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This Game is so Rigged

This Game is so Rigged
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  • Eduardo Saverin Joins The Stateless Billionaires [View article]
    Embassies are shills for parasitic corporations hoping to imperialise the host country.
    May 19 08:12 PM | Likes Like |Link to Comment
  • Speaking at the press conference, Sarkozy says the IMF (i.e. U.S., maybe China too) will partner with the EU to provide additional bailout funds. He believes the EFSF can be leveraged to provide €1T in firepower without threatening any EU core credit ratings. Under the plan, Greek debt/GDP would fall to 120% by 2020. None of this is new information, all having been leaked out during past days.  [View news story]
    The IMF was created for the sole purpose of exerting U.S. influence worldwide. The bailout isn't free for the Greeks. Greece becomes our prison bitch. Slowly, the U.S. erodes the sovereignty of all nations.

    The fact that you and I get nothing out of it is irrelevant to those in command.
    Oct 26 11:42 PM | Likes Like |Link to Comment
  • The Slippery Slope Of Silver [View article]
    You can't "invest for profit" in woodpecker heads, they're a "store of wealth" proposition - duh. Plus the market kind of "died out" after the Shastas were emancipated from their land. Very illiquid. Make sure you get physical woodpecker heads and not some ETF.

    For an investment, buy treasury bonds; the after-inflation yield is approaching negative six percent - it could be much worse - so buy immediately. Plus, treasuries are backed by the full faith and credit of the Fed. What's gold or silver backed by?

    Seriously, I think 95% of the world has gone completely batshit.
    Oct 25 08:33 PM | 2 Likes Like |Link to Comment
  • The Slippery Slope Of Silver [View article]
    Silver production annually - 735 million ounces. Arbitrarily at $50 per ounce = $37 Billion +/-

    Which is about...two weeks worth of fiat Treasury Purchases for the Bernank.

    4.3 Billion ounces of Gold above ground. 45 Billion ounces of Silver above ground. 11 - 1 ratio = Silver $145

    If gold is money then silver is money. Or we could use dolphin teeth (Solomon Islands) or woodpecker heads (California Shasta Indians).
    Oct 24 08:21 PM | 2 Likes Like |Link to Comment
  • QE3? Better hope so, says the new consensus among market pros. "There is one bet right now: Bernanke will bail out the world," one says. “If that does not happen, then no investment will be safe."  [View news story]
    Silver and Gold, it's the only thing Bukake can't fake.
    Jun 1 06:04 PM | 2 Likes Like |Link to Comment
  • Have Americans lost faith in the free market? A poll shows 59% of Americans say they support the free market as the best system for the world’s future - lower than respondents from Germany, Brazil and China.  [View news story]
    Yes, I said "free to hire non-unionized workers" tongue-in-cheek.

    However, let's take a "Union" of brain surgeons. All the brain surgeons get together an Unionize against the hospitals that try to get them to work for $150k per year - shouldn't they be free to unionize? And conversely, if the hospital can find a brain surgeon that's not part of that union - shouldn't they be free to hire him at whatever cheaper price he's willing to work for?

    And it's true - I don't know much about labor laws. I haven't hired anyone since 1995 when worker's compensation laws chased me out of hiring framers and roofers. Since then, I've gone Galt.
    May 25 08:38 PM | 1 Like Like |Link to Comment
  • Have Americans lost faith in the free market? A poll shows 59% of Americans say they support the free market as the best system for the world’s future - lower than respondents from Germany, Brazil and China.  [View news story]
    1980 - disagree about unions. They should absolutely be free to unionize workers. And businesses should be free to hire non-unionized workers if they can hire them for less. Freedom of choice.

    Clearly, we haven't had a free market since the crash of 1873 (which eventually lead to the creation of the Federal Reserve).
    May 25 08:04 PM | Likes Like |Link to Comment
  • Gold Too Variable to Be a Currency [View article]
    Sheik, come on man. You're a smart guy, but you're on the recent history of this argument.

