Some one has to start it, Americas default.

Hi bntii,
That was a rumour and the "markets loved it" and went berserk with enthusiastic buying on baseless (empty) optimism - - fools... Have a careful look at the purple bit above from Bix Weir, He is the first one to make comment, that I have read yet on the Euro deal... follows with "Further on the "Greek bailout"" below...

Hi Frosty your post http://www.boatdesign.net/forums/op...art-americas-default-39059-80.html#post497231 is also answered in this reply to bntii...

Further on the "Greek bailout" http://www.guardian.co.uk/world/2011/oct/26/eu-summit-eurozone-crisis-leaders and http://www.irishtimes.com/newspaper/frontpage/2011/1026/1224306509595.html and http://www.irishtimes.com/newspaper/breaking/2011/1026/breaking34.html and http://www.nytimes.com/2011/10/27/w...ilout-fund-as-rifts-remain-in-talks.html?_r=1 - - - So "the can is kicked down the road", to bite twice as hard in a month or so... - - - I am not interested in reading this unless someone identifies something of a critical game changer therein... The collapse of the Euro is still inevitable, the question is - - - - - WHEN? - - - - and who will fall first .... and the dominoes that will follow ?????????????

 

http://www.gata.org/node/10617 "John Embry: Gold market maelstrom likely a false alarm" 10:31a CT Thursday, October 27, 2011 - - - Dear Friend of GATA and Gold (and Silver):
In his latest commentary for Investor's Digest of Canada, Sprott Asset Management's chief investment strategist, John Embry, writes that volatility in gold and silver prices is likely engineered by central banks to support their own currencies and that gold and silver mining companies are deeply undervalued. Embry's commentary is headlined "Gold Market Maelstrom Likely a False Alarm" and you can find it at the Sprott Internet site http://www.sprott.com/Docs/InvestorsDigest/2011/MPLID_100711_pg341Emb.pdf

http://www.caseyresearch.com/gsd/ed...ull-not-enough-bullion-globe-and-mail-toronto "Paper Currency Has Too Much Bull, Not Enough Bullion: Globe and Mail, Toronto" and lots more interesting "newslinks" to consider... - It appears that the fraud/deception and manipulation of the "precious metals" by the FED, banksters, and others will continue for another 2 years - - "As far as the timing of the implementation of the all-months-combined position limits [in silver], it would appear to be at least a year or two from now. Upon first hearing of the time delay, most come to the conclusion that the silver manipulation will remain a crime in force for the next year or two. Perhaps that will turn out to be the case, but I don’t think so. Markets have a way of discounting and adjusting to certain known events before enactment, even manipulated markets. Further, a trader would garner unwanted regulatory attention were he to play over position limits up until the deadline.

"Of more concern is the current level of proposed silver position limits of over 4,500 contracts (22.5 million oz). This level is three times the 1,500 contract level requested by thousands in the public comments. The question becomes is the level so high as to negate the anti-manipulative protections promised by legitimate position limits? While I could make the case for 1,500 contracts in my sleep, the staff’s formula is a good first step in silver position limits. Everything is relative. 1,500 contracts would be a better level than 4,500 contracts, but 4,500 is a heck of a lot better than what we have now, which is no limit at all, thanks to the CME which only seems to exist to reward its biggest members and punish the public by promoting manipulative trading practices . Certainly, JPMorgan is currently short more than three times the amount of the proposed silver position limit, so one would think they have some short covering in store or some fancy explaining to do. Time will tell, but my reaction to what just transpired is positive. - - NUCKIN FUTS - all holding their "richard craniums"...

In 1900 one dollar bought 14 loaves of bread. In 2010, it bought 16 slices from one 20-slice loaf. - Neil Reynolds, The Globe and Mail, Toronto...Tuesday, October 25, 2011


Attached image is purportedly JPMorgan getting a "helping hand" from Uncle Sam and heading straight for the rocks....

 

Hi Boston,
That would take about a week of typing at about 30wpm (my maximum best ever) and my brain would fart within 2 hours of commencing... It relates to Macroeconomics and learning the jargon, which is quite specific in meaning and seems so have little to compare with accounting 101, and more affinity with "witchcraft" usually spelt "WHICH-CRAFT", but not about boats, but floating things may be a common theme...

Our "accountant", - rwatson, - effectively debased a useful anology - but then he is an accountant and I hate accounting and microeconomics - far too pedantic...

Macroeconomics is a different ballgame where the basic "good accounting principles" do not apply... as the terminology is different or at least the meanings are different... If you listen to Michael Maloney and can understand the drift of his case that is enough...

The creativity of the banksters is the core of the disastrous debt burden the world is uncovering... Much of the debt burden is tied up in CDS's (Credit Default Swap) and lots of other instruments of this creative fractional banking & accounting system facilitated by the Keynesian Economic Theory... I am not an expert by any means and the likes of Dr C Rao, (my lecturer and tutor in 1977), would still bamboozle me if he attempted to explain what is going on now, so I follow part of the action and accept that which is peripheral to the core of my interest if it "looks right"...

In reading essays I look to where the ideas expressed fit into the big picture - my reading leads, (something like 20 or more a day of the style usually linked), me on a consistent path that has proven accuracy in direction, but timing has let me down as Chaos theory attests - a flapping butterfly wing in Brazilian jungles may be the root of a cyclone in Queensland next year, unforeseen events may change the anticipated/expected path/timeline...

