Stacy Summary: Okay, go at it . . .
  |
 |
-
ref. max keiser – Get 6 mo’s free storage
-
Rick Ackerman-
- Karl Denninger – Market Ticker
- The Big Picture
- Mish
- David Morgan
- King World News
- SmartKnowledge
- GoldCore
fiat money and the french revolution
-
crash banksters – Buy Silver & gold
![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/t24_pt_en_usoz_2.gif)
-
Is this a surprise? europe was always the wealthiest locale on the planet. They have the largest cohort of high IQ, christian peoples. According to Charles Murray most of Human achievement arose from europe. hence you would expect them to be the wealthiest.
@advocate001 – that’s a really stupid argument; and, I might add, very, very wrong if you knew anything about history
Perhaps “3 X faster” will be an understatement. Yes friends it is me “Don” in the jungle. I rescently picked up a book about Belize history, the Belizean people are the micro example of what is happening every where. The interesting thing though is that many folks here know more about what is going on in the US from the perspective of having ancestors who were in the thrawls of physical slavery not long ago. Then the shift came from physical slavery to “Mental slavery”. I can not for the life of me remember the exact name of the book, but it does not paint a rosy romantic picture of Belize’s history. Not the “Y’ar, yo hoe and a bottle rum” pirates seeking freedom from Spain and Britain.
Anyway, the book was written with details toward historical fact. A sad tail.
Kudos to all, and @ Richard, yes found the little slice of paradise not but 100′ feet from a nice cascade.
This has to be a joke right?
“Gold dips as dollar rises from year’s lows”
http://www.marketwatch.com/story/gold-dips-as-dollar-rises-from-years-lows-2009-09-15
yet the price of silver climbs? Something fishie going on here.
Tax or not?
http://www.youtube.com/watch?v=nk0OvXdMiVM
Unfortunate comments need commentary.
@Don (in BZ) – that could make sense as gold is perceived to work inverse to the dollar in its role as a currency; while silver is perceived also an industrial metal
what a croc,…..all the figures are false regarding GDP,.so who’s kiddin’ who,….huh?
Oh,..hang on, lets go to the bank for another freakin’ loan
Europe has been de dominate power in the world since the medieval times, plundered/ruled/destroyed the world with old and modern colonisations. Yet. the wealth is concentrated in hands of few although there is a reasonable high standard of living there is a great illusion; Europe is also in heavy debt, high unemployment, fighting wars, printing money. All public services are declining every government is cutting social programs, health care quality is declining, pensions have vaporised, tax income dropping, bigger deficits, income declining and so on. I don’t think Europe is looking anything better than the US, specially with the lisbon treaty coming up as well. Beside what is defined as wealth; is only numbers/money, applying that theory goldman sachs is contributing a lot of wealth to society.
China is only looking good in theory; they have a positive balance sheet if they can get rid of the huge paper pile of worthless dollars, but there is a lot of unrest in their society and i think history has shown planned economies don’t work; the government can’t take on the huge task of managing every aspect of an economy, specially with over a billion people.
So that’s my question back; What country has an good (economic) perspective/position for the future?
The Inception:
http://www.ameinfo.com/46768.html
this is a really good video summary of the financial crisis:
http://www.msnbc.msn.com/id/21134540/vp/32840713#32840713
Notice American protester says “We are the majority, we will not be ruled by a rich minority.” Sounds like he gets it.
All I can say is,…everything is going as planned !
go figure
Financial meltdown history Basel ii:
Among the general criticism is that Basel II will unfairly advantage the larger banks from developed countries. Countries, like ours, who do not have these banks may further disadvantage the economically marginalized by restricting their access to credit or by making it more expensive. While it is true that the better credit risks will be advantaged as banks move towards true pricing for risk, experience with these systems in the United States and the United Kingdom, however, shows that the improved risk sensitivity means that banks are more willing to lend to higher risk borrowers, just with higher prices. The recent collapse of U.K’s Northern Rock is a good example that risk parameters have not been well established despite the emphasis on Basel 2 for the last two years.
http://www.thefinancialexpress-bd.com/2008/02/06/24535.html
@Stacy … maybe Americans should stand up and be counted ?
