The Golden Truth: Lazy Snowy Friday...

Friday, February 25, 2011

Lazy Snowy Friday...

2nd round of club championships tomorrow morning at my tennis club...I have material for a post today and I may post something later. In the meantime, everyone I'm sure can use a pre-weekend chuckle. I posted this a few months ago but it still cracks me - I've got the translation below the video:

Here's what the Italian guy says:

"Che cosa?" - What?
"Tu sei un pazzo" - You are a madman
"Va via di qui" - Get out of here
"Sono stanco di te" - I'm tired of you
"Pugno nella testa" - I will punch you in the head
"Ti uccido con questa carne" - I'm going to kill you with this meat

ENJOY!

5 comments:

AnonymousFriday, 25 February, 2011
Thanks for all of your postings...I recall in a previous post that you mentioned you sold your home in 2004...was that because of the drop in housing that you saw coming? Do you believe it will bottom out in 2011, 2012, or hard to say? (I sold my home last year with a plan to buy back in at some point)
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EconomicDisconnectFriday, 25 February, 2011
Good luck! Are you a baseliner or a serve and volley type? I was a mini Stefan Edberg wanna be at the net. I sent you and email at your midas address.
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Dave in DenverFriday, 25 February, 2011
Hey gyc. Right now I'm just a serve hard and win any way I can type lol. I'm working on developing a style that will let me get to the net a lot more often. I'm left-handed so I have a really strong serve to the ad court.
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Dave in DenverFriday, 25 February, 2011
re: housing: I sold because I knew the market would tank hard. I bet the home I sold is down at least 30% from where I sold it.

I don't see this bottoming for a long time. And then I think it will bounce along the bottom for a long time. There's too much inventory and to few buyers.

When someone can tell me how our system will start putting people back to work and allowing another credit boom to happen, then I will think about whether or not housing can ever recover. I have been waiting for several years for someone to explain to me how we fix what is unfixable without a "do-over" and an extreme degradation of the lifestyle to which we've been accustomed for the last 50 years.

I would not buy real estate under any circumstances for a long long time. Too many unknown variables people don't even think about like how much will they eventually raise property taxes. How expensive will insurance get, etc...
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danteFriday, 25 February, 2011
Lazy friday...good read for those unfamiliar with how the great ones fleece us all...a little dated but interesting

Comments of Thomas Peterffy
Chairman and C.E.O., Interactive Brokers Group
11 October, 2010

In the U.S., the picture is not very different. Brokers internalize stock
trades and put them up at the clearinghouse. They at least are supposed to
provide best execution, but best execution is vaguely defined and poorly
enforced. Brokers in the U.S. must post reports showing where they route their
customers' orders. But do you suppose that brokers care what's reflected in
those reports? They do not.
It should be shocking, but it probably is not, that according to the Rule 606
reports mandated by the U.S. Securities and Exchange Commission, no major
online broker, with the sole exception of Interactive Brokers, sent more than 5%
of its orders to an organized exchange. More than 95% of their orders go to
internalizers!

http://www.interactivebrokers.com/download/worldFederationOfExchanges.pdf
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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.