The Ring Master, floridagold

As you know, it’s not just in the hearing of what a wise person says that matters most, it’s all in the doing.  Cheers!  *GB

So, what have we learned in 2064 years? 

“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.”
-     Cicero
 (55 BC)

the evergreen Richard Russell does it again

——————————-

On the December 28 site, I put forth my theory regarding what the Fed (and probably the administration) plan to do about our insane multi-trillion dollar debt. I want to start with three assumptions:

(1) The people at the Fed are not stupid, they are as intelligent as you or I. True, they are operating outside of the US Constitution, but who cares about the Constitution today (well, maybe Ron Paul does)?

(2) The multi-trillion dollar debt of the US is so fantastical, so insane, that it can never, ever, be paid off, either by raising taxes or by borrowing. Furthermore, the interest on the US debt is rising and compounding at a dangerous and relentless pace.

(3) I believe Obama and probably Bernanke have been greatly influenced by the policies of the Roosevelt administration during the Great Depression of the 1930s. I’ve felt all along that Obama has followed Roosevelt’s strategies. In 1931 Roosevelt, to offset deflation, raised the price of gold from 20.67 to 35 dollars an ounce.

A few days ago I received a paper, signed anonymous, that expanded my December 28 piece. The paper was written so clearly and so well, that I want to reproduce some of it, courtesy of the anonymous author. What I thought so interesting is that this idea is starting to spread around and maybe gain widespread credence. The article follows, edited a bit by Russell.

“Out of respect for the proven maxim ‘do not underestimate your adversary’, we assume that the deus-ex machina power elite of the political and financial system in the US is highly intelligent and completely informed in every respect. We assume that they have in hand or have already begun to implement a carefully thought-out plan prepared years ago.

“We use the following facts in our hypothesis;

“The US Federal Reserve Banking system was put into effect in 1913, (i.e, 96 years ago).

“The US dollar has declined in purchasing power during that time by approximately 95%.

“Youngsters (under the age of 50) don’t recognize the collapse in the purchasing power of the dollar. Old timers like Richard Russell do. I remember when a pack of gum was a nickel, I remember when a new Buick sold for $1800, I remember when a subway trip around Manhattan was a nickel.

“The debt obligation of the US government has become an unpayable sum, amounting to multi-trillions of dollars. That is, the US could not collect enough in taxes, reduce its expenses enough, nor produce enough material wealth with its degraded manufacturing infrastructure and work force to pay off this debt in the foreseeable future. It’s a debt that is the largest ever incurred by any society in world history.

“The US dollar is the world’s reserve currency and is held as a monetary reserve in central banks worldwide. China, for example, holds approximately 2 trillion dollars of US Treasury securities in its reserves.

“The US Treasury has a declared hoard of 261.5 million ounces of gold.

“According to the US Dept. of Treasury (as of 2008) the value of US currency and coin in circulation is 85.2 billion dollars with 70% of this being located outside of the US. John Williams of “’shadow stats” places this figure at 923 billion with 50% overseas.

“The US government now has in place a domestic policy of massive credit expansion, extremely low interest rates, and the takeover of private corporations.

“Assuming the power elite seeks to maintain the status of the US as a world power and not plunge the world into an economic meltdown, there are only two ways to pay off its otherwise unpayable debt. That is, by default or by wiping it out with inflated dollars. It seems that the latter choice has been decided upon. This may be accomplished by a continuing massive expansion of credit that will have the effect of decreasing the value of the dollar, increasingly allowing cheap dollars to be used to amortize existing debt previously incurred with expensive dollars. The holders of dollars are trapped into this situation, just as they were in 1931, but at the least, they would like an orderly decline of the dollar. They would like to rid themselves quickly of these failing fiat dollars but understand that a panic run out of the dollar, prompted by dollar-dumping would result in a severe collapse in the value of their dollar reserves. They need time to use these dollars while they still have an exchange value to acquire other real assets. They also will continue to trade with the US to support their home economies while they continue to divest themselves of dollars and build their internal markets and alternate markets. These captive dollar holders are between ‘a rock and a hard place.’

“The fiat money game is destined to end because domestic and international confidence in the dollar will fail as the world realizes that the dollar, regardless of proclamation of the US government to the contrary, is a path towards worthlessness. However, the US will try to keep the confidence game going as long as possible to gain time to reduced its debt obligations by payment with cheap dollars.

