This is all correct, and while we are looking at the potential for what is next, lets examine this,
“Contrast this with inflation, where dollars become worth less in the US so that you would be paying off your debts more cheaply”
I for one do not fall in the camp that Mr. Sinclair and his group believe will occur i.e. Weimer style inflation.
I believe the last few months have given us a real inside look at who and what will be protected at any cost by the government.
DEBT AND PAPER!
I have said this before as an argument against Weimer style inflation. The money must first get in the hands of the public before we can pay off our debts for pennies on the dollar and the boys in control are never going to let that happen.
The moneymen, the bankers, the lenders, the “ money changers” if you will, are deeply entrenched in our government.
Look at the bail out of the car companies compared to the bailout of the banks.
There is no possible way that the “money changers” are going to get caught in a situation where all their paper becomes worthless over night.
Slow inflation does not hurt them as bad since they have time to move in and out of various investments, but have the people pay off all their credit cards, cars, and mortgages with a months pay is just never going to happen.
Mr. Sinclair said at the first of the year that we should now be at $1200 Gold, and we should, but are we? There is absolutely no reason that PM’S should not be through the roof at this point.
Trillions of dollars are being created, but where is it? It is being manipulated at the upper levels, not put in the hands of the public.
Oil will probably bottom in the mid 20s. this will still represent more than a doubling over 10 years, or a 6-8% annual increase. That is more in line with the inflation rate.
Late 1998/early 1999 was the worst dip in oil prices in decades, manipulated down by several factors that likely don't exist today.
Regardless, I suspect with 6-8% you'd have a price target in the $50's today, if the reference point was *11* years ago.
<< <i>“there have been tales of tankers filled and sitting”
Well how about completely filling the SPR while they are desperate to move this stuff?
Lets offer $25 per barrel for a large bulk purchase and use the TARP money to pay!
“You and I will never see $150 oil again.”
Dave my friend, you and I will have to part ways on this idea. I think we will see $150 within 24 months. I think we are going to see some form of hyperinflation, the dollar will drop like a stone, and our cost will go right back up. We shall see. >>
GS,
Ask yourself this question, Is the world economic engine strong enough to support $150 oil? I have written many times that the best cure for high prices is high prices. Always, ALWAYS, holds true. The world is 50% smaller today than it was just 6 months ago. Do you see it doubling in the next 2 years? All the signs of massive overbuilding and investment are evident in both China and the Middle East. It's OVER!!!
<< <i>I disagree on the hyperinflation and the dollar dropping. This is not just a US problem and Europe has similar issues. If we both face the same problems and use somewhat similar fixes, then the dollar will hold its value against the euro and pound, among others. I do not see a country where the currency will be so strong as to cause hyperinflation with respect to either the dollar or the euro. It is all about relative value. Since the meltdown and bailouts here the dollar has strengthened against the euro and pound, recently giving back some to the euro, but still 15% (+/-) ahead of where it was earlier in the year. >>
In my opinion, the strengthening of the US dollar is just a temporary bounce, due to everyone deleveraging their assets and running into supposed 'strong' US dollars.
Considering Fundamentals alone, the US dollar is headed drastically lower.
In fact, I believe the US Fed is purposely intending this to happen as this is the only way the US can get out of their debt obligations. >>
Someone please tell me, please,..........in order for the dollar to weaken, other currencies must strenghten. Please tell me which currencies that will be, please!!! And please support with economic and fiscal evidence. I sincerely want to know.
<< <i>there have been tales of tankers filled and sitting, not going anywhere as storage for when the price does eventually go back up. why no conspiracy thoeries here (like gold and silver?)
I believe there are some conspiracies involved in crashing the price of oil just as gold was at the same time. Just follow it to those who would benefit. The whole commodity complex was targeted to bolster the USD and make the profiteers billions by shorting. The hedge funds never had a chance.
Goldsaint, I agree. We will see $150 oil, $1033 gold, $21 silver, and many other cyclical high commodities prices in the near future. I would not be surprised to see $200+ oil on the next stronger 1/2 cycle of the commodities boom.
roadrunner >>
The world's economic engine crashed when oil went from 100 to 150 within 6 months. How can you possibly believe the world can support $200 oil? It has already proven that it cannot even support $150. Case in point....Americans are driving fewer miles with $2 gas than they were with $4 gas. Demand has collapsed. The efforts of OPEC to cut production are only bringing supply in line with the current price. Their cuts will NOT lead to higher prices. Only increased demand will drive prices higher. There will be no increased demand.
<< <i> Oil will probably bottom in the mid 20s. this will still represent more than a doubling over 10 years, or a 6-8% annual increase. That is more in line with the inflation rate.
Late 1998/early 1999 was the worst dip in oil prices in decades, manipulated down by several factors that likely don't exist today.
Regardless, I suspect with 6-8% you'd have a price target in the $50's today, if the reference point was *11* years ago. >>
Ah, my fellow fishing friend, lets crunch some numbers.
During the 90s the median price of oil was $20---held this area for almost the entire decade. So lets say in 1995 it was $20. At 6% for 13 years we have $42. At 8% we have $54. After the oil contract roll today we have oil at $42. Coinincidence? If we use the 1996 high of $26.80 and use 6% we have $54. Or if we use the $11.40 low in 1998 and use 8% we arrive at $25. So there is your range for the foreseeable future---$25 to $55.
Im not saying oil cant go back to $50 as $50 is really no big deal. Heck, it was there 2 weeks ago. What I am saying is that there will be insufficient demand for sustained high oil prices and the much wished for inflation will not be present. Keep in mind, any increase in inflation will create demand destruction. The circle goes round and round.
<< <i>What major modern world city could be in this much trouble?
Read the clues and then scroll down:
Prisoners in jail don't want to be released; some who do get out promptly re-offend to head back where there's heat, medical care and feed every day. We see guys make a conscious decision they'll be better off in prison than in the community, homeless and hungry,"
There is no hurricane or other natural disaster to blame for problems here.
The jobless rate has climbed past 21 percent, the embattled schools just fired the superintendent, tens of thousands of homes and stores are derelict and abandoned.
Just one charity food program serves 41,000 people a month.
This cities population has gone from a peak of 1.8 million in the 1950s to half that now.
One apartment complex, for the elderly, is being built barely a block from two grade schools recently abandoned by the city, and now sitting empty and ransacked.
