css1971

The Coming Depression: See It Clearly Through Historical Eyes

Pre 1971, money was tied to gold. Not the case now. The governments can now inflate as much as they like. What we get since then is not a depression, we get stagflation instead.

Chinese Are Likely to Halt Purchases of U.S. Treasury Debt

"No problem, Premier Wen, we will honor our promises... just as you honored your promise to introduce democracy to China, a promise made back when our country opened its borders to your products. You can count on us, pal! (toothy grin and wink)"


I'm sure that China will introduce democracy just as soon as the USA does.

A Financial History of the World

"the underlying problem in the financial crisis is too much outstanding debt."


Well DOH!

Fixing that means reforming the monetary system. All over the world.

Good luck with that.

The Nationalization Debate

Why nationalise? "Too big to fail"... Those words say it all.

The US banking system is literally taking the country down. It's like a leech, sucking US citizens dry.

They should have failed. They all should have been allowed to fail. That decision was taken though and you now have a whole bunch of zombie leeches still sucking away at the bleached white corpse which was America.

You all need to ask yourselves "What is money?". What is the nature of money? What affect does the nature of money have on the society I live within? Either that or just keep feeding the leeches.

Be It Resolved: The Days of $500k Economists Are Over

"Almost no academic economists [ed., Roubini and a few others aside] predicted the world-wide downturn."


WTF?


"The wavelike movement affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

Ludwig von Mises. (Human action. p. 572 mises.org/resources/32...)

First published in 1949.

Davos '09 and the Failure of Leadership

Why would anyone trust a banking system built on a pyramid scheme? Or the politicians who are throwing trillions of citizens money at the people behind the scheme, begging for more?

U.S. Debt Default, Dollar Collapse Altogether Likely

On Feb 04 03:48 AM Dave Wrixon wrote:
> True the US has never done that before, but then the US has never
> been so badly managed before.


April 5th 1933
August 15th 1971

The USA has defaulted several times.

Banks: The Final Countdown?

What the world really needs is for the banks to be allowed to die off of their own toxic consumption and for the monetary system to be replaced by something sane instead.

Bail Out the Future, Not the Past

"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks." - Lord Acton

Chinese Are Likely to Halt Purchases of U.S. Treasury Debt

On Mar 13 12:03 PM Mr. Big wrote:
> Their manipulation of their currency as decimated the US manufacturing
> base. Their massive buying of medium and long term treasury bonds
> (in support of their currency peg) as caused long term yields to
> remain depressed for a prolonged period, causing the inversion of
> the yield curve in 2005 to 2007 and setting up the conditions for
> leverage in the financial sector and the incentive for savers to
> become borrowers. They did this to America and now they have the
> gull to "warn" us?


"Hence to fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy's resistance without fighting."
-- Sun Tzu ~ 400BC

Bank Nationalization: It's Just Plain Wrong

Oh for goodness sake. Bad bank, nationalisation are both suggestions which will pass crap to the taxpayer to pay for coming generations. i.e. forever.

Creating national good banks (a national commercial lending operation) on the other hand would be cheaper, more effectively isolate the banking problems from the rest of the economy and the banking muppets who invested in the toxic crap they are peddling will go down the tubes as they so richly deserve.

The Winners Will Be Those Who Look to Gold and Commodities

Briggsy: "You can eat food and you can burn energy. What can you do with gold?"

What do you do with little bits of green paper?

Dan Lewis James: "As a question though, does anyone have an idea what time frame we may be looking at for inflation from the bailout's to filter into the economy?"

Take a look at previous crashes.

Google Should Make Apple Beg for Maps Navigation

Just a question...

So how do you navigate if there is no 3G reception?

At the moment, Google Maps will navigate you out to the middle of nowhere and then stop working... No?

Cool "feature".

Gold and Economic Freedom: Reinterpreted for the 21st Century

He didn't in fact say that. It's a misquotation.


On May 10 04:39 PM Gold Barron wrote:

> "I believe that banking institutions are more dangerous to our liberties
> than standing armies. If the American people ever allow private banks
> to control the issue of their currency, first by inflation, then
> by deflation, the banks and corporations that will grow up around
> the banks will deprive the people of all property until their children
> wake-up home-less on the continent their fathers conquered."
> –Thomas Jefferson
>

$200 Oil Is Coming While We Waste a Perfectly Good Crisis (Part 3)

Large parts of economies can't function with energy that expensive, so there will be demand destruction instead. You'll see peaks and troughs rather than increase and plateau.


On Apr 09 10:19 AM Frank H wrote:

> I agree oil prices will get bumped back up to at least the 140's
> again and get set in place for a longer run at that range