“About the time a currency collapse appears imminent, the US will have reduced its debt to hopefully manageable proportions or amortizes it completely with inflated dollars. The price of gold will have soared to new highs. Currently, if the US Treasury were to back the total of US dollars in circulation worldwide with its 261.5 million ounces of gold, that gold would be priced at 3530 dollars an ounce. However, if gold were to reach 5000 dollar an ounce, and with circulating currency at 923 billion (shadow stats), that would seem a propitious time to announce a new monetary policy. At $5000 gold the Treasury’s gold would be valued at more the 1.4 times the existing dollars in circulation. The US could then proclaim that it would redeem these dollars at the market price of gold, whatever that might be. That would still leave the Treasury with approximately 384 billion dollars in gold if the market price were $5000 an ounce.

“This strategy, if brought to a successful conclusion, would leave the US solvent, debt free, and on a solid gold standard monetary system. With America once again standing behind the dollar as ‘good as gold,’ a renaissance of recovery would come roaring back in the US and throughout the world.

“Would the power elite actually chose such a strategy? They might, thinking that within a couple of generations, they could once again reintroduce the concept of a privately owned central bank with a monopoly power to issue fiat currency. In the meantime, they would have the massive booty of 96 years reaped from a central bank fiat money system to sustain them in the lap of luxury.”

Russell Comment — We must never again allow a sinister group of individuals to seize control of our money system. The Founding Fathers foresaw the danger of paper money issued with no connection to gold. Moreover, it’s imperative that the discipline of gold be taught to all Americans so that the immoral concept of a Federal Reserve can never again be sneaked or thrust upon the American people.

All Congressmen and Senators must be taught a class in money, fiat money, gold and the Constitution. The course must be mandatory. President Obama is said to have taught Constitutional law. As Obama surveys the Fed, and the results of fiat money in the US today, what in God’s name is he thinking?

And then there is the other view from Tlaga that we should also consider
Remember ?
He calculates that that dollars will be exchanged for new ones ( at 100 to 1 ) when gold is priced at exactly US$2,067.18 ! !

I wouldn’t be dead for quids just to see how this pans out

The Ring Master @ 20:59 pm

Sorry, didn’t mean to steal the thunder.  He said so many great things - only wish that more had heard what he was saying! 

Irish @ 18:10

irish-oh-no.jpg

Floridagold, yeah! Thunder stolen…the same guy that said:

It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.

Thomas Jefferson

Greatest president ever :)

Same plan for US? (silverspike2 20:29)

 http://www.americanthinker.com/2010/01/the_last_nail_in_europes_coffi_1.html

Partnership? More like a suicide pact. Fifty million laborers with families. The effects on European civilization, and on Europe’s relationship with the United States, are all too easy to imagine. And the U.S.-Muslim engagement document, the blueprint for the Obama administration’s relationship with Muslim countries, parallels these plans. It contains the same “cross-culturalization” plans that are discussed and recommended in the Euro-Med partnership. In other words, it’s a charter for our dhimmitude, our subservience to Islamic law.

The Ring Master @ 20:50 pm

B

Who said this?

Every citizen should be a soldier. This was the case with the Greeks and Romans, and must be that of every free state.

A) Abe Lincoln

B) Thomas Jefferson

C) Franklin Delano Roosevelt

D) Bill Clinton

E) Barak Obama

The center ring goes to you if you are correct :)

eeos -re - kwn

Eric King is for real and his interviews are just outstanding.

Believe it - frr

Fullgoldcrown @ 20:14 pm

Seems like one of those conundrums all wrapped up in an enegma!

That implies, to me, that the actual physical price of GOLD would have reacted similary - wonder if that is true?

Dylan Ratigan

Geithner Must Go!

http://www.msnbc.msn.com/id/21134540/vp/34811663#34811663

Our changing world

here’s a dutchmans view to consider

we’re not too concerned downunder because we have a large supply of teatowels in the cupboard

Geert Wilders is a Dutch Member of Parliament. ( Fact)
America as the last man standing

‘In a generation or two, the US will ask itself: who lost Europe ?’

Here is the speech of Geert Wilders, Chairman, Party for Freedom, the Netherlands , at the Four Seasons, New York , introducing an Alliance of Patriots and announcing the Facing Jihad Conference in Jerusalem .

Dear friends,

Thank you very much for inviting me.

I come to America with a mission. All is not well in the old world. There is a tremendous danger looming, and it is very difficult to be optimistic. We might be in the final stages of the Islamization of Europe. This not only is a clear and present danger to the future of Europe itself, it is a threat to America and the sheer survival of the West. The United States as the last bastion of Western civilization, facing an Islamic Europe.

