AuthorTopic: Gold & Silver News  (Read 408304 times)

Offline g

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Re: Gold & Silver News
« Reply #2505 on: January 13, 2019, 02:58:05 PM »
Quote
Ho fuckin' hum

You just don't get it Eddie, wish I could help.

Lord knows I've tried. Your problem is you don't know what gold is and you don't wish to understand it.

Your in a game with GO about smarts and finance which you simply cannot win.

Chill out, relax, and remember that GO is trying to help. I made my bones decades ago, and am in no contests, merely trying to yank heads out of ass holes.

Your inability to understand who I am, who you are, and your good fortune in meeting me will result in your financial misunderstandings becoming more pronounced if you continue to view me as your adversary rather than teacher.

I admire your spunk and ego, but your talking to GO Edward, not the cannon fodder. 

Quote
"So fuckin dumb"

 P.S. Kindly don't reply with your nasty jealous bullshit and then delete my replies Rambo, Thanks, GO

                                     

                 
                                     
                                               I'm Here To Help Eddie and You Need It.  ;D

                                       


Offline g

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Re: Gold & Silver News
« Reply #2506 on: January 14, 2019, 04:14:26 AM »
Dear readers, Do not underestimate the importance of this marriage announced this morning by two of the world's major gold miners, Newmont Mining and Goldcorp.

It is a sign of the rapidly diminishing reserves of gold left that can be mined economically, as well as the  decades of work preparation permits etc that are required to open a new mine.

Perhaps this chart will illustrate my point.     

                               

                     
                                                                                                          

                             

Offline g

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Re: Gold & Silver News - Gold Hits an All Time High in 72 Currencies
« Reply #2507 on: January 15, 2019, 01:14:41 PM »
 The four thousand year bull market continues.

  Remember fellow gold bugs, you can't eat it or spend it at Seven Eleven
  ;D

   


                             

Gold hits an all time high in 72 currencies


It is natural that we measure things by a familiar yardstick - the problem is that being so-biased or lazy, we can be deceived.

Take gold. Popular belief has it that gold prices have not performed especially well despite some egregious geopolitical and economic factors. Well measured in 72 currencies, gold is at ... or within a few percentage points ... of being at an all time high for people in those countries. Not on the list are the British Pound, the Swiss Franc, the Euro and Chinese Yuan - but we are not far off in all of those currencies too. Only in USD does gold lag - and not all of us live in the US.

Using the dollar gold price, as most of us do, has disguised what is actually quite a powerful bull market. If my memory serves me right, we saw the same phenomenon - a stealth rally in minor currencies - ahead of the last major gold bull run (in dollars) in the late 1990’s. Arguably this may be a very good leading indicator.

Faulty yardsticks also takes us onto wealth management. Measuring our net worth in local currencies, we might be rather pleased with ourselves - smug even. However we chose to ignore the fact that the yardstick is not a constant … it is shrinking and sometimes really quite fast. It’s the natural corrosive effect of inflation. Knowing this, governments give us a gauge for yardstick shrinkage to use such as RPI or CPI, to reassure you that the shrinkage is minimal… and then lie about it. 

There are alternatives.

In the US, the Chapwood Index is highly regarded as it reflects the true cost-of-living increase. Plainly and simply, the Index shows that incomes can’t keep up with expenses, and it explains why people increasingly have to turn to the government for entitlements to bail them out. The basis of the Index is fullly open to scrutiny and if correct suggests Americans have been losing roughly 10% of their wealth each year since 2014. Half of it gone. This compares with the official government figure of 1.9%. Ronald Reagan called inflation “the thief in the night” and it is built for times just as this. It gives the appearance of being wealthy (maintaining high nominal values) while eroding your actual position - which manifests itself in far higher costs on the other side.

Interestingly, gold has seen an average year-on-year gain of about 10% compounded since 2000 - off-setting those real losses - which reaffirms in our mind that it continues as a reliable yardstick against which to measure costs or indeed wealth. In short, gold has maintained what economists call “purchasing power parity” for millenia. So not only is it an excellent yardstick - its actually quite a useful thing to own - especially if you fear wealth erosion. If you haven’t already read this, you must - see :Jastram’s Golden Constant

Many crises invariably start with stealth inflation and then follows currency weakness - so gold gets expensive and then it blows out significantly higher in your local currency. Then you realise that the lifeboat has sailed … the choo-choo train has left the station.

