In pointing at "causes" of the Wall Street "Ponzi scheme", Geithner somehow forgot to mention his own role - as the blind/deaf/dumb president of the New York Fed, who was the PRINCIPAL regulator for these criminals, and obviously the MOST negligent actor in this crime-spree.
Can the U.S. Save the World? (House Testimony) [View article]
The U.S. was ALSO initially supportive of creating a new, IMF currency. This has NOTHING to do with "helping" other countries (LOL!!), and EVERYTHING to do with flooding the world with more "paper".
High "inflation" (i.e. a rapid devaluation of the USD) is the only way to devalue the REAL size of the U.S.'s out-of-control debts and deficits - and postpone a Soviet Union-style debt implosion. Thus the U.S. has been BEGGING every country in the world to ramp-up "stimulus" spending and money-creation - to levels which would be extremely destructive over the long-term.
Is this ALSO a U.S. attempt to "help" other countries? Lol!
Commodities Demand Will Benefit Canada and Australia [View article]
Good point, ValueInvestor - although the Russian economy 'frightens' me in a couple of ways.
First there are the demographics, a declining population with a horrific life-expectancy, and then there are the ever-present "oligarchs", who impede most broadly-based economic progress in Russia.
On May 13 01:57 PM ValueInvestor wrote:
> You should add Russia to this article. They would also benefit greatly > from increases in commodity prices. > > Very similar to Canada, 80% of their exports are Oil, Nat. Gas, Metals > and Lumber.
Sorry, but this "rally" is 50% propaganda, and 50% Plunge Protection Team. It sounds like you could use a large dose of REALITY.
I recommend John Williams' site: shadowstats.com. Take a look at REAL numbers - and that should be all it takes to bring you back to Earth.
The U.S. housing collapse isn't half-over, and forget about ridiculously fabricated employment "statistics", the U.S. is actually on course to lose 20 MILLION jobs, this year alone.
Finally, the U.S. government cannot AFFORD for this "rally" to continue - as it would result in the Treasuries "bubble" deflating - as people move out of bonds into equities.
The U.S. government CANNOT prop up the USD, the bond market, AND equities all at once.
What Type of a Corner is the Economy Turning? [View article]
Anyone who parrots what Ben Bernanke says obviously does not have a clue what is going on in the U.S. economy.
The fact that the U.S. economy is plummeting downward at a SLIGHTLY lower rate is not even remotely suggestive of an "economic recovery" (the 5th "recovery" which Bernanke has already predicted).
Not only is there ZERO chance of a U.S. "economic recovery", but the U.S. will soon start ACCELERATING downward again - as there is simply no STRENGTH of any kind in the U.S. economy - other than Plunge Protection Team-boosted equity markets.
Wall Street Allowed to Grade Itself in Stress-Test Sham [View article]
Cetin, no I would not purchase SKF. Being from Canada, to buy into that I would have to use USD's. And I will not put a penny in any USD-denominated asset - since the upcoming 'crash' in the USD has already been telegraphed by the Obama regime.
On May 11 04:19 AM Cetin Hakimoglu wrote:
> Would you consider purchasing ultra short financial ETFs since you're > so convinced the situation is dire? Seems like easy money to me because > you know the answers and the market is wrong.
Wall Street Allowed to Grade Itself in Stress-Test Sham [View article]
Boisterousbob, for all those years up until 1971, this system operated with a gold standard, or a quasi-gold standard. In less than 40 years since Nixon defaulted on the U.S.'s gold obligations and the gold standard was abolished, the banksters have effectively destroyed the system through their own greed and recklessness.
On May 11 06:20 AM boisterousbob wrote:
> "brought in this spring to rescue the U.S. financial crime syndicate > from seeing their shares take another plunge below previous lows." > > > You mean, introduced in November 2007 and restored to the previous > model in April 2009. > > I take a different view. I think the temporary change to the accounting > rules via FAS157, which was reversed in April, was a significant > contributor to the meltdown in the financial sector. > > I am not suggesting there were no other problems, of course there > were. However, reminding you of context, banks had existed successfully > on a fractional reserve model since the late 1600's with accounting > rules more similar to those we now have.
Gold and Economic Freedom: Reinterpreted for the 21st Century [View article]
Superb analysis, but there was one 'ingredient' missing - hence the questions from Fireball and Capt Brian.
The OTHER reason why bankster-oligarchs needed to assassinate the gold standard was that this era of "easy money" (the money is "easy" because it's worthless) allows the banksters to ENSLAVE people with debt which is SO easy to accumulate, but so hard to get rid of.
