• Monetary Metals
    05/02/2016 - 01:28
    The price of gold shot up this week, and silver moved proportionally. Headlines are screaming for gold to hit $10,000 or $50,000. Does this alleged new bull market have legs?

Paul Woolley: "The Market Has Become Dangerous For Humanity...It Isn't Reaching Equilibrium, It Is Falling Into Chaos"

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Sun, 08/28/2011 - 12:55 | 1609428 Highrev
Highrev's picture

Yeah, yeah, yeah.

I guess the point is that free markets should now be banned? Or better yet, controlled?


Sun, 08/28/2011 - 13:05 | 1609442 Kayman
Kayman's picture

free markets should now be banned?

You cannot ban that which never existed.  I am all for free markets, but show me a free market PLEASE.

Sun, 08/28/2011 - 13:19 | 1609469 malikai
malikai's picture


Sun, 08/28/2011 - 13:37 | 1609502 Ahmeexnal
Ahmeexnal's picture

He said free market. Not Open Source ponzi.

Sun, 08/28/2011 - 13:51 | 1609533 spiral_eyes
spiral_eyes's picture

i love this market. we're all going to get to watch warren buffett lose a big chunk of shirt off his back. of course it's not enough to hurt the oligarch. but it's enough to hurt his pride. bath tub boy!


Sun, 08/28/2011 - 14:05 | 1609564 DoChenRollingBearing
DoChenRollingBearing's picture

Somehow I do not think The Warren will suffer in any way.  He is a TBTF, a member of the elite and a BIG fundraiser for Obama.  Instead, I think ol' Warren just made a great play that we little investors cannot.

The rich get richer...

Sun, 08/28/2011 - 14:33 | 1609617 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

"Somehow I do not think Joseph Goebbels will suffer in any way. He is a Nazi Officer and one of Hitler's ministers and the Reich will reign for a thousand years."

The evil will continue their evil...

Sun, 08/28/2011 - 16:11 | 1609821 DoChenRollingBearing
DoChenRollingBearing's picture

Well put Tuco.  Maybe there will be a justice of sorts.

Sun, 08/28/2011 - 19:43 | 1610330 Karl Tashjian
Karl Tashjian's picture

Or a justice of shorts...

Sun, 08/28/2011 - 17:40 | 1610015 sun tzu
sun tzu's picture

Hitler was not part of the global financial elite. That is why he lost. Who will defeat the international bankers?

Sun, 08/28/2011 - 18:08 | 1610066 RockyRacoon
RockyRacoon's picture

You are definitely onto something here.   All the capital extraction that could be done had been done so the thing had to be finished.  When the looting got down to extracting the gold from teeth you could pretty much bet that the bottom had been scraped.   Time to move on to the cash cow of rebuilding all that had been destroyed so that the next war could be planned.

Sun, 08/28/2011 - 19:08 | 1610244 Kayman
Kayman's picture

sun tzu

So true, but Hitlers financial chief clearly understood the printing and borrowing game.  When that was not enough to keep the Nazi Ponzi going then theft, plunder, wars and murder followed.

Mon, 08/29/2011 - 00:53 | 1610934 See in the pink
See in the pink's picture

I've long suspected that he was very much a tool of the elite but that he was never meant to succeed...

Mon, 08/29/2011 - 01:19 | 1610965 Bloodstock
Bloodstock's picture

,,,maybe little suffering for now, but in the long run they are doomed. There is no honor among thieves and they will turn on each other.

Sun, 08/28/2011 - 15:08 | 1609686 DeeDeeTwo
DeeDeeTwo's picture

All the Crony Capitalists have broken the law Big Time. A Special Prosecutor would slice and dice Uncle Warren, baby.

Sun, 08/28/2011 - 14:06 | 1609566 JailBank
JailBank's picture

Buffet won't lose a dime. That $5 billion is backstopped by US citizens. You think he would amke that bet without a gurantee from Uncle Sam?

Sun, 08/28/2011 - 14:28 | 1609609 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

A "bath tub boy" nonetheless.

Sun, 08/28/2011 - 14:52 | 1609654 Alpha Monkey
Alpha Monkey's picture

is that like Tub Girl?

Sun, 08/28/2011 - 14:07 | 1609562 Alpha Monkey
Alpha Monkey's picture

Open source ponzi... interesting I hadn't thought of it that way. 

My understanding is to get coins you either 1) Buy them on "the market" or 2) Mine them by running a program on your computer.

Mining, in this case, is the digital labor required to attain new coins.  Buying them is just like any other commodity.

Where does the ponzi come in?

