The Golden Truth: IS The United States Bankrupt?

Friday, February 24, 2012

IS The United States Bankrupt?

"it depends on what the meaning of the word 'IS' is" - Bill Clinton

Have a great weekend. I hope everyone has been accumulating gold and silver at these fire sale prices.

16 comments:

AnonymousFriday, 24 February, 2012
Blistering comments about JPM’s role in MF Global fiasco

http://commoditycustomercoalition.org/?p=1065

This IS applicable..from jesses cafe..

“What is that [present government] of England? Do not its own inhabitants say, 'It is a market where every man has his price, and where corruption is common traffic, at the expense of a deluded people?'" Thomas Paine, The Rights of Man
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JesseFriday, 24 February, 2012
Stockton California Takes First Steps Towards Bankruptcy

"Somebody has to suffer and in this case the city manager has decided it should be the bondholders who suffer."

http://jessescrossroadscafe.blogspot.com/2012/02/stockton-california-takes-first-step.html
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AnonymousSaturday, 25 February, 2012
AMERIKAN OLIGARCH (w/Limerick)

Warren is talking his book
A guy who sure knows how to cook
A thousand lies told
About owning gold
Another American crook!

The Limerick King

http://www.flickr.com/photos/expd/6928665807/
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AnonymousSaturday, 25 February, 2012
SEC probes exchanges and electronic trading firms ties-WSJ
(Reuters) - The U.S. Securities and Exchange Commission has launched a probe into the ties between stock exchanges and certain electronic trading firms, the Wall Street Journal reported on Saturday, citing people familiar with the matter.

BATS Global Markets Inc, a U.S. exchange operator that is planning an initial public offering, said in a government filing cited by the Journal that it got a request from the U.S. regulator's enforcement division for information on the use of order types and its communications with certain market participants.

The SEC also asked BATS for details about its information technology systems and trading strategies, the filing said.

The inquiry also was examining communications BATS has with certain members affiliated with certain stockholders and directors, the paper reported.
http://www.reuters.com/article/2012/02/25/us-sec-probe-trading-idUSTRE81O0GG20120225?
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AnonymousSaturday, 25 February, 2012
The Media And GOP Are Suppressing The Reality That Ron Paul Has Reached Critical Mass

Ron Paul is no longer a lone voice in the political wilderness. He is not a lion without a pride in these dark days. He is not fighting the good fight alone in an empty room anymore. Ron Paul is now a shepherd who is leading millions of politically aware individuals in America and around the world out of the dark woods of economic ignorance and political tyranny.

The rise of Ron Paul is a great American success story. Throughout his political and medical career, Dr. Paul has lived the philosophy of the dark horse. Steady in stride, and determined in mission, the dark horse is the political world’s most noble creature. The Spirit of Endurance sets apart the dark horse from the rest of the field.

Ron Paul is clearly leaving the competition behind in the 2012 Republican presidential race. Dr. Paul has won the hearts and minds of the nation and of the world by the sheer force of his independent will and the integrity of his arguments. Dr. Paul’s plan to reconstruct America’s foreign policy and financial infrastructure based on constitutional principles has caught on like wildfire with the American people.

But the established system of fraud and war is resisting Ron Paul’s rise with: fraud and war.

The frightened GOP establishment and state-run mass media are using fraudulent means to contain the fire of freedom that Ron Paul has started, while picking an unnecessary fight with Iran to boost Obama’s weak leadership credentials during an election year.

The Establishment’s conspiracy against Ron Paul is a conspiracy against the American voter and the American taxpayer. Only Ron Paul represents the interests of the American people and the American nation. Every other political leader in the 2012 presidential race, including Barack Obama, represents the interests of the cannibalistic American ruling class and international banking cartel.

http://sgtreport.com/2012/02/the-media-and-gop-are-suppressing-the-reality-that-ron-paul-has-reached-critical-mass/
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AnonymousSunday, 26 February, 2012
Offshore banking benefits who?

AIJ moved huge sums to Cayman Islands, Hong Kong

AIJ Investment Advisors Co. transferred huge sums in corporate pension assets it manages to a fund in the Cayman Islands and then moved the money to the Hong Kong account of a major European bank, sources said.

The Securities and Exchange Surveillance Commission has not been able to trace where the money went after reaching Hong Kong.

