50 Mind Blowing Facts About America That Our Founding Fathers Never Would Have Believed
If our Founding Fathers were alive today, what would they think of America? Surely they would be very proud that the United States stretches from the Atlantic to the Pacific and has built some of the most amazing cities that the world has ever seen. They would probably be surprised that the country they founded went on to become the greatest economic machine in the history of the world, and they would be absolutely astounded by things like our interstate highway system and the Internet. However, there are quite a number of things that they would be horrified about as well. The fact that over 40 million Americans are dependent on the federal government for their daily food would be deeply disturbing to our founders. Also, the fact that the U.S. government has accumulated the greatest mountain of debt in human history would be incredibly distressing to George Washington, Thomas Jefferson and the rest of the founders. But perhaps most of all, our founders would be absolutely disgusted that the land where Americans could once be free to pursue life, liberty and the pursuit of happiness has become so tightly regulated and controlled that Americans dare not even squeak without the permission of the federal government. Our Founding Fathers Never Would Have Believed
The u.s as we would like it to be is just a memory now , its over folks so just get used to it. In five years from now you will think of this time as the good old years. Im getting prepared and picking out a nice spot under I-95 near to Walmart, location location location
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"...picking out a nice spot under I-95 near to Walmart, location location location."
See if you can find a spot near a Buckys, they keep the places real clean and there's less riff-raff and they have a few dozen different kinds of beef jerky.
I believe eventually there will be no middle class. Just Rich and Poor which will be unsustainable as a nation, since the Rich will not be able to support the dependent poor that relies solely on the government, I expect a French-style revolution. Guillotines will be in vogue again.
Gold's Rise Dependent On How Low US Dollar Will Go: Ron Paul
Gold will continue its rise since the US dollar could potentially be defaulted on completely, said U.S. Rep. Ron Paul, R-Tex., a keynote speaker at the Kitco Metals eConference Sunday.
So what is the argument for gold confisication by the federal gov't. What are the reasons they will do this? If Gold hits $5000 or $10,000 an ounce, will it once again be illegal to own gold? Will they confisciate gold to help pay for the National Debt or to back up the dollar once again. I don't see the U.S. going back on the gold standard because it would not be able to sustain its many unfunded liablitlies, finance its wars, etc, which was made possible by fiat. Any thoughts?
So what is the argument for gold confisication by the federal gov't. What are the reasons they will do this? If Gold hits $5000 or $10,000 an ounce, will it once again be illegal to own gold? Will they confisciate gold to help pay for the National Debt or to back up the dollar once again. I don't see the U.S. going back on the gold standard because it would not be able to sustain its many unfunded liablitlies, finance its wars, etc, which was made possible by fiat. Any thoughts?
1. Because they can and have demonstrated the willingness to do similar things countless times in the past (see link above in Mr Early's post) 2. It would punish the $@#& gold bugs, who are undoubtedly the cause of our economic mess. If they weren't speculating, none of this would have happened. 3. He who has the most gold....and tolerable debt, wins (as JPMorgan once said, only gold is money) 4. It would get the punishing administration more votes from the sheeple because it would be a sign that they are doing something about the crisis (ie punishing gold bugs) 5. If not confiscation then at least massive taxation on gold (VAT, windfall profit taxes, etc.). 6. Deflect the blame from the govt back towards inanimate objects (gold) and their worshippers (gold bugs) 7. When the dust settles from all this, having gold will be the best capital available to jump start ailing economies, even if leveraged up 20-1, 100-1 or 1000-1. 8. Trading away fiat money for gold and other precious goods is always a wise move during time of currency crisis.
Waxman and Weiner need to be bounced out of Congress asap
Wax on.......wax off, Danielson.
These jokers are trying to go after gold regulations as the magic cure of all our ills....yet they won't even try to peek under the 800 lb. boulder that has the economy pinned down (ie $1.1 QUAD in otc derivatives). Congressmen W&W, what caused the problem, the 1 oz gold coin the J6P has in his pocket or that 800 lb. boulder that's sitting on top of him? Is removing that coin going to cure the problem?
Well, certainly removing that 1 oz gold coin from Joe's pocket and then delivering it to the US Treasury will contribute to the cause.
I don't know that anyone wants every back room employee in every coin establishment that we do business with to have access to our ssan AND drivers license address on a 1099 for gold sales EVERY TIME WE BUY OR SELL A COIN...this just does not seem to be a good idea.
What the heck are we gonna do with numismatic gold coin to keep ownership private and out of the public arena? Are we allowed to have private assets any more or are we just not supposed to buy or sell them.
Hyperinflation is the END GAME ! When populations PANIC and lose confidence in the currency and hence dump it for anything from consumer goods to hard assets, which in our fast moving financial world probably means that hyperinflation would occur within a matter of hours rather than months as Weimar Germany experienced during the 1920's: Nadeem Walayat .....good point...because it's all electronic now.
Katz is still waiting for the first annual decline in CPI in decades. Being an economist, he doesn't think much of his profession. I can still remember back in my Freshman Economics 101 class back in 1972 using the Samuelson text and trying to make sense of the FED's money multiplier ratio. I was very uneasy with this concept being a math major as it seemed like creating 10X more money out of thin air. What would Einstein or Gauss have said about that. But we were assured that this was in fact how it worked and it was reality based. It's how the system worked, and worked well. Well, a few decades later and I knew that my initial feelings were proven correct. Too bad we aren't given money multipliers in our weekly paychecks.
