Stacy Summary: Bankers do come up with the most colorful verbs.
Mr Paulson told bankers that the Chancellor had “grin-f******” the US after London refused to waive legislation that would have allowed Barclays to save the Wall Street bank.
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@Bonn, Letting gov’ts. draw in as much money as they need on their ledgers is lunacy. A precious metals backed currency is merely boring, by comparison. Precious metals are attractive as a basis for currency in large part because of their durability. You could back a currency with other commodities, though. As Ron Paul has pointed out, the USD has been effectively backed by oil since it went off the gold standard in ’71.
@Freemarkets – I disagree, Niall Ferguson’s book the ascent of money that I am reading at this very moment is a good history book. I learn new things as I read, how bonds, stocks, paper money, FRB, lending, bank, corporation and so on came to be, it is good information to take with me. And as a plus, the book is easy reading, perfect for a newbie wanting to learn. (don’t drag the rothschild conspiracy to far now…)
@Bonn – gold is a store of value, paper money/digital money is not. That is why people like gold.
@Phil – Germany Looks at Ways to Protect Online Journalism http://www.nytimes.com/2009/10/29/business/global/29copy.html?_r=3&ref=technology
that could be the death to sites like maxkeiser.com or am I misreading it?
Austrian Mint cuts gold coin production. Gold Coin Output to Drop by 32% on Demand, Austrian Mint Says http://tinyurl.com/ylyonzc
@Bonn – IMO gold is cheap as long as you can still buy it. Historically, the gold lesson is learned not in times when everything is good but rather when the fear is palpable and the store shelves are empty. Food, clothing and real estate are (of course) necessary, but gold is a good way to preserve and transport capital. You don’t need tons of gold, just “some” as an insurance policy.
Let’s hope we don’t have to learn the lesson!
This is standard British policy; begger my neighbour. My understanding is that Britain declared an interest in Lehman on ‘that’ day so everyone there was expecting the British to come in. i then they blind sighted Lehman and the US. Its everyman for himself in this world baby!!
@Palantíri
No way they shoot themselves in the foot cause advertisers pay on click ons. If they make it less reachable less clicks so less views so less advertising money for them more for Keiser.
http://www.bloomberg.com/apps/news?pid=20601103&sid=a_bD4gJ8o4wc
U.S. economy grew in the third quarter for the first time in more than a year, propelled by stimulus-driven gains in consumer spending and home building.
The world’s largest economy expanded at a 3.5 percent pace from July through September, exceeding the median estimate of economists surveyed by Bloomberg News, after shrinking the previous four quarters, figures from the Commerce Department showed today in Washington. Household purchases climbed 3.4 percent, the most in more than two years. ” end quote
some msm is even saying; end of recession. guess they are closing the black hole debt for now and hide it between space and time. Yet how much do you have to cut, paste, forget shortly said manipulate to fabricate these numbers? only growth is due to the decline in the dollar, purchases up with higher unemployment and foreclosures? one obvious measurement mistake is taking numbers of 2 years ago.
i am sure if u got a couple of good people we could come up with a better system . And u telling me that Backing a Currency with Precious metals is Good ? I’ll Asku one thing does the average Joe have any means to actually physically go and see the stored precious metals ANSWERE is No So now u just got to trust that in their Paper release they have say 4000 tons of gold How sure can we be that that press release is True ?
what if they only got 2000 tons actually . The whole System is faulty . So u guys can carry on buying Gold and Silver i care a rats arse for it i would rather buy into Real estate
The Apocalypse Burger
http://www.wimp.com/deadliesthamburger/
@Richard@lattitude30N, After OPEC decouples oil from USD, only the Fed will buy T-bills. The US might be able to afford bases on 13 countries, as before WWII. Not 130. Even US black ops involvement in the drug trade will suffer.
@Bonn, Real estate sounds very sensible, especially compared to USD.
@Palantíri … Germany Looks at Ways to Protect Online Journalism
Doesn’t surprise me … the German Govt. are already experts in “fees” for their friends , family and corporations.