Sun, 08/28/2011 - 18:41 | 1610157 eisley79
eisley79's picture

virtual money is worthless outside of its eco-system unless it can be exchanged for REAL money.

A ponzi scheme makes money for the people already in it, by taking money from new people joining, and paying those already in it (until it saturates, and not enough new people can join and it collapses, leaving the earliest adopters on top, and the last with nothing).

The money paid out for bitcoins ultimately comes from the new people joining the party

Most ponzi schemes are proprietary :), as in those who started it, are the original adopters and the ones who profit the most.  Open source, means developed by the users.  In this case, the motivation to perpetuate resides in everyone sharing in the ponzi'ing :)


So, Open Source Ponzi is pretty clever.

It might be more accurate to call it a "Distributed Ponzi Scheme", or "Peer-2-Peer Ponzi" ROFL

Sun, 08/28/2011 - 18:46 | 1610178 malikai
malikai's picture

Please define 'real money'.

Sun, 08/28/2011 - 19:05 | 1610233 eisley79
eisley79's picture

a store of value that be exchanged for a good or service

Sun, 08/28/2011 - 19:08 | 1610243 eisley79
eisley79's picture

you appear (but i wont assume), to be looking to make some comment that USD isnt real money.  Dont confuse money backed by something, versus fiat, and the meaning of the word REAL.  The USD is REAL money, it gets used every day as money, its VALUE is being depreciated, but as long as people keep agreeing to ascribe SOME value (albeit a shrinking one), it is still REAL money.



Sun, 08/28/2011 - 19:21 | 1610270 malikai
malikai's picture

What makes the USD real? The fact that people use it to exchange it for goods and services, and other forms of money, i.e. EUR, GBP, AU, etc.

What makes BTC real? The fact that people use it to exchange for goods and services, and other forms of money.

The point I'm aiming at is that money is what we make of it.

Sun, 08/28/2011 - 19:36 | 1610316 eisley79
eisley79's picture

well you failed lol.  Bitcoins only exist in their own system, and can be brought back to the real world, by exchanging them for real money.  As i explained to you...


Read my original post, and my answers again, then go sell your bitcoins.



Sun, 08/28/2011 - 19:44 | 1610331 malikai
malikai's picture

I read your original post. Several times.

I'd love to hear a solid argument against bitcoin that can hold water.

I'll continue experimenting with them. I find it worth studying.

If nothing else, at least the geeks are trying.

Sun, 08/28/2011 - 20:11 | 1610357 eisley79
eisley79's picture

my arguments are as strong as the laws of physics, and you are bahgdad bob claiming there are no americans in iraq, with an M1 Abrahams pointing its gun at you in the background.




Mon, 08/29/2011 - 01:37 | 1610994 Mark_BC
Mark_BC's picture

Why not just empower the government to print its own non-backed fiat currency and allow freegold and freesilver to emerge. Peopel will use fiat money for transactions and PM's for storage of wealth. Problem is, any politician that tries this gets assassinated. Isn't that why JFK was shot? He tried to bring in a government issued $100 bill?

Mon, 08/29/2011 - 06:24 | 1611113 malikai
malikai's picture

There we have it. Eilsey cannot come up with a good counter argument, so he/he must resort to ad-hominem. Shame too, I'd really like to hear something better than "you're baghdad bob". Thanks for playing.

As to why John and Bobby Kennedy were shot, I'd say the evidence is purposefully unclear. But it sure is convineant that they had wanted to reverse the real corruption in the mob, unions, and FED.

Mon, 08/29/2011 - 08:03 | 1611179 eisley79
eisley79's picture

my arguments stand on their own, you arent countering them, or even addressing them.  You just then CLAIM you are right still without any evidence, rebuttal or proof

Hence, you are like the former iraqi information minister.  You try to invent the truth just by repeating it, when its obvious you are wrong.

So keep telling yourself "there are no americans in bahgdad" LOL

Mon, 08/29/2011 - 11:18 | 1611296 malikai
malikai's picture

All I've seen is a bunch of ambiguous arguments which can be applied to BTC or USD equally with the exception of a paper (physical form) and a military backing. I'm not claiming anything about BTC. I have seen many arguments towards BTC, so I am truly trying to find solid arguments against BTC. I honestly don't see BTC going too far, but not for the reasons you've stated.

Don't confuse someone genuinely seeking counter arguments as an evangelist.

Sun, 08/28/2011 - 23:49 | 1610826 tip e. canoe
tip e. canoe's picture

"Mine them by running a program on your computer."

does this program do anything useful and/or productive to justify consuming the energy to run it?

