Golden Oxen
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Ho Hum, Another article entitled the Golden dilemma which, as usual, is about everything except Gold.
What it is.
Why history informed all of us that it was money.
Why all other forms of money are poor corrupt derivatives of it.
Why it has been in a bull market against all paper money for about 4,000 years
Why it is honest money of integrity.
Why it represents labor, toil and sweat.
Why it is impervious to the elements.
Why it cannot be counterfeited.
Why it is inert, dense, and constant.
Why banksters, governments, politicians, and fools degrade it.
Why it cannot be printed.
Why our Constitution states explicitly our money is to be made of it, and it’s less noble relative, silver.
Why it can never be discussed in plain and simple terms by it’s detractors.
Why all the central banks of the world hoard some
Why it is quoted throughout the entire world 24/7 in every currency known.
Why the winner of an Olympic contest is given a gold coin instead of a piece of parchment.
Why the expression, “It’s a Gold Mine” exist in common usage,
Sorry if I bored you, the list is endless, it goes back 4000 years and I obviously think Gold and the CPI, and Gold and S&P500, are silly little tricks the fiat paper devil is playing on the dim sheeple. Don’t be one of them, gold is very simple, honest, and straightforward. Tell the Paper Lucifer to go back to Hell.What disturbs me about this article is not only the fact that it is true, but that this rigging business has become everyday acceptable business. Whether it is the stock market, interest rates, bond markets, government statistics, gold etc.
It is done under the guise of protecting us from harm, but we certainly know who is really reaping the benefit.
Just one facet of this that I find particularly onerous is the zero interest rate policy which hurts all the thrifty and rewards the debtor and banksters as usual. We are all Communists now, the free market knows nothing and has to be interfered with at every juncture.Postpone the Apocalypse again!
Thank goodness. I should have known from the performance of my oil and gas stocks. Ouch,but I would rather lose some dough than my freedom and mobility.
Let’s get working to try and solve this energy problem, seems we have a bit more precious time.Ashvin Quote” On top of that, the critical June date for the Fed to announce impressive plans for QE3, perhaps the last viable date before elections, has come and gone without so much as a tepid squirt from the liquidity faucet. So if the central authorities are waiting for anything to really get their hands dirty (and bloody) again, they are waiting for the markets to crash a solid 10-20%, at the very least. And by the time that happens, we know for a fact that the Eurozone will be in much more dire straits than they are now. What will the Fed or the PBoC be able to do for the imploding economies of Spain and Italy?”
This is most unlikely to happen. They found out all to well what happened when they dilly dallied last time.
Something will definitely give. The inflation they are trying to create will finally take hold, and their success in this endeavor will be mind boggling to most. The spike in interest rates resulting from this sudden appearance of rapid inflation will resemble a volcanic eruption. This will lead to a violent, sudden, total collapse of the US banking system and the bankruptcy of all Sovereigns. The place where are all are hiding, US Treasuries, will turn out to be the place that implodes and brings the entire edifice down.
What happens after that should be the topic to concern ourselves with now. My view is Gold and Silver will become part of the financial solution. Your view that it won’t be pretty is an understatement of epic proportion.I had very high hopes for the internet solving the problem of what the Main street press and media have become. The pig men fooled me with the speed in which they took control of that hopeful venue with their usual tactics. We are in a terrible situation for sure.
Don’t forget Gold, Silver, and of course Oil.
Gold up 3.03%
Silver up 4.45%
Oil up 8.57 %
It was a most unusual day.You folks being thought of as cuckoo or loony are lucky your close ones are so kind. Mine view me as a dunce. They are ” The Science Solves Everything Crowd”. I am a well intentioned meat head that is just too old to understand the new technologies. Have to admit there is a lot going on I am not aware of, or would have much trouble understanding if I was?
What an article! Ashamedly,I do not possess the writing skills to give it the praise it deserves. Ashvin, you have manged to capture the TRUTH of our current situation, and am of the opinion that this article is going to receive universal acclaim, comment, and admiration as it travels the internet world. Thank You
@ Karpatok I feel it is a business by the design of the website and the grand tour. I see nothing wrong with that, we all have to eat and pay the rent; likewise it does not detract one iota from the validity and content of the articles which are superb and well intentioned. From my perch, I am happy I have a place to visit where I can read the thoughts of some very concerned citizens and voice an opinion on the content.
I agree with your analysis and have lost a fair amount of money in holding some investments in the natural gas royalty trust area which were of course decimated. This issue, like most, has two sides to it. Your outlook and mine appear logical and compelling on paper, however the real world sees it different currently. My instincts tell me we are missing something, perhaps it is a short term problem, but the markets violent downside reaction to all of this has me wondering.
