too many positive years when stock markets are going nowhere, but side ways and down...
Gold is bearing down on the long term rising lower channel at 1160ish which well probably occur at the same time SPY slices down into the 900ish area. I don't expect gold to stay cheap for more then a few minutes at that lower channel line so a fast trigger finger will be key.
The central banksters cannot QE if they don't get the price of gold under control. They very well understand that if gold goes on another rocket ride like 2008-2009, their monopoly over money is game over. So right now, what we're seeing is those central banksters trying to set the ground for another round of QE, and they need gold to be unpopular to do that.
They are already QEing. Twist is QE Hidden
Gold is merely doing it's master's bidding in the GOD complex (Gold/Oil/Dollar).
The three HAVE to be seen together, their current individual standing as to price is meaningless.
ORI
/the-plan/
A question for the board:
Do any here have any experience with Provident Metals ? If so, how does this outfit compare with Apmex ?
I have bought silver from Provident but not Apmex so I can’t make a fair comparison. I like Provident, in fact, I just recommended them to someone this morning. I haven’t bought from them recently because I discovered a local coin shop and have become a regular there.
do we really want to be long PM's when the debt and equity markets are probably going to go into carnage mode?
i bought a small amount of silver from Provident, no problems
I've bought quite a bit from APMEX - smooth transactions with quick and discrete delivery. I probably could have saved a dollar or two by shopping around, but now that APMEX has a track record with me, I prefer to stick with them.
My dealer of choice has been gainsville. bought about 10 seperate times and no issues. I have purchased from quality silver bullion and Provident. No issues with any of them. Never used APMEX as their premiums are too high. I also didn't like the add on charges during checkout. Gainsville has good bar prices. Provident had the lowest 90% junk silver.
Best deal in town though is either a coin show or local dealer. I usually save over $100 in price differential by buying at the coin show instead of online
Goldshark.com will provide comparision shopping for about 10 different dealers
I was going to post this link until I saw that you had already done so. Very funny stuff.
The time is coming when gold will be much cheaper than it is even today, paper gold that is. At the same time, you will not able to find any physical gold available at any price.
CNBS will still be writing about how gold has been such a bad investment.
Always nice to see contrary indicators like this. Was wondering when to start scaling into this recent POG downturn. This gives me the confidence to start pulling the trigger.
I had a very nasty problem with Gainesville and decided to never buy from them again. They "lost" my silver shipment and said that I had "signed" for it. It took them about a day to figure out the problem, when I told them I hadn't received the silver.
Apparently, someone at USPS had the nerve to sign for MY silver. Go figure.
But I was on pins and needles (as you can imagine) when they told me that I had signed for a silver shipment I never received.
The owner of the company was rude, and that was the clincher.
Now I do business elsewhere and am much happier.
I had a very nasty problem with Gainesville and decided to never buy from them again. They "lost" my silver shipment and said that I had "signed" for it. It took them about a day to figure out the problem, when I told them I hadn't received the silver.
Apparently, someone at USPS had the nerve to sign for MY silver. Go figure.
But I was on pins and needles (as you can imagine) when they told me that I had signed for a silver shipment I never received.
The owner of the company was rude, and that was the clincher.
Now I do business elsewhere and am much happier.
ECB has already started its QE, but thing is people do not want to acknowledge it as QE. That 3 yr unlimited credit easeing is a one giantic quantitative easeing. I guess people got stuck with unlimited funding, secondary market activity for sovereigns that they do not see how ECB is directing the local banks to fund their own sovereigns through this 3 yr unlmited funding. To make it easier, they even announced that they will accept a wide range of credits at NCBs (i.e. corporate loans, retail loans, etc.)
Further,
for thos technical chart experts,
just reverse the gold chart and tell me if it is not a perfect head & shoulder?
"The central banksters cannot QE if they don't get the price of gold under control. They very well understand that if gold goes on another rocket ride like 2008-2009, their monopoly over money is game over. So right now, what we're seeing is those central banksters trying to set the ground for another round of QE, and they need gold to be unpopular to do that."
I was thinking the same thing. Could be some printing coming soon.
The CNBC rumor mill is full blast now. Thrashing gold. That means the sell off is bottoming. We will see.
look...what has occurred should be mostly obvious.
European banks are in immense dollar liquidity stress. Look at the EUR or DXY. They have leased to sellers or sold outright against the dollar POG in order to raise dollars. The collapse of lease rate is indicative of high interest by lessors, aka holders.
