G20 meeting is a waste of time. Nothing will emerge from it other than “stay the course” idiocy. IF you Excluded United Snakes and it’s almost equal partner in crime, the UK, maybe you could accomplish something. Nothing more than a fucking photo op, IMO.
Oh, and i wouldn’t worry about Russia not seizing the opportunity to back the Ruble with gold right now. Convertibility would be exploited by the FOREX vampires and likely end in disaster.
Who do you think is buying up the MICEX at a 75% discount? A year from now Russian state control of strategic industry will be complete; at that point the Ruble becomes a genuine reserve currency in a big way. Russia is playing for the long term and willing to suffer short term losses to achieve the goal.
Ooo, Max, rather edgy towards the end! I don’t understand why you think Obama “has got our backs,” though. After listening to what few snippets of non-empty rhetoric he has uttered, it seems to me that he has Utopian ideals that resemble “1984″ or “Brazil,” and he is not about to return the power of the executive back to where it belongs. He is no different than the other Lumley-esque power-lust infected, nano-managing Wamphyri living in their DC dens.
With regard to Ponzi/MLM/pyramid schemes, doesn’t the last level pay the most? That means that the American taxpayer will end up paying more than the notional value on all this stuff, right? So, I reckon our present and future labor for at least a generation will be illegally bonded by the DC pimps to the NY/New world uber-bankers. And the slower our economy gets, the longer we are bonded/serfed…
@craig, I’m thinking nickels are a better idea since junk silver is now out of the picture. Before the fake dollar rally, a nickel was worth about 9-10 cents because of its metal content. With bread at $2/loaf, you get 20 nickels = loaf of bread. Granted, industrial metals will fall in price during global depression, so call it 40 nickels (one roll) = loaf of bread.
‘Wild and gloomy times? Small wonder that people are shaken and confused! The signs are everywhere. The signs of our times point to a struggle between absolutes. We may expect the future to be a time of trials and catastrophes for two reasons: firstly, to stop disintegration. . . Revolution, disintegration, chaos must be reminders that our thinking has been wrong, our dreams have been unholy.
The second reason why a crisis must come is in order to prevent a false identification of the Church and the World. Our Lord intended that His followers should be different in spirit from those who were not His followers. . . But, though this is the divine intent, it is unfortunately true that the line of demarcation is often blotted out. Mediocrity and compromise characterize the lives of many Christians.
There is no longer the conflict which is supposed to characterize us. We are influencing the world less than the world is influencing us. Since the amalgamation of the Christian and pagan spirit has set in, since the gold is married with an alloy, the entirety must be thrown into the furnace SO that the dross may be burnt away.”
Iran announced today that they have converted their monetary reserves into gold. That’s a lot of gold (something like $80 billion)– where are they getting it from? Venezuela and Russia?
Venezuela, oddly enough, has weathered this storm better than anyone: unemployment is still going Down (8.5% measured in reality-based statistics - as opposed to the likely 12-15% in the US); foreign reserves Up to $40B (and another $40B in their development fund); NO “bailouts” of any kind whatsoever - and threats by Chavez that any bank caught fucking around will get their asses Nationalized pronto; a 60% increase in the stock market over the past five years; free healthcare; free education all the way through university and post-graduate studies; gas at 17 cents a gallon, etc, all while maintaining a $7-$10B budget Surplus. Pretty fucking good by ANY standard.
Inflation is Up, but that’s what happens when your economy grows 8-10% every year…
All the Wall Street know-it-all assholes like to bleat about how the price of oil will “wreck” Venezuela’s economy Without acknowledging that Venezuela’s budget for this year and next is predicated on oil prices in the $60-$70 range, which is probably a conservative estimate once this artificial commodity deflation ends in the next few weeks or months.
If that is “21st Century Socialism” then other countries need to wake the fuck up and get intimate with the Bolivarian revolution. It is Working while laissez faire Free Market Fundamentalism is Failing. Big time.
Just imagine where Venezuela would be now Without the 24/7 sabotage efforts of the CIA/NED/Wall Street??? Pushing the US for first place in per capita GDP, maybe? As it is, only US and Canada is ahead in that department in this hemisphere. A remarkable, unrivaled success for such a small country.
