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it's all over BUT the crying, IT WILL SOON BE CRYIN' TIME
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Thread: it's all over BUT the crying, IT WILL SOON BE CRYIN' TIME

  1. #1
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    Exclamation it's all over BUT the crying, IT WILL SOON BE CRYIN' TIME

    http://news.goldseek.com/GoldSeek/1251266760.php

    GO TO LINK FOR FULL STORY


    The Metastasis of Moral Hazard and its Effect on Gold



    -- Posted Wednesday, 26 August 2009 | Digg This ArticleDigg It! | Share this article | Source: GoldSeek.com

    By Stewart Dougherty

    To those who study the numbers, it is now obvious that America’s fiscal situation is hopeless. Given the country’s current debt and unfunded liabilities of $75,000,000,000,000, an amount growing by at least $5,000,000,000,000 per year, it will be statistically impossible for the United States to pay its obligations unless it repudiates them in large measure, or the dollar is sacrificed on the altar of searing, society-altering inflation.

    Congress and much of the nation are in utter denial about the country’s unfolding fiscal catastrophe, as evidenced by federal spending that is actually accelerating, producing all-time debt and deficit records that exceed anything ever experienced by any nation on earth, at any time in history.

    Denial is a psychotropic, mind-altering drug that by comparison makes crack cocaine look like health food, and addiction to it shuts down the brain. America’s denial about its out-of-control spending, non-repayable debt, financial sector fraud and deceit, decadent political institutions, epic dereliction of leadership duty, fiscal and monetary immorality, and disastrously dishonest system of cronyism is leading the nation into an economic nuclear winter of desolation and chaos. Aside from Ron Paul, there is not one politician telling the people the truth about their oncoming debt enslavement and impoverishment; nor is there even one sign of constructive fiscal change on the horizon. Our visionless, gutless and greed-stricken leaders have transformed the United States into a cowardly new world.

    But these facts are already well-known to the markets. In investing, the unexpected events change the game, causing significant price adjustments, either up or down. Wars, terrorist events, deaths of influential figures, natural disasters, provocations by foreign foes, paradigm shifts, innovations and the opening of commercial, geographic or intellectual frontiers have all, at their appointed times, had meaningful effects on markets. Successful investors need to keep their eyes focused toward the sun, because it is from its bright light that the jet fighters of change appear. Change wants to take us by surprise, and down to the ground. It is a contact sport.

    Many are now making the assumption that because the country has been able to sustain surrealistically deplorable fiscal numbers for the past twenty years or more, it will be able to sustain them in coming years, too. Elected officials delude themselves into thinking that they have time to tidy up their affairs before announcing that they will not seek re-election so they can “spend quality time with the family,” and assume they can get out of Washington before the machine flies apart. They expect to collect rich, self-legislated, taxpayer-funded, cost-of-living-adjusted government pensions plus free health care for life, while basking in the glory of such salutations as, “The Honorable,” or “His Excellency.” The odds are growing that things won’t work out this way, as America burns through its borrowed time with a blowtorch. The question is, what is coming that will change the game and accelerate the arrival of the inevitable?

    Inferential analysis is now saying that a game-changing trend having the potential to significantly affect America’s institutions, economy and society might be well underway. Inferential analysis is the practice of identifying trends from seemingly unrelated events, and projecting their likely effects on the future. It can be highly predictive, and serves as an early warning system.

    In this article, we will examine three contradictions that we think tell a much larger story in combination than each tells by itself. We will then examine the implications of these contradictions on the markets, and in particular upon the market for gold.

    CONTRADICTION #1: On February 6, 2009, as it was becoming clear that the $700 billion TARP bailout had failed to achieve any of its promised objectives and as the mood of the citizens was darkening ominously as a result, Pennsylvania Congressman Paul Kanjorski (D), Chairman of the House Financial Services Subcommittee on Capital Markets, was interviewed on C-SPAN.

