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Peter Schiff Explains What Today's Global Fed-Funded Bailout Means For The Future
If anyone is still confused by what has transpired today, here is Peter Schiff explaining in simple words, why what happened "may be one of the most important economic events of the year" and what to do next: "Today’s unprecedented announcement by the world’s most powerful central banks was a loud and clear bell ringing to buy precious metals. The move, disguised as an attempt to help the fragile state of the global economy, is in reality a move to prop up failing banks in Europe and the US. By reducing interest rates paid for dollar swaps, central bankers are in effect increasing the quantity of global dollars in circulation. The result? The dollar will weaken, inflation will rise, and gold will soar. Gold was up more than $30 today, and the dollar got crushed. I urge you to take 7 minutes to watch the video I recorded exclusively for my subscribers a few hours ago. It explains, in plain language, what happened today – and what is the likely outcome for your portfolio. This may be one of the most important economic events of the year." And pardon Schiff's self-promotional piece at the end, but the truth is that he is essentially correct about what the actions means from a big picture perspective. Furthermore, as Goldman made all too clear, this is merely the beginning as more and more inflationary actions have to be undertaken by central banks to save banks from being crushed by untenable debt loads. Whether they succeed in overturning the deflationary tsunami is unknown. What is certain is that they will bring fiat currencies to the verge of viability (and beyond) in trying.
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it's ringing xmas bells
Everyone loves a santa rally.
He also is a huge advocate of the miners and so far he owes me 10k thanks to that.
Miners have been a tough sale. Lets call it miners butthurt syndrome (MBS), many of us have been fisted in search of the grail.
Well there's not much time left in this year so he's not leaving himself once wiggle room on this call. Second "it came with a video" and has now possessed us:
http://www.youtube.com/watch?v=CnU2Ld1ttoE&feature=player_detailpage
don't phuck with The Sphinxer, man. Right up there with "never get out of the boat."
Silver should already be north of $50......Cant manipulate and hold it back much longer
Uh huh, how long have I been hearing that one...
I'm so worn out, but I keep buying the dips. I believe in the story, but the manipulated price action is more than most people can handle. I think I could handle not owning any PM's even less in this world we live in.
It's just the price action that's worn me out. I started accumulating a couple of years ago. But to see silver go from 18-50 nearly unabated and then bottom trolling around 30 for 7 months while the global financial system circles the drain is a little depressing. Even today for instance was a disappointing underperformance. But yeah, no worries. I'm on the train.
I took a few months off from reading or trading this summer to get our land in top shape. Did wonder's for me personally. Just a thought...........
Don't give up.
Yup..
As the awakening continues, "investment" demand rises. As war and population increases, usage increases, readily available supply drops, shortages abound. TPTB can play all they want, but it'll eventually come down to what the strong hands that hold it are willing to let it go for.
I continue to stack when I can, and stack lead, rice, beans etc...once a week. I may be new to the game, but at least I've now got season tickets...
thanks ZH.
ps.. If anyone is new here, go to youtoob and watch "The Secret of Oz"
great piece.
Fellas, the Mrs. made a nice bean soup tonight. We eat it with a bowl of sticky rice on the side. A litle ground pork in the pot to add some brain satisfaction. PMs are nice, but food must not be ignored either. Spend $3000 and get a bunch of cases of freeze-dried lifesavers.
Why not? It's a fair question.
It is a fair question, and it has a simple answer: Silver can only be manipulated through paper trading until physical demand exceeds available supply. Silver has three basic categories of demand: jewelry, industrial uses, and investment (bullion). At the rate that industrial demand has been rising, industrial applications will consume ALL of mined supply by 2015, which is not very far away.
Needless to say, jewelry and investment demand will not just roll over and play dead to industry, so the silver supply/demand model breaks well before 2015.
Thank you.
Only 1 or 2 billion ounces of silver bullion available worldwide. That is just $65 billion max. Banksters have unlimited money and they can move silver at their whim. Today's silver rally appeared to be capped most of the day today.
SLW, a silver producer, was up more than twice what silver was up today.
I'm surprised nobody here is wondering how much more ammo JPM got outta this thing to keep naked shorting silver on COMEX. Gotta figure they'll slowly increase the position all dirty sneaky like every other thing these fuckers do to keep the price surpressed but fairly stable. Compared to everything else it's not a bad con really but every layer of counterfeit garbage makes the inevitable flameout all the hotter. Unreal they've gotten it to last this long.
the missing MF global metal, will allow jpm, to meet december deliveries
Pretty Fuckin convenient they happened to get that gig.. I wish this whole thing would crash already, so tired of all this shit I don't care about at all.
how much more ammo JPM got outta this thing...
