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Latest Comments93 Comments
Gold: The Next Reserve Currency Player
Hi Bill!
I have been trying to understand why there is no great sense of outrage among the general public over what has been ongoing for so long. The lifestyles for all of us are subject to decline as a result \of the actions of a few. Why have so many chosen to respond like sheep to the slaughter?
I now believe it is a question of mass denial. People understand that things are not good in the overall economy. But so far it is the other guy that has been hurt. Most people still have their jobs. Most people are still paying their mortgages. Credit card balances are high for the average person, but most bills are still getting paid. Our highways are still choked with SUVs. Overall, things are still pretty good on the surface. And even while the government announces one massive bailout plan after another, and the printing presses are running around the clock to pump money into the system, people are still not seeing any of the consequences from that. Yet... People still choose to believe the lies that are the official inflation numbers. It is easy to pretend that all of that debt that has been created on the national level will not have to be repaid, will not have a direct impact on individual lifestyles. Today, as the great annual treck to the mall is underway, I wonder how many people have begun to question how much longer this sort of thing can go on for?
The mainstream media have been telling us exactly what we want to hear, and we all really want to believe them. How many times have we been told that the problems are going to be contained? How many times were we advised that the markets had found a bottom? How many senior people from individual companies have appeared on TV to tell us their companies were in great shape? No matter how many times we hear all of these lies, we want to believe them and so no one is going to be too concerned. A new president has been elected on the basis of telling people exactly what they want to hear. He sold change, and somehow implied that the good times would be preserved without any cost. People loved it and really want to believe.
Sooner or later however the fallout is going to start hitting closer to home. Eventually, every one of us is going to be negatively affected by all that is going on, whether we are told the truth or not. No matter how much we all want to believe the lies, the consequences are the elephant in the room that cannot be ignored forever. And then, I think all that outrage is going to be expressed.
As long as it is only the minority that is facing the loss of their jobs, their homes, bankruptcy, etc. then its easier for the rest of us to pretend that things will be okay. When things have degraded to the point where the majority of us are tightening belts and facing serious financial problems; when inflation is forcing the average person to make difficult choices on what they can afford; when unemployment is running at double-digits; when the compounded interest of an ocean of debt has pushed people to the point where they can no longer make payments on their bills; when it finally dawns on the average person that all of that bailout money injected into the system did not make the big problems go away... THEN, we will see a collective sense of outrage that has been sadly lacking all the way through this mess. Unfortunately, I suspect it will be too late.
So here we are today. I cannot count the number of times that the gold spot market tried to rally above $815 and was severely pushed back down over the last 2 days. When a serious terrorist event occurs in the largest gold-friendly country in the world, one would expect that gold prices would surge. And that is exactly why gold has been so obviously and firmly capped. And since so few of us are willing to rise up and denounce the market rigging right now, and no one wants to see what is happening in real time in full view, and we all want so badly to believe the lies that they are telling us on TV, then nothing is going to change.
Now people like Dennis Gartman want to chuckle and suggest that goldbugs want to see bad things happen. What he fails to understand is that things are going to happen whether we want them to or not. We can choose to run with the herd and pretend that everything will be just fine. Or we can assess the situation and take appropriate steps now while there is still an opportunity to buy a degree of protection. The outrage is coming. Drawing a line in the sand and capping gold may keep the sheep in denial for a while longer but it will not halt the fallout from a decade of economic and financial stupidity on an unprecedented scale.
It is refreshing to see that Peter Schiff is now getting some measure of respect for having called the market correctly. Remember how they laughed at him early on when he tried to warn people what was coming? Now there is a video on YouTube where his comments have been highlighted along with the rebuttal from the bozos on CNBC and they are not laughing now. The denial phase is coming to an end soon Bill, and I hope then you may also get a measure of respect for your work to expose the gold manipulation scam. Gartman and Co. will eventually find that the smug arrogance they directed towards the goldbugs was misplaced. For now, its just groundhog day again.
cheers!
MexicoMike
Gold: The Next Reserve Currency Player
Most truly seem to believe the lie that "it can never happen here"...this is the YOOOnited States of America, after all!! And oh, BTW, there never was a Great Depression either...nor hyperinflation in Venezuela or Germany within the last century. Those were just myths to these people, conspiracy theories thot up and stuck into textbooks by the "nuts" to scare people...or if they were real, it's only b/c they were stoopid furreners and not us smart Amuricans. I say give him another beer...let ignorance be bliss as long as possible for him and them...b/c as much as they are ignorant blowhards before the fact, they are even bigger whiners and complainers after...so keep them happy blowhards for as long as possible.
