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Is Gold a Bubble? Will it be Useful for TEOTWAWKI/SHTF?

29 May

Mark Dice recently interviewed at least a dozen people right next to a coin shop. No one has any idea what it is worth. If you think precious metals are in a bubble you are mistaken. Although Dice is a bit abrasive, the addition of the coin shop right next to him to the scenario is incredibly telling. Most people simply dismiss him, regardless of the benefit a little investigation might bring.

Additionally, this should probably indicate that storing gold or silver for a SHTF scenario may be a bad idea. It will likely be worth a lot and people still won’t care. When will this change? It will change when any economy tries to recover from the fiat money-printing fiasco.

Video

Fascinating Interview with Biographer of Blythe Masters (in English)

17 May

This interview presents the raw perspective of a journalist, Pierre Jovanovic, who spent several years researching the career of Blythe Masters. His comments are extremely insightful for everyone who wants to understand who she is and what she has done. Unfortunately, his book is only available in French. This interview is the only means I know of to access the core of what he addresses in his book.

For those of us who are familiar with Masters, much of what he has to say is merely confirmation of we know. What’s interesting is how seriously this man, who is more of a journalist than an economist, reacts to Masters’ effect on the global landscape.

I am deeply grateful for this opportunity to finally hear his thoughts. I encourage you to check out his website that says more about the book: http://jovanovic.com/angeQDM.htm. Thankfully, non-French speakers can use translation features in their browser (available at least in Chrome) to understand the page. Hopefully the book comes out in English too.

Jamie Dimon’s Obfuscation = JP Morgan’s Guilt?

13 May



I want to draw your attention to one of the most important things Jamie Dimon said to David Gregory in their recent conversation of JPM’s $2 billion proprietary trading loss:

GREGORY: The immediate question, the SEC is looking into this: Did the bank break any laws? Did it violate any accounting rules or SEC rules?

DIMON: So we’ve had audit, legal, risk, compliance, some of our best people looking at all of that. We know we were sloppy. We know we were stupid. We know there was bad judgment. We don’t know if any of that is true yet. Of course regulators should look at something like this, that’s their jobs. So we are totally open to regulators and they will come to their own conclusions. But we intend to fix it and learn from it and be a better company when it’s done.

The question Gregory asked was extremely simple: did you break any laws, accounting rules, or SEC rules? The answer Dimon gave was essentially this: “We’ve looked into it and I know the answer, but I’m not going to say right now what it is.”

Think about all the different things he could have said. Think about why he might have said this. This is bad, folks.

When baseball players are asked to testify before Congress about steroid usage, they obfuscate like this. When cyclists are asked to testify about blood doping, they obfuscate like this. When Jon Corzine responds to questions about MF Global, he obfuscated like this. Why? Because the level of cover-up is so massive that drawing any attention to the truth is overwhelmingly frightening for them. What you see from Mr. Dimon is a high level of fear about what this problem means for him, his bank, America, and the world.


Video

Something to Think About

9 May

I write about gold and silver. I write about why our economy is where it is and where it might go. But when I think about what that will look like, I’m not happy about it.

There are people in the precious metals trade who feel the way I do. Guys like Chris Martenson, Peter Schiff, and others.

And then there are people that seem to be emotionally attached to gold and silver sky-rocketing one day. When it goes down they cry and talk about their pain and lament the powers that be “smacking it down”. I get that things shouldn’t be manipulated. But you should never feel that emotional about money.

Furthermore, think about this video, which shows what Zimbabwe is like: a place where paper money is worthless and gold is everything. It’s pretty awful.

Just think about that, next time you start hoping for silver or gold to double or triple. Be real. Focus on what matters.

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Money Printing and The Sex Tourist Industry

28 Apr

Further Abuse of American Fiat

I highly recommend reading this fascinating account from John Keatley, an American photographer who went to the Philippines to do an exposé on the sex-tourist industry, which is also highly recommended.

Ironically, he ran into a politician from New Mexico, who was frequenting the Red Light District of Angeles. Not only was this politician aware of John’s presence, but encouraged him to take pictures of him and email them to him. After the story broke, Keatley was interviewed about it as well as the politician.

In this blog, we often uncover and discuss the injustices that come America’s abuse of its economic superiority, most notably trade manipulation through money-printing. But the whole spectrum of our abuse is much broader. This is just one more example of it. Ever since World War 2, which my financial readers know was the economic peak of America, GI’s, tourists, and businessmen have frequented Angeles, and other developing nations for cheap sex.

Why does this happen? Simply because our currency, though much of it is not earned but printed from nothing, is still highly valuable, causing other countries contort their entire legislative system to accommodate American lust.

If this is how we want to utilize our “prosperity”, we deserve a depression.

Inflation – Why it Matters

9 Apr

In the media climate of America in 2012, headlines have focused on some of the most inconsequential nonsense of our history. Celebrity deaths, Kardashians, Rick Santorum’s sweater vests, the Catholic church’s view of contraception, and the last 35 or so debates between Republican candidates which only led us to find the guy everyone liked most at the beginning is the one they like most in the end.

Why does the news cycle focus so much on things that are so far from being important? I have no idea. But I do know who enables them: you and me. When we talk about this nonsense, when we re-post it, and when we google it, we pay back the advertisers for every dime they pour into the media.

Image What should they be talking about? Cereal.

Continue reading

Video

Why War is Not Good for the Economy

4 Apr


Created by www.learnliberty.org.

Haven’t you heard that what got America out of the Great Depression was _________ _____ __ ? If you can’t fill in the blank you were probably not raised in the American public school system. It is almost essential to our public mindset that either FDR’s domestic programs (those which weren’t struck down by the Supreme Court) or his foreign policy (entering into World War 2) caused us to grow as an economy.

It’s just not true