• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Stop The Presses: The Fed Can Fund The Treasury With Over Half A Trillion In Emergency Capital

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Thu, 07/28/2011 - 17:49 | 1502425 Dakota Thunder
Dakota Thunder's picture

Sell Gold? 

How can you sell tradition?

I was told tradition is not money.

Thu, 07/28/2011 - 17:55 | 1502438 NotApplicable
NotApplicable's picture

Well, they have to de-monetize it first...

Thu, 07/28/2011 - 18:43 | 1502593 Long-John-Silver
Long-John-Silver's picture

I'm confused. If Ben says Gold is not money, why must it be de-monetized before it's sold for money?  /sarc

Thu, 07/28/2011 - 18:56 | 1502628 saulysw
saulysw's picture

An excellent question! I hope Ron Paul get's a chance to ask him that. I'd love to see him squirm while trying to think of an answer. The more Ben talks about it, the more he digs a hole for himself.

Thu, 07/28/2011 - 20:47 | 1502885 bankrupt JPM bu...
bankrupt JPM buy silver's picture

Ya, they will sell the kind of gold that Fausto and Juan Jose de Elhuyar found.


Thu, 07/28/2011 - 17:58 | 1502443 sqz
sqz's picture

Also, "Prepay expenses" looks like a wonderful transfer pricing accounting fudge (turn profits into expenses - normally for the purpose of tax avoidance via regulatory arbitrage)! But I doubt anyone will notice ...

Thu, 07/28/2011 - 20:57 | 1502907 saulysw
saulysw's picture

Mesmerizing avatar. Took me a moment to see the small blue circle.

Thu, 07/28/2011 - 18:16 | 1502523 ShankyS
ShankyS's picture

What gold? Got audit?

Thu, 07/28/2011 - 18:46 | 1502605 Long-John-Silver
Long-John-Silver's picture

You don't trust your government?

Thu, 07/28/2011 - 20:08 | 1502788 MissCellany
MissCellany's picture

Doubt they'll be able to sell tungsten at $1600 a troy ounce...

Thu, 07/28/2011 - 23:53 | 1503285 CompassionateFascist
CompassionateFascist's picture

Inasmuch as die Luftwaffe cannot currently hit NY, they can steal Germany's. Or replace it with an IOU.

Fri, 07/29/2011 - 02:50 | 1503595 Ghordius
Ghordius's picture

Already done, I thought?

Thu, 07/28/2011 - 18:48 | 1502610 macholatte
macholatte's picture

tradition is transient


Thu, 07/28/2011 - 19:06 | 1502652 Strider52
Strider52's picture

Sell our countries' gold?? Why don't we just cut off our dick while we're at it?

Thu, 07/28/2011 - 19:22 | 1502689 RevCBH
RevCBH's picture

Please observe the distinction between "our country" and "our government". The latter is the one in possession of the gold, which it shamelessly and blatantly stole from the former. Furthermore, the government is not really ours anymore, if it ever was.

If US GovCorp wants to sell gold at rock bottom prices, I'll be more than happy to scoop some up and secure it somewhere it can't be stolen so easily this time around.

Thu, 07/28/2011 - 19:28 | 1502700 karzai_luver
karzai_luver's picture

sorry child, if you or any of your critters voted then you endorsed the "country" as it is.

You are just another of the great merican that can't even take responsibilty for your own actions.

Fraud and criminality your own friend.


Thu, 07/28/2011 - 23:57 | 1503284 yipcarl
yipcarl's picture

You are obviously an idiot or have no idea how the system works.  Do you know the word...PATSY?  Yea well one is put up on the Dem side and one is put up on the Rep side.  That's it pal, that's your 'vote'.  you can shove it up your arse, your vote.  This country is no democracy OPEN YOU EYES. 

Thu, 07/28/2011 - 23:57 | 1503297 CompassionateFascist
CompassionateFascist's picture

Actually, the TP'ers are - so far - doing exactly as they were instructed to do by their voters: stiff the System. Also, you ingnorant fuck, it's (supposed to be) a Republic. Not a "democracy".

Thu, 07/28/2011 - 17:50 | 1502427 iDealMeat
iDealMeat's picture

Cool..  I'll hop in my truck and head over to Ft. Knox for the sale...

Back er on up.. 

Thu, 07/28/2011 - 18:05 | 1502490 Frankie Carbone
Frankie Carbone's picture

I don't think gold-plated tungsten is going for $1,600 an ounce bro. 

Thu, 07/28/2011 - 21:08 | 1502937 DCFusor
DCFusor's picture

Hey, even tungsten is worth more than $42/oz!  But who says they bothered with that charade, anyway?  If you're going to lie....why bother. 

Fri, 07/29/2011 - 00:40 | 1503413 azengrcat
azengrcat's picture

I guess you did not get the memo about QEZimbabwe

Thu, 07/28/2011 - 17:53 | 1502436 redpill
redpill's picture

They won't sell the gold, but regardless they can keep this charade going indefinitely. The August 2nd deadline was always an artificial tactic to press the Republicans into compromise prior to the 2012 election cycle heating up.

Thu, 07/28/2011 - 23:37 | 1503226 Calmyourself
Calmyourself's picture

They will keep it going for years as they continue to use the MSM and "education" system to inculcate the masses to control, theirs of course

Thu, 07/28/2011 - 17:54 | 1502442 Caviar Emptor
Caviar Emptor's picture

I can help! I can help! 

And it won't even cost ya much....