Kindly note that the charts went into their sickening upward or downward trajectories, or spikes, you could call them, as soon as the U.S ended Gold’s link to the dollar. This was hardly a coincidence and the aftermath pictured was forecast correctly by all Gold bugs. Honest sound money means an honest sound government and economy. Dishonest corrupt fiat equals the opposite.
Reply to sangell. Your posting brought back fond images of Captain Nemo and the Nautilus. James Mason was a great actor who played the part perfectly. A nice vessel to own in these times sangell, even if it was fictional.
@ Surly Ashvin certainly is hard working and provides us all with a prolific amount of quality writing and commentary. We sure do have a good time at the Diner, a much less formal atmosphere for sure. If only RE wouldn’t yank that rifle out so much. Have you ever wondered what the DD would be like if he were a fan of Kung Fu instead of the Rifleman when a mere lad? Wouldn’t RE make a wonderful Little Grasshopper?
@ Surly I am in total agreement with what you write here Surly, so it has become very apparent to me that I have missed the drift and true message of what has been intended. Hardly the first time I have been in a fog with a topic. Thank you for your clarification, as mentioned earlier I had considered it a steam blowing rant at it’s inception so it is clear I was lost from the very beginning. My apologies to all for being lost. GO
Ashvin Quote “If you could take a time machine back to 1960s Cambodia with some computer technology and the knowledge to set it all up so they can communicate with each other, and then they start talking about Mao’s “cultural revolution” in China and its potential implications for their own country and population in upcoming years, would you tell them that it’s a waste of time to do so? That this guy Pol Pot and his hardline Maoist proposals should be ignored and written off as a waste of time to even consider for more than 5 seconds? “
Your good intentions are noted and most appreciated. My personal opinion is that RE has gone off the deep end with this one, and both you and Surly, being among the brightest and respected bulbs in our meeting places, have given substance and legitimacy to this Orkin Man madness buy treating it seriously. Cynical, disillusioned with government and all of its institutions, gold hoarding crank that I have become; it is offensive to me to have the US,Europe and it’s citizen and leaders compared to Cambodia and Poll Pot. May I also object to your assertion that the end of a credit cycle and its depressing effect on the world economy, collapse as you call it, leading to this sort of mayhem is in error. The world has survived ups and downs in the business cycle with much hardship regularly, but this sort of madness arising is hardly a given. We face grave problems, no doubt about it; this sort of rhetoric is hardly the answer to them.
A well written and documented account of the financial disaster the world is in. Depressing and as truthful as the article is, I still hold on to the minority view that there are ways out of this with some responsible clear thinking individuals arising from the fear and confusion, responsible intelligent leadership is needed and quickly.
Expecting the subject of Europe’s substantial Gold reserves to come out of the closet, and become a significant part of a solution. The ideas of a universal tax on all speculative financial transactions, as well as a generous tax credit for hiring new employees are also ones that have some merit. There are many others but without a trusted confident leader to restore confidence and faith in the future we face a bleak period.My initial reaction to the article was one of not taking it serious, It seemed like taking out anger against the Illuminati in a harmless diatribe. Never commented on it because it appeared to be a rant with no real purpose but blowing off some steam. Since realizing belatedly the people involved are indeed serious, I feel compelled to agree with posters English Memorial and ZBY. It is indeed offensive, an embarrassment, and a complete waste of time. Are we not conversing and exchanging ideas on this forum to try and prevent this type of chaos, mayhem, and barbaric behavior from destroying all of us? This reminds me of the Charles Manson family and his famous literary masterpiece the Helter Skelter.
As mentioned earlier the brain washing against Gold has been very thorough, deliberate, and successful. The cacophony of ludicrous and incoherent postings on the subject presented, some bordering on insanity, certainly proves it. The banksters, as usual, have been most adroit at enslaving the foolish and dim with their confetti and credit schemes. Most amazingly, it has worked against a group of intelligentsia who think they are on to them and their sleazy tricks. A Divine Comedy for sure.