Then there's the vast area of decaying neighborhoods, with weedy, trash-strewn lots and vacant, burned-out houses. Hundreds of urban vegetable gardens citywide that have taken root on land cleared after the razing of abandoned homes.
The city's deficit is approaching 300 million U.S. dollars, the schools face a deficit of more than $400 million. Several dozen schools have been closed in the past three years.
Trying to combat its blight, this city has applied for $47 million from its central government for neighborhood stabilization money, with half earmarked to tear down more than 2,300 vacant homes.
About 44,000 of the 67,000 homes that have gone into foreclosure since 2005 remain empty.
Overall, the residential market is catastrophic, with the average price of a home in the city at $18,513.
DETROIT >>
Interesting though that Detroit has all the ingredients for a widely successful industry. All we have to do is develop the industry to take advantage of the infrastructure and cheap willing labor.
Someone please tell me, please,..........in order for the dollar to weaken, other currencies must strenghten. Please tell me which currencies that will be, please!!! And please support with economic and fiscal evidence. I sincerely want to know. >>
that has been a question of mine for months, only thing i can think of is a gazillion x trillion (my exaggration) more dollars (USD) than Euros, in a few years as an example. more so NOT the other fiat currency strengthening, just the USD weaking relative more so than the other fiat currencies. if that is not a possibility, then i can't think of anything else.
evidence explains the past but does not predict the future.....always explanations for why something did what it did...i think meterology forecasting has surpassed economic forecasting. i know you know a lot of folks are looking back at Weimar and making comparisons, yet i doubt we will get to that state of mind
“Im not saying oil cant go back to $50 as $50 is really no big deal. Heck, it was there 2 weeks ago. What I am saying is that there will be insufficient demand for sustained high oil prices and the much wished for inflation will not be present. Keep in mind, any increase in inflation will create demand destruction. The circle goes round and round.”
Dave my reasoning for oil going back to $150 is that it makes ABSOLUTLY NO SENSE, and therefore that is where it will go.
The problem with your explanation is that it is far too logical to work.
All the powers that be, already have the Joe six packs of the world convinced that we hit peak oil and in a decade or two everyone will need a horse.
This oil thing is like global warming, it does not matter that it does not exist, it only matters how the public is indoctrinated.
The simple fact of the matter is this, Russia, the Arabs et. al. got to have a bunch more money for their oil in order to maintain some type of peace in the World, and that price is south of $100. In addition, who is going to keep our socialist American system afloat if we do not get the big loans from the foreigners?
It is not a matter of making a logical case for cheaper oil you did that very well. It is a matter of how the politicians need to manipulate the price.
If one had a super computer and could try to calculate why oil went from $60 in Jan of 07 to $147 just a few months ago adding in every calulation, I am sure there is no REAL logical explanation.
<< <i>“Im not saying oil cant go back to $50 as $50 is really no big deal. Heck, it was there 2 weeks ago. What I am saying is that there will be insufficient demand for sustained high oil prices and the much wished for inflation will not be present. Keep in mind, any increase in inflation will create demand destruction. The circle goes round and round.”
Dave my reasoning for oil going back to $150 is that it makes ABSOLUTLY NO SENSE, and therefore that is where it will go.
The problem with your explanation is that it is far too logical to work.
All the powers that be, already have the Joe six packs of the world convinced that we hit peak oil and in a decade or two everyone will need a horse.
This oil thing is like global warming, it does not matter that it does not exist, it only matters how the public is indoctrinated.
The simple fact of the matter is this, Russia, the Arabs et. al. got to have a bunch more money for their oil in order to maintain some type of peace in the World, and that price is south of $100. In addition, who is going to keep our socialist American system afloat if we do not get the big loans from the foreigners?
It is not a matter of making a logical case for cheaper oil you did that very well. It is a matter of how the politicians need to manipulate the price.
If one had a super computer and could try to calculate why oil went from $60 in Jan of 07 to $147 just a few months ago adding in every calulation, I am sure there is no REAL logical explanation. >>
I don't exactly agree with your numbers but I definitely agree with you regarding your point about "I am sure there is no REAL logical explanation".
I'm discovering that it is USELESS trying to figure the market out and which way it will go. It's pointless.
One thing I'm sure about. - This market is the most CONTROLLED market in History. I still have my personal convictions as to which way the market will go, and I'm investing this way, but if it doesn't turn out, I won't be wondering WHY?
Totally, 100% manipulated market.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
I guess the difference to me is that I do see it clearly and it does make sense. Just try to filter out the day to day noise. The only thing I dont see clearly is the unintended consequences of incessant Govt intervention.
You might also ask, Who is going to keep 1 billion Chinese happy if Europe and The Americas stayed mired in a deep recession?
<< <i>Haven't we learned anything from the Maddoff Fraud. Paper silver and gold is just another Ponzi scheme. Get out while you can and only hold physical. >>
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
<< <i>Haven't we learned anything from the Maddoff Fraud. Paper silver and gold is just another Ponzi scheme. Get out while you can and only hold physical. >>
Both are good articles. If my understanding is right Paper GLD and SLV will never be allowed to collapse as long as the Federal Reserve Trough is available for banks to feed upon. One of the comments from the article below:
There is no law on this, because the event has never happened, but, theoretically, best execution regulations would require the broker to buy the gold promptly, on the spot market for you, to carry through the trade to its natural conclusion of delivery. The exchange would be under an obligation to reimburse you (and, therefore, the broker) on all costs. The broker should have no problem in taking whatever short term loans it needs to carry through the transactions. Keep in mind that your short selling counterparty is probably one of the biggest banks in the world, like JP Morgan, HSBC, Goldman Sachs, etc. They are obligated to carry through the transaction, so the likelihood that your broker will actually need to go to the London spot market to buy is VERY small. It will almost assuredly be done by the short sellers to save face. Remember, these banks all have complete access to the federal trough, and feed at it regularly, so money won't be a problem for them. Contrary to the visions of some metals aficionados, gold is very available, provided that the price paid is high enough. In short, I think the counterparty risk is minimal, especially if you buy a contract for the next available expiration date, and take delivery that month.
Texas Congressman Ron Paul All the programs since the Depression were meant to prevent recessions and depressions. Yet all that was done was to plant the seeds of the greatest financial bubble in all history. Because of this lack of understanding, the stage is now set for massive nationalization of the financial system and quite likely the means of production.
