-
-
Re: America ready to return to a GOLD standard?
The Putz from Princeton is never going to give up and go back to Princeton to teach, so the next step in a long process of hyper-inflation would be, deleting the cent from circulation. Then nickels are made out of a cheaper metal, probably nickel-coated steel, as in Canada. Then the dollar coins replace the dollar bill and the two-dollar bill. Then a $2 coin is introduced, and later might come a $5 coin---- maybe a square coin or a coin with five sides or a coin with a hole in it. Anything cheap to make might function as a $5 coin, the dumber, the better. Then comes the de-valuations of the dollar. Then comes the new currency, again totally fiat and backed by mumbo-jumbo such as maybe a "special-drawing right" at the Federal Reserve Bank, whatever that might mean. Then comes another dose of hyper-inflation, and the new currency is de-valued. Then comes more games with coins, and then comes another new currency, etc.
This is an old game that has been played throughout much of the world: "good olde-fashioned hyper-inflation". Whenever the central banks talk about "the risk of de-flation", it is hyper-inflation that they are planning.
Just examining my loaf of bread this morning for breakfast, "Canadian Harvest Bread" sold by Superstore in Victoria, BC, I noticed that the loaf shrank in size; now two slices of bread can be toasted in ONE slot of a toaster, and so no less than four slices of bread can be toasted in a two-slot toaster. ( Very energy-efficient! )
Yes, the mass of the bread is the key question, but the scales have been taken-out of the grocery stores. So who knows what the loaves honestly weigh? And the label says no reduction in weight, but the size is "the tell".
Doll-house bread loaves would be no issue except that everything else in the grocery stores is down-sized too. And that would be no issue except that bottles are smaller now, so are boxes. Everything is smaller.
The cent will be dropt from circulation in the U.S. and Canada. That comes next. And the process of inflation will continue in North America, just the way it continued in Latin America for decades. The inflation turns into hyper-inflation, and the governments will say that everything is just fine and with even "a risk of de-flation ahead".
"Zero-interest rates as far as the eye can see," that appears to be the plan to make budget deficits and massive-debts manageable. That is the Bernanke Fix.
And down in the US, the Obama Administration wants to bail-out dead-beats from their mortgages. Not only this, ads are on TV to let dead-beats default on up to $5000 in credit-card debt. No cost to the dead-beat! It's a free ride courtesy of Obama and his bunch.
Still 30-year mortgages in the US, and no wonder banks are reluctant to lend. Dahhhhhhhhhhhh! Would you lend for 30 years at these rates?
This is not stimulus in the sense of the liberalism of the FDR Administration. This is the Obama Administration's stimulus in the sense of: "Cash for votes".
And the economist-frauds have the nerve to say that there is no inflation problem to-day!Last edited by Starving Steve; August 18, 2010, 12:56 PM. -
Re: America ready to return to a GOLD standard?
What kind of track record does Bix Weir have?
Be kinder than necessary because everyone you meet is fighting some kind of battle.Comment
-
Re: America ready to return to a GOLD standard?
The Gold Standard is not the answer. This has been discussed in part here.Originally posted by Mega View Post
I would like to add, that "Goldseek" is not an unbiased source.
Comment
-
Re: America ready to return to a GOLD standard?
While the U.S. does make a gold eagle which is a one-ounce troy legal tender coin, the U.S. also makes a $1 coin, in various designs including its presidents, Sacajaweya, Statue of Liberty, among others. These $1 coins are gold-coloured due to their copper-plating, but they are not gold in the sense of containing even one atom of the element gold (atomic number 79) on the periodic table of elements. These $1 coins are substitutes for the paper dollar, and they are worthless as far as metal content and function only as fiat money. They will be used in vending machines and parking-meters in future.
The U.S. under Bernanke and with his tokis-lackers on the FOMC will never go back to a gold standard. The U.S. is planning to pay for its national debt with worthless fiat money that earns zero interest. That is the Bernanke Fix that I mentioned above. The national debt has no cost to finance, and it can be paid-down in fiat money. The Fed may choose to even print more fiat money by quantitative-easing, and this QE-printing could be used to reduce the national debt.
None of this has anything whatsoever to do with "the Illuminati", the pyramid on the back of the U.S. paper dollar, trilateralism, globalism, the UN, socialism, fibanacci numbers, nor a new currency to replace the dollar such as the so-called, "Amero". All of this is fuzzy-thinking and mysticism from pot-heads in the U.S. rightwing.
Bernanke's actions speak for themselves, including QE, zero interest rates, TARP, and monetizations. Keep your attention focused 100% on Bernanke and his tokis-lackers at the Federal Reserve Bank in Washington, DC. Also observe the other central bankers around the world. Observe how the media presents the economic news, too.... The events in the economic news, as it unfolds, will speak for themselves about what is happening. (No need for any fuzzy-thinking, speculation, nor mysticism.)Last edited by Starving Steve; August 19, 2010, 03:18 PM.Comment
-
Re: America ready to return to a GOLD standard?
Murphy to the 10th, but lets see what happens here.Originally posted by shiny! View Post
-joaquin-
Bix Weir
OCTOBER 18, 2010
NEW DEVELOPMENTS IN THE CFTC SCANDAL:
On September 17, 2010, CFTC Administrative Law Judge George H Painter issued a "Notice and Order" announcing his retirement from his position. In this notice Judge Painter wrote of a conspiracy at the highest levels of the CFTC (within the ENFORCEMENT DIVISION) where a long time judge of 20 years has been conspiring with past CFTC Chairs to RIG THE ENFORCEMENT OF THE LAW by NOT finding ANYONE guilty of market manipulation. Here are Judge Painter's own words:
"There are two administrative law judges at the Commodity Futures Trading Commission: myself and the Honorable Bruce Levine. On Judge Levine's first week on the job, nearly twenty years ago, he came into my office and stated that he had promised Wendy Gramm, then Chairwoman of the Commission, that we would never rule in a complainant's favor. A review of his rulings will confirm that he has fulfilled his vow. Judge Levine, in the cynical guise of enforcing the rules, forces pro se complaints to run a hostile procedural gauntlet until they lose hope, and either withdraw their complaint or settle for a pittance, regardless of the merits of the case"
A copy of Judge Painter's letter can be found below with a stamp proving that it was received and filed by the CFTC on October 13, 2010.
More
Maybe the board will find this source more palatable, if not more credible.
Daniel P. Collins is the managing editor of FuturesMag.com
http://www.futuresmag.com/News/2010/...s-biased-.aspxComment
For a concise, readable summary of iTulip concepts developed over the past 16 years and a vision of a challenging next decade and how to navigate it, read Eric Janszen's book "Post Catastrophe Economy".
Join the discussion of today's events with a wide range of professionals with an interest in economics and finance. Register to join our 50,000 plus member registered community from 78 countries today.
Subscribe to iTulip Select for access to the longest running, deep, accurate, and unvarnished macro economic trends analysis and forecasting available, since 1998.
- If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.
Working...
Tweet
Comment