For the unprotected, your backstop plan to protect your wealth by “buying gold when I need it” has just failed. You are now trapped with a dissolving currency and every financial escape route looks too expensive … and so it goes. Ask anyone in one of those 72 countries (see below) where gold is starting to look expensive.

In short, insurance is best bought before you think you need it … boring, but true.

__________________________________________________________________________________________________________________

Ross Norman

Sharps Pixley, London

https://www.zerohedge.com/news/2019-01-15/gold-hits-all-time-high-72-currencies?fbclid=IwAR0hzxDoJPDmE959rYIvpYE6gAx5IkQuBP315mWC03sahowSPIyevgGf-J8  :icon_study: :icon_study:

                                                   


Offline Eddie

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Re: Gold & Silver News
« Reply #2508 on: January 15, 2019, 01:21:19 PM »
Quote
Ho fuckin' hum

You just don't get it Eddie, wish I could help.

Lord knows I've tried. Your problem is you don't know what gold is and you don't wish to understand it.

Your in a game with GO about smarts and finance which you simply cannot win.

Chill out, relax, and remember that GO is trying to help. I made my bones decades ago, and am in no contests, merely trying to yank heads out of ass holes.

Your inability to understand who I am, who you are, and your good fortune in meeting me will result in your financial misunderstandings becoming more pronounced if you continue to view me as your adversary rather than teacher.

I admire your spunk and ego, but your talking to GO Edward, not the cannon fodder. 

Quote
"So fuckin dumb"

 P.S. Kindly don't reply with your nasty jealous bullshit and then delete my replies Rambo, Thanks, GO

                                     

                 
                                     
                                               I'm Here To Help Eddie and You Need It.  ;D

                                       

I've never deleted a single word of yours. I did once delete a pic of Stormy Daniels blowing some guy that you posted. If something else got deleted, it wasn't on my watch.
What makes the desert beautiful is that somewhere it hides a well.

Offline Eddie

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Re: Gold & Silver News - Gold Hits an All Time High in 72 Currencies
« Reply #2509 on: January 15, 2019, 01:26:53 PM »
The four thousand year bull market continues.

  Remember fellow gold bugs, you can't eat it or spend it at Seven Eleven
  ;D

   


                             

Gold hits an all time high in 72 currencies


It is natural that we measure things by a familiar yardstick - the problem is that being so-biased or lazy, we can be deceived.

Take gold. Popular belief has it that gold prices have not performed especially well despite some egregious geopolitical and economic factors. Well measured in 72 currencies, gold is at ... or within a few percentage points ... of being at an all time high for people in those countries. Not on the list are the British Pound, the Swiss Franc, the Euro and Chinese Yuan - but we are not far off in all of those currencies too. Only in USD does gold lag - and not all of us live in the US.

Using the dollar gold price, as most of us do, has disguised what is actually quite a powerful bull market. If my memory serves me right, we saw the same phenomenon - a stealth rally in minor currencies - ahead of the last major gold bull run (in dollars) in the late 1990’s. Arguably this may be a very good leading indicator.

Faulty yardsticks also takes us onto wealth management. Measuring our net worth in local currencies, we might be rather pleased with ourselves - smug even. However we chose to ignore the fact that the yardstick is not a constant … it is shrinking and sometimes really quite fast. It’s the natural corrosive effect of inflation. Knowing this, governments give us a gauge for yardstick shrinkage to use such as RPI or CPI, to reassure you that the shrinkage is minimal… and then lie about it. 

There are alternatives.

In the US, the Chapwood Index is highly regarded as it reflects the true cost-of-living increase. Plainly and simply, the Index shows that incomes can’t keep up with expenses, and it explains why people increasingly have to turn to the government for entitlements to bail them out. The basis of the Index is fullly open to scrutiny and if correct suggests Americans have been losing roughly 10% of their wealth each year since 2014. Half of it gone. This compares with the official government figure of 1.9%. Ronald Reagan called inflation “the thief in the night” and it is built for times just as this. It gives the appearance of being wealthy (maintaining high nominal values) while eroding your actual position - which manifests itself in far higher costs on the other side.

Interestingly, gold has seen an average year-on-year gain of about 10% compounded since 2000 - off-setting those real losses - which reaffirms in our mind that it continues as a reliable yardstick against which to measure costs or indeed wealth. In short, gold has maintained what economists call “purchasing power parity” for millenia. So not only is it an excellent yardstick - its actually quite a useful thing to own - especially if you fear wealth erosion. If you haven’t already read this, you must - see :Jastram’s Golden Constant

Many crises invariably start with stealth inflation and then follows currency weakness - so gold gets expensive and then it blows out significantly higher in your local currency. Then you realise that the lifeboat has sailed … the choo-choo train has left the station.