Mon, 08/29/2011 - 09:02 | 1611303 malikai
malikai's picture

It sure does. "Mining" is a misnomer term used to describe the cryptographic processes required to create new coins and proccess transactions. When you are a "miner" your benefit to the BTC community is that you are helping to ensure the security of BTC itself as well as processing the transactions which occur.

Sun, 08/28/2011 - 14:15 | 1609571 dwdollar
dwdollar's picture

Bitcoin does have a lot of enemies. I imagine the paid .gov trolls on zerohedge have it on their hit list. You've got to be doing something right when you have that many enemies.

Sun, 08/28/2011 - 18:43 | 1610170 eisley79
eisley79's picture

your enemy are the MI6 and CIA agents who run WikiLeaks and LulzSec, and dope n00bs into joining to take the fall as patsy, and who made you think bitcoins are cool, and those leakers/hackers are really sticking it the MAN, man.

Take the Red Pill, foo

Sun, 08/28/2011 - 14:26 | 1609602 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

I had no idea that Bitcoin used the "Social Security" business model!?

Sun, 08/28/2011 - 18:17 | 1609606 gangland
gangland's picture


impossible, no such thing as a "free market", oxymoron, a tautological fallacy if ever there was one.

Mon, 08/29/2011 - 01:42 | 1610999 Mark_BC
Mark_BC's picture

Free markets are unicorns; they exist only in our minds, just like one handed claps, dry watrfalls, and sustainable economic growth. Anytime you get anything resembling true unregulated "freedom" in a market, the first big bully to come along will take advantage of its "freeness" and soon turn it into a rigged market for its own advantage. The benefits of "free" markets must be carefully regulated or you will quickly lose them. A better term is "fair market". Free markets are not fair and fair markets are not free.

Sun, 08/28/2011 - 14:58 | 1609663 Freddie
Freddie's picture


Obam and Bill Ayres with Piven/Clovard talked about how they would wreck economies and countries.  Make banks lend money to people who have no hope of paying it back, pass laws that punish them and make productive people pay for it.

Sun, 08/28/2011 - 16:44 | 1609895 disabledvet
disabledvet's picture

Unfortunately for them George Bush beat them to it by eight years. In fact he may have been the first President in history to get Wall Street to agree that destroying itself was in its best interests. Statements like the above only serve to enrage "the beast"--and look! THEY'RE WILDING! Heaven's to Betsy! What will the government do to save us! OH NO! They're gonna make it WORSE!

Sun, 08/28/2011 - 17:43 | 1610024 sun tzu
sun tzu's picture

0bama is Bush on steroids. To make it worse, the media turns a blind eye to everything he does. 

Mon, 08/29/2011 - 01:32 | 1610983 hardcleareye
hardcleareye's picture

Concur, but I do miss the W stupid talk, ...  Obama is a snake in the grass... 

Sun, 08/28/2011 - 13:58 | 1609551 Jack Burton
Jack Burton's picture

Bitcoin was just robbed. Way too easy to be hacked and looted. Bitcoin is like a foolish tourist in Paris, he will be pickpocketed in no time flat.

Ask some Bitcoin owners how it feels to be looted.

Sun, 08/28/2011 - 14:05 | 1609563 smore
smore's picture

Very profitable ponzi if you got in early and got out before the SHTF, though.


Sun, 08/28/2011 - 14:29 | 1609612 aminorex
aminorex's picture

And as we all know, U.S. Dollars have never been stolen.  Much less gold.  I regard the fact that someone is willing to risk prison to gain something as a fair proof of its value.

Sun, 08/28/2011 - 17:39 | 1610009 Mad Cow
Mad Cow's picture

I also heard people having their accounts hacked in virtual economies within online games. I'm sure it sucks, but that's reality? Fantasy coins backed by the full faith and credit of fantasists and electricity! Dig a fake ditch and fill it back in! Have we hit peak insanity yet?

Sun, 08/28/2011 - 18:47 | 1610180 eisley79
eisley79's picture

Anyone who thinks Bitcoins are cool, or not a ponzi, are

1.) 25 or younger

2.) In debt

3.) own no Gold, but have some old nickels and dimes with silver in them

4.) has been to collegehumor.com in the last 3 weeks


Shoe fit bitchez?

Sun, 08/28/2011 - 19:37 | 1610317 malikai
malikai's picture

Nope. Nope. Own plenty. Nope.

Sun, 08/28/2011 - 19:55 | 1610350 eisley79
eisley79's picture

you mad cinderella? :D

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