GEZ, VG-Wort & GEMA are well known debt collectors !
I say debt, because people hate paying and pay late !
There have been many TV reports about GEZ using all sorts of dirty tricks ( spying on people ) to collect fees. e.g. writing down names on door bells and letter boxes.
In on case, they tried to collect fees from a family dog … who had his own door bell ! … the GEZ went to court on this .
I am NOT kidding !
The German masses still haven’t learned from the old days , i.e. they obey like willing slaves.
There was a German TV report some years abouta street in Duesseldorf ( Graf-Recker-Strasse IIRC ), where the Old AGe Pensioners had actually printed their own Parking-Offense-Letter-Heading and would walk the streets writing down number plates.
Speaking of profanity and candid observation, Florida Rep. Alan Grayson has deen quite direct in his criticism of ex-Enron shill Linda Robertson:
http://tpmdc.talkingpointsmemo.com/2009/10/grayson-calls-lobbyist-k-street-whore.php?ref=fpblg
… his Democratic colleagues have responded by missing the point and saying that he’s somehow “inappropriate and unfair”.
@ Will IMO gold is cheap as long as you can still buy it. Historically, the gold lesson is
Ans: Have u heard of Barter System of trade People would more than happy accept that and benifits involved No TAX
@Bonn, Not sure if the real estate market has really bottomed out yet though. It’s tied in with Fed policies other people here probably know more about.
@Bonn re:Barter system
The barter system is alive and well – I have even seen people using it internationally. Check out
http://www.google.com/search?q=barter+exchange+online
but even on Craigslist or other selling sites there are people who barter.
Whether we’re talking governments or individuals, it’s hard for us to really internalize the need for a gold-backed currency until we’ve all been grin-f***ed some more by our trusted leaders. At some point, everyone will be sore enough that it will make sense. Until then, it’s just another commodity.
@The Man from Glad
Don’t think so there are to many houses on the market right now and demand is sluggish so the ol head economical rule of supply and demand….
Roubini: Real Estate Prices to Fall Another 7-10% http://bit.ly/2i04Uv
Goldman Sees ‘False Bottom,’ in U.S. home prices Merrill Sees ‘Treat’ http://tinyurl.com/yg2jchy
LMAO PMSL Armish Way of living seems appealing now this rat race just leads u to a heart attack by 56 ROFL
Me? : Good riddance Apple iPhone & Co. !
Google Nav System Shakes up GPS
…Google’s map play could be bad news for the Apple iPhone, too, particularly if it convinces folks to buy one of the new Android 2.0 handsets that support the nav system. Why? Because Google Maps Navigation is free….
http://www.pcworld.com/article/174623/google_nav_system_shakes_up_gps.html
@Bonn: “barter system’ Yes I even became a currency officer for AOCS here in US…it is a silver backed barter system as opposed to mere paper exchange…
@Man from Glad: “even the drug trade…” that’s a scary thought…those guys don’t play..they expect ever increasing returns…Notice how quickly and quietly the $680 b Defense spending ( authorization ) bill passed…barely a whimper..and we all know the trillions as “undocumentable entries” ( aka missing )…that have gone astray…So at what point do the bond rating agencies step in and declare the US or any state treasury bonds below AAA grade???
Gold goes up when GDP figures from US show good figures.. explanation is.. gravity is opposite in presence of banks
Skynet is real and the Terminator is developed right now by Raytheon – Sarcos Exoskeleton http://www.youtube.com/watch?v=Nhj3Z9o6t0g
ROFL
On the campaign trail with Obama
As US President Barack Obama prepares to mark the first anniversary of his historic election, a new documentary reveals what was happening behind the scenes on the campaign trail.
By The People: The Election of Barack Obama began filming almost a year before the candidate announced he was running, with the crew given unprecedented access to his campaign staff and the Obama family.