For the unprotected, your backstop plan to protect your wealth by “buying gold when I need it” has just failed. You are now trapped with a dissolving currency and every financial escape route looks too expensive … and so it goes. Ask anyone in one of those 72 countries (see below) where gold is starting to look expensive.

In short, insurance is best bought before you think you need it … boring, but true.

__________________________________________________________________________________________________________________

Ross Norman

Sharps Pixley, London

https://www.zerohedge.com/news/2019-01-15/gold-hits-all-time-high-72-currencies?fbclid=IwAR0hzxDoJPDmE959rYIvpYE6gAx5IkQuBP315mWC03sahowSPIyevgGf-J8  :icon_study: :icon_study:

                                                   



Looks to me like it's just now approaching the same resistance it's been trying to break through for the last four years. What currency?

The Zimabwean Z$ ?

The Venezuelan Petro?
What makes the desert beautiful is that somewhere it hides a well.

Offline g

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Re: Gold & Silver News - Sam Zell Buying Gold
« Reply #2510 on: January 17, 2019, 01:52:59 PM »
Well well fellow gold bugs.

Our community picks up a new member.  An old famous virgin far as golden ventures goes.
  ;D ;D

Brief video included in article.           



Billionaire Investor Sam Zell Says He's Buying Gold "For The First Time In My Life"
Phoenix Capital Research's blog

                           


Amid a cresting wave of consolidation in the gold mining space as spending on new mines has dried up since 2011, billionaire investor Sam Zell is buying the shiny metal "for the first time in his life" because he sees opportunities stemming from an expected shortage in supply.

Gold notably didn't perform as well as many might have expected during the eruption of market volatility during Q4, but some investors see scope for the shiny metal to embark on its strongest rally since the crisis after years of lackluster returns as global economic growth slows and investors look for somewhere to hide.

That, and the impending supply crunch that Zell envisions from the drop in new mining capacity - the capacity of unmined gold still buried in existing mines shrank by 40% in 2017 - are the two reasons why Zell has been buying.

    “For the first time in my life, I bought gold because it is a good hedge,” Sam Zell, the founder of Equity Group Investments, said in a Bloomberg TV interview. “Supply is shrinking and that is going to have a positive impact on the price.”

    "The amount of capital being put into new gold mines is a most nonexistent," Zell said. "All of the money is being used to buy up rivals."

And though official rate of inflation has started to decelerate once again in recent months, signs that the actual rate of inflation in the underlying economy is higher than it might appear could also be a positive for the shiny metal.

https://www.zerohedge.com/news/2019-01-17/billionaire-investor-sam-zell-says-hes-buying-gold-first-time-my-life   :icon_study: :icon_study:


                                                         



                           

Offline azozeo

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Gold & Silver News
« Reply #2511 on: March 01, 2019, 07:33:37 AM »


US giving Daesh safe passage in east Syria under gold deal: Local sources

Feb 27, 2019

Reports have emerged of a deal clinched between the United States and Daesh, under which Washington has received massive amounts of gold in exchange for providing safe passage to the terror group’s members in Syria.

The deal gave the United States “tens of tons of gold that the terror organization had stolen,” the official Syrian Arab News Agency (SANA) reported on Tuesday, citing local sources.

In return, US forces would allow the terrorists and their ringleaders to escape their hideouts in the eastern province of Dayr al-Zawr, the agency added.

The gold has been carried away from the province’s al-Baghouz area on board helicopters.

The helicopters, according to eyewitnesses, transported large boxloads of Daesh “spoils” from the al-Dashisha area in the countryside of Hasaka in northeastern Syria.

    American forces have already appropriated and shipped out huge quantities of gold they had seized in Daesh’s strongholds, bringing the total amount of gold acquired and transferred to the US to around 50 tons, SANA said.

The report added that the terror outfit’s last hideouts in Dayr al-Zawr also contain millions of dollars in funds plundered by the group from across Syria and neighboring Iraq.

https://www.presstv.com/Detail/2019/02/20/589106/US-coalition-Daesh-militants-families-redoubt-Syria
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline g

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Re: Gold & Silver News
« Reply #2512 on: March 07, 2019, 06:25:59 AM »
My Dear Diner Friends, Have received your messages but due to my status am unable to reply.

