What really matters is something people are starting to consider, as inflation begins to rise, and which the S&P announcement alludes to: The colossal interest payments on the U.S. fiscal debt.
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ref. max keiser – Get 6 mo’s free storage
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Rick Ackerman-
- Karl Denninger – Market Ticker
- The Big Picture
- Mish
- David Morgan
- King World News
- SmartKnowledge
- GoldCore
- A Lightning War for Liberty
fiat money and the french revolution
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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)
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Interest on the national debt is the needless rent we pay for a money supply the US Government could create debt and interest free.
MAX – I NEED YOUR HELP WITH A PROBLEM.
am i right in assuming that loans are “digital” phoney fractional reserve money while the interest payments made by working folks on these loans are “real” money?
Dead Kennedys – We’ve Got A Bigger Problem Now
http://www.youtube.com/watch?v=PcgAmrwhKgc
@apache
You sir are correct!!! but it is paid in the form of fiat money so “real” is subject to a debate.
@apache,
Mike maloney does a great job of presenting this in this vid:
http://www.youtube.com/watch?v=uzef43gdupk
My understanding is the govt prints the money called base money and pays that to govt employees and contractors to the govt and any govt spending. The rest is made up on the spot e.g. using a credit card. That’s usually called M3, if you’re in the US you’ll have to go to shadowstats for a chart of that or if you’re in another country your central bank may have those stats on their website.
but it is paid in the form of fiat money so “real” is subject to a debate. jimmy chen
How “real” is a prison cell for non-payment of taxes? That is fiat’s only legitimate end use; the payment of taxes, fees and other government debts. In fact, pure fiat is the only ethical money form for that purpose – otherwise we allow private counterfeiting of government money.
The $ is still dying if it goes by 74.21
then it will look for support at 72 then 71 then
game over for the dollar and to the moon and beyond for Gold and Silver
Living through an economic collapse is getting very dangerous when people are losing it.
Homeless man stabs woman in face with a pen after she scolds his subway smoking
http://www.nydailynews.com/news/ny_crime/2011/04/19/2011-04-19_homeless_man_stabs_woman_in_head_with_a_pen_after_she_scolds_his_subway_smoking.html
“S&P announcement is meaningless—literally a non-event.”
Not realy cause economy is psychology like Maloney says and for markets psychology it’s a top event.
@apache
The only real money is worth it’s weight in relation to some commodities,
energy and/or services…
(and even then it’s good to keep on checking for fakes)
Paper & digital money are definitely the easiest to get
manipulated or changed in value.
Fed unveils proposal on mortgage standards
http://www.reuters.com/article/2011/04/19/us-financial-regulation-mortgage-idUSTRE73I49F20110419?WT.tsrc=Social%20Media&WT.z_smid=twtr-reuters_%20com&WT.z_smid_dest=Twitter
LOL … Closes the barn door after the horses have already bolted …3 years ago !
Actually, either …
a) the FED is just plain stupid
b) or the FED is evil
I tend to believe (b)
whats going on here then
Poetic Parity: One Ounce Of Silver Costs Same As One Share Of JPM
http://www.zerohedge.com/article/poetic-parity-one-ounce-silver-costs-same-one-share-jpm
http://www.zerohedge.com/article/poetic-parity-one-ounce-silver-costs-same-one-share-jpm
catch 22 bitchez !
@ Snoop Diddy
Good call on the Dead Kennedys.
GL
$420 Billion on 4/20. Yup, the treasury is indeed smoking the good stuff.
Indeed a nice chart,
Lets quote WALLST8MY8BALL:
‘When that line completes the X, Does Blythe Masters start to melt like the Wicked Witch in the Wizard of Oz?’
My understanding is the govt prints the money called base money and pays that to govt employees and contractors to the govt and any govt spending. The rest is made up on the spot e.g. using a credit card. snoop diddy
That’s how it should work but with a lender of last resort (the Fed), a crappy asset buyer of last resort (the Fed) and no genuine private currency alternatives, what we actually have is a government enforced counterfeiting cartel.
Nak, that’s not collapse, that’s just NYC.
