Breaking Headline: Russia backs return to gold standard

9 Responses to Breaking Headline: Russia backs return to gold standard

1. Josef Bagodonutz | March 31, 2009 at 11:45 am |

   not "One Rind to Find them."
   One RING to Find them…
   I have nothing against Pork Products.
   Unless they know how to write laws, or engage in usurious financial practices

2. Josef Bagodonutz | March 31, 2009 at 11:37 am |

   Basing currency's value on a Fruit Basket with Rocks
   doesn't sound like a solution to me.

   How is a gold standard going to help?
   What is its purpose?
   To peg the amount of a nation's M0 (i.e. currency in circulation)?

   SDR 1 = US$ 1.50
   8100 tonnes of Reserve gold in USA (according to World Gold Council figures)
   The IMF used to value gold at SDR35/oz(troy)(before Tricky Dick worked his magic)

   so, the USA has 260421075 oz(t) * 35SDR/oz
   = 9,115,000,000 SDR in gold reserves

   The USA according to the recent H.4.1 has
   $898,615,000,000 IN CIRCULATION!!!!!!!!
   at $1.50/SDR (current value) you get
   about SDR 600 Billion.

   600(circ. currency) / 9.115 (Gold reserves) = about 65.8:1
   That is a fairly BIG ratio…
   the US has about 66 times more currency in circulation than it has gold reserves

   So if the value of gold were adjusted
   66*35 = 2310SDR/oz(t)
   2310 * $1.50 = US$3465/oz(t)

   The scale of the problem on the american side alone
   is staggering…
   When you add the rest of the fruits into the basket, with THEIR piddle of rocks,
   I can't imagine the CLUSTERFUnK that results…

   It reminds me of a poem I once read:

   One Ring to Rule them all,
   One Rind to Find them.
   One Ring to Bring them all
   and in the Darkness bind them…

   Happy Number crunching at the G20…
   Onward to MORDOR ye' Deep-Fried Snickers Munchin Trolls…
   Only Chuck Norris can save us now…

3. randy | March 31, 2009 at 12:59 am |

   what a breath of fresh air. Max u r my new hero lol. what u said about following the money, right on target. it really isn't that hard to follow the money, people r just brain dead anymore. off w/ their heads, right on the money, let's take back what is ours, i think people would wake up maybe if the stronger of us would stand up and finally do what needs to be done. the whole needs to be fired in washington from the president down to congress and the beurocrats. no more lobbying, and much tighter regulation on big business, and for God's sake get rid og the federal reserve, probably the single most criminal corp. of the world.

4. Bill Stewart | March 30, 2009 at 10:20 pm |

   Technically I am against a pure Gold standard:

   Platinum, Palladium and Silver (as well as Gold) must be seen as the globally standardized basket of reserve currency metals. Going to just one metal is as bad an idea as going to one reserve fiat currency….

   My blog (or email list, what it actually is) has a lot of MK links content interspersed with other applicable economics news stories from Canada / Australia and NZ — parts of the world totally forgotten in the current G8 Global Finsec induced meltdown.

   == Other odd news ==
   The research study fails to consider these things:

   In the industrialized world girls would typically have more toxins in their system. This is beyond the issue of hormone mimicking compounds…

   Girls that go out of their way to get rid of toxins in their system, as in say India — are probably less prone to the effect.

   In the tropics, and before refrigeration — girls shopped every day (or gathered food).
   =================

   Shopping sprees linked to periods

   Women may be able to blame impulse buys and extravagant shopping on their time of the month, research suggests.

   In the 10 days before their periods began women were more likely to go on a spending spree, a study found.

   Psychologists believe shopping could be a way for premenstrual women to deal with the negative emotions created by their hormonal changes.

   Professor Karen Pine will present her work to a British Psychological Society meeting in Brighton later this week.

   She asked 443 women aged 18 to 50 about their spending habits.
   “ The spending behaviour tends to be a reaction to intense emotions ”
   Professor Pine

   Almost two-thirds of the 153 women studied who were in the later stages of their menstrual cycle – known as the luteal phase – admitted they had bought something on an impulse and more than half said they had overspent by more than £25.

   A handful of the women said they had overspent by more than £250.

   And many felt remorse later.

   Professor Pine, of the University of Hertfordshire, said: "Spending was less controlled, more impulsive and more excessive for women in the luteal phase.

   "The spending behaviour tends to be a reaction to intense emotions. They are feeling stressed or depressed and are more likely to go shopping to cheer themselves up and using it to regulate their emotions."

   Hormonal

   She said much of this could be explained by hormonal changes during the menstrual cycle. And the findings were exaggerated in the women with severe PMT.

   "We are getting surges and fluctuations in hormones which affect the part of the brain linked to emotions and inhibitory control. So the behaviour we found is not surprising."

   Another explanation might be that women are buying items to make themselves feel more attractive – coinciding with the time of ovulation when they are most fertile, typically around 14 days before the start of a period.

   Most of the purchases made by the women were for adornment, including jewellery, make-up and high heels.

   Professor Pine said: "Other researchers have found there is an ornamental effect around the time of ovulation."

   Researchers have found women tend to dress to impress during their fertile days.

   Professor Pine, author of the book Sheconomics, said if women were worried about their spending behaviour they might avoid going shopping in the week before their period was due.

   Story from BBC NEWS:
   http://news.bbc.co.uk/go/pr/fr/-/2/hi/health/7971…

5. Marc Chabot | March 30, 2009 at 9:24 pm |

   hey Stacy,
   i went to infowars.com and a saw a news linking to a MK video on blip.tv and guess what pictured they used for the news cover before linking to the video? yes… the picture of Max with his impermeable beige, la seule image potable disponible…

6. gold10k | March 30, 2009 at 9:07 pm |

   Too early for an actual gold standard IMO (have to inflate away the debt first) but the Russian proposal that it be included in the basket of currencies for a new world reserve currency is certainly a change from its persona as a barbarous relic. It would be interesting to see a graph of gold reserves as a percentage of total reserves for each of the G20 countries… also as a percentage of GDP for each.

7. gold10k | March 30, 2009 at 9:07 pm |

   Too early for an actual gold standard IMO (have to inflate away the debt first) but the Russian proposal that it be included in the basket of currencies for a new world reserve currency is certainly a change from its persona as a barbarous relic. It would be interesting to see a graph of gold reserves as a percentage of total reserves for each of the G20 countries… also as a percentage of GDP for each.

8. Michael Goyer | March 30, 2009 at 8:56 pm |

   The problem with the gold standard is that it still keeps the parasitical banksters in power. Let's look at real solutions that eliminate the vampiric sucking of the life blood of real production by these crooks. They force us to use debt to create and circulate all currency(gold backed or not) into the economy and eventually drain all real value out of the economy with compounding interest payments. Interest payments take up so much of the production potential the system then stalls into a death spiral. Leaving everyone broke and tired not to mention mad.

9. StephenLV | March 30, 2009 at 8:55 pm |

   Here in the Zone, the US CFR Press are aggressively downplaying the G20 Meetings. They are saying nothing of any importance will be discussed or agreed upon in London (lol). Clearly the US Automaker story which broke today is being used for cover. I expect the banker bonus "debate" will be hot again by weeks end.

   The Zone people are being sold a bag of donuts right now. Their leaders, namely "O" and CONgress are totally behind the Chinese et al plan to ditch the dollar. They however are saying the complete opposite to the American Sheeple. Tim G (Minister PinocchiO) can hardly keep it together and Helicopter Ben I sense has gone insane, ala Colonel Kurtz.

   Whatever is left of the US Treasury is being gutted as we speak.