It is always a pleasure to hear from you, your sentiments are mine.   Regards, Golden Oxen

                                                                       

Offline Eddie

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Re: Gold & Silver News
« Reply #2513 on: March 07, 2019, 07:08:56 AM »
Good to know you're still alive.
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Offline azozeo

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Gold & Silver News - Syria Accuses US Stole 40+ Tons of Its Gold
« Reply #2514 on: March 10, 2019, 01:43:32 PM »

The Syrian National News Agency headlined on February 26th, “Gold deal between United States and Daesh” (Daesh is ISIS) and reported that,

Information from local sources said that US army helicopters have already transported the gold bullions under cover of darkness on Sunday [February 24th], before transporting them to the United States.

The sources said that tens of tons that Daesh had been keeping in their last hotbed in al-Baghouz area in Deir Ezzor countryside have been handed to the Americans, adding up to other tons of gold that Americans have found in other hideouts for Daesh, making the total amount of gold taken by the Americans to the US around 50 tons, leaving only scraps for the SDF [Kurdish] militias that serve them [the US operation].

Recently, sources said that the area where Daesh leaders and members have barricaded themselves in, contains around 40 tons of gold and tens of millions of dollars.

Allegedly, “US occupation forces in the Syrian al-Jazeera area made a deal with Daesh terrorists, by which Washington gets tens of tons of gold that the terror organization had stolen, in exchange for providing safe passage for the terrorists and their leaders from the areas in Deir Ezzor where they are located.”

ISIS was financing its operations largely by the theft of oil from the oil wells in the Deir Ezzor area, Syria’s oil-producing region, and they transported and sold this stolen oil via their allied forces, through Turkey, which was one of those US allies trying to overthrow Syria’s secular Government and install a Sunni fundamentalist regime that would be ruled from Riyadh (i.e., controlled by the Saud family). This gold is the property of the Syrian Government, which owns all that oil and the oil wells, which ISIS had captured (stolen), and then sold. Thus, this gold is from sale of that stolen black-market oil, which was Syria’s property.


https://www.strategic-culture.org/news/2019/03/08/syria-accuses-us-stole-40-tons-of-its-gold.html
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline RE

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👑 Russia and Ukraine are locked in a legal dispute over ancient gold
« Reply #2515 on: March 16, 2019, 04:03:35 AM »
There's a new dimwit born every day.

RE

https://www.nbcnews.com/news/world/russia-ukraine-are-locked-legal-dispute-over-ancient-gold-n982606

Russia and Ukraine are locked in a legal dispute over ancient gold

The collection of artifacts highlights the rich history of Crimea as a staging post at the crossroads between Europe and Asia.

Image: A spiraling torque from the second century A.D., is displayed as part of the exhibit called The Crimea - Gold and Secrets of the Black Sea, at Allard Pierson historical museum in Amsterdam
A spiraling torque from the second century A.D., is displayed as part of the exhibit called The Crimea - Gold and Secrets of the Black Sea, at Allard Pierson historical museum in Amsterdam.Peter Dejong / AP file
March 16, 2019, 12:01 AM AKDT / Source: Reuters

By Yuliya Talmazan

AMSTERDAM — Ukraine and Russia are locked in another heated battle over Crimea.

But this dispute is playing out in court, with the two neighbors locked in a legal fight over a precious collection of gold artifacts from the disputed peninsula.

The collection includes ancient jewelry, gems, helmets and scabbards from four museums in Crimea. It was on loan to a museum in the Dutch capital of Amsterdam in 2014 — around the same time Russia annexed Crimea from Ukraine.
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Five years later, the rare archaeological finds are still caught in the middle as both the Ukrainian government and Crimean museums claim ownership.

The collection highlights the rich history of Crimea as a staging post at the crossroads between Europe and Asia.

“Never before has Ukraine made so many prized archaeological exhibits available on loan,” the Allard Pierson Museum said ahead of displaying the collection in Amsterdam in 2014.

The exhibition included items originating from four museums in Crimea and one museum in Kiev, Ukraine’s capital.

In August 2014, the museum returned the artifacts it borrowed from the National Museum of History of Ukraine. However, after facing “conflicting claims” of ownership from both sides, it is still in possession of 572 disputed items.
A grave inventory of a Late-Scythian elite woman from the first century A.D., is displayed as part of the exhibit called The Crimea - Gold and Secrets of the Black Sea, at Allard Pierson historical museum in Amsterdam on April 4, 2014.Peter Dejong / AP file

In 2016, a Dutch court ruled the artifacts must be returned to Ukraine because they are part of the country's heritage, but the Crimean museums appealed the decision.

