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  • Also in Merkel's response to the S&P downgrades comes this chilling idea: She says she will consider legislation to bar institutional investors such as insurance companies from selling bonds when ratings are downgraded, or fell below investment grade. If banning short sales doesn't work, why not step it up a notch and ban selling altogether?  [View news story]
    Big Love?
    Jan 15, 2012. 03:41 PM | Likes Like |Link to Comment
  • Also in Merkel's response to the S&P downgrades comes this chilling idea: She says she will consider legislation to bar institutional investors such as insurance companies from selling bonds when ratings are downgraded, or fell below investment grade. If banning short sales doesn't work, why not step it up a notch and ban selling altogether?  [View news story]
    Eiththman....without valuation, then you have the same outcome as non-mark to market in the banking system. Banksters are more than happy to have someone allow them to avoid addressing to their realities.

    Their realities are simply that they have always tired to make money in a fractional, undercapitalized model. Perhaps the bankster's business model needs to be simplified to that their options for "losing money" are reduced.
    Jan 15, 2012. 03:40 PM | 3 Likes Like |Link to Comment
  • Why Gold-Related Investments Are Slowly Becoming Worthless [View article]
    Worked out really well last time didn't it?
    Jan 15, 2012. 09:28 AM | 4 Likes Like |Link to Comment
  • Jamie Dimon's Medicine To Cure Healthcare, And America [View article]
    Hollywood....seems like the Banksters are beginning to be as much a pariah as lawyers?
    Jan 15, 2012. 07:39 AM | 1 Like Like |Link to Comment
  • Southern Californian GOP Congressmen Howard McKeon and Elton Gallegly acknowledge they're on a "VIP" list of House members who received discounted loans through a Countrywide Financial program that's now under Congressional investigation. McKeon and Gallegly deny any knowledge of Countrywide's initial decision to put them on the list.  [View news story]
    Seems like your statement above is contradictory....do they or do they not acknowledge they are on the list?
    Jan 15, 2012. 07:36 AM | 3 Likes Like |Link to Comment
  • Signs All Bad For Greece [View article]
    Beware of Greeks "needing" gifts.
    Jan 15, 2012. 07:34 AM | 1 Like Like |Link to Comment
  • The GOP debate about whether P-E creates more jobs than it destroys is "fruitless," says the WSJ, "because voters and politicians don't believe jobs should ever be destroyed." But one thing that Mitt Romney didn't learn at Bain was to be afraid of taking action because it would upset people. "That's not the worst qualification to bring to the Oval Office right now."  [View news story]
    I am a happy voter and happily not a politician. The jobs I believe should be destroyed most are government sector jobs, particularly the ones within the Beltway. I'm all for about a 50% reduction in headcount or a 50% reduction in the rediculous compensation packages they are receiving today. Perhaps Romney has the experience to "restructure" before there is a hostile takeover.
    Jan 15, 2012. 07:31 AM | 5 Likes Like |Link to Comment
  • Important Takeaways From JPMorgan's Earnings Report [View article]
    Disclosures: I have no interest in being involved in anyway with JPM and hope they get their just due in the end..... The sooner they collapse, the better for the world.
    Jan 15, 2012. 07:26 AM | 3 Likes Like |Link to Comment
  • Beware The Great Unzipping [View article]
    Re: Merkel's comment, and your response to it - "It’s the stupidest thing I’ve ever heard." I'd have to agree 100%.

    O my goodness...where do they find these people...Can she really be that dense?
    Jan 15, 2012. 07:21 AM | 8 Likes Like |Link to Comment
  • Why Gold-Related Investments Are Slowly Becoming Worthless [View article]
    Goodness...Mr. Dark...where do I begin.

    “Fact #1
    Go down to your local grocery store, pay for a $2 loaf of bread with a $5 bill and demand your change in gold.........how much gold do you get back with the “value” of gold at $10,000/ounce (or $100,000 per ounce)? How big is .0003 or .00003 of an ounce of gold?”

    RESPONSE:
    If I demand for my change in a “gold certificate”, currency backed by gold, they will give me 3 $1.00 gold certificates back. I’m fine. They are fine.

    “Let's make it 1% or 1/100th%..........you've just made the argument for not doing it at all. Better yet, let's make the Swiss Franc the world's reserve currency. Now, your next task is to go out and read up about why that can't happen. (Hint: There isn't enough Swiss gold or francs combined to support the volume of transactions that would need to be serviced by its currency. Stated otherwise, it does not possess the required liquidity.) “

    RESPONSE:
    False: The argument for doing it is that as a holder of a gold backed currency, I can exchange my currency at my discretion out of currency into gold or out of gold into currency. The people will decide which they would rather hold. If the country manages the currency appropriately, the people will be INDIFFERENT as to whether they want to hold gold or currency. Your comment about the Swiss Franc as reserve currency is extra-terrestial.

