The Golden Truth: New Quote Of The Month Candidate

Thursday, October 7, 2010

New Quote Of The Month Candidate

Today the signs are all there for an earth-shaking currency collapse, but we are all like a bunch of rabbits,glued to the highway, mesmerized and immobilized by the glare of an oncoming eighteen wheeler. In fact, a convoy of eighteen wheelers. If the first one doesn’t get us, the second certainly will.

That's by Murray Pollit of Pollit & Co. This is one analyst/commentator to whom I always pay attention. I've linked his entire commentary below (it's short and not sweet).

PollitonGold -

6 comments:

JoeFriday, 08 October, 2010
I think this is what the action in Gold and Silver has been telling us.

We are right on the hairy edge of a major USD crisis that might even wake up the sleep-walking masses.

Joe M.
ReplyDelete
Replies
EconomicDisconnectFriday, 08 October, 2010
We cannot be close to a crisis, the S&P is going UP!!!!!
snark for Friday enabled.

Have a great weekend!
ReplyDelete
Replies
AnonymousFriday, 08 October, 2010
This will be much bigger then just the U.S. Most European countries will have an economic collapse as well. China with all it's wealth and growth will suffer when their "customers" are all bankrupt. Resource rich countries with small populations (like Canada and Australia) may not be hit quite as bad but they too will suffer. Which domino falls first may be the mystery but the real question is which country(s) come out of it in good shape is the question. If you can ride out the early part of the collapse I'm betting the U.S. will be one of the best places to be a few years from now. Not as good as it once was but better then some places will be in a few years. Canada and Australia may ride this out fairly well.
ReplyDelete
Replies
AnonymousSaturday, 09 October, 2010
Wow! I never knew I was a JERK
ReplyDelete
Replies
AnonymousSunday, 10 October, 2010
October 8, 2010

London, Asharq Al-Awsat – Iraqi political and security sources in Baghdad have spoken of their fears of either a military coup taking place in Iraq or a militant Shiite militia overthrowing the government.

An Iraqi official, speaking to Asharq Al-Awsat from Baghdad, revealed that "important Iraqi political leaders have strengthened the security of their headquarters, offices, and homes" adding that they have also "restricted their movements both inside and outside of Baghdad." The source claimed that this came "following advice or warnings from Iraqi security and US military commanders in Iraq."

The Iraqi official, who spoke to Asharq Al-Awsat on the condition of anonymity, said that "we are not ruling out a military coup taking place especially as the political history of Iraq is full of military coups, and in light of the decision of the commander-in-chief of the Iraqi armed forces, Prime Minister Nouri al-Maliki, to surround Baghdad with military forces…and to exclude other leaders from positions of direct responsibility of the movements of the army, as well as the arrest of senior officers in Baghdad, Mosul, Diyali, Tikrit. This gives rise to fears of a military coup in the event of al-Maliki not being able to remain as prime minister."
ReplyDelete
Replies
AnonymousSunday, 10 October, 2010
Here we go. Distraction of the masses by means of war. Good time to get tough just before the November elections. Cos one thing is sure Hezbollah will not take the rap for Harari so they will change the government in Beruit if the UN does not back down. Afterall they won the last election and only agreed to the current compromise if Harari's son did not push his father's death onto them or Syria. Harari has gone back on this deal.

Obama ultimatum makes Assad responsible for any Hizballah violence in Lebanon
DEBKAfile Exclusive Report October 9, 2010,

President Obama had four objects in mind when he posted his exceptionally tough ultimatum:

1. The Syrian and Iranian presidents have been leaning hard on Hizballah leader Hassan Nasrallah to strike as soon as Ahmadinejad is gone to grab Lebanon's centers of power and burn the ground from under Saad Hariri's government.
2. This action carries the high risk of civil war or Israeli military intervention, both of which the Obama administration is intent on averting.

3. When US diplomats asked Arab League foreign ministers gathered in Sirte, Libya, Friday not to slam the door on direct Israel-Palestinian talks, they were informed by the Saudi and Egyptian ministers that this issue was inextricably bound up with the crisis in Lebanon. If Washington agreed to step in firmly to preserve the stability of the Hariri administration, they would see to it that the US is given time to overcome the impasse on the Israeli-Palestinian track over Israeli construction on the West Bank and Jerusalem
ReplyDelete
Replies

Add comment

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.