The film, produced by Hollywood actor Edward Norton, airs on America’s HBO channel on Tuesday.
http://news.bbc.co.uk/2/hi/entertainment/arts_and_culture/8331231.stm
YES WE CAN CONTINUS PMSL
Man Google and MS Word have killed my spelling ability continues*
@Phil
Looks like you may have been right about those Gold Options the central bank was holding?
I love this video though its from 2008 too funny
CLASSIFIED CLASSIFIED CLASSIFIED
ROFLPMSL
http://www.youtube.com/watch?v=LXfXuk6aWJc&feature=related
@Fibon11235 .. the day isn’t over yet.
Actually I was expecting a US$ move at earliest on Fri/Mon.
Watching banks … seems when they go up, the US$ goes down !
Re: Saudis abandon US oil pricing benchmark
Translation: this is a polite way of asking the US government to bomb them back to the stoneage. As Catherine Fitts says, “90% of the value of the U.S. dollar comes from the U.S. military.”
http://solari.com/blog/?p=1323
No Truth About Markets NZ this week?
Get your ‘Angry Mob Platinum Diamond Card’ now!
http://www.climatebabes.com/images/platinum.jpg
@Bonn … that Video was the best “CLASSIFIED” Video of Congress I’ve seen for a while !
I wonder of the Audit of the “CLASSIFIED” FED will be like that ?
Phil
do you have a you tube channel?
Mike
Seems like london will be around, being the Argus base..Does that mean a return to the pound as the global reserve currency?
@Phil
Just for you, talking about anti gravity devices lol.. I think Goldman got one that applies to markets. Super Financial Fluid Device lol Zero Inflation, infinite liquidity. lol It keeps going faster as there is not inflation taking us to infinite wealth lol
http://www.youtube.com/watch?v=Jr0CiHaXTLA
@ Bonn
A system based on gold will not in my opinion make the people running the system any more honest or ethical than they are now. So gold really in that sense is a scam as you say.
The only way to make the system honest is to prosecute the fraud in the FIRE economy. Not just a few scapegoats but all of them.
@ Phil
And i think the Last Classified was Global Government ROFL i bet i can if i want to waste my time find out all the Classifed words using my 6th sense ie common sense .ROFL dummasses Lunatics
And now Lets Vote on it ROFL
@Gordo
The only way to make the system honest is to prosecute the fraud in the FIRE economy. Not just a few scapegoats but all of them.
I TOTALLY AGREE
This all fits in with Webster Tarpley’s analysis. The Lehman failure was British financial warfare on the US, Tarpley also accuses Robert Fisk of being a British intelligence officer who planted the story of the US dollar being replaced for a basket of currencies by opec in 2018.
I don’t agree with Tarpely on everything, such as islamic terrorism, while much of islamic terrorism has been exaggerated, USED and channeled for British-American interests it still does exist and can be lethal as history tells us.
http://www.tarpley.net/29crash.htm
Interesting AIDS debate and big Pharma again
http://www.naturalnews.com/027355_AIDS_HIV_disease.html
@Fibon11235 .. Thx
@Mike .. Channel ?
As such No , but here are “some” of the people I’ve tagged to watch :
AlienScientist BreakTheMatrix bvongrabe DanHannanMEP DebTruth1 DreamsOfEmpathy eurogoldexchange FeverIAm fknnewz flaskofcoffee FraudDiscovery GeraldCelenteChannel InformedCitizenNews IWantDemocracyNow jberni1 jberni2 kdenninger keiseredge KGuy4U2Hugg MaxKeiserTV NYInvestingMeetup periodicvideos PeterSchiffChannel rattansifan RichardMaybury SolitonPL TheModernMystic ThePracticalInvestor TheRealNews TruthFN URInTheVillage vlogolution wepollock
If I was to do videos, it would be about Maths or the idiocy of IT managers. i.e. boring !
FWIW
testing testing
@Gordo – Prosecute ‘em.
No one has time or energy enough to care.