Although it is obvious that the Keynesians were all wrong and interventionism and central economic planning don’t work, whom are we listening to for advice on getting us out of this mess? Unfortunately, it’s the Keynesians, the socialists, and big-government proponents.
Who’s being ignored? The Austrian free-market economists – the very ones who predicted not only the Great Depression, but the calamity we’re dealing with today. If the crisis was predictable and is explainable, why did no one listen? It’s because too many politicians believed that a free lunch was possible and a new economic paradigm had arrived. But we’ve heard that one before – like the philosopher’s stone that could turn lead into gold. Prosperity without work is a dream of the ages.
Over and above this are those who understand that political power is controlled by those who control the money supply. Liberals and conservatives, Republicans and Democrats came to believe, as they were taught in our universities, that deficits don’t matter and that Federal Reserve accommodation by monetizing debt is legitimate and never harmful. The truth is otherwise. Central economic planning is always harmful. Inflating the money supply and purposely devaluing the dollar is always painful and dangerous.
The policies of big-government proponents are running out of steam. Their policies have failed and will continue to fail. Merely doing more of what caused the crisis can hardly provide a solution. The good news is that Austrian economists are gaining more acceptance every day and have a greater chance of influencing our future than they’ve had for a long time.
The basic problem is that proponents of big government require a central bank in order to surreptitiously pay bills without direct taxation. Printing needed money delays the payment. Raising taxes would reveal the true cost of big government, and the people would revolt. But the piper will be paid, and that’s what this crisis is all about.
There are limits. A country cannot forever depend on a central bank to keep the economy afloat and the currency functionable through constant acceleration of money supply growth. Eventually the laws of economics will overrule the politicians, the bureaucrats and the central bankers. The system will fail to respond unless the excess debt and mal-investment is liquidated. If it goes too far and the wild extravagance is not arrested, runaway inflation will result, and an entirely new currency will be required to restore growth and reasonable political stability.
The choice we face is ominous: We either accept world-wide authoritarian government holding together a flawed system, OR we restore the principles of the Constitution, limit government power, restore commodity money without a Federal Reserve system, reject world government, and promote the cause of peace by protecting liberty equally for all persons. Freedom is the answer.
<< <i>I'm waiting for a recovery against the yen.. It has not happened as of yet, but has against most other currency.
The yen carry trade unwindings have certainly helped the yen to show strength. It's a matter of when the unwinding finally ends in the carry trade and in the derivative contracts unwinding. Hard to say what is real with these major forces superimposed over the markets. Everything I've seen shows a double top in the dollar and a retreat back to the lower 80's due. At the same time oil and other commodities should bump back some. I guess it's hard for me to be bullish on bankrupt currencies. I won't be buying Icelandic Kroners anytime soon no matter how low they go. Considering the massive manipulations in all the markets since July, who can say what is real?
Do you have any links to good sources that explain this topic in more detail? Odd that in the 100's of articles I've read since the summer, I haven't seen one taking the above stance. And I do look at countra-commodity and stock views. If the dollar moves to .140 that would ensure a strong move back up in the S&P and Dow, probably to new highs. I don't see anyone discussing those possibilities. To me that seems extremely remote.
roadrunner >>
Hi, I agree. the Yen did move higher, and the low I have been looking for may have been reached. the latest low of 87.00 is now showing strength. we are above that low and this may be the time to take a long position dollars over yen, and a short position on Euro dollar.
what do you think? Are you looking for a new low on dollar yen before you buy dollars?
Ill post a new chart against my last chart to show the last low.
Last chart is below, this is were I was looking for further weakness of dollars to the yen.
The new chart shows The recent low.. This may be tested, but im not holding my breath, In short will we go higher from this level of 90.96?
A small long position here? on this chart, I see 3 waves up, looking for 5 to 7 waves up, and possibly a 4th wave pull back..
Yea, verily...the piper will be paid. Kind of like God and baseball, God doesn't want to know the particulars, he just wants to know who won. Kind of like debt, you can call it this and you can call it that but it means somebody owes something to somebody else and he's keeping track of it...the particulars don't matter.
ebaytrader, what part of the following don't you understand?
The choice we face is ominous: We either accept world-wide authoritarian government holding together a flawed system, OR we restore the principles of the Constitution, limit government power, restore commodity money without a Federal Reserve system, reject world government, and promote the cause of peace by protecting liberty equally for all persons. Freedom is the answer.
Be careful what you wish for. We're already over halfway there.
Q: Are You Printing Money? Bernanke: Not Literally
ebaytrader, what part of the following don't you understand?
The choice we face is ominous: We either accept world-wide authoritarian government holding together a flawed system, OR we restore the principles of the Constitution, limit government power, restore commodity money without a Federal Reserve system, reject world government, and promote the cause of peace by protecting liberty equally for all persons. Freedom is the answer.
Be careful what you wish for. We're already over halfway there. >>
i just don't think or can imagine "going back" to what was 200 years ago in reference to the Constitution, as much as i'd like to see it.
we have gone too far away from it. we would need to be faced with a political/economical Armageddon before some/most of Ron Paul's ideals would be taken seriously.
i do not consider him a joke, good or bad, he is not wrong in his thinking and premise.
he is NOT the second coming of anything, yet a wise and astute man of political and economic observation
Ever hear of the expression........" shoveling sand against the tide" ________________________________________________________ ________________________________________________________
Just move 20%+ of your non emergency liquid assets over to bullion whilest interest rates are at zero---you lose nothing in opportunity cost --and when the FED wakes up and starts ratcheting rates up(ala Volcker in the early 80's) move the bullion back to cash and catch the returns. If it's more complicated than that....please enlighten me.
Thomas Jefferson once said something like this, “ The government of the people belongs to the people that are living”
A large percentage of people living in America today are not those self-sufficient personalities of days gone by, not even close. Hundreds of thousands of Americans have become so dependent on government that they would literally parish if government were not there to sustain them.
Therefore in my opinion it is time to move along and give up on the idea that America will turn away from socialism and go back to its roots. This is not going to happen.
What is possible now, is saving one family at a time, and each of us has that job to do. Certainly we can try to teach others, and we have been doing that to the best of our abilities here for 4 years. Hopefully we will continue if our gracious host PCGS will allow.
--and when the FED wakes up and starts ratcheting rates up(ala Volcker in the early 80's) move the bullion back to cash and catch the returns. If it's more complicated than that....please enlighten me.