First I will describe the situation on the ground in Europe . Then, I will say a few things about Islam. To close I will tell you about a meeting in Jerusalem .

The Europe you know is changing.

You have probably seen the landmarks. But in all of these cities, sometimes a few blocks away from your tourist destination, there is another world. It is the world of the parallel society created by Muslim mass-migration.

All throughout Europe a new reality is rising: entire Muslim neighborhoods where very few indigenous people reside or are even seen. And if they are, they might regret it. This goes for the police as well. It’s the world of head scarves, where women walk around in figureless tents, with baby strollers and a group of children. Their husbands, or slaveholders if you prefer, walk three steps ahead. With mosques on many street corners. The shops have signs you and I cannot read. You will be hard-pressed to find any economic activity. These are Muslim ghettos controlled by religious fanatics. These are Muslim neighborhoods, and they are mushrooming in every city across Europe . These are the building-blocks for territorial control of increasingly larger portions of Europe , street by street, neighborhood by neighborhood, city by city.

There are now thousands of mosques throughout Europe . With larger congregations than there are in churches. And in every European city there are plans to build super-mosques that will dwarf every church in the region. Clearly, the signal is: we rule.

Many European cities are already one-quarter Muslim: just take Amsterdam , Marseille and Malmo in Sweden . In many cities the majority of the under-18 population is Muslim. Paris is now surrounded by a ring of Muslim neighborhoods. Mohammed is the most popular name among boys in many cities.

In some elementary schools in Amsterdam the farm can no longer be mentioned, because that would also mean mentioning the pig, and that would be an insult to Muslims.

Many state schools in Belgium and Denmark only serve halal food to all pupils. In once-tolerant Amsterdam gays are beaten up almost exclusively by Muslims. Non-Muslim women routinely hear ‘whore, whore’. Satellite dishes are not pointed to local TV stations, but to stations in the country of origin.

In France school teachers are advised to avoid authors deemed offensive to Muslims, including Voltaire and Diderot; the same is increasingly true of Darwin . The history of the Holocaust can no longer be taught because of Muslim sensitivity.

In England sharia courts are now officially part of the British legal system. Many neighborhoods in France are no-go areas for women without head scarves. Last week a man almost died after being beaten up by Muslims in Brussels , because he was drinking during the Ramadan.

Jews are fleeing France in record numbers, on the run for the worst wave of anti-Semitism since World War II. French is now commonly spoken on the streets of Tel Aviv and Netanya , Israel . I could go on forever with stories like this. Stories about Islamization.

A total of fifty-four million Muslims now live in Europe . San Diego University recently calculated that a staggering 25 percent of the population in Europe will be Muslim just 12 years from now. Bernhard Lewis has predicted a Muslim majority by the end of this century.

Now these are just numbers. And the numbers would not be threatening if the Muslim-immigrants had a strong desire to assimilate. But there are few signs of that. The Pew Research Center reported that half of French Muslims see their loyalty to Islam as greater than their loyalty to France . One-third of French Muslims do not object to suicide attacks. The British Centre for Social Cohesion reported that one-third of British Muslim students are in favor of a worldwide caliphate. Muslims demand what they call ‘respect’. And this is how we give them respect. We have Muslim official state holidays.

The Christian-Democratic attorney general is willing to accept sharia in the Netherlands if there is a Muslim majority. We have cabinet members with passports from Morocco and Turkey .

Muslim demands are supported by unlawful behavior, ranging from petty crimes and random violence, for example against ambulance workers and bus drivers, to small-scale riots. Paris has seen its uprising in the low-income suburbs, the banlieus. I call the perpetrators ’settlers’. Because that is what they are. They do not come to integrate into our societies; they come to integrate our society into their Dar-al-Islam. Therefore, they are settlers.

Much of this street violence I mentioned is directed exclusively against non-Muslims, forcing many native people to leave their neighborhoods, their cities, their countries. Moreover, Muslims are now a swing vote not to be ignored.

The second thing you need to know is the importance of Mohammed the prophet. His behavior is an example to all Muslims and cannot be criticized. Now, if Mohammed had been a man of peace, let us say like Ghandi and Mother Theresa wrapped in one, there would be no problem. But Mohammed was a warlord, a mass murderer, a pedophile, and had several marriages - at the same time. Islamic tradition tells us how he fought in battles, how he had his enemies murdered and even had prisoners of war executed. Mohammed himself slaughtered the Jewish tribe of Banu Qurayza. If it is good for Islam, it is good. If it is bad for Islam, it is bad.

