I had heard he did that. LOL.
It’s too bad the morons in this country have decided to go down the same path the Europeans took. Even as we watch them go over the cliff, we skip merrily along behind them.
But brass and lead.
This is how wars start.
The money is running out.
Nothing left to loot.
Jesse's Cafe Americain
May. 11, 2010, 5:35 PM
The return on each new dollar of US debt is plummeting to new lows according to figures from the Federal Reserve.
The chart below is from the essay, Not Just Another Greek Tragedy by Cornerstone.
I have been watching this chart for the past ten years, as part of the dynamic of the sustainability of the bond and the dollar as the limiting factor on the Fed's ability to expand the money supply.
The ability to expand debt is contingent on the ability to service debt. If the cost of the debt rises over the net income of the country's capital investment, or even gets close to it, the currency issuing entity is trapped in a debt spiral to default without a radical reform.
In other words, if each new dollar of debt costs ten percent in interest, largely paid to external entities, and it generates less than ten cents in domestic product, it is a difficult task to grow your way out of that debt without a default or dramatic restructuring.
[snip]
John Maynard Keynes was from the UK. The UK is going to drag us down into the abyss of destruction one way or another.
Stock-Markets / Stock Markets 2010
May 11, 2010 - 01:04 PM
By: PhilStockWorld
Does anything about this ride feel familiar? Oh yes, that’s right - good old 2008, when the "minor correction" of 2007 was behind us and the Dow rallied back from 11,500 to 13,200 based on stimulus packages, fake economic data and even faker earnings reports where banks, builders, automakers and retailers all lied, lied and lied (or perhaps they were just totally, densely ignorant) about their outlook and their operations and CNBC et al lied to investors and told them to BUYBUYBUY while the smart funds were SELLSELLSELLing as fast as they could.
[snip]
Germany went along with the bailout because the EU is a vehicle for Germany to control Europe via economics (instead of panzers). PM Merkel had to make a decision. If she does not help EU bailout Greece, EU (especially the Eurozone) will cease to exist as individual countries will convert back to their own currencies instead of relying on the ECB. Germany will lose their ability to control Europe. No German leader will relinquish such power.
I have been predicting this since 1965, when I was twelve years old, and they took the silver out of the coins. The closing of the gold window in 1971 just made it more certain.
Anyone with a grasp of what money really is has known this would happen ever since then. It was just a matter of time.
The printing presses will be run faster and faster and faster and faster and faster. There will be one final flurry of absolutely worthless paper (worthless except for burning in barrels for warmth under the underpass) and it will be all over.
We can start with a new monetary system on the Monday morning after. A monetary system based on the gold and silver that smart people hoarded.
bttt
So when this Bass guy increases his holdings of AU, do they have physical Gold locked up in a vault somewhere or is it in paper or mining stocks?