Topic: Economy, what's left of
CRITICAL comment:
"Fed chair Ben Bernanke confessed to Congress that growth has failed to gain traction. "Deflationary risks might re-emerge, implying a need for additional policy support," he said."
There is no option BUT deflation. No ones buying much of anything, either being have-nots, or savers. The end result to the economy is the same, and the Fed has no ability whatsoever to AFFECT THE MONETARY SYSTEM AND ECONOMY.
People, REJOICE, THE FED IS DEAD!! The GOAL IS REACHED.
The classical aim of the Fed is to influence/control the money supply to control inflation. It aint working.
DING DONG THE WITCH IS DEAD.
and
""It is very scary: the flight to gold is accelerating at a faster and faster speed," said Peter Hambro, chairman of Britain's biggest pure gold listing Petropavlovsk."
but the PRICES dont reflect any great "flight to gold"
There are two types of trading-medium:
1.) gold and silver (precious metals etc) that have an intrinsic value, used ALSO as a trading medium. Its not possible to return to the gold standard as gold is WAY too expensive to trade with, including inherent value, for much less than a house or business sale. No one can buy MILK with gold.
2.) "fiat paper" is demonized as evil, but it is not. Its just paper, regardless of gold backing or not. We build the most successful economy in history on it, until the Credit Monster showed up.
The beauty of fiat is that in a crash, a value linked backwards to commodities (not just gold, but milk, for example) can be established such as:
"before the crash a gallon of milk was $2.00 so now well say the dollar is worth 1/2 gallon of milk.
That goes someplace BAD if you think about it. VERY bad. Go there and youll see what O'Traitor is up to...
ITs called "CONTROL OF THE MEANS OF PRODUCTION" one of Marx principles and we know OTraitor worshipps Marxism.
Speaking of O-Traitor, hes on TV right now talking about the budget and making an unusual number of defensive hand gestures.
Like Hamou told me:
"wait till peoples assets are lying in the streets then pick them up"
Example- I know of a brand NEW luxury motorhome that was almost 1/2 MILLION dollars new, cant sell it, the ask now is 180K. still it wont sell. The dealer admitted the economy tanked around them.
Now, 180K isnt exactly "lying in the streets" although they might disagree.
Lying in the streets" means abandoned after declared useless.