@ pipefit Thanks for pointing out that gold doesn’t move, it is the currencies it is quoted in that move. Most people are incapable of thinking about gold that way, and thus we have the constant quarreling and ludicrous arguments. Would also like to point out that as quoted in all fiat currencies gold has been in a bull market for about four thousand years, a trend unlikely to be broken. When Ashvin,RE,FOFOA etc discuss gold it is my opinion that they are actually discussing something else. Peak Oll, current economic situation, grocery stores and retailers having no goods if it goes ballistic, all sorts of unrelated jibberish which does nothing but muddy the waters and is nonsensical. The brainwashing against gold has been very thorough and has even been a success with otherwise highly intelligent individuals. May i suggest from experience that you are wasting your time arguing with them, I have been at it for over forty years and from my experience it is a rather fruitless endeavor. “Gold Will Win” Regards, GO
Reverse Engineer post=3570 wrote: [quote=Golden Oxen post=3562]
Doomster’s and their followers are great for telling about our problems but have little to offer in solutions.Nonsense!
You YOURSELF are a Diner, and you know for a FACT that all of us Diner Doomers work out Solutions in GREAT DETAIL all the time. You just don’t LIKE the solutions because nobody uses Gold in them. 😆
So stop spreading DISINFORMATION about Doomers. Peter Bauer, Urban Scout’s stuff is REAL SOLUTION by one Doomer. Peter’s Hydroponics are another solution by another Doomer. The Inquisition of yours truly is yet another (highly unpopular :sick: )solution. To say Doomers do not present Solutions though is a BALD FACED LIE! LIAR! I call you out for this here.
For the TRUTH about what real Doomers really think and the SOLUTIONS they discuss, visit the DOOMSTEAD DINER.
RE
Are you talking about the berating you gave a scientist for saving millions of lives, or your rewriting of history to explain to us that the discovery of the America’s was really the start of biological warfare by the Illuminati ?
My feelings on gold are that it is the answer to our Financial problem, not the myriad of other problems that face us. My reasons for being a member of your website are my concern that we face grace dangers, and try and learn and become more aware of them from the great posters that reside there. Peter is my favorite by far, and one of the most productive, resourceful, and remarkable persons I have ever had the pleasure to meet. When I was talking about doomsters, I was not talking about members of our Diner, you, in your usual fashion, assumed I was because of your constant need to teach, quarrel, and name call people that do not agree with you. We are doomed if we continue on our present course for sure, but unlike the true doomsters, I have faith that we can figure a way out.@ Patrick Patrick you are describing an unfortunate and tragic development destroying some human beings in a hopeless situation. I am talking about the human race which made it from the caves to the moon and now has about 7 billion members. There is something about that trajectory and the great exceptional people that it has produced that makes me hesitant to predict it’s imminent demise.
@RE There are always folks ready to invest in an enterprise that has come clean. With losses accounted for, scoundrels punished, and a fresh eager new management team eager to instill confidence and show their worth investors will flock to it. Faith in the future is what investing is all about.
I am firmly in group three. We did not come all this way for nothing. My faith and salvation are the track record of mankind, and the brilliant people who have helped us on our marvelous journey. Please, don’t get me wrong, pain and necessity are the mothers of invention, change can be quite a nightmare. I just know there are more Galileo’s Newton’s, Einstein’s, Shakespeare’s, Pope John’s, and Mother Teresa’s among us or in our future to name but a very few.
Doomster’s and their followers are great for telling about our problems but have little to offer in solutions. Their constant reference to the Illuminati is a mere abrogation of their collective responsibility for the mess we are in. We collectively contributed to the current state of affairs and must figure a way out. We will have some members of our sacred human race come forward and help us. Have faith,love, and respect; they are there or will be, and they will help us and show us the way. Faith is the answer, without it we enter hell.Your seven step plan is a bulls eye sir. The only proper way to deal with that sewer of toxic debt and the imbeciles that created it. Might I add that the newly recapitalized banks be forbidden from all speculative activities in the bond, stock, and currency markets, as well as engaging in any derivative schemes whatsoever. Auditors should also be liable for accurate audits with clear prison and financial penalties for failure to live up to their fiduciary responsibilities. I realize it is hard to legislate integrity, but something has to be done to restore sanity and transparency.
Not to worry, will all be made from biodegradable plastic corn and plant based substances soon. If you wish to worry about waste, make it nuclear waste, which sure saved a lot of oil burning when you think about it. Science, technology, conservation, still the answer to a lot of today’s problems.
