Monday, December 27, 2010

Remember when things were built to last?

Mr. Allen Swift ( Springfield , MA.) received this 1928 Rolls-Royce Picadilly P1 Roadster from his father, brand new - as a graduation gift in 1928. He drove it up until his death last the age of 102 !! He was the oldest living owner of a car from new. Just thought you'd like to see it. He donated it to a Springfield museum after his death. It has 170,000 miles on it, still runs like a Swiss watch, dead silent at any speed and is in perfect cosmetic condition. (82 years) That's approximately 2000 miles per year...

History lesson on Currency Debasement

Nero the Roman Emperor feared being lynched if the people caught him debasing their money and went to great lengths to hide his crimes. Yet Ben Bernanke proudly boasts that he is debasing the people's money on 60 minutes and is still able to walk the streets.

It must be our greater level of education and intelligence compared to those simple Romans that has allowed us to overcome such silly notions of money being a store of value. Even America's founding fathers as recently as 1792 also held this primitive notion that any one debasing the people's money should be put to death.

Isn't wonderful we have managed to over come such primitive thoughts and the no doubt turmoil that a stable store of value must have reeked on the ancients.

Gold Silver, platinum & palladium fall after China rate rise

Dec 26 (Reuters) - Spot gold prices dropped by almost 1 percent on Monday after China raised interest rates on Christmas Day, the latest in a series of measures to cool inflation which is running at its highest in over two years.

Gold dipped to $1,373.20 an ounce early on Monday, from Friday's notional close of $1,384.25. By 2324 GMT, gold stood at $1,375.10.

China's central bank raised interest rates on Saturday for the second time in just over two months as it stepped up its battle to rein in stubbornly high inflation.

Dec 27 (Reuters) - Spot silver fell 1.2 percent to $28.86 an ounce, and spot platinum also fell 1.2 percent to $1,701.49 an ounce by 2341 GMT, after China raised interest rates on Christmas Day.

Spot palladium declined nearly one percent to $746 an ounce.


By Darryl Robert Schoon:


In 2008, America suffered a massive economic heart attack. Its doctors, thought to be the world’s best, believed the US to be in good health, having recovered from a similar though smaller crisis in 2000.

But America hadn’t recovered. In fact, the Fed’s palliative for the 2000 crisis, i.e. lower interest rates, soon created an even larger crisis, i.e. the 2002-2006 US housing bubble whose collapse caused global credit markets to contract and investment banks to fall,necessitating government intervention on such a massive scale it led to today’s sovereign debt crisis as private losses were absorbed onto public balance sheets; and, now, in 2010, the crisis continues to fester and spread.

Fed Chairman Ben Bernanke’s solution for our current problems is but a more extreme version of the Fed’s near fatal prescription in 2001, i.e. lower interest rates, but this time combined with a new iteration of voodoo economics, a witch’s brew called QE II, a monetary gesture as futile and impotent as a Hail Mary pass thrown by an atheist as time runs on

The most insightful news show of 2010 - Rap News