    "The price of an ounce of gold was fixed at $20.67 for many decades until 1934 at which point the price was raised to $35.00. In 1968 a two-tiered pricing structure was established, and by 1975 the price of gold was allowed to fluctuate." You can't use 1940 to 1960 for comparison to anything. That's a fingernail clipping in history. Of course "stuff" tripled v. gold in the 1950's. It was prix fixe. Gold was artificially cheap.

    Like we argued previously - the reason gold declined in the 80's & 90's was because "after-inflation interest rates" were excessive. That's the only way to get people to hate gold. Owning gold seems stupid when you can get 20% in your overnight CD's. But when the government is debasing your savings by printing 2.5 trillion pieces of paper and lying about it, as well as not offering interest on their paper - gold is a great investment. It is a measure of wealth which hard to print.

    Additionally, the coinage act of 1792 established what a dollar was supposed to be - 24 grams of Gold. Only when it became inconvenient in the mid 1800's did they subvert the original value of a dollar. It wasn't until FDR that they completely f*cked the American people in exchange for central government; and then Nixon who ditched the exchange of dollars for gold (at $35 per ounce - which even at that cheap price, the central government could no longer afford).

    After which; gold promptly shot up to $125 then about $250 for nearly a decade.

    If the US offered 18% interest rates tomorrow - gold would drop like the lead weighted shiny metal it is. However, since Bukake has a printing press and no desire to raise interest rates, and Timmy is not afraid to Ben's printing press - gold will slowly replace the dollar as the safe-haven refuge (one could argue it already has - although it didn't hold true in November 2008).

    I always enjoy your comments; and the nice part is one of us will find out who's right in the next 5 years, or so.
    May 25 07:49 PM | 4 Likes Like |Link to Comment
  • The Online Money Show: 4 Reasons the Silver Bubble Should Continue to Deflate [View article]

    I assume that production efficiency would equate to producing goods at the most efficient price - so as such, if we were so productive we wouldn't need to import so much more than we export. The debt is a combination of governmental mis-management and lack of exports.

    I also agree, in my heart, that you can't eat shiny metal - so it's really just a greater fool theory (convincing your grocer to accept shiny metal instead of rectangles of green paper).

    However, in my head, I know that gold and silver have been used as money for about 5,000 years. And silver was used as recently as the 1960's as "real money" in many western countries. So, if asked what "money" is? I think it's gold and silver. Everything else just represents how much gold and silver you can buy with it.

    The supply of shiny metal is so finite and tiny compared to the world population, that only inflation adjusted interest rates in excess of 4%+ (an arbitrary number I picked from the air) are capable of decelerating the desire to preserve one's capital and take "fiat paper risk".

    As far as what I see in the future - global socialism (you might call it General Motors capitalism or a Banking Cabal) and a race to devalue one's own currency in order to remain competitive and keep the life boat afloat for as long as possible (remember it took the Roman empire nearly 200 years to collapse after they went fiat - we're only at the 40 year mark).
    May 24 06:32 PM | 2 Likes Like |Link to Comment
  • The Online Money Show: 4 Reasons the Silver Bubble Should Continue to Deflate [View article]
    Hah! Helium-3, gotta give you that one. Very clever. However:

    "efficiency at production"??

    We have 48 million people who can't feed themselves on foodstamps (another fiat currency, incidentally). 48 million is about three times the combined population of Greece and Ireland. If we are so efficient; why do we run the world's largest current account deficit?

    The fact is the system is failing - it's only a question of when, not if.
    May 24 11:47 AM | 3 Likes Like |Link to Comment
  • The Online Money Show: 4 Reasons the Silver Bubble Should Continue to Deflate [View article]

    Your argument stems from the belief that the Dow produces "real earnings". It's a bit like saying the "box office for Hollywood" went up this year. Yes, of course revenues increased - because they raised ticket prices in green rectangles of paper. However, attendance peaked in the early 1930's. And that's with a third the population.

    Since there are approximately 4.5 billion ounces of gold and 45 billion ounces of silver;

    If you ignore all the "money" in the world other than US dollars; and assume the US holds all the gold and silver, then:

    To cover our outstanding M3 (which they stopped keeping track of in 2006 because it was so embarrassing): one ounce of gold would be $2,900 or one ounce of silver would be $290.

