The Golden Truth: Thinga-ma-jigs That Leave Me Speechless

Monday, June 4, 2012

Thinga-ma-jigs That Leave Me Speechless

QE is coming in one form or another, both in Europe and the U.S. It has to happen in both places because the European banks are blowing up and the U.S. banks, via massive derivatives exposure, are exposed to the European banks on a significantly leveraged basis.

Not only is QE coming, but Obama is starting to hint at more fiscal stimulas (read: Government borrowing and spending money to employ more public union workers). What I found staggering is that Obama referenced giving Americans money to spend on "thinga-ma-jigs" recently in a campaign speech in Minnesota. (Sourced from zerohedge.com) Obama: "there are some folks here who could use $3,000 a year...Let's get that done right now...it helps you pay down your credit cards...maybe someone will replace some thinga-ma-jig for their furnace." Truly staggering. Here's the video link: LINK

So Big O is basically floating a trial balloon for initiating some kind of program to stick $3,000 in the pocket of each household in order to pay down credit cards and buy thinga-ma-jigs. I wouldn't have believed it unless I saw the video myself. Half of the population in this country lives in households that get Government benefits: LINK More troubling, the number of people who actually pay taxes now is less than 50%. So what Obama is proposing is to take money from those who pay taxes and give it to everyone so they can pay off credit cards and go shopping. Think about that for a bit...

The Obama's have stooped to new lows in their quest to squeeze campaign money from the public. Someone who voted for Obama and will probably vote for him again forwarded an email she got from Michelle Obama announcing the new campaign. She prefaced it with, "this is kind of low for them, don't you think? A presidential raffle?" Here's the email:

Sarah Jessica Parker is a loving mom, an incredibly hard worker, and a great role model. She's one of those people you can't help but admire. Barack and I are thrilled that we're invited for an evening at her home in New York next week. And I'm hoping you'll be there, too, along with whoever you'd like to bring. Tonight at midnight is the deadline to enter. Chip in $3 or whatever you can to this campaign, and you'll be automatically entered to win -- airfare and hotel included: LINK Thanks for all you do for Barack, Michelle

So Michelle is out soliciting campaign contributions in exchange for the donor being put in a raffle to be flown to NYC and join Sara Jessica Parker in fund-raising dinner for Obama. This really horrifies me.

Make no mistake, I'm not a Romney supporter. But Obama has taken the U.S. Presidency to a new low. Not even Clinton, who barely had a pot to piss in before he entered the Oval Office, was this petty.

If you want to take Obama's "thinga-ma-jig" speech full circle, you could actually see where he sends every household $3,000 as part of a stimulus package and those who support him contribute part of that to one of Michelle's lottery raffle fundraisers. Campaign financing taken to a new level of creativity. I can't wait to see Romney raffle off a planet to the highest bidder in a campaign fund-raising effort...

11 comments:

HalMonday, 04 June, 2012
And I thought it was a pot luck dinner...

If I got Obamabucks --3000 of them--I'd go buy myself a new hand gun and a new shotgun. Actually, additional hand gun and shotguns, People are gonna be pissed when this handout society does not last forever (unless you are TBTF).
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JDMonday, 04 June, 2012
We are living through interesting times for sure. I swear its like a twilight zone episode.

At least AUMN has broken out today. Considering the market action it is a huge relief to finally see some buyers finally coming back into this beaten down stock.
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BrianMonday, 04 June, 2012
I can describe what it is that Obama does. In two words. If you can't get re-elected on your record and substance...

"Buy votes" with 3000 dollar promises.

Government...seizing your money and then bribing you with it. Pathetic.
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AnonymousMonday, 04 June, 2012
Hey Dave,

Mitten Mommy could auction-off non-allocated call options to the local stakehouse. I would not suggest going, since if the 'winners' attended, they would certainly end up upon the menu (along with old mutton made from the rest of the sheeple).
imho
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JDMonday, 04 June, 2012
Anyone who was shorting AUMN the past few weeks is getting what they deserve today.

TORCHED!
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AnonymousMonday, 04 June, 2012
(Quinn, Littleton)

Jumping the shark didn't work for Happy Days and it won't work for Obama.

Those that sacrificed for our country are disgraced by this. Sad day America!

http://www.youtube.com/watch?v=MDthMGtZKa4
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AnonymousMonday, 04 June, 2012
Nearly 90% of the 550,000 Americans who gave $200 to Obama's 2008 campaign haven't re-upped this year. It's disgracefull really whatever happened to the change we can all believe in. Could it be that the dream did not include death by drone attack on Presidential decree for citizens on US soil. Obama is here to lead us back to feudalism with an absolute monarchy financed by a Talmudic scholar. Sounds like the Vatican under the Borgias. Surely this is the change we can all believe in?
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AnonymousTuesday, 05 June, 2012
Don't worry Romney is going to win and the 64 million US households that live on food stamps are going to see a trillion in cuts in the first year. The mathematics show that the food allowance per meal will fall from $ 1.58 to $ 0.54, pellegra and rickets will come back and the US will make UN statistics as a third world country. More change you can believe in.

A recent survey on US poverty showed that the slaves in Rome where better fed than the welfare poor in the US. Under Romney there will be cues lining up to sell themselves in to slavery. More change you can believe in.
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AnonymousWednesday, 06 June, 2012
Actually Romney did this same kind of raffle thing a few months back, so it's not a big deal. If the internet were as pervasive as it is today Clinton and every other candidate in elections past would have done the same.
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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.