DeTocqueville in Democracy in America:
“When the taste for physical gratifications among them has grown more rapidly than their education and their experience of free institutions, the time will come when men are carried away and lose all self-restraint at the sight of the new possessions they are about to obtain. In their intense and exclusive anxiety to make a fortune they lose sight of the close connection that exists between the private fortune of each and the prosperity of all. It is not necessary to do violence to such a people in order to strip them of the rights they enjoy; they themselves willingly loosen their hold…These people think they are following the principle of self-interest, but the idea they entertain of that principle is a very crude one; and the better to look after what they call their own business, they neglect their chief business, which is to remain their own masters. “
@Bonn
Ever consider dialysis?
@ Illya Kuryakin
Did’nt get u Huh?
Um, dialysis = artificial kidney…you wouldn’t have to PMSL so much…
@Richard@lattitude30N
Britain no longer a AAA nation? It could happen, S&P warns
http://latimesblogs.latimes.com/money_co/2009/05/britain-was-put-on-notice-today-that-it-could-lose-its-aaa-credit-rating-because-of-massive-government-borrowing-a-warning-t.html
For the US, everything depends on keeping OPEC’s oil-for-USD policy in place.
@The Man from Glad: “AAA”….well that becomes the problem…the bond agencies ( Fitch, S & P, Moodys, and AMBIC ) were saved even though it was clear and apparent that they were committing fraud when they gave AAA ratings to all the sub-prime mortgage CDOs, MBSs, and other SUVs that they rated..so my guess is that they remain the pawns of their masters and will refuse to accurately rate anything for a very long time…remember it took awhile before JPMorgan stepped in and bailed Cali…even though it was very evident that they were bust( issuing IOUs???)…Each time a similar government institution faces a similar downgrading it is my opinion that an “angel investor” will surface…that’s the reason so much of the $23.7 trillion lies in wait….to facilitate an infusion when needed..thus the long drawn out demise of the dollar, the US government, the British government, and any other government on the brink of default…Iceland and Latvia and Ireland and any number of small scale countries may go first as they are manageable BUT when the big boys are about to sink…then the IMF, and BIS and will step in and initiate a new currency as they are progressing to now…in the meantime we low level peasants will suffer in a world of hurt…..As long as the PTB remain at the helm, this long drawn out rearrangement of the financial world will persist…the devaluing of the dollar and the pound and the euro and the yen are in sinct…the rising Oil price will give the OPEC nations their needed surplus capital to join in with a GCC( currency ) within a year..the Big Pharma & Big Insurance Cos. are being taken care of now with the New Obama Health Care legislation; and the Military Industrial Congressional/Security Complex has just been refunded once again..and Big AgriBusiness is still receiving all their subsidies.regardless of food quality…and on top is the banking Industry who will be back at the stimulus table comes Feb or March…also don’t forget the breathing tax…I mean the Cap and Trade legislation to limit CO2 emissions….a component of the growth cycle necessary for organic survival!!!!!!!! that is still to surface as another necessary drain on common folk…
@Youri Carma, Thanx. Until the other shoe drops, precious metals do seem the clearest path forward.
There can only be a free lunch for so long, eventually we’ll have to pay the piper for these decisions. And I feel that until the govt addresses the basic structural problems in our financial system of too much debt, we will not have a sustainable recovery. So while the stock market can stay irrational in the shorter term, in the long run I believe it will go back to reflecting the fundamentals of our boom and bust economy. And that’s why I continue to feel that for long term investors a better portfolio allocation is in cash and gold. I think the gold price will continue to rise due to a lack of faith in central banks’ policies and in fiat currencies. I recently read some very interesting articles on these topics at http://www.goldalert.com/, which discuss the relationship between the dollar, the gold price, and gold mining companies given the Federal Reserve’s monetary policies. I thought the article titled “What Gold Bubble? Setting the Record Straight?” was especially helpful for investors to read to get a better sense of the relationship between these asset classes in these uncertain economic times.