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Messages - Jb

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1
Diner Anniversary Party Board / Re: The Round Table
« on: February 17, 2013, 11:39:58 AM »
Happy Birthday to the Diner! I hope you can keep the lights on and the coffee hot for another year. Cheers -

2
Golden Oxen Newz / Re: Gold & Silver News
« on: December 31, 2012, 12:22:46 PM »
Interview with Bernard Lietaer with interesting comments on gold vs. US dollar:
Bernard Lietaer - What About Money - Interview by Lars Schall (best interview ever) on Vimeo

3
Golden Oxen Newz / Re: Gold & Silver News
« on: October 26, 2012, 05:33:52 AM »
Quote
@ Jb  I gather you thought it was the proper thing to do.

I have absolutely no idea what the President should or should not have done in 1933 during a 'national emergency.' But I will say this: I think removal of the gold standard was inevitable.

As an independent voter, I could care less who gets elected. Neither of them can print oil or suck CO2 out of the atmosphere. Neither Obama nor Romney has the moral courage befitting the Office of the President. That Obama has followed the same path laid out by Bush/Cheney tells me everything I need to know.

4
Golden Oxen Newz / Re: Gold & Silver News
« on: October 25, 2012, 02:14:50 PM »
Quote
Democrats view other peoples property as theirs, to do with as they please,

Aw, c'mon GO.... really? You're smarter than this. You think a Republican, a Tory, a Canadian, or Zaphod-Beeblebrox would have done otherwise in a "national emergency?" You think everyone involved in this decision was a Democrat? What about the Americans who hoarded 'their' gold? No Republicans among them? Hmmm? Gimme a break.





5
Golden Oxen Newz / Re: Gold & Silver News
« on: October 25, 2012, 01:28:56 PM »
Ok, I'm not an expert, but here's my 2 cents on gold confiscation:

Gold was confiscated because it was being used as currency and hoarded (kept out of circulation) and therefore presented challenges / risks to the government / banks during a 'national emergency.'

Gold is not used as currency today. Hoarding gold does not affect current Treasury operations (see James Turk's post above). Even in 1933, people were allowed to keep certain amounts and types of gold. If you are worried about confiscation, only hold small amounts in small denominations such as 1/10 oz coins.

BTW, it's interesting that the Executive Order #6102 defines a 'person' as an individual, association OR a corporation.



6
Golden Oxen Newz / Re: Gold & Silver News
« on: October 25, 2012, 01:11:38 PM »
"So given this reality about the nature of gold (they can't print it out of thin air), the Treasury had to turn elsewhere to find the gold necessary (1) to keep these banks from defaulting on their bullion obligations arising from their mismatched gold books in an environment where metal had become increasingly difficult to come by and/or (2) to keep the gold price low so that the likelihood of default by the banks would be lessened, even though metal would remain tight because fabrication year after year was exceeding newly mined supply. Rather than accept the bitter pill that certain banks were about to default on their bullion obligations, the Treasury looked for alternatives and found one – they put their hand into the till, until recently known as the Gold Bullion Reserve at West Point."


http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/25_James_Turk_-_The_Entire_German_Gold_Hoard_Is_Gone.html


7
Sustainable Energy / Re: Are we kidding ourselves?
« on: October 13, 2012, 02:09:10 PM »
Buzzard,

Bingo. The minute we separated ourselves from the natural flows of energy, we were doomed. We've borrowed, cajoled, begged, hidden and obfuscated the underlying truth for so long, we don't know how to find our way back home anymore.

Cheers -

8
Perhaps it's a temporary shortage due to the factors described but the narrow ledge is pretty tight in CA:

http://www.bloomberg.com/news/2012-10-03/california-gas-stations-begin-to-shut-on-record-high-spot-prices.html

9
Golden Oxen Newz / Re: Gold & Silver News
« on: October 03, 2012, 10:38:39 AM »
Quote
The only question is can it work with a debt load this gigantic, and for how long.

Maybe they only have to keep it going until something or someone else blinks first. Speaking of which, Iran's economy is imploding: http://www.bbc.co.uk/news/world-middle-east-19812482


10
Golden Oxen Newz / Re: Gold & Silver News
« on: October 03, 2012, 08:49:21 AM »
Here's Bill Gross:

"Unless we begin to close this gap, then the inevitable result will be that our debt/GDP ratio will continue to rise, the Fed would print money to pay for the deficiency, inflation would follow and the dollar would inevitably decline. Bonds would be burned to a crisp and stocks would certainly be singed; only gold and real assets would thrive within the “Ring of Fire.

http://www.pimco.com/EN/Insights/Pages/Damages.aspx

Sounds like the default plan to me.

11
Golden Oxen Newz / Re: Gold & Silver News
« on: October 01, 2012, 07:12:19 AM »
Quote
Gold perking along nicely huh Jb?

Went away for the weekend; wife and I celebrating our 20th. Nice to come back to the pop in PMs today; silver going over $35.

http://www.zerohedge.com/news/2012-10-01/gold-touches-2012-highs

Although I was extremely disappointed to read:

http://www.reuters.com/article/2012/09/28/us-cftc-positionlimits-idUSBRE88R1C120120928

Onward!

12
Golden Oxen Newz / Re: Gold & Silver News
« on: September 28, 2012, 05:09:37 AM »
Agreed; thanks GO.

13
Golden Oxen Newz / Re: Gold & Silver News
« on: September 18, 2012, 06:15:42 AM »
alan2102,

Thanks for the links. It seems like such a Herculean task for the Chinese to diversify at this point. If the Chinese continue on this path, then I think you're right: 'the present secular bull market in gold is today in its early infant stages.'

14
Golden Oxen Newz / Re: Gold & Silver News
« on: September 13, 2012, 09:56:44 AM »
Rickards was correct (again):

"So look for the following sequence of events. On August 31, the Fed will give strong indications that more quantitative easing should be expected if economic conditions do not show substantial improvement. On September 6, expect the European Central Bank to lower its main lending rate by 25 basis points to 0.50 percent. Then on September 7 look for an employment report weaker than consensus estimates due partly to quirks in seasonal adjustments. This will give the Fed economic justification and political cover for the start of a new quantitative easing program on September 13. This double-dose of ECB and Fed ease should give stock markets a lift through the fall at least until the twin dangers of the fiscal cliff and war with Iran stare investors in the face later this year."

Source: http://www.usnews.com/opinion/blogs/economic-intelligence/2012/08/20/how-china-is-driving-federal-reserve-policy

http://www.zerohedge.com/news/market-response-goldsilvertreasury-yields-spike-equities-less-sure

I might have to open a home-brew this afternoon.

15
Geopolitics / Re: FSofA Ambassador to Libya now DEAD!
« on: September 12, 2012, 06:45:05 AM »
Quote
Clearly of course we did a real good job down there in Libya frying Saddam,

I think you have your tyrants mixed up.

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