Financial Notes 2


Financial - May 22, 2011



Ed Steer's Gold & Silver Daily December 14, 2011 (pdf)

Richard Russell: "The preferred position is no stocks, gold, and 10 ounce silver bars, with some cash for practical purposes. We are headed for uncharted waters and in time all central bank created currencies will be crushed. Gold is the only currency that is not someone else's liability, and it should be accumulated....The ease with which the Dow cut through the 12,000 level and back into the 11,000 area was I thought ominous. Instructions: Be out of ALL stocks including mining stocks if you've not done so already. As I see it, the bear market is now continuing from where it left off in 2009. I expect the Fed to start printing again within the next few months. I see major danger ahead and a further collapse in housing prices."

Grover Norquist: "I don't want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub."

The S&A Digest, December 9, 2011

"Just wanted to comment on Corzine. He's lying. He knows exactly what happened to that $1.2 billion. It's called re-hypothecation.

"Both U.S. and U.K. securities laws allow customer assets pledged as collateral (as in margin accounts) to be re-pledged by brokerage houses for their own accounts. U.S. law places a limit on the percentage of customer assets that can be re-hypothecated. However, U.K. law has no such limits. Therefore, most international brokerage houses transfer these pledged securities to their U.K. subsidiaries where they are used as collateral for loans to the brokerage house. By hypothecating, re-hypothecating, and re-re-hypothecating, etc., these securities get leveraged to about four times their value.

"MF Global pledged these securities to get loans to make their big Euro-bond bet. When that bet went sour, the securities were taken by the banks that made the loans to MF Global. All perfectly legal. But now, MF Global customers are just unsecured creditors to a bankrupt MF Global. The banksters win again."

The S&A Digest, December 6, 2011

The Federal Reserve has it nearly impossible to make a living off your savings (or compound them safely). Thanks to the Fed's manipulation of interest rates, anyone who chooses to simply save money is going to lose a lot of value.

The Bureau of Labor Statistics announced the latest Producer Price Index numbers this week. They showed prices have risen 6.8% over the last year. Savings accounts are paying less than 1%. So if you had $1 million in the bank, you lost roughly $50,000 in value last year. You'll go broke fast if you can't earn at least as much as inflation on your savings.

We will never understand why so many mainstream economists believe stealing from savers this way to reward people who borrow makes for a better society. I don't believe a word of it. It's just a sophisticated form of socialism.

In any case, if you're interested in safely compounding your wealth or living off your savings, you must adopt a few slightly more sophisticated strategies, which I'll detail below.

First though, a word about the importance of saving. If you can teach your children one thing about money, it should be teaching them how to save and why it's important to do so. Share this example with them… and ask, "Who will end up with the most money at retirement?"

Saver No. 1 is a hard worker who understands the value of time and the importance of saving. He gets a job at age 16. Each year, he saves $2,000 – roughly 250 hours of work at minimum wage. That's roughly six weeks of full-time work in the summer, or 25 weeks of part-time work (10 hours per week) during the school year. Either way, it's not an unrealistic amount of money for an enterprising 16 year old to earn, while still having plenty of money for current spending.

Saving $2,000 per year becomes a habit, and Saver No. 1 does it every year. Even after he begins his career in his mid-20s, he simply continues to set aside $2,000 per year. He invests these savings in a conservative way. He opens an IRA account so his investments won't be taxed. He puts 40% of his savings into short-term, highly rated corporate bonds. He puts 40% of his savings into high-quality "dividend growing" stocks. And he puts 10% into gold. Simple.

His portfolio only produces modest returns. Over time, he earns about 8% a year – mostly by reinvesting his dividends and interest payments. He's not worried about getting "rich." He's just saving his money. And it's easy because he never saves more than $2,000 a year. He has plenty of money to spend on things he needs and wants – but he always remembers to save first.

By the time he's 40 years old, he's contributed $48,000 in savings to his portfolio. At that point, he calculates that if he continues to earn 8% a year on this portfolio and reinvest all of his dividends and interest, he'll have plenty of money for retirement at 65 years old. So at age 40, Saver No. 1 stops saving money. He's now free to spend all the money he makes for the rest of his life.

Saver No. 2 doesn't learn to save as a child and doesn't even get a job until after college. By that time, he's so busy buying things – cars, vacations, dinners at nice restaurants, clothes, houses, etc., he never can "afford" to save a dime.