This could help to get an idea on what is happening now "the coming derivatives crisis that could destroy the entire global financial system", http://theeconomiccollapseblog.com/...ld-destroy-the-entire-global-financial-system and this, "Financial Black Holes" http://www.globalresearch.ca/index.php?context=va&aid=27177 and "Market Manipulation and the Second Great Depression" http://goldswitzerland.com/index.php/market-manipulation-and-the-second-great-depression/ will have to do for starters...

The key banks are the Reserve Banks that align closely with the US Fed Reserve, their shareholders/owners such as - BoA, Goldman-Sachs, JPMorganChase, HSBP, and a host of others in USA Europe and elsewhere... Look for the friends of the US Fed Res by following the money... Who got "bailed out" or over the counter (generally hidden), recapitalisation (Australia's "big four banks" for example, They are likely exposed to toxic CDO's, CDS's and other financial instruments)...

 

Bos- read the links I posted a few back.
Otherwise just look at 'monetary policy' and you will get to good reviews fairly promptly.

 

oh great - yes, lets not get the facts get in the way of a good story.

If he cant get the basic details correct, then what credibility has he got on bigger stuff.

Lets all go back to playing pretend games in the sandbox !

 

True- time for more productive pastures for me.

 

Thats a good point Frosty - and quite sane.

Can you imagine if we had no currency, and had to get the government to build roads, hospitals and armies - from us sending in say - half a truckload of wheat from the farmers, 4 hours of consulting work from the accountants, 5 bins of fish from the fishermen etc

---------

The crazy (rabid and nonsensical) dudes who are suggesting that precious metals should back a currency forget that the government also owns a lot more valuable assets that support its currency.

Take the fishing rights for a nation, the national parks, the water rights ...

Even Mas wont convert his 'freedom machine' to gold - how else would he escape to his paradise.

 

fishing rights for a nation...
the UK swapped them for better farm subsidies so anyone can come and take their fish and if where you land the fish the minimum size is smaller you can take what is illegal in the UK....
The EU at its best

 

Denialists enjoy your day in the sun...

Others, Please read and learn, not necessarily from me but the links of the bloggers and others who saw what was coming, That is how I chose who to read, and learn from those who got the story right not the fools that said, "... Well Well, I did not see that coming ... "

Add 2 and 2 = The 1.2 trillion of EU funds... That is a shadow and mirrors trick, something like 300 billion Euros is nominally identified as the original sum made, by access to credit in the EU... It is then "leveraged" to create a fund of US$1.2 trillion...

If you think "leveraged" created something substantial? more fool you...

If you care to look carefully at the shadows & mirrors you will see into the future and see none other than yourself, your children and their children and so on.... MORE DEBT to be delivered on your heads in the future...

Instead of pontificating as to the root of the history of the GEC - - - LEARN and read....

- - Worry about the now, - - as the "fixers" are determined that they will live life to the fullest and DAMN the future and DAMN the voting or non-voting public into servitude... DO YOU NOT REALISE that creating more DEBT to temporarily fix a perceived problem is WRONG... That fixes nothing except to ensure your future in some form of slavery...

 

I coundn't agree more
the old farts running the EU have just said "lets just get this over with so I still get my guaranteed indexed pension"

Only way it would go away is if the EU had Chinese level of growth for 20 years...and in a nation where everybody is almost retired thats not gunna happen
Did we mention debt levels rising??

 

Good morning power are you feeling a bit bid rabid and nonsensical this morning. Thats a very strange comment about a country that paid its fishermen to lay off its fishing boats and close fishing ports, I used to live in one ,--one of the biggest actually, its a theme park now selling hats n stuff with a little scruffy marina.

Can land any fish you want, ---oh no no no no no sir.

 

That is where you are headed, - have fun in your blindness... Australia's big4 banks are exposed and vulnerable... How vulnerable I do not know as that is a closely guarded secret, but not as secret as the proof that USA still has its 8000 odd tonnes of gold in fort knox...

- Then why are the Chinese buying it like it is the ONLY thing to buy?
- Why in HK, Dubai and other major centres of enlightment and awareness of the impending GFC consequences now able to buy gold in up to 1KG (US$56000 or so) from vending machines?
- Why is gold held in substantial quantities by so many reserve banks and acquiring more as fast as they can (THE BULLION, not paper gold/silver in ETF's etc)
* * * * BECAUSE gold and silver are recognised as MONEY that retains its value better than ANYTHING ELSE... * * * *

What rights - most have been sold, stolen, emptied and destroyed... There used to be an abundance of schools of tuna throughout Melanesia - MOSTLY ALL GONE... stolen, along with shark-fin, giant-clamshell, tortise, dolphins...

Ask many citizens of USA about their PERSONAL rights to capture and store rainwater and streams of water passing through their farmlands?...

My boat is a means to an end and when an opportunity opens that puts me closer to my version of "paradise" - That is what it is for... Gold was used to start with and I can find another 'goldmine to work' but I will still be happy trading as I can carry a tonne long distances and up to 2 tonnes for shorter trips.... Duh....

 

The french have said what we all wanted to say,--"who the hell let greece in anayway"

This is a good point, Merkel says he was was not at the meeting.

So who did it and how much did they take? I hope he got a million or two becaue its cost everyone else billions.

I must be a bit dumb becaue I dont know why they could not dump them. Its ok ille look on the internet myself thank you.

 

Morning Frosty

Note sure which way you meant, what I meant was a fish of illegal size in the UK can be legal in other EU states, that was one of the things that made UK fisherman mad.
I had a UK mate that used to meet with other country boats in the sea and swap the catch over so both could legally land all their fish.
Are you saying the EU finally has standard fish size, that would be good news?

 

I love the water one, you are responsible for run off but you need a permit to catch the rain??