An appeal hearing took place in an Amsterdam court Monday, where lawyers from both sides presented final arguments.

Marielle Koppenol-Laforce, a Rotterdam-based lawyer who represents the Crimean museums, told NBC News the museums were the original keepers of the historic artifacts at the time of the exhibition in Amsterdam and they still are.

She says the artifacts were recovered from Crimean soil — a result of many years of archaeological work.

“All they want is to display the treasures,” Koppenol-Laforce said.
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In a joint statement posted online on the day of the appeal hearing, the four Crimean museums said some of their best artifacts were loaned to the Amsterdam museum under the guarantee of unconditional return.

“We are confident that we have undisputed rights to these exhibits,” their statement said, adding that the case should be stripped of all political interference.

Maarten Sanders, one of the lawyers representing the interests of Ukraine, said the annexation of Crimea has been declared illegal by the United Nations, the European Union and many other international bodies.

“On the basis of international law, the Netherlands and its courts should not recognize the annexation,” Sanders said. “This implies that any claim for archaeological finds or cultural heritage from Crimea is to be made by its recognized sovereign state, which is Ukraine.”
Related

Sanders, who is based in Amsterdam, said Ukraine is quoting a 1970 convention of the United Nations Educational, Scientific and Cultural Organization to make its case for ownership. The UNESCO convention deals with illicit import, export and transfer of cultural property.

“So long as the Crimea museums are subject to the authorities of the Russian Federation, and so long as the territory on which they are established is occupied by the Russian Federation, Ukraine cannot exercise its state control over the museums and the collections they hold,” Sanders said. “For so long as this situation continues the treasures are to be kept in Kiev.”

But for now, the artifacts are in the legal care of the Allard Pierson Museum, which will keep hold of them until all appeals are settled.

In an online statement, the museum said it’s staying out of the legal case as it should not be “the party deciding to whom the disputed objects are returned.”
A Chinese lacquer box from the first century A.D., a burial gift for a Late-Scythian woman, is displayed as part of the exhibit called The Crimea - Gold and Secrets of the Black Sea, at Allard Pierson historical museum in Amsterdam on April 4, 2014.Peter Dejong / AP file

Despite the original ruling against her clients, Koppenol-Laforce said she remains optimistic about the outcome of the appeal as the Crimean museums have “strong arguments.”

She says a final decision is expected in mid-June, but that date is not set in stone.

Both Koppenol-Laforce and Sanders do agree on one thing: The case — a legal battle over historical artifacts between two nations that are also embroiled in a territorial dispute — could be precedent-setting.
Yuliya Talmazan

Yuliya Talmazan is a London-based journalist.
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Offline Surly1

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Re: 👑 Russia and Ukraine are locked in a legal dispute over ancient gold
« Reply #2516 on: March 16, 2019, 04:40:40 AM »
There's a new dimwit born every day.

RE
https://www.nbcnews.com/news/world/russia-ukraine-are-locked-legal-dispute-over-ancient-gold-n982606

Russia and Ukraine are locked in a legal dispute over ancient gold

The collection of artifacts highlights the rich history of Crimea as a staging post at the crossroads between Europe and Asia.



Just wondering why you'd say that. I would think a pile of priceless archaeological artifacts might be worth a wrangle.
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Offline g

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Re: Gold & Silver News - Judy Shelton Is Right Nominee for the Fed
« Reply #2517 on: April 25, 2019, 04:33:03 AM »
                           

 Judy Shelton Is Right Nominee for the Fed
                         -Editorial of The New York Sun | April 22, 2019

President Trump was understandably reluctant to accept Herman Cain’s request to drop out as a candidate for the Federal Reserve board. He faced the reality of senatorial spinelessness. Four Republicans had indicated they’d shrink from voting for the former chairman of the Kansas City Fed, at least in part over allegations of long-ago sexual improprieties. They didn’t even wait for a hearing.

The good news is that there is an ideal candidate, the economist Judy Shelton. We had no quarrel with Mr. Trump’s choice of either Stephen Moore or Mr. Cain; they both would be fine governors. Mr. Moore still faces a revolt from the economists’ guild, the geshrai from which, John Tamny has argued, underscores the logic of Mr. Moore, who seems to still be in the running.

Yet even before Mr. Trump announced his plan to nominate either Mr. Moore or Mr. Cain, we’d issued an editorial calling Ms. Shelton “Trump’s Ideal Nominee for the Fed.” She’s an economist and holds a Ph.D. in business. Her main qualification, though, is that over the years she has published a brilliant critique of our monetary policy.

