Saturday, May 19, 2012
Questions are Decadent
May 18, 2012 by TheAlexJonesChannel
An apology for the "mistake" in Barack Obama's official biography that said he was 'Born in Kenya' has conveniently been rushed out onto the world scene in rapid-response to the bombshell published today at Breitbart.com and made truly viral at the Drudge Report, along with a new media fiction theorizing that the "mistake" may well have given birth to 'birther rumors' in the first place.
An apology for the "mistake" in Barack Obama's official biography that said he was 'Born in Kenya' has conveniently been rushed out onto the world scene in rapid-response to the bombshell published today at Breitbart.com and made truly viral at the Drudge Report, along with a new media fiction theorizing that the "mistake" may well have given birth to 'birther rumors' in the first place.
Facebook goes public
Facebook goes public, what couldn't they work out the privacy settings either?
May 18, 2012 by AlJazeeraEnglish
May 18, 2012 by AlJazeeraEnglish
Friday, May 18, 2012
Weekend Chillout - Running
With bank runs in Greece and denials of bank runs in Spain, it reminds us that when our Governments tell us not to panic, it is because we really should.
Gold Tells The Truth
By John Aziz of Azizonomics
One of gold’s greatest powers is that it is a unit of account which cannot be fudged nearly as easily as the fiat all-you-can-print buffet.
Feel like your wages are buying less in real terms?
They are:
Feel like your dollar is buying less, even though the financial press claims that the dollar is strong?
It is buying less — but so are the other fiat currencies:
Feel like the housing bubble hit you hard?
It hit you harder in gold-denominated terms:
Feel like you have less disposable income?
You do:
Feel like U.S. treasuries are really falling in value, even though the popular press keep telling investors that treasuries are priced at all-time highs?
John Maynard Keynes, Charlie Munger and Warren Buffett all said or implied that gold was a barbarous relic. But what’s the barbarous relic? The precious metal that shows prices without a veneer of manipulation, or the paper currency that smudges the true state of supply and demand through money printing, thus misleading markets and society? Charlie Munger says gold is not for civilised people, but in reality gold may be the most civilised currency of all — because it allows civilised people to purchase insurance against the risk of civilisation failing.
A central bank can claim to have demonetised gold. It can claim gold is a barbarous relic (even while keeping thousands of tonnes on its books), or just an “instrument to hedge tail risk” (although Jamie Dimon surely disagrees — J.P. Morgan prefers to “hedge tail risk” by making huge speculatory prop bets on credit derivatives).
But gold is still gold. It’s still that same shining yellow metal that investors have for thousands of years held up as a unit of account and store of value, and a medium of exchange.
Central bankers can’t just abolish history. On the other hand, history may very well abolish the central bankers and their fiat currencies.
One of gold’s greatest powers is that it is a unit of account which cannot be fudged nearly as easily as the fiat all-you-can-print buffet.
Feel like your wages are buying less in real terms?
They are:
Feel like your dollar is buying less, even though the financial press claims that the dollar is strong?
It is buying less — but so are the other fiat currencies:
Feel like the housing bubble hit you hard?
It hit you harder in gold-denominated terms:
Feel like you have less disposable income?
You do:
Feel like U.S. treasuries are really falling in value, even though the popular press keep telling investors that treasuries are priced at all-time highs?
John Maynard Keynes, Charlie Munger and Warren Buffett all said or implied that gold was a barbarous relic. But what’s the barbarous relic? The precious metal that shows prices without a veneer of manipulation, or the paper currency that smudges the true state of supply and demand through money printing, thus misleading markets and society? Charlie Munger says gold is not for civilised people, but in reality gold may be the most civilised currency of all — because it allows civilised people to purchase insurance against the risk of civilisation failing.
A central bank can claim to have demonetised gold. It can claim gold is a barbarous relic (even while keeping thousands of tonnes on its books), or just an “instrument to hedge tail risk” (although Jamie Dimon surely disagrees — J.P. Morgan prefers to “hedge tail risk” by making huge speculatory prop bets on credit derivatives).
But gold is still gold. It’s still that same shining yellow metal that investors have for thousands of years held up as a unit of account and store of value, and a medium of exchange.
Central bankers can’t just abolish history. On the other hand, history may very well abolish the central bankers and their fiat currencies.
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