Wednesday, February 29, 2012

Ron Paul Brutalizes Bernanke

Some of the highlights are when Ron Paul asks Bernanke if he does his own grocery shopping.   Bernanke says he does, which I don't believe.  Paul also explains that the Fed is lying about inflation.  So I'm not the only one calling Bernanke a liar.  Then Ron Paul holds up a 1 oz. silver eagle and goes through the same exercise with gasoline that I did with oil on Monday to illustrate why silver/gold is real money that holds its value over time (video sourced from zerohedge - my only complaint about Ron Paul is that he has an opportunity to really hold Bernanke's feet to the fire in this forum twice a year and instead lets Bernanke escape without having having to directly answer the criticisms or pressing Bernanke for truthful answers):


  1. Well said esp on the issue of not letting Bernanke go on record.

  2. who ever they are - and i think governments are involved. they will be successful to crack this egg so this golden yoke will spill.

    three very big reasons
    1 because hoarding it is not patriotic and could be seen as disobedience.
    2 owning it (gold) you become a saver - not good for the economies
    3 you are saving outside the system


    so - they have access to everything including making up the rules of the game as we go along.

    this must be the worst time since the bull started and they will chuck absolutely everything at it to kill it.

    when the fuck will we get an 80 move up instead of down? could someone also tell kingworld to stop parading Embry - he is useless and goads me with his crap of comments like "religious experiences". the bears are certainly giving us one.

    absolutely disgusting. and all this physical metal is returning to cmi.

    jim willies and the like about their insiders and "well placed" informants and bullshit.

    1. Get a grip...they took it down to discourage delivery. Also end of month numbers won't have people wishing they got more aggressive (BEHAVIOR MODIFICATION).
      Don't like embry?...try Jean-Marie Eveillard

      The other day somebody pointed out, and I have not checked the numbers, but somebody stated that over the past three to five years, the top five central banks in the world have increased their balance sheets by 70% of all of the gold mined over the past 3,000 years.

      To me if it’s true, and it doesn’t matter whether it’s three years or five years, it’s mind boggling. To me it indicates central banks have been truly desperate over the past three to five years.

      They (central banks), of course, have been trying to offset the leveraging of the government debt. They have been trying to stabilize matters because of the tremendous decline in the private sector. They have been trying to avoid a return to the Great Depression.

      But as the Austrians (Economists) like to say, ‘If you were stupid enough to let a credit boom go on too long, then once the credit cycle turns, which it did in 2007 and 2008, you have to be careful not to try to patch things up in the short-term. Stabilizing the short-term causes tremendous danger to the medium and long-term.’

      So with all of this as the backdrop, I wouldn’t worry too much about what happened today with gold and silver.”

      with all the corruption people should be running to physical...

      NYT: No Criminal Case, But MF Global May Possibly Face a Fine of Up To $140,000

    2. I removed the partial hedge on our silver bullion today that I put on on Tuesday. Also reloaded partially some of the positions I took profits in earlier this week. I'm sure I didn't buy the bottom, but we still have lots of cash to put to work and I'm actually hoping for another smack tomorrow or Friday to put on some illquid juniors I've been tracking...these manipulated hits are gifts, just like they've been for the last 10 years.

  3. Dave I wish Paul would have drilled him but it seemed more like stumping to me. It was good but a missed opportunity to let this guy squirm. Tonight he is smiling with the big hit in silver and gold today too.

  4. MF Global White Knight Blows the Lid Off of The JP Morgan Shadow Banking Mafia

    from CapitalAccount:

    US regulators are holding roundtable talks today about how to protect customer’s money. To keep it from basically being stolen. This is in the aftermath of the MF Global collapse of course. We’ll speak to a lawyer by the name of James Koutoulas who represents 8000 MF Global customers in the bankruptcy. He says new US regulations won’t stop firms from going the way of MF Global so long as they can go to the UK to take on virtually unlimited leverage. He tells us how MF Global was getting around the US leverage limits this way, similar to AIG in 2008, and why it’s going on unchanged. We will talk as well about re-hypothecation, and how “churning” allows brokerage firms to leverage up like banks.

  5. Sinclair: Today was a Cover-Up By the Fed & Mainstream Media

    Jim Sinclair continues:

    “If, in fact, what Bernanke attempted to tell the investment world today, that QE may not be necessary because of a modest improvement in the statistics of unemployment, if that was truly to be believed, then the stock market should have been off 800 points while gold was gold was down $100. Because the same thing moving the stock market is what’s moving the metals and that is pure liquidity.

  6. Clark from Old HickoryThursday, 01 March, 2012

    Dave -- I agree that RP's comments are wonderful to hear, but my lawyer self wished he'd just ask a question, as you imply. I miss Alan Grayson for his forensic skills. Still, it's worthwhile that RP is asking the right questions that, at some point, the Fed will have to answer for. I've now placed a 1961 Franklin half in my wallet, just in case someone asks just why the Fed is a sham & a scam. Guess I'll be one of those irritating old men, pulling out his wallet to prove something that should be obvious.


    By Alf Field

    What happened to gold on 29 February 2012? The precious metal dropped from $1792 to a low of $1686 in one day!

    How does this shape up with our Elliott Wave expectations?

    The answer is that the market is tracking well in line with expectations.

  8. Failures Continue To Show Dramatic Asset Overvaluations

    For all of 2011, the FDIC estimated it would cost $7.18 billion to protect the combined $32.06 billion in deposits at the 92 failed banks. That means the FDIC estimated the market value of all the failed banks’ assets to be about $24.88 billion. Comparing this number to the reported asset values, the indication is that bank management overstated asset values by $11.09 billion, or 45%.

    There is every reason to believe that over-valuations of this degree prevail throughout the banking sector and are not limited to this group of failed institutions. Almost all of the banks that failed in 2011 had been under close scrutiny by their federal regulators for a significant amount of time prior to their failures. It is reasonable to infer that under such close scrutiny, bank management would not have been emboldened to value assets more than permissible under current FASB standards.

    If we assume that overvaluations of even half this level – say 20% — prevail throughout the banking sector, there is barely a single institution that would remain solvent were its assets valued at market. This is one more reason to believe what we read constantly on this site, that QE to infinity is the only option for Western Central Banks and there will be no end to the flood of liquidity any time in the foreseeable future.