Golden Oxen
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It is called Fedspeak, and it is as meaningful and truthful as the economic statistics from Big Brother. We should be in the midst of an economic boom two weeks before the election according to them.
@Greenpa Enjoyed your post and unique insights. Reminded me also of an old saying; “There Will Always Be A London.”
It most certainly appears to be a bleak situation, however there is always hope and the other side of the coin. It is a beautiful country with a rich and enviable history. Perhaps somewhere among that population of unemployed youth something positive will develop for their future. Never forget the eternal optimism of young people and their desire to change the world for the better, especially a well educated, internet savvy group of kids.
Stan Laurel & Oliver Hardy more apt methinks. Better match in the grey matter department, and one just as hilarious as the other.
@ Reverse Engineer. Then how did we make it to 1970.? What you are saying is you would have had to RAISE the price of gold and reward the people who did not fall for the paper con, in order to issue more bogus fiat. Since that would mean rewarding the wise thrifty saver and punishing the I want it now credit junkie, it is not comprehensible or convenient for you to honor your legal contractual promise and here we are today. That yarn you spun about saving the industrial paradigm by saying good bye to gold has to be satire. You will notice that the gold got to 1900 anyway, and the wise and thrifty who are still on the gold standard are doing okay, it is the fiat fools that are in all the trouble.
Why? What did you expect when the dollars link to gold was entirely severed? What did you expect when the banksters were allowed to mail everyone in the country a FREE credit card with usury rates of interest? What did you expect with the Goldman Suchs poster boy Rubin doing away with the Glass-Steagall act? What did you expect when the congress of the US granted total legal immunity to the former head of Goldman Suchs to save us from the financial horror created by him and his cohorts. Are you expecting the SEC and CFTC, or rather Sheriff Andy and Barney Fife to round up the Gambino family with squat teams and place them in the slammer, or are you expecting Eric Holder to roundup the banksters, like Corzine, Mozilo etc. to restore faith in our system. In all fairness I should mention they were successful in putting that financial terrorist Martha Stewart behind bars for selling a few thousand shares of a stock she purchased with her own money on an inside tip. She was charged with lying and shivers were sent down the spines of all the banksters when learning of her incarceration. We have the best government, and legal regulation, that corrupt fiat paper can buy, that’s why el gallinazo.
@ Reverse Engineer ” Go back to New York and tell your Goombah that NOBODY tells Jack Woltz what to do.”
@Babble True enough, however the fact remains that it cannot be paid. At least not with money having the same value as when it was borrowed. Perhaps it is a price we pay for letting it happen??.
Appears to be an informative article; unfortunately my brain goes tilt at the $22 trillion time bomb headline. China’s debt, the entire world’s debt can no longer be comprehended by the sane. What comes after a Trillion, a Zillion? Is a Zillion a Million Trillion, or is it a Trillion Trillion? Might I place the idea of a world wide debt moratorium, or debt forgiveness scheme on the table for comment.? Yes, it is an outlandish idea, but at least understandable.
Nice Logos Jerry, my only problem with them is the use of a US coin tends to make TAE appear country specific.
Just how much gold would have been very helpful in determining what he really thought about the future. I am very skeptical of any bankster that gets religion after salting his stash away, be it Stockman, or Buffet whining about how he is sick and tired of being coddled by the tax man. Has Stockman made modifications to his home, like Stoneleigh, to prepare for the coming disaster? I have a sneaking suspicion that a bear market in his previously owned portfolio is the only disaster he sees coming, and has prepared himself nicely to avoid it and scoop up those bargains at the bottom.
What an article. Magical, entrancing, sheer poetry. Cannot stop looking at that cave art and wondering and conjecturing about the artist and so many other related topics. Ashvin’s deep concern for the downtrodden came through loud and clear, and lent a poetic feel to the work.
This privatization of drinking water topic, mentioned in this article, is a much overlooked situation that needs immediate public outcry and remedial action. It could very well turn out to be the greatest robbery of all. The nerve of them!
I was referring to your comment about my elemental friend’s reaction to the fed speak of the day having any predictive value as to their future printing activities. My choice of the word nonsense previously was unfortunate; and I apologize for it’s unintended consequence. I am obviously a gold bug that has had a bad day.
Might I suggest you broaden your time horizon a bit Ashvin. Some of us are playing this thing for our long term survival, not day trading. Print they always have and print they always will, no matter what the banter they throw out to the cannon fodder. You should know better. Take a look at a long term chart of the gold price from 2000 BC until today and it will certainly clear up the matter for you.
Every central bank in the world printing like crazy. this article is nonsense. Read John Williams of Shadow Stats to see what these mad men are up too.
@MR166 What nonsense!
@NZSanctuary Even more amazing is the goon squad police going along with it.Debtor’s prisons to music sharing prisons, a century of progress.
@Brunswickian, Wrong Country, Spain is the one that causes Humpty Dumpty to fall
The Chinese have urged their citizens to buy gold as a savings and monetary instrument, unlike the absurd US and Britain which constantly demean it as an item for fools. This fact ensures that China will choose the inflation route over chaos. They will survive the inflation and we will not. Watch for the problems you see arising in China to happen inside your own country. How many Chinese have a five thousand dollar balance on their credit card and zero savings??
Would just like to add that the complicity of our disgusting press is never given it’s proper credit in the aid and adulation it gives to the Bankster filth that have destroyed our way of life.
No, I do not want to bet my life’s savings. The defender of my currency however assures me that he will make it worthless soon if I don’t. His recent actions have assured me he is not bluffing. What to do, What to do?? Have tried gold and silver stocks as well as some oils, but not working out very well so far. No answers here, just questions???