Ironically, the NBER came out to tell us all today that the recession/depression ended 15 months ago. I'm sure glad we have govt economists around to tell us where we're at.
<< <i>Hyperinflation is the END GAME ! When populations PANIC and lose confidence in the currency and hence dump it for anything from consumer goods to hard assets, which in our fast moving financial world probably means that hyperinflation would occur within a matter of hours rather than months as Weimar Germany experienced during the 1920's: Nadeem Walayat .....good point...because it's all electronic now.
Katz is still waiting for the first annual decline in CPI in decades. Being an economist, he doesn't think much of his profession. I can still remember back in my Freshman Economics 101 class back in 1972 using the Samuelson text and trying to make sense of the FED's money multiplier ratio. I was very uneasy with this concept being a math major as it seemed like creating 10X more money out of thin air. What would Einstein or Gauss have said about that. But we were assured that this was in fact how it worked and it was reality based. It's how the system worked, and worked well. Well, a few decades later and I knew that my initial feelings were proven correct. Too bad we aren't given money multipliers in our weekly paychecks.
Ironically, the NBER came out to tell us all today that the recession/depression ended 15 months ago. I'm sure glad we have govt economists around to tell us where we're at.
roadrunner >>
And what it all comes down to is that, if you want to be a good speculator (or a good person), then you have to see reality as it is. This is easier said than done. These five little words contain a crucially important moral virtue. To actually follow them requires a lot of work. You must draw your own conclusions in defiance of what the people around you believe (and are trying to shove down your throat). This is the virtue known as contrary opinion. You must put your emotions aside and believe what is true, not what you want to believe. Emotions are great things, but a strong emotion can cloud the mind. If you try to suppress the emotion, it will just get stronger and come out in ways of which you are not aware. What you must do is to tell your emotion to temporarily stand aside.
Most people don't seem to be able to do this. They can't step outside of their time or place. They can't go against the flow.
They always want to do what everyone else is doing and that makes them exceedingly dangerous because panics often are the result. Ig- norance and the status quo are always the result.
Real Money, Real Freedom A podcast with Peter Schiff George W. Bush famously blamed the economic crisis on Wall Street getting drunk. Sure, said Peter Schiff, but who supplied the liquor? It was Greenspan and the Fed, and Bernanke is still at the bar, handing out free booze. The result has been a continuing depression, with smart business people moving overseas. All is not lost, by any means. We just need sound money, saving and investment, and an end to government meddling and confiscation. Sounds like science fiction, but in a crisis, good things can happen as well as bad.
posted because of a banned word in the link (co$ktail) from safehaven site today
By: Richard Benson | Thu, Sep 30, 2010 Share Print Email The interesting part of growing older, that my wife and I have noticed, is the appearance that time speeds up. As each month that passes turns into years, as a 60+-year-old I'm feeling the passage of time quite differently than a child would; a year to me feels more like a month, whereas a month in a child's life feels like a lifetime. Needless to say, I'm still encouraged to continue my favorite pastime of tracking the fluctuations in the cost of living, and my fascination with prices and values has not waned one bit. Also, my wife's frugalness and aversion to throwing food away has made me very curious about commodity prices, so recently I did some research and discovered the facts weren't pretty. Below are some Commodity Price increases over the past year:
Commodity Price % Increases Year over Year
Agricultural Raw Materials 24% Industrial Inputs Index 25% Metals Price Index 26% Coffee 45% Barley 32% Oranges 35% Beef 23% Pork 68% Salmon 30% Sugar 24% Wool 20% Cotton 40% Palm Oil 26% Hides 25% Rubber 62% Iron Ore 103%
Yep, looking at key raw material prices compared to last year, the recession is over. These prices are getting loaded into the system now and will flow through to the consumer in higher prices to come at the supermarket and elsewhere.
But it's not just raw materials soaring; it's everything. One example is my health insurance bill that came with the usual 20 percent annual increase. With Obamacare starting to take effect, insurance companies are rushing to push in price increases to cover expanded care and no caps on total payouts. Airline fares are already up 14 percent from last year, and if you plan to book a flight over the holidays, the rates have been jacked up to total price gouging levels. Don't believe the Wall Street hype, either, about being consumer-friendly and adding efficiency when it comes to the announced mergers of United and Continental Airlines, Southwest and AirTran, and Hertz and Avis bidding for Dollar Thrifty. The real reason mergers are done is to cut workers, destroy competition, and stick it to the consumer with higher prices, while Wall Street reaps huge profits.
Expect the prices at supercenter retail stores to increase as well. Wal-Mart, as one example, grew so large and great by blowing up small stores on Main Street, along with our American factories, which were moved to China to take advantage of cheap labor. Wal-Mart and other superstores have effectively become storefronts for China, Inc. However, given labor unrest in China, major Chinese manufacturers have caved in and given their workers 20 percent wage hikes. The days of cheap Chinese labor are fading. Worst yet, for consumer prices, it actually looks like our government has made a conscious decision to throw the dollar under the bus and go for a 20 - 40 percent dollar devaluation against the Yuan to try and boost exports, limit imports, and create American jobs. Moreover, with higher wages and a higher currency, those 1.3 billion hungry Chinese will be better positioned to bid in the world for oil, wheat, and pork bellies. So, the likely trend for commodity demand will be up in a world where the Russian wheat crop failed, and the world's coffee and cotton crops were duds.
