Economic Muppet ,”Flash” Gordon Brown is about to save the world again!!
This time he will sell the last of the family silver ,this is a LABOUR Prime Minister privitising national assets, OR I should say “NEW” Labour.
This will benefit the population of Britain by …………… well I’m sure he will think of something.
This is the same “Free Marketeer” chancellor that claimed ALL the Glory of an economic BOOM time BUT said he was not responsible for, NOR could he forsee ,the BUST!!! Has he never heard of a Boom and Bust economy a.k.a. a Free Market economy?
During the Boom time Gordon ,what did you save for a rainy day(i.e. the Bust cycle!!!)
I MEAN WHAT A F*CKING MUPPET!!!!
Norway is sitting on BILLIONS from its North Sea Oil,which it pumps LESS than the UK, and has better health and living standards.
THIS MUST MEAN THE NORWEAGIANS ARE ECONOMIC SUPER GENIUSES!!!
PLEASE CAN WE HAVE A NORWEAGIAN TREASURER!!!
Gordon Brown Announces British Public Assets Fire Sale
Politics / UK Debt
Oct 11, 2009 – 09:22 PM
Gordon Brown hell bent on going out with a financial bang announces a fire sale of British assets to the tune of £16 billion in exchange for a short pause (1 month?) to the size of the growing debt mountain rather than seek to cut public spending in an election year.
Gordon Brown an expert at selling British assets at the worst possible price as evidenced by the sale of 50% of Britain’s gold reserves virtually at the Gold bear market bottom price of $252, which has subsequently more than quadrupled to $1050.
IMAGINE IF GORDON HAD NOT SOLD OUR GOLD RIGHT AT THE BOTTOM OF THE GOLD MARKET!!
Gold Analysis, Real or False Breakout?
Commodities / Gold & Silver 2009
Oct 11, 2009 – 06:34 AM
Gold has broken out above $1000 and everyone believes that it is headed towards $1500, $1200 being the immediate next target. Technically and otherwise, there has been lot of talk that Gold should be valued @ $2000 – $5000 range based on the real $$$ terms when compared to 1980’s. However, if that were so easy, it would have already happened. Here are some of SB comments to the respective articles on the Internet
Next stop $1500?
Here are some fundamental reasons why this target is realistic:
1. Once the $1,000.00 level for gold in U.S. dollars is history, there are no more barriers to the price.
2. The massive currency degradation occurring on a worldwide scale is unprecedented in history.
3. Central banks that formerly ‘capped’ the gold price by dumping gold have stopped selling, and some have turned to buying: The Russian Central Bank is reported to have purchased 300,000 ounces in August. The Chinese Central Bank has expressed an interest in buying the entire 403 tonnes of IMF gold that is up for sale. The Chinese bankers have indicated that they will buy gold ‘during any dips in price.’ Much of the gold on the books of some Central Banks has been leased out. It no longer exists except on the books at those banks. The gold at Fort Knox has not been audited since 1953. The threat of IMF gold coming on-stream caused barely a ripple in the gold price last week.
4. The Chinese government is encouraging its citizens to buy gold. This is a total reversal of the policy that formerly forbade its citizens to own gold. This policy is extremely bullish for gold, as an increasing number of Chinese banks and coin stores will be stocking up in order to have inventory. This inventory takes supply away from the market since it is replaced as soon as it is sold to retail customers.
5. The Chinese government is expressing its dissatisfaction with the U.S. administration for causing the U.S. dollar to drop due to the loose U.S. monetary policy, and for imposing a 25% tariff on Chinese tires. This anger on the part of Chinese officials will translate into increased dumping of U.S. Treasury bills and bonds and converting the proceeds into ‘real stuff’, such as gold and commodities.
6. The huge ‘net short’ position accumulated by the commercial traders and the two or three U.S. bullion banks will have to be covered. The vast majority of these contracts are now showing a loss and margin calls are mounting.
7. Once the gold price is firmly established above the 1000 level, the hedge funds that own most of the ‘net long’ positions on the Comex will likely add to their positions, using some of the margin money they have accumulated on the way up. This will put further pressure on the two or three bullion banks to ‘cut bait.’ At the moment the hedge funds have these banks over a barrel.
8. More and more investors are becoming aware of the fact that the GLD and SLV gold and silver ETFs probably do not have as much gold and silver backing them as they should have. There are no regular independent audits conducted on these two ETFs. The next chart in this essay supports this observation. This will cause investors to abandon those ETFs and opt for physical gold.
9. Monetary inflation continues worldwide at double-digit levels. Meanwhile the gold supply is limited to an annual increase of about 1.5%. ‘More money chasing fewer goods’ invariably causes those goods to rise in price.
10. Gold mines are a ‘depleting assets’. Each mine has a predictable mine life. Unless new deposits are found, every gold mine eventually faces extinction. According to mining experts, new deposits are not keeping up with the current rates of mine depletion. Production in South Africa has been steadily declining. Environmental concerns in many countries make the production of a gold mine expensive and very time consuming.
