Comments on: New Labour imploding, gold looking good to some for the first time in 152 years http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/ Finance. Markets. Scandal. Fri, 12 Mar 2010 22:25:06 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Scott from Oregon http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6379 Scott from Oregon Wed, 03 Jun 2009 14:57:17 +0000 http://maxkeiser.com/?p=1510#comment-6379 http://www.theaustralian.news.com.au/story/0,25197,23897216-5013565,00.html http://www.theaustralian.news.com.au/story/0,25197,23897216-5013565,00.html

]]> By: Scott from Oregon http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6373 Scott from Oregon Wed, 03 Jun 2009 14:42:31 +0000 http://maxkeiser.com/?p=1510#comment-6373 http://newsok.com/house-bypasses-governors-veto-to-claim-oklahomas-sovereignty/article/3366762 http://newsok.com/house-bypasses-governors-veto-to-claim-oklahomas-sovereignty/article/3366762

]]> By: Hawk of Terror http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6287 Hawk of Terror Wed, 03 Jun 2009 10:09:50 +0000 http://maxkeiser.com/?p=1510#comment-6287 No doubt Australia is "the lucky country" when it comes to rocks. But it is much easier being bullish on commodities when oil is approaching $70 off its $35 low, copper approaching $250 off its $125 low etc. etc. Surely it will take a bit longer than a few months (even years) for China to re-orientate its economy and achieve de-coupling? Maybe then we should heed Rudd's warning, when he says "we're not out of the woods yet" and "there's a rocky road ahead of us." Of course, the irony is that when a politician says something like this, he generally means the exact opposite! No doubt Australia is “the lucky country” when it comes to rocks. But it is much easier being bullish on commodities when oil is approaching $70 off its $35 low, copper approaching $250 off its $125 low etc. etc. Surely it will take a bit longer than a few months (even years) for China to re-orientate its economy and achieve de-coupling? Maybe then we should heed Rudd’s warning, when he says “we’re not out of the woods yet” and “there’s a rocky road ahead of us.” Of course, the irony is that when a politician says something like this, he generally means the exact opposite!

]]> By: harry_w http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6275 harry_w Wed, 03 Jun 2009 09:18:05 +0000 http://maxkeiser.com/?p=1510#comment-6275 On the UK politicians resigning (MPs, ministers) ... ...I think it may have something to do with maintaining their on-going access to salaries & expenses, and try to avoid the heat of criminal investigation, convictions would adversely affect their severance pay and pensions, and chances of access to the House of Lords gravy train: <a href="http://www.marketoracle.co.uk/Article10989.html" rel="nofollow">MP's Non-Existant Mortgage Fraud, Where are the Police?</a> May 30, 2009 - 04:34 PM By: Nadeem_Walayat A number of MP's have claimed thousands in tax payer monies for mortgages that do not exist. Whilst virtually all MP's have hidden behind the "within the rules" mantra as to why they defrauded the tax payers "LEGALLY", however claiming monies for non existent mortgages brings the matter into criminal law... ...Therefore the question that needs to be raised is where are the police? Why have the MP's suspected of mortgage and other fraud not been questioned under caution? ...the following are confirmed as MP's that have claimed for non existant mortgages, who have stated that they will step down at the next general election which ensures a tax payer reward for upto £175,000 as a thank you for allegedly defrauding the tax payers (£65k 1 year salary, £65k resettlement grant, £44k winding up allowance), plus an additional £30k per annum pension. If that were not bad enough, at least 50 MP's have applied to be appointed to the House of Lords and thus ensure the tax payers continue to pay for disgraced MP's that would have been sacked in any other commercial organisation. ...the House of Commons is littered with MP's that have claimed for houses that they have not lived in, primarily houses for the purposes of flipping (profiting on without paying capital gains tax) and for the benefit of members of their families, the total could run to some 200 MP's or a third of the House of Commons. The Metropolitan Police announced 2 weeks ago the formation of a special committee to look into MP expenses, it is highly likely that the first prosecutions will not take place until after the next general election. ---------------------------- It's the UK, the establishment will throw a scapegoat to the wolves and the rest will be brushed under the carpet. On the UK politicians resigning (MPs, ministers) …

…I think it may have something to do with maintaining their on-going access to salaries & expenses, and try to avoid the heat of criminal investigation, convictions would adversely affect their severance pay and pensions, and chances of access to the House of Lords gravy train:

MP’s Non-Existant Mortgage Fraud, Where are the Police?
May 30, 2009 – 04:34 PM
By: Nadeem_Walayat
A number of MP’s have claimed thousands in tax payer monies for mortgages that do not exist. Whilst virtually all MP’s have hidden behind the “within the rules” mantra as to why they defrauded the tax payers “LEGALLY”, however claiming monies for non existent mortgages brings the matter into criminal law…

…Therefore the question that needs to be raised is where are the police?

Why have the MP’s suspected of mortgage and other fraud not been questioned under caution?

…the following are confirmed as MP’s that have claimed for non existant mortgages, who have stated that they will step down at the next general election which ensures a tax payer reward for upto £175,000 as a thank you for allegedly defrauding the tax payers (£65k 1 year salary, £65k resettlement grant, £44k winding up allowance), plus an additional £30k per annum pension. If that were not bad enough, at least 50 MP’s have applied to be appointed to the House of Lords and thus ensure the tax payers continue to pay for disgraced MP’s that would have been sacked in any other commercial organisation.