Ashvin Quote “Yet, we still cannot rule out the ability of central authorities to extend and pretend with certainty. Let’s say that the Fed decides to defy all expectations and announce the purchase of $2 trillion in MBS and municipal bonds as a part of QE3 in June, and then, on top of that, the ECB announces that it is actively considering the possibility of directly monetizing Eurozone sovereign bonds with Germany’s unconditional blessing. This is an extremely unlikely scenario, but there is no denying that it will boost the markets and maintain artificial economic growth for at least a few months (more likely a year)”
Agreed, except it is the most likely scenario in my opinion. There are many other options available that should not be overlooked, all of which will lead to inflation and the elimination of the debt overhang from it. As to the no growth, that is called stagflation, a situation that all the mature Western economies find themselves in, especially since they exported their polluting manufacturing to Asia. It is an era of high unemployment, high inflation, not the best of worlds, but hardly the end of the world. It has a few good unintended consequences such as stretching out the use of scarce resources, and letting the worst of the manufacturing pollution occur elsewhere. It also allows us, under the present fiat paper scheme. to purchase the hard work and resources of others with pretty pieces of paper rather than real money. Flirting on Facebook all day, our newest industrial giant, sure beats lumping sixty hours a week in a sweat shop in Asia, even if you only have your food stamps and unemployment check to get by on.
It would appear from this article that Germany will have to extend it’s credit card to all of Europe or get washed out to sea with the rest of them when the dike breaks. Seriously, what alternative do they have? The Chinese are starting to suffer mightily from this situation as well. They wanted a world economy, and they got it so Germany will have to inflate.
The world will not allow Germany to destroy it’s financial system and plunge billions of people into misery. Buy Gold, lots of inflation on the way, and soon.Posted: 5 hours, 35 minutes ago by AndrewP #3323
QE3 will definitely NOT be Treasuries. The Fed already owns a large fraction of long term bonds. Bernanke will probably buy mortgages the way he did in 2008-2009, although he could surprise us by purchasing real estate directly, or even stocks.Have the same feeling AndrewP. Think they are going to try and blow the market up to create a wealth effect, but who knows. They better do something and quickly. It may already be to late?
“Politically, I usually shy away from pure speculations, but I will make an exception here – it seems to me that this dismal NFP report is a blatant attack on Obama’s chances for relection by those with enough power/influence within the government. After all, we are all well aware of the lengths the Bureau of Labor Statistics can go to if they want to make a report appear significantly more favorable than it really is. Perhaps this report was SO bad that no amount of massaging could save it, but perhaps there are some with control over the BLS who did not want to save it. Justification for QE3 is certainly one part of this equation, but the ousting of President Obama and the “coronation” of Don Romney may be the other part.”
I always thought anyone that worked for the government was a Democrat, and isn’t there a Democrat in charge at the White House? TAE exposes a view of a world wide credit collapse and deflation, however it is just a Republican ploy if it shows up in the numbers before the election? Rush Limbaugh would devote an entire show to this one.
From: GoldMoney – Gold Research
https://www.goldmoney.com
Gold reserves as collateral
https://www.goldmoney.com/gold-research/newsdesk/gold-reserves-as-collateral.htmlLondon Good Delivery gold bars Yesterday’s big news as far as gold was concerned was a Telegraph report stating that Germany could be about to get into the “cash for gold” business in a big way. Angela Merkel is said to be increasingly favourable to the idea of countries pooling a portion of their sovereign debt into a redemption fund, with the eurozone then taking on a collective obligation to honour this debt. Member states would be obliged to pledge gold and currency reserves as collateral in case they are unable to make good on their obligations.
This so-called “European Redemption Pact” gets around German courts’ constitutional objections to “Eurobonds”. It would also allow PIIGS governments to in effect share “Germany’s credit card”, thus lowering borrowing costs in the eurozone periphery and so taking the pressure off of embattled governments in Spain, Greece, Italy and elsewhere. And a big plus point as far as Germany is concerned is that this is no free lunch: if countries cannot honour their commitments, then they will lose their collateral.
But of course, things are never as simple as that. The fly in the ointment here is the always-emotive subject of gold, with many in southern Europe sure to object to the idea of pledging their gold to such a venture. Italy’s sovereign gold reserves stand at 2,451 tonnes – worth €98 billion as of March – while France sits on a hoard of 2,435 tonnes, and Portugal 383 tonnes (Portugal actually owns around 72 tonnes more then the European Union’s second largest economy, the United Kingdom). Having thus far resisted pressure to sell gold in order to shore up state finances, many in these countries will no doubt be wary of this EU take on a “cash for gold” shopping mall kiosk.
This idea bears close attention. If it looks like taking off, it will be yet another indicator that gold is slowly but surely re-entering the financial calculations of governments around the world.
No one is discussing the gold they have in their possession, Is not the current state of affairs the reason they own it. The asset of last resort. It is my humble opinion that their pile of the shiny metal will start to grow brighter and brighter as the clouds darken.