He wakes up at age 40 and realizes he doesn't have anything in the way of a retirement fund or really any liquid savings at all. So he begins to save, and he does a great job. He's putting away $10,000 per year, every year. He knows he's got to play "catch-up." Like Saver No. 1, he invests conservatively and earns 8% a year. He reinvests everything, like Saver No. 1. By the time he turns 65 years old, Saver No. 2 has contributed $250,000 towards his retirement.

Guess who has a bigger portfolio at age 65? Is it Saver No. 1 who never contributed more than $2,000 per year and whose savings totaled $48,000 in his lifetime… or is it Saver No. 2, who saved more than five times as much money initially?

At age 65, Saver No. 1's portfolio is worth a bit more than $1 million. Saver No. 2's portfolio is worth $800,000.



Quants: The Alchemists of Wall Street



AIGFP’s Massive Short Position In Commodities (which now belongs to the government)


The Exchange Stablization Fund And Its History (Part 1)




Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15

by slow_roast
on Sat, 06/18/2011 - 15:58

Just to point out something that another member of this board pointed out on another post, Everbank lets you link a checking account to a Forex account and literally hold your money in foreign currencies; you can swap them back to USDs as needed. They have have the CNY which is extremely unlikely to depreciate against the USD since the 'munnists have it tethered.


41% Of Belgian Central Bank Gold Has Been Lent Out 6/20/2011

by I_ate_the_crow
on Mon, 06/20/2011 - 19:13

It must be nice to consider monetary policy in a vacuum and assume that "freegold" is the answer to all of our problems.

So we need a division between store of value "money" and medium of exchange "money", eh? So after hyperinflation, gold floats freely in the economists' perfect market whereby an equilibrium price is established and people use the inevitable paper derivative as a medium of exchange and convert salary or whatever portion of it they want to carry into the future as physical savings at the prevailing market price for gold? Brilliant! (If you ignore history, politics, the legal system, and most importantly, the integrity of central banks).

First of all, I love how the Austrian school of economics is now viewed as de facto correct because it identified the absurdity of Keynes' ideas. The uncomforting truth that must be realized is that all economics is pseudo science. It's all bunk, based on rational behavior, which doesn't truly exist. Basic micro supply and demand is still useful but the economics profession has been a joke for a long time now, wholly complicit in the current fraud. Just like bankers, economists should go out of the governing business.

"Gary wants to divvy up the gold and then inflict Freegold. If you cannot see the disaster that this is, I don't know what to say to you. All to take power away from the central banks? This is the mistake. It is not their fault. As Greyfox said, “We have met the enemy and it is us.” We are at fault, for saving in promises. We give THEM power."

This is the dumbest thing I have ever read. It ignores the fact that the money changers have captured the entire financial, political, legal, regulatory and media structure of the western world. Central banks and the governments they control have suppressed the price of gold for years now, and it is unbelievably naive to think that "freegold" would somehow stop them from coming up with a plan to manipulate the price via the supply of gold again in the future. That idea is slightly less absurd than Ron Paul's "competing currencies" idea. FOFOA thinks, with social disorder accomanying hyperinflations, that freegold will be possible? I'm curious, how does the Patriot Act or matial law factor into this theory?

Honestly, I find all the debate between hyperinflation/deflation and gold standard/freegold to be ludicrously pointless. To me, it seems like most involved just want to be able to look back and say "look how smart I am, I told you so." Regardless of who ends up being more semantically accurate, one thing is certain: bankruptcy of the debt-based western economic system is coming to a nation state near you. Buy some physical silver and gold to protect your purchasing power and hold physical cash for the coming global liquidity crisis that will precede the greatest depression of all, the end of the keynesian exponential growth model and implosion of an 80 year debt-bubble. Absent a revolution in the USA nothing is going to change this outcome.

As we all know, the power resides with those who control the money supply. Private central banks must be eliminated. Debt-free money issued by the government is the only viable solution to true medium of exchange "money", and if FOFOA had any patriotic bones in their bodies, they would spend their time examining that issue rather than convincing people that some magical freegold inevitability will solve the world's monetary problems. If the central banks control the currency, even if it’s gold, it will be subverted, guaranteed.

FOFOA's thinking is obviously much more elegant than mine, though, so I probably shouldn't have even bothered with reading and trying to comprehend its genius. Get real! By all means, we should all have some gold for the reasons stated in this post. Just spare me the freegold standard gibberish, as well as the argument that it will be any different than any other gold standard throughout human history.