Good call. JPM up 8.44% today. That'll buy a lot of leverage. Kinda like the aig bets placed 7 weeks before 8/08.
TYLER, YOU'RE AN IRON MAN!...And...
MY MAIN MAN...you lay it out, like no other!!
Schiff, like Harry Dent, is usually right on the big picture and lousy on short-term outlooks. Dent is much less annoying to listen to, and has a good list of books that have made (and saved) me a lot of money.
I like Peter's general take on things, but he desperately needs verbal presentation rehab.
While Mortal Kombat is a very good game, I think that Donkey Kong is the best game.
Turok + exploding shotgun shells = meat fountain
Jesus, someone really took hating Dinosaurs to a new level, apparently a big fucking meteorite wasn't enough.
Be great if they made the same game with bankers.
his latest videos have gotten really salesy, the radio show's fine but his last few vids sound like a used car salesman has been coaching him for cable TV ads.
He's lost credibility since he started selling bullion. Even more so when I check his site and they don't list the prices! Funny, all the major bullion dealers list their prices. When a dealer won't list their prices, I think shady practices. I'll never buy bullion from EuroPac.
Spot on Schiff
Schiff had Harry Dent on his show. They agreed with everything right up to the end game. Dent has a Commodity crash and Shiff has the boom. I listened to Dent 10 years ago and he was just awful. The Aim Dent Demographic fund was such a piece of shit.
Schiff is also pretty much banned from fast money because he embarrassed those guys so bad.
They still like to jab him over how well his big Asian trades have gone lately. (I.E., they have crashed the hardest)
If anyone did, Gary Shilling really got the better of him in a debate on interest rates about a year ago. He was dead right and Schiff has been wrong
"He who has the gold, makes the rules" he says. I wanna believe that. But right now, it seems more like, "he who makes the rules, takes the gold". Still stackin'.
"he who makes the rules, takes the gold"
Excellent observation!
I'm still stackin', too ... but I'm really suspicious of the motives of ALL the gold pumpers. Most of them are obvioulsy being supported in the background by TPTB - and many of them are also 9-11 Deniers.
Things that make me go hmmmmm.....
Truth
I guess, santa claus, has an "Mayan" calander...
X-MAS in november?...Wonder what december will be like?
Seriously...Hairy Dent sucks...
In 1999, the AIM Dent Demographics Trends Fund was launched, based on the demographic economic and lifestyle trends identified by Dent. Unfortunately, the fund's results were miserable. From 2000 through 2004, the fund lost more than 11 percent per year and underperformed the S&P 500 Index by almost 9 percent per year. In 2005, its sponsor put investors out of their misery by merging it into the AIM Weingarten Fund.
I agree that Dent's fund was horrible. That's why I'm talking about his writing and the big picture. I'm in real estate, semi-retired now. I read "The Great Boom Ahead" in 1992, which predicted a housing crash in 2009-2010. Close enough. I laid plans based on his take, and they worked out beyond my expectations.
But, buy his fund? Never considered it, that's not his area of expertise. He started that to capitalize on the foundation laid by TGBA, his first and most useful book. Nothing he has done since has really added to the continuing story of the slow-motion collapse of an unofficial confederation of welfare states.
Yeah sorry I don't mean to come off the worng way. I can't stand Dent. But I see what you are saying.
Amy Wein...?
http://www.youtube.com/watch?v=namFjcOgHSE&NR=1&feature=endscreen
http://www.youtube.com/watch?v=PLuf3VsrO4g
http://www.youtube.com/watch?v=3XKYZRuJEnU&feature=artist
http://www.youtube.com/watch?v=y4zC9cYNztU&feature=endscreen&NR=1
http://www.youtube.com/watch?v=JYgcKEVh9n8&feature=endscreen&NR=1
I must say Yeah ! to that, Dumbass, What a talent, what a loss.
I expect that Z.H is not the ideal place for it, though.
But in this thing we agree, I shed tears when the predictable happened,
I can not wait for the album coming around Dec 3 if I remember rightly.
I'm going to miss that girl, we need that magic right now, good luck finding anything so fresh / hauntingly familiar.