And I can only agree about the ETFs being useful in terms of VERY short term investment vehicles...almost akin to futures trading. Who knows how fast the dollar will drop over the cliff when it does, or how fast the global devaluation or revaluation of the dollar could happen, or when force majeure could be declared on the COMEX. If those things happen fairly closely together, there's a chance those in the ETFs would get back only paper money that is very rapidly devaluing at the same time the prices of silver and gold are skyingrocketing. Best have a good hoard of real money first...physical silver and gold...before putting needed funds, for now or the future, into the ETFs...or really paper equities of ANY kind. jt
On Nov 30 12:59 PM Georealist wrote:
> Interesting comments..especially Mr. Lathrops..apparently he thinks
> we should stupidly stare at trillions in potential liquidity andmay..well..go
> play golf. The Gulf States taking steps to protect themselves sounds
> very reasonable to me...their geographic location is enviable and
> they have the monetary heft to carefully pull it off.
> Nothing wrong with the ETF metals funds...a physical position is
> always the best foundation but sometimes not the easiest to trade.
> If any of this gets further than speculation..and it has a very good
> chance of doing so...silver could e the biggest winner yet.
Lock in Low Gas Prices
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Lock in Low Gas Prices
And with the wimps and bought off politicians we now have (with rare exceptions like Ron Paul of Texas), along with the flat out congressional socialists (who would be called by their more accurate title of Marxists were they outside the US) who's to stop them? Certainly not Barack and his coming Obamination of a Presidency. His planned policies will only add MORE fuel to the bonfire and remove more of our Constitutional rights to prosper thru hard work. I love this cartoon from a week or so ago...you might have seen it. It's a from the Wizard of Id series, if I can copy it here:
caseyresearch.com/dIma...
On Nov 29 10:12 AM paulk8756 wrote:
> Now we're asking the same people who created it to save us from Government
> Gone Wild. I think there's a word for that....
Price Discovery for Precious Metals
Do you have better links?
TIA,
jt
Gold Opportunities
GLD's not bad for a very temporary investment, but eventually, the most you're going to get from it are dollars...that need to be put somewhere. At least if you're going to go that route, put them immediately into physical gold and silver. Or open a goldmoney acct. Forewarned is forearmed...good luck. jt
Five Questions on Gold for the House Banking Committee
BUT...now let's use some brain energy beyond 5th grade level. Let's suppose I and tayzerbrain are shipwrecked and land on this desert island. I happen to have managed to hang on to the 50 gold coins I brot with me, and raytay managed to save a portfolio of US Treasuries, some corporate bonds and $30K in $100 Fedl Reserve Notes (aka, 100-dollar bills). We explore the island...he wants to split up since his disgust for a goldbug prevents his being able to tolerate my company. He goes to one side of the island and I to the other. We soon find out there is water, but no fruit or veggies. We make spears and learn to catch fish, but no fruit or veggies...we can feel scurvy and all sorts of other deficiency states coming on.
One day a few weeks later comes a group of 3 outrigger canoes carrying natives from a nearby island. We notice gold chains and earrings on the leader. We talk with them and learn that they have plenty of fruit and grow veggies on an island about 10 miles away. Dr Razmatayz offers them $10,000 cash and another $10,000 in Treasury notes for a canoe full of fruits and veggies. The leader bites the paper and spits it out. His bodyguard raises a spear to skewer this white boy who'd dare insult his leader with pieces of worthless paper.
But I, not wanting a stinking corpse on this rather small island (though I thot for a moment of the possibility of a corpse perhaps attracting some vulture-like creatures that I could catch and cook...but let the thot go), stepped up and showed them a gold coin I was holding in my hand. Their eyes lit up. I handed one to the leader's bodyguard, who looked at it, bit it, and handed it to his leader. His leader smiled at me and nodded. I found he spoke a little Portuguese and I learned that every once in a while an ocean-going vessel stopped at his island. I offered to give him 4 more gold coins if he would take me to his island and that I could show him where to find more if he would promise to give me food and shelter until a ship came to rescue me. (I had already hidden the gold coins at various places on the island and had made a secret map to remind myself where they were hidden.) Once again the leader nodded and smiled and said..."done, I accept deal (in portuguese, of course)." The leader then pointed at the forlorn and frightened tayzdudeguy and his bodyguard once again raised his spear as though to finish him off. But once again I stepped in and offered that he was a very talented toilet cleaner, and could be put to useful service on their island. He was bound a gagged and put into one of the canoes, and we headed off for the other island.
