The Golden Truth: Is This Guy Serious?

Tuesday, May 10, 2011

Is This Guy Serious?

Either this is Jonathan Swift-esque parody or this guy is mildly retarded:

"U.S. Treasuries Should Be Bought, Not Sold" Here's the LINK

Really? This guy can't be serious - He cannot be serious (apologies to John McEnroe)

8 comments:

AnonymousTuesday, 10 May, 2011
Very funny Poopers.
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EconomicDisconnectTuesday, 10 May, 2011
"You cannot be serious! That ball hit the line; chalk blew up everywhere!". Love that guy.
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Dave in DenverTuesday, 10 May, 2011
Hey GYC. Mac was the best. I think he may have been the best tennis player ever. His name is definitely in the conversation, anyway. Although I found out recently from someone who knew a pro circuit ball-boy at the time that Bill Tilden had a serve that was faster than Sampras' serve. Apparently he was clocked (by hand) at 165. BUT they used wooden rackets back then...

I'm leaning toward (finally) getting a medium size Green Egg Grill.
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AnonymousTuesday, 10 May, 2011
Tell the dumb ass good luck...maybe he's captured?????????????

THE LIQUIDATION OF GOVERNMENT DEBT
ABSTRACT
Historically, periods of high indebtedness have been associated with a rising incidence of default or restructuring of public and private debts. A subtle type of debt restructuring takes the form of “financial repression.” Financial repression includes directed lending to government by captive domestic audiences
(such as pension funds), explicit or implicit caps on interest rates, regulation of cross-border capital movements, and (generally) a tighter connection between government and banks. In the heavily regulated financial markets of the Bretton Woods system, several restrictions facilitated a sharp and rapid reduction in public debt/GDP ratios from the late 1940s to the 1970s. Low nominal interest rates help reduce debt servicing costs while a high incidence of negative real interest rates liquidates or erodes the real��
of government debt. Thus, financial repression is most successful in liquidating debts when accompanied by a steady dose of inflation. Inflation need not take market participants entirely by surprise and, in effect, it need not be very high (by historic standards). For the advanced economies in our sample,
real interest rates were negative roughly ½ of the time during 1945-1980. For the United States and the United Kingdom our estimates of the annual liquidation of debt via negative real interest rates amounted on average from 3 to 4 percent of GDP a year. For Australia and Italy, which recorded higher inflation rates, the liquidation effect was larger (around 5 percent per annum). We describe some of��
regulatory measures and policy actions that characterized the heyday of the financial repression��era.

http://www.imf.org/external/np/seminars/eng/2011/res2/pdf/crbs.pdf
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AnonymousTuesday, 10 May, 2011
Give me what he's drinking......

Might as well be playing the soundtrack from Jaws....

"Outgoing FDIC Chairman, Sheila Bair today warned regulators to be mindful of the “moral hazard” of creating a federal backstop for money market funds – a $2.7 trillion industry.

No surprise that she waited until she announced her resignation before addressing such controversial issues. This sounds a lot like the Brooksley Borne warning on derivatives.

God help us all.

Kind regards,
CIGA Black Swan

FDIC warns on moral hazard for money market funds

May 10 (Reuters) – Banking regulator Sheila Bair warned her fellow financial supervisors on Tuesday that a federal backstop for money market funds could induce careless corporate behavior because of a belief the government would always come to the rescue.

Outgoing Federal Deposit Insurance Corp Chairman Bair said regulators needed to be "mindful" of so-called moral hazard on creating a backstop for the $2.7 trillion industry.

http://www.reuters.com/article/2011/05/10/funds-moneymarket-idUSWAT01510720110510

http://www.jsmineset.com/2011/05/10/jims-mailbox-696/
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AnonymousTuesday, 10 May, 2011
You think the Chinese will flinch?

Hu you going to call now?

About those bonds...
You might want to file this under how to lose friends and deter your creditors

Hillary Clinton: Chinese System Is Doomed, Leaders on a 'Fool's Errand'
By Jeffrey Goldberg

It was during this part of the conversation, when the subject of China, and its frightened reaction to the Arab Spring, came up, that she took an almost-Reaganesque turn, calling into question not just Beijing's dismal human rights record, but the future of the Chinese regime itself. The Obama Administration has been ratcheting-up the rhetoric on China's human rights record lately, especially since the arrest of the dissident Ai Weiwei, but Secretary Clinton, in our interview, went much further, questioning the long-term viability of the one-party system. After she referred to China's human rights record as "deplorable" (itself a ratcheting-up of the rhetoric), I noted that the Chinese government seemed scared of the Arab rising. To which she responded: "Well, they are. They're worried, and they are trying to stop history, which is a fool's errand. They cannot do it. But they're going to hold it off as long as possible."

Clinton's assertion that the repressive Chinese system will eventually collapse brought to mind nothing so much as Reagan's statement, made to Richard V. Allen in 1977, about America's goal in the Cold War: "My idea of American policy toward the Soviet Union is simple, and some would say simplistic," Reagan said. "It is this: We win and they lose."

http://www.theatlantic.com/international/archive/2011/05/hillary-clinton-chinese-system-is-doomed-leaders-on-a-fools-errand/238591/
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JPTuesday, 10 May, 2011
McEnroe -- what a pfuking little prick. Always rooted for his opponents. Pleased whenever Björn Borg beat his spoiled whiny ass. Rudest tennis player ever and an embarrassment to American tennis.
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AnonymousWednesday, 11 May, 2011
More on bonds...
Jim Sinclair
“The bonds are indicating that the psychology which is most supportive to gold is returning to the market place. And the action in gold after the recent reaction in gold, is so stout, so strong, as is silver itself, so stout, so strong in its recovery, that the only conclusion that you can come to is that we have not established a top in silver and clearly we’re nowhere near a top in gold.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/11_Jim_Sinclair_-_Were_Nowhere_Near_a_Top_in_Gold!.html

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/5/11_Jim_Sinclair.html
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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.