BUT Stockbuddy says
$$$ cannot just go down forever. It either has already formed a bottom right now around 76 or it is going to soon, around this or 72 price levels. Meaning, if $$$ resumes its uptrend, Gold is bound to go down. After all, US cannot just leave $$$ to the wind.
IMF is selling Gold and China intends to buy it. The equation is balanced out, so there is NO reason for Gold to go up here. Coming to demand from common public, it is already Going Down.
So, unless we all are missing something here, Gold in deflationary atmosphere is only going to go down. Gold demand is expected to go down nearly 40% in India.
STOCKBUDDY IS DELUDED I THINK
“$$$ cannot just go down forever.”
WHY NOT? I am sure that they said the same thing about the German Wermark before the Third Reich fell.
“After all, US cannot just leave $$$ to the wind.”
WHAT EXACTLY CAN THE US DO TO STOP THIS? They have already started printing US Treasury debt in Chinese Yaun, and it seems have signed an Eminent Domain to the Chinese government guaranteeing US government properties as collateral for US Debt!!! China now decides the fate of the dollar. They are talking with the Saudi’s to stop selling Oil in dollars. THIS WILL BE THE END OF THE DOLLAR AS A GLOBAL CURRENCY. Like the UK pound ,it may still hang around ,it will just be worth a lot less!!
“So, unless we all are missing something here, Gold in deflationary atmosphere is only going to go down.”
SO UNLESS I AM MISSING SOMETHING , WHAT WILL MAKE THE DOLLAR MORE ATTRACTIVE IN THE NEAR FUTURE? My “money” is still backing GOLD!!!
When our leaders have no awareness of the disastrous consequences of their actions, they can claim ignorance and take no action.
Or when our leaders have no hard evidence as to what might happen in the future, they can at least claim uncertainty
But when they have full knowledge of an impending disaster … they have proof of its inevitability in ANY scenario … and they so declare in their official reports … but STILL don’t lift a finger to change course … then they have only one remaining claim:
And, unfortunately, that’s precisely the situation we’re in today: Three recently released government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly:
- The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore …
- The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.
- The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.
- Separately, in its Flow of Funds Report for the second quarter, the Federal Reserve provides irrefutable data that we are already beginning to witness the first of these consequences in the United States: an unprecedented cut-off of credit to businesses and consumers.
- Meanwhile, the Treasury Department shows that America’s fate remains, as before, in the hands of foreigners, with the U.S. still owing them $7.9 trillion!
- And despite all this, neither Congress nor the Obama Administration have proposed a plan or a timetable for averting these doomsday scenarios. Their sole solution is to issue more bonds, borrow more, and print more without restraint.
That is the epitome of insanity.
Yes, the great government bailouts of 2008 and 2009 have bought us some time … but they have promptly proceeded to sell us into bondage.
Yes, they have given us safe passage over tough seas … but only to throw our assets onto the global auction block for the highest bidders.
Report #1 Congressional Budget Office (CBO): The Long-Term Budget Outlook
The CBO opens with a chart predicting the most dramatic surge in government debt of all time
Report #2 U.S. Federal Reserve: Flow of Funds Accounts of the United States
The Fed’s data on page 12 tells it all: The impact on the U.S. credit markets is not just a future scenario. It’s happening right now.
Yes, the government is getting its money to finance its exploding deficits (for now). But it’s hogging all the available supplies, while American businesses and average consumers are getting shut out or even shoved out
Report #3 U.S. Treasury Department: Treasury Bulletin
The U.S. is deep in debt to the rest of the world, and on page 48, it provides the evidence: total liabilities to foreigners of $7,898,435 million (nearly $7.9 trillion)!
This isn’t a new record. It was actually slightly more last year. But the fact is NOTHING has been done to reduce our debt to foreigners. Quite the contrary, it is the deliberate policy of our government to pile up more — to sell foreign investors and central banks on the idea that they must continue to lend us money.
The fact that this could potentially put our nation into deeper jeopardy is overlooked. And the dire forecast by the CBO that foreign investors might pull the plug is pooh-poohed.
Trader on Bloomberg says markets are manipulated and volumes ‘ficticious’.
Not only are the new high tech/high speed transactions giving big banks an overwhelming trading advantage over retail investors, they’re also creating a false impression about the health of the stock market.
The Roman Empire is long gone ,BUT if you still had Roman gold coins you would be rich today!
Nazi Germany has passed away more recently ,if you where a PAPER BILLIONAIRE then you would be PENNYLESS TODAY!!
UNLESS THE PEOPLE OF THE UK AND USA WAKE UP, STOP THE BANKER BAILOUT ,STOP THE SELLING OF NATIONAL ASSETS AT GIVEAWAY PRICES (to thier buddies) THE PEOPLE OF THE UK AND USA WILL WAKE UP IN A LAND THAT THEY CANNOT AFFORD TO PAY THE RENT IN!!!!!
Where will you go then?
“Paper money eventually returns to its intrinsic value —- zero.” – Voltaire
“You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the Government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold.” – George Bernard Shaw