As our government officials continue to scare us with a phony deflation scare, the Federal Reserve is geared up for QE II, and it looks like we may be willing to get tough with China to force its currency up. Moreover, America is not the only country with a central bank that prints money to try and hold the exchange value of their currency down. England, Japan, Korea, Switzerland, and Brazil have all used a version of central bank money printing. Rising commodity prices, a rising Chinese currency, and a world money supply - growing at double digits in a world where output is hardly growing at all - are all the ingredients needed in a recipe for a very potent inflationary co$ktail.
If you're getting older like me and notice time speeding up, the next ten years will pass quickly. At the rate we're going - in terms of world money printing and federal deficits - I honestly expect the cost of buying the necessities of life, such as food and energy, will double over the next decade. A doubling of prices is the order of magnitude that is necessary to rebalance the world economy and make the bad debts in the credit system manageable. It seems to me that the biggest losers are going to be those who have to spend the greatest portion of their income on the necessities of life, including the 41 million people on food stamps, and the 60 million receiving Social Security. Because so many of us will suffer, take heed if you live in the suburbs; at least you can start a Victory garden.
In looking back, I don't know if I was smarter than I thought or just plain lucky when I bought gold at $350 and $450, and silver at $4.5, and $12.40, I just wish I had more fiat dollars so I could trade them for real tangible assets at today's current prices. I figure if I have tangible assets like gold in the future, no matter what the world central banks set the price level at, I'll be able to trade my gold for the necessities I need to live. If prices for goods stay the same, double, or triple I won't care because it's all the same to me: gold and silver will follow the government-created inflation wherever it goes!
Nice stats 57loaded. Every time I try to suggest we really do have inflation I get jumped by the deflation "posse." So I'm glad you made the first shot across the bow this time.
But after reading what you posted I certainly don't see a whole lot of deflation there....maybe deleveraging of overpriced assets and debt, but not the critical items that most of us need to survive and function of which commodities weigh greatly. And since we also need money or barterable material to survive, it's no surprise that barbarous PM's are following along. We could wind down all the debt and derivatives tomorrow and it wouldn't make commodities any less scarce or less in demand than they are today. Except now we have tens of TRILLIONS or so equivalent dollars which were keystroked/printed/promised into existence over the past 2-3 yrs. chasing after those commodities.
I guess the commodity increases cited haven't reached the public yet. Orange juice is still the same price it has been for over 3 years. And I just bought 3 porkchops on sale for $2.69 two weeks ago.... i have noticed milk inching up from $2.34 a gallon to $2.69 at BJs(cheapest place to buy milk).
The current war of words between China and the United States over currency, and Japan’s present requirement to sell its own currency to push down the yen’s value, are also indicators of a broadening monetary crisis. Here are Tiny Tim Geithner and Barack Obama, neither of whom have a native macro-economic brain cell that functions properly, issuing threats to China about unfairly propping up the value of its currency while apparently ignorant about Japan’s violation of the free trade mantra supporting free-floating currency exchange rates.
It's truly astonishing that the hypocrisy of such policy remains under-reported in the mainstream financially media – clear evidence of the Tokyo Rose type of role that top tier financial programming has been roped into.
China holds all the cards here. If it decides the United States needs to be taught a lesson, it will just sell of some of its vast holding of Treasuries and force the United States into hyperinflation. The final days of the U.S. hegemonic empire are at last coming to a close, and the world, including clear-minded Americans, should sigh in relief when that day finally comes. Then we can get to work, as a unified world, to build a more realistic and equitable global economy. Without an abrupt about-face to end the wrongheaded policies being followed by policymakers, there can be only one conclusion. The dollar is headed toward hyperinflation. The new record highs in gold and silver, an across-the-board rise in commodity prices and the renewed downtrend in the dollar's rate of exchange are the “writing on the wall”..
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Gold was one of the topics on The View yesterday when Suze Orman was a guest. It's now mainstream but don't fret. While Orman suggested that gold could go higher from here, she recommened only investing a teeny tiny amount of money in it and only in market traded ETF's. She said it was too risky to hold bullion yourself, pay storage fees, etc. Oh boy, talk about barbarous! Ok, so when does gold go Oprah?
Orman's final comment was to be careful....gold could go either way from $1313.
<< <i>The current war of words between China and the United States over currency, and Japan’s present requirement to sell its own currency to push down the yen’s value, are also indicators of a broadening monetary crisis. Here are Tiny Tim Geithner and Barack Obama, neither of whom have a native macro-economic brain cell that functions properly, issuing threats to China about unfairly propping up the value of its currency while apparently ignorant about Japan’s violation of the free trade mantra supporting free-floating currency exchange rates.
It's truly astonishing that the hypocrisy of such policy remains under-reported in the mainstream financially media – clear evidence of the Tokyo Rose type of role that top tier financial programming has been roped into.