…the House of Commons is littered with MP’s that have claimed for houses that they have not lived in, primarily houses for the purposes of flipping (profiting on without paying capital gains tax) and for the benefit of members of their families, the total could run to some 200 MP’s or a third of the House of Commons.

The Metropolitan Police announced 2 weeks ago the formation of a special committee to look into MP expenses, it is highly likely that the first prosecutions will not take place until after the next general election.
—————————-
It’s the UK, the establishment will throw a scapegoat to the wolves and the rest will be brushed under the carpet.

]]> By: Mini US http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6271 Mini US Wed, 03 Jun 2009 08:41:42 +0000 http://maxkeiser.com/?p=1510#comment-6271 Australia is all about commodities. Always has been. I see that Peter Schiff is begging people to get out of the $US and into Commodity based currency, Aus/NZ and other Asian countries, as well as gold, silver, anything that isn't a $US asset basically. Same as Max has said. Commodities is a massive source of income for Aus. and China/Asia is hungry. Thats why Govt here is confident of repaying debt quickly. Once China has bought all our coal, iron ore, etc Govt thinks it will tell them to build windmills because of global warming. Thats when we start selling them uranium. So short or long term commodities rock! Pardon the pun. Australia is all about commodities. Always has been.
I see that Peter Schiff is begging people to get out of the $US and into Commodity based currency, Aus/NZ and other Asian countries, as well as gold, silver, anything that isn’t a $US asset basically. Same as Max has said.
Commodities is a massive source of income for Aus. and China/Asia is hungry. Thats why Govt here is confident of repaying debt quickly.
Once China has bought all our coal, iron ore, etc Govt thinks it will tell them to build windmills because of global warming. Thats when we start selling them uranium. So short or long term commodities rock! Pardon the pun.

]]> By: Hawk of Terror http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6268 Hawk of Terror Wed, 03 Jun 2009 08:02:44 +0000 http://maxkeiser.com/?p=1510#comment-6268 @ Mini US Agreed! Surely it is only a quote-unquote genuine recovery :-) And, like clockwork, we can expect policy makers over the next few days / weeks to pat each other on the back on a "job well done!" What will be interesting to see is whether this self-congratulatory smugness will coincide with an upside exhaustion in commodity related trades? I.e. not only will Australian policy makers bask in their "technical" success, it seems possible that the World media will join the party and view Australia as a beacon of hope etc. etc. ? @ Mini US

Agreed! Surely it is only a quote-unquote genuine recovery :-) And, like clockwork, we can expect policy makers over the next few days / weeks to pat each other on the back on a “job well done!” What will be interesting to see is whether this self-congratulatory smugness will coincide with an upside exhaustion in commodity related trades? I.e. not only will Australian policy makers bask in their “technical” success, it seems possible that the World media will join the party and view Australia as a beacon of hope etc. etc. ?

]]> By: Mini US http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6261 Mini US Wed, 03 Jun 2009 06:24:13 +0000 http://maxkeiser.com/?p=1510#comment-6261 Yo, Hawke of Terror. The govt are taking credit for it sure. However, economists here are saying that this was only recorded as GDP growth because imports dropped off. This apparently means that business investment dropped off, which is what drives the economy (not stimulus handouts as the govt would have us believe). We'll wait and see while we have to listen to govt gloating and opposition asking "Why, then, did we go into so much debt?" There is no doubt this is not awful news like we are seeing in other countries however. Yo, Hawke of Terror.
The govt are taking credit for it sure.
However, economists here are saying that this was only recorded as GDP growth because imports dropped off. This apparently means that business investment dropped off, which is what drives the economy (not stimulus handouts as the govt would have us believe).
We’ll wait and see while we have to listen to govt gloating and opposition asking “Why, then, did we go into so much debt?”
There is no doubt this is not awful news like we are seeing in other countries however.

]]> By: Scott from Oregon http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6257 Scott from Oregon Wed, 03 Jun 2009 05:03:36 +0000 http://maxkeiser.com/?p=1510#comment-6257 http://www.lewrockwell.com/blog/lewrw/archives/027057.html http://www.lewrockwell.com/blog/lewrw/archives/027057.html

]]> By: Hawk of Terror http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6247 Hawk of Terror Wed, 03 Jun 2009 02:08:31 +0000 http://maxkeiser.com/?p=1510#comment-6247 Hi Max and Stacy, Some news from the Antipodes: "Australia avoids recession" http://business.smh.com.au/business/australia-dodges-recession-20090603-buyq.html This should lend further support to Australian exceptionalism, proof that "it" can't happen here etc. etc. Could this be the sign of a "genuine" recovery, or does it simply prove the adage that the market tops out on GOOD news? Hi Max and Stacy,

Some news from the Antipodes:

“Australia avoids recession”
http://business.smh.com.au/business/australia-dodges-recession-20090603-buyq.html

This should lend further support to Australian exceptionalism, proof that “it” can’t happen here etc. etc. Could this be the sign of a “genuine” recovery, or does it simply prove the adage that the market tops out on GOOD news?

]]> By: Scott from Oregon http://maxkeiser.com/2009/06/02/new-labour-imploding-gold-looking-good-to-some-for-the-first-time-in-152-years/comment-page-1/#comment-6232 Scott from Oregon Tue, 02 Jun 2009 23:21:13 +0000 http://maxkeiser.com/?p=1510#comment-6232 http://solari.com/blog/?p=3078 http://solari.com/blog/?p=3078

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