    During that interview, Kanjorski attempted to make the case that the frantic, due diligence-free passage of TARP was necessary because Treasury Secretary Paulson and Federal Reserve Chairman Bernanke had told him and other, select members of Congress that the country was facing an historic banking crisis. Here is what he said, transcribed verbatim:

    “On Thursday [September 11, 2008], at about eleven in the morning, the Federal Reserve noticed a tremendous drawdown of, ah, ah, ah, money market accounts in the United States, to the tune of five hundred fifty billion dollars was being drawn out in a matter of an hour or two. The Treasury opened its, ah, ah, ah, window, to help. It pumped one hundred five billion dollars into the system, and quickly realized they could not stem the tide. We were having an electronic run on the banks! They decided to close that operation, close down the money accounts, and announce a guarantee of two hundred fifty thousand per account so there wouldn’t be further panic out there. [He was referring to the FDIC insurance coverage limit increase.] That’s what actually happened. If they had not done that, their estimation was that by two o’clock that afternoon, five and one half trillion dollars would have been drawn out of the money market system of the United States. It would have collapsed the entire economy of the United States and, within twenty-four hours, the world economy would have collapsed. Now we talked at that time about what would happen if that happened. It would have been the end of our economic system and our political system as we know it. And that’s why when they [the Treasury and Fed] made the point that we’ve got to act and do things quickly, we did.”
    '

  2. #2
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    Default Great Post LMSG

    Thank You LMSG: One of the best posts I have ever read. Really takes you backstage and let's us see how the Magicians pull birds out of the hat, saw the lady in half, and make the world as we know it disappear. Gonna do more shopping tomorrow for the neccessities of life. You made me realize how fast it can all disappear. God Bless Ya. See Ya At The Top.

  3. #3
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    Quote Originally Posted by beach miner View Post
    Thank You LMSG: One of the best posts I have ever read. Really takes you backstage and let's us see how the Magicians pull birds out of the hat, saw the lady in half, and make the world as we know it disappear. Gonna do more shopping tomorrow for the neccessities of life. You made me realize how fast it can all disappear. God Bless Ya. See Ya At The Top.

    When shopping for the necessities of life, don't forget torches and rope. We'll be needing plenty of those.

  4. #4
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    Pitchforks too.....

    Speaking of that, anyone have a good list of necessities?
    Last edited by learjet035; 26th August 2009 at 07:57.

  5. #5
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    A good fishing pole and lots of hooks
    A modern rifle with lots of ammo
    A black powder gun
    A bow and arrows
    A shovel
    An axe
    A good hunting knife
    A good dog
    And most importantly a good recipe for squirrel stew....yummmm yummmm yummmmm

    These are the basic necessities anything else you own is really not a necessity even if you have grown to rely on it and think that it is.

    Your cell phone is not a necessity
    Your computer is not a necessity
    Electricity is not a necessity
    Your car is not a necessity
    Money is not a necessity
    Food is a necessity but remember give a man a fish and you'll feed him for a day teach him to fish and he'll feed himself for the rest of his life

    The fact is that most people who have lived in the USA for the past 100 years are so out of touch with the reality experienced by most other humans throughout history that the vast majority of them will be helpless if the USD collapses or even if their SS benefits run out.

    Thank God the US has lots of conservation land and a relatively small population which will allow most unemployed people with a little common sense to sustain themselves.

    Prepare for the worst and hope for the best.

  6. #6
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    Quote Originally Posted by Katwoman View Post
    Agive a man a fish and you'll feed him for a day teach him to fish and he'll feed himself for the rest of his life
    sorry.. teach a man to fish and he will sit in a boat and drink beer all day...

  7. #7
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    Quote Originally Posted by marinakorp View Post
    sorry.. teach a man to fish and he will sit in a boat and drink beer all day...
    Classic, Well done!

  8. #8
    ccjoe is offline Senior Member Site Admin
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    Quote Originally Posted by skijake View Post
    Classic, Well done!
    After Kitty's realistic but get the gun about post, that WAS a classic as in comic relief

  9. #9
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    Quote Originally Posted by ccjoe View Post
    After Kitty's realistic but get the gun about post, that WAS a classic as in comic relief
    I think with all the Doom and Gloom [and I'm a subscriber on alot of it] I will be ready to kill myself when I can't find any humour or anything to laugh at anymore.
    I've got to be able to laugh once in a while even if it's at myself.

  10. #10
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    Given the title of this thread it is nothing short of amazing that we managed to find humor in it

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