The Golden Truth: This Is Haunting In Every Respect...

Monday, September 14, 2009

This Is Haunting In Every Respect...

I wanted to link this post from Barry Ritholtz's Big Picture. The photo in the post should shock everyone into reality about the condition of the U.S. economy. Next time you hear the idiots running our system, like Banana Ben Bernanke or Tiny Brain Tim Geithner, remark about how they saved our system and that we're on the road to recovery, think about the picture in this post, which says more than 1000 words about how ugly the economy is globally:

The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination – and is why your Christmas stocking may be on the light side this year (here's the link):

A Picture Says 1000 Words

Everyone got gold?

5 comments:

EconomicDisconnectMonday, 14 September, 2009
I caught that picture of the ships on anchor. Very surreal, though many sources are trying to say that is usual to have that many ships not in use. Who are you going to believe?
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Dave in DenverMonday, 14 September, 2009
LOL. Hmmmmmm, let's see...ya I guess it's typical to leave mega-million dollar assets unuitilized and floating around doing nothing except burning capital....

The Baltric Dry index is all you need to watch. When that index goes up, there's not any ships waiting outside of port.
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UnknownMonday, 14 September, 2009
What does that have to do with the US? Seems to me that picture says more about China than it does the US.
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Dave in DenverTuesday, 15 September, 2009
It's a picture to emphasize my rhetorical question about whether or not everyone reading the post has taken measures to protect themselves by accumulating physical gold.

It's an editorial statement about what real money looks like...
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UnknownTuesday, 15 September, 2009
"protect themselves by accumulating physical gold"

Why would they want to do that? Buying gold is little more than buying a room at the roach motel. You obviously have little understanding of the gold market and what animates it up or down. Keep your idiotic "investment advice" to yourself.
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.