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Remember, this is the precious metals forum.....

roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
......not a political bashing forum.

The transition from gold to economy to bailout to politicians and banksters is quite easy to make. And I see us spending more time on the political side of the argument, myself included. It's too easy in light of all that is occuring around us. This is not the place to tear down our elected officials regardless of what they may have done or not done. But in the case of Bernanke and Paulson....well, they aren't elected by the people.

We need to show additional restraint to try and weed out the extraneous sides of our opinions and stick to economics and metals. It's a hard thing to do but it's what's necessary if we don't want to escalate into the old "OK Coral" Open Forum and get this new forum removed.

roadrunner
Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold

Comments

  • jmski52jmski52 Posts: 22,897 ✭✭✭✭✭
    Good point, rr. But it's just so easy to do!!

    My biggest concerns about this bailout is that, depending on who you read and who you believe, the $700 Billion is just the tip of the iceberg.

    If Mogambo Guru is correct, and if investment banks are becoming commercial banks who can create their own fiat, then I believe that the prices of gold and silver have no ceiling.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BBNBBN Posts: 3,761 ✭✭✭
    The only problem is PMs are SO VERY closely tied to what our ever lovin' politicians do, but yeah, I guess we need to have some restraint to keep it going.

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    As investment banks those guys were creating equity out of thin air with leverage of 20, 30, ...., 50-1. And with Fannie and Freddie up to 100 to 1. They were in effect short circuiting the monetary system with their credit creation and calling it money. How else did we get to $1,000,000,000,000,000 when the entire world's economy is less than 1/10th of that? With only a 10-1 or 12-1 leverage we actually have a better chance to control them as the new stuff will have to be on the balance sheets and valued to market. On top of that all their old bets and derivatives need to be gone through. If this doesn't happen we've accomplished nothing.

    Reinstitute short selling, put the uptick rule back in, much tighter controls on derivatives, and make the crooks that have already run away pay back their shares. In other words put all the controls back in that were taken down during the past 30 years that worked so well for so long. And consider putting back in truth in advertising with reliable and accurate CPI, unemployment, M3, and GDP reporting. Strip away the "new" powers that the FED thinks they now have. Put those in writing. Better yet, dismantle the Federal Reserve System while we still can. Put new controls on our currency and liquidity creation. This will ensure a more vibrant and repeatable economy. Consider eliminating or reducing the 10-1 fractional reserve ratio which is inherently inflationary. We are not a new nation growing like we did 40-60 years ago and don't need that leverage of debt. The banks serve us, not the other way around.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold


  • << <i>Remember, this is the precious metals forum..... >>

    Guilty as charged. image

    << <i>.....not a political bashing forum. >>

    In my defense, I wasn't bashing, just pointing out the obvious... image

    Sorry.


  • Sorry, I'm guilty, too!

    Here, I will try to make amends:

    image

  • I think it would be impossible to discuss the past, present, and future of PMs without injecting
    some kind of politics.

    Please find me ONE example in the last century that politics did not play a roll in the price of PMs??

    I understand the logic that bashing McCain and Obama should be off limits. As they do not directly
    affect the value of my investments. At this time anyway...

    But I am sorry. I have to disagree on the point that the Feds and the Treasury, not to mention
    the greed on Wall St do not play a roll in my investments.

    This current economic issue we are dealing with has far more reaching problems than me worrying about
    who I am going to offend by posting a comment or a news story..

    If you find something you don't like there is a simple solution.. DON'T READ IT...

    If it gets too off topic Carolj will take care of it. But if you can find me proof that in the last 30 years
    the Federal Goverment and their actions had no direct affect on PMs please forward it to me..

  • But I am sorry. I have to disagree on the point that the Feds and the Treasury, not to mention


    image

    No Holds Barred!

    These groups effect PM's ---> FED, Treasury, Wall Street Weasels and the Politicians who are trying to fund the communist 'community organizing group' ACORN with the Bail-out paybacks!

    This is NOT being reported in Main Stream Media!

    ACORN Slush Fund! Chicago Radicals to get Billions!

    On the other hand, my Gold Stash will double in value.........I suppose I should look out for me, right?

    Its become a contagion....selfishness
  • OPAOPA Posts: 17,124 ✭✭✭✭✭
    Is that a "milk spot" on the reverse proof?

    Just kiddding
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,897 ✭✭✭✭✭
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>Is that a "milk spot" on the reverse proof?

    Just kiddding >>



    no, it's there in the field, and it's toast

  • Hmm...don't know, I don't own it anymore, sold it for Gold last year.
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