I'm not sure what returns you mean? CD's? Fwiw gold performed at it's best during the 1977-1980 move upwards as interest rates were ramped up into double digits. It took a couple of years of very high interest rates to finally subdue gold. After taking advantage of the inflationary move up from tangibles, then it would make sense to move into high interest yields such as CD's, assuming of course that hyperinflation doesn't take hold.
Jim Sinclair came out with some lulu's tonight, though he is still sticking to his orig date of 1/14/2011 as to when the peak in gold will occur by. A few months back he mentioned some major event/crisis to occur by 1/18/2009. I'm still wondering what the heck that one is about...and 2 days before the inauguration.
There is no way that the CONSEQUENCES of the largest creation of paper money since it was invented can be avoided or even modified. Odds now favor Alf Field’s price objective.
January 14th 2011 to June 21st, 2012:
The best part of this...is not the one you already know, which is January 14th 2011, but rather the date that a new currency form will replace the form of the US dollar as you know it today which is the third week of June 2012.
Alf Field is an accomplished Elliot Wave Theorist (ie technician and chartist) who has predicted the next move up in gold to take us to $2500 with a 20% or so pullback to follow. The final wave up will be 4X-5X the previous low. That is, in the $8K to $10K range. Alf is using the 2 completed waves that have occurred so far, and related those to how the 1971-1980 bull market played out. JS now feels that Alf's final numbers will be more accurate than his original 2001 prediction of $1650.
And this from GIM's Factfinder who is often enlightening and entertaining:
Well I do know that this year Credit Suisse has used 5 Billion dollars of their bailout money to give employees year end bonuses. but the real payoff in this scam all went down in 2006 before the ... hit the fan. That year Merrill Lynch reported record make believe earnings. In 2006 the inst handed out record bonuses also, including one rather large one to Dow Kim who's salary was 350,000 dollars that year. His bonus was 35 million dollars that year. We now know that those record earnings and Bonuses (6 Billion bonus dollars) were mostly based on paper lies. Merrill has now lost three times what they claimed they made that year on those same mortgage investments that spurred the record earnings and Bonuses. Now we all know that one inst spent some of their bailout money on the lavish party at the St. Regis spa. And as reported here another inst decided to spend their money in Brazil on a construction company, that made no headlines in the manipulated media to my surprise. But the real story is that no one knows what the inst's are doing with their Bailout bucks. JP Morgan Chase who picked up 25 Billion tax payer dollars in the bailout, were asked recently what they were doing with the money. Tomas Kelly a spokesperson for JPM replied "We have not disclosed that to the public, were declining to." The Associated Press did go out and survey 21 banks who picked up a Billion or more. Some of the banks replied that they simply did not know where the money was going. In other word's Shhh it's a secret.....
Bankrupt socialist countries are required to either print money or borrow it. Who here believes we can borrow an additional Trillion from China in 2009?
Dec. 29 (Bloomberg) -- The global recession is re-exposing fissures in U.S.-China relations that Treasury Secretary Henry Paulson spent more than two years smoothing over.
Heightened tensions between China and the U.S. may worsen a contraction in world trade that already threatens to deepen and prolong the economic downturn. The friction comes as President- elect Barack Obama readies a two-year stimulus package worth as much as $850 billion that will require the U.S. to borrow more than ever from China, the largest buyer of Treasury securities.
Lawyers representing companies such as Nucor Corp., the second-largest U.S. steelmaker, NewPage Corp., a maker of coated paper, and smaller textile and steel pipe makers say they are considering new trade complaints against China. During the presidential campaign, Obama promised groups including the National Council of Textile Organizations and the Alliance for American Manufacturing that he would take a tougher stance on China's currency policies.
So now Chia is upset cuz we arent buying their crap. LOL They should be joyous that our overconsumption for the past 30 years has brought them out of the dark ages. This all plays into a protracted period of low economic growth. It is so obvious.
Edited to add......China's currency is about to take a few belly shots, and perhaps an uppercut ot two.
ebaytrader, what part of the following don't you understand?
The choice we face is ominous: We either accept world-wide authoritarian government holding together a flawed system, OR we restore the principles of the Constitution, limit government power, restore commodity money without a Federal Reserve system, reject world government, and promote the cause of peace by protecting liberty equally for all persons. Freedom is the answer.
Be careful what you wish for. We're already over halfway there. >>
The question is: What don't you understand? >>
What I understand is that folks such as you, ebaytrader, are obviously just flat out ignorant or brainwashed or both... and it is very sad...
There is little reason for anyone to attempt to hold an intelligent conversation with you... I have read many of your posts over time...and like many on the forums... you seem to have your head firmly planted in a dark smelly place and are intent on defiantly keeping it there... so be it...
Re: Slabbed coins - There are some coins that LIVE within clear plastic and wear their labels with pride... while there are others that HIDE behind scratched plastic and are simply dragged along by a label. Then there are those coins that simply hang out, naked and free
Another Russian predicting Alaska will become a part of the Russian empire....
Last time it was a supposedly respected Russian official who stated that Alaska was only on lease to the US.
Seems to be a nationalistic trend for these frustrated folks.
Seller's remorse? Tough.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Comments
CalGold,
This is all correct, and while we are looking at the potential for what is next, lets examine this,
“Contrast this with inflation, where dollars become worth less in the US so that you would be paying off your debts more cheaply”
I for one do not fall in the camp that Mr. Sinclair and his group believe will occur i.e. Weimer style inflation.
I believe the last few months have given us a real inside look at who and what will be protected at any cost by the government.
DEBT AND PAPER!
I have said this before as an argument against Weimer style inflation. The money must first get in the hands of the public before we can pay off our debts for pennies on the dollar and the boys in control are never going to let that happen.
The moneymen, the bankers, the lenders, the “ money changers” if you will, are deeply entrenched in our government.
Look at the bail out of the car companies compared to the bailout of the banks.
There is no possible way that the “money changers” are going to get caught in a situation where all their paper becomes worthless over night.
Slow inflation does not hurt them as bad since they have time to move in and out of various investments, but have the people pay off all their credit cards, cars, and mortgages with a months pay is just never going to happen.
Mr. Sinclair said at the first of the year that we should now be at $1200 Gold, and we should, but are we?
There is absolutely no reason that PM’S should not be through the roof at this point.