Thu, 07/28/2011 - 17:55 | 1502446 unky
unky's picture

the fed would never sell gold to the public.

either 1.) they dont have the gold anymore and it just gold-plated tungsten anyway

or 2.) they just default so be it, but never sell the real stuff

Thu, 07/28/2011 - 18:33 | 1502569 malikai
malikai's picture

It would be sold to the treasury, who then puts it on the crimex or whatever. Don't forget, that gold would be purchased by the kleptocrats after major takedowns shake confidence, giving them a great entry. It would make for a good prize just before the big reset. I would expect similar of other state assets like SPR again, land, resource rights, etc.

I think this tells us we should expect a good old IMF bang-up job. It worked so well everywhere else, why not here?

Thu, 07/28/2011 - 20:08 | 1502787 trav7777
trav7777's picture

the Crimex is not a gold warehouse for gold miners to shop their wares, dude.  It's a cash-settlement futures exchange.

If the UST sells gold, another sovereign with a large reserve account of $ would buy it

Thu, 07/28/2011 - 21:20 | 1502961 Mec-sick-o
Mec-sick-o's picture

We have an unnecesary large reserve in $.   It would be nice to add some Ft. Knox Centenarios as diversification to our reserves.

Thu, 07/28/2011 - 21:47 | 1502992 malikai
malikai's picture

You're right. Probably not crimex. The point being it will be bid on in a market somewhere. Probably a closed market consisting of PDs, Soverigns, the like. Similar to how the SPR was done.

Thu, 07/28/2011 - 17:55 | 1502447 AladdinSaneGirl
AladdinSaneGirl's picture

There are seriously clever people in Obama's administration eg Steven Chu, i bet they do have a plan like this behind them. Sell emergency gold supplies, like they just did oil. Uh-huh.

In the long term, both gonna go thru roof i guess.

Thu, 07/28/2011 - 17:56 | 1502450 Id fight Gandhi
Id fight Gandhi's picture

There's always a way these guys can get money to keep the rich rich!

The public will suffer, but the elite will be just fine.

Thu, 07/28/2011 - 18:15 | 1502519 TSA Thug
TSA Thug's picture

There is nothing wrong with a little suffrage. It build character and makes you appreciate the American Dream.


--You WILL Obey!

Thu, 07/28/2011 - 18:57 | 1502630 Hook Line and S...
Hook Line and Sphincter's picture

Dear Mr. Thug,

suffrage is the right to vote

suffering is just left of pain

succotash is a meal we should get used to

Thu, 07/28/2011 - 20:22 | 1502822 TSA Thug
TSA Thug's picture

Who axed for you're help. Dummy. I not might be good at spelling but I'm much better at identifying out of control suspects spewing grammar tits.

Thu, 07/28/2011 - 23:17 | 1503158 Alienated Serf
Alienated Serf's picture

your username must actually be a description of yourself, not some sarcastic bit.  suffrage?  really?

Thu, 07/28/2011 - 18:09 | 1502451 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Hyperinflation, bitchez!

The real question is, 'does the Federal Reserve have any gold to sell?'  And nevermind it being tungsten, my specific question:  'have they not leased it all already?'

Thu, 07/28/2011 - 18:38 | 1502581 baby_BLYTHE
baby_BLYTHE's picture

the FED admitted during Ron Paul's Monetary Committee hearings that they hold no physical gold. 

That's not to say the Treasury wouldn't hand over its holdings to the FED in an emergency...

Thu, 07/28/2011 - 20:22 | 1502820 FeralSerf
FeralSerf's picture

Maybe Treasury could sell the gold to the Fed?  Just another multibillion $$ accounting entry and voila more money!

That way they could get around inspections and such.

Thu, 07/28/2011 - 20:34 | 1502845 Stax Edwards
Stax Edwards's picture

Vic has gone AWOL....we need Vic!!!

Thu, 07/28/2011 - 21:14 | 1502954 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The Treasurie holds no gold; the Federal Reserve Bank holds gold on their books as being in the  i)  NYFED  ii) Fort Knox.  They hold 14k tonnes on their books.  The use the gold as loans to increase their reserves, and then use the reserves on loan to increase their assets, in the fractional reserve sense of the word.

Thu, 07/28/2011 - 18:45 | 1502604 tip e. canoe
tip e. canoe's picture

'does the Federal Reserve have any gold to sell?'

sure they do, the Germans'...

Thu, 07/28/2011 - 17:57 | 1502452 Caviar Emptor
Caviar Emptor's picture

Fed selling gold is a China wet dream

Thu, 07/28/2011 - 18:04 | 1502486 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Just like the SPR release, it will be JPM doing the buying.

Thu, 07/28/2011 - 20:09 | 1502796 trav7777
trav7777's picture

yeah the clan that took over the nation of Germany post-weimar still had access to credit from their banker cousins.

So will it be with JPM.  Their debt ceiling isn't breached.

Thu, 07/28/2011 - 18:18 | 1502531 Rainman
Rainman's picture

Speaking of the Chinese, the debt limit impasse appears to be the last straw.


Thu, 07/28/2011 - 18:29 | 1502562 Missiondweller
Missiondweller's picture

Maybe we can tell them what they so often tell us, "stay out of our business"

Thu, 07/28/2011 - 19:35 | 1502719 karzai_luver
karzai_luver's picture

maybe you can accept that you owe them money and take it like a man instead of a crying deadbeat.

If you can't stand it then don't go begging bitch.


Thu, 07/28/2011 - 19:20 | 1502685 DonnieD
DonnieD's picture

Appalling is running your own citizens over with tanks.

Thu, 07/28/2011 - 19:40 | 1502726 karzai_luver
karzai_luver's picture

Appalling is running over other countrys citizens  with tanks, like you had the guts even for that.

Appalling is killing other countries citizens that you have not even declared war on.

stuff your outrage where the sun don't shine.


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