This has unfolded on, among other places, the op-ed pages of the Wall Street Journal, where, during the Great Recession, Ms. Shelton emerged as an advocate of the idea that our economic troubles spring in large part, if not exclusively, from the fiat nature of our currency. And that, as we put it in February, we need to bring back into our political economy the idea of sound money.

The kind of thing that makes us think of Ms. Shelton as so particularly ideal is an op-ed the Wall Street Journal issued arguing that currency manipulation is, just as Mr. Trump warned during the campaign, a real problem. She suggested that defenders of our current “global rules-based trading system” should be “wary of thinking their views are more informed than President Trump’s.”

The president, Ms. Shelton wrote, may have been “branded a protectionist” who is thereby “incapable of exercising world leadership.” Yet those who embrace the virtues of global free trade “disregard the fact that the ‘rules’ are not working for many American workers and companies.” Her long paper trail makes clear she understood that even before Mr. Trump got elected.

Ms. Shelton’s latest opus is out in the Journal this morning under the headline “The Case for Monetary Regime Change.” It notes that since Mr. Trump nominated Messrs. Cain and Moore to the Fed board, commentators have dismissed anyone sympathetic to a gold standard as what she called crankish and unqualified. But, she argued, it is “wholly legitimate” to question the infallibility of the Fed.

“No other government institution had more influence over the creation of money and credit in the lead-up to the devastating 2008 global meltdown,” she wrote. “And the Fed’s response to the meltdown may have exacerbated the damage by lowering the incentive for banks to fund private-sector growth.” She sketched how, even now, $1.5 trillion is “parked” in Federal Reserve district banks.

Ms. Shelton addressed the recent jibe by one of President Obama’s nominees to the Fed, Governor Lael Brainard, about how Mr. Trump’s nominees would need to advance “fact-based, intellectually coherent arguments that are based on evidence, that are consistent over time.” Ms. Shelton suggested the Fed start with a paper called “Reform of the International Monetary and Financial System.”

Issued by the Bank of England in 2011, it concludes that, as Ms. Shelton put it, today’s system has performed poorly relative to prior monetary regimes. She also suggested a look at the Obama administration’s 2015 Economic Report of the President, which, Ms. Shelton noted, “highlights the growth in middle-class incomes during the Bretton-Woods system of fixed exchange rates.”

Ms. Shelton argues that “intellectually fair-minded people should be able to debate the pros and cons of alternative monetary approaches without rancor.” No less a figure than Paul Volcker has argued that “the absence of an official, rules-based, cooperatively managed monetary system has not been a great success.” Now’s the time to elevate to the Fed those like Ms. Shelton with the vision to chart the road to reform.

https://www.nysun.com/editorials/the-right-nominee-for-the-fed/90659/  :icon_study: :icon_study: :icon_study:

                                 
                                   



                                                                                         
« Last Edit: April 25, 2019, 04:47:36 AM by Golden Oxen »

Offline Eddie

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Re: Gold & Silver News - Judy Shelton Is Right Nominee for the Fed
« Reply #2518 on: April 25, 2019, 09:09:46 AM »
                           

 Judy Shelton Is Right Nominee for the Fed
                         -Editorial of The New York Sun | April 22, 2019

President Trump was understandably reluctant to accept Herman Cain’s request to drop out as a candidate for the Federal Reserve board. He faced the reality of senatorial spinelessness. Four Republicans had indicated they’d shrink from voting for the former chairman of the Kansas City Fed, at least in part over allegations of long-ago sexual improprieties. They didn’t even wait for a hearing.

The good news is that there is an ideal candidate, the economist Judy Shelton. We had no quarrel with Mr. Trump’s choice of either Stephen Moore or Mr. Cain; they both would be fine governors. Mr. Moore still faces a revolt from the economists’ guild, the geshrai from which, John Tamny has argued, underscores the logic of Mr. Moore, who seems to still be in the running.

Yet even before Mr. Trump announced his plan to nominate either Mr. Moore or Mr. Cain, we’d issued an editorial calling Ms. Shelton “Trump’s Ideal Nominee for the Fed.” She’s an economist and holds a Ph.D. in business. Her main qualification, though, is that over the years she has published a brilliant critique of our monetary policy.

This has unfolded on, among other places, the op-ed pages of the Wall Street Journal, where, during the Great Recession, Ms. Shelton emerged as an advocate of the idea that our economic troubles spring in large part, if not exclusively, from the fiat nature of our currency. And that, as we put it in February, we need to bring back into our political economy the idea of sound money.

