Posted:
#1
Gold steaming, about to crack back over 1000
piss on gold
link
piss on gold
link0
To the moon
Posted:
#5
What concerns me about all of this is how much the central banks have/always manipulate the price of gold.
These iceholes are all in cahoots and want to f--k over everyone else.
But let's face it, with all the bailout packages handed out to cronies, plus the manic printing of paper to mask decades of pitiful central bank policy, the world deserves inflation consistently in double-triple digits------problem is, the common man is the one who will take it up the ying while these crap-head bankers get away with it all.
F-- 'em all.
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Posted:
#8
Quote Originally Posted by gamble04:
Our US dollar is worthless.
Why have Obama and Bernanke failed to come to the greenback’s defense? Why is Washington continuing to spend, borrow and print knowing that by doing so they are, in effect, declaring war on the U.S. dollar?
Simple: THEY HAVE NO CHOICE!
Consider these fact
The U.S. government’s official debt is at an all-time high of $11.8 trillion. Every year, Washington has to make a staggering $335.3 billion in interest payments just to avoid default on that debt. In fact, just the interest on the national debt now equals 12% of all federal spending.
The Federal Reserve is also in hock up to its eyeballs — the liabilities on its balance sheet have DOUBLED — from $1.2 trillion a year ago to more than $2 trillion today.
Most terrifying of all — especially with the first wave of almost 4 million baby boomers reaching retirement age this year — unfunded government IOUs are coming due on Social Security, Medicare, and Federal pension payments. Those obligations are enormous: An estimated $104 TRILLION.
We are now the single most indebted nation in the history of the planet. We owe more to foreign investors, retirees and ordinary citizens than we could ever hope to repay.
And that’s not the half of it: Washington will add an all-time record $1.8 trillion to the national debt, pushing our budget deficits to almost 13% of GDP.
This year and every year for the foreseeable future, Washington will have to borrow 80% of the world’s surplus savings just to pay its bills!
A very dark future awaits the USA.
JMHO
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Posted:
#9
If you still dont' get it. Ponder this.
Did you know that even if every American family could save five percent of their income year after year ... and even assuming every single penny of that savings was thrown into the pot to pay off Washington’s debt ...Each American family — and descendents — would have to pay up for the next 429 years.
And that’s only if no MORE debt was added in the meantime.
This is not a forecast. It is already happening. You can see it in the plunge of the U.S. dollar against the euro, the pound and other currencies.
And you can see it on a very personal level every month as your dolars buy less; your cost of living soars.
The worst part is that this great debasement of the U.S. dollar is still in its early stages.
Washington's deficits, the off the charts borrowing by the U.S. Treasury ... and runaway money printing at the Fed you’re seeing right now all virtually guarantee that the declines in the greenback’s buying power we’ve seen so far are only a dress rehearsal for the dollar disaster to come.
This intentional destruction of our incomes, our savings, our investments and our retirements is far and away the single greatest theft of wealth in human history.
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Posted:
#11
There is no light at the end of the tunnel whatsoever. This latest bear market rally is just that, a bear market rally (that can go on for quite some time). Don't be fooled by it, nor the cheerleaders on TV.
Let's face it, the only way out of the pending financial catastrophe (where all is confessed) is a population purge (likely done by mother nature, as man is too stupid to just stop having kids).
Bernie Madoff, (yes, a scumbag), is probbaly thinking to himself at time in his cell, "damn, these people thought I was bad, wait until social security is declared caput! I won't seem so bad after that one!"
We're screwed, let's face it.
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Posted:
#12
Bernie Madoff, (yes, a scumbag), is probbaly thinking to himself
at time in his cell, "damn, these people thought I was bad, wait until
social security is declared caput! I won't seem so bad after that one!"
---------
agreed 100%. consider bernie only stole a few billion. Goldman through AIG stole 13b.
how much has the federal reserve and its members stolen through inflation since 1913? ||scared.gif' border=0>
---------
agreed 100%. consider bernie only stole a few billion. Goldman through AIG stole 13b.
how much has the federal reserve and its members stolen through inflation since 1913? ||scared.gif' border=0>
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Posted:
#13
Quote Originally Posted by KOAJ:
Bernie Madoff, (yes, a scumbag), is probbaly thinking to himself
at time in his cell, "damn, these people thought I was bad, wait until
social security is declared caput! I won't seem so bad after that one!"