Sad.
Increasing the supply of dollars floating around in the ponzi economy is not going to get the ultimate printing press rolling...the consumer.
Sorry Schiff, I'm not drinking the kool-aid. The end result will only be a more drastic hyperdeflation across the board when the momo trader effect/cocaine blastoff rush comes to a terrifying end.
It is very clear that the inflation trade will be the way to go for the near future, though, but only because of the lie.
Negative nominal yieldez on teh 1-year German bund:
http://ftalphaville.ft.com/blog/2011/11/30/773311/central-banks-move-to-ease-european-dollar-crunch/
http://www.bloomberg.com/markets/rates-bonds/government-bonds/germany/
Spread the word folks!
Post as many threads to zero hedge as you can. This particular one is excellent to spread around if you are positive on gold and silver as I am.
Dollar/Euro merger folks. Will it be called a Eurolar or a Doleur?
Doleur....
And i'll be worth half of pigeon shit or quater of mice tail.
Or 10 fuckin polish zloty - and then minimal wage in poland will drop from enourmous 300 € to 150€ with almost europrices
rotfl You want Riots ?
wait for Poland
excuse my english
excuse me
Just call em POS
3.5% COLA for next year and the first raise since the last was announced in 2008. I am so bummed.
How about we start a pool for next year, inflation according to shadow stats as it used to be measured (back when they used to measure actual inflation) to the nearest 10th of a percent. I have 14.7%. We can all send a FRN to a designated holder of the pile and who ever holds the winner gets the pile. Sound fun? One FRN = one guess of 2012 inflation rate. I am thinking we should run it from December 20 this year to December 20 next year since the world will be gone on 12/21/12.
Mind you I am sure rents and food/fuel will go up much more than that but the overall rate should be right in that slot.
We have more than double digit inflation already. Yesterday, went to buy my poor doggies some biscuits. Had to cut back to the cheapy generic a while back. Price on bag of GENERIC doggie bone treats went from 3.50 to 4.99 last week!! I couldn't believe a little wheat and bone meal cracker for dogs went up 42%!!!!
Early Nov, I was working in Central America. People are starving to death. The basic foods, beans, rice, corn have doubled in the last year. When you only make $2/day and your $1 of food just doubled, you kill a lot of people. I think the riots will start in the poor countries again. Eventually, this chicken will come home to roost and all hell will break loose.
'Ameuro'.
"That'll be 50 Ameuro's for our worst beer."
See. Catchy already eh?
I vote for TARD. Trans-Atlantic-Reserve-Dollar.
Thanks for sharing that. It's always nice to hear first-hand accounts of how people are faring in different countries. The countries where the average person spends a good chunk of their earnings on food would be the first to be impacted by price increases due to inflation as a direct result of CB printing. And you're absolutely right: it's a matter of life and death, and it's all coming back home.
Can you imagine what would happen if JPM disabled all those 45 million EBT "food stamp" cards? Or there was a "glitch" in the system? Since this system requires all sorts of inputs: electrical grid, communications infrastructure, oil and transport infrastructure, banking systems, etc., and since this is all just-in-time, it's only a matter of time before things breakdown.
Get your Bread Helmets on! : )
Bread Helmets?
LOL...here you go:
http://knowyourmeme.com/memes/bread-helmet-man
There are others too.
Bread helmets are a luxury! Who can afford to wear their food? I use wet trash and newspapers and just slap it on my head.
A big block of gubbermint cheese, throw in a Molotov and it's toasted cheese sandwiches for everyone! Actually some 'glitches' already happened: http://www.youtube.com/watch?v=Ufk7IXdxc-c Now you have to explain why someone has 6 kids and all day to stand around waiting for someone else to pay to feed them...
That video makes me very sad.
Wearing food seems smart to me. It deflects a blow, and it's still edible so you can replenish your energy. Sausages would also work well I would think. ;-)
Wow. I never knew!
Ben and his peeps bent the dollar over today and... well, you know.
Ever since the Peter Schiff and NIA squabble, ZeroHedge no longer posts NIA material which I think is a good thing. Even thought they had the "right" doomer message that people here like to read, they were a bunch of frauds. Schiff certainly won that battle.
Max Fischer, Civis Mundi
China pmi dropped to 49.
Teacher says, "Every time a bell rings, another PM investor gets their wings."
http://www.youtube.com/watch?v=FcMgt3JQDxw
I met Zuzu in 1996. Nice lady.
