The Golden Truth: BOOM! Goes the Dynamite

Thursday, February 25, 2010

BOOM! Goes the Dynamite

Gold and silver exploding despite the big sell-off in the general stock market. Perhaps a delayed reaction to the China news?

6 comments:

anliuThursday, 25 February, 2010
dave as much as us gold bugs get flustered when gold gets hit, we don't realize how important the barbarous relic is to the money masters... as bill still highlights in his two documentaries.
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Dave in DenverThursday, 25 February, 2010
agree. i've recently come to the conclusion that there is a huge chess game going behind the scenes between the PTB (Rothschild, etc)/China/India etc to see who can control that most amount of physical.
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EconomicDisconnectThursday, 25 February, 2010
The resiliency of gold here is driving people that think it is only an inflation hedge mad, while at the same time driving deflation bugs crazy that it remains solid. Maybe if they could understand that gold IS money and every government the world over is printing money (which may or may not lead to inflation; I know long discussion) gold becomes a must have item. Maybe one day!
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ackerrjThursday, 25 February, 2010
Dave, when has "Pravda" ever been a reliable source?

You have a link to the original post on Finmark?
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Dave in DenverThursday, 25 February, 2010
ackerjj: my view is that Pravda is arguably, probably a better source than the elitist controlled-drivel reported over here.

Having said that, here is the link:

http://www.finmarket.ru/

I have an email into a good friend of mine who is a Russian linquistics and cultural expert asking him to see if he can find out the reliablity of this source.

And actually, it turns out that India is now in competition for the rest of the IMF gold.
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Dave in DenverThursday, 25 February, 2010
gyc: all valid points. the deflationists will soon have very high food/energy prices shoved up their ass. I can't wait!!! LOL
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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.