Yes, Fireball and Capt Brian, you can achieve PARTIAL "economic freedom" through avoiding debt, but TOTAL "economic freedom" can only be achieved through converting a significant portion of your wealth into gold and/or silver - to PROTECT its purchasing-power.
Gold and Economic Freedom: Reinterpreted for the 21st Century [View article]
To FatCat (and others), gold demand is now driven ENTIRELY by investment demand, and for the FIRST time in modern history (and perhaps ever), investment demand will EXCEED jewelry demand this year.
Dollar's Purchasing Power Annihilated - The Chart They Don't Want You to See [View article]
I won't bother addressing the huge mound of rubbish in this thread, but will focus on three valid points which were made:
1) (Machievelli999) The reduction in the standard of living in the U.S. (and ALL Western countries, for that matter) has been caused by an attack on working people. True. This has been accomplished primarily through lying about unemployment. We live in an era of PERPETUALLY high unemployment (NEVER below 10%). This permanently depresses wage demands AND has been instrumental in destroying labour unions.
2) The purchasing-power of Americans (and people of all other Western, banker-dominated economies) has been destroyed. The MEANS to accomplish this was leaving the "gold standard" - since it is impossible to engage in this degree of currency dilution while ON a "gold standard.
The REASON why the USD (and other currencies) have been destroyed like this is to increase the money-supply and BORROWING to the point where the American people are now economically-enslaved by the same banksters they now despise.
3) Gold and silver are the best "antidotes" for these poisonous policies. An ounce of gold is was it is. It can NEVER go up in value. The reason that the PRICE of an ounce of gold is no longer $30 - as it was when the Federal Reserve was created was because gold CANNOT be debauched, and the (private bankers of the) Federal Reserve cannot be trusted!
The Fed's policies are far more reckless today than at any time in its history. The fact that for a period of a few MONTHS the USD is not showing this horrific decay should not lull anyone into complacency.
You can buy your ounces of gold TODAY at under $1000, or you can wait for a couple of years and TRY to find some under $2000/oz.
More Than 1 in 5 U.S. 'Homeowners' Actually Own Nothing [View article]
Sober Realist, as a cause of the housing "bubble", don't forget the U.S. tax deduction for mortgage interest - which is not the case in other countries.
This subsidy artificially drove enormous amounts of ADDITIONAL capital into this sector. This was all the more reason why the Fed was INTENTIONALLY 'negligent' in not arresting the growth of this "bubble" sooner - restoring U.S. interests rates to historical norms MUCH sooner.
On May 08 06:45 PM Sober Realist wrote:
> Jeff, > I have heard several notable economists proclaim that an "across-the-board > mortgage reduction" is needed for those who bought during the housing > bubble. Sounds like a good idea, but then the financial oligarchs > wield too much power for that idea to get any real traction. The > whole irony of the housing bubble is that it was caused by the U.S. > government ("lower lending standards to allow housing for everyone," > i.e. social-engineering) and the Federal Reserve (decades long policy > of abnormally low interest rates to goose the economy, creating bubbles). > Now these are the same people trying to fix the problem by making > the average U.S. citizens pay for it through tax payer subsidized > government bailouts. The financial elites and politicians make the > little guy pay during the creation of the bubble and in the clean-up > of the messy collapse that followed. If the unwashed masses truly > understood this, we'd have a revolution the next day.
Calvin C., since this my post, let me reply to you:
1) Inflation? - see above
2) If gold (and silver) prices were "so easy to manipulate", then why is gold still not at $300/oz, and silver at $4/oz? The fact is that it is taking increasing amounts of bullion and ever more extreme (and illegal) acts of manipulation just to stop PM's from rising even faster.
3) Gold being in "limited supply" is (by definition) one of the most "bullish" indicators for ANY commodity or good.
4) Gold was not "dead" for 20 years, it was victim of the largest, most extended commodity-manipulation in history - which is precisely why it will now go many multiples higher. The longer you artificially depress the price of a good, the higher it bounces when such manipulation inevitably fails.
5) The U.S. dollar? It is RAPIDLY losing its "reserve currency" status, it is guaranteed to 'crash' when the U.S. Treasuries "bubble" bursts - and it's essentially worthless already, since the U.S. is hopelessly insolvent.
In short, Jamie Dlugosch appears to know NOTHING about the gold market.
Desert Rat, it's too bad you didn't read my WHOLE comment before replying.
There are currently close to 3 MILLION lay-offs each month, and (at best) a little more than 1/2 million new positions created each month (about half as many as last year).
This means NET job losses in the U.S. MUST be more than 2 MILLION per month.
