The Golden Truth: Thanks BP - Here's Some More Truth

Wednesday, June 16, 2010

Thanks BP - Here's Some More Truth

A commentor posted this analysis. It is a very grim, yet insightful view of what has transpired and what is likely to unfold. Do not believe anything that you hear coming from the perpetrators of this ultimate crime against humanity OR from the Government that is covering up the truth in order to cover its ass. There is no Golden Truth coming from either Tony Hayward or Barak Obama. Everyone should read this:

We can only hope the race against that eventuality is one we can win, but my assessment I am sad to say is that we will not. The system will collapse or fail substantially before we reach the finish line ahead of the well and the worst is yet to come. Sorry to bring you that news, I know it is grim, but that is the way I see it....I sincerely hope I am wrong.

We need to prepare for the possibility of this blow out sending more oil into the gulf per week then what we already have now, because that is what a collapse of the system will cause. All the collection efforts that have captured oil will be erased in short order. The magnitude of this disaster will increase exponentially by the time we can do anything to halt it and our odds of actually even being able to halt it will go down.

The magnitude and impact of this disaster will eclipse anything we have known in our life times if the worst or even near worst happens...

Here is the link to the whole piece: Show No Mercy For The Wicked

If you don't live in the South and therefore believe that you are likely safe from the chemically corrosive rainfall that will come with hurricane season (and which is setting up to be a doozy based on the extraordinarily warm water circulating in the Gulf right now), don't get too complacent, because the economy is getting ready to take a big tumble. Housing starts fell quite a bit more than expected. This on the heels of the homebuilding sentiment index tanking several points to a near-record low. With Europe reeling, expect exports to start tanking. And don't think for a minute that the Gulf situation won't affect GDP. I expect auto sales to start heading south again. If someone can explain to me how on earth our economy is going to generate real, organic economic growth, please throw out suggestions. I'm open to anything. But in the meantime rest easy knowing that Obama is making rock-solid certain that he prints enough money to keep all public employees at their mostly useless jobs and their pension coffers full.

4 comments:

AnonymousThursday, 17 June, 2010
The statists will throw paper and propaganda at the problem. That's all they know.
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AnonymousThursday, 17 June, 2010
Bill Buys BP Bonds

Bond giant Pimco has begun buying the high-yield debt of battered energy company BP, Pimco CIO Bill Gross told CNBC.

Yes but which ones and where? Somebody has done their homework.
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AnonymousFriday, 18 June, 2010
Probably shorting the shares to give them arbitrage in a receivership.
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bix1951Saturday, 19 June, 2010
business is good in my WLA neighborhood and has been all through the great recession
I operate apartments.
I have lowered some rents.
I am fully occupied right now, no vacancies.
My TV director neighbor is doing very well.
My friend who owns restaurants is doing very well. All my friends seem fine.
Things are not that bad.
I am sure we will muddle through.
People who borrow too much always get into trouble. Prudent people almost always do well.
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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.