Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on July 13, 2011, 08:50:02 AM
-
ZeroHedge: Price of Gold Goes Parabolic...(Growing Distrust of US/European Economic Policy)
ZeroHedge ^
As Bernanke reminds the world that the one and only weapon in his arsenal is stealth inflation through dollar devaluation (yes, some had already forgotten it, especially all those economists, think tanks, and others who claimed there was no QE3 hint in the FOMC minutes), there is one clear winner: gold, which continues to surge to all time highs and will likely cross $1,600 within the week (if not day), from which point it is smooth sailing to $_,000.
(Excerpt) Read more at zerohedge.com ...
-
Fed Chairman Bernanke Says "Gold Is Not Money" ... But His Predecessor Alan Greenspan Disagrees
Zero Hedge ^ | 7/13/11 | George Washington
Fed Chairman Bernanke told congress today:
‘Gold isn’t money’
But Bernanke's predecessor - former Fed chair Alan Greenspan - disagrees.
As I noted in 2009:
Professor Emeritus of Mathematics Antal Fekete has argued for years that gold is the ultimate - and only - safe haven when things really hit the fan.
For example, in 2007 Fekete wrote:
The grand old man of the New York Federal Reserve bank’s gold department, the last Mohican, John Exter explained the devolution of money (not his term) using the model of an inverted pyramid, delicately balanced on its apex at the bottom consisting of pure gold. The pyramid has many other layers of asset classes graded according to safety, from the safest and least prolific at bottom to the least safe and most prolific asset layer, electronic dollar credits on top. (When Exter developed his model, electronic dollars had not yet existed; he talked about FR deposits.) In between you find, in decreasing order of safety, as you pass from the lower to the higher layer: silver, FR notes, T-bills, T-bonds, agency paper, other loans and liabilities denominated in dollars. In times of financial crisis people scramble downwards in the pyramid trying to get to the next and nearest safer and less prolific layer underneath. But down there the pyramid gets narrower. There is not enough of the safer and less prolific kind of assets to accommodate all who want to "devolve”. Devolution is also called "flight to safety”.
Darryl Schoon makes the same argument.
(Excerpt) Read more at zerohedge.com ...
-
Ron Paul obliterated the head bankster today. How embarrassing.
"Tradition". Hahahaha!
Get your silver, bitchez!
-
Poor Ben Bernanke. lol
-
And poor taxpayer and saver.
-
Ben quivering lip gives it all away.
-
Ben quivering lip gives it all away.
Holy shit.
-
Holy shit.
I don't get it, Ben is correct that gold isn't money...at least in the U.S. Its an asset and a commodity. You can go into a pawn store and get money for it but you can do the same thing with a flat screen T.V.
-
Ben quivering lip gives it all away.
Nothing will come of it. They'll wait another six months and then they'll let QE3 rip. Because, you know, if it didn't work the first two times it's guaranteed to work the third!
-
I don't get it, Ben is correct that gold isn't money...at least in the U.S. Its an asset and a commodity. You can go into a pawn store and get money for it but you can do the same thing with a flat screen T.V.
Haha ha. Are you playing dumb on purpose?
-
oh.
I thought the QE3 was the replacement for the QE2.
(Cunard's Queen Elizabeth 2 liner)
not to be confused with the QM2.
or Cunard's Queen Victoria.
;D
-
oh.
I thought the QE3 was the replacement for the QE2.
(Cunard's Queen Elizabeth 2 liner)
not to be confused with the QM2.
or Cunard's Queen Victoria.
;D
those are very fine ocean-faring vessels. :D
-
That Ron Paul video is fucking priceless, btw. GO RONNIE!
-
That Ron Paul video is fucking priceless, btw. GO RONNIE!
the other Ron Paul priceless video is his appearance in "Bruno" of a couple years ago...
-
Why don't they hold diamonds biatch?!
Lol
It's tradition. ::)
-
Why don't they hold diamonds biatch?!
Lol
It's tradition. ::)
Seriously? Does it get any worse than this?
Oh yeah - Bernake is from Princeton - not to worry. ::) ::) ::)
-
Vince has Bernankes back.
-
Vince has Bernankes back.
Vince is the texbook 95er socialist. There is no bigger caricature than vince for the 95er phenomena.
-
I have to admit, I was completely wrong on PMs like two years ago. I gave Bindare a lot of shit about them. Then again, I didn't think Obama would spend this country to the brink of insolvency.
I'm debating dumping a few grand into buying silver eagles. I want to but there's a nagging doubt in my head saying that the government is going to knock gold and silver back down to reality around September.
-
I have to admit, I was completely wrong on PMs like two years ago. I gave Bindare a lot of shit about them. Then again, I didn't think Obama would spend this country to the brink of insolvency.
I'm debating dumping a few grand into buying silver eagles. I want to but there's a nagging doubt in my head saying that the government is going to knock gold and silver back down to reality around September.
This is the reality for commodities as they are real, tangible and they actually exist. The Fed has been manipulating gold/silver forever, it has to as increased gold/silver prices invalidate it as an institution. I get what you're saying though and agree that tangible assets need to be a part of someones portfolio, real ones not ETF's.
-
This is the reality for commodities as they are real, tangible and they actually exist. The Fed has been manipulating gold/silver forever, it has to as increased gold/silver prices invalidate it as an institution. I get what you're saying though and agree that tangible assets need to be a part of someones portfolio, real ones not ETF's.
Every time Obama or Bernanke opens their suckholes the fluctuations in gold and silver prices are stunning.
-
I have to admit, I was completely wrong on PMs like two years ago. I gave Bindare a lot of shit about them. Then again, I didn't think Obama would spend this country to the brink of insolvency.
I'm debating dumping a few grand into buying silver eagles. I want to but there's a nagging doubt in my head saying that the government is going to knock gold and silver back down to reality around September.
Thanks, I appreciate that.
I think we're safe for a while. What has changed to make PM's go down significantly and stay there?
Nothing.
Although, anything is possible, I guess.
-
Ben quivering lip gives it all away.
Good clip
Where is Ron Paul in the pools? Possibly the last honest politician
-
Nothing will come of it. They'll wait another six months and then they'll let QE3 rip. Because, you know, if it didn't work the first two times it's guaranteed to work the third!
Bump
-
http://www.wnd.com/2012/09/ron-paul-federal-reserve-detached-from-reality
-
http://www.bloomberg.com/video/rep-paul-country-should-panic-over-fed-s-decision-NIqyHkoiS1OR2obmN~rKUg.html
What a disaster.