BB is holding the ECB hostage here. Either they print or the fact that most of their debt is in USD destroys them. Period. Win/win.
Bear in mind that BANKS and hedge funds, even those physically holding client assets which may be physical gold bars, WILL sell anything they can for paper liquidity to stay alive. To THEM, "cash is king" because those accounting figures are the difference between being employed and operating and not.
MFG's experience with rehypothecation and comingling are proof positive...you think MFG is the ONLY entity that did this? LOL. They are in the paper/eDollar world. THAT is their god. If you have an account with them and you want to hold physical gold, THEY do not care. They will lease, rehypothecate, sell, what you own, even ILLEGALLY, to keep themselves alive. This has happened again and again and again and we remain just SHOCKED that there is gambling going on in this establishment!
That is a very short term view, and whilst I agree with it it is nothing more than what happened in the run up to Weimar.
The problem is that as more of this debt is liquidated there is less and less need for USD, and when the world realises this and begins to offload it, look out below.
That's where it all goes wrong.
Buy gold. It's the only way to be sure...
The problem is that as more of this debt is liquidated there is less and less need for USD, and when the world realises this and begins to offload it, look out below.
It'll be a while.
maybe, but it will still happen nonetheless...
'Liquidating' or repaying dollar-debt extinguishes dollars. The result is a dollar shortage. This is what is taking place right now, leaves out the desire of those who hold non-currency assets to convert at whatever rate into currency.
With non-currency assets 100x the level of currency, the question is whether the monetary authorities are able -- or willing -- to keep up with the rate of deleveraging. Since 2007 until earlier this year, the answer has been yes, but with the fiscal 'authorities' meddling in monetary policy, the ability of central banks to meet the rate of redemption is now questionable.
The consequence is negative lease rates for a lot of things besides gold: real estate, wages, derivatives ... anything that isn't currency.
I personally believe monetary meddling is bad policy because there is no gain to it. Deleveraging is necessary but the same fiscal authorities who refuse to widen money access also refuse to engage in creditor restructuring. Chaotic deleveraging means all assets are wiped out in excess of base money, excess indebtedness is charged against output (GDP) and the result is a throwing out of the economic good ... with the bad.
Well said. Perspicuous. Maybe even clear enough that the hyper-inflationists can understand. The magnitude of the deleveraging will overwhelm the attempts of the CBs to print their way out. Once we've extinguished enough of the debt, then the danger of hyperinflation will be real.
right but with ZIRPfinity, getting dollars ain't all that hard for the blessed - this is more than manipulated, it has been designed and modeled in all those megapetaflop supercomputers.
The huge amounts circling above can't be affected by the serfs resources. The puppet show is in full effect
the negative lease rate is a tell. why buy, when you get paid to lease. it's a paper lease. I believe the physical gold stays where it is, and the only thing changing hands, is a paper contract. just another layer of leveraged shorting.
Aside from this paragraph:
'BB is holding the ECB hostage here. Either they print or the fact that most of their debt is in USD destroys them. Period. Win/win.'
Your post makes sense. ECB answers firstly to the Bundesbank secondly to the CB cabal. 'BB' is powerless when it comes to understanding European dynamics because he , like you, sees everything through the lens of market fundamentalism which is pure dogma.
You should probably wait for facts to slowly emerge before tying the known to the unknown.
Define "market fundamentalism" in your sentence?!? I hope you don't mean "keynesian economectrics and mathematical abstract models"?
In this context it means interpreting European socio-econo-political affairs by way of using US neo-liberal metrics. The EU = US formula doesn't work.
For the most part US media (MSM and otherwise) covers Europe only in the superficial context of 'what this means for us here'. They provide no historical context or broader view.
eh! +1000
I would put it in other terms: the ECB is following a different consensus while the FED still has more room for maneuver - or even simpler, the ECB can only print a fraction of what BB can, period. For the usual reasons of not being a reserve currency, etc. BB leads.
OT: thanks for the endorsement of the Kyle Bass letters, just got though the last two and I agree with you, it's worthwhile to read them, even if I don't agree on all his points (perhaps "yet")
Sums it up nicely.
The problem as I see it is that CB's or some official entity is leasing gold to be sold into the market place for liquidity reasons. Some might argue this is for price suppression purposes while others would argue it is to generate liquidity from an asset during a liquidity crunch. Obviously whomever is doing the leasing and selling this gold into the market has to be buying futures as an offsetting hedge, at least that is what I would think they'd do.