China holds all the cards here. If it decides the United States needs to be taught a lesson, it will just sell of some of its vast holding of Treasuries and force the United States into hyperinflation. The final days of the U.S. hegemonic empire are at last coming to a close, and the world, including clear-minded Americans, should sigh in relief when that day finally comes. Then we can get to work, as a unified world, to build a more realistic and equitable global economy. Without an abrupt about-face to end the wrongheaded policies being followed by policymakers, there can be only one conclusion. The dollar is headed toward hyperinflation. The new record highs in gold and silver, an across-the-board rise in commodity prices and the renewed downtrend in the dollar's rate of exchange are the “writing on the wall”.. >>
I very much agree, GB. It's turned into a curse that the dollar is the international medium that everyone's self-interest has been to prop up. It's allowed us decades of profligacy that we never could have gotten away with otherwise.
A bus filled with politicians was driving through the countryside one day, on the campaign trail. The bus driver, caught up in the beautiful scenery, lost control and crashed into the ditch. A farmer living nearby heard the horrible crash and rushed out to discover the wreckage. Finding the politicians, he buried them.
The next day, the police came to the farm to question the man. "So you buried all the politicians?" asked the police officer. "Were they all dead?"
The farmer answered, "Some said they weren't, but you know how politicians lie."
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It chaps my hide to no end to see a deliberate demand destruction of what is exceptional in America with little opposition. The absolute stupidity that rules is genius. They have been at this a very, very long time and one day soon the sheeple will be pushed into a situation where they will beg the very ones that put them there for a life line.....and they will give up everything for it. In the end they will sell their Liberty for security.
Then we can get to work, as a unified world, to build a more realistic and equitable global economy.
I think the global economy is what got us into this mess. i.e Germany bailing out Greece... China holding 1 trillion in U.S Treasuries (ie the drug pusher( China) providing the addict (U.S) all the drugs it needs)..... These are stark realities that did not exist 2-3 decades ago and I think we were better off as a nation.
<< <i>It chaps my hide to no end to see a deliberate demand destruction of what is exceptional in America with little opposition. The absolute stupidity that rules is genius. They have been at this a very, very long time and one day soon the sheeple will be pushed into a situation where they will beg the very ones that put them there for a life line.....and they will give up everything for it. In the end they will sell their Liberty for security. >>
<< <i>Then we can get to work, as a unified world, to build a more realistic and equitable global economy.
I think the global economy is what got us into this mess. i.e Germany bailing out Greece... China holding 1 trillion in U.S Treasuries (ie the drug pusher( China) providing the addict (U.S) all the drugs it needs)..... These are stark realities that did not exist 2-3 decades ago and I think we were better off as a nation. >>
The stage was set in the 1860's. Does anyone think this could have happened if the Constitutional provision for "secession" would have not been bas-tar-dized by lincoln the empire builder?
The stage was set in the 1860's. Does anyone think this could have happened if the Constitutional provision for "secession" would have not been bas-tar-dized by lincoln the empire builder?
No way. >>
The Constitution could never have been approved if it were done legally. The Articles of Confederation specifically stated that a three fifths majority was needed to change it but political maneuvering got the Constitution passed with a mere majority. There would have needed to be a great deal of verbiage on states rights to get the Consti- tution passed legally.
Then we had an illegal civil war and more and more power flowing to the executive branch (providing the media approves).
The stage was set in the 1860's. Does anyone think this could have happened if the Constitutional provision for "secession" would have not been bas-tar-dized by lincoln the empire builder?
No way. >>
The Constitution could never have been approved if it were done legally. The Articles of Confederation specifically stated that a three fifths majority was needed to change it but political maneuvering got the Constitution passed with a mere majority. There would have needed to be a great deal of verbiage on states rights to get the Consti- tution passed legally.
Then we had an illegal civil war and more and more power flowing to the executive branch (providing the media approves). >>
honestly this is why i wish i had studied Constitutional history and law...good things for me to dig deeper into...thanks
<< <i>It chaps my hide to no end to see a deliberate demand destruction of what is exceptional in America with little opposition. The absolute stupidity that rules is genius. They have been at this a very, very long time and one day soon the sheeple will be pushed into a situation where they will beg the very ones that put them there for a life line.....and they will give up everything for it. In the end they will sell their Liberty for security. >>
Fraud is a big business today at $6,000 per foreclosure. They don't even care if you paid cash for your home and actually own it. They can still forge the documents needed to foreclose on you.
Fraud is a big business today at $6,000 per foreclosure. They don't even care if you paid cash for your home and actually own it. They can still forge the documents needed to foreclose on you.
roadrunner >>
The fact that if you have a mortgage, you could find yourself coming home from vacation only to find your home has been foreclosed on. In Florida it was just shown that foreigners accounted for a HUGE percentage of sales and in fact it in some ways many parts and socio-economic areas in Fla are akin to a virtual third world country ( certainly not what we would equate with 1st world so let's call it 2nd world and certainly Fla is way ahead of many states ), that is, if "foreign" money didn't come in ( foreign could mean you are from NJ but the actual article that circulated all over the state last week showed a majority percentage of realtors had business dealings with someone from Canada, the UK, Germany, Latin America , Asia ) who are coming and buying houses for cash. No mortgages.
I would think that that business has been dealt a major blow of confidence. Like "investing in Costa Rica I remember years ago that you couid buy a place then come back to the States with all the dreams of retiring in a more exotic location only to fly back to find squatters who now have possession of the property. Well it is now not only theoretically possible for you to lose not only possession but ownership of your home, whether you have a mortgage or not is a reality and has happened. That guy in Ft Lauderdale paid cash for his home and one day, whoosh! Unbelievable. The fact that two giant lenders have put a hault to further foreclosure final actions is really something.