Here is what Harvard economist Jeff Miron and I had to say on Fox Business The Willis Report
http://video.foxbusiness.com/v/1303254302001/should-the-us-be-bailing-ou...
Should be Senator from the great State of CT right now.
No, I don't think so. His platform of "do absolutely nothing" wouldn't be good for most citizens of CT. Without at least some minimal government supervision (as laughable as that is), it would become an incredibly oppressive society ruled by the rich and elite.
I like his YouTube videos (he's a great communicator) and find his ideologies interesting, but in all reality, it would be a total failure for society as a whole.
Max Fischer, Civis Mundi
You're right. Having lying, thieving bastards in charge is much better for society as a whole.
Unfortunately, you don't remove the "lying, thieving bastards" when you remove government. They don't just vanish; they go join the "lying, thieving bastards" in the private sector and steal your money with virtually no restraint. The postlapsarian world is not very friendly.
Max Fischer, Civis Mundi
I dug a hole in my backyard and no oil came out. What gives?
a real market would have destroyed these criminal and incompetent bankers a long time ago. You're right about one thing Max, a certain amount of "regulation" is necessary. Criminal law is regulation. But ironically, even those fundamental rules are being ignored when it comes to the bankers. And that's where IamNot is absolutely right, real markets are one of the best forms of regulation and punishment. Neither extreme is correct. Like everything else, it's a balance and everyone must be accountable.
No. I disagree. A totally free market would enable them to thrive. If you look at a history of American banking before the Fed, it was a period of total domination by a select few (JP Morgan, for instance) and a period riddled with continuous bank panics, thievery, manipulation and financial wipe-outs for the middle class and farmers. Average wages for most of society was below poverty, while the kings of banking and industry thrived.
"It was the best of times (for the 1%); it was the worst of times (the 99%)" Totally/mostly free markets are absolutely ruinous for the majority of people. Some people like to idealize that free markets would enable losers to lose, but they don't. Sure, some do. But the truly powerful don't have to play by those idealized rules. They just cheat, steal and pillage to maintain power. Most of history demonstrates this.
Max Fischer, Civis Mundi
You're right. You must be regulated. Read Rothbard. Now.
Doesn't that feel better?
What is it with you and Rothbard? A True Believer?
*gasp* - a Doubter!
Read what I tell you to read and pipe down. What are you, some kind of libertarian or something?
Haha. No. I'm not a libertarian. I'm a free radical. :-)
He's already pointed out that for a free market to thrive, we need a monopolist coercive power (ie, a government) to protect us from force and fraud.
However, there is always the danger that over time a government established to protect its citizens and granted the coercive power to do so will go from being a protector to becoming the predominant predator - and that is exactly where we find ourselves at present. And how many governments were established by their citizens, anyway? Most were mafioso-style protectionist tyrannies that have had power incrementally wrested from them through revolt or threats of same.
"Average wages for most of society was below poverty" - by what standard? The rest of the world, at the time? Or compared with our present industrial, fossil-fuel cornucopia?
And if you think we had free market money during the period before the Fed, I suggest you do some research, rather than continue to make a complete fool of yourself.
LOL
Obviously, you have no clue what you're talking about.
During the "Gilded Age" over 90% of American families earned less than $1200 per year, with an average annual income of $380 - well below the poverty line.
http://www.pbs.org/wgbh/amex/carnegie/gildedage.html
This era before the Fed was as "free" as the market has ever been, and it was thoroughly corrupted by the very top 1% - just as I posted.
Max Fischer, Civis Mundi
I see. So if only they'd had bigger government back then, they would all have been magically richer? The pie would have been immediately larger? Do you know why people fled the old countries for the US? Why they were better off in the US, under less government, than back in Europe, where they had more government?
Ah, and I see we've now gone from free markets to as "free" as the market has ever been, have we? Nice dodge, sophist.
You still clearly have no idea what free market money is. And, no, it isn't the government setting a gold dollar standard. It isn't the States only granting banking licences to banks that would buy State dept, either.
Again, I suggest you do some research and come back when you're ready to admit you have a lot of learning to do. Being wrong is one thing; being a smug ignoramus is quite another.
can we include GoldMoney as a scam?
has anyone ever taken delivery from them?
Nice loaded question. Can we call you an arsonist? There is no proof that you aren't running around starting fires.