This doesn't resolve the problem of actually paying back the gold however. The gold that is sold into the market is not going to be recovered at anywhere near these prices plus this gold now has thousands of individual owners, so how are the gold leasors going to get gold, stand for delivery? At the comex? See the problem here? They are going to have to get REAL gold in bulk to payback the CB's or whomever. How much gold has been sold into the market from leased gold over the years? How much will it cost to get this gold back, assuming it is available, and how does this assist the leasor in anyway if they lose their ass in this transaction because the paper market has separated from the physical one? Do these folks really believe that just because they bought a future that it will always convert to physical? Don't they realize there is a finite amount of physical ANYTHING in this world and an infinite amount of claims that can be generated against that physical? I can't wait to hear the excuses when this ponzi blows up. Smartest guys in the room, my ass.
Paging Robert Rubin and Larry Summers...all your chickens are coming home to roost
If anyone is interested in reading ACCURATE commentary on why gold lease rates went negative, I suggest you take a look at the following link:
http://www.metalaugmentor.com/analysis/charlatan-exposed-negative-gold-l...
Max Fischer, Civis Mundi
Tom is a smart guy but the article is still speculative. Taking it at face value the unallocated LBMA system would seem to be highly leveraged, central bank leasing utilising LBMA unallocated is leveraging it further, indeed leasing gold against assets too illiquid to even borrow dollars is destroying the balance sheet of the central bank, a la Asian Financial Crisis.
The central bank can lease unallocated gold 'off balance sheet' in limitless quantity but limitless quantity is no quality at all. Something will give one day, the balance sheet of central banks has been ruined even without the gold leasing.
From Ed Steer today:
Silver analyst Ted Butler had a longish mid-week commentary for his clients yesterday....
"What I didn’t explain in my weekend commentary on Saturday was that the next logical downside trigger point in gold for selling by the technical funds and traders was the 200 day moving average ($1610). This particular moving average had not been broken in gold for almost three years, back to when gold was under $900. The longer a moving average remains unbroken, the more significance it holds to technical traders. This level has now been broken as well, encouraging those holding gold on technical or price movement grounds to sell. This selling begets other selling as fear of further losses resonates through the market as prices plunge. The price declines step up demands for more margin, prompting further long liquidation.
"Given human nature and our collective demand for easy to understand explanations for why prices are falling there will be, for sure, all manner of supply/demand explanations given to justify the price rout. But there have been scant signals from the real world of supply and demand to account for the decline in gold and silver prices. At the core, this is strictly another COMEX-commercial rig job. That it has been highly successful for the commercial crooks is unfortunate in many ways, but encouraging in other ways. The proof that it is another COMEX rig job is fairly easy to demonstrate in past and future Commitment of Traders Reports (COT), as the commercials are always big buyers on these price smashes. We have only gone down in price so that the commercial could buy. It’s not possible that the commercials can always be big buyers on such declines for any other plausible explanation. That the CFTC sits by, even though it has been armed with ne w anti-manipulative regulations is as shameful as it gets."
This accusation has gone viral within the gold community. It is based on a court filing by HSBC and surrounds the ownership of gold bullion held by a trustee for a client of MF Global. The speculation is that the gold had been re-hypothecated, resulting in a question of who is entitled to ownership.
But after digging into this story, reality is not quite as provocative as many have claimed. Here is a link to the actual Interpleader Complaint filed with the New York court.
Scroll down to section four where the sequence of events is spelled out. It is really straightforward stuff.
Bottom line: No gold has been hypothecated, re-hypothecated, or hyper-hypothecated. The dispute is between the trustee of the gold and the claimed owner of the gold. As is not uncommon in this sort of situation, as custodian of the bullion HSBC is stuck in the middle and is asking the court to decide to whom to release the gold so that it – HSBC – is not held liable by either party.
That MF Global is in bankruptcy and the case is filed with the bankruptcy court seems to be the bigger issue here. When a company enters bankruptcy protection, all decisions concerning how money or assets will be released or disposed of are made by the court, and it can be a lengthy procedure. That seems to be the case here, and in time the gold will make its way into the legally sanctioned hands.
RR: That was my take on the matter too. ~Thisson
I stopped reading at the "gold is a source of liquidity" line. Hold it if you are unnaturally attached to it I guess.
well the real story on gold is far from this http://www.traddr.com/profiles/blogs/precious-metals-equities-and-crude-oil-long-term-outlook
why is it when gold went up it wasn't manipulation?
For his next dumb question, Trav will ask "Why doesn't gravity work on airplanes?"
Question is 'who is there to manipulate it up, and what is the benefit?'