When one puts together people of all socioeconomic strata in a confined space, you will get busybody statists mixed in with homeless schizophrenics. Eventually, the sparks will fly.
http://www.bbc.co.uk/news/business-13139996
But analysts were divided about whether the price could go higher and are waiting to see if trading in Europe and the US continues the momentum seen in Asia.
Jonathan Barratt, at Commodity Broking Services, said: “We often see a $20 rally after breaking a big number, then a pullback.
“We will see what Europe and United States do with this. $1,510 or $1,520 look possible, but prices are starting to look a little stretched up here.”
Typical MSM crap you know nothing.
Silver @ 44.71
JPM @ 44.73 – 9:42:18 AM EDT
@apache its not as black and white but in some sense yes, but in order to really understand you have to look at it on the level of energy. See they credit you account with the money you borrow by creating it from nothing but they dont credit your account with the interest. So however much of your time and energy it took you to accumulate that interest was wealth stolen by the banks from you. But its far far worse than just that.
Ive been writing about exactly this on my blog check it out.
http://danster82.com/2011/04/04/the-relinquishing-of-the-publics-right-to-issue-its-own-currency-part-1/
part 2 might make more sense though
Silver @ 44.70
JPM @ 44.48 – 9:52:43 AM EDT
silver!!
http://www.youtube.com/watch?v=jwJ4A5AmyMI
What does Max think of JIM Rogers/Silver?
Mike
interest sschminteresst… buy something shiny today! )
http://www.youtube.com/user/abstractduk?feature=mhum#p/c/5888BF8E2524A519/154/MnLJl3j_i-4
jpm plummeting
http://www.guardian.co.uk/technology/2011/apr/20/iphone-tracking-prompts-privacy-fears
I think I’m going to put mine in the bin.
jpm bouncing
this is better than x-box
The cumulative effect of usury. Shame on the U.S. govt. Shame on politics, on the ultra-rich. I do not support their agenda. I do believe in the power of the Constitution, and the Republic of The Continental United States, but will refuse to acknowledge the legislative democracy, the federal United States.They broke the trust with the sovereign people of America, They caused the debasement of the currency, They will be held accountable. Every single one of Them is gonna get kicked square in the nuts, cause I’m tired of getting kicked in the nuts, I’m tired of seeing my fellow countrymen getting kicked in the nuts, I’m tired of my parents and their friends and loved ones getting kicked in the nuts, get the picture kleptocracy? We, the People, are tearing down the walls of austerity and oppression, we will get the “to big to fail ” pigs out of our way. Fiat currency is done, too bad I don’t have the TIME anymore to bother with trying to earn it, I’ll just ask for silver and/or gold for my services, especially now.
and silver hits US$45 whamo!!
Ding!
Fiat currency is done, too bad I don’t have the TIME anymore to bother with trying to earn it, I’ll just ask for silver and/or gold for my services, especially now. Mattdog
You fiat haters just don’t get it. The usury class has screwed over people with gold and silver too. They will screw us over with any government enforced monopoly money supply for private debts.
How much better it is to get wisdom than gold! And to get understanding is to be chosen above silver. Proverbs 16:16 (New American Standard Bible)
@F. Beard. Good thing god doesn’t exist. Silver and Gold are real
Good thing god doesn’t exist. Jayme
Then neither shall you if you’re right.
Silver and Gold are real Jayme
For now. The Lord will create new Heavens and a new Earth. With new fundamental particles and elements?
Interest is peanuts when compared to rollovers of debt. Check out US Government expenditures for March, 2011. Government created + $ 900 billion more than it took in in order to cover mostly its financial rollover needs. Yes, the interest rate on our debt is killing us, but it is a much smaller parasite running around inside the US Economic Zombie than is the interest expense. In addition, there are numerous amounts of accounting fraud, off-budget items, smoke and mirrors trying to hide the real financial Armageddon that is bubbling and boiling. We are now on a steady diet of electronic zeros that provide no real solution. Please fasten your seat belts, this will be a crash landing and everyone will not survive!
@beard
Good story bro!