Peter has my vote. Oh...he is not running. Sorry.
write him in if you're so inclined
I'm going to start calling the Fed the Paper Mill. Banking is the only industry in which increased production is bad for the economy,
http://georgesblogforum.wordpress.com/2011/11/02/the-daily-climb-2/
When I questioned myself for adding to my "stacks" a month or 2 ago (or roughly at the high for both I might add: 10oz Gold & 100oz Silver) one thing became clear in the coin dealer shop...
Who was selling and who was buying:
1) Obviously less wealthy were selling their jewelry.
2) Obviously wealthier class were buying...bullion.
Time will tell and who knows best and maybe the less fortunate are inherently wiser for selling their jewelry than I for buying bullion but I try to keep in mind the government caters to the majority...of which I am not.
Not that my personal observations mean jack squat, but every time I have went to my dealer to buy bullion over the past two years, I have always been the only one buying. I usually have to wait behind one or two customers who are selling everything but the kitchen sink. I am just lucky that the dealer I buy from is old school and does not hedge the coins and bullion in his inventory-- this guy has a huge stash of 100 oz silver bars from 30 years ago.
As an American, do you feel your zole expanding?
So now that we "bought" the EU can I have that castle in Ireland I always wanted? Look for the silver lining. Oh, OK, there is this, those snotty French can no longer look down on us now that we are bailing out their asses yet again.
No, that's exactly why they'll be looking down their noses at us even more! Cuz we're dumb enough to rescue their socialist paradises... to keep our 'leaders' afloat.
Ok I like Peter but he is selling gold. If he thinks it is going up Why sell? - why not wait and make more with what he has on hand?? Gold dealers are EVERYWHERE - Why sell? If profit is the goal why not hold??
Gold dealers are EVERYWHERE? Really? All of the places that I see around are buying gold. I haven't seen any new coin/bullion stores open recently. I see the rip-off gold buyers popping up.
For your second question....it's a business. You have to sell something or it isn't a business.
Um. Think of it like this: KFC sells you delicious fried chicken even when they could eat it all for themselves. Why? Because there is currently enough chicken to eat for themselves and sell to you while making a small profit so they can make even more chicken to eat for themselves. If there is a famine KFC will stop selling you chicken so you should buy as much fried chicken from KFC before a famine comes and you won't be able to buy fried chicken anymore. Not even from Popeyes or Churches. In summary you and the KCF employees can eat all the fried chicken you want now if you have enough money in your pocket... even though it is twice as expensive as it was 10 years ago. Not everyone can get sides at these prices and some can only afford to buy the poppers but you call can get some form of KFC chicken. Does this help?
Thanks for the laugh.
that was genius, I heard that in Bill Hicks vocals.
thanks for the late night laugh.
How many trillions were thrown at this market one way or another this year to get the S&P to end up flat? I wonder where it would be if they had done nothing.
Well it depends. You could include the printing/loaning/easing by the Fed from 2008 to now and who knows where that went and how long it's been floating through the system.
When they said green shoots it was the fiat tree that they were talking about.
To be fair, Schiff considers the toaster popping up to be a sign to buy gold.
Did you just say the toaster popped up?!?
Man....that's a sign that it's time to buy gold!
LOL. It's sad, but that might be as reliable as any other indicator these days.
It won't be long before the pressure breaks down within the structured establishment. Watching adults in power become unhinged and regress into little children is truly mindboggling.
Bauhaus- Terror Couple Kill Colonel
Nice job Peter.
Logic is right but the trade seems so crowded ughhh
Fffff Ssss Geeeee
Pete: please pay some A/V kid from the local community college to fix your audio/video.
You can do Schiff shoots like this right for $100, and you'll be helping keep one more potential OWS'er busy.
what I am worried about is the global banking elite instituting a new currency coined in gold and minted by the imf. The elites will be allowed to transform their gold holdings into the new coins but the average joe will not. Gold in any other form besides the official minted coins will not be accepted for commerce. Average Joe will be allowed to trade gold for the new coins but at a heavily discounted rate. Where the elites hoarding tons of gold will get 1:1 you will only get one coin for every ten coins worth of gold you hold. The new coins will also be minted with RFID tags so every coin can be tracked of course. Of course black market counterfeit operations will spring up but they will be severely punished and anyone holding counterfeit coins will be shot by international Secret Service when the RFID tag fails authentication.