Gold just needs to find its fair price. That's all people are asking for I believe...
You're kidding right? Trying to squeeze intelligence from a Grand Wizard.. this is obviously the Negroes fault like everything else to trav
everything does have a black market
His house is always the easiest tofind especially at night with all the burning crosses & empty plastic 1.75l generic Bourbon bottles on the lawn.
you idiots amaze me
you think the MSM is telling you the truth? I state a FACT and you accuse me of hate. That is why we call these "hate facts."
You people are delusional and dangerous.
You have no idea how amusing I find all of you, in that you think you're outside the matrix because you can see the financial con and the larger society cannot, but there are levels of truth you are simply UNWILLING to even approach. And you fight to stay IN the Matrix.
Doesn't it occur to you that almost all of the orthodoxy you encounter every single fucking day is propaganda?
The media also says the sky is blue. Must be a lie!
lol, Trav thinks he's Neo. Or maybe he's MORPHEUS! LOL.
Hit him with your Matrix school satchel mosley, batter that dirty rascist.
good example...you can test whether they are lying by doing investigation into the facts.
You refuse to do that with things you WANT to believe. You just accept.
Yet you just "accept" the "fact" that black IQs are low with no further investigation necessary. No need to examine the methodology. No need to repeat the experiments. Nothing.
You just accept.
1. Hear what you want to hear.
2. Know only what you heard.
3. ???
4. Racially pure world!
um, what?
I examine the DATA for and against. You do not. You ignore it.
The experiments have been repeated several HUNDRED times and have all shown the same thing.
But, no, the MSM and libtard message of equality is correct. SURELY this must be the case, right? It just HAS TO BE.
Just like the economy HAS to get better and we just HAVE to find a way to pump more oil. Right?
You idiot.
Whatever helps you sleep (alone) at night.
Trav, you are nothing but a bitter, hateful, racist piece of absolute shit, using dubious or irrelevant facts to buttress your massive hate and ignorant racial prejudice. I have often wondered, in fact, if you might not be a Sunstein-inspired troll sent here to spread your racist hate in the attempt to discredit this site.
Even IF blacks, say, were collectively less intelligent that whites, so fucking what? What does that mean for real-world policy? What do you propose we do in response to that "fact"? Let's just euthanize them? The fact that you constantly harp on such data (assuming that it IS honest data) implies that you are proposing some public or governmental response to your stupid-nigger theory; otherwise, such data is meaningless. So what are your policy proposals in light of the stupid niggers? You clearly must have some such public or social responses in mind --- and if you do not, them shut the fuck up about it.
I, unlike you, am not a collectivist, and neither judge nor dare prescribe public policies based on (possible) group characteristics, choosing instead to deal with people as individuals. If blacks commit more murders than whites, then the justice system will handle that situation by dealing with them individually AS each commits a crime --- the statistics of their murder rate are irrelevant. And as for possible lesser intelligence of one group compared to another, I cannot imagine why anyone would obsess over such data unless they had the sort of collectivist goals of such upstanding visionaries as the Nazis or the Khmer Rouge.
You're assuming I read illiterate psychotic ramblings written by racists with penis envy. Congratulations on proving your immense stupidity yet again. Like you can do anything else anyway. At least Robo is funny.
It's harder to notice without the use of the words doomers and goons.
you're replying to someone you claim is one...check
you are a monkey with cymbals; I twist the key
... er ... you are responding to 1983174 don't cha' know. - Ned
I am interested in your answer. Who do you think benefits from manipulating PMs up?
Because it's not a market, and central banks have immense powers to suppress PM prices, the only people who can MAKE PM prices rise are the central bankers themselves. PMs just rose @20% a year for a decade, even during the housing bubble. Does anyone believe the gold bugs accomplished this? Does anyone think it went unnoticed BY CENTRAL BANKS? The reason there wasn't a 1980 style smack down was because they were the one's buying.
Anyone who has them would benefit. There are a wide range of parties who could benefit.
Look, understand petitio principii...don't rush into a QUESTION already having assumed the answer.
Coming from a peak oil quaker saying we are all goin to starve tomorrow, you are equally as amusing.
we're delusional, dangerous AND derogatory. We just spread the insults across all skin colors.
You burned too many bridges brah. There are plenty of poor good black and brown folk out there. They are your brothers and sisters. Go out and know them and help them. Come back and I'm sure many here would forgive you. I would.
blacks have lower IQ than whites on average.
Do you REALLY hear "I hate blacks" when I write this? Honest question...
