Posted on 09/19/2008 3:59:48 PM PDT by Perdogg
A rumor is swirling around the Internet that an inglorious end to the U.S. economy is imminent. Unlike previous rumors to this effect, this one carries the weight of recent events in the financial realm and has many believing the rumor will come to pass.
Let's examine some of the claims being made: On March 18, 2008, a "closed door" session of Congress was held for only the fourth time in history. According to House Rule XVII, clause 9, it is forbidden for members of the U.S. House of Representatives to reveal the discussions held behind those doors. The penalty for leaking such information includes loss of seniority, fines, reprimand, censure or expulsion. According to news sources, one purpose of the meetings was to discuss new surveillance techniques to be used by U.S. Homeland Security. Rumors continue to swirl as to what the other topics of discussion took place in that meeting.
(Excerpt) Read more at 321gold.com ...
EXCELLENT counsel.
It’s worse. I heard there is an inherent flaw in all computers and embedded controller chips such that at midnight on New Years Eve, those devices will stop working.
Death! Famine! SMOG! will result!
Oh, wait.
Nevermind.
I agree, but I suspect they followed the law, so I’m not sure how they can get socked for it.
susie
Oh, and thanks for the Kewpie doll...cute!
However it seems very funny to me that the market has turned around because everyone is talking about cash infusion and bailouts. Is it worthy to note that they have not done any of the things the fed has talked about this week. The 85 billion to bailout A.I.G. has not come forth, (they can’t find the cash) The purchase of the bad debt from the banks has not happened, so far it is just talk, and yet the markets turned around. Perchance I am crying WOLF, time will tell. No bank has ever cave me a dime unless all the paperwork was in order, why should I believe the fed and the goverment will do otherwise. Just ramblings of concern. How will the markets react should they come out Monday and say sorry we just can’t take all that on?
This is the intended purpose of FNMA, FHLMC, etc. to provide "liquidity" to the mortgage market & enable primary lenders to move liabilities off their books & make more loans. Of course these lenders will then be less inclined to screen borrowers, ESPECIALLY when the government further mandates they make risky loans in the interest of "making homes affordable to the less fortunate".
They've got to put the "free" back in free market.
Jeez, next thing they’ll be meeting a Jekyll Island and creating a whole new banking system, or worse, get together behind closed doors in Philadelphia and creating a whole new government.
The great unanswered question about gold is, "What next?" Once you have sold your gold at incredibly high prices, you have nothing else to invest in, because to buy more gold costs even MORE money. And you can't eat gold. And it costs you money to just sit on gold, because it doesn't create any wealth through investment on its own.
At the same time some people like Ravi Bahtra were prophesying great ruin, others were predicting a 30,000 DOW. One of the two was bound to be right. It didn’t mean they were particularly insightful: it meant they sold some books.
okay, so buy silver. You can actually use silver coins.
Good advice. Hard to repossess what you own.
I agree: but the punishment needs to cut both ways. How about the corrupt homeowners who took out NO INTEREST DOWN loans? Both they, and the bankers who gave them that loan, should be punished.
True-—but once again as a medium of exchange, not as an investment. They don’t have investment value because to gain the value, you have to sell: they don’t produce dividends.
The markets, after huge rallies the past 2 days, and up over 100 points Tue, are where they were a week ago
I could do with some Road Warrior action. I have a badass Mustang and I'd look good in a mohawk.
What was the law, the Community Reinvestment Act or something? Boortz had a column yesterday on it.
Sure as an investment. You buy it now when the value of dollars are relatively high, and when Mel Gibson comes riding through town chasing a band of bikers with mohawks, you exchange it for a much higher value than some Federal Reserve Notes.
All this mega billions of bailouts are going to accomplish is the severe devaluation of dollars. By buying hard assets, you’re in effect shorting the Fed’s monopoly money.
>>I could do with some Road Warrior action. I have a badass Mustang and I’d look good in a mohawk.<<
LOL!
I want to see pics!
I’m at the bottom of my home page. I don’t have any pics of the Mustang though.
I think the best thing about Road Warrior action would all those civilized women in the compounds just waiting for easy pickins from savages like me ;)
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