Follow the steps :
#1 set up a website “www.MyVoteShouldCount.com”
#2 Make a list of the 10 most important issues
#3 get all the action groups to let everyone know
#4 get Ron Paul to mention it on CNN, CNBC, Fox etc.
#5 choose a voting day
Examples of simple Yes/No questions :
a) Audit the FED
b) Reopen 9/11 inquiry through “independent auditors”
c) reinstate the Glass-Steagal Act
d) reinstate Spitzer as NY AG
e) Sack the SEC bosses and put in Mr. Markopolos
f) Immediate investigation/audit Ft. Knox and major IBs
g) AIG to be audited by Catherine Austin-Fitts
etc. etc. etc.
JMHO FWIW
Yea I feel so wealthy…
@stacy
good article about the stealth capitulation by both dems and repubs to big insurance:
http://www.campaignforliberty.com/article.php?view=217
I had it in last message you posted but didn’t know if you saw it.
Campaign for Liberty had a strong presence at Sat. rally in DC so not everyone is defending the status quo.
Stacy
Our beloved leader Gordon Brown keeps saying this:-
“your Livelihoods & S A V I N G S Are, hanging in the balance”
Er What does he mean?????
TOB coming?
Mike
@Don(BZ): U GO BOOY….love BZ…
Stacy posted news report yesterday about Dr. Joseph Stiglitz and there was video of his interview. Many of us posting here might have seen it but I thought to mention a part of the interview which is related to this discussion
Link to the video is below. Dr. Stiglitz while answering one question about GDP stated that GDP is not true reflector of the wealth of the nation or its economic well being or economic barometer. It was devised to state the economic activity of the markets. He adds that there are many different aspects of human society which cant be measured by a single number like GDP and he advocated a combination of different indicators/measures which can be used to come close to reflect the real measure of economic well being of nation or wealth.
I doubt how reflective this report is regarding the true wealth of the nation or a region.
http://www.bloomberg.com/avp/avp.htm?N=video&T=Stiglitz%20Interview%20&clipSRC=mms://media2.bloomberg.com/cache/vmRR9.bnMyaY.asf
Another link of him discussing GDP
http://www.youtube.com/watch?v=QUaJMNtW6GA
Another 2 Zombies up 50%+ today : AMTY (33% , was up 50%), CVM (80%)
Crazy Crooks Street !
USA! USA! USA! Oh, wait . . . .
Sanction proposed against Iran by US thinktank:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGXuRWqsEFos
@ Frances – The call for sanctions are right in line with recent calls for “crippling sanctions” from Netanyahu:
http://vdare.com/roberts/090830_sanctions.htm
(Roberts also has a good recent piece on why propaganda trumps truth: http://vdare.com/roberts/090914_propaganda.htm )
I hear war drums beating. These people are out of their minds.
@Amandip Singh – agreed and thanks for the links; I think the study above has to do with household wealth rather than GDP; the US wealth sank over 20% and the EU just under 6%, but, obviously, there was a massive housing bubble in the US so they lost a lot more ‘wealth’ and they also own more shares than many Europeans so with the market down, they will have also lost more
“Where’s Kenny Boy” now 23% funded
http://www.piratemyfilm.com/
@Mep:
Here’s all I could find about the Axlerod opinion on the Iran sanction issue:
http://blogs.jta.org/politics/article-ambush/2009/09/15/1007873/ross-axelrod-dubois-meet-with-ou
The UN is talking about disarming nuclear capabilities; Obama is heading the UN security council on this, but I don’t know why the council is concerned about Iran’s energy program.
It is nuts.
@maxkeiser
I maxed out my Kenny Boy copies to 10!! Come on people!
@advocate001
Past:
Astronomy – Middle East, Egypt, Persia
Medicine – China, Middle East
Agriculture – Middle East
Poetry – Middle East, Persia, India, China, Japan
Drama – Japan, Persia
Commodity Backed Currency – Mesopotamia, Persia
Libraries – China, Egypt
Recent and Present:
Mathematics Leaders – Russia, China, India
Scientific Discoveries – Russia, India
Highest IQs – Russia, India, China
Best Universities – U of Moscow, U of Peking
Best Research Facility – Russian Academy of Sciences
should I continue?