Trillions of dollars are being created, but where is it? It is being manipulated at the upper levels, not put in the hands of the public.
Skip down to where "Gold is cheap international currency."
Some classic Greenspeak to boot.
Ren
Late 1998/early 1999 was the worst dip in oil prices in decades, manipulated down by several factors that likely don't exist today.
Regardless, I suspect with 6-8% you'd have a price target in the $50's today, if the reference point was *11* years ago.
<< <i>“there have been tales of tankers filled and sitting”
Well how about completely filling the SPR while they are desperate to move this stuff?
Lets offer $25 per barrel for a large bulk purchase and use the TARP money to pay!
“You and I will never see $150 oil again.”
Dave my friend, you and I will have to part ways on this idea. I think we will see $150 within 24 months.
I think we are going to see some form of hyperinflation, the dollar will drop like a stone, and our cost will go right back up. We shall see. >>
GS,
Ask yourself this question, Is the world economic engine strong enough to support $150 oil? I have written many times that the best cure for high prices is high prices. Always, ALWAYS, holds true. The world is 50% smaller today than it was just 6 months ago. Do you see it doubling in the next 2 years? All the signs of massive overbuilding and investment are evident in both China and the Middle East. It's OVER!!!
Knowledge is the enemy of fear
<< <i>
<< <i>I disagree on the hyperinflation and the dollar dropping. This is not just a US problem and Europe has similar issues. If we both face the same problems and use somewhat similar fixes, then the dollar will hold its value against the euro and pound, among others. I do not see a country where the currency will be so strong as to cause hyperinflation with respect to either the dollar or the euro. It is all about relative value. Since the meltdown and bailouts here the dollar has strengthened against the euro and pound, recently giving back some to the euro, but still 15% (+/-) ahead of where it was earlier in the year. >>
In my opinion, the strengthening of the US dollar is just a temporary bounce, due to everyone deleveraging their assets and running into supposed 'strong' US dollars.
Considering Fundamentals alone, the US dollar is headed drastically lower.
In fact, I believe the US Fed is purposely intending this to happen as this is the only way the US can get out of their debt obligations. >>
Someone please tell me, please,..........in order for the dollar to weaken, other currencies must strenghten. Please tell me which currencies that will be, please!!! And please support with economic and fiscal evidence. I sincerely want to know.
Knowledge is the enemy of fear
<< <i>there have been tales of tankers filled and sitting, not going anywhere as storage for when the price does eventually go back up. why no conspiracy thoeries here (like gold and silver?)
I believe there are some conspiracies involved in crashing the price of oil just as gold was at the same time. Just follow it to those who would benefit. The whole commodity complex was targeted to bolster the USD and make the profiteers billions by shorting. The hedge funds never had a chance.
Goldsaint, I agree. We will see $150 oil, $1033 gold, $21 silver, and many other cyclical high commodities prices in the near future. I would not be surprised to see $200+ oil on the next stronger 1/2 cycle of the commodities boom.
roadrunner >>
The world's economic engine crashed when oil went from 100 to 150 within 6 months. How can you possibly believe the world can support $200 oil? It has already proven that it cannot even support $150. Case in point....Americans are driving fewer miles with $2 gas than they were with $4 gas. Demand has collapsed. The efforts of OPEC to cut production are only bringing supply in line with the current price. Their cuts will NOT lead to higher prices. Only increased demand will drive prices higher. There will be no increased demand.
Knowledge is the enemy of fear
<< <i> Oil will probably bottom in the mid 20s. this will still represent more than a doubling over 10 years, or a 6-8% annual increase. That is more in line with the inflation rate.
Late 1998/early 1999 was the worst dip in oil prices in decades, manipulated down by several factors that likely don't exist today.
Regardless, I suspect with 6-8% you'd have a price target in the $50's today, if the reference point was *11* years ago.
Ah, my fellow fishing friend, lets crunch some numbers.
During the 90s the median price of oil was $20---held this area for almost the entire decade. So lets say in 1995 it was $20. At 6% for 13 years we have $42. At 8% we have $54. After the oil contract roll today we have oil at $42. Coinincidence? If we use the 1996 high of $26.80 and use 6% we have $54. Or if we use the $11.40 low in 1998 and use 8% we arrive at $25. So there is your range for the foreseeable future---$25 to $55.
Im not saying oil cant go back to $50 as $50 is really no big deal. Heck, it was there 2 weeks ago. What I am saying is that there will be insufficient demand for sustained high oil prices and the much wished for inflation will not be present. Keep in mind, any increase in inflation will create demand destruction. The circle goes round and round.
Knowledge is the enemy of fear
Nice clarity of thought there!
<< <i>What major modern world city could be in this much trouble?
Read the clues and then scroll down:
Prisoners in jail don't want to be released; some who do get out promptly re-offend to head back where there's heat, medical care and feed every day. We see guys make a conscious decision they'll be better off in prison than in the community, homeless and hungry,"
There is no hurricane or other natural disaster to blame for problems here.
The jobless rate has climbed past 21 percent, the embattled schools just fired the superintendent, tens of thousands of homes and stores are derelict and abandoned.
Just one charity food program serves 41,000 people a month.
This cities population has gone from a peak of 1.8 million in the 1950s to half that now.
One apartment complex, for the elderly, is being built barely a block from two grade schools recently abandoned by the city, and now sitting empty and ransacked.
Then there's the vast area of decaying neighborhoods, with weedy, trash-strewn lots and vacant, burned-out houses. Hundreds of urban vegetable gardens citywide that have taken root on land cleared after the razing of abandoned homes.
The city's deficit is approaching 300 million U.S. dollars, the schools face a deficit of more than $400 million. Several dozen schools have been closed in the past three years.
Trying to combat its blight, this city has applied for $47 million from its central government for neighborhood stabilization money, with half earmarked to tear down more than 2,300 vacant homes.
About 44,000 of the 67,000 homes that have gone into foreclosure since 2005 remain empty.
Overall, the residential market is catastrophic, with the average price of a home in the city at $18,513.
DETROIT >>
Interesting though that Detroit has all the ingredients for a widely successful industry. All we have to do is develop the industry to take advantage of the infrastructure and cheap willing labor.
Knowledge is the enemy of fear
Can you tell I have basically shut down trading operations for the year? Im not a big fan of thin, Holiday shortened trading weeks. Now I am bored.