“If they dare to come out in the open field and defend the gold standard as a good thing, we shall fight them to the uttermost, having behind us the producing masses of the nation and the world. Having behind us the commercial interests and the laboring interests and all the toiling masses, we shall answer their demands for a gold standard by saying to them, you shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold”

-William Jennings Bryan


by gwar5
on Mon, 06/20/2011 - 18:30

History repeats...

The jig was up for John Law who was printing French notes (btw 1715-1720) at a premium over gold coins under the Royal Charter. The ZH types of the time noticed that someone had trouble redeeming the notes back into gold coinage one day, so it began to unravel, slowly at first.

The ZHers of the day stealthily acquired gold, other items of value and got them oout of the country before the scam became widely known and it unraveled.

Sure enough, gold was suddenly banned, confiscated, and Royal agents were searching all traveler's bags leaving the country (TSA -- in 1720), but the gold confiscation didn't work and only lasted months.

It's amazing how the scam hasn't changed a bit in 300 years.



The Communists Have Taken Over The Acropolis (ZeroHedge, 6/27/2011) (pdf)

by redpill
on Mon, 06/27/2011 - 13:19

It's pointless theater at this point, unfortunately. As will be the vote, which will pass. But even if it didn't, it wouldn't matter. The die has been cast for Greece, her path has been chosen for her, and she no longer gets to pick it herself. Even with mass PASOK defections and a failed austerity vote, the EU bankers will ensure this is not the end. This is not Iceland, they are much more well entrenched in Athens. Loans will be extended, rolled over, whatever it takes, to make sure the Greeks stay under a crushing load of debt for many generations to come. This is the first of a long line of planned financial slavery camps.

When they finally get the Greeks settled and get them making interest payments as large as possible without revolution on a debt so large that it will never be paid off, they will considered them conquered. The citizenry will capitulate as they grow weary from fighting what appears to be an unwinnable contenst, and they'll return to work and slowly get every last drop of blood squeezed from them every day to service their PERPETUAL debt.

Now people should finally start to see the plan. It's a plan for every country, not just Greece. Perpetual, and unimaginably large debt that will never go away and can only barely be serviced. Paycheck-to-paycheck governance, which by its dependency on the "good graces" of international bankers, will perform their beck and call at the drop of a hat.

Greece is already lost. Will people learn from it? Will they have to see the same thing happen in Spain, or Portugal, or Italy? Or will we sit and watch the bankers perform a blitzkreig across Europe with debt instead of tanks?

by toto
on Mon, 06/27/2011 - 13:34

To much negativity.

Have faith in the real humans.(the ones that still live).

With love from greece.

by redpill
on Mon, 06/27/2011 - 13:39

What you call negativity I call realism. But I do wish it weren't so.

Ironcially, the Chinese may wind up being the spoilers here for the EU bankers, rushing in to take a short term hit in order to get a solid financial foothold in Europe. The Greeks will be made financial slaves either way of course, but I suppose there may be some who find the soap opera of macro-Machiavellian intrigue between the financial East and West to be an interesting narrative.

by The Fonz
on Mon, 06/27/2011 - 13:56

Then I shall grant your wish. 3800 times in history fiat money has failed. In most instances those who took that money to failure lost their power. History has few lessons as conclusive as this. You sir, may consider it certain that the banks will fail, and that Greece will regain her sovernty.

This system is not in equilibrium, it is like a pile of sand that is stable until that last unlucky grain... then it all slides.

by SecondComing
on Mon, 06/27/2011 - 14:13

I see someone is familiar with the Bakian concept of self-organized criticality.

You know, many complexity theorists argue that Bak's sandpile model is a heuristic for understanding macroevolutionary saltations.

Oh, to be that one. last. lucky. precipitating. grain of sand.

by The Fonz
on Mon, 06/27/2011 - 16:17

Thank you for the complement. Ironically however I was not familiar with Bakian complexity theory about self-organizing criticallity. I'd picked up the notion from Taleb in "Black Swan" somehow. :) I have now read the wiki entry for this idea and thank you for exposing it to me :)

by redpill
on Mon, 06/27/2011 - 14:30

Ah but in most of those times, the failure has come at an intersection of armed conflict with another civilization. Today, humanity is dominated by fiat currencies, any change in regime today is a switch from one type of fiat to another. The world is run with debt-backed money, and those in control will not allow a return to real money that they cannot manipulate.

by Fiat2Zero
on Mon, 06/27/2011 - 14:50

You are looking at the wet sidewalk and concluding it causes rain.

Currencies go to zero due to a loss of confidence, period. Loss of confidence may be caused by many things, among them, a crushing debt load which convinces people debts will not be repaid.