Let no one fool you about Islam being a religion. Sure, it has a god, and a here-after, and 72 virgins. But in its essence Islam is a political ideology. It is a system that lays down detailed rules for society and the life of every person. Islam wants to dictate every aspect of life. Islam means ’submission’. Islam is not compatible with freedom and democracy, because what it strives for is sharia. If you want to compare Islam to anything, compare it to communism or national-socialism, these are all totalitarian ideologies.

Now you know why Winston Churchill called Islam ‘the most retrograde force in the world’, and why he compared Mein Kampf to the Quran. The public has wholeheartedly accepted the Palestinian narrative, and sees Israel as the aggressor. I have lived in this country and visited it dozens of times. I support Israel . First, because it is the Jewish homeland after two thousand years of exile up to and including Auschwitz, second because it is a democracy, and third because Israel is our first line of defense.

This tiny country is situated on the fault line of jihad, frustrating Islam’s territorial advance. Israel is facing the front lines of jihad, like Kashmir, Kosovo, the Philippines , Southern Thailand, Darfur in Sudan , Lebanon , and Aceh in Indonesia . Israel is simply in the way. The same way West-Berlin was during the Cold War.

The war against Israel is not a war against Israel . It is a war against the West. It is jihad. Israel is simply receiving the blows that are meant for all of us. If there would have been no Israel , Islamic imperialism would have found other venues to release its energy and its desire for conquest. Thanks to Israeli parents who send their children to the army and lay awake at night, parents in Europe and America can sleep well and dream, unaware of the dangers looming.

Many in Europe argue in favor of abandoning Israel in order to address the grievances of our Muslim minorities. But if Israel were, God forbid, to go down, it would not bring any solace to the West It would not mean our Muslim minorities would all of a sudden change their behavior, and accept our values. On the contrary, the end of Israel would give enormous encouragement to the forces of Islam. They would, and rightly so, see the demise of Israel as proof that the West is weak, and doomed. The end of Israel would not mean the end of our problems with Islam, but only the beginning. It would mean the start of the final battle for world domination. If they can get Israel , they can get everything. So-called journalists volunteer to label any and all critics of Islamization as a ‘right-wing extremists’ or ‘racists’. In my country, the Netherlands , 60 percent of the population now sees the mass immigration of Muslims as the number one policy mistake since World War II. And another 60 percent sees Islam as the biggest threat. Yet there is a danger greater danger than terrorist attacks, the scenario of America as the last man standing. The lights may go out in Europe faster than you can imagine. An Islamic Europe means a Europe without freedom and democracy, an economic wasteland, an intellectual nightmare, and a loss of military might for America - as its allies will turn into enemies, enemies with atomic bombs. With an Islamic Europe, it would be up to America alone to preserve the heritage of Rome , Athens and Jerusalem .

Dear friends, liberty is the most precious of gifts. My generation never had to fight for this freedom, it was offered to us on a silver platter, by people who fought for it with their lives. All throughout Europe , American cemeteries remind us of the young boys who never made it home, and whose memory we cherish. My generation does not own this freedom; we are merely its custodians. We can only hand over this hard won liberty to Europe ’s children in the same state in which it was offered to us. We cannot strike a deal with mullahs and imams. Future generations would never forgive us. We cannot squander our liberties. We simply do not have the right to do so.

We have to take the necessary action now to stop this Islamic stupidity from destroying the free world that we know.

Please take the time to read and understand what is written here, Please send it to every free person that you know, it is so very important.

I find this stat incredible…from Midas…splain this you anti manipulationists

Food for thought…

GLD Day/Night Price Movements

What are the odds of this happening in a freely traded marketplace?

GLD (the gold ETF) first traded 11/18/04 and closed that first day @ $44 (nearest dollar). GLD closed @ $111 on 01/08/10. There were almost 1300 trading days on the NYSE in that interval. The net sum of all the overnight price changes (NYSE closed = today opening - yesterday closing) was $66. The net sum of all the daytime price changes (NYSE open = today closing - today opening) was $1. Virtually all the upward price movement in GLD occurred overnight when the NYSE was closed. During 2009, the numbers were $2 upward when the NYSE was open during daytime trading, and $18 when the NYSE was closed overnight.
RP

RNO

 Thanks. No doubt if we have shortages it will be because of the pear shaped politicos.

“attaboy” for irish

this must be some kind of record. irish has not been involved with law enforcement for a few weeks now.(that i know of)
rno

Who said it?