---------
agreed 100%. consider bernie only stole a few billion. Goldman through AIG stole 13b.
how much has the federal reserve and its members stolen through inflation since 1913? ||scared.gif' border=0>
---------
agreed 100%. consider bernie only stole a few billion. Goldman through AIG stole 13b.
how much has the federal reserve and its members stolen through inflation since 1913? ||scared.gif' border=0>
Goldman stole through AIG?
You have to be kidding. AIG wrote the contracts, accepted the premiums, agreed to the terms..they PAID on contracts in which they were obligated.
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Posted:
#14
Correct me if I'm wrong, Koaj, but isn't the job of the FED to maintain a stable currency? Not police the stock market cause Elmer Fudd Greenspan thinks the price of GE is too high, or bail out fools for poor business decisions.
Right on, Koaj......"End The FED."
Saw that on a t-shirt at beach a few weeks ago.
Another one said, "I work hard cause millions of people on welfare depend on me."
I bought "if assholes could fly, this place would be an airport" to wear in to work on a regular basis.
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Posted:
#15
agreed 100%. consider bernie only stole a few billion. Goldman through AIG stole 13b.
Goldman stole through AIG?
You have to be kidding. AIG wrote the contracts, accepted the premiums, agreed to the terms..they PAID on contracts in which they were obligated.
You have to be kidding. AIG wrote the contracts, accepted the premiums, agreed to the terms..they PAID on contracts in which they were obligated.
Goldman stole from the TAXPAYERS. they got a "double dip" of TARP funds from the Fed to "help cover losses" BUT then got those "losses" covered by AIG which used TARP money to pay their halfassed credit default swaps.
and Henry "Pat" Paulson put it all together. guess where Hank worked before Treasury?
0
Posted:
#16
Rat,
AIG sold the policies, collected the premiums and were legally responsible for paying the contracts off.
What if you had a homeowners policy with State Farm, and State Farm decided not to pay because they overleveraged themselves?
The fault isnt with Goldman (even though they are slimy) it is with AIG and with regulators.
Until regulators are SMARTER than the businesses they regulate, they are useless.
AIG sold the policies, collected the premiums and were legally responsible for paying the contracts off.
What if you had a homeowners policy with State Farm, and State Farm decided not to pay because they overleveraged themselves?
The fault isnt with Goldman (even though they are slimy) it is with AIG and with regulators.
Until regulators are SMARTER than the businesses they regulate, they are useless.
0
Posted:
#17
rink - correct
the AIG bailout was a backdoor conduit to GS and others to allow the double dip on TARP funds
GS ex ceo was treasury secretary...obviously
Hank does not bailout GS' biggest competitor (LEH) --> forces TARP down congress' throat via threat of martial law --> insures no GS losses on GS/AIG contracts through TARP bailout (fyi, GS almost bought AIG a few years ago...they knew they books inside and out) --->TARP becomes a revolving slush fund for Timmy to bailout his friends
the chain of events is frightening. even if half of what i assume is true actually is true, we are in worse shape than i thought
the AIG bailout was a backdoor conduit to GS and others to allow the double dip on TARP funds
GS ex ceo was treasury secretary...obviously
Hank does not bailout GS' biggest competitor (LEH) --> forces TARP down congress' throat via threat of martial law --> insures no GS losses on GS/AIG contracts through TARP bailout (fyi, GS almost bought AIG a few years ago...they knew they books inside and out) --->TARP becomes a revolving slush fund for Timmy to bailout his friends
the chain of events is frightening. even if half of what i assume is true actually is true, we are in worse shape than i thought
0
Posted:
#23
Quote Originally Posted by wallstreetcappers:
Rat,
AIG sold the policies, collected the premiums and were legally responsible for paying the contracts off.
What if you had a homeowners policy with State Farm, and State Farm decided not to pay because they overleveraged themselves?
The fault isnt with Goldman (even though they are slimy) it is with AIG and with regulators.
Until regulators are SMARTER than the businesses they regulate, they are useless.