What happens from here remains to be seen but I have to believe that's a real body shot that the real estate market need to be quick to find a defence to.
The reality with the foreclosures is that if it was unauthorized or illegal, your title insurance policy should take care of it. Word has it that title companies are now refusing to issue policies or are using riders on foreclosed homes.
Some people may get lucky and may get free houses out of this collosal screw-up.
Comments
I knew it would happen.
If our Founding Fathers were alive today, what would they think of America? Surely they would be very proud that the United States stretches from the Atlantic to the Pacific and has built some of the most amazing cities that the world has ever seen. They would probably be surprised that the country they founded went on to become the greatest economic machine in the history of the world, and they would be absolutely astounded by things like our interstate highway system and the Internet. However, there are quite a number of things that they would be horrified about as well. The fact that over 40 million Americans are dependent on the federal government for their daily food would be deeply disturbing to our founders. Also, the fact that the U.S. government has accumulated the greatest mountain of debt in human history would be incredibly distressing to George Washington, Thomas Jefferson and the rest of the founders. But perhaps most of all, our founders would be absolutely disgusted that the land where Americans could once be free to pursue life, liberty and the pursuit of happiness has become so tightly regulated and controlled that Americans dare not even squeak without the permission of the federal government.
Our Founding Fathers Never Would Have Believed
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
See if you can find a spot near a Buckys, they keep the places real clean and there's less riff-raff and they have a few dozen different kinds of beef jerky.
Box of 20
Gold will continue its rise since the US dollar could potentially be defaulted on completely, said U.S. Rep. Ron Paul, R-Tex., a keynote speaker at the Kitco Metals eConference Sunday.
During the question-and-answer period, the congressman was asked where gold was headed, “Well it depends how low you expect the dollar to go,” he said.
Gold's Rise Dependent On How Low US Dollar Will Go: Ron Paul
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Box of 20
I knew it would happen.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Gold Confiscation: Straws in the Wind
Gold Confiscation: Straws in the Wind
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
1. Because they can and have demonstrated the willingness to do similar things countless times in the past (see link above in Mr Early's post)
2. It would punish the $@#& gold bugs, who are undoubtedly the cause of our economic mess. If they weren't speculating, none of this would have happened.
3. He who has the most gold....and tolerable debt, wins (as JPMorgan once said, only gold is money)
4. It would get the punishing administration more votes from the sheeple because it would be a sign that they are doing something about the crisis (ie punishing gold bugs)
5. If not confiscation then at least massive taxation on gold (VAT, windfall profit taxes, etc.).
6. Deflect the blame from the govt back towards inanimate objects (gold) and their worshippers (gold bugs)
7. When the dust settles from all this, having gold will be the best capital available to jump start ailing economies, even if leveraged up 20-1, 100-1 or 1000-1.
8. Trading away fiat money for gold and other precious goods is always a wise move during time of currency crisis.
roadrunner
I knew it would happen.
<< <i>Waxman and Weiner need to be bounced out of Congress asap. >>
Would they impose such 'regulations' on the usmint.gov first?
<< <i>Waxman and Weiner need to be bounced out of Congress asap. >>
LOTS of them deserve the gallows including these two.
Goldline is an organization that NEEDS to be looked at.
But to launch this crusade is obviously political and frankly, as close as this is to call, the bigger lowlife isn't goldline.
I called goldline and after they quoted me I told the phone jockey that they all belong in jail.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Wax on.......wax off, Danielson.
These jokers are trying to go after gold regulations as the magic cure of all our ills....yet they won't even try to peek under the 800 lb. boulder that has the economy pinned down (ie $1.1 QUAD in otc derivatives). Congressmen W&W, what caused the problem, the 1 oz gold coin the J6P has in his pocket or that 800 lb. boulder that's sitting on top of him? Is removing that coin going to cure the problem?
Well, certainly removing that 1 oz gold coin from Joe's pocket and then delivering it to the US Treasury will contribute to the cause.
roadrunner
I don't know that anyone wants every back room employee in every coin establishment that we do business with to have access to our ssan AND drivers license address on a 1099 for gold sales EVERY TIME WE BUY OR SELL A COIN...this just does not seem to be a good idea.
What the heck are we gonna do with numismatic gold coin to keep ownership private and out of the public arena? Are we allowed to have private assets any more or are we just not supposed to buy or sell them.
there will ALWAYS be a market, call it whatever you want
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
which in our fast moving financial world probably means that hyperinflation would occur within a matter of hours rather than months as Weimar Germany experienced
during the 1920's: Nadeem Walayat .....good point...because it's all electronic now.
Katz on Keynes, bankers & economists, and inflation vs. deflation
Katz is still waiting for the first annual decline in CPI in decades. Being an economist, he doesn't think much of his profession. I can still remember back in my Freshman Economics 101 class back in 1972 using the Samuelson text and trying to make sense of the FED's money multiplier ratio. I was very uneasy with this concept being a math major as it seemed like creating 10X more money out of thin air. What would Einstein or Gauss have said about that. But we were assured that this was in fact how it worked and it was reality based. It's how the system worked, and worked well. Well, a few decades later and I knew that my initial feelings were proven correct. Too bad we aren't given money multipliers in our weekly paychecks.
Ironically, the NBER came out to tell us all today that the recession/depression ended 15 months ago. I'm sure glad we have govt economists around to tell us where we're at.
roadrunner
Peter Schiff "Of course we're not going to pay back the Chinese"
Peter Schiff
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Hyperinflation is the END GAME ! When populations PANIC and lose confidence in the currency and hence dump it for anything from consumer goods to hard assets,
which in our fast moving financial world probably means that hyperinflation would occur within a matter of hours rather than months as Weimar Germany experienced
during the 1920's: Nadeem Walayat .....good point...because it's all electronic now.
Katz on Keynes, bankers & economists, and inflation vs. deflation
Katz is still waiting for the first annual decline in CPI in decades. Being an economist, he doesn't think much of his profession. I can still remember back in my Freshman Economics 101 class back in 1972 using the Samuelson text and trying to make sense of the FED's money multiplier ratio. I was very uneasy with this concept being a math major as it seemed like creating 10X more money out of thin air. What would Einstein or Gauss have said about that. But we were assured that this was in fact how it worked and it was reality based. It's how the system worked, and worked well. Well, a few decades later and I knew that my initial feelings were proven correct. Too bad we aren't given money multipliers in our weekly paychecks.
Ironically, the NBER came out to tell us all today that the recession/depression ended 15 months ago. I'm sure glad we have govt economists around to tell us where we're at.
roadrunner >>
And what it all comes down to is that, if you want to be a good speculator (or a good person), then you have to see reality as it is. This is easier said than done. These five little words contain a crucially important moral virtue. To actually follow them requires a lot of work. You must draw your own conclusions in defiance of what the people around you believe (and are trying to shove down your throat). This is the virtue known as contrary opinion. You must put your emotions aside and believe what is true, not what you want to believe. Emotions are great things, but a strong emotion can cloud the mind. If you try to suppress the emotion, it will just get stronger and come out in ways of which you are not aware. What you must do is to tell your emotion to temporarily stand aside.
Most people don't seem to be able to do this. They can't step outside
of their time or place. They can't go against the flow.
They always want to do what everyone else is doing and that makes
them exceedingly dangerous because panics often are the result. Ig-
norance and the status quo are always the result.
A 10-15 min read on BP's links to the derivatives worlds and possible future shocks. A nice summary too on how non-banks play with derivatives.
An interesting way to view the fraud on the Crimex /Comex
roadrunner
I have the latest RS issue, but I haven't read this article as of yet. I enjoyed his writing on GS.
Taibbi certainly has a colorful style. He is an interesting, as well as entertaining read.
roadrunner
A podcast with Peter Schiff
George W. Bush famously blamed the economic crisis on Wall Street getting drunk. Sure, said Peter Schiff, but who supplied the liquor? It was Greenspan and the Fed, and Bernanke is still at the bar, handing out free booze. The result has been a continuing depression, with smart business people moving overseas. All is not lost, by any means. We just need sound money, saving and investment, and an end to government meddling and confiscation. Sounds like science fiction, but in a crisis, good things can happen as well as bad.
Peter Schiff in conversation with Lew Rockwell.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Camelot
<< <i>In addition to the free booze, do you think the FED will ever hand out good Cuban cigars ? >>
Cubans are against the law!
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
By: Richard Benson | Thu, Sep 30, 2010 Share Print Email The interesting part of growing older, that my wife and I have noticed, is the appearance that time speeds up. As each month that passes turns into years, as a 60+-year-old I'm feeling the passage of time quite differently than a child would; a year to me feels more like a month, whereas a month in a child's life feels like a lifetime. Needless to say, I'm still encouraged to continue my favorite pastime of tracking the fluctuations in the cost of living, and my fascination with prices and values has not waned one bit. Also, my wife's frugalness and aversion to throwing food away has made me very curious about commodity prices, so recently I did some research and discovered the facts weren't pretty. Below are some Commodity Price increases over the past year:
Commodity Price % Increases
Year over Year
Agricultural Raw Materials 24%
Industrial Inputs Index 25%
Metals Price Index 26%
Coffee 45%
Barley 32%
Oranges 35%
Beef 23%
Pork 68%
Salmon 30%
Sugar 24%
Wool 20%
Cotton 40%
Palm Oil 26%
Hides 25%
Rubber 62%
Iron Ore 103%
Yep, looking at key raw material prices compared to last year, the recession is over. These prices are getting loaded into the system now and will flow through to the consumer in higher prices to come at the supermarket and elsewhere.
But it's not just raw materials soaring; it's everything. One example is my health insurance bill that came with the usual 20 percent annual increase. With Obamacare starting to take effect, insurance companies are rushing to push in price increases to cover expanded care and no caps on total payouts. Airline fares are already up 14 percent from last year, and if you plan to book a flight over the holidays, the rates have been jacked up to total price gouging levels. Don't believe the Wall Street hype, either, about being consumer-friendly and adding efficiency when it comes to the announced mergers of United and Continental Airlines, Southwest and AirTran, and Hertz and Avis bidding for Dollar Thrifty. The real reason mergers are done is to cut workers, destroy competition, and stick it to the consumer with higher prices, while Wall Street reaps huge profits.