@Ilya:
Where’s Africa on your tidy chart?
I mean, they did contribute something?
Something you deem important that is?
Fictitious wealth (inflated asset valuations, derivatives etc) loses it’s capacity to be transformed into money at the turn of the business cycle — hence the call for QE to bail out banks and borrowers dependent upon those deflating assets, to reflate bubbles.
The difference in wealth destruction between the US (also UK, Ireland, Spain, Iceland) reflects the dominance of finance in those economies.
Read Marx, Das Kapital, Chapters 29 – 30 on fictitious wealth (in banking and finance), and especially on the fate of economies entirely dependent upon credit at the turn of the business cycle — causing a credit crunch — when fictitious capital is vaporised.
Ch. 29: Component Parts of Bank Capital
http://www.marxists.org/archive/marx/works/1894-c3/ch29.htm
Ch. 30: Money-Capital and Real Capital. I
http://www.marxists.org/archive/marx/works/1894-c3/ch30.htm
Marx perfectly anticipates the unmasking of massive fraud, the transmission of the crisis from sector to sector and importers to exporters, he also dismisses the anticipated calls for state bailouts to replace the fictitious wealth (i.e. TARP and guarantees), and notes how perception of economic reality is most distorted in money centres.
Marx also notes that real capital remains intact, and awaiting productive use (through the injection of money and labour), and that state bailouts are merely a massive transfer of wealth by the state from taxpayers (mostly current and future workers) to speculators.
Of course, Marx is practically verboten in almost any public discourse. Perhaps because he’s so spot on.
@Richard!
I see you have been to BZ!! Haa Boooy!
We had to study Marx in university economics. But we werent exposed to the austrian school. you can be exposed to marx if you wanted. I assume you moved to east germany, north korea or moscow 40 years ago? I lived in a communist country. I can answer most of your questions concerning marx/communism- including its “wonderful” health care system.
More comic relief from the land where foxes caper unmolested…
http://www.dailymail.co.uk/news/article-1212873/Green-bike-shop-owner-fined-council–producing-rubbish.html
@ deng feng,
Schumpeter (at best an intellectual magpie, or simply a plagiarist, and a failed Austrian banker) and von Hayek were both taught under the ‘Austrian School’, both taken up as icons by neo-liberals.
Hardly verboten, and nothing I’ve read from them has the explanatory power of Marx. If you think the intellectuals of the Austrian School produced anything as relevant as Das Kapital Ch. 29-30 to the topic of this thread (wealth destruction in US vs Europe), then post a link to whatever Menger, von Böhm-Bawerk or von Mises wrote.
Of course, neo-liberals didn’t really believe in free markets or the price mechanism when they faced their own crisis of capital. I don’t imagine back-seat drivers from the Austrian School would have been any truer to their ideals. They didn’t prove to be much use when Austria collapsed around them in the first wave of the Great Depression.
Why would you assume anyone seeing value in Marx would move to a communist country, any more than every neo-liberal would move to Chile under military dictatorship which brought in the Chicago School? Or to post Soviet Russia, where the life expectancy of most people collapsed in the chaos of a ‘free’ market for oligarchs and kleptocrats.
Question: How has life expectancy in Russia fared under various economic systems? Or in China, or Cuba?
In my opinion, the ‘Austrian School’ doesn’t amount to much more than posturing for neo-liberals. btw. The Austrians plundered a Marxist, Kondratieff, for their theories of economic cycles … most of which was already anticipated by Marx in Das Kapital.
If they didn’t…er, ‘borrow’ from Marxists, I’m not sure they’d have much to say about anything, except.
@frances snoot
My list is not tidy, it just covers the agricultural era to today.
Egypt is Africa, no?
If you want to include the hunter/gatherer/nomad era then:
we’re going to go back to far antiquity to the Han tribe of south Africa who were the original colonizers of this planet: from south Africa, up the eastern coast to the middle east, north to turkey and europe, and east across the coast of south Asia, to Micronesia and Australia, and then to South America.
That has been proven by geneticists.
What they knew and passed on to future generations…there is no historical record – assumptions can be made of course. Shit started SOMEWHERE, no doubt.
Anyway, as far as I’m concerned there is only one people, the Human People – monsters aside.