    “Fact #2.........“If currency were backed buy gold and it were interchangable, why would people hoard.“

    From 1792 to 1913 the currency was backed by precious metals. Nevertheless, almost like clockwork in nearly every generation, the nation and its economy experienced panic and depression. In each of these crises hoarding (the disappearance of the currency) contributed to the hardship. History has proven that a currency backed by metal does not prevent hoarding.”

    RESPONSE: If you are talking about the “disappearance of currency” then I have not spoken about that. I only asked why people would hoard gold if there were a gold backed currency that people could switch into an out of as they chose. The thing that would actually make them hoard gold is if the government mis-managed the currency.

    “Fact #3. “There were no regulators from 1792 to 1913. Miners brought their gold to the mint and the mint made coins. Then the mint gave the gold back to the miner. What regulation is required?”

    You're kidding, right? The only period when the currency was NOT regulated by the federal government in this country was from 1837 – 1862, a period of merely 25 years, barely more than one generation. During that time, most state banks (the then regulators of the currency) failed.”

    RESPONSE:
    Once again, you are talking about “BANK” regulation vs. the regulation of the amount of currency or gold in circulation. Banks are, were and always have been culprits re: fractional reserve banking. Even today, my friend, you can have bank runs when people decide they don’t trust a bank to be able to pay out currency to their depositors.

    “The issue of liquidity largely dictates why your overly simplistic scheme cannot work. Gold cannot “back” paper AND be freely interchangeable with it. During any liquidity crisis (read some history) gold would disappear. It has happened numerous times before; and it wouldn't be different this time.”

    RESPONSE: Why during a liquidity crisis would gold disappear as opposed to currency disappearing. Today you have a liquidity crisis in Europe. Cash, currency, is leaving the country and coming to US Treasuries. Why is that….because the governments have mis-managed the currency. If their currencies were gold backed and they had mis-managed their currencies, yes, people would be liquidating currency in favor of gold. But…the whole point of a gold backed currency is to rein in mis-management.

    “Query: If gold and paper are interchangeable, what is the “value” of gold? Your scheme tends to prove John Lindauer's thesis. If gold and paper were actually interchangeable, there would be no need for gold.....and it would truly be worthless. But of course, there is a big difference between paper and gold. Gold is scarce; paper is not. However, in an economy on a planet with nearly 7 billion people, currency requires liquidity. Gold cannot provide that liquidity......unless the supply is controlled.”

    RESPONSE:
    If gold and paper were interchangeable, the value of gold is: one ounce = one ounce. The number of currency units it can be exchanged into would be dependent on the “government” mandated conversion rate. The only need for gold would be to force the issuer of currency not to issue excessive amounts of currency in comparison to the ratio of the gold backing. Finally, I never said we should have gold as an exclusive medium of exchange.
    Jan 15, 2012. 03:19 AM | 6 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Jack....incest is the reason their brain cells deteriorate into stupidity.
    Jan 14, 2012. 11:09 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Wyostocks....I will have to give it a try.
    Jan 14, 2012. 11:09 PM | 1 Like Like |Link to Comment
  • Why Gold-Related Investments Are Slowly Becoming Worthless [View article]
    Porgie.....Honestly....I think I remember a Sly Stallone movie with that Taco Bell thing....no original thoughts here.
    Jan 14, 2012. 08:57 PM | 2 Likes Like |Link to Comment
  • Who Will Benefit: Banks Or Housing? [View article]
    I don't believe they are stupid morons. There are probably ways to get indemnified by the sellers, but you can rest assured with MERS database in the background.....it's highly likely they can't get clear title.
    Jan 14, 2012. 09:52 AM | 2 Likes Like |Link to Comment
  • Why Gold-Related Investments Are Slowly Becoming Worthless [View article]
    Mr. Dark....sounds like you need to expand your thinking abit.

    Fact #1? Are you saying there is not enough gold in to world to back currency dollar for dollar at to days gold prices. What if there was 1 ounce for every $10,000 or one for every $100,000. Would there be enough then. The Swiss are only 10% backed. Is this too hard to understand?
    Fact #2? If currency were backed buy gold and it were interchangable, why would people hoard. They would only hoard if they thought gold was more valuable than currency. But if they could change out of or into any day of the week at their discretion.....there would be NO hoarding.

    Fact #3. There were no regulators from 1792 to 1913. Miners brought their gold to the mint and the mint made coins. Then the mint gave the gold back to the miner. What regulation is required?
    Jan 14, 2012. 09:42 AM | 7 Likes Like |Link to Comment
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