The Golden Truth: Quote of the Year So Far...

Tuesday, February 2, 2010

Quote of the Year So Far...

This quote is from Institutional Risk Analytics, and I sourced it from here: Jesse's Cafe Americain

the AIG bailout, a hideous political contrivance that ranks with the great acts of political corruption and thievery in the history of the United States

It would appear that the tax-cheating, lying Tim Geithner has survived yet another brutal public undressing, with Obama apparently more than happy to keep Geithner as the Government Thief in charge of Tax Revenues. I guess the Massachusetts election did not send much of a message to Obama. Since I refuse to believe that Obama is stupid, the only other conclusion is that, as per many other points of evidence, the big banks are completely in control of our Government and will go to any lengths in order to confiscate your wealth. I think this picture pretty much sums it all up, as this is Obama's chief economic advisor, Larry Summers, on the job:

4 comments:

JoeTuesday, 02 February, 2010
I believe AIG, Freddie and Fannie are derivatives-laden nightmares. Their failure would start a chain reaction that would cause global systemic collapse in a heartbeat.

As such, they represent a black hole for the USD and will be bailed out to the end.
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Dave in DenverTuesday, 02 February, 2010
No question about it. The Fed/Treasury have not even started the real printing yet. They didn't stop reporting M3 just to hide a couple extra trillion...
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AnonymousTuesday, 02 February, 2010
"Since I refuse to believe that Obama is stupid, the only other conclusion is that, as per many other points of evidence, the big banks are completely in control of our Government and will go to any lengths in order to confiscate your wealth."

BINGO!
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EconomicDisconnectTuesday, 02 February, 2010
Dave,
a reader submitted an old link that speaks to this as well, I will post it tonight.
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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.