The kind of thing that makes us think of Ms. Shelton as so particularly ideal is an op-ed the Wall Street Journal issued arguing that currency manipulation is, just as Mr. Trump warned during the campaign, a real problem. She suggested that defenders of our current “global rules-based trading system” should be “wary of thinking their views are more informed than President Trump’s.”

The president, Ms. Shelton wrote, may have been “branded a protectionist” who is thereby “incapable of exercising world leadership.” Yet those who embrace the virtues of global free trade “disregard the fact that the ‘rules’ are not working for many American workers and companies.” Her long paper trail makes clear she understood that even before Mr. Trump got elected.

Ms. Shelton’s latest opus is out in the Journal this morning under the headline “The Case for Monetary Regime Change.” It notes that since Mr. Trump nominated Messrs. Cain and Moore to the Fed board, commentators have dismissed anyone sympathetic to a gold standard as what she called crankish and unqualified. But, she argued, it is “wholly legitimate” to question the infallibility of the Fed.

“No other government institution had more influence over the creation of money and credit in the lead-up to the devastating 2008 global meltdown,” she wrote. “And the Fed’s response to the meltdown may have exacerbated the damage by lowering the incentive for banks to fund private-sector growth.” She sketched how, even now, $1.5 trillion is “parked” in Federal Reserve district banks.

Ms. Shelton addressed the recent jibe by one of President Obama’s nominees to the Fed, Governor Lael Brainard, about how Mr. Trump’s nominees would need to advance “fact-based, intellectually coherent arguments that are based on evidence, that are consistent over time.” Ms. Shelton suggested the Fed start with a paper called “Reform of the International Monetary and Financial System.”

Issued by the Bank of England in 2011, it concludes that, as Ms. Shelton put it, today’s system has performed poorly relative to prior monetary regimes. She also suggested a look at the Obama administration’s 2015 Economic Report of the President, which, Ms. Shelton noted, “highlights the growth in middle-class incomes during the Bretton-Woods system of fixed exchange rates.”

Ms. Shelton argues that “intellectually fair-minded people should be able to debate the pros and cons of alternative monetary approaches without rancor.” No less a figure than Paul Volcker has argued that “the absence of an official, rules-based, cooperatively managed monetary system has not been a great success.” Now’s the time to elevate to the Fed those like Ms. Shelton with the vision to chart the road to reform.

https://www.nysun.com/editorials/the-right-nominee-for-the-fed/90659/  :icon_study: :icon_study: :icon_study:

                                 
                                   



                                                                                         

Now that might be interesting. But you might have noticed that Greenspan was a goldbug both before and after his tenure, but not during.

It's like when you get elected POTUS and they take you into a back room and tell you how it's gonna be...and you listen if you're smart. When you get to be a Fed Governor they seem to do something similar. Maybe you have to kiss the ring of a Rothschild and pledge allegiance to Satan.

Have you heard about the Greenspan musical?

<a href="http://www.youtube.com/v/NJYF3-tHboI&fs=1" target="_blank" class="new_win">http://www.youtube.com/v/NJYF3-tHboI&fs=1</a>
What makes the desert beautiful is that somewhere it hides a well.

Offline g

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Re: Gold & Silver News - Judy Shelton Is Right Nominee for the Fed
« Reply #2519 on: April 25, 2019, 02:13:34 PM »
                           

 Judy Shelton Is Right Nominee for the Fed
                         -Editorial of The New York Sun | April 22, 2019

President Trump was understandably reluctant to accept Herman Cain’s request to drop out as a candidate for the Federal Reserve board. He faced the reality of senatorial spinelessness. Four Republicans had indicated they’d shrink from voting for the former chairman of the Kansas City Fed, at least in part over allegations of long-ago sexual improprieties. They didn’t even wait for a hearing.

The good news is that there is an ideal candidate, the economist Judy Shelton. We had no quarrel with Mr. Trump’s choice of either Stephen Moore or Mr. Cain; they both would be fine governors. Mr. Moore still faces a revolt from the economists’ guild, the geshrai from which, John Tamny has argued, underscores the logic of Mr. Moore, who seems to still be in the running.

Yet even before Mr. Trump announced his plan to nominate either Mr. Moore or Mr. Cain, we’d issued an editorial calling Ms. Shelton “Trump’s Ideal Nominee for the Fed.” She’s an economist and holds a Ph.D. in business. Her main qualification, though, is that over the years she has published a brilliant critique of our monetary policy.

