The Golden Truth: Quote Of The Weekend

Sunday, September 12, 2010

Quote Of The Weekend

So far in the first 19 months of Obama’s presidency he’s raised the national debt by $2.5260 Trillion. That’s more than all the debt combined from George Washington all the way to the end of Ronald Reagan’s presidency.

That’s 200 years.

Warren Bevan LINK

4 comments:

JoeSunday, 12 September, 2010
Dave,

I recall Reagan running up 4 trillion in debt over his two terms. He was doing star wars and in the business of destroying the USSR. He also deregulated everything in sight. I was working for Western Electric when he broke up the benevolent Ma Bell.

Joe M.
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satchSunday, 12 September, 2010
That means we're RICH!!!

http://www.youtube.com/watch?v=UjbPZAMked0
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fubsy_cooterSunday, 12 September, 2010
Debt expansion is out of control, but is only equal to the fear by the populace that we may have to endure pain. Pain that is the cost of 40 years of excess. Until we are ready to endure the pain, politicians will avoid it at all costs.

I believe that Obama had an oppty when he was elected in that the populace was fed up with wall street and politics, as usual, and was ready to take pain to see the ship turned around. But now, with many believing the worst is behind us, I believe the taste for pain is diminished, and an oppty lost. Obama turned out to be a false promise of change.

BTW, Bush increased the national debt by six trillion. He also blew a tremendous oppty, and was in my mind the worst President in the history of our nation.

Any way you slice, we're in trouble if we continue on this course of increased debt and spending.
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AnonymousTuesday, 14 September, 2010
Joe, Reagan didn't run up the debt the congress did. In the case of Obama he has a Democrat congress and most of the excess spending was proposed by Obama as well as congress.

The phony $4 trillion number tells me you actually have no clue. I assume you read it somewhere on a radical left wing blog. Do the research!
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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.