Friday, 12/6, Market WrapUp (Unemployment Report Overshadowed by New Economic Team)

Financial Sense Online ^ | 12/6/2002 | Michael Hartman

[Orion]

They claimed that the "criminal" Bush clan announced the resignations to cover up the unemployment reports.

I do find it interesting that just as the wheels were about to come off the bus, on a Friday where big news is coming on the geopolitical front, suddenly two Administration money guys get sacked.

I'm sure there is more to it, but the timing is very Clintonesque.

[arete]

I'm sure there is more to it, but the timing is very Clintonesque

Right out of the Clinton playbook. They sure as heck didn't want the unemployment numbers to be the topic of conversation over the week-end and they sure didn't want the stock market tanking as it was about to do. By next month, we'll probably be marching on Baghdad so they won't have to worry about pushing the employment numbers off the headlines.

Richard W.

[arete]

Gold Derivatives: Moving towards Checkmate

Well I read it twice and found it to be way to complex for me to fully appreciate. I take it that the CB's have leased out their national treasures (gold reserves) and it can't be replaced without driving the price of gold through the roof -- is that about it? What if they simply "nationalize" the bullion banks? Is that possible?

Richard W.

[arete]

David,

Do you want to give us your condensed, not too many details, of the important points and conclusions of the article and how that is going to affect us in the future? Any idea of the CB's game plan if you eliminate the "stupid decisions" aspect?

Richard W.

[razorback-bert]

change the bankruptcy rules

I too dislike bankruptcy, but this new bill is nothing but a save the credit card companies butt. I have been burned by bankruptcys and learned to be tighter in my credit policies, but the cc just keep expanding their lending to more and less credit worthy people. The new law appears to me to be a way of having the courts collect for them, by forcing people into chapter 13.

[dalereed]

The one thing that hasn't been given much mention is the islamic nations converting from paper money to gold coins.

This is going to put a hugh drain in the available gold for jewlery and industrial uses to the rest of the world and could drasticly increase the price.

[dalereed]

"The new law appears to me to be a way of having the courts collect for them, by forcing people into chapter 13."

Credit cards are no different than any other debt, everytime you sign when you use it you obligate yourself to pay for the purchase.

I have a credit card and use it but the full ballance is paid every month, it's a convienence, not a borrowing instrument!

In my 65 years I have always lived by the rules taught to me by my parents, never borrow for personal consumption except for a home mortgage and have never bought anything on time payments.

If you can't pay for it, you don't need it! I even saved up the full purchase price to purchase my airplane, it delayed my flying by a number of years but at least when I totaled it I didn't owe anyone any money.

[arete]

If you can't pay for it, you don't need it! I even saved up the full purchase price to purchase my airplane, it delayed my flying by a number of years but at least when I totaled it I didn't owe anyone any money.

Hard landing?

Richard W.

[arete]

Thank you for explaining that. Is it that simple? What is to prevent the bullion banks from just closing their doors and walking away without coming up with the metal? CB's shouldn't care cause they don't want the POG up anyway and it may just serve the puppet masters purposes in the long run.

Richard W.

[dalereed]

Sorry to say but it now resides in a salvage yard in Mexico City. At least I didn't kill the 5 doctors and nurses I had with me or myself so I guess an optimist would say it was a "hard landing" but a successful one.

The sad part was that I only had it insured for $50k and when I crashed it the same year and model prices ranged from $187k to $225k.

[arete]

If any player could have accumulated, and could afford a 5% holding of the world's gold supply over the last 200 years, it would be the Rothschilds.

I'd say that the little city state in Rome could be a hundred years ahead of the Rothschilds. Just think of the history there.

Richard W.

[arete]

be a hundred years ahead of the Rothschilds. Just think of the history there.

Make that about 1800 years. Love to have a peek inside those vaults.

Richard W.

[Orion]

Right out of the Clinton playbook. They sure as heck didn't want the unemployment numbers to be the topic of conversation over the week-end and they sure didn't want the stock market tanking as it was about to do.

The scary thing is if Bush has learned this from Clinton, what else has he learned? What are his priorities? Clinton never had the Everlasting War on Terrorism, the Patriot Act, Campaign Finance Reform, and the Dept. of Homeland Security.

When the economy gets fugly, what can we expect? I suspect we will get lots of dead Arabs, the printing presses running day/night, lots of Americans in prison without access to lawyers or trials, and a total information system that will be used to supress dissent.

[arete]

Believe me, I share your concerns. Many things that I have seeing that I consider very troubling. I have a very uneasy feeling.

Richard W.

[arete]

Here is a series of links to Puplava's Financial Sense Newshour audio. It's always intesting.

1st Hour

2nd Hour

Neal Adams

Topics discussed:10-Sigma; Dollar Devaluation; Technical Positions of the Market; Brace Yourself For the First Quarter

Richard W.

[arete]

That be -- intesting = interesting

Richard W.

[headsonpikes]

Thanks for the link in #4.

The music will stop. Got gold?