Knowledge is the enemy of fear
<< <i>
Someone please tell me, please,..........in order for the dollar to weaken, other currencies must strenghten. Please tell me which currencies that will be, please!!! And please support with economic and fiscal evidence. I sincerely want to know. >>
that has been a question of mine for months, only thing i can think of is a gazillion x trillion (my exaggration) more dollars (USD) than Euros, in a few years as an example. more so NOT the other fiat currency strengthening, just the USD weaking relative more so than the other fiat currencies. if that is not a possibility, then i can't think of anything else.
evidence explains the past but does not predict the future.....always explanations for why something did what it did...i think meterology forecasting has surpassed economic forecasting.
i know you know a lot of folks are looking back at Weimar and making comparisons, yet i doubt we will get to
that state of mind
<< <i>LOL
Can you tell I have basically shut down trading operations for the year? Im not a big fan of thin, Holiday shortened trading weeks. Now I am bored.
go over to the coin forum they are debating some real exciting stuff over there, something about retail pricing and decimal points.
Dave my reasoning for oil going back to $150 is that it makes ABSOLUTLY NO SENSE, and therefore that is where it will go.
The problem with your explanation is that it is far too logical to work.
All the powers that be, already have the Joe six packs of the world convinced that we hit peak oil and in a decade or two everyone will need a horse.
This oil thing is like global warming, it does not matter that it does not exist, it only matters how the public is indoctrinated.
The simple fact of the matter is this, Russia, the Arabs et. al. got to have a bunch more money for their oil in order to maintain some type of peace in the World, and that price is south of $100. In addition, who is going to keep our socialist American system afloat if we do not get the big loans from the foreigners?
It is not a matter of making a logical case for cheaper oil you did that very well. It is a matter of how the politicians need to manipulate the price.
If one had a super computer and could try to calculate why oil went from $60 in Jan of 07 to $147 just a few months ago adding in every calulation, I am sure there is no REAL logical explanation.
<< <i>“Im not saying oil cant go back to $50 as $50 is really no big deal. Heck, it was there 2 weeks ago. What I am saying is that there will be insufficient demand for sustained high oil prices and the much wished for inflation will not be present. Keep in mind, any increase in inflation will create demand destruction. The circle goes round and round.”
Dave my reasoning for oil going back to $150 is that it makes ABSOLUTLY NO SENSE, and therefore that is where it will go.
The problem with your explanation is that it is far too logical to work.
All the powers that be, already have the Joe six packs of the world convinced that we hit peak oil and in a decade or two everyone will need a horse.
This oil thing is like global warming, it does not matter that it does not exist, it only matters how the public is indoctrinated.
The simple fact of the matter is this, Russia, the Arabs et. al. got to have a bunch more money for their oil in order to maintain some type of peace in the World, and that price is south of $100. In addition, who is going to keep our socialist American system afloat if we do not get the big loans from the foreigners?
It is not a matter of making a logical case for cheaper oil you did that very well. It is a matter of how the politicians need to manipulate the price.
If one had a super computer and could try to calculate why oil went from $60 in Jan of 07 to $147 just a few months ago adding in every calulation, I am sure there is no REAL logical explanation. >>
I don't exactly agree with your numbers but I definitely agree with you regarding your point about "I am sure there is no REAL logical explanation".
I'm discovering that it is USELESS trying to figure the market out and which way it will go. It's pointless.
One thing I'm sure about. - This market is the most CONTROLLED market in History. I still have my personal convictions as to which way the market will go, and I'm investing this way, but if it doesn't turn out, I won't be wondering WHY?
Totally, 100% manipulated market.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
I guess the difference to me is that I do see it clearly and it does make sense. Just try to filter out the day to day noise. The only thing I dont see clearly is the unintended consequences of incessant Govt intervention.
You might also ask, Who is going to keep 1 billion Chinese happy if Europe and The Americas stayed mired in a deep recession?
Knowledge is the enemy of fear
Box of 20
<< <i>Haven't we learned anything from the Maddoff Fraud. Paper silver and gold is just another Ponzi scheme. Get out while you can and only hold physical. >>
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
MASS Mutual is affected by over $3billion by Madoff fallout...who else is on the list?
found the list
rgCoinGuy...give us some more upbeat news, please!
GS i think oil has been manipulated up and down...all of it is way the freak above my pea brain
Madoff's list
1.We are in a deflationary period
that may lead to hyper Inflation
2. We are in a deflationary period that
may lead to a full born depression.
3. There is nothing to worry about, everything
will be OK by next year.
4. Gold and silver are the answer.
5. Gold and silver are not the answer.
6. Rare coins will rise along with gold and silver.
7. Rare coins will drop along with gold and silver.
8. Home prices will continue to drop which is good
for first time buyers.
9. Home prices will increase which is good for home
owners.
10.The experts and talking heads all know what will
happen next and you can trust their advice.
11. the above statement, is not fully opporative.
I hope this sum up produces a clarity of vision as to
future financial developments and offers you peace of
mind and full confidence in the future.
Camelot
emotional times of mass hysteria. Basically, gold
merely reflects the effects of inflation, or the declining
value of the currency at hand. Thus gold, is a storehouse
of absolute value, where an ounce of gold will always be
able to purchase the same amount of items, regardless of
inflation.
Camelot
<< <i>Haven't we learned anything from the Maddoff Fraud. Paper silver and gold is just another Ponzi scheme. Get out while you can and only hold physical. >>
article 1
article 2
There is no law on this, because the event has never happened, but, theoretically, best execution regulations would require the broker to buy the gold promptly, on the spot market for you, to carry through the trade to its natural conclusion of delivery. The exchange would be under an obligation to reimburse you (and, therefore, the broker) on all costs. The broker should have no problem in taking whatever short term loans it needs to carry through the transactions. Keep in mind that your short selling counterparty is probably one of the biggest banks in the world, like JP Morgan, HSBC, Goldman Sachs, etc. They are obligated to carry through the transaction, so the likelihood that your broker will actually need to go to the London spot market to buy is VERY small. It will almost assuredly be done by the short sellers to save face. Remember, these banks all have complete access to the federal trough, and feed at it regularly, so money won't be a problem for them. Contrary to the visions of some metals aficionados, gold is very available, provided that the price paid is high enough. In short, I think the counterparty risk is minimal, especially if you buy a contract for the next available expiration date, and take delivery that month.