Max! When I try to play this video, it says “Sorry, this video is no longer available.” Are you being deliberately censored here? Could you publish a transcript?
There is of course a Solution to the present meltdown:
1. BAN ALL speculative trading. Shorts, forex, etc…
2. ENFORCE the “insider trading” laws: ALL major players on Wall Street do nothing BUT insider trades. Put violators in JAIL.
3. FORCE the US to close it’s 700 military bases around the world and reduce it’s “defense” budget to China’s level - i.e. about $100B. That would immediately free-up about $1.1 Trillion.
4. IMPOSE “restructuring” of the US economy in such a way that it can PAY BACK it’s Debts over a 20 year period without debasing the currency.
A concerted effort by the rest of the planet combined, against the US/UK ponzi system will fix the world economy overnight. Americans will suffer - but Nearly as much as they have made the World to suffer under the current system of Planet Earth paying America’s bills. The present situation is simply absurd and must end - Why should the savings of an Indian or Chinese factory worker making $20 a day PAY for American’s new cars, McMansions, and all-you-can-eat buffet tables? It’s insane. It must end.
Now, will anything even remotely fucking resembling such a solution emerge from the G20 photo-op? Not fucking likely. It’s a mockery where US “economists” will once again try to convince the world to bail them out. What kind of a sick upside-down world would enslave 90% of the population to ensure the the prosperity of 5%??? Orwell and Huxley themselves could not have imagined such a diseased scenario.
I’m pretty certain China and Russia won’t have any of it, and I’m feeling somewhat better about Germany and France abandoning ship than i have in the past. The rest? I have my doubts…Maybe if Italy or another Major economy were to default, then an “anti-American” consensus could emerge from the photo-ops. I doubt it.
Im actually living in Japan atm. . .they use a lot of coins,
The one Yen coin= 1 g 100% aluminium
Five yen coin = 3.75 g 60-70% copper
30-40% zinc
Ten Yen coin= 4.5 g 95% copper
3-4% zinc
1-2% tin
Fifty Yen Coin= 4 g Cupronickel
75% copper
25% nickel
Hundred Yen Coin= 4.8 g Cupronickel
75% copper
25% nickel
Five Hundred Yen Coin = 7 g 72% copper
20% zinc
8% nickel
Where can I find out about how much these metals are worth?
Im thinking about going to find a pawn shop or a cheap cheap jewelry shop and buying some small golden rings or something. (as well as using gold money .com but might take too long to transfer my money before the price of gold shoots up to $5555/???Yen Per ounce of Gold. . .)
Wish I could talk to the markets and convince them not to collapse until I get my money transferred to gold. . .
Why do you criticise the USA but not Iran? Iran is a horrible tyrannical place to live, for its own citizens. And Im pretty sure their financial system is just as dishonest as anything on Wall St.
What are you trying to achieve by appearing on Iranian TV?
According to the Kitco base metals page, nickel is most expensive, followed by copper, at roughly a 3:1 ratio. Zinc is less, around 1/3 the price of copper; aluminum is cheap too. This suggests the 50Y coin might be your best bet… but are you expecting a total collapse of the yen?
Re: gold rings, I’ve heard it is not worth buying more than 14kt purity because on the street all gold is presumed to be 14kt and no more. But again, do you think Japan is looking at the Mad Max scenario which is possible in the US?
Print off your GoldMoney forms and get your paperwork in… you’ve got time. The paperwork is not as bad as it looks, assuming Japan has the equivalent of The UPS Store or Pack ‘n Mail Plus, someplace with a copy machine & a notary on staff.
@freelearner ok kitco cool cool, Ill have to check that place out, yeah I’m going to print it out tonight at the local internet cafe and send in all the forms tommorrow before work.
