The Prudent Investor

The Prudent Investor
Contributor since: 2005
That Greenspan interview was done in 2007, 4 months after the beginning of the subprime crisis.
Most banks, Austrian Mint, Schoeller M├╝nzhandel, Schellhammer & Schattera, Direktanlage Bank
They will also assist you with VAT matters.
I wondered too and that's why I pointed it out, only discovering the explanation through the link in earlier comments.
Blog comments not working? Strange, as I receive a daily dose of spam comments:(
Thx for link to this explanation.
So it is an accounting gimmick that still has implications a banks have to raise equity for this on-balance-sheet transaction.
79 Common Sense Reasons For a Gold Standard
prudentinvestor.blogsp...
Does your lady prefer paper or gold around her neck or on her fingers? That demand will never cease as half the world (females) intuitively prefer gold.
It has always been this family jewellery saving people from starvation in extreme economic downturns. And they always found a buyer for it.
That's an interesting thought. Would not mind it as I always had the view that assessing risk is the core business of a bank and rating agencies are expensive scapegoats for them.
Thx, will keep this in mind for a future post.
Very briefly: The ECB was also designed to buy/sell government bonds but has reacted to the crisis like the Fed by expanding the list of eligible collateral to MBS and it can hide other market prop-ups in its position of other assets in the balance sheet.
Aug 17, 2007
DISCLOSURE:
Long term holder of Alexco, Endeavour, Impact Silver, Orko, Southern Silver, Silvercrest, Silver Wheaton.
Long silver bullion and ZKB silver ETF.
Sir, please could you detail your criticism about wrongs facts and correct them in a comment. Thank you. Otherwise this comment gets Troll status.
@USisCorrupt: Pls check my blog as I have been recommending gold since 2005.
Sorry for multiple post of my comment.
Just to clarify: Germany's Bundesbank sells a few tons every year to the German mint for production of collectors coins.
Just to clarify: Germany sells a few tons of gold every year to the German mint for collector's coins.
Just to clarify: Germany sells a few tons for collectors coins every year.
just give me some time to come up with evidence
On Sep 01 05:23 PM Dave Wrixon wrote:
> Well, just because the IMF is clueless, you cannot jump to the same
> conclusions about the ECB.
>
> For years the Yanks have accused the ECB of being overly cautious,
> keeping interest rates too high and the money supply too tight.<br/>
>
> You cannot have it all ways. Where is your proof?
Sorry for the bad link. Yoiu can download the PDF here:
www.4shared.com/file/1...
You only talk about possible charges. Did he get indicted for anyone of those?
On Jul 27 10:21 AM whidbey wrote:
> Your credibility is shot to hell when you have to compare Spitzer
> to Bush to justify your harping on his nonsense attempts to re-enter
> the public scene..
>
> Spitzer resigned for real reasons like possible charges of lying
> to investigators, hiding payments to his lady of the evening and
> possibly defrauding his family business, federal tax fraud, trafficing
> for immoral purposes, the Man Act. Oh yow, questionable moral character
> in public office, and the terrible image of a prosecutor, State Atty
> general violating every law he enforced.
>
> Now the meat does he know anything about the Fed? I think he proved
> he does not. and makes you a real disgrace to SA.
paer losses? all of them
On Jul 09 11:40 AM wpdragon wrote:
> Eastern Europe - ugh.
>
> Another shoe to drop, and how many big European banks have huge paper
> losses there?
The bankrupt Western world sells its last true asset to be left over with mountains of paper and the Chinese are happy to get rid of their dollar paper assets in return for the ultimate cash since 6,000 years.
Hey great; we have a functioning free market here where the interest of both buyers and sellers are met. As to the wisdom behind the strategies of both parties involved I tend to see the Chinese winning the race of global redistribution by many horse-lengths.
In order not to clog comments, pls read more at prudentinvestor.blogsp...
To your well balanced post on financial blogging I want to add just one thing.
Most commercial media do not permit comments on their sites whereas only a few bloggers like CNBC's Larry Kudlow adhere to the same system in order to avoid justified criticism of factual errors or their sometimes very out-of-date views that have not adapted to such facts like the USA having turned from biggest creditor into biggest debtor since Nixon closed the gold window.
Bloggers are well advised to check for factual errors or potentially 6 billion eye pairs will correct them in their comment sections at an instant. I too learn a lot from comments which I keenly read as they assist in steepening my lifelong learning curve.
Mr. Lewis,
pls be so kind to include yr alleged lies in China's GDP calculation when alluding to such.
To find out what Yuans look like I modestly advise to do a "Go ogle" picture search.
Pls also provide more background why China is run less to the people's benefit, e.g. in a comparison with the economic governance of the USA which tries to nationalize away its problems.
Your kids will certainly be happy to pay up for the bonuses US bankers and the billions given to carmakers with hopelessly outdated products lagging several years behind European car making quality and fuel.
Pls also be a more specific why Europe is a dragon?
And pls check your last allegation which makes absolutely no logical sense.
