Bankers are truly parasites. Gold now at 1821.0...
Yesterday that not-so crazy-all-of-the-time Hugo Chavez and Venezuela said they were "nationalizing" their gold industry. This is code for we want our gold back, chop chop. http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=133721&sn=Detail&pid=102055
Many people don't understand that gold bankers leverage gold much like they leverage dollars. However, gold- unlike dollars- can't be counterfeited. There is no FED bailout plan for banks that are extremely over leveraged and can't deliver the physical goods. Therefore, when the true owner of 99 tons of gold wants physical delivery...it's deliver or default. The loss of the underlying commodity causes liquidity to dry up and all of those paper claims get settled in paper...or not at all. Now if just a few more big holders of gold demand their goods back...there is a saying for this...
Venezuela has about 300 tons on deposit around the world. A third of that, 99 tons, is stored with the Bank of England.
Post Script Update* Gold has soared nearly 100 dollars an ounce since this story broke last week.
He who panics first, panics best. Hugo "Chop Chop" Chavez may not be entirely crazy.
Thursday, August 18, 2011
Inflation Way Up, Unemployment Claims Up, Gold Way Up, Existing Home Sales Way Down, Market Way Down, Having Done Such Fantastic Work- Obama Leaving On Vacation
Geezus. You just can't make this stuff up. Obama isn't just ineffective, he is contemptible. http://money.cnn.com/2011/08/18/news/economy/inflation_cpi/index.htm?iid=H_BN_News
Wednesday, August 17, 2011
Obama Said, "After Three Years, If I Don't Have This Economy Turned Around, I'll be a One Term President
Remember this? I have one word for Obama. Adios.
Norveejan Logistics
> President Barack Obama was in the Oval Office when his telephone rang.
> "Hello, President Obama," a heavily accented Norwegian voice said. "'Dis here is Sven, over here in Dulut, Minnesota .
>
> Ve don't like some a yer policies so I am callin' to tell ya that we are
> officially declaring war on ya!"
>
> "Well, Sven," Barack replied, "This is indeed important news! How big is your
> army?"
> "Right now," said Sven, after a moment's calculation, "there is myself, my
> cousin Knute, my next-door-neighbor Ole, and the whole pool team from the
> Rod."
> Barack paused, "I must tell you, Sven, that I have one million men in my army
> waiting to move on my command."
> "Wow," said Sven, "I'll haf ta call ya back!"
> Sure enough, the next day, Sven called again. "Mr. Obama, da war is still on!
> We have managed to acquire some infantry equipment!"
>
> "And what equipment would that be, Sven?" Barack asked.
> "Vell sir, ve got two combines, a bulldozer, and Sigurd's farm tractor."
> President Obama sighed. "I must tell you, Sven, that I have 16,000 tanks and
> 14,000 armored personnel carriers. Also I've increased my army to one and a
> half million since we last spoke."
>
> "All right den," said Sven. "I'll be getting back to ya."
> Sure enough, Sven rang again the next day... "President Obama, da war is still
> on! We have managed to git ourselves airborne!
>
> We up an' modified Ole's ultra-light vit a couple'a shotguns in da cockpit,
> and four boys from the coffee shop haf joined us as vell!"
> Barack was silent for a minute then cleared his throat.
>
> "I must tell you, Sven, that I have 10,000 bombers and 20,000 fighter planes ..
> My military complex is surrounded by laser-guided, surface-to-air missile
> sites.
>
> And since we last spoke, I've increased my army to TWO MILLION!"
> "Two million you say?," said Sven, "l'll haf' to call you back."
> Sure enough, Sven called again the next day. "President Obama! I am sorry to
> have to tell you that we have had to call off this here war."
> "I'm sorry to hear that," said Barack.
>
> "Why the sudden change of heart?"
> Vell, sir," said Sven, "we've all sat ourselves down and had a long chat over
> a few beers, and come to realize that there's yust no vay ve can feed two
> million prisoners."
> "Hello, President Obama," a heavily accented Norwegian voice said. "'Dis here is Sven, over here in Dulut, Minnesota .
>
> Ve don't like some a yer policies so I am callin' to tell ya that we are
> officially declaring war on ya!"
>
> "Well, Sven," Barack replied, "This is indeed important news! How big is your
> army?"
> "Right now," said Sven, after a moment's calculation, "there is myself, my
> cousin Knute, my next-door-neighbor Ole, and the whole pool team from the
> Rod."
> Barack paused, "I must tell you, Sven, that I have one million men in my army
> waiting to move on my command."
> "Wow," said Sven, "I'll haf ta call ya back!"
> Sure enough, the next day, Sven called again. "Mr. Obama, da war is still on!
> We have managed to acquire some infantry equipment!"
>
> "And what equipment would that be, Sven?" Barack asked.
> "Vell sir, ve got two combines, a bulldozer, and Sigurd's farm tractor."
> President Obama sighed. "I must tell you, Sven, that I have 16,000 tanks and
> 14,000 armored personnel carriers. Also I've increased my army to one and a
> half million since we last spoke."
>
> "All right den," said Sven. "I'll be getting back to ya."
> Sure enough, Sven rang again the next day... "President Obama, da war is still
> on! We have managed to git ourselves airborne!
>
> We up an' modified Ole's ultra-light vit a couple'a shotguns in da cockpit,
> and four boys from the coffee shop haf joined us as vell!"
> Barack was silent for a minute then cleared his throat.
>
> "I must tell you, Sven, that I have 10,000 bombers and 20,000 fighter planes ..
> My military complex is surrounded by laser-guided, surface-to-air missile
> sites.
>
> And since we last spoke, I've increased my army to TWO MILLION!"
> "Two million you say?," said Sven, "l'll haf' to call you back."
> Sure enough, Sven called again the next day. "President Obama! I am sorry to
> have to tell you that we have had to call off this here war."
> "I'm sorry to hear that," said Barack.
>
> "Why the sudden change of heart?"
> Vell, sir," said Sven, "we've all sat ourselves down and had a long chat over
> a few beers, and come to realize that there's yust no vay ve can feed two
> million prisoners."
Hmmm...President Clinton Came From the Chicken State, Now The U.S. Is Buying Chicken? WTF?
Th latest government insanity. Now intervening in the chicken market- buying 40 million dollars worth of excess chicken to support prices.
Free markets? In Russia maybe. Definitely not here. http://money.cnn.com/2011/08/16/news/economy/chicken_prices/index.htm?iid=HP_LN
Free markets? In Russia maybe. Definitely not here. http://money.cnn.com/2011/08/16/news/economy/chicken_prices/index.htm?iid=HP_LN
President Screw Off Receives 80% Approval Rating- From Muslims
Go figure. The rest of us give him 39% and that's being generous. http://www.libertarianrepublican.net/2011/08/obamas-approval-with-americans-down-to.html
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