Actually based on what peter schiff was saying I didnt think the yen would crash but after hearing max talk about a worldwide depression and the fact that the interest rate here is 0.3 percent, that with the fact that most banks charge you for withdrawing money (singnaling a negative interest rate value on the REAL number. . .not the 0.3 that the gov puts out) and the fact that Japan has been a prime target for carry trades around the world, even though there is “stuff” like rice farms, and factories and an emerging chinese market next door, ive been pretty worried lately that at least when the dollar crashes the yen may suffer a lot too. . . .There are a lot of people that work with american companies here, while yes they would be able to probably get other jobs faster here once they fold as opposed to america where there will be nothing. . .during the transition period, it may be really hard and banks might do the stupid then and bring the on paper rate to 0% which means even more penalties for having my money in any Japanese bank. . .
“Re: gold rings, I’ve heard it is not worth buying more than 14kt purity because on the street all gold is presumed to be 14kt and no more.”
Exactly, thats why im looking to get cheap silver and gold rings as cheap as possible in case I cant get the gold money thing in before the dollar crashes and brings economies into chaos, of course I wont put all my money in to each thing, some into the gold accounts, some into cheap physical stuff, and some cash on hand.
Anyway I need to go print out those documents. . .cya
Petronius is totally right about Jersey and the Channel Islands. Its a nest of tax avoiding parasites. The UK should shut down their legalised tax evasion haven.
Give them a choice. They should either pay tax or get cut off from the UK. They would have to accept. Theyve got minimal bargaining power.
21 Comments
November 15th, 2008 at 3:39 am
Worldwide Depression!?!? what?!
November 15th, 2008 at 5:04 am
I think you’ll like it:
http://www.youtube.com/watch?v=G6_bAvB80iI&feature=related
Not just the Cornwall Liberation Army, it seems!
November 15th, 2008 at 5:57 am
Is stainless steel a precious metal?
(thinking about using forks and spoons as a type of money if neccessary and possible)
November 15th, 2008 at 7:32 am
G20 meeting is a waste of time. Nothing will emerge from it other than “stay the course” idiocy. IF you Excluded United Snakes and it’s almost equal partner in crime, the UK, maybe you could accomplish something. Nothing more than a fucking photo op, IMO.
Oh, and i wouldn’t worry about Russia not seizing the opportunity to back the Ruble with gold right now. Convertibility would be exploited by the FOREX vampires and likely end in disaster.
Who do you think is buying up the MICEX at a 75% discount? A year from now Russian state control of strategic industry will be complete; at that point the Ruble becomes a genuine reserve currency in a big way. Russia is playing for the long term and willing to suffer short term losses to achieve the goal.
November 15th, 2008 at 8:54 am
Ooo, Max, rather edgy towards the end! I don’t understand why you think Obama “has got our backs,” though. After listening to what few snippets of non-empty rhetoric he has uttered, it seems to me that he has Utopian ideals that resemble “1984″ or “Brazil,” and he is not about to return the power of the executive back to where it belongs. He is no different than the other Lumley-esque power-lust infected, nano-managing Wamphyri living in their DC dens.
With regard to Ponzi/MLM/pyramid schemes, doesn’t the last level pay the most? That means that the American taxpayer will end up paying more than the notional value on all this stuff, right? So, I reckon our present and future labor for at least a generation will be illegally bonded by the DC pimps to the NY/New world uber-bankers. And the slower our economy gets, the longer we are bonded/serfed…
November 15th, 2008 at 9:08 am
@craig, I’m thinking nickels are a better idea since junk silver is now out of the picture. Before the fake dollar rally, a nickel was worth about 9-10 cents because of its metal content. With bread at $2/loaf, you get 20 nickels = loaf of bread. Granted, industrial metals will fall in price during global depression, so call it 40 nickels (one roll) = loaf of bread.
November 15th, 2008 at 9:10 am
‘Wild and gloomy times? Small wonder that people are shaken and confused! The signs are everywhere. The signs of our times point to a struggle between absolutes. We may expect the future to be a time of trials and catastrophes for two reasons: firstly, to stop disintegration. . . Revolution, disintegration, chaos must be reminders that our thinking has been wrong, our dreams have been unholy.
The second reason why a crisis must come is in order to prevent a false identification of the Church and the World. Our Lord intended that His followers should be different in spirit from those who were not His followers. . . But, though this is the divine intent, it is unfortunately true that the line of demarcation is often blotted out. Mediocrity and compromise characterize the lives of many Christians.
