Global economic situation for liveaboard cruising yachties

[masalai]

Well what can I do USA is the corruption central of global economics (and lots of other activities - biggest market for cocaine, opium derivatives, fiscal derivatives, valueless paper gold and paper silver, all sold at inflated prices

I am not your, or his keeper..... how should I know? - - probably making lots of money selling his Organic Farm derived, vegetables & other produce...

[sabahcat]

Originally Posted by masalai

Gold bugs? I have a precious metal position.... and use this to keep my reading up to date in the markets of interest... relating to global economics, forex & commodities, - - and if you fail to see gross manipulation then you do not follow these markets...

.

I do see gross manipulation in the commodity markets which is why I am out of them.

Gold is a commodity isnt it?

http://www.gold.org/faq/answer/26/is_gold_a_commodity

Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
- Warren Buffett

[hoytedow]

USA is not the only corrupt place. We "little people" are doing what we can to clean up our back yard. What is happening on your side of the fence?

[masalai]

Never trust a politician with anything except to know that said personality can never be trusted.... little people like yourself and myself get SCREWED... and it is our duty to scream loud and long every time we become aware of someone amongst us as being screwed...

I will never - "die without even a whimper"

Buffett is a 'lucky bastard' with a couple of good advisers - - once you have a certain amount of "money" even the sound of his fart is seen as revered advice... So the world has plenty of fawning cretins to adore the 'lucky bastards' and boost their egotistical attitude... Gold is the oldest currency (means of trade) and still is at the core of traded value... Anyone who says otherwise is as good as a brain dead cretin because they have demonstrated how little they know, and how naively trusting they are, to believe such twaddle from the fiat-currency-advocating "maney-managers", who know otherwise, and would like to have your gold...

You are kidding, of course - organic farming? Do you know what they fertilize with?

[masalai]

In a more sober frame of mind, Australia is a little indistingushed country that is probably destined to become a "hole in the ground" from which minerals have been extracted and sent elsewhere - - - and - - - if precipitation improves, a farm supplying lots of people with sustenance, - otherwise lucky in some respects as we are out of recession and only slightly adversely impacted by the consequences of the monster ****-up that USA has become with the huge debt burden and fiscal manipulation that is going on with the "money-managers" who have become world class experts at fraud, deception, theft - - - - etc...

The problems are in a patch of your (USA) sandpit and as such it is beholden on the good and honest citizens to take unilateral action and remove all those corrupt arseholes of "money-managers" - Ben Bernanke would be a good start, but it is not for me to actively interfere in US internal matters...

[masalai]

**** is a good start... plenty flows from USA - so there is an export market potential there

[masalai]

http://www.moneymorning.com.au/contact-money-morning to subscribe and there is no "web version" so here is the email copy&paste - - -


Morning reader,
- Kris Sayce is busy finishing up Australian Wealth Gameplan today. So, I thought I'd share a few words with you this morning.
- Yes, he did make me assemble my own chair. And, surprisingly it hasn't fallen apart - yet.
- Kris will be back tomorrow, but in the meantime, grab a coffee and enjoy... "The signs of recovery being seen around the world are due to huge stimulus packages, which will only prop up economies for another 12 to 18 months before they collapse again."
- Those aren't my words. They're the words of John R. Talbott. - Who's he? Well, he was recently in Australia for the Brisbane Writers' Festival - Call me uncultured if you like, but the Brisbane Writers' Festival doesn't sound like the type of event for a doomsday economist to pitch their tent. Especially not a former Wall Street investment banker. - But this is one banker, turned writer worth listening to. - His claim to fame is that he predicted the dot com and US housing markets crash. However, his comments have generated almost no attention in Australia. - Why? Probably because he doesn't share the "smile-and-pretend-the-Australian-economy-is-going-to-bounce-back-quicker-than-a-Hollywood-starlet's-waistline-after-pregnancy" point of view.

- But Talbott's alarm about the next crash is valid. Yet it's been ignored by the mainstream media and politicians. Probably because it's depressing at best and at worst, it points to our economy falling in a saggy little heap. - So, why does Talbott have this bearish view? Simply because he believes China may have cooked the books.
- That their economic recovery isn't real.
- If that's true, it's a frightening thought. Think about how much Australia relies on China. It's one of the major supports to our export industries, especially the resources sector. - Yet the mainstream media continues to report that business and consumer spending will return as our commodities remain in hot demand. But what if it doesn't? China will only demand our resources if other countries demand its manufactured goods.
- Or if the Chinese begin consuming more of their own products. - The problem for China is that much of its exports are being propped up by stimulus handouts. It's doubtful whether this can continue when the stimulus spending stops. And nor should it. - Unless, of course the banks go back to their bad old lending ways again. But that's a different story.
- Either way it results in more debt. One of the reasons we're in this mess. - That's why Talbott has been outspoken about using stimulus packages to save economies from recession. He's pointed out that "Any positive number's coming out of Australia, the US and China are the direct result of huge government spending". - In other words, once the stimulus slows down, we'll be faced with another sharp down turn. - And that means our commodity-driven recovery will be short lived. He considers this a 'W-shaped' recovery. And the next down-leg is waiting to happen.
- Of course, if you believe what you read from the mainstream commentators it isn't China that's kept the economy going it's been consumer spending... - Spending which has only been made possible by government handouts. - But what happens when government spending dries up? - Look, there are many factors to consider long term. Huge debt levels and retirement of the baby boomers will reduce individual spending and saving ability in the near future. - Crippling levels of national and personal debt and millions of retirees with inadequate savings means an increased cost to taxpayers. - It makes no sense to try and keep the Australian economy growing at its previous rate. Not when the growth is fuelled by borrowing from the future. History shows it hasn't worked in the past and it won't work now. - It's always a short term solution. It's like using sand bags to protect against a tsunami. It isn't going to work despite the initial appearance of success.