Box of 20
Box of 20
<< <i>As advertised...DUCK! >>
Here is the socialist ad they are running in my state.
Click the tv ad
Yeah, this economy will be up an running in no time. LOL
Knowledge is the enemy of fear
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
BEST QUOTES
I also vote Ron Paul
Texas Congressman Ron Paul
All the programs since the Depression were meant to prevent recessions and depressions. Yet all that was done was to plant the seeds of the greatest financial bubble in all history. Because of this lack of understanding, the stage is now set for massive nationalization of the financial system and quite likely the means of production.
Although it is obvious that the Keynesians were all wrong and interventionism and central economic planning don’t work, whom are we listening to for advice on getting us out of this mess? Unfortunately, it’s the Keynesians, the socialists, and big-government proponents.
Who’s being ignored? The Austrian free-market economists – the very ones who predicted not only the Great Depression, but the calamity we’re dealing with today. If the crisis was predictable and is explainable, why did no one listen? It’s because too many politicians believed that a free lunch was possible and a new economic paradigm had arrived. But we’ve heard that one before – like the philosopher’s stone that could turn lead into gold. Prosperity without work is a dream of the ages.
Over and above this are those who understand that political power is controlled by those who control the money supply. Liberals and conservatives, Republicans and Democrats came to believe, as they were taught in our universities, that deficits don’t matter and that Federal Reserve accommodation by monetizing debt is legitimate and never harmful. The truth is otherwise. Central economic planning is always harmful. Inflating the money supply and purposely devaluing the dollar is always painful and dangerous.
The policies of big-government proponents are running out of steam. Their policies have failed and will continue to fail. Merely doing more of what caused the crisis can hardly provide a solution. The good news is that Austrian economists are gaining more acceptance every day and have a greater chance of influencing our future than they’ve had for a long time.
The basic problem is that proponents of big government require a central bank in order to surreptitiously pay bills without direct taxation. Printing needed money delays the payment. Raising taxes would reveal the true cost of big government, and the people would revolt. But the piper will be paid, and that’s what this crisis is all about.
There are limits. A country cannot forever depend on a central bank to keep the economy afloat and the currency functionable through constant acceleration of money supply growth. Eventually the laws of economics will overrule the politicians, the bureaucrats and the central bankers. The system will fail to respond unless the excess debt and mal-investment is liquidated. If it goes too far and the wild extravagance is not arrested, runaway inflation will result, and an entirely new currency will be required to restore growth and reasonable political stability.
The choice we face is ominous: We either accept world-wide authoritarian government holding together a flawed system, OR we restore the principles of the Constitution, limit government power, restore commodity money without a Federal Reserve system, reject world government, and promote the cause of peace by protecting liberty equally for all persons. Freedom is the answer.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>I'm waiting for a recovery against the yen..
It has not happened as of yet, but has against most other currency.
The yen carry trade unwindings have certainly helped the yen to show strength. It's a matter of when the unwinding finally ends in the carry trade and in the derivative contracts unwinding. Hard to say what is real with these major forces superimposed over the markets. Everything I've seen shows a double top in the dollar and a retreat back to the lower 80's due. At the same time oil and other commodities should bump back some. I guess it's hard for me to be bullish on bankrupt currencies. I won't be buying Icelandic Kroners anytime soon no matter how low they go. Considering the massive manipulations in all the markets since July, who can say what is real?
Do you have any links to good sources that explain this topic in more detail? Odd that in the 100's of articles I've read since the summer, I haven't seen one taking the above stance. And I do look at countra-commodity and stock views. If the dollar moves to .140 that would ensure a strong move back up in the S&P and Dow, probably to new highs. I don't see anyone discussing those possibilities. To me that seems extremely remote.
roadrunner >>
Hi, I agree.
the Yen did move higher, and the low I have been looking for may have been reached.
the latest low of 87.00 is now showing strength.
we are above that low and this may be the time to take a long position dollars over yen, and a short position on Euro dollar.
what do you think? Are you looking for a new low on dollar yen before you buy dollars?
Ill post a new chart against my last chart to show the last low.
Last chart is below, this is were I was looking for further weakness of dollars to the yen.
The new chart shows The recent low.. This may be tested, but im not holding my breath, In short will we go higher from this level of 90.96?
A small long position here? on this chart, I see 3 waves up, looking for 5 to 7 waves up, and possibly a 4th wave pull back..
Charts web page, good free tools.
here is the same chart with more detail, any thoughts?
I have found power in the mysteries of thought.
It is always a question of knowing and seeing, and not that of believing.
Our virtues, and our failings are inseparable, like force, and matter. When they separate, man is no more.
.
Cloth yourself in wild animal skins
wrap your feet in animal skins
Don't drink beer or wine]
(Go to a friend's house to drink)
Do not drive your car
Camelot
Yea, verily...the piper will be paid. Kind of like God and baseball, God doesn't want to know the particulars, he just wants to know who won. Kind of like debt, you can call it this and you can call it that but it means somebody owes something to somebody else and he's keeping track of it...the particulars don't matter.
<< <i>I also vote Ron Paul >>
Ron Paul is a bad joke.
ebaytrader, what part of the following don't you understand?
The choice we face is ominous: We either accept world-wide authoritarian government holding together a flawed system, OR we restore the principles of the Constitution, limit government power, restore commodity money without a Federal Reserve system, reject world government, and promote the cause of peace by protecting liberty equally for all persons. Freedom is the answer.
Be careful what you wish for. We're already over halfway there.
I knew it would happen.
<< <i>Ron Paul is a bad joke.
ebaytrader, what part of the following don't you understand?
The choice we face is ominous: We either accept world-wide authoritarian government holding together a flawed system, OR we restore the principles of the Constitution, limit government power, restore commodity money without a Federal Reserve system, reject world government, and promote the cause of peace by protecting liberty equally for all persons. Freedom is the answer.
Be careful what you wish for. We're already over halfway there. >>
The question is: What don't you understand?
One thing that I do understand, is that it's not a joke. And Ron Paul's not joking either.
Just for clarity, why do you consider Ron Paul to be a "bad joke"?
I knew it would happen.
we have gone too far away from it. we would need to be faced with a political/economical Armageddon before some/most of Ron Paul's ideals would be taken seriously.
i do not consider him a joke, good or bad, he is not wrong in his thinking and premise.
he is NOT the second coming of anything, yet a wise and astute man of political and economic observation
Problem is.....so do a lot of people.