On May 08 03:04 PM DesertRat87 wrote:
> Because it is a figure net of people becoming employeed again. The > layoffs is strickly a negative value with no off-setting hiring. > > > Go back to school...
Job Numbers from the Bureau of Spurious Statistics [View article]
Let's plug-in some REAL numbers here. Last year, when weekly layoffs were around 300,000 (for a total of 1.25 million/month), the U.S. economy was already LOSING JOBS (on a net basis).
This means when the U.S. economy was MUCH stronger, it was producing about 1 million positions per month. Given the crash which has occurred in the last 6 months, there can not POSSIBLY be much more than 1/2 million new positions per month (subject to occasional 'blips', like census jobs).
This means that on a NET basis, monthly job losses in the U.S. MUST be greater than 2 MILLION per month. Any number not close to that simply doesn't add up.
Easy Money Did Us In - Geithner [View article]
Tim-the-tax-cheat Geithner has ZERO credibility.
Can the U.S. Save the World? (House Testimony) [View article]
High "inflation" (i.e. a rapid devaluation of the USD) is the only way to devalue the REAL size of the U.S.'s out-of-control debts and deficits - and postpone a Soviet Union-style debt implosion. Thus the U.S. has been BEGGING every country in the world to ramp-up "stimulus" spending and money-creation - to levels which would be extremely destructive over the long-term.
Is this ALSO a U.S. attempt to "help" other countries? Lol!
Commodities Demand Will Benefit Canada and Australia [View article]
First there are the demographics, a declining population with a horrific life-expectancy, and then there are the ever-present "oligarchs", who impede most broadly-based economic progress in Russia.
On May 13 01:57 PM ValueInvestor wrote:
> You should add Russia to this article. They would also benefit greatly
> from increases in commodity prices.
>
> Very similar to Canada, 80% of their exports are Oil, Nat. Gas, Metals
> and Lumber.
This Rally Is Sustainable [View article]
I recommend John Williams' site: shadowstats.com. Take a look at REAL numbers - and that should be all it takes to bring you back to Earth.
The U.S. housing collapse isn't half-over, and forget about ridiculously fabricated employment "statistics", the U.S. is actually on course to lose 20 MILLION jobs, this year alone.
Finally, the U.S. government cannot AFFORD for this "rally" to continue - as it would result in the Treasuries "bubble" deflating - as people move out of bonds into equities.
The U.S. government CANNOT prop up the USD, the bond market, AND equities all at once.
What Type of a Corner is the Economy Turning? [View article]
The fact that the U.S. economy is plummeting downward at a SLIGHTLY lower rate is not even remotely suggestive of an "economic recovery" (the 5th "recovery" which Bernanke has already predicted).
Not only is there ZERO chance of a U.S. "economic recovery", but the U.S. will soon start ACCELERATING downward again - as there is simply no STRENGTH of any kind in the U.S. economy - other than Plunge Protection Team-boosted equity markets.
Wall Street Allowed to Grade Itself in Stress-Test Sham [View article]
On May 11 04:19 AM Cetin Hakimoglu wrote:
> Would you consider purchasing ultra short financial ETFs since you're
> so convinced the situation is dire? Seems like easy money to me because
> you know the answers and the market is wrong.
Wall Street Allowed to Grade Itself in Stress-Test Sham [View article]
On May 11 06:20 AM boisterousbob wrote:
> "brought in this spring to rescue the U.S. financial crime syndicate
> from seeing their shares take another plunge below previous lows."
>
>
> You mean, introduced in November 2007 and restored to the previous
> model in April 2009.
>
> I take a different view. I think the temporary change to the accounting
> rules via FAS157, which was reversed in April, was a significant
> contributor to the meltdown in the financial sector.
>
> I am not suggesting there were no other problems, of course there
> were. However, reminding you of context, banks had existed successfully
> on a fractional reserve model since the late 1600's with accounting
> rules more similar to those we now have.
Gold and Economic Freedom: Reinterpreted for the 21st Century [View article]
The OTHER reason why bankster-oligarchs needed to assassinate the gold standard was that this era of "easy money" (the money is "easy" because it's worthless) allows the banksters to ENSLAVE people with debt which is SO easy to accumulate, but so hard to get rid of.
Yes, Fireball and Capt Brian, you can achieve PARTIAL "economic freedom" through avoiding debt, but TOTAL "economic freedom" can only be achieved through converting a significant portion of your wealth into gold and/or silver - to PROTECT its purchasing-power.