When you call black looting "looting", but call white and asian looting "doing what is necessary", your true nature is revealed.
Further, your refusal to take culture and the degree of government oppression/coddling into account when examining differences between races renders your entire argument moot. You say "look at Africa, look at Africa", but you never look at Southeast Asia or Maoist China to see how far they sank under oppressive regimes, nor did you care to think about the effect that would have on mental processes if it were to continue for multiple generations. You refuse to examine the effects of coddling of Indians on reservations in America, versus those who are not coddled in South America (but still oppressed).
You didn't answer the question. You think you can put up strawmen like this "looting" shit, but that's not going to work. People notice everytime you do that, moron. And you just look foolish.
I never said white looting wasn't looting...don't put words in my mouth, cunt.
Culture comes from PEOPLE. It doesn't fall out of the sky.
Southeast Asia...you mean the place where Katrina didn't happen after a fuckin tsunami that killed 10,000x the number of people?
Coddled but still oppressed? ROTFL...based on WHAT? You slipped in a petitio principii again...that's all you seem to be capable of. You have ASSUMED the conclusion before you state the thesis and you make a nice circular argument.
The injuns didn't have the written word or wheel when whitey arrived. WHY IN THE HELL would you expect them to just GRASP that which they DID NOT grasp? Same with africans. They are collectively operating at the level they're capable of, expressing a culture in the aggregate which reflects their collective attributes.
Injuns in the US and injuns in S. America...wtf is the difference? In both places, they are near the bottom of the socioeconomic ladder. This is a simple fact.
Again, you DID NOT answer the question. In fact, you seem to CONCEDE it and then start going into possible THEORIES as to why it could be true. Of course, they all ignore natural causes.
Uhh, yeah, you did. You said specifically that the Japanese didn't loot after the tsunami. But they did. It is well documented. This is not a strawman, it is documentation of your double standards.
How can people be both coddled and opressed, you ask? Ever hear of COMMUNISM? Get free shit from government, get beaten and murdered if you speak up.
Indians DID have the written word, you fucking idiot. I guess Aztec and Maya pictographs don't exist in your little world. They didn't have the wheel because there were no beasts of burden in the New World. I guess next you will look down on them for not having developed the saddle.
lol, you think indians don't make up the entire population of Mexico. They don't exactly look like blond haired blue eyed Spanish, or even Moors.
But I don't know why I bother responding. Your venom proves my point for me. You HATE based on RACE. You are incapable of judging people based on their individual character. You scream and cry about genetics and DNA and inherent differences while at the same time knowing NOTHING about ANY of it.
pictographs aren't the written word.
Japanese looting after the tsunami...LOL. Yeah, they were carrying fuckin TVs down mainstreet and filmed inside wall mart emptying out the place with several uniformed police officers. WTF, man...do you ever just step back and look at how stupid the shit you say is?
The rulers in latin america are whiter and blonder...the lower classes are browner. This is even true in Africa. There is so much in evolutionary biology that is a mental 3rd rail for people like you and it's packin a lotta amps.
Best to just keep chanting your mantra.
Dunno wtf any of this has to do with individuals, but that was a nonsequitur...and I told your stupid ass that a general statement is not a specific one. Just STFU already, moron.
Hmmm, better call up the Egyptians then and give them a downgrade. Serves them right, since they are a buch of Africans anyways, right?
But what of the exaulted Chinese, who's written language is no more than stylized pictographs? Perhaps I should downgrade them as well.
Yes, the Japs didn't loot Walmart, maybe because they don't have Walmart in Japan? Hmm. But they do have breweries. And ATM machines. Let's see how they did: http://online.wsj.com/article/SB1000142405274870341060457621629302464415...
But hey, I'll tell you what. You love Asians so much, and think they are so superior, I will gladly buy you a one way ticket to Myanmar. You can go and live in the glory of your Asian overlords forever!
yeah, read: "Most of the looting incidents appear to target necessities in tight supply after the disaster, such as food and gasoline, rather than durable goods" unlike Katrina or LA. You know, where blacks were taking TVs and merchandise and apparel and shit.
Don't even try to compare the two, you fucking retard. You just make yourself look even stupider.
And Egypt had heiroglyphs too...so? That was 5000 years ago. And, no, Egyptians were not black.
Why don't you buy yourself a one-way ticket to an asylum before you lose anyone else half their life's savings?
Right, I didn't realize that beer and ATM cash were necessities. I'll keep that in mind.