Ever hear of the expression........" shoveling sand against the tide"
________________________________________________________
________________________________________________________
Just move 20%+ of your non emergency liquid assets over to bullion whilest interest rates are at zero---you lose nothing in opportunity cost --and when the FED wakes up and starts ratcheting rates up(ala Volcker in the early 80's) move the bullion back to cash and catch the returns. If it's more complicated than that....please enlighten me.
Problem is.....so do a lot of people.”
This is correct and it makes no difference now.
Thomas Jefferson once said something like this, “ The government of the people belongs to the people that are living”
A large percentage of people living in America today are not those self-sufficient personalities of days gone by, not even close. Hundreds of thousands of Americans have become so dependent on government that they would literally parish if government were not there to sustain them.
Therefore in my opinion it is time to move along and give up on the idea that America will turn away from socialism and go back to its roots. This is not going to happen.
What is possible now, is saving one family at a time, and each of us has that job to do. Certainly we can try to teach others, and we have been doing that to the best of our abilities here for 4 years. Hopefully we will continue if our gracious host PCGS will allow.
I'm not sure what returns you mean? CD's? Fwiw gold performed at it's best during the 1977-1980 move upwards as interest rates were ramped up into double digits. It took a couple of years of very high interest rates to finally subdue gold. After taking advantage of the inflationary move up from tangibles, then it would make sense to move into high interest yields such as CD's, assuming of course that hyperinflation doesn't take hold.
Jim Sinclair came out with some lulu's tonight, though he is still sticking to his orig date of 1/14/2011 as to when the peak in gold will occur by. A few months back he mentioned some major event/crisis to occur by 1/18/2009. I'm still wondering what the heck that one is about...and 2 days before the inauguration.
There is no way that the CONSEQUENCES of the largest creation of paper money since it was invented can be avoided or even modified. Odds now favor Alf Field’s price objective.
January 14th 2011 to June 21st, 2012:
The best part of this...is not the one you already know, which is January 14th 2011, but rather the date that a new currency form will replace the form of the US dollar as you know it today which is the third week of June 2012.
Alf Field is an accomplished Elliot Wave Theorist (ie technician and chartist) who has predicted the next move up in gold to take us to $2500 with a 20% or so pullback to follow. The final wave up will be 4X-5X the previous low. That is, in the $8K to $10K range. Alf is using the 2 completed waves that have occurred so far, and related those to how the 1971-1980 bull market played out. JS now feels that Alf's final numbers will be more accurate than his original 2001 prediction of $1650.
And this from GIM's Factfinder who is often enlightening and entertaining:
Well I do know that this year Credit Suisse has used 5 Billion dollars of their bailout money to give employees year end bonuses. but the real payoff in this scam all went down in 2006 before the ... hit the fan. That year Merrill Lynch reported record make believe earnings. In 2006 the inst handed out record bonuses also, including one rather large one to Dow Kim who's salary was 350,000 dollars that year. His bonus was 35 million dollars that year. We now know that those record earnings and Bonuses (6 Billion bonus dollars) were mostly based on paper lies. Merrill has now lost three times what they claimed they made that year on those same mortgage investments that spurred the record earnings and Bonuses. Now we all know that one inst spent some of their bailout money on the lavish party at the St. Regis spa. And as reported here another inst decided to spend their money in Brazil on a construction company, that made no headlines in the manipulated media to my surprise. But the real story is that no one knows what the inst's are doing with their Bailout bucks. JP Morgan Chase who picked up 25 Billion tax payer dollars in the bailout, were asked recently what they were doing with the money. Tomas Kelly a spokesperson for JPM replied "We have not disclosed that to the public, were declining to." The Associated Press did go out and survey 21 banks who picked up a Billion or more. Some of the banks replied that they simply did not know where the money was going. In other word's Shhh it's a secret.....
roadrunner
devaluation and stabilization of the dollar (with a peg of some sort)
no more free float
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Bankrupt socialist countries are required to either print money or borrow it.
Who here believes we can borrow an additional Trillion from China in 2009?
Dec. 29 (Bloomberg) -- The global recession is re-exposing fissures in U.S.-China relations that Treasury Secretary Henry Paulson spent more than two years smoothing over.
Heightened tensions between China and the U.S. may worsen a contraction in world trade that already threatens to deepen and prolong the economic downturn. The friction comes as President- elect Barack Obama readies a two-year stimulus package worth as much as $850 billion that will require the U.S. to borrow more than ever from China, the largest buyer of Treasury securities.
Lawyers representing companies such as Nucor Corp., the second-largest U.S. steelmaker, NewPage Corp., a maker of coated paper, and smaller textile and steel pipe makers say they are considering new trade complaints against China. During the presidential campaign, Obama promised groups including the National Council of Textile Organizations and the Alliance for American Manufacturing that he would take a tougher stance on China's currency policies.
Edited to add......China's currency is about to take a few belly shots, and perhaps an uppercut ot two.
Knowledge is the enemy of fear
<< <i>
<< <i>Ron Paul is a bad joke.
ebaytrader, what part of the following don't you understand?
The choice we face is ominous: We either accept world-wide authoritarian government holding together a flawed system, OR we restore the principles of the Constitution, limit government power, restore commodity money without a Federal Reserve system, reject world government, and promote the cause of peace by protecting liberty equally for all persons. Freedom is the answer.
Be careful what you wish for. We're already over halfway there. >>
The question is: What don't you understand? >>
What I understand is that folks such as you, ebaytrader, are obviously just flat out ignorant or brainwashed or both... and it is very sad...
There is little reason for anyone to attempt to hold an intelligent conversation with you... I have read many of your posts over time...and like many on the forums... you seem to have your head firmly planted in a dark smelly place and are intent on defiantly keeping it there... so be it...
<< <i>The end of the United States by 2010? >>
It is MUCH MUCH MUCH more likely that Russia--east of the Ural Mtns-- will belong to China.
Knowledge is the enemy of fear
<< <i>The end of the United States by 2010? >>
Oh Boy!!
Another Russian predicting Alaska will become a part of the Russian empire....
Last time it was a supposedly respected Russian official who stated that Alaska was only on lease to the US.
Seems to be a nationalistic trend for these frustrated folks.
Seller's remorse? Tough.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff