Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
.one piece of scuttlebutt from bix weir yesterday ....tim geitner( never could spell his last name correctly )is convening a surprise emergency breakfast meeting with all the former heads of the treasury and bankters who have been responsible for the current U.S financial troubles....love to be e fly on the wall there....Monday should be very interesting as any results of this " the boys get together " meeting will be announced .....if they try and artificially inflate the U.S market with more QE fiat dollars it will be the same game as usual....if they decide to let the dollar find it's true value and the real forces of the free market happen then I think you might see a correction of much more than 10 percent on the negative side....neither prospect is comforting to me or I suspect the millions of other investors out there....hedges agains hyperinflation ( gold silver oil energy and food stuffs) are are the place to be....good luck to all!
Many successful BST transactions ajia (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes, mariner67, and Mikes coins
Text....tim geitner( never could spell his last name correctly )is convening a surprise emergency breakfast meeting with all the former heads of the treasury and bankters who have been responsible for the current U.S financial troubles.
Very interesting, because I just heard that Hillary Clinton is convening a gathering of all US ambassadors from every station around the world. Non-politically speaking, things appear to be in need of a massive coordination effort. Such a meeting of ambassadors has never been called. I wonder what's next?
Q: Are You Printing Money? Bernanke: Not Literally
So three years and counting since the financial meltdown and no one has been charged with anything except Goldman Sachs with a slap on the wrist with a $500 million fine. Financial Treason has been perpetrated on the people of the United States causing or will likely cause the collapse of the U.S. as we know it and no one has been hung yet. I want to see some heads rolling. At least give me that satisfication if nothing else. Perhaps offer up one of the big banks as a sacrificial lamb.
Here's an interesting link to MIT's 5 million item price index. And they compare it to the CPI as well. 12 different countries available. Updated daily.
So much is made about how much we owe Japan and China. But our top 2 creditors are rarely mentioned: holders of savings bonds ($1.46 TRILL) and the FED ($5.35 TRILL).
So much is made about how much we owe Japan and China. But our top 2 creditors are rarely mentioned: holders of savings bonds ($1.46 TRILL) and the FED ($5.35 TRILL).
>>
If we say we're going to stiff the FED they'll claim no one will never again be able to find anyone to ruin our currency and rape the nation.
Wouldn't that be nice.
Frankly I don't understand how they can steal virtually all the interest income from deposits and still we owe them more money besides. How is it possible they've taken everything and we owe them more?
So, we call China and Japan into the back room and say something like: "We will offer a gold for treasuries swap with you." Then inform all the other holders that they can pound sand because there is no money to pay for the paper so it is deemed worthless, sue us, drop our bond rating, call us names but the game is over and you struck out.
It is amazing to have witnessed this incredible scheme playing out. Unemployment is acknowledged at 10+ % with the same poor still entrenched and many more joining the ranks of the hopelessly in debt and houseless on a daily basis yet the program traded NYSE/NASDAQ are climbing at headlines grabbing rates. The two are not necessarily related at first glance but prosperity in corporate America should lift all boats it would seem.
Not many boats being are lifted but I did notice that the cover stories of the last couple of years of the gigantic, multibillion dollar bonuses paid to trading company executives have not been in the headlines at all this yearend yet the DOW has been on a tear...hummmmmm; maybe it's not PC to do news stories about how much money you made dealing in paper with money you got from the gov, maybe it upsets the mullets too much when they read those stories yet they can't pay rent and their kid is at the Sam's club checking instead of entering their junior year at the state university. Just wait till j6p gets the bill for all this happiness. The wealth may be getting spread around but none of it is going to the middle class taxpayers or the poor and just wait till the budget cuts get laid on the table. I predict a lack of joy in Mudville. No joy in Mudville
<< Frankly I don't understand how they can steal virtually all the interest income from deposits and still we owe them more money besides. How is it possible they've taken everything and we owe them more? >>
Most of the interest collected by the Fed is rebated to the U.S. Treasury.
Thanks for the link mh, I enjoyed that classic bit of Americana. Some things are timeless.
Frankly I don't understand how they can steal virtually all the interest income from deposits and still we owe them more money besides. How is it possible they've taken everything and we owe them more?
I tried responding to this yesterday, cladking - but I got too pissed to write anything acceptable. It's really a bizzarre world when the essence of your labors and all of your life's energies can be manipulated by some banker's control over such a nebulous concept as "money".
The bankers got a pass for screwing up the entire economy. Not only a pass, but stupendous bonuses. And the ones like Jamie Dimon still act like they are owed something for all their financial prowess.
Hmmmm.
Most people on this forum have gravitated here because they sensed that something was up. We pretty much know that not only is the system broken, it's rigged, i.e., corrupt at a minimum. I suspect that it's worse than we'll ever know.
But this nebulous concept of money - the ability of bankers to create it at will, to use it to influence how the masses behave and to bear no responsibility for how things turn out - this concept is part & parcel of the social contract that we all adhere to in order to navigate life. And when one party to a contract acts in bad faith (i.e. the government and central bankers), the underlying contract is rendered void. That's the damage that is being done right now to our whole country and culture by the government and the central bankers - they are busy destroying America's internal social contracts for their own gain.
If you "follow the money" long enough, you realize that fiat currency is too corrupt and as a result, you arrive at the end game of gold & silver as honest money. Precious metals are no guarantee that you will keep what you've earned, but they still represent the most realistic alternative to a blind trust in government bureaucrats, politicians & central bankers. It's that basic.
To answer your question, "how can they steal virtually all the interest income from deposits and still we owe them more money besides. How is it possible they've taken everything and we owe them more?"
The answer is that the bankers are the ones who currently own the concept of "money". They own the concept. They can make the rules as long as people think there is no alternative. The alternative is honest money, and that means something tangible - gold and silver.
There is no other way to keep the bankers from their perpetual cycle of theft. Ron Paul has never been more correct. Stop letting the bankers own the whole concept of money.
Q: Are You Printing Money? Bernanke: Not Literally
Seems like the Chinese have learned a thing or two from the FED and BLS. The FED dumped M3 reporting in March 2006 when it was becoming clear it was about to rise dramatically (in fact it ended up doubling by the end of 2007). The BLS has tweaked the CPI numerous times since 1983. The Chinese figure if you can't beat them, then join 'em.
<< <i>Seems like the Chinese have learned a thing or two from the FED and BLS. The FED dumped M3 reporting in March 2006 when it was becoming clear it was about to rise dramatically (in fact it ended up doubling by the end of 2007). The BLS has tweaked the CPI numerous times since 1983. The Chinese figure if you can't beat them, then join 'em.
I got so mad I couldn't even finish reading the article.
The hell of it is these crooks are still operating their swindles. They're still playing with the markets and trading derivatives. They're still paying no interest on money and raising rates to borrowers. Rather than decreasing the spread they've increased the profit margin another 15% or so.
In two years there will be another election and we'll still need to do what we tried to do this time. We have to have campaign finance reform if we're ever to get Congress out of bed with wall street. Wash- ington smells like a french brothel.
<< <i>Seems like the Chinese have learned a thing or two from the FED and BLS. The FED dumped M3 reporting in March 2006 when it was becoming clear it was about to rise dramatically (in fact it ended up doubling by the end of 2007). The BLS has tweaked the CPI numerous times since 1983. The Chinese figure if you can't beat them, then join 'em.
I got so mad I couldn't even finish reading the article.
The hell of it is these crooks are still operating their swindles. They're still playing with the markets and trading derivatives. They're still paying no interest on money and raising rates to borrowers. Rather than decreasing the spread they've increased the profit margin another 15% or so.
In two years there will be another election and we'll still need to do what we tried to do this time. We have to have campaign finance reform if we're ever to get Congress out of bed with wall street. Wash- ington smells like a french brothel. >>
Only way to fix it will be to follow Egypt's lead.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
Actually, this is all part of the plan. The overall plan is for $200+ oil, at which point the US will start developing and opening up its vast reserves.
Blatant corruption of the SEC and the Justice Deptartment right in your face. They are laughing at all of us. They think they are untouchable. When they bring down the U.S. at least they will have no one to save them this time from socializing their losses and privatizing their profits. We have what amounts to financial terrorism at work here.
Gold and Fiat, regardless of the nationality, are absolute enemies. Philosophers stone-mutation of base metals into gold Hummm...since the 1200's? Actually, there was value as gold coins in exchange for goods and services in 560 b.c. when the first gold coins were issued. Gold coin in existence well before fiat Fiat is based on faith in the issuer, typically a government, whereas gold is exactly what it is; there is no intrisic value, there is no other value than as money or in exchange for goods and services sans a little electrical component work here and there. Yet, people beg it, save it, pass it down from generation to generation, hoard a little and yet it still survives, century after century.
Folk save it thinking it might be good for something in case of some event in the geopolitical arena. Folk think a 1 oz gold coin could buy a suit in the early days of US coinage but I wouldn't know, I've never worn a $1400 suit. But, the only value of gold is what it can buy for the owner...that is until there was fiat. Now you can't buy what you need with gold coin, you have to change it into fiat. You may own gold coin but the banksters own fiat and you can be pretty damn sure that they aren't going to let gold coin get between them and their fiat. Why would a bankster allow something to be valued as what it is worth when you can have 1/100 fractional banking? If you thought there would ever be another Gold Certificate in the US A beautiful thing then you would likely be wrong, as long as there is still a bankster with a banking license. If you thought there would be an international currency that might trickle down to the j6p's of the world to use in exchange for goods and services then you are likely wrong again. The only type of gold you are going to get is going to be bullion in what ever form, or rare coin and you can't buy a damn thing with it. The govts. have a strangle hold on the exchange of money/fiat/PM/anything for goods and they sit right in the middle. To let PM float freely and compete with fiat is folly for any govt. or bankster, at least if they want to survive. It didn't used to be that way but it is now.
The value of gold is in what it can buy. It would stand to reason that you should use your gold coin to get fiat to purchase what you need or likely will need for what ever event. That exchange should likely happen while gold can still be exchanged for fiat. Not that no one shouldn't hoard any gold but gold's only value is in what it can purchase and since you can't use gold to actually purchase anything then it has to be exchanged for fiat to get the goods. No matter, once you have the goods, gold has fulfilled its purpose. Just a thought.
<< <i>Gold and Fiat, regardless of the nationality, are absolute enemies. Philosophers stone-mutation of base metals into gold Hummm...since the 1200's? Actually, there was value as gold coins in exchange for goods and services in 560 b.c. when the first gold coins were issued. Gold coin in existence well before fiat Fiat is based on faith in the issuer, typically a government, whereas gold is exactly what it is; there is no intrisic value, there is no other value than as money or in exchange for goods and services sans a little electrical component work here and there. Yet, people beg it, save it, pass it down from generation to generation, hoard a little and yet it still survives, century after century.
Folk save it thinking it might be good for something in case of some event in the geopolitical arena. Folk think a 1 oz gold coin could buy a suit in the early days of US coinage but I wouldn't know, I've never worn a $1400 suit. But, the only value of gold is what it can buy for the owner...that is until there was fiat. Now you can't buy what you need with gold coin, you have to change it into fiat. You may own gold coin but the banksters own fiat and you can be pretty damn sure that they aren't going to let gold coin get between them and their fiat. Why would a bankster allow something to be valued as what it is worth when you can have 1/100 fractional banking? If you thought there would ever be another Gold Certificate in the US A beautiful thing then you would likely be wrong, as long as there is still a bankster with a banking license. If you thought there would be an international currency that might trickle down to the j6p's of the world to use in exchange for goods and services then you are likely wrong again. The only type of gold you are going to get is going to be bullion in what ever form, or rare coin and you can't buy a damn thing with it. The govts. have a strangle hold on the exchange of money/fiat/PM/anything for goods and they sit right in the middle. To let PM float freely and compete with fiat is folly for any govt. or bankster, at least if they want to survive. It didn't used to be that way but it is now.
The value of gold is in what it can buy. It would stand to reason that you should use your gold coin to get fiat to purchase what you need or likely will need for what ever event. That exchange should likely happen while gold can still be exchanged for fiat. Not that no one shouldn't hoard any gold but gold's only value is in what it can purchase and since you can't use gold to actually purchase anything then it has to be exchanged for fiat to get the goods. No matter, once you have the goods, gold has fulfilled its purpose. Just a thought.
American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.My Numismatics with Kenny Twitter Page
CNBC didn’t run any commercials during Bernanke’s testimony this morning, until Ron Paul began to speak. They came back live after his questioning, choosing to resume with Maxine Waters. State-controlled media indeed.
Who is it that thinks the Chinese are a threat to us? Or the N Koreans? Or the Vietnamese, Laotians, Cambodians, Panamanians, Iraquis, Iranians, Israelites, Japanese, Colombians, Libyians, etc etc etc etc? If you're looking for the real threat, look at the masses who have allowed this to happen.
China accelerating gold purchases to help offset inflation. 200 tons in just the first 2 months of 2011! Where are those ECB/IMF gold sales when you need them? High gold prices don't seem to be hindering jewelry sales either. Is the 14% increase in min. wage to help low wage earners buy PM's?
(Bloomberg) -- Gold Buying in China Jumps as Inflation Flares, Boosting Demand, UBS Says Gold purchases in China, the world’s largest producer, climbed to 200 metric tons in the first two months of 2011 as faster inflation boosted consumer demand, according to UBS AG, which said the price may gain to $1,500.
“China is the big buyer,” Peter Hickson, global commodities strategist at Switzerland’s largest bank, said by phone yesterday, without giving a comparable figure for 2010. The estimate for the two-month period compares with full-year consumer demand from China of 579.5 tons for last year, according to the World Gold Council, a producer-funded group. Bullion, which rallied 30 percent last year, surged to a record yesterday as uprisings in the Middle East, quickening inflation and currency debasement boosted global demand. China’s consumer prices rose 4.9 percent in January from a year earlier, exceeding policy makers’ 4 percent ceiling for a fourth month. “Chinese interest is huge,” said Peter Tse, Hong Kong- based head of precious metals at Bank of Nova Scotia. “Demand for physical gold and imports has increased substantially” due to the Lunar New Year holiday, Tse said today, referring to the week-long break that began Feb. 2.
Immediate-delivery gold was at $1,429.05 an ounce at 5:08 p.m. in Singapore compared with yesterday’s peak of $1,434.93. Yuan-denominated bullion rose 0.5 percent to 303.58 yuan ($46.19) a gram in Shanghai, approaching the record 314 yuan, set Nov. 9.
‘Gold Is Attractive’ “Gold is attractive,” Hickson said. “The more the market becomes concerned about inflation or concerns about unrest in Africa, more and more people will look to gold.” The price may rise to $1,500 an ounce in the next six months, said Hong Kong- based Hickson, who’s worked for UBS since 1996.
Blackstone Group LP’s Byron Wien said in January that gold may rise to more than $1,600 this year “as investors across the world place more of their assets in something they consider ‘real’.” The price may reach $1,600 this year, Wayne Atwell, a managing director at Casimir Capital LP said the same month. Protests partly linked to record food prices have erupted across North Africa and the Middle East this year, toppling leaders in Tunisia and Egypt and boosting oil prices. Libyan rebels braced for renewed clashes today with forces loyal to leader Muammar Qaddafi. Iranian protesters have clashed with security forces in Tehran, Al Arabiya reported. Gold investment in China, the largest buyer of the precious metal after India, may gain 40 percent to 50 percent this year amid a lack of alternatives, Wang Lixin, China representative for the World Gold Council, said last month. He called that forecast a “conservative estimate.”
Bars and Coins China’s investment demand in 2010 jumped 70 percent to 179.9 tons, surpassing Germany and the U.S., as buyers sought out bars and coins, the London-based industry group said. Consumption by the jewelry sector rose to a record 399.7 tons, it said. China imported more than 300 tons last year, People’s Bank of China Vice Governor Yi Gang said on Feb. 26 in Beijing.
China may be the “next big buyer” of gold, driven by institutional and retail demand, Credit Suisse Group AG analyst Tom Kendall said in Cape Town on Feb. 7. “If you’re sitting there in China with money in a deposit account, you’re losing between 1-2 percent a year through inflation,” Kendall said. The boom in gold demand in China is driven by concern about inflation pressure and the poor performance of alternative investments, the producer-funded council has said. Premier Wen Jiabao pledged on Feb. 27 to boost food supplies to hold down costs, and to tackle surging property prices.
Spooked by Inflation Jewelers at shopping malls across Beijing are witnessing a gold rush as residents spooked by inflation look to protect their money, the China Daily reported on Feb. 28 Statistics from Beijing Caibai, the city’s largest jewelry store, show sales of gold and other jewelry have totaled about 4 billion yuan so far this year, a 70 percent increase from a year ago, the report said.
China displaced South Africa as the world’s biggest gold producer in 2007. Imports through last October rose almost fivefold to 209 tons from the total shipped in the previous year, according to the Shanghai Gold Exchange. Mine output reached a record 340 tons last year, the China Gold Association has said. The Industrial and Commercial Bank of China Ltd., the world’s biggest lender by market value, started physical-gold linked savings accounts in December with the World Gold Council. Account openings have surpassed 1 million, with more than 12 tons of gold stored on behalf of investors, it has said.
not commenting on the content, just what is coming out
also good feature article in ths Wednesday's WSJ...about currency. what i like about WSJ is most of the time they will give an opposite viewpoint of the main article, but then economists can agree on many or few things but not at the same time.
A short article covering the basics, such as the 40% reserve ratio (gold vs. notes) in effect at the time. The author suggests that numismatic coins are a scheme who's value in a shtf scenario would only be their bullion content. Therefore the Child's 1804 silver dollar would be worth about $27.50 and a 1933 $20 Saint about $1385. Something tells me that TDN and others would step up to the plate somewhere between $27.50 and $8 MILL.
With similar logic the Mona Lisa would be valued at the going price of canvas and the statue of David nothing more than its marble content.
"Silver is cheaper than gold, the average American can buy and ounce of silver without much thought. If they wanted to buy even one ounce of gold they would have to talk to their wife about it."
i guess it depends on who wears the denim in the family!
also i do think that in a shtf scenario all numismatic coins would decrease in value, some more than others but certainly no where near melt. a monster toned SLQ comes to mind as a numismatic coin that would take a big hit (from reading recent prices attained for such). ASE proofs come to mind as one's that could "trade" for close to their melt. i could be wrong but even the HR St Gaudin's with a FS label would drop quite a bit. (IMO)
somewhat economic, but there has been some concern and discussion about lack of sunspots and the effect on the earth's atmosphere and possible addition or subtraction to global "warming" or what ever you want to call it. this was sent from a buddy of mine with a masters in meterology...i'll never understand what meteors have to do with weather.
somewhat economic, but there has been some concern and discussion about lack of sunspots and the effect on the earth's atmosphere and possible addition or subtraction to global "warming" or what ever you want to call it. this was sent from a buddy of mine with a masters in meterology...i'll never understand what meteors have to do with weather. >>
I know you were joking about meteors but I was a meteorology major back in the 70s until calculus and physics did me in. For those who have wondered why it is called meteorology when it has nothing to do with meteors, it comes form two Greek words when translated it means study of what is above or study of the sky.
Sad to say, we really have very little understanding how much impact the sun has on the earth. Man cannot hold a candle to what the sun can do to our planet when it comes to global warming or cooling as well as what it can do to modern telecommunications.
American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.My Numismatics with Kenny Twitter Page
I saw this on jsmineset and couldn't stop laughing. After us the deluge... LOL
.....GOD
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
I don't see what the problem is. The Chicago Fed governor Charles Evans and Steve Leesman were just chatting on CNBC about how tame inflation really is. If you're a big banker, it's all good.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>I don't see what the problem is. The Chicago Fed governor Charles Evans and Steve Leesman were just chatting on CNBC about how tame inflation really is. If you're a big banker, it's all good. >>
Until last week, I would have figured Steve's name was spelled as above as well. But sure enough it is "Liesman." Perfect name for an economics reporter. You can't make this stuff up.
Well, in their defence, they deliver their presentations with the sincerity and commitment of well schooled journalists. Nice clothes, well groomed appearance and they look right into the camera when explaining complicated issues to their intellectually impoverished fact deprived audience members. It's unfortunate that you can't use the information for actual decision making.
Comments
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Wow!!! This thread just hit 2000 posts.
2001
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Inflation-Death of the Dollar
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
Very interesting, because I just heard that Hillary Clinton is convening a gathering of all US ambassadors from every station around the world. Non-politically speaking, things appear to be in need of a massive coordination effort. Such a meeting of ambassadors has never been called. I wonder what's next?
I knew it would happen.
Box of 20
Here's an interesting link to MIT's 5 million item price index. And they compare it to the CPI as well. 12 different countries available. Updated daily.
Dr. Fekete chimes in on debt and Chinese/Japanese trade imbalances with the US....1-way ticket to the poor house...for them!
roadrunner
also RR good read on Dr. Fekete
also RR good read on Dr. Fekete
Yep, I'm beginning to think that Antal Fekete is a logical successor to Harry Browne, Jim Sinclair and Richard Russell.
I knew it would happen.
Knowledge is the enemy of fear
<< <i>World Agricultural Supply and Demand Estimates >>
seems "okay" so i guess the only other thing to consider is fiat erosion?
So much is made about how much we owe Japan and China. But our top 2 creditors are rarely mentioned: holders of savings bonds ($1.46 TRILL) and the FED ($5.35 TRILL).
roadrunner
the economist cover story 2-12-18-2011
<< <i>The biggest US creditors
So much is made about how much we owe Japan and China. But our top 2 creditors are rarely mentioned: holders of savings bonds ($1.46 TRILL) and the FED ($5.35 TRILL).
>>
If we say we're going to stiff the FED they'll claim no one will never again be able to find anyone to ruin
our currency and rape the nation.
Wouldn't that be nice.
Frankly I don't understand how they can steal virtually all the interest income from deposits and still we
owe them more money besides. How is it possible they've taken everything and we owe them more?
It is amazing to have witnessed this incredible scheme playing out. Unemployment is acknowledged at 10+ % with the same poor still entrenched and many more joining the ranks of the hopelessly in debt and houseless on a daily basis yet the program traded NYSE/NASDAQ are climbing at headlines grabbing rates. The two are not necessarily related at first glance but prosperity in corporate America should lift all boats it would seem.
Not many boats being are lifted but I did notice that the cover stories of the last couple of years of the gigantic, multibillion dollar bonuses paid to trading company executives have not been in the headlines at all this yearend yet the DOW has been on a tear...hummmmmm; maybe it's not PC to do news stories about how much money you made dealing in paper with money you got from the gov, maybe it upsets the mullets too much when they read those stories yet they can't pay rent and their kid is at the Sam's club checking instead of entering their junior year at the state university. Just wait till j6p gets the bill for all this happiness. The wealth may be getting spread around but none of it is going to the middle class taxpayers or the poor and just wait till the budget cuts get laid on the table. I predict a lack of joy in Mudville. No joy in Mudville
Got CASH?
Most of the interest collected by the Fed is rebated to the U.S. Treasury.
Link
My Adolph A. Weinman signature
Frankly I don't understand how they can steal virtually all the interest income from deposits and still we
owe them more money besides. How is it possible they've taken everything and we owe them more?
I tried responding to this yesterday, cladking - but I got too pissed to write anything acceptable. It's really a bizzarre world when the essence of your labors and all of your life's energies can be manipulated by some banker's control over such a nebulous concept as "money".
The bankers got a pass for screwing up the entire economy. Not only a pass, but stupendous bonuses. And the ones like Jamie Dimon still act like they are owed something for all their financial prowess.
Hmmmm.
Most people on this forum have gravitated here because they sensed that something was up. We pretty much know that not only is the system broken, it's rigged, i.e., corrupt at a minimum. I suspect that it's worse than we'll ever know.
But this nebulous concept of money - the ability of bankers to create it at will, to use it to influence how the masses behave and to bear no responsibility for how things turn out - this concept is part & parcel of the social contract that we all adhere to in order to navigate life. And when one party to a contract acts in bad faith (i.e. the government and central bankers), the underlying contract is rendered void. That's the damage that is being done right now to our whole country and culture by the government and the central bankers - they are busy destroying America's internal social contracts for their own gain.
If you "follow the money" long enough, you realize that fiat currency is too corrupt and as a result, you arrive at the end game of gold & silver as honest money. Precious metals are no guarantee that you will keep what you've earned, but they still represent the most realistic alternative to a blind trust in government bureaucrats, politicians & central bankers. It's that basic.
To answer your question, "how can they steal virtually all the interest income from deposits and still we
owe them more money besides. How is it possible they've taken everything and we owe them more?"
The answer is that the bankers are the ones who currently own the concept of "money". They own the concept. They can make the rules as long as people think there is no alternative. The alternative is honest money, and that means something tangible - gold and silver.
There is no other way to keep the bankers from their perpetual cycle of theft. Ron Paul has never been more correct. Stop letting the bankers own the whole concept of money.
I knew it would happen.
Knowledge is the enemy of fear
Why isn't Wall Street in Jail? - by Matt Taibbi
roadrunner
<< <i>Seems like the Chinese have learned a thing or two from the FED and BLS. The FED dumped M3 reporting in March 2006 when it was becoming clear it was about to rise dramatically (in fact it ended up doubling by the end of 2007). The BLS has tweaked the CPI numerous times since 1983. The Chinese figure if you can't beat them, then join 'em.
Why isn't Wall Street in Jail? - by Matt Taibbi
>>
I got so mad I couldn't even finish reading the article.
The hell of it is these crooks are still operating their swindles. They're still playing with the markets and
trading derivatives. They're still paying no interest on money and raising rates to borrowers. Rather than
decreasing the spread they've increased the profit margin another 15% or so.
In two years there will be another election and we'll still need to do what we tried to do this time. We
have to have campaign finance reform if we're ever to get Congress out of bed with wall street. Wash-
ington smells like a french brothel.
<< <i>
<< <i>Seems like the Chinese have learned a thing or two from the FED and BLS. The FED dumped M3 reporting in March 2006 when it was becoming clear it was about to rise dramatically (in fact it ended up doubling by the end of 2007). The BLS has tweaked the CPI numerous times since 1983. The Chinese figure if you can't beat them, then join 'em.
Why isn't Wall Street in Jail? - by Matt Taibbi
>>
I got so mad I couldn't even finish reading the article.
The hell of it is these crooks are still operating their swindles. They're still playing with the markets and
trading derivatives. They're still paying no interest on money and raising rates to borrowers. Rather than
decreasing the spread they've increased the profit margin another 15% or so.
In two years there will be another election and we'll still need to do what we tried to do this time. We
have to have campaign finance reform if we're ever to get Congress out of bed with wall street. Wash-
ington smells like a french brothel. >>
Only way to fix it will be to follow Egypt's lead.
A Federal Reserve overview in a 5 part video series (35 min total) from G. Edward Griffin, the author of the Creature From Jeckyll Island.
roadrunner
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
<< <i>but now Egypt has gone down, Libya is collapsing and if Saudi Arabia folds you're instantly ****ED and so are the rest of us....Congratulations, Ben Bernanke. >>
Actually, this is all part of the plan. The overall plan is for $200+ oil, at which point the US will start developing and opening up its vast reserves.
Blatant corruption of the SEC and the Justice Deptartment right in your face. They are laughing at all of us. They think they are untouchable. When they bring down the U.S. at least they will have no one to save them this time from socializing their losses and privatizing their profits. We have what amounts to financial terrorism at work here.
Box of 20
That's what the ranchita in Costa Rica is all about...it's all good.
Folk save it thinking it might be good for something in case of some event in the geopolitical arena. Folk think a 1 oz gold coin could buy a suit in the early days of US coinage but I wouldn't know, I've never worn a $1400 suit. But, the only value of gold is what it can buy for the owner...that is until there was fiat. Now you can't buy what you need with gold coin, you have to change it into fiat. You may own gold coin but the banksters own fiat and you can be pretty damn sure that they aren't going to let gold coin get between them and their fiat. Why would a bankster allow something to be valued as what it is worth when you can have 1/100 fractional banking? If you thought there would ever be another Gold Certificate in the US A beautiful thing then you would likely be wrong, as long as there is still a bankster with a banking license. If you thought there would be an international currency that might trickle down to the j6p's of the world to use in exchange for goods and services then you are likely wrong again. The only type of gold you are going to get is going to be bullion in what ever form, or rare coin and you can't buy a damn thing with it. The govts. have a strangle hold on the exchange of money/fiat/PM/anything for goods and they sit right in the middle. To let PM float freely and compete with fiat is folly for any govt. or bankster, at least if they want to survive. It didn't used to be that way but it is now.
The value of gold is in what it can buy. It would stand to reason that you should use your gold coin to get fiat to purchase what you need or likely will need for what ever event. That exchange should likely happen while gold can still be exchanged for fiat. Not that no one shouldn't hoard any gold but gold's only value is in what it can purchase and since you can't use gold to actually purchase anything then it has to be exchanged for fiat to get the goods. No matter, once you have the goods, gold has fulfilled its purpose. Just a thought.
Got CASH?
<< <i>Gold and Fiat, regardless of the nationality, are absolute enemies. Philosophers stone-mutation of base metals into gold Hummm...since the 1200's? Actually, there was value as gold coins in exchange for goods and services in 560 b.c. when the first gold coins were issued. Gold coin in existence well before fiat Fiat is based on faith in the issuer, typically a government, whereas gold is exactly what it is; there is no intrisic value, there is no other value than as money or in exchange for goods and services sans a little electrical component work here and there. Yet, people beg it, save it, pass it down from generation to generation, hoard a little and yet it still survives, century after century.
Folk save it thinking it might be good for something in case of some event in the geopolitical arena. Folk think a 1 oz gold coin could buy a suit in the early days of US coinage but I wouldn't know, I've never worn a $1400 suit. But, the only value of gold is what it can buy for the owner...that is until there was fiat. Now you can't buy what you need with gold coin, you have to change it into fiat. You may own gold coin but the banksters own fiat and you can be pretty damn sure that they aren't going to let gold coin get between them and their fiat. Why would a bankster allow something to be valued as what it is worth when you can have 1/100 fractional banking? If you thought there would ever be another Gold Certificate in the US A beautiful thing then you would likely be wrong, as long as there is still a bankster with a banking license. If you thought there would be an international currency that might trickle down to the j6p's of the world to use in exchange for goods and services then you are likely wrong again. The only type of gold you are going to get is going to be bullion in what ever form, or rare coin and you can't buy a damn thing with it. The govts. have a strangle hold on the exchange of money/fiat/PM/anything for goods and they sit right in the middle. To let PM float freely and compete with fiat is folly for any govt. or bankster, at least if they want to survive. It didn't used to be that way but it is now.
The value of gold is in what it can buy. It would stand to reason that you should use your gold coin to get fiat to purchase what you need or likely will need for what ever event. That exchange should likely happen while gold can still be exchanged for fiat. Not that no one shouldn't hoard any gold but gold's only value is in what it can purchase and since you can't use gold to actually purchase anything then it has to be exchanged for fiat to get the goods. No matter, once you have the goods, gold has fulfilled its purpose. Just a thought.
Got CASH? >>
Looks like JP Morgan is beginning to see the light.
Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
1792 it began and now being taken over by a german exchange?
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Ron Paul is interviewed by Michael Maloney of Goldsilver.com
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
c-span-bernank
Ron Paul starts at 13:30
Writes a friend:
CNBC didn’t run any commercials during Bernanke’s testimony this morning, until Ron Paul began to speak. They came back live after his questioning, choosing to resume with Maxine Waters. State-controlled media indeed.
Who is it that thinks the Chinese are a threat to us? Or the N Koreans? Or the Vietnamese, Laotians, Cambodians, Panamanians, Iraquis, Iranians, Israelites, Japanese, Colombians, Libyians, etc etc etc etc? If you're looking for the real threat, look at the masses who have allowed this to happen.
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
<< <i>WOW! oil just spiked $2.00 in less than 4 min.! >>
Oil Jumps after Libyan air strike near oil terminal
Knowledge is the enemy of fear
High gold prices don't seem to be hindering jewelry sales either. Is the 14% increase in min. wage to help low wage earners buy PM's?
(Bloomberg) -- Gold Buying in China Jumps as Inflation Flares, Boosting Demand, UBS Says
Gold purchases in China, the world’s largest producer, climbed to 200 metric tons in the first two months of 2011 as faster inflation boosted consumer demand, according to UBS AG, which said the price may gain to $1,500.
“China is the big buyer,” Peter Hickson, global commodities strategist at Switzerland’s largest bank, said by phone yesterday, without giving a comparable figure for 2010. The estimate for the two-month period compares with full-year consumer demand from China of 579.5 tons for last year, according to the World Gold Council, a producer-funded group.
Bullion, which rallied 30 percent last year, surged to a record yesterday as uprisings in the Middle East, quickening inflation and currency debasement boosted global demand. China’s consumer prices rose 4.9 percent in January from a year earlier, exceeding policy makers’ 4 percent ceiling for a fourth month.
“Chinese interest is huge,” said Peter Tse, Hong Kong- based head of precious metals at Bank of Nova Scotia. “Demand for physical gold and imports has increased substantially” due to the Lunar New Year holiday, Tse said today, referring to the week-long break that began Feb. 2.
Immediate-delivery gold was at $1,429.05 an ounce at 5:08 p.m. in Singapore compared with yesterday’s peak of $1,434.93. Yuan-denominated bullion rose 0.5 percent to 303.58 yuan ($46.19) a gram in Shanghai, approaching the record 314 yuan, set Nov. 9.
‘Gold Is Attractive’
“Gold is attractive,” Hickson said. “The more the market becomes concerned about inflation or concerns about unrest in Africa, more and more people will look to gold.” The price may rise to $1,500 an ounce in the next six months, said Hong Kong- based Hickson, who’s worked for UBS since 1996.
Blackstone Group LP’s Byron Wien said in January that gold may rise to more than $1,600 this year “as investors across the world place more of their assets in something they consider ‘real’.” The price may reach $1,600 this year, Wayne Atwell, a managing director at Casimir Capital LP said the same month.
Protests partly linked to record food prices have erupted across North Africa and the Middle East this year, toppling leaders in Tunisia and Egypt and boosting oil prices. Libyan rebels braced for renewed clashes today with forces loyal to leader Muammar Qaddafi. Iranian protesters have clashed with security forces in Tehran, Al Arabiya reported.
Gold investment in China, the largest buyer of the precious metal after India, may gain 40 percent to 50 percent this year amid a lack of alternatives, Wang Lixin, China representative for the World Gold Council, said last month. He called that forecast a “conservative estimate.”