The sources said the SESC was investigating the motive for transferring the funds overseas, including the possibility that the money may have been misappropriated.

http://ajw.asahi.com/article/behind_news/social_affairs/AJ201202250037

quite amazing...most people get detained trying to move more than $10,000 at an airport....buy hey 100's of millions can't be traced?GFY
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immigration expert canadaMonday, 27 February, 2012
The Securities and substitute observation Commission has not been bright to trace where the limescale went after acquiring Hong Kong.
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Calendar PrintingMonday, 27 February, 2012
The rise of Ron Paul is a great American luck story. Throughout his political and medical career, Dr. Paul has lived the philosophy of the gloom horse. Steady in stride, and determined in mission, the dark horse is the political world’s mass noble creature. The Spirit of Endurance sets apart the gloom horse from the rest of the field.
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AnonymousMonday, 27 February, 2012
What Is the 'Spot Price' of Gold and Silver?

What about the usual argument that the self-regulating proponents trot out that if the metals pricing is inefficient, it will create artificial shortages, and physical buying will break that scheme down over time?

Participants in the futures are not able to seriously address a significant market mispricing because the prices set in the paper markets are not conducive to efficient arbitrage of inefficiencies. The rules of the exchange sets limits on the delivery of physical bullion, favoring cash settlement and the positions of insiders and those who make markets in paper shorts that may be in multiples of physical supply. The CFTC has shown a remarkable inability and some might say unwillingness to address this in the silver market for example, which is a scandal.

Not even a motivated buyer with deep enough pockets would take on this market openly because all they would do is buy against themselves, and drive a default which would be cash settled by force. More likely they would be labeled as trying to 'corner' the market and punished severely.

You might ask at this point, why would anyone ever wish to engage themselves in this market, besides those who must obtain supply for industrial or cosmetic uses? Few do actually, except to buy physical bullion at the retail level.

From a purely economic perspective if I were going to set up a mechanism to allow price fixing and fraud to occur, I could do little better than what exists in the US today, except perhaps to set up something more like an opaque and self directing monopoly such as the Federal Reserve and its Banks have in their ability to create money virtually out of nothing.

http://jessescrossroadscafe.blogspot.com/2012/02/what-is-spot-price-of-gold-and-silver.html
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AnonymousMonday, 27 February, 2012
It seems many of its citizens are pretty close...

In tough economy, people turning in rare, unique items in for cash
Local businesses say residents are bringing historic currency, memorabilia to sell.
FAIRFIELD — A weak economy and families struggling to pay bills and put food on their tables is forcing some people to search their homes for gold, silver, coins and unusual items to obtain extra cash.

He said working at the store, which is a main retailer of coins for the company’s six locations in Greater Cincinnati, shows him how bad the economy really is.

“Just the average person doesn’t see it. I see it everyday. People come in that are absolutely desperate for money. They’re good, hardworking people that just lost their jobs or have fallen on hard times. A lot of these girls only have a little bit of gold and it’s breaking their hearts to sell it. They tell me, ‘If I don’t get $100 by tomorrow, they’re going to kick me out of my apartment’ or ‘I’m going to lose my car.’ It just breaks your heart,” he said.

http://www.middletownjournal.com/news/middletown-news/in-tough-economy-people-turning-in-rare-unique-items-in-for-cash-1333681.html
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AnonymousMonday, 27 February, 2012
Look who's laughing...

For eighteen months the HUI can't get it up with a gold price at 1760 and the Barrons gold index is at 1980 level - how pathetic this gold community. They are running out of sheeple to suck in. All miners are getting downgraded by the main houses even if they havent gone anywhere since 2001. only a handful have done well because the sheeple were herded in by news letter writers.

Love religious experience as Embry always says. they just want to sell there stuff to fools.

Miners will never go anywhere again - energy costs.

The only reason always given for the pathetic miners is the invisable hand - manipulation. Well every tradesman always blames his tools for a balls up.

Can't even make a new high - the HUI.
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AnonymousMonday, 27 February, 2012
The only way miners have an up day is in fact by being manipulated up for at most two days and then they leak. real strength is when you have small moves going up for days before a sharp correction which is quick. So exactly the opposite to what is happening now. they always need to have something go up - either gold by a wide margin or stocks.

They have never ever gone up by themselves because they may be undervalued. They aren't - they are exactly where they are supposed to be.
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AnonymousMonday, 27 February, 2012
Punk Economics: Lesson 2

Irish economist David McWilliams explains the ECB's massive cash for trash scheme -- bailing out banks with your money.

http://youtu.be/V5z0rQRdsiE
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KonkurssiTuesday, 20 March, 2012
United state cannot encounter bankruptcy because united state is one of the develop country rather than Europe.
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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.