There is no longer the conflict which is supposed to characterize us. We are influencing the world less than the world is influencing us. Since the amalgamation of the Christian and pagan spirit has set in, since the gold is married with an alloy, the entirety must be thrown into the furnace SO that the dross may be burnt away.”
Bishop Fulton J. Sheen
November 15th, 2008 at 10:15 am
Iran announced today that they have converted their monetary reserves into gold. That’s a lot of gold (something like $80 billion)– where are they getting it from? Venezuela and Russia?
November 15th, 2008 at 11:47 am
Venezuela, oddly enough, has weathered this storm better than anyone: unemployment is still going Down (8.5% measured in reality-based statistics - as opposed to the likely 12-15% in the US); foreign reserves Up to $40B (and another $40B in their development fund); NO “bailouts” of any kind whatsoever - and threats by Chavez that any bank caught fucking around will get their asses Nationalized pronto; a 60% increase in the stock market over the past five years; free healthcare; free education all the way through university and post-graduate studies; gas at 17 cents a gallon, etc, all while maintaining a $7-$10B budget Surplus. Pretty fucking good by ANY standard.
Inflation is Up, but that’s what happens when your economy grows 8-10% every year…
All the Wall Street know-it-all assholes like to bleat about how the price of oil will “wreck” Venezuela’s economy Without acknowledging that Venezuela’s budget for this year and next is predicated on oil prices in the $60-$70 range, which is probably a conservative estimate once this artificial commodity deflation ends in the next few weeks or months.
If that is “21st Century Socialism” then other countries need to wake the fuck up and get intimate with the Bolivarian revolution. It is Working while laissez faire Free Market Fundamentalism is Failing. Big time.
Just imagine where Venezuela would be now Without the 24/7 sabotage efforts of the CIA/NED/Wall Street??? Pushing the US for first place in per capita GDP, maybe? As it is, only US and Canada is ahead in that department in this hemisphere. A remarkable, unrivaled success for such a small country.
November 15th, 2008 at 12:16 pm
Max! When I try to play this video, it says “Sorry, this video is no longer available.” Are you being deliberately censored here? Could you publish a transcript?
November 15th, 2008 at 12:56 pm
There is of course a Solution to the present meltdown:
1. BAN ALL speculative trading. Shorts, forex, etc…
2. ENFORCE the “insider trading” laws: ALL major players on Wall Street do nothing BUT insider trades. Put violators in JAIL.
3. FORCE the US to close it’s 700 military bases around the world and reduce it’s “defense” budget to China’s level - i.e. about $100B. That would immediately free-up about $1.1 Trillion.
4. IMPOSE “restructuring” of the US economy in such a way that it can PAY BACK it’s Debts over a 20 year period without debasing the currency.
A concerted effort by the rest of the planet combined, against the US/UK ponzi system will fix the world economy overnight. Americans will suffer - but Nearly as much as they have made the World to suffer under the current system of Planet Earth paying America’s bills. The present situation is simply absurd and must end - Why should the savings of an Indian or Chinese factory worker making $20 a day PAY for American’s new cars, McMansions, and all-you-can-eat buffet tables? It’s insane. It must end.
Now, will anything even remotely fucking resembling such a solution emerge from the G20 photo-op? Not fucking likely. It’s a mockery where US “economists” will once again try to convince the world to bail them out. What kind of a sick upside-down world would enslave 90% of the population to ensure the the prosperity of 5%??? Orwell and Huxley themselves could not have imagined such a diseased scenario.
I’m pretty certain China and Russia won’t have any of it, and I’m feeling somewhat better about Germany and France abandoning ship than i have in the past. The rest? I have my doubts…Maybe if Italy or another Major economy were to default, then an “anti-American” consensus could emerge from the photo-ops. I doubt it.
We are fucked.
November 15th, 2008 at 1:54 pm
@freelearner
Im actually living in Japan atm. . .they use a lot of coins,
The one Yen coin= 1 g 100% aluminium
Five yen coin = 3.75 g 60-70% copper
30-40% zinc
Ten Yen coin= 4.5 g 95% copper
3-4% zinc
1-2% tin
Fifty Yen Coin= 4 g Cupronickel
75% copper
25% nickel
Hundred Yen Coin= 4.8 g Cupronickel
75% copper
25% nickel
Five Hundred Yen Coin = 7 g 72% copper
20% zinc
8% nickel
Where can I find out about how much these metals are worth?