My UPS guy just came by and dropped of some motherboards, we got to talking and he is debt free and about to retire, he reckons he is making
80 G a year with Super health and bennie retirement stuff coming up in the future, I think UPS is fairly solid, along with Fed Ex and the like, in light of the inevitable decline of the US Postal services current position. (but it has never crossed my mind,UPS,Fed Ex,US post office).
I only mention this because I said "I hope you are buying Gold and Silver because I think the economy is going to fold on a dramtic scale" not my words but along those lines.
He looked at me like I have 2 heads!
And in retrospect I can not fault him in that, Where is my argument,/case
next time he comes around? as far as I can tell, predictively, UPS should do quite well in the coming times? or am I missing something?
Even in the event of inevitable collapse, some will prosper ? As always.
Yeah, you can't expect most working people to understand beyond what the propaganda ministry tells them. Most don't even read the paper or watch the news anymore either. They do listen to traffic and news on the commute to and from work though. It would be great if everyone were like most of the commenters on ZH, but then TPTB would really have a problem wouldn't they?
Anyone here notice that today the XAU was up about 2X either the price of gold or silver? Might be that the miners are finally getting going....I hope.
I was listening to NPR on the way home and the "financial expert" they were interviewing said this move by the Fed is just "financial plumbing" and that it has zero effect on the public.
Haha. NPR is like corn syrup for the mind.
National
Pentagon
Radio
yes, corn syrup.......their disinfo dwarfs Foxnews at times
i listen to the pledge drives while i sharpen my katana
It will give you constipation!
Schiffy's a bloody legend!
The gas and food prices are not rising fast enough to wake up the population and bring real changes. So unfortunately, it doesn't matter what zerohedge reports every day or what guys like Schiff says, the looting by the banking industry will continue. Heck, most people in America don't even know who the Fed chief is.
Bottom line is if your salary and wealth rise much faster than inflation, what's the worry?
It's funny how in the central valley in CA gas prices are frn 3.80 when oil's at frn 80. When oil goes to 100., gas goes to 3.45.
A 25% rise in oil causes a 10% drop in gas. I suppose when oil hits 200 gas will be affordable again.
Anyway, I agree with Schiff that all the increase in frn valuations in relation to US stock prices is the work of Ben's overflowing punchbowl. Once the projectile vomiting ceases, the dry heaves and DTs will return to the drunken being known as Mr. Market.
Nothing a good shot of PMs wouldn't cure though. imo.
He's an elitist douche who worships money, but Peter does know his dollar.
Speaking of precious metals, some observations...
On the same day that Eric Sprott filed with the SEC to increase the size of PSLV by $1.5 billion, he sent a letter to silver producers to hold some of their production as savings.
http://www.gurufocus.com/news/154423/silver-producers-a-call-to-action--...
Does anybody think that he's trying to mobilize the silver producers to use the PSLV to store their savings? This would make him a sort of teflon hunt brother with the 'tacit' backing of the silver mining industry.
http://www.examiner.com/finance-examiner-in-national/silver-wars-2-sprot...
All of this would be outstanding because it would lead to two inevitabilities...
1) World Peace
2) Profits for our Phyz
Has the EUR/USD been pegged?
Wow, two of my favorite economics peeps together, ZH and Peter Schiff = EconoGasm
IMF Saves the World
So, when is the next margin hike coming for Gold and Silver?
Probably just before or after the 2k mark, I'd guess. That seems to be a pretty key point of resistance. I wonder how effective new margin hikes will be.
Don't get me wrong,I'm all in on physical Gold...But the Dollar got crushed,,,,,,????
Huh.....
Not
All fiat currencie is falling at the same time. It is all getting crushed. The fiat ponzi is in its death throes. It has been crushed.
Dupe(sorry)
What this means is increasing financialization of the planet's economy at the expense of the physical economy, the one that actually matters. It is all just computer blips, so they can continue to grow quantities of money up into the quadrillions and the thousands of quadrillions, whatever that is. And, they can prevent inflation by not letting any of us have any. There's no end to it, but it's all going to become increasingly divorced from anything to do with reality.
Ultimately, it'll be one heavily guarded hard drive at the Fed with googles of dollars stored money in digital form -- the rest of the planet returns to the stone age.