JP MORGAN LONG GOLD IN CHINA AND ASIA AND SHORT ON THE COMEX
“Meanwhile JP Morgan retain a concentrated short position in gold on the COMEX which is being investigated by the CFTC. This is a curious dichotomy and an explanation by JP Morgan’s Head of Commodities, BLYTHE MASTERS, would be interesting. Is JP Morgan long gold in China and Asia and short on the COMEX and to what purpose? This could be some form of hedging strategy or a way to accumulate bullion on the cheap in Asia.” http://www.commodityonline.com/news/China-should-increase-gold-reserves-J-P-Morgan-37895-3-1.html
@microhousehold
Blythe Masters of JP Morgue Rides The Silver Rocket http://dont-tread-on.me/blythe-masters-of-jp-morgue-rides-the-silver-rocket/
@apache Yes it is paid out of the database named “real money”
@F.Beard, Oh boy, stepped in it, did I not? I would rather trade, no actually I would love to be able to give you, or any of my neighbors a big basket of tomatoes that I grew myself, out of the generosity of my heart, than go through the rest of my life wondering how in hell am I going to stay on top of the modern living expenses imposed by a throw-away society. Austerity on a populace might sound like a good idea to limit the consumption of nonrenewable resources and food, but it won’t keep the more affluent from consuming all of it for their own benefit. I do acknowledge that fiat has allowed an incredible wealth spreading for multitudes of people, it has brought an amazing variety of goods to the common man and woman, commerce is truly a beautiful thing. But to have a currency that continues to lose purchasing power, through purposeful dilution, beyond the rate at which people can even populate the Earth, just doesn’t make sense, except to make me, along with others, work harder for less. I apologize if I sound selfish, and completely ignorant on the subject of the idea of fiat, I try like mad to understand these intricacies, obviously it flies over my head, but the fiat that I earn from my sweat and labor has been drying up more and more each and every year. I fail at being able to extort from my fellow man, but I am proud of that in some deep down place. Another American Sucker.
“I fail at being able to extort from my fellow man, but I am proud of that in some deep down place. Another American Sucker.” Mattdog
… if a man does not oppress anyone, but restores to the debtor his pledge, does not commit robbery, but gives his bread to the hungry and covers the naked with clothing, if he does not lend money on interest or take increase, if he keeps his hand from iniquity and executes true justice between man and man, if he walks in My statutes and My ordinances so as to deal faithfully–he is righteous and will surely live,” declares the Lord GOD. Ezekiel 18:7-9 (New American Standard Bible)
O.K. Look: Governments controlled with Gold but it was all kept in a vault and certificates of deposit were issued- the roots of paper money.
Gold and Silver represent WORK. It’s a beach to go into these mines, blast, load, then refine, stamp, much less the time to find it in the first place, college for mining engineers, geology…stamping, security…
The PM is small and weighable, can be divided, stampable–and you can’t roll it out of a printing press…ever! If there was something else it would also have all these attributes and can be used as a medium of exchange, tulip bulbs at one time and Maize (corn kernals) that were rare when brought to the Old World.
But the point of this story is Printing Press! And the boneheads that got it.
For Beard: the lord giveth and the lord taketh away—-
Easy Come……..Easy Go
But the point of this story is Printing Press! And the boneheads that got it. PB
The government should be free to print all the tax money the market will bear but the private sector should be free to escape any resulting price inflation by using genuine private money alternatives. If that were allowed then the government itself would have a strong incentively to spend wisely since only it and those who received its money would suffer if it did not.
JUST TURN THE PRINTING PRESSES UP TO 11
Options experation is next week on the Comex.
Could it be the are letting Silver and Gold run, so it over shoots and then crashes in a timely fashion next week? Interesting times, the Comex has to get these prices down (they have controlled the prices at expiration like clockwork up until now) unless things have actually “changed”.
it irks me no one is thinking of this, this being…all that US gvt debt in the system is, de facto, part of the money supply…negotiable instruments. Congress could “coin and regulate the value of money thereof” and print money into existance (digital equivalent of United States Notes), buy all the bonds back..no change in the money supply and the debt is gone. Then pass a balanced budget amendment, and/or adopt the American Monetary Act where Congress prints a fixed amount of money each year for education, infrastructure and health care. End of fucking story.