Which Democratic congressman from the 70’s and early 80’s said the following:

 I personally believe that we don’t need a lot more laws, I think we’ve got far too many laws on the books now, that’s part of the problem. … we don’t need more government, more laws; we need a lot less. I’m up there [in Washington, D.C.] trying to dismantle a lot of this giant government. … when you ‘pass a law’ with the current attitude in the Congress what do you get in a law today? You get either more spending, or more taxes, or more controls. … which do you want? Do you want more spending? I think we’ve got too much. Do you want more taxes? I think we’re taxed too heavily now. Do you want more controls over your life? Does anybody say ‘Hey look, I really believe the federal government needs to control me. I want to be a slave. Please tell me how to run every facet of my life.’ I don’t hear many people saying that. I think most people say ‘I think it’s time we get the government off our backs, and out of our pockets.

heat wave on the southern plains

most of the snow melted today. all the radio stations were playing the oldie “heat wave”. was that by martha and the vandellas?

rno

buygold1

grain inventories aren’t particuarly low but a major crop failure in the world would send the markets into turmoil. the u s has idled millions of acres of farmland so a world glut isn’t in the works. during the earl butz years (sec of ag), overproduction was so prevalent that wheat price went to the government loan value and languished there for years.

given the proper incentive, american farmers could produce enough grain to break the price worldwide to the point where every nation would have to heavily subsidise agriculture. the coming food shortage won’t be caused by farmers. the sleazy, pear shaped, incompetent elected officials will try to manipulate ag products to their advantage, just like the ones before them with the usual results.

rno

Why insiders sold Hecla

Hecla shares have blasted past the competition over the past six months, gaining 190%. Silver Wheaton (SLW) shares have gained 124% over that period, while Pan American Silver (PAAS) shares gained 48%.

Poirier says he and the other executives sold the shares to offset personal taxes on deferred compensation. Hecla’s financial situation was tenuous after an ill-timed mine acquisition prior to the credit freeze of in 2008. Instead of paying the executives’ 2009 wages in cash the company decided to defer them by paying in the form of restricted stock.

“When the shares vested on Jan. 2, they immediately became a tax liability,” Poirier says.

Headquartered in Coeur d’Alene, Idaho, Hecla mines, processes and explores for silver and gold in the U.S. and Mexico. The company currently produces silver from two mines: Greens Creek in Alaska and Lucky Friday in Northern Idaho. Hecla’s market capitalization is $1.6 billion, and its revenue for 2008 was $192 million.

Thanks Apollo at

www.voy.com/64855/

WANKA @ 18:08

What happened?

burst-my-bubble.jpg

It’s a sure sign of deflation I tell ya.  All the hot air is gone.  The good news is that we can now fly under the radar of the ‘evil organisation’ and continue with our campaign for a NWO of  LOVE!!!

hummm, maybe this is the answer

Hawaii can’t afford Congressional election

HONOLULU - Cash-strapped Hawaii can’t afford to pay for an election to replace a congressman who is planning to step down next month to run for governor, potentially leaving 600,000 urban Honolulu residents without representation in Washington.

Budget cuts have left the state Office of Elections with about $5,000 to last until July, with a special election costing nearly $1 million, interim Chief Elections Officer Scott Nago said.

Until the state finds money or this fall’s regularly scheduled elections occur, one of Hawaii’s two seats in the House of Representatives will remain vacant.

http://www.msnbc.msn.com/id/34782085/ns/us_news/

King World News discussion with founder Eric King

I appreciate his views, possibly other tenters will like to listen as well

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/1/10_Eric_King.html

Irish

The wind’s at our back Irish!  No pitfalls this year…. err maybe one or two.  :mrgreen:

Freegold sure dodged a bullet.  They needed a transfusion.  I had them at 2 bucks and still have some at 8 cents.  Boy I can be dumb sometimes!

ipso

I am with you …Buymore buymore! Anything especially any kind of producer…BUY BUY CHARGE… I can feel it comin…

It’s better to have half a project than 100% of a bankrupt company

Western Standard options Golden Summit project in Alaska

VANCOUVER, Jan. 11 /PRNewswire-FirstCall/ - Freegold Ventures Limited - ITF: TSX (”Freegold”) and Western Standard Metals Ltd. - WSM: TSX.V (”Western Standard”) are pleased to announce that they have signed an Option Agreement whereby Western Standard may earn a 50% interest in the Golden Summit Project (”Project”), which is located in east central Alaska. The Project is host to a number of gold occurrences that are similar in age and style to several nearby multi-million ounce intrusion related gold deposits including Fort Knox, True North and Ryan Lode.

yahoofinance