Rat,
AIG sold the policies, collected the premiums and were legally responsible for paying the contracts off.
What if you had a homeowners policy with State Farm, and State Farm decided not to pay because they overleveraged themselves?
The fault isnt with Goldman (even though they are slimy) it is with AIG and with regulators.
Until regulators are SMARTER than the businesses they regulate, they are useless.
Came across this and had to make a comment Wall.
Your analogy is not factually correct. GS created junk securites with faulty ratings from S&P, Moody's and the other POS rating agencies. They knew what they were writing was junk, and they sold it as triple AAA anyway. To protect their ass they bought insurance through AIG on it cause they knew it would eventually blow up in their face. Sure they paid AIG premiums on it, but they underpaid premiums based on faulty ratings that GS bribed the agencies to provide though promises of future revenue on underwritings. Using your analogy of insurance, it is no different than an individual obtaining health insurance under false pretenses and not disclosing a life threatening illness. That is insurance fraud and it is what GS committed.
I agree with you, AIG over leveraged themselves and made huge errors in judgement, but GS is not some innocent party, just trying to collect on some insurance premiums. They knowingly manipulated the system and used their connections in govt to ensure they were paid 100% on the dollar when all other parties were forced to accept pennies on the dollar for their toxic assets. And let's not forget, it was our tax dollars that paid them off, not AIG's pool of premiums. I used to think of GS as a champion of capitalism, until I realized that they are just the house at a large game of Wall Street blackjack and we are all the suckers at the table. 
0
Posted:
#24
jueles,
The rating agencies, who wasnt watching and regulating THEM?
Hmmmm....seems like another failure of regulators to keep them honest eh?
The fact is we have ZERO regulatory control or authority, that is why most everything goes wrong.
Until the regulators are able to enforce in REAL TIME, they are useless, and history will repeat itself.
AIG should never have been allowed to write that many premiums, there are industry regulations as to policies versus assets, my father has worked in the industry for three decades and he is always telling me about how MOST insurance agencies are out of wack on their policy ratios, that if most were ever hit with a severe incident it could toss them into BK.
AIG over-leveraged, nobody stopped them and so since regulators are in service by CONGRESS, when they fail, congress has failed and we are on the hook.
The answer is to FORCE industry regulation, and tax the hell out of companies to build a regulatory body who is as smart and fast as the slimy "Free Markets" are.
Thanks for the comments.
The rating agencies, who wasnt watching and regulating THEM?
Hmmmm....seems like another failure of regulators to keep them honest eh?
The fact is we have ZERO regulatory control or authority, that is why most everything goes wrong.
Until the regulators are able to enforce in REAL TIME, they are useless, and history will repeat itself.
AIG should never have been allowed to write that many premiums, there are industry regulations as to policies versus assets, my father has worked in the industry for three decades and he is always telling me about how MOST insurance agencies are out of wack on their policy ratios, that if most were ever hit with a severe incident it could toss them into BK.
AIG over-leveraged, nobody stopped them and so since regulators are in service by CONGRESS, when they fail, congress has failed and we are on the hook.
The answer is to FORCE industry regulation, and tax the hell out of companies to build a regulatory body who is as smart and fast as the slimy "Free Markets" are.
Thanks for the comments.
0
Posted:
#25
Wall, agree with you on most points. Honestly I just typed a lengthy response to your points and my computer reset, so I am too mad to re-type it right now. I guess my point is that I agree, regulation is the issue. Problem is that the people in charge of regulating Wall St right now are already in the club and have no intentions of shaking things up. They have created a scenario where the only people who understand the securities that Wall St deals are ex-Wall St execs and they handle regulation with kid gloves. Add to the fact that in it's current state Wall St creates massive amounts of profits. Those profits are then sent to DC through "campaign contributions". There is no incentive for DC to bite the hand that feeds them. In regards to insurance on securities, my main issue is a system where Wall St takes risks on the premise of "too big to fail" and expects the tax payer to absorb the risk while they unilaterally enjoy the profits.
In closing, I have always enjoyed your 2 cents, and I appreciate intelligent banter. Keep it coming, the path to knowledge is the friction between opposing ideas... respect.
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