Another obvious reason is conquest. If you are about to get taken over, you won't be paying taxes in the local currency anymore.

Bankers will find out they are outnumbered. They will be lucky to escape with their heads attached to their necks.

People can't be made to be confident in paper. A loss in confidence of one type of paper is contagious to all other fiat currencies. Therefore, all fiat will burn. It will be replaced by something not infinitely printable.

In time, people will forget, and the ponzi will start all over again.

This is as it has been since people have been.

by redpill
on Mon, 06/27/2011 - 15:07

Each time and time again has been a trial run, getting them sharper each time. That's why it took so long for the Federal Reserve in the United States. Central banking got shut down time and time again...until 1913. And it's stuck for a century, gaining power all the time, and absolutely will not stand for its own dissolution.

Much the same, international banking interests are not ignorant of the history you describe; quite the contrary, they have learned from it. They understand they must turn country against country, faction against faction, to keep blame unfocused and to keep real solutions from ever attaining a supermajority.

I'd love it if were true, that Greece re-enacts history and resets the system. But you see even if they do, there is no longer any freedom to hide from the large banks, they are global now, and after a short period of chaos would wind up back on the fiat addiction train.

The only way to prevent this from continuing is for the world to stand up and shake off fiat currency, but we are all too cleverly beset on antagonizing each other to ever be united against the ultimate lie of money.

by Mad Cow
on Mon, 06/27/2011 - 15:29

yep, along with the advent of mass brainwashing (TV AND Internet) there is little hope. All those counting on some mass awakening to the truth will be sorely disappointed. The only thing you can count on is mass delusion, always. When the horde runs a certain direction, the safest bet is to run the other way.



Guest Post: The Screaming Fundamentals For Owning Gold And Silver 6/29/2011 (pdf)


by redpill
on Wed, 06/29/2011 - 11:00

The problem is that despite the longer term fundamentals being solid for PMs, it's hard to get a lot of folks to listen when there are huge price swings, paper market manipulation, margin hikes, all of which cause short term losses (in terms of fiat USD, albeit). It's a rough rollercoaster ride.

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by Temporalist
on Wed, 06/29/2011 - 11:15

RP it's mainly because their "financial advisors" make no cheddar on advising PM as insurance. People are convinced that any interest they "earn" on their savings is better than none even if it's actually negative returrns that they don't realize. Even with dividend paying stocks they've been sold on the premise that getting a few percentage points after inflation is ideal without considering the counterparty risk and volatility that a stock has and that the initial investment can plummet or even disappear.

The financial media, Wall St. and central banks have had decades to promote their products and propagandize; it's going to be a long, tough march uphill to change popular opinion.

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by redpill
on Wed, 06/29/2011 - 11:19

I hear you, I can't even get my company to offer a money market option in our 401k plan, much less anything as "extreme" as precious metals exposure.

Our 401k administrator insists that "it's better to offer fewer options so people don't become overwhelmed." And of course the choices are a bunch of crappy mutual funds. What a bunch of self-serving bullshit.

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by HungrySeagull
on Wed, 06/29/2011 - 13:58

Not to mention there is just one 401K administrator making 54 thousand per year managing a few thousand boring 401k accounts that are generally fed by computer deductions off the willing sheep baa'ing as they slave away in the texile factory.

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by MsCreant
on Wed, 06/29/2011 - 11:15

Not so rough if you just buy and hold. I admit I got nervous and studied the 2007, 8, and 9 charts carefully this time and asked "how low can it go?" Knowing the dip always happens at options expiration and summer kept me firmly on the bull.

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by redpill
on Wed, 06/29/2011 - 11:42

Oh I did quite some time ago, so I'm not worried. It wasn't that long ago that I would have never dreamed about complaining about silver in the $30s!

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by Ranger4564
on Wed, 06/29/2011 - 12:12

And when there is the imminent threat of the collapse of all of human civilization on a global level. I own G / ; almost my entire portfolio is in G/ S but I too wonder what the hell is it good for, if the financiers are going to confiscate all real assets and enslave us in feudalism. I do not have the $1mill minimum required to be considered a human being per the Dodd Frank bill / FX determinations. I'll be a peasant, apparently. :)


by Clay Hill
on Wed, 06/29/2011 - 10:55

Still buying every payday B_B.

Shut off the cable, renogotiated insurance and telephone service to free up a little more cash.