Im thinking about going to find a pawn shop or a cheap cheap jewelry shop and buying some small golden rings or something. (as well as using gold money .com but might take too long to transfer my money before the price of gold shoots up to $5555/???Yen Per ounce of Gold. . .)
Wish I could talk to the markets and convince them not to collapse until I get my money transferred to gold. . .
only in a perfect world. . . .
November 15th, 2008 at 4:57 pm
Why do you criticise the USA but not Iran? Iran is a horrible tyrannical place to live, for its own citizens. And Im pretty sure their financial system is just as dishonest as anything on Wall St.
What are you trying to achieve by appearing on Iranian TV?
November 15th, 2008 at 5:04 pm
@craig,
According to the Kitco base metals page, nickel is most expensive, followed by copper, at roughly a 3:1 ratio. Zinc is less, around 1/3 the price of copper; aluminum is cheap too. This suggests the 50Y coin might be your best bet… but are you expecting a total collapse of the yen?
Re: gold rings, I’ve heard it is not worth buying more than 14kt purity because on the street all gold is presumed to be 14kt and no more. But again, do you think Japan is looking at the Mad Max scenario which is possible in the US?
Print off your GoldMoney forms and get your paperwork in… you’ve got time. The paperwork is not as bad as it looks, assuming Japan has the equivalent of The UPS Store or Pack ‘n Mail Plus, someplace with a copy machine & a notary on staff.
November 15th, 2008 at 6:33 pm
@dublin Brian, wow. . .you need to take the red pill my friend. . . .
November 16th, 2008 at 12:54 am
@freelearner ok kitco cool cool, Ill have to check that place out, yeah I’m going to print it out tonight at the local internet cafe and send in all the forms tommorrow before work.
Actually based on what peter schiff was saying I didnt think the yen would crash but after hearing max talk about a worldwide depression and the fact that the interest rate here is 0.3 percent, that with the fact that most banks charge you for withdrawing money (singnaling a negative interest rate value on the REAL number. . .not the 0.3 that the gov puts out) and the fact that Japan has been a prime target for carry trades around the world, even though there is “stuff” like rice farms, and factories and an emerging chinese market next door, ive been pretty worried lately that at least when the dollar crashes the yen may suffer a lot too. . . .There are a lot of people that work with american companies here, while yes they would be able to probably get other jobs faster here once they fold as opposed to america where there will be nothing. . .during the transition period, it may be really hard and banks might do the stupid then and bring the on paper rate to 0% which means even more penalties for having my money in any Japanese bank. . .
November 16th, 2008 at 1:59 am
oh and one mor ething free learner
“Re: gold rings, I’ve heard it is not worth buying more than 14kt purity because on the street all gold is presumed to be 14kt and no more.”
Exactly, thats why im looking to get cheap silver and gold rings as cheap as possible in case I cant get the gold money thing in before the dollar crashes and brings economies into chaos, of course I wont put all my money in to each thing, some into the gold accounts, some into cheap physical stuff, and some cash on hand.
Anyway I need to go print out those documents. . .cya
November 16th, 2008 at 2:38 am
Anything from Jersey (Goldmoney) is part of the problem, not part of the solution….
November 16th, 2008 at 2:58 am
@petronius
mind giving some reasons, backed with facts and figures, or are you just trolling around here?
November 16th, 2008 at 7:47 am
No, not trolling, what kind of evidence do you want?
They are a non-tax paying parasite on the UK economy with sovereign protection… an offshore hole for UK misery causing parasites to hide.
I perceive all of these offshore tax havens to be part of the problem, not the part of the solution.
If you want some complex math equation to justify my opinion then it might be some time in coming.
November 16th, 2008 at 4:37 pm
Petronius is totally right about Jersey and the Channel Islands. Its a nest of tax avoiding parasites. The UK should shut down their legalised tax evasion haven.
Give them a choice. They should either pay tax or get cut off from the UK. They would have to accept. Theyve got minimal bargaining power.
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