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The Forum > General Discussion > Do we buy Gold?

Do we buy Gold?

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Arjay are you there?
Five minutes ago Police and home security police arrested a man outside Americas Federal reserve.
Called a terrorist he was, it is said, attempting to blow up the Fed Reserve!
Posted by Belly, Thursday, 18 October 2012 6:08:00 AM
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Such confusion, Arjay.

>>...unless they bring Glass Steagall back the derivative market will implode causing hyper-inflation<<

There are some very good reasons why bringing back a form of Glass Steagall might help stabilize the US financial world in the medium term. In fact, I'm beginning to warm to the idea, especially since the massively complex Dodd Frank bill addresses only the problems on the surface, not in the infrastructure.

But Arjay, how on earth would such a move prevent the "implosion" of the derivative market? Furthermore, how would such an "implosion" cause hyperinflation? Apart from all that, what makes you think that the derivative market is likely to "implode" in the first place?

I'm not sure where you are getting your information from, but this is just silly...

>>Right now the NAB is offering the cheapest rates.I know it has borrowed at least $3000 billion from the US Federal Res...<<

I suspect that three trillion dollars might be just a tad noticeable, wouldn't you?

But even assuming you really meant $3 billion, what is the problem in borrowing from the Fed in the first place? As I recall, there were some really cheap funds on offer for a while, and at least a couple of Aussie Banks took advantage of this... why do you see this as problematic?

>>With these cheap rates they are desperately sucking in mortgages so they will have real assets to back up their derivative gambling.<<

The assets are, of course, the loans themselves. How does taking more loans onto their balance sheet "back up" their activity in the derivative market?

Admit it - at least quietly to yourself, when no-one else is listening - that you have no idea how the financial markets work. Perhaps then you might spare us these flights of fancy.

Although I have to admit - also quietly, when no-one else is listening - I do quite often find them immensely entertaining in their wrong-headedness.
Posted by Pericles, Thursday, 18 October 2012 9:02:06 AM
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Anyway Arjay, it won't matter anyway what happens to the money system.
I don't think gold is a solution, as all we will be able to swap it for
is more money.
What we need is not money, or gold but something that has intrinsic value.
The only thing I can think of is land.
If you are too old for farming, then you can rent it out to a farmer
for payment in food.

You will be interested in this talk by Richard Heinberg as he covers
the generation of credit and the problems it causes.

http://tinyurl.com/ce73aw7

I don't think (hope ?) it will be that bad if we can arrange a
plentiful electricity supply. Else we just adjust to a lower standard.
OIl is currently about 75% of our energy usage, so you can see how
much extra electricity we would need to generate to maintain our
current lifestyle.
It is not that simple of course but it is a good start.
Posted by Bazz, Thursday, 18 October 2012 9:46:24 AM
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yes bazz next land..lol
nothing like investers looking for assets to double prices..in anything they can put the cash into..like the farce book fall to 50%..in real market values

the only way they could hope to correcgt that [back to the issue price..is entrap users with gambling..you watch..

anyhow put their bailout into what?
no matter what its real value is half..in the upcomming bust

woprkers should seize their workplaces..like in argentina..run their work as a cooperative..[heck think of all the coops unions could have built..from workplaces going bust globally*

value ading
rests with the worker

and govt is only holding us down
for capitalists to rape reap and plunder.. us of the max return the markets /corperate stockholders owning corp'..ses..[and ripping off the consumer ..as much ..as our meager wages ..can bare*

its only the new rich that loose
hence capitalisation of babby boomers with to much cash
ripped directly out of our COMPULSORY super 'con-tribut-ions'..
stolen from wages when its income tax..not wage tax..[wage ISNT income!]

but its a waste of my breath
the law is govt/unions lawyers docters scientists..AINT THERE FOR YOU*

jusy the cash money...imagine if they actually diod use the money for research repair..rebuilding..NOT ON WAR

i had to laught at JULIAR today..
tripped while walking to ghandies crypt..on her own war mongering
[npting the press talks of joint exersizes..YEAH TRAINING FOR WAR..visit ghandi grave..?

your so dumb juliar
Posted by one under god, Thursday, 18 October 2012 1:59:55 PM
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"I think you are mad if you don't." LOL, how can you be so sure?
Posted by Nitahayhurst, Thursday, 18 October 2012 5:13:26