This has unfolded on, among other places, the op-ed pages of the Wall Street Journal, where, during the Great Recession, Ms. Shelton emerged as an advocate of the idea that our economic troubles spring in large part, if not exclusively, from the fiat nature of our currency. And that, as we put it in February, we need to bring back into our political economy the idea of sound money.

The kind of thing that makes us think of Ms. Shelton as so particularly ideal is an op-ed the Wall Street Journal issued arguing that currency manipulation is, just as Mr. Trump warned during the campaign, a real problem. She suggested that defenders of our current “global rules-based trading system” should be “wary of thinking their views are more informed than President Trump’s.”

The president, Ms. Shelton wrote, may have been “branded a protectionist” who is thereby “incapable of exercising world leadership.” Yet those who embrace the virtues of global free trade “disregard the fact that the ‘rules’ are not working for many American workers and companies.” Her long paper trail makes clear she understood that even before Mr. Trump got elected.

Ms. Shelton’s latest opus is out in the Journal this morning under the headline “The Case for Monetary Regime Change.” It notes that since Mr. Trump nominated Messrs. Cain and Moore to the Fed board, commentators have dismissed anyone sympathetic to a gold standard as what she called crankish and unqualified. But, she argued, it is “wholly legitimate” to question the infallibility of the Fed.

“No other government institution had more influence over the creation of money and credit in the lead-up to the devastating 2008 global meltdown,” she wrote. “And the Fed’s response to the meltdown may have exacerbated the damage by lowering the incentive for banks to fund private-sector growth.” She sketched how, even now, $1.5 trillion is “parked” in Federal Reserve district banks.

Ms. Shelton addressed the recent jibe by one of President Obama’s nominees to the Fed, Governor Lael Brainard, about how Mr. Trump’s nominees would need to advance “fact-based, intellectually coherent arguments that are based on evidence, that are consistent over time.” Ms. Shelton suggested the Fed start with a paper called “Reform of the International Monetary and Financial System.”

Issued by the Bank of England in 2011, it concludes that, as Ms. Shelton put it, today’s system has performed poorly relative to prior monetary regimes. She also suggested a look at the Obama administration’s 2015 Economic Report of the President, which, Ms. Shelton noted, “highlights the growth in middle-class incomes during the Bretton-Woods system of fixed exchange rates.”

Ms. Shelton argues that “intellectually fair-minded people should be able to debate the pros and cons of alternative monetary approaches without rancor.” No less a figure than Paul Volcker has argued that “the absence of an official, rules-based, cooperatively managed monetary system has not been a great success.” Now’s the time to elevate to the Fed those like Ms. Shelton with the vision to chart the road to reform.

https://www.nysun.com/editorials/the-right-nominee-for-the-fed/90659/  :icon_study: :icon_study: :icon_study:

                                 
                                   



                                                                                         

Now that might be interesting. But you might have noticed that Greenspan was a goldbug both before and after his tenure, but not during.

It's like when you get elected POTUS and they take you into a back room and tell you how it's gonna be...and you listen if you're smart. When you get to be a Fed Governor they seem to do something similar. Maybe you have to kiss the ring of a Rothschild and pledge allegiance to Satan.

Have you heard about the Greenspan musical?

<a href="http://www.youtube.com/v/NJYF3-tHboI&fs=1" target="_blank" class="new_win">http://www.youtube.com/v/NJYF3-tHboI&fs=1</a>

Yes, of course. Power corrupts almost assuredly which is why I'm a Libertarian. Only the dim would appoint a dozen or so imbeciles or academics, whichever one chooses is fine, to try and central plan an economy, especially one with over 300 million people. The very idea is laughable and that is due to the size of their brains to say nothing of the influence peddlers that come their way daily.

What I liked about the lady was her idea of having an open free debate on the matter, lacking in rancor and dealing with factual data with the starting point of such being a paper written on monetary reform emanating from England.

This is my idea of the way to approach the subject, a debate with serious input from all interested parties.

Let me assure you as well that this will do nothing to wake the Dim from their slumber. They will not know, participate or otherwise have the slightest interest in such a mundane topic.

My hope is that it will reach the youngsters and younger adults among us who have a brain and play close attention to these important matters of the Financial universe. A very tiny group.  Goldbugs, let me assure you, have no dream of fixing stupid; only in presenting our case to a wide enough audience to bring a few more into the fold.

                                   




                 


                                                                               

 

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