Higgenbotham wrote: I've always felt that the perfect analogy to the 1970s would be for silver to move to almost 3 times the level it achieved in 1980.
In the 1970s gold went from $35/oz to $800/oz. I think the perfect analogy to the 1970s would be for silver to go from $35/oz to $800/oz. 1/2
Now 100% short on the Osama news. My average entry is 5 S&P points under the current price (that means I'm under water on this trade).Higgenbotham
I'm with you. Friday had order in @ 1362 which was filled at the run up at close. Felt pretty good until the Sunday night when the market spiked, and hadn't heard the news of OBL. When I found out what caused the spike, kept thinking of "buy the rumor, sell the fact".
John writes': "The only possible explanation for such ubiquitous debauchery is generational. There's no other way that it could have reached every corner of every financial and real estate organization, except in the contemptuous attitudes of greedy, nihilistic Generation-Xers, perpetrating fraud right under the noses of their greedy, incompetent Boomer bosses, who condoned the crimes because they also gain. This lethal combination of Gen-X nihilism, combined with Boomer incompetence is what got us where we are.
And it's far from over. The same people are still in the same jobs, adapting to new laws, and figuring out new ways to defraud. Banks still have on their books many trillions of dollars of toxic assets that haven't been marked to market, meaning that quarterly statements are still defrauding investors. And bankers are charging usurious 30% interest rates and using the money to pay themselves million dollar bonuses, which they believe that they deserve, since they've been so successful at defrauding the public."
Great stuff, John. Thanks
A excellant example of that is the effort of Brooksley Born. Greenspan fought her and won. He had Summer's and Geitner at his side.
I went back to Frontline again and watched and read about that "Warning " she tried to shed some intelligent light on.
They chewed her up and spit her out. Congress was backing them because they knew nothing about the market and they believed that the "God (s)" knew what they were doing ?
Greenspan since has fessed up that he was wrong . "The market will correct itself " mantra no longer applies.
That was/ is the most compelling truth about the Silent's -V- Gen-X'er's.
The definition of Insanity: Repeating the same behaviours and expecting a differant outcome comes to mind ?
I have often said that ego and power minus moral's and responcibilty is the M.O. of crimminal's and politician's alike.
Greenspan had no idea these young punk's had the ability to ruin him ?
> SALT LAKE CITY (AP) — Utah legislators want to see the dollar
> regain its former glory, back to the days when one could literally
> bank on it being "as good as gold."
> To make that point, they've turned it around, and made gold as
> good as cash. Utah became the first state in the country this
> month to legalize gold and silver coins as currency. The law also
> will exempt the sale of the coins from state capital gains taxes.
> Craig Franco hopes to cash in on it with his Utah Gold and Silver
> Depository, and he thinks others will soon follow.
> The idea is simple: Store your gold and silver coins in a vault,
> and Franco issues a debit-like card to make purchases backed by
> your holdings.
> He plans to open for business June 1, likely the first of its kind
> in the country.
John wrote:Here's an early Christmas present for Vince:
> Gold, silver coins to be legal currency in Utah
> SALT LAKE CITY (AP) — Utah legislators want to see the dollar
> regain its former glory, back to the days when one could literally
> bank on it being "as good as gold."
> To make that point, they've turned it around, and made gold as
> good as cash. Utah became the first state in the country this
> month to legalize gold and silver coins as currency. The law also
> will exempt the sale of the coins from state capital gains taxes.
> Craig Franco hopes to cash in on it with his Utah Gold and Silver
> Depository, and he thinks others will soon follow.
> The idea is simple: Store your gold and silver coins in a vault,
> and Franco issues a debit-like card to make purchases backed by
> your holdings.
Re: Financial topics
by Higgenbotham » Sat Mar 12, 2011 11:45 am
One possibility would be for the business people in the church to establish depositories and issue gold or silver based debit cards that are convertible at any debit/credit card terminal in the state. It's not even necessary to establish a currency in order to do this.
While the periphery breaks down rather slowly at first, the capital cities of the hegemon should collapse suddenly and violently.
CrosstimbersOkie wrote:E-Gold has been providing electronic transactions based on metals for years: http://e-gold.com/
Several have, but I think the distinction is those are transactions between registered account users within the system whereas a legal tender law allows the issue of debit cards as a means of payment for any transaction.
While the periphery breaks down rather slowly at first, the capital cities of the hegemon should collapse suddenly and violently.