- So while governments, corporations and the media are flouting the return of the boom, it's worth showing a lot of skepticism. - If Talbott is right, the second part of the W is coming and we'll notice it more this time.

Other Stuff on the Markets
- The S&P/ASX200 was yesterday to $4,831.10, while overnight on Wall Street the Dow Jones Industrial Average soared 1.47% to $10,015.86. In Europe the FTSE100 gained 1.98% and the CAC40 added 2.14%.
- The price of gold in Australian dollars is trading at $1,161.08, while in US Dollars it is trading at $1,062.85. And the price of silver in Aussie dollars is $19.56 and in US Dollars it is $17.91.
- The Aussie dollar gained versus the US dollar and Japanese Yen, trading at USD$0.9153 and JPY81.81
- Crude oil closed overnight at USD$75.18
Shae Smith
Assistant Editor, Money Morning Australia
[Please note: neither the authors nor any of the employees of Port Phillip Publishing own shares in any of the stocks discussed in Money Morning unless specifically stated. The articles do not give trading or personal investment advice, but are intended to provide a useful, independent news and analysis service to supplement your own investing and trading. Consult your financial advisor before making any investment decisions.]

[sabahcat]

Originally Posted by masalai

Buffett is a 'lucky bastard' with a couple of good advisers - - once you have a certain amount of "money" even the sound of his fart is seen as revered advice... So the world has plenty of fawning cretins to adore the 'lucky bastards' and boost their egotistical attitude... Gold is the oldest currency (means of trade) and still is at the core of traded value... Anyone who says otherwise is as good as a brain dead cretin because they have demonstrated how little they know, and how naively trusting they are, to believe such twaddle from the fiat-currency-advocating "maney-managers", who know otherwise, and would like to have your gold...

So let me get this right.

Anyone who has made and is making money from any other means apart from gold speculation is just LUCKY.

Everyone else is a FAWNING CRETIN

And anyone who doesn't agree with your opinions on gold or have some is a BRAIN DEAD CRETIN

OK, I am seeing a pattern here, you have the bug well and truly in your brain.

[masalai]

The point was money begets more money - - - and - - - corruption is down to a fine art in USA in Australia it is relatively "petty"... see here - - - - http://www.thecoastalpassage.com/editorial.html and elsewhere at the Coastal Passage site.... (Who released that image, it is not I Sir)... I did not exclude gold or those into gold buggery (again not I on the latter point)...

Those who suck every word of the likes of a dinner or luncheon 'buffett' by their actions are fawning cretins..

If you cannot recognise the historical fact that gold is the only and oldest means of effecting trade on its own intrinsic value... then do some reading and prove otherwise...

All other transactions are by an unguaranteed fiat currency and even the old words "promisory note" have been removed and lots of other guarantees that stood until 1971 when the world mostly left the gold standard so that bankers and others could freely print (on paper or other media or electronically) unlimited amounts of money (witness Zimbabwe of recent times when several hundred trillion would by an egg) and now with the privately owned, for profit, US Federal Reserve Bank producing similar volumes of money, which has caused the devaluation of the US$ against the AU$ of some 40% since March 2009....

[sabahcat]

Have a read

Pay special attention to the bits in red

Why the Feds Seized the Gold in 1933


The question of confication reappears every time gold rallies, from those with enough history to be able to throw out a few facts and sound plausible, but not enough grounding in history and the law to actually place them in any sort of reasonable context.

Below is a 'reprise' of a blog entry we posted early this year on the topic.

The Feds acted on gold because at the time it WAS the currency of the country, and the government had some proper claims on it. When the US left the gold standard it relinquished all such claims, as gold became purely private property. Except perhaps if you are holding gold American eagles, which bear the patina of 'currency.'

http://jessescrossroadscafe.blogspot...r-to-save.html

So unless you are buying Kooka's or Koala's it would seem gold is not currency at all, not to mention they have stolen it back before.

Also look at the last six month gold price



Not looking too good is it

http://www.kitco.com/gold_currency/charts.htm?AUD

[masalai]

sabahcat,
Thank you sooo much... I will bookmark that link NOW - - Bloody Magic - - Now to overlay the Au$/US$ exchange rate particularly on the "real time" and 1 and 5 year scenarios....

That requires quite a bit of analysis... and thought - **** it all - - what a bastard...

[bntii]

Mas- while we are all sitting here around the camp fire...

Any chance that you would like to provide a very brief summary of why the gold standard was abandoned?

Not- "so crooks could print paper for the outhouse", but the real problem with a gold standard and what was hoped to be achieved by switching.

Also- why go back?

While I am at it- why not just be satisfied with investing in the commodity and leave the fiat currency's to whither and die if you don't like them?

You claim that the commodity (gold), is manipulated- all things which are traded are subject to manipulation- it's part of the game. You seem to suggest that gold is subject to a more nefarious game, to what end?

[hoytedow]

Originally Posted by masalai

Ben Bernanke would be a good start,...

I could not AGREE more=100%.

Originally Posted by masalai

...but it is not for me to actively interfere in US internal matters...

I could not AGREE more=100%.

[hoytedow]

OK, everybody. Its time to visit Florida. It will be a lot cheaper for Australians according to above graph.