Bars and Coins
China’s investment demand in 2010 jumped 70 percent to 179.9 tons, surpassing Germany and the U.S., as buyers sought out bars and coins, the London-based industry group said. Consumption by the jewelry sector rose to a record 399.7 tons, it said. China imported more than 300 tons last year, People’s Bank of China Vice Governor Yi Gang said on Feb. 26 in Beijing.
China may be the “next big buyer” of gold, driven by institutional and retail demand, Credit Suisse Group AG analyst Tom Kendall said in Cape Town on Feb. 7. “If you’re sitting there in China with money in a deposit account, you’re losing between 1-2 percent a year through inflation,” Kendall said.
The boom in gold demand in China is driven by concern about inflation pressure and the poor performance of alternative investments, the producer-funded council has said. Premier Wen Jiabao pledged on Feb. 27 to boost food supplies to hold down costs, and to tackle surging property prices.
Spooked by Inflation
Jewelers at shopping malls across Beijing are witnessing a gold rush as residents spooked by inflation look to protect their money, the China Daily reported on Feb. 28
Statistics from Beijing Caibai, the city’s largest jewelry store, show sales of gold and other jewelry have totaled about 4 billion yuan so far this year, a 70 percent increase from a year ago, the report said.
China displaced South Africa as the world’s biggest gold producer in 2007. Imports through last October rose almost fivefold to 209 tons from the total shipped in the previous year, according to the Shanghai Gold Exchange. Mine output reached a record 340 tons last year, the China Gold Association has said.
The Industrial and Commercial Bank of China Ltd., the world’s biggest lender by market value, started physical-gold linked savings accounts in December with the World Gold Council. Account openings have surpassed 1 million, with more than 12 tons of gold stored on behalf of investors, it has said.
roadrunner
and also video from Squawk Box last week
not commenting on the content, just what is coming out
also good feature article in ths Wednesday's WSJ...about currency. what i like about WSJ is most of the time they will give an opposite viewpoint of the main article, but then economists can agree on many or few things but not at the same time.
only because i don't troll
i will hijack a thread, on occasion
and this thread deserves front page...too bad it can't be "stickied"
A short article covering the basics, such as the 40% reserve ratio (gold vs. notes) in effect at the time. The author suggests that numismatic coins are a scheme who's value in a shtf scenario would only be their bullion content. Therefore the Child's 1804 silver dollar would be worth about $27.50 and a 1933 $20 Saint about $1385. Something tells me that TDN and others would step up to the plate somewhere between $27.50 and $8 MILL.
With similar logic the Mona Lisa would be valued at the going price of canvas and the statue of David nothing more than its marble content.
Silver history & comparisons
roadrunner
"Silver is cheaper than gold, the average American can buy and ounce of silver without much thought. If they wanted to buy even one ounce of gold they would have to talk to their wife about it."
i guess it depends on who wears the denim in the family!
also i do think that in a shtf scenario all numismatic coins would decrease in value, some more than others but certainly no where near melt. a monster toned SLQ comes to mind as a numismatic coin that would take a big hit (from reading recent prices attained for such). ASE proofs come to mind as one's that could "trade" for close to their melt. i could be wrong but even the HR St Gaudin's with a FS label would drop quite a bit. (IMO)
this....... Labor Force Participation rate
it's at it's lowest point since mid eighties..and going nowhere
info taken from today's WSJ
somewhat economic, but there has been some concern and discussion about lack of sunspots and the effect on the earth's atmosphere and possible addition or subtraction to global "warming" or what ever you want to call it. this was sent from a buddy of mine with a masters in meterology...i'll never understand what meteors have to do with weather.
<< <i>sunspot theory
somewhat economic, but there has been some concern and discussion about lack of sunspots and the effect on the earth's atmosphere and possible addition or subtraction to global "warming" or what ever you want to call it. this was sent from a buddy of mine with a masters in meterology...i'll never understand what meteors have to do with weather. >>
I know you were joking about meteors but I was a meteorology major back in the 70s until calculus and physics did me in. For those who have wondered why it is called meteorology when it has nothing to do with meteors, it comes form two Greek words when translated it means study of what is above or study of the sky.
Sad to say, we really have very little understanding how much impact the sun has on the earth. Man cannot hold a candle to what the sun can do to our planet when it comes to global warming or cooling as well as what it can do to modern telecommunications.
Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
It is funny, but even more true than funny.
I knew it would happen.
CNBC says it all!
Nobody believes anything they say.
<< <i>I don't see what the problem is. The Chicago Fed governor Charles Evans and Steve Leesman were just chatting on CNBC about how tame inflation really is. If you're a big banker, it's all good. >>
Until last week, I would have figured Steve's name was spelled as above as well. But sure enough it is "Liesman." Perfect name for an economics reporter. You can't make this stuff up.
roadrunner
Well, in their defence, they deliver their presentations with the sincerity and commitment of well schooled journalists. Nice clothes, well groomed appearance and they look right into the camera when explaining complicated issues to their intellectually impoverished fact deprived audience members. It's unfortunate that you can't use the information for actual decision making.