Maybe you read your comments a second time before hitting the "publish" button and apply a spell-checker too. "Tenents" (???) could not be found in any of the dictionaries I use.
Thank you very much for your contribution.
On Jun 28 01:11 PM James Lewis wrote:
> I think the author does not understand the basic tenents of the balanace
> of payments. Nor does he understand how gdp is calculated in China.
> In China 6.1% GDP growth (which is around 4.5% after the lies have
> been factored out) is indicative of a recession. In terms of China's
> reserves, the reason why the Chinese Government has so much reserves
> because they run China like a business, not like a non-for-profit
> organisation with the PEOPLE'S best interests at heart. I'm sure
> most countries could build up reserves by holding down the living
> standards of a great majority of its people in order to fully exploit
> and profit from its human resources.
>
> Also do we not think China is getting a little head of itself talking
> about the Yuan being a reserve currency and the need for them to
> buy more gold. Most of the worlds population dont even know what
> the yuan looks it.
>
> And China is not a Dragon..it's hungry Tiger.
> Europe is the Dragon.
>
> Tom E, nice thoughts. Seems to me the speculative stock-piling is
> also a short-term trading hedge against the dollar weakening. Some
> days I feel that China is talking the dollar down to make their speculative
> stock-piles rise in value (in USD terms).
>
The paradigm has changed. Europe looted the rewst of the world of its resources in the past 2000 years. Now we have to pay for them, standing in direct competition with the Chinese who undoubtedly have deeper pockets.
In general I would say that self-moderation will become the buzz word as we cannot maintain the same resource wasting lifestyle 500+ million (whites) in the US and EUrope has been enjoying. Suddenly there are 5 billion non-Westerners demanding their fair share of the world's resources.
I did not know the USA has such a long history. Tell me more.
On Jun 13 09:28 AM markincorsicana wrote:
> "Longest in History" ? Longer than the one that started in 410? Certainly
> more global and likely to be painful for more people. And more profitable
> for more people as well.
The Fed will not be able to absorb all the fresh money - ahem, "liquidity" - because they bought all kinds of crap paper (CDOs) at mark-to-fantasy prices. Who will bail out the Fed by buying this crap anywhere close to the prices the Fed "paid" (hahaha) with its freshly digitized "money." Quote from JP Morgan, "Gold is money. Everything else is credit."
Thank you all very much!!! I am overwhelmed by receiving 50 comments on this post. I have to re-read all your comments and hope to answer your opinions/questions in the future posts to come. Nothing drives me more than such witty responses! Thx again.
valinho, as I do some eu-blogging at thinkaboutit.eu I am most interested in the fact that there is still child labor in Portugal. Any suggestions would be very welcome.
On May 18 11:59 PM valinho wrote:
> the bigest problem with all of those "burrocrats" is that most of
> them have never run a business of their own, being resposible for
> its payroll and cash flow. The population problem in Europe, (I was
> born and raised in Portugal) is derived from obsolet labor, housing
> and education rules. We are educated to be a paper pusher somewhere,
> demand a job that does not exist for which we would not be qualified
> and would not produce enough to pay our own compensation, forget
> about producing a profit to expand the enterprise, and demand that
> that job is guaranteed almost forever working 11 months a year and
> getting paid for 14 months. Then we want to rent a place to live
> in and once you get in the landlord pretty much looses control of
> the property, although still resposible for the taxes and up keep.
> Because those jobs no longer exist and no one is going to invest
> in property under the actual leasing laws, the young people are forced
> to live at home with their parents, where they can not have the freedom
> to develop full relationships leading to mariage. That is my view
> on the problems afecting the european graying population. This
> is a result of two generations accepting the Crap the polititians
> have been feeding us for the last 40 years to keep getting elected.
I was suckered into believing it is Marc Faber indeed as a twitterer uses a potrait pic of him and led me to this blog.
Thx for the heads up.
On another note if you write a really a good blog let me know by email. find my address on my blogger profile page.
IMO Blogging is about expressing an opinion.
On May 11 09:04 AM Dave Raithel wrote:
> A non-polemical account would have been much appreciated, but I usually
> expect too much from people. About all this "essay" does is demonstrate,
> once again, that "economics" is not a science. Economics is a babble
> of competing claims about reality reflecting the interests of the
> babblers...
Prudent Man,
I am impressed and would like to give you a TRILLION thumbs ups. Pls check out my latest post
prudentinvestor.blogsp...
and add to it.
Andypandy,
I will follow up this week with some links that explain this fundamental problem - which you sense very correctly - of a fiat money system.
One book I recommend to everybody interested in the subject is "Secrets of the Temple" by William Greider which is by far the best (of the very few) book about the Federal Reserve. Greider is a Washington Post veteran who has moved to the left of the political sphere since he wrote this master piece that is both informative and brilliantly written.
On May 10 09:42 AM andypandy wrote:
> Ok I was wrong, it's a great video so far - first 20 min actually
> helped me understand me something new... Where does the money come
> from to pay interest to the federal reserve if they are the ones
> who make the money? Ha, have I not asked that question before?