It may appear a waste of time, debating the issue of using a gold standard for international trade but the topic, which the free-spending/free trade maniacs thought they buried, forever, keeps popping back up again. This is due to the terribly warped international trade regime run by the US dollar. Since both China and Russia and even OPEC have been loudly grumbling about the need to reform the present, rotted, system, it pays to visit the past, again. The Federal Reserve just released more secret documents! All about manipulating gold markets…in the 1960’s. Continue reading
Category Archives: gold
This is the latest IMF GDP growth graph. The redder the country, the greater the growth rate. The green parts are the slow or no growth parts. Note that China is the biggest ‘fast growing’ portion. Europe and the United Kingdom parts [Canada and Australia, for example] are all very slow growing as is Japan. The US grew its GDP but did this via growing our debts. Notice how the graph above shows a sudden surge from a bottom that is the beginning of 2009. Right. Also, the lines of the chart are, blue is the BRIC nations like China and India, grey is the world total and red is the G7 nations. And guess what? The differential in growth rates are supposed to remain? In 1998, they were the same growth rate. But even in this massive decline, are still nearly as wide apart as at the height of the credit bubble! Not good news for us, in the US. Continue reading
The deification of various hot-shot financial wizards is now coming to an end. The very last ones, the Perot clan, Warren Buffett, the Donald Trumps of the high-flying super-rich are all going into the dustbin of history. It was very easy to be fooled by these con men. Buffett, for example, made a huge show of PRETENDING to be against the madcap derivatives market only to see his own ship begin to sink due to this exact same market. And Perot, the guy with the charts and graphs who seemed to know what was going on, went piratical and ended up leveraging itself straight to the doors of bankruptcy. And Trump is going bankrupt, yet again. Continue reading
An American professor in China and I have an argument. Of course, he can’t read my blog since the Chinese government has me censored there because they don’t want people to know what I know. HAHAHA. As the IMF and WB join the G7 leaders in trying, yet again, to restart the Japanese carry trade and to flood the world yet one more time with a flood of easy lending, it is time to look at the Chinese plans. They are buying gold! And working with OPEC to control world oil prices!!!! WOW. I know the G7 leaders are in hysterics about both. They hope to prevent this from happening. They fear the reimposition of the gold standard. Continue reading
Josh was supposed to email me by Saturday, 8am. I still haven’t heard from him and am increasingly worried. So much for the US democracy being something less draconian than China’s non-democracy. Bear Stearns and AIG dumped $74 billion in bad bonds onto the Federal Reserve which is now pretty much telling us, this junk is garbage so the Treasury has to buy it, now. ARREST EVERYONE. Including Paulson who pretended, this all would cost only $700 billion. It turns out to be several TRILLION. And the IMF/G7 had their super-secret 5am meeting and got NOTHING except ULTIMATUMS from the Communist Chinese. Continue reading
I was woken up a 4:45am by one of my readers, Josh Smith. He was up much of the night and wandering around the George Washington campus in Washington, DC, when he saw a line of limos arriving for the WTO/G7/IMF meeting. The police immediately pounced on him and ordered him to leave the neighborhood. But he went across the street to take a photo for me for I was now on the phone.
One of the top Freddie Mac executives executed himself. These economic games can be deadly. Instead of facing reality, taking on the pain of loss, some people prefer death which is understandable: if they don’t appreciate life, the alternative isn’t so dark. The entire system is run by people who focus on creating wealth but refuse to pay the price of this wonderful wealth when the Goddesses suddenly decide, it is time to balance the books, zero out the bottom line and restore order. The entire US financial system is out of order and we see officials and bankers struggle to KEEP IT OUT OF ORDER. Not, be honest and restore sanity. Continue reading