    However, if you use the gold reserves of the US alone (and not the world supply) - we hold 260 million ounces - or per ounce- $53,790.

    What's the right price? I have no idea - but I know it's multiples of today's prices for both gold and silver.
    May 23 07:53 PM | 4 Likes Like |Link to Comment
  • Europe's austerity has made its problems worse, Paul Krugman writes, and the renewed "confidence" that was supposed to revive the private sector when governments got their fiscal houses in order has failed to appear. The ECB acts "as if it is determined to provoke a financial crisis," raising rates and warning against any form of debt relief.  [View news story]
    Funny stuff, "free crap".

    The irony is that the Spanish fired the Socialists and moved to the Right - in order to get more "free crap". Retards.

    It just shows you, everyone gets the government they deserve.
    May 23 07:10 PM | 4 Likes Like |Link to Comment
  • 4 Reasons Why Silver Will Continue to Deflate [View article]
    @Sane Investor

    The Greater Fool Theory is a game that the U.S. has been playing since 1973. You are the greater fool for accepting green rectangles of paper in exchange for the belief that your grocer will accept them in perpetuity (the fact that it takes 20x more green paper today than it did in 1973 is irrelevant to you, no?)

    I found a receipt from my parents’ anniversary dinner at the Beverly Wilshire Hotel in 1968. The bill, for dinner (wine, steaks, baked potatoes [ala carte back then], desert) – $12.78. And my dad said they could barely afford it.

    Although from your photo you are too young to remember the oil embargoes and the times when our parents could only fill their cars on odd-or-even days depending on their license plate numbers. That was the time when Nixon "opted out" of the gold backed currency and we became 100% fiat.

    We've had a nice run for the last 40 years (the Romans were able to maintain a fiat currency for nearly 200 years). The Arabs traded their irreplaceable oil reserves for green rectangles of paper. The Japanese, and then Chinese traded flat screen TV's and Disc Players for green rectangles of paper. There is talk, now for the first time in decades, of an alternative “reserve currency.”

    It seems to me, as such, that we’re entering a new period. Green paper seems less glamorous now that Cary Grant is dead, Raquel Welch’s breasts touch her knees and Clint Eastwood is 100 years old. I appears that others are beginning to see through our “leaders” façade. It seems that people are calling “bullshit” when the “leaders” speak.

    And although you can’t lose money in real estate (except in Detroit, Buffalo, Cleveland, etc.) – the fact is that you are guaranteed to lose money in green rectangles of paper.

    I suggest reading Sprott’s report on the availability and use of Silver.
    May 17 11:15 PM | 3 Likes Like |Link to Comment
  • The IMF needs to set up a leadership plan with its boss "obviously not in the position" to run it, Tim Geithner says in his first comment on Dominique Strauss-Kahn's arrest. Jockeying is already under way, with emerging-markets nations stumping for their representatives, Europe wanting a continental, and the U.S. still the fund's biggest single shareholder. (IMF news)  [View news story]
    Does anyone else have a problem with the head of the French Socialist Party staying in a suite that's $3,000 per night?

    He should have spent $500 for the room and gotten a Spitzer girl with the difference.

    The hubris is just disgusting.
    May 17 08:08 PM | 9 Likes Like |Link to Comment
  • The economy and stock market still have some friends, such as Goldman Sachs' Jan Hatzius, who believes the U.S. is "years away" from the next recession. "The unemployment rate is still 9%, we're nowhere close to a really tight labor market that usually predicates a recession, so I think we're still be in a recovery for a few years." That's one way of looking at it; here's another.  [View news story]

    "...a new monetary system."

    It will be global (call it a Global Currency Unit, or something similar, and it will be entirely electronic - which means it can be erased when accused of a crime or something of that nature).

    A black market system using barter, metals and jewelery will back-fill (like Russia in the 1970's and 80's).

    Sad, I think.
    May 17 07:26 PM | 3 Likes Like |Link to Comment