Expect the prices at supercenter retail stores to increase as well. Wal-Mart, as one example, grew so large and great by blowing up small stores on Main Street, along with our American factories, which were moved to China to take advantage of cheap labor. Wal-Mart and other superstores have effectively become storefronts for China, Inc. However, given labor unrest in China, major Chinese manufacturers have caved in and given their workers 20 percent wage hikes. The days of cheap Chinese labor are fading. Worst yet, for consumer prices, it actually looks like our government has made a conscious decision to throw the dollar under the bus and go for a 20 - 40 percent dollar devaluation against the Yuan to try and boost exports, limit imports, and create American jobs. Moreover, with higher wages and a higher currency, those 1.3 billion hungry Chinese will be better positioned to bid in the world for oil, wheat, and pork bellies. So, the likely trend for commodity demand will be up in a world where the Russian wheat crop failed, and the world's coffee and cotton crops were duds.
As our government officials continue to scare us with a phony deflation scare, the Federal Reserve is geared up for QE II, and it looks like we may be willing to get tough with China to force its currency up. Moreover, America is not the only country with a central bank that prints money to try and hold the exchange value of their currency down. England, Japan, Korea, Switzerland, and Brazil have all used a version of central bank money printing. Rising commodity prices, a rising Chinese currency, and a world money supply - growing at double digits in a world where output is hardly growing at all - are all the ingredients needed in a recipe for a very potent inflationary co$ktail.
If you're getting older like me and notice time speeding up, the next ten years will pass quickly. At the rate we're going - in terms of world money printing and federal deficits - I honestly expect the cost of buying the necessities of life, such as food and energy, will double over the next decade. A doubling of prices is the order of magnitude that is necessary to rebalance the world economy and make the bad debts in the credit system manageable. It seems to me that the biggest losers are going to be those who have to spend the greatest portion of their income on the necessities of life, including the 41 million people on food stamps, and the 60 million receiving Social Security. Because so many of us will suffer, take heed if you live in the suburbs; at least you can start a Victory garden.
In looking back, I don't know if I was smarter than I thought or just plain lucky when I bought gold at $350 and $450, and silver at $4.5, and $12.40, I just wish I had more fiat dollars so I could trade them for real tangible assets at today's current prices. I figure if I have tangible assets like gold in the future, no matter what the world central banks set the price level at, I'll be able to trade my gold for the necessities I need to live. If prices for goods stay the same, double, or triple I won't care because it's all the same to me: gold and silver will follow the government-created inflation wherever it goes!
But after reading what you posted I certainly don't see a whole lot of deflation there....maybe deleveraging of overpriced assets and debt, but not the critical items that most of us need to survive and function of which commodities weigh greatly. And since we also need money or barterable material to survive, it's no surprise that barbarous PM's are following along. We could wind down all the debt and derivatives tomorrow and it wouldn't make commodities any less scarce or less in demand than they are today. Except now we have tens of TRILLIONS or so equivalent dollars which were keystroked/printed/promised into existence over the past 2-3 yrs. chasing after those commodities.
roadrunner
Box of 20
It's truly astonishing that the hypocrisy of such policy remains under-reported in the mainstream financially media – clear evidence of the Tokyo Rose type of role that top tier financial programming has been roped into.
China holds all the cards here. If it decides the United States needs to be taught a lesson, it will just sell of some of its vast holding of Treasuries and force the United States into hyperinflation. The final days of the U.S. hegemonic empire are at last coming to a close, and the world, including clear-minded Americans, should sigh in relief when that day finally comes. Then we can get to work, as a unified world, to build a more realistic and equitable global economy. Without an abrupt about-face to end the wrongheaded policies being followed by policymakers, there can be only one conclusion. The dollar is headed toward hyperinflation. The new record highs in gold and silver, an across-the-board rise in commodity prices and the renewed downtrend in the dollar's rate of exchange are the “writing on the wall”..
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
<< <i> Then we can get to work, as a unified world,”.. >>
I Sent this along to my investment group, Thanks Terry
Gold was one of the topics on The View yesterday when Suze Orman was a guest. It's now mainstream but don't fret. While Orman suggested that gold could go higher from here, she recommened only investing a teeny tiny amount of money in it and only in market traded ETF's. She said it was too risky to hold bullion yourself, pay storage fees, etc. Oh boy, talk about barbarous! Ok, so when does gold go Oprah?
Orman's final comment was to be careful....gold could go either way from $1313.
roadrunner
<< <i>The current war of words between China and the United States over currency, and Japan’s present requirement to sell its own currency to push down the yen’s value, are also indicators of a broadening monetary crisis. Here are Tiny Tim Geithner and Barack Obama, neither of whom have a native macro-economic brain cell that functions properly, issuing threats to China about unfairly propping up the value of its currency while apparently ignorant about Japan’s violation of the free trade mantra supporting free-floating currency exchange rates.
It's truly astonishing that the hypocrisy of such policy remains under-reported in the mainstream financially media – clear evidence of the Tokyo Rose type of role that top tier financial programming has been roped into.