Gold bitchez!
libertarian86.blogspot.com
Austrian economist needed.
http://www.youtube.com/watch?feature=player_detailpage&v=NvFj4ZwWszY
I posted on MW too, but I swear the EUR/USD is pegged. no more than 15-20 pips in either direction for almost 12 hours.
You Too can buy your very own one ounce AGE bullion coin from Kitco for the very low price of $1890.00...Cdn
Bargains,Bargains everywhere.
Fed lifelines to Europe? Yeah, the kind of "life"lines that pull you under. If this is what the Fed announces, just imagine what they are doing behind the scenes. I love the smell of desperate central banks in the morning. Smells like victory. Die, you fuckers. Die.
Today is ULTRA quiet in futures/oil/eurusd, etc...
Storm coming?
Just curious:. Anybody done any business with Euro Pacific. If so, how's the premium and service compare to others?
let me guess
I signed up for a Goldmoney account back in 2008. I only put $200 worth of silver grams into to account it did not take long for the storage fees to eat up the account. I say the system is a scam since the fees will drain your account.
same here, I was looking at GoldMoney and Schiff's, but soon realized the exorbitant storage fees. I didn't purchase and didn't ask if I could've just took delivery instead of storing with them.
Also, bought over 200 ounces of silver in 2004 from NorFED (liberty dollar), got the warehouse receipts instead of the physical b/c of the rapidly changing amounts on the coins and didn't want to pay the fee to have them updated.
Well, 2007, FBI raided liberty dollar and took all the pm's from their warehouse, including mine. I have writtine the AG in the case to return my property they stole but have never received any response. I reckon, one day, I will be visited by the thugs that stole my property.
they call alabama the crimson tide.....................learn to work the saxophone and play just what i feel........................ take care zh.. dont over analyze too much, its no fun with the blood pressure.....bet on print
Got PM?
deacon blues
funny...i was just listening to that
Who in the hell would trust a person whose name is SCHIFF?
Oh please....!
Forget this guy and his propaganda.
Who would trust a guy named Smith?!?!
I mean, SMITH?!?!?!
This was the move we here were waiting for. All Central Banks are joined. There is one world economic/monetary policie now. There is One World Order.
It has been done.
oh well...if you enjoy listening to these rich fuchs with giant imaginary egos I suggest you lap it up sonny.
Doesn't this also mean that the WHOLE ELITE WORLD from NewYork to Shanghai will do whatever is in their power, including war (Libya, full UN approval), central bank assistance, and national regulation lowering (China) to prop up the paper lie that they're all deeply invested in?
Sure.
Publicly.
Regardless of the truth, Peter Shift is a shameless huckster. Will somebody please just give him a few billion so he can put out information sans infomercial.
So who was about to go Lehman anyway, that's why they claim to have pulled this rabbit outta da hat? BNP, RBS, Jefferies again, BAC? All?
Nice head & shoulders forming on 1d XAG/USD
very sharp guy schiff really rate much of his analysis.. He pissed me off when he went down ows to slander the activists.. He know whats going on exactly.. but is another one of these morons that think they got rich on their own...Wake up Peter if wasn't for the rest of us .. no roads to drive on ..no paths to walk on .. no sewers no schools.. no educated employees.. no engineering ... your monkey ass would be hangin out of a fukin tree... so keep up the fine analysis.. and be bloody grateful you were provided the tools to do so......
I think your anger is misdirected. He wasn't being antagonizing nor did he slander anyone. As a matter of fact, he was being self depricating by bringing around a sign identifying himself as a 1%. That was like putting a target on his back and he gave the people that he intervied plenty of talking time to make their arguments for things. Unfortunately they weren't all worthy to listen to but some people made some good cases, and he responded, and stood there with the venom being slung at him. It's not like he invited a few of the OWS people to a forum where a group of 1%ers berated them. He seems to be on their side and is promoting his POV to take your anger out on the Govt. That is his POV. He also wasn't there promoting gold and silver I didn't hear him mention it once in his video.
You seem openminded and fair. Find one place where he says something slanderous or even remotely bad about the OWS people other than they need to occupy Washington or something. I haven't seen one but perhaps I am missing something.
appreciate comments and may well stand corrected.. Many OWS people make as valid a contribution to society as he does we all fertilise the pastures of free enterprise in many differant ways.. Perhaps he could have made that clearer.. but come on.. calling youself the 1% is nothing if not being anti the 99%..I fully accept government failure to regulate as much as the banks failure to regulate themselves.... again thanks for comments.. points taken on board...