So you can see from this adventure...better gold than paper. I hope you are duly warned Herr Dr TayzerRayzer...it could save your life some day!!! '-) jt
On Nov 21 10:56 AM raytayzmd wrote:
> ...gold is nothing more than a form of currency -- supply goes up
> and purchasing power goes down...mining it, melting it, pulling fillings
> -- whatever increases supply decreases demand...same for silver,
> copper, lead, molybdenum, iron, toothpicks, what have you...goldbugs
> live in some sort of fantasy world where they believe in a creature
> called "intrinsic value"...but imagine if there were nothing on this
> island but gold and everyone was starving...if you had a cellar full
> of food, would you trade it for all that gold?...also, what more
> do you want to know about the reserves:
>
> www.fms.treas.gov/gold...
Gold Miners: Amazingly Cheap
OPEC to Cut Production at Friday Meeting, but Will Prices React?
Go look at JPMorgain4Elites and their derivatives book. They are more or less now the pseudoprivate/public trading face of the Fed as co-owners, and likely are impervious now to any fraud or criminal charges as they would probably claim "national interest.". They now have over $100 Trillion (yes with a "T") in derivative risk...and if you look farther, most of it is shorts against the entire commodities complex...they hold nearly 90% of the short position against gold and silver for instance on the CRIMEX.
The CFTC was set up to prevent such manipulative positions. They certainly have in the past made a big to-do about "long" manipulative positions, and there was one copper short that had to get religion quick as I recall, but o/w the CFTC has not only allowed it, but when it has been repeatedly pointed out that these short positions are manipulative to the max, have stated they looked into it and found NOTHING amiss. Kinda like a cop watching mafioso bullies beating up a shopowner who's trying to make an independent living w/o buying "protection" and reporting that he saw "business as usual"...nothing noteworthy.
JPM singlehandedly brot down NG futures and then hanged Amaranth out to dry with their long position on NG (esp after Amaranth doubled down their position). JPM then bought up their positions on the mega-cheap and actually hired some of their top people.
This is govt and Shadow govt bankster manipulation of markets. This isn't real world where little has changed in the supply / demand dynamics. And that goes for the entire commodities complex. This is the takedown before the election combined with the gangster banksters doing "everything at their disposal" ...as was stated by their Mafia head here in the States, Comrade HankyPanky Paulson...to keep the sheeple people from taking their money out of the stock market and dollars and putting into the only historical store and preserver of wealth: gold (and silver), esp as the financial system reveals its inner corruption and putrefication.
The rest is just the politicoeconomic MSM (mainstream media) farcical drama given to the sheep to keep them entertained and glued to their TVs while the banksters rob them blind.
jt
Stagflation or Deflation?
Despite what our fraudulent fiat system and its rulers are doing to most Americans, and actually to the working citizens of nearly ALL countries, most will choose to believe the lies, the spin, the Goldilocks fantasy tale continually spun out to a gullible public by those who have become sickenly rich from it. WAKE UP!!!!! You are in the final chapters of the Fall of the American Empire, and you don't even know it!!!!
Philman, I agree with most of what you say, except that you are absolutely wrong about the fact that we are no longer on a gold standard. That is a lie TPTB want you to believe. We are and always HAVE been on the gold standard. If not, the only value gold would have would be the value industry gave to it for its various industrial applications, or that jewelers gave it...and it's valued WAY above that. Gold is and has been money for millenia.
The fraud of fiat currency is not new...it has been perpetrated on its people by many govts. And the outcome has ALWAYS been the same...collapse of the paper and return to some sort of a gold standard. But we are now in the worst financial / monetary crisis in the history of the world for the simple reason that the fiat fraud is so widespread, involving as it does essentially the whole world, being perpetrated for decades and even centuries now by the banker family of all bankers, the Rothschilds, who still control from ShadowLand nearly 1/2 of the world's wealth, and with that wealth its governments. As Nathan Mayer Rothschild boasted in 1815--""I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man who controls Britain's money supply controls the British Empire, and I control the British money supply."
Just as an aside, before we attacked Iraq, there were only 7 countries in the world w/o a Rothschild family controlled central bank--Iraq, Afghanistan, Iran, North Korea, Sudan, Cuba, and Libya. Now there are only five: Iran, North Korea, Sudan, Cuba, and Libya. jt
Four Reasons Why Gold's a Slam Dunk Investment
Gold Is Nocturnal Too: Daytime vs Overnight Performance
How to Explain Fiat Currency to Silverbugs
Is This the Death of Gold & Silver Stocks?
Gold Train: All Aboard
We've discussed it as a group and are all agreed that YOU most certainly should buy dirt instead...we have a few other people in mind for this cheap worthless gold, so if you wouldn't mind, please don't buy any of it. And we would encourage you to take very good care of that dirt as we fully intend to revisit this topic in say 3-5 years and relieve you of ALL the dirt you've amassed at that time for a few oz of worthless gold.
Don't get dirty...