Just waiting for G/S of 20-1 to switch half to gold.


by Deo vindice
on Wed, 06/29/2011 - 10:37

The fundamentals have (always) been there. They're just more pronounced now than before. And silver will undoubtedly outperform gold. I expect the ratio to get to the 20-to-1 mark.


by Bay of Pigs
on Wed, 06/29/2011 - 11:29

Yes Dog,

Just like the silver bears (douchebags) who scream "it's off 30%!".

No, it's up 86% yoy....and in a 10 year Bull Market that started before the Iraq and Afghanistan Wars, a Housing Bubble, the Great Recession, TARP, TBTF, QE, QE II, etc....

But I digress...


by DoChenRollingBearing
on Wed, 06/29/2011 - 11:34

^--- All correct observations on this subthread.

NONE of our financial problems have been solved.

NO ONE of significance has gone to jail.

OK, silver has always been a rocky ride, more volatile than gold.

But, in the end, it's going to all be about the ounces, held right there by each of us.


by Sean7k
on Wed, 06/29/2011 - 11:04

The banksters can't make the money they need without volatility. The market is being inundated with news from both sides to create fear and apprehension. The constant chasing of potential returns and profits by all participants could be useful, if they weren't being frontrun.

Thus, you freely give your wealth to the banksters in return for the chance to step up and spin the roulette wheel.

Caught up in the games of wall street, people fail to see the ramifications of policy and law being created around them. They worry about income, but fail to protect their liberty. What value is there in $5,000 an ounce gold, if your are taxed on the profit or limited in your ability to exchange it?

Everything Chris says is true and useful for planning, but what good is it if you must then live in greater and greater tyranny? I for one, would love to see people put liberty first. Don't misunderstand me, the holding of gold and silver are a necessity, but so is the ability to live free and unshackled by the machinations of the Elites.

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by SheepDog-One
on Wed, 06/29/2011 - 11:05

Not me, these degenerate gamblers can talk up their worthless paper stocks and phony markets all they like while I continue to stack gold and silver....they havent gone down for me at all, still weigh 1 oz each.


by Temporalist
on Wed, 06/29/2011 - 11:27

Here is an article about a law to remove the tax on PMs in the U.S.:

Lee: Gold, silver should be treated like currency (pdf)

"Utah Sen. Mike Lee joined with fellow Republicans on Tuesday to introduce legislation that would jettison federal capital gains taxes for gold or silver coins."


A First Step To Sound Money (pdf)

Thanks to GATA (pdf) for sharing these links.



Comment from Salt Lake Tribune article referenced above:


And the rich get richer…It was kind of funny when the Utah Legislature passed a law making gold and silver legal tender and exempting the metals from state capital gains taxes. ( Now that Senator Mike Lee has jumped on the bandwagon and suggested that gold and silver should be treated as currencies and exempted from federal capital gains taxes, we have to stop giggling and talk about why this is a serious issue – and a seriously misguided idea. ( First, while it’s a nice sound bite to say that the U.S. dollar has lost 98% of its value since the Federal Reserve was created in 1913, the implied causal relationship is silly. U.S. inflation from 1913 to 2010 is a fairly staggering 2,182% but it’s a safe bet that inflation over those 87 years hasn’t been caused by the Fed. It’s worth noting that in 1913 – Senator Lee’s year of choice probably because it is the year the Federal Government started maintaining inflation data – gold cost $20.67 per ounce. It is currently worth about $1,500 per ounce. Using the same 1913-2010 rate of inflation, gold should cost about $472 per ounce today. Thus, gold’s price has inflated far more significantly over the same period than the U.S. dollar. Second, gold’s price is, of course, market driven. That market is driven by supply and demand coming from governments, investors, speculators and a host of market players. Gold is worth what the market says it is worth simply because the market says so. There is no intrinsic value in gold that says it will retain value or deserves to be a certain value.Gold prices, of course, fluctuate – up and down. Gold is no more of a one-way street to profit than the misguided notion that housing prices could only go up. In fact, in 1980, gold traded at over $612 per ounce before dropping back to $272 per ounce in 2001 – a fairly staggering 55% loss of value. Of course, that also means that gold is up approximately 450% from 2001 to 2011. We dare say, though in something of a death spiral, the dollar’s value has not eroded nearly as fast as gold prices have risen in the past decade.Third, the message of treating gold (and silver) like currencies and exempting them from capital gains taxes is a bit of a misnomer. (We assume that losses would similarly be exempt from tax benefit but Senator Lee hasn’t made that clear.) The simple fact is, when you buy and sell a dollar, there is no gain or loss. Leaving inflation aside, a dollar is worth a dollar. However, if you happen to like Euros, go buy some Euros with dollars and when you sell those Euros, you’ll have a gain or loss. There is no currency exemption from capital gains. If you invest your dollars in an interest bearing account at your bank, your dollars are on deposit and that interest is subject to ordinary income taxes. If you invest those dollars in U.S. Treasuries, any interest received will be taxed and any capital gains or losses will be recognized. There simply is no currency exemption from taxes as Senator Lee suggests for comparative purposes. The only way to avoid taxes on holding currency is to hold it in a non-income bearing or tax-exempt (e.g., municipal bonds) instrument. So why should gold be any different? Fourth, who is this proposal intended to serve? And who, perhaps, might actually be ill-served by such a policy? Once jewelry is eliminated, most gold is owned – directly or indirectly - by governments, central banks, investors and speculators. The first two don’t pay taxes. The third and fourth, therefore, are the beneficiaries of the exemption of gold (and silver) from capital gains taxes. How many middle class Americans own gold and would benefit from this favorable capital gains treatment? Exactly! To put an even finer point on this, consider this. John Paulson, one of the world’s most successful hedge fund investors who made billions betting on the collapse of the housing market, now allows investors to buy his hedge funds in, you got it, gold! So the logic of this proposed capital gains exemption suggests that if you hold your “currency” in gold, and invest that gold in a Paulson hedge fund, and redeem it later also in gold, you would recognize no capital gain! We revert to the title of this entry – the rich get richer…But who is most ill-served by this policy? Well that would be those very same middle class Americans who don’t own gold. And why are they ill-served? Well first, of course, they suffer the further erosion of the tax burden paid by the wealthiest Americans who now, along with historically low tax rates, will pay no capital gains taxes on their gold and silver holdings. And second, what Senators Lee, DeMint and Paul, and their kindred spirits, are really saying is that the dollar is in trouble and the world shouldn’t have much faith and credit in the United States Government’s ability to repay its debts and to honor the value of its currency. (Note Lee’s comment in the Tribune article: “he hopes will encourage a change in the nation’s monetary system.”) It may well be that the era of the dollar as the reserve currency of the entire world is coming to an end but to suggest that the full faith and credit of the United States of America isn’t worth the paper it’s written on (cause hey, since Richard Nixon released us from the gold standard, that’s what backs the value of the dollar!), seems like a pretty big stretch. Or maybe with that August 2nd debt ceiling deadline approaching, a U.S. debt default would allow Messrs. Lee, DeMint and Paul an “I told you so” moment at an untold cost to the U.S. taxpayers.

Chris Lovato 18 hours ago in reply to ABU

ABU your fundamentally wrong on one point. Capital Gains tax on Gold and Silver are wrong. they don't increase in value like equities. gold and silver only increase when currencies weaken. the world economy has treated them as money for hundreds of years. so to see gold and silver rise as much as they have in the last year has nothing to do with an increase of value but the decrease of the dollar.

The Case for a Genuine Gold Dollar (pdf)

You may laugh at this initiative but it may likely be the very thing you will be the most grateful for in the coming years. If the Fed is so great whats wrong with giving them a little competition? freedom to trade in what you want is your right. it's time to end the Feds money monopoly!


bombing6 1 day ago
Amazing ignorance. Have you noticed the economic crisis that we are now in? It's not going away until the cause is swept away. Fiat currencies and sovereign debt is at the center of it.
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poster47 1 day ago in reply to bombing6
You're right. Corrput governments waging endless and unwinable wars, the lowest taxes in history and corporate control over most government officials in most countries has absolutely nothing to do with it.
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soundmoneyplease 23 hours ago in reply to poster47
You couldn't be more CORRECT!!! Those "endless and unwinable wars" were financed via a fiat currency system, read "endless money supply"!!!!

If money were finite, visa vis a gold standard, the government would have to tax the citizens to pay for war. An unpopular war would then cause the incumbent to be ousted. On the other hand, a war worth fighting (truly in the naiton's best interest) would generate enough patriotism for people to voluntarily contribute to the cause through taxes.

This applies to WELFARE too. (for all the neo-cons reading this)

That is the essence of real democracy.

Finite money means FINITE government, whether that government, read Tyrrant, is defined by SOCIALISM or FASCISM.

These days, that is your choice, SOCIALISM or FASCISM, read CNN or FOX News.

Where is the independent thought?
 Precious Metals Market Report 12/13/2012

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