CNBC reminds GIM of years ago

[G2Rad]

CNBC sounds just like GIM of years before

( See the picture for the headlines )

This has become a tottaly different world from several years ago.

[chad]

that's just online stuff nobody reads. this never makes it on teevee.

[G2Rad]

here is another now-main-stream article:

wow!



US Is 'Practically Owned' by China: Analyst

The US supremacy as the top world economy will end sooner than many people believe, so gold is a better investment than the dollar despite it hitting a new record, Tom Winnifrith, CEO at financial services firm New Rivington Street Holdings, told CNBC.com Monday.

Gold hit a new record high Monday and silver rose to another 30-year peak as investors were worried about the dollar weakening further after the Federal Reserve hinted at more quantitative easing last week.

The US trade deficit and debt continue to grow and the authorities are reluctant to address the problem, preferring to print money, Winnifrith said.

"America is practically owned by China," he said.

He reminded of the fact that in 1900, sterling was the world's reserve currency but by 1948, that was no longer the case as the British Empire collapsed.

"America is doing what Britain did," Winnifrith said. "America spends much more than it can afford and it's not addressing the issue."

In 1832, China and India were the world's two largest economies and by 2032, they will regain that status, he predicted.

"The 200 years when Britain and the US were the top two economies were an aberration and that will change," Winnifrith said.

"The decline of empires has happened much faster than folks think. I believe that gold will be a far better bet in 20 years than the dollar," he added.

[G2Rad]

it occured to me that in an enviroment where everybody is a contrarian, following a plain-and-stupid (non-contrarian) plan is a true contrarian strategy

[G2Rad]

The day may come, when the government will use now-denied GATA reports as a reason for gold confiscation.


Honestly, GATA proved that you, guys paid much less price for your gold than it is worth.


Here is a possible spin: GATA without any doubt indicated that the gold you own was fraudulently acquired at artificially low price, while taxpayers' money were used to suppress the prices.

So, is it "go GATA!" or else "f*** u, GATA"?

[G2Rad]

its so boring and frustrating watching it stuck at 1,299.99

do or die already

[Neuro]

its so boring and frustrating watching it stuck at 1,299.99

do or die already

But it has only been stuck there for a few days... Probably after option expiry it will commence it's climb. I think 1430 bucks is where it will go before a pullback down to 1260...

[Ponce]

Like I posted before "For every physical oz of gold there is 45 times the ammount in paper......so the real prize of gold is 45 X $1,300", but of course that's without the printing of extra money and so on.

[G2Rad]

if I were a president today, seeing a lot of top-guys around me quiting the job .... would I really want to continue in my current position or would I perhaps start looking for another job?

He seems to be one of many who really didn't understand how bad things were in 2008

didn't understand just how badly the political system is broken

the number and the complexity of the problems may well be beyond our current system's ability to solve.

The realization of this will certainly take the spring out of most peoples step.

from being a huge celebrity, surrounded by glowing supporters to isolation and harsh criticism

Running for President was more fun than actually doing the job, especially when one does not have executive experience, no experience negotiating with opposition, or managing a massive operation

is the country manageable at all?

The fundamental problem is that a Constitution and a republic or democracy are only suitable for a fairly homogenous people, who identify with one another and who see themselves AS a people with a common interest.

The U.S. was such a country at its founding but is now too fragmented - and becoming dramatically more fragmented - along racial, religious, language, cultural, and fundamental political philosophy lines (collectivist versus libertarian, libertine versus social traditionalist) to be governable via a democratic means of selecting leaders. There are large identity groups in this country now who do not at all see themselves as having common interests with the other identity groups.

We are being balkanized by the 1965 immigration act which is allowing our colonization by people of alien cultures and ethnicities who immigrate here, legally and illegally, by the millions with no expectation that they will assimilate to become like us, nor desire to do so.
Balkanized countries are ungovernable by democracy ! because it becomes a frantic race to capture government to reward your own group and punish the others.

You end up with a dictators and civil wars.

[G2Rad]

stupidity of liberal thinking:

(see how it vilifies savers, it is all "savers" fault)

http://www.dailymail.co.uk/news/article-1315648/Band-England-tells-Britains-22million-savers-start-spending-boost-faltering-economy.html

quotes:

"savers have been told to give up on the idea of living off their income and start 'eating into' their capital.

"decisions of millions of individuals to save more in tough times can drag down the economy as a whole"

"We want to see households not saving more, but spending more"


"we're trying to do by our policy is encourage more spending"

"we want to see households not saving more but spending more"

[Ash_Williams]

Like I posted before "For every physical oz of gold there is 45 times the ammount in paper......so the real prize of gold is 45 X $1,300", but of course that's without the printing of extra money and so on.

Yeah but the part people hate me for saying is that the 44 people with the paper are happy with it. They have no need for the metal. They are buying only to sell, so paper is as good as metal for them.

You can't assume that if paper transactions were gone somehow, then 44x as many people would be buying real gold. I'm sure a few more people would be... but not everyone. Certainly not those that buy and sell multiple times just in the course of a day.

"Investment demand", be definition, is demand that exists because investors want to invest. Investing involves taking some money, buying something, and then selling it later. People buying and selling paper gold are doing this. They are not mining it, or consuming it. Pretty much all gold bought for investment will return to the market at some point. While this is happening, miners are producing, and meeting the demands of industry.

I think it's a good investment now, but we should be aware of the worst case, not just the best case.