@ RE Superb post RE. It is obvious that the Germans are being coerced IMHO. To be a fly on the wall at the REAL meeting would sure be something. You can bet the generals are there. No doubt Dr Fu Manchu has a seat at the table. That bank does not figure in this; it is a penny candy store. We are talking about a world wide financial collapse and panic here gentleman. These few half assed countries in Europe and their banks are some sort of distraction, the MSM spouts that nonsense all day; we are supposed to know better than to listen to their propaganda.
@jai There are still hiding places for the 1%. Switzerland, Germany Norway, etc. South America not in too bad a shape yet either. Brazil, Chile, Ecuador, Canada in North America has it’s quiet spots. Don’t get me wrong, things are real bad, but not for the mega rich. You will notice the politicians are still doing well for themselves also. Plenty of chauffeur driven meetings in the fancy hotels with great wines and chateaubriand. They decree Austerity for others but are much too important and special to engage in it themselves.
Both are a bad choice. They are just two heads of the same Mammon monster. We now measure the strength and likely success of our candidates by who can raise the most money. Integrity, platform, accomplishments, ideals, compassion, ability to serve as a role model for our youth, these and many attributes are cast aside as nonsense today.Who Can Raise the Most Money? Who Can Buy the Most Radio and TV ADS? Who is Photogenic and Looks Presidential? What a disgrace. We have the best political system corrupt fiat currency can buy.
Triv Quoted “Remember one thing, though, as this plays out. The bubble and the bust ARE A MONETARY PHENOMENON “.
This was a super posting Triv, The no penalties for these vermin is an excellent point that is brought up much to infrequently. You definitely have all the qualities of becoming a hard core gold bug. How I wish I could convert you to the Faith. Regards, From A Serious and Jesting Go.
pipefit Wrote: Thanks pipefit for pointing that out, a fact I knew, but I have the habit of meaning both when mentioning only one. Gold has always been the money of the Central Banks Governments to back and stabilize their currencies and give them intrinsic measurable value as well as a means for large transactions. Silver is the change, more available but still precious, cheaper and the vehicle for most pocket change and everyday purchases, existing alongside its more noble partner in a ratio that suits the transaction, choice, and means of the user. I would think a bi-metallic standard is a given due to the scarcity and always elevated price of gold. Anyone thinking silver is going directly to zero or close is either insane or has physical brain damage in my opinion. My thoughts on future inflation are such, I share John William’s view of an inevitable hyper inflation no more than a few years away, that I am beginning to think a tri-metallic standard is possible with copper replacing silver, silver replacing gold, and gold becoming so valuable and high priced that enormous transactions between corporations, governments, massive oil and agricultural deals become its more common type of usage in the future. A sort of mega money for real things where no paper or lesser metals are acceptable. Any ideas you have on the matter, or of course anyone involved in the discussion would be most appreciated.
Sez FOFOA: “In the end, physical gold will win out and prove to
be the greatest wealth holding anyone has ever known.”Yes, “Gold Will Win” It is the real money, evolved and freely chosen by mankind to be money. History says it, our US Constitution says it. All the mountains of gibberish from the intelligentsia are there to merely confuse and obfuscate the simple fact that their fiat paper is a fantasy, surviving only by forced legal tender laws of coercion, and endless lying and scholarly works of endless BS.
@Karpatok Sorry Option Writer, glad you finally got religion. Your new found love of humanity and attempt at goodness shows up clearly in your current prose.
Just about every picture I look at of a protest now contains pictures of so called police bashing people or gassing them. What a transformation has taken place in our country. Lets start calling them what they are, hired goons, taking orders from the military and Feds, paid mercenaries to protect TPTB at our expense. Police is not the proper word anymore for this group of skull crackers.
From Ray Dalio renowned successful investor
Saturday, May 19, 8:31 AM Ray Dalio explains the concept of a beautiful deleveraging and why the U.S. is in one, but the EU, not so much. He expects the ECB will ultimately print money and produce another big rally, “but this is a tougher time to be very confident about that scenario.” An “uncivilized” man, Dalio remains a fan of gold, recommending most have 10% of their assets in the metal.
It’s hard to imagine anyone navigating the rough seas of the past decade more ably than Ray Dalio, master and commander of money-management firm Bridgewater Associates, which oversees $120 billion for a roster of global clients that include foreign governments, pension funds and endowments.The Westport, Conn.-based company is the world’s largest hedge-fund firm and one of just a handful of players to place more than one fund on Barron’s annual Top 100 Hedge Funds ranking. This year Bridgewater’s flagship Pure Alpha II and its All Weather @12% global macro funds both make the list.
