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Don't know if anyone has mentioned Zeitgeist in previous posts. Great film about a lot of common misconceptions. Thoroughly recommend checking it out
Don't know if anyone has mentioned Zeitgeist in previous posts. Great film about a lot of common misconceptions. Thoroughly recommend checking it out
NEW HAVEN -- There are, it seems, only two major issues that have a set time frame for political brinkmanship between the White House and Congressional Republicans. The Bush tax cuts will make for an interesting election-year dynamic when they expire in two years. Well before that, however, the president will have to persuade GOP leadership to ignore Tea Party insistence and allow for the country's debt ceiling to be raised.
That issue is set to come to a head this spring. So far the administration has been (or perhaps just expressed a sense of being) self-assured that the ceiling will be raised, but on Sunday its rhetoric was noticeably sharper.
Appearing on ABC's "This Week," Austan Goolsbee, the chairman of the Council of Economic Advisers, laid out the fairly alarming implications of the United States defaulting on its obligations while asking the question: What type of insanity would persuade us to do this?
Via: Zero Hedge
When Nassim Taleb and Marc Faber say that US government debt is a suicide investment, one can be allowed some skepticism. After all, they are likely just talking their book. On the other hand, when the manager of the world's biggest bond fund, whose flagship fund Treasury holdings amount to almost $80 billion goes on Bloomberg and says to "avoid dollar-denominated government debt" better known as US Treasuries, and instead recommends viewers invest in "stable" currencies like the Peso, the BRL or the CAD, then you know the bottom in bonds is in. So in addition to dumping fixed rate bonds (which means Pimco will again be able to buy on the cheap ahead of QE3, which as Larry Meyer has by now likely advised Pimco is a sure thing), Gross also told Bloomberg that his other two strategies are to buy floating rate debt (over fixed), and lastly recommend credit spreads over interest rate duration risk. For those who find something troubling with a $1 trillion fixed income manager talking down his investments, and are still wondering whether or not QE3 is coming, we suggest putting one and one together. And while at it, they should also consider that Pimco now holds over $100 billion in MBS: a notional amount last held just as QE1 was announced. CLICK ON THE ORIGINAL SOURCE TO VIEW VIDEO.
by Egon von Greyerz
We now live in a world where governments print worthless pieces of paper to buy other worthless pieces of paper that combined with worthless derivatives, finance assets whose values are totally dependent on all these worthless debt instruments. Thus most of these assets are also worth-less.
So the world financial system is a house of cards where each instrument’s false value is artificially supported by another instrument’s false value. The fuse of the world financial market time bomb has been lit. There is no longer a question of IF it will happen but only WHEN and HOW. The world lives in blissful ignorance of this. Stockmarkets remain strong and investors worldwide have piled into government bonds in a perceived flight to safety. Due to a century of money creation (and in particular since the 1970s) by governments and by the fractal banking system, investors believe that stocks, bonds and property can only go up. Understanding risk and sound investment principles has not been necessary in these casino markets with guaranteed payouts for anyone who plays the game. Maximum leverage and derivatives have in the last 10-15 years driven markets to unfathomable risk levels, with massive rewards for the participants.
In the meantime central banks are cranking up the printing presses but as Bernanke recently said quantitative easing is an “inappropriate” description of what should be called “securities purchases”! Who is he kidding? What the Fed is buying has nothing to do with “securities”. There is no security whatsoever in the rubbish the Fed is purchasing. They are buying worthless pieces of paper with worthless pieces of paper. This is the Ponzi scheme of all Ponzi schemes.
Let us be very clear, this financial Shangri-La is now coming to an end. The financial system is broke, many western sovereign states are bankrupt and governments will continue to apply the only remedy they know which is issuing debt that will never ever be repaid with normal money.
So why does the world still believe that the financial system is sound?
Complete Original '07 Zeitgeist With 2010 Updates by: Peter Joseph
http://www.youtube.com/watch?v=guXirzknYYE
You could also consider an opposing argument to that youtube vid.
You could also consider an opposing argument to that youtube vid.
James Turk - Gold & Silver Shorts are Losing Control
With silver hitting new 30 year highs and gold assaulting all-time highs, King World News interviewed James Turk out of Spain. When asked about the action in both gold and silver Turk stated, “Just like last year, the metal prices are going to continue higher. It really doesn’t surprise me that both of the metals are in the process of taking out their previous highs, both gold and silver remain relatively undervalued. Gold and silver are the pinnacle of money and this is becoming increasingly apparent to investors around the world.”
The European source commented, “This deal has been floating around for a while, but I think this time it is going to happen. It’s in his backyard. This is the world’s richest man wanting to get into silver.”
I view this as the only way for the richest man in the world to enter the silver market at this point in terms of any scale, is that your take as well?
“Yes, I agree with that. Let me just add that when he buys into it (Fresnillo) he will have the leverage to silver he is looking for. There are very few ways to get into silver with the amount of money he has, this is the most likely option at this point. He has to pay a hefty price or otherwise the deal will not happen. It is beginning to look like the longer he waits, the more he will have to pay. It is a bull market and things to tend to get more expensive, not less.”
Gerald Celente forecast for 2011
Gerald Celente: What's in store for 2011 (Top 11 trends for 2011)
Crash JP Morgan buy physical silver and SUE them!
davincij15 | December 27, 2010 | 51 likes, 0 dislikes
Cafferty Faucher LLP Files Class Action Lawsuit against JPMorgan and HSBC Alleging Manipulation of Silver.
Also to Bar Silver Financial Products
http://finance.yahoo.com/news/Cafferty-Faucher-LLP-Files-bw-269549129.html?x=0&.v=1
if you take advice from this guy you deserve everything you get, ill laugh at him when he panics to sell his physical metal
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