China holds all the cards here. If it decides the United States needs to be taught a lesson, it will just sell of some of its vast holding of Treasuries and force the United States into hyperinflation. The final days of the U.S. hegemonic empire are at last coming to a close, and the world, including clear-minded Americans, should sigh in relief when that day finally comes. Then we can get to work, as a unified world, to build a more realistic and equitable global economy. Without an abrupt about-face to end the wrongheaded policies being followed by policymakers, there can be only one conclusion. The dollar is headed toward hyperinflation. The new record highs in gold and silver, an across-the-board rise in commodity prices and the renewed downtrend in the dollar's rate of exchange are the “writing on the wall”.. >>
I very much agree, GB. It's turned into a curse that the dollar is the international medium that everyone's self-interest has been to prop up. It's allowed us decades of profligacy that we never could have gotten away with otherwise.
Here's a warning parable for coin collectors...
A farmer living nearby heard the horrible crash and rushed out to discover the wreckage. Finding the politicians, he buried them.
The next day, the police came to the farm to question the man. "So you buried all the politicians?" asked the police officer. "Were they all dead?"
The farmer answered, "Some said they weren't, but you know how politicians lie."
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
I think the global economy is what got us into this mess. i.e Germany bailing out Greece... China holding 1 trillion in U.S Treasuries (ie the drug pusher(
China) providing the addict (U.S) all the drugs it needs)..... These are stark realities that did not exist 2-3 decades ago and I think we were better off as a nation.
Box of 20
<< <i>It chaps my hide to no end to see a deliberate demand destruction of what is exceptional in America with little opposition. The absolute stupidity that rules is genius. They have been at this a very, very long time and one day soon the sheeple will be pushed into a situation where they will beg the very ones that put them there for a life line.....and they will give up everything for it. In the end they will sell their Liberty for security. >>
It's already happened.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Then we can get to work, as a unified world, to build a more realistic and equitable global economy.
I think the global economy is what got us into this mess. i.e Germany bailing out Greece... China holding 1 trillion in U.S Treasuries (ie the drug pusher(
China) providing the addict (U.S) all the drugs it needs)..... These are stark realities that did not exist 2-3 decades ago and I think we were better off as a nation. >>
The stage was set in the 1860's. Does anyone think this could have happened if the Constitutional provision for "secession" would have not been bas-tar-dized by lincoln the empire builder?
No way.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>
The stage was set in the 1860's. Does anyone think this could have happened if the Constitutional provision for "secession" would have not been bas-tar-dized by lincoln the empire builder?
No way. >>
The Constitution could never have been approved if it were done legally. The Articles
of Confederation specifically stated that a three fifths majority was needed to change
it but political maneuvering got the Constitution passed with a mere majority. There
would have needed to be a great deal of verbiage on states rights to get the Consti-
tution passed legally.
Then we had an illegal civil war and more and more power flowing to the executive
branch (providing the media approves).
<< <i>
<< <i>
The stage was set in the 1860's. Does anyone think this could have happened if the Constitutional provision for "secession" would have not been bas-tar-dized by lincoln the empire builder?
No way. >>
The Constitution could never have been approved if it were done legally. The Articles
of Confederation specifically stated that a three fifths majority was needed to change
it but political maneuvering got the Constitution passed with a mere majority. There
would have needed to be a great deal of verbiage on states rights to get the Consti-
tution passed legally.
Then we had an illegal civil war and more and more power flowing to the executive
branch (providing the media approves). >>
honestly this is why i wish i had studied Constitutional history and law...good things for me to dig deeper into...thanks
<< <i>
<< <i>It chaps my hide to no end to see a deliberate demand destruction of what is exceptional in America with little opposition. The absolute stupidity that rules is genius. They have been at this a very, very long time and one day soon the sheeple will be pushed into a situation where they will beg the very ones that put them there for a life line.....and they will give up everything for it. In the end they will sell their Liberty for security. >>
It's already happened. >>
I know.
Fraud is a big business today at $6,000 per foreclosure. They don't even care if you paid cash for your home and actually own it. They can still forge the documents needed to foreclose on you.
roadrunner
<< <i>Congressman Alan Grayson on current state of rampant factory foreclosure fraud
Fraud is a big business today at $6,000 per foreclosure. They don't even care if you paid cash for your home and actually own it. They can still forge the documents needed to foreclose on you.
roadrunner >>
The fact that if you have a mortgage, you could find yourself coming home from vacation only to find your home has been foreclosed on. In Florida it was just shown that foreigners accounted for a HUGE percentage of sales and in fact it in some ways many parts and socio-economic areas in Fla are akin to a virtual third world country ( certainly not what we would equate with 1st world so let's call it 2nd world and certainly Fla is way ahead of many states ), that is, if "foreign" money didn't come in ( foreign could mean you are from NJ but the actual article that circulated all over the state last week showed a majority percentage of realtors had business dealings with someone from Canada, the UK, Germany, Latin America , Asia ) who are coming and buying houses for cash. No mortgages.
I would think that that business has been dealt a major blow of confidence. Like "investing in Costa Rica I remember years ago that you couid buy a place then come back to the States with all the dreams of retiring in a more exotic location only to fly back to find squatters who now have possession of the property. Well it is now not only theoretically possible for you to lose not only possession but ownership of your home, whether you have a mortgage or not is a reality and has happened. That guy in Ft Lauderdale paid cash for his home and one day, whoosh! Unbelievable. The fact that two giant lenders have put a hault to further foreclosure final actions is really something.
What happens from here remains to be seen but I have to believe that's a real body shot that the real estate market need to be quick to find a defence to.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Some people may get lucky and may get free houses out of this collosal screw-up.