The Mayans developed writing two thousand years ago, completely independently of the Old World.
And yes, the Upper Egyptians were black, dumbass.
"egyptians were not black" - a perfect example of yet another oversimplification of humans, "race," and intelligence
http://www.catchpenny.org/race.html
IQ is a faulty measure of intellectual capability at best. There are so many variables that affect scoring in schools and on standardized tests that there results are not indicative of actual intelligence.
non sequitur.
And wrong at any rate.
This is what you morons can't escape...that average test results ARE probative, strongly so, of socioeconomic outcome of a society. There's no way around that.
Although i in general don't like you trav, i do agree with you on race and culture. Who are the fastest humans at the Olympics? Blacks. It is a characteristic of their race. Races have characteristics, and to deny this is to fall victim to policy. The thing i've learned traveling, is that culture is everything. How a people react to bad situations is a function of culture. Look at the Orange Revolution in Ukraine a few years ago. It was a freaking fashion show....orange neckties, orange scarves....an extremely non-aggressive, non-confrontational culture, overthrowing their government.
You are basing IQ, created by whitey, for whitey, as being the measure of intelligence for everyone, including whitey. This makes you unobservant, xenophobic, and rigid. You don't speak of smarts, creativity, learning, common sense or other measures of actual intelligence. Perhaps you don't recognize them. You seem to believe things that can't be proven, or were created with the goal to overturn a fact proven by science. You seem to have grown/learned with a bias that few here understand. Don't expect hate speech to be understood, for some of us don't share your bent.
then why do asians outscore whitey, you fucking IDIOT?
Look, moron...people LIKE white societies. They LIKE the shit white people come up with. They LIKE and WANT our version of civilization.
So even IF IQ was tailor-made for whitey, it doesn't matter...it's a PERFECT indicator at that point of SUCCESS because when cultures COMPETE, the favorable one WINS! Blacks don't like black culture either! They LIKE being OPPRESSED with refrigeration, modern medicine, and electric power.
You dipshits are in such deep water here, you cannot even fathom it.
Blacks aren't any good at any of the rest of that shit either. They didn't "create" the wheel or "learn" the math, or "common sense" that you can't cure AIDS by raping a virgin.
There's a fucking REASON their culture is a failure and NOBODY wants to live like they do, ok? Evolution is law, bud...there's no way around that. I'll stand behind the geneticists and pscyhometricists and the forensic anthropologists, the biologists, and all the rest of the scientific community.
You can stand with the MSM and the SPLC. I'd like to know what science you speak of...because all of the science goes AGAINST what you say. JFC, we already went over this crap last week.
yeah, whitey hates everything black "culture" puts out, therefore, black culture has "failed." Funny. On that note, if the banker is a whitey then an important part of whitey's "culture" is a failure too no? Or, if whitey runs the place cause whitey is smarter and whitey is too dumb to plan for peak oil then whitey failed another test too didn't he?. Or if whitey runs world agriculture...well I'd go on but I think whitey has scored pretty low in a lot of categories and a lot of lab tests. You can claim they're just brilliant criminals but the success of their systems, like IQ, is a valid way to, as you say "measure something."
That makes one of us. Once a squid always a squid, once a Klansman always a Klansman. Not everybody gets salvation.
Doesn't it occur to you that almost all of the orthodoxy you encounter every single fucking day is propaganda?
Yes it does. That being said why do you list a few more examples aside from race / financial news where you see propaganda. Enlighten us.
here's an easy signpost for you, look for my writing on here that has the most red arrows
I hear the same intelligence measurement works for bailouts, immunity and Patriot Acts
petitio principii
It was a rhetorical question, you moron. If you see me asking the likes of you people a question, you can safely assume I already know the fucking answer.
ZH is just another matrix
lol, you don't like the answer, so now it is a rhetorical question.
You are the biggest goober in the internet.
huh? You don't know what petitio principii even is, do you?
Every fucking day metals DON'T go up, you idiots bleat about manipulation. You have ASSUMED the conclusion!
You are an idiot. You assume that a vector force only exists when it is in the same direction as the net force. This is the same as claiming that gravity only works on a plane when it is coming down, not when it is going up. The gravity was ALWAYS THERE, you fucking idiot.
what.tha.fuck.
Dude, is it possible for you to even be COHERENT?
To use the airplane analogy, LIFT manipulates it upward in opposition to gravity. The analogy isn't even any good.
You cannot ASSUME manipulation, RETARD...do you even fucking GRASP what petitio principii IS? Yes, that was another rhetorical question...