Gold and Economic Freedom: Reinterpreted for the 21st Century [View article]
Dollar's Purchasing Power Annihilated - The Chart They Don't Want You to See [View article]
1) (Machievelli999) The reduction in the standard of living in the U.S. (and ALL Western countries, for that matter) has been caused by an attack on working people. True. This has been accomplished primarily through lying about unemployment. We live in an era of PERPETUALLY high unemployment (NEVER below 10%). This permanently depresses wage demands AND has been instrumental in destroying labour unions.
2) The purchasing-power of Americans (and people of all other Western, banker-dominated economies) has been destroyed. The MEANS to accomplish this was leaving the "gold standard" - since it is impossible to engage in this degree of currency dilution while ON a "gold standard.
The REASON why the USD (and other currencies) have been destroyed like this is to increase the money-supply and BORROWING to the point where the American people are now economically-enslaved by the same banksters they now despise.
3) Gold and silver are the best "antidotes" for these poisonous policies. An ounce of gold is was it is. It can NEVER go up in value. The reason that the PRICE of an ounce of gold is no longer $30 - as it was when the Federal Reserve was created was because gold CANNOT be debauched, and the (private bankers of the) Federal Reserve cannot be trusted!
The Fed's policies are far more reckless today than at any time in its history. The fact that for a period of a few MONTHS the USD is not showing this horrific decay should not lull anyone into complacency.
You can buy your ounces of gold TODAY at under $1000, or you can wait for a couple of years and TRY to find some under $2000/oz.
More Than 1 in 5 U.S. 'Homeowners' Actually Own Nothing [View article]
This subsidy artificially drove enormous amounts of ADDITIONAL capital into this sector. This was all the more reason why the Fed was INTENTIONALLY 'negligent' in not arresting the growth of this "bubble" sooner - restoring U.S. interests rates to historical norms MUCH sooner.
On May 08 06:45 PM Sober Realist wrote:
> Jeff,
> I have heard several notable economists proclaim that an "across-the-board
> mortgage reduction" is needed for those who bought during the housing
> bubble. Sounds like a good idea, but then the financial oligarchs
> wield too much power for that idea to get any real traction. The
> whole irony of the housing bubble is that it was caused by the U.S.
> government ("lower lending standards to allow housing for everyone,"
> i.e. social-engineering) and the Federal Reserve (decades long policy
> of abnormally low interest rates to goose the economy, creating bubbles).
> Now these are the same people trying to fix the problem by making
> the average U.S. citizens pay for it through tax payer subsidized
> government bailouts. The financial elites and politicians make the
> little guy pay during the creation of the bubble and in the clean-up
> of the messy collapse that followed. If the unwashed masses truly
> understood this, we'd have a revolution the next day.
Gold Has Not Begun to Shine [View article]
1) Inflation? - see above
2) If gold (and silver) prices were "so easy to manipulate", then why is gold still not at $300/oz, and silver at $4/oz? The fact is that it is taking increasing amounts of bullion and ever more extreme (and illegal) acts of manipulation just to stop PM's from rising even faster.
3) Gold being in "limited supply" is (by definition) one of the most "bullish" indicators for ANY commodity or good.
4) Gold was not "dead" for 20 years, it was victim of the largest, most extended commodity-manipulation in history - which is precisely why it will now go many multiples higher. The longer you artificially depress the price of a good, the higher it bounces when such manipulation inevitably fails.
5) The U.S. dollar? It is RAPIDLY losing its "reserve currency" status, it is guaranteed to 'crash' when the U.S. Treasuries "bubble" bursts - and it's essentially worthless already, since the U.S. is hopelessly insolvent.
In short, Jamie Dlugosch appears to know NOTHING about the gold market.
More Than 1 in 5 U.S. 'Homeowners' Actually Own Nothing [View article]
With the additional foreclosures and "walk aways" this year, that number is now obviously above 20 MILLION.
Ever More Unemployment [View article]
There are currently close to 3 MILLION lay-offs each month, and (at best) a little more than 1/2 million new positions created each month (about half as many as last year).
This means NET job losses in the U.S. MUST be more than 2 MILLION per month.
On May 08 03:04 PM DesertRat87 wrote:
> Because it is a figure net of people becoming employeed again. The
> layoffs is strickly a negative value with no off-setting hiring.
>
>
> Go back to school...
Job Numbers from the Bureau of Spurious Statistics [View article]
This means when the U.S. economy was MUCH stronger, it was producing about 1 million positions per month. Given the crash which has occurred in the last 6 months, there can not POSSIBLY be much more than 1/2 million new positions per month (subject to occasional 'blips', like census jobs).
This means that on a NET basis, monthly job losses in the U.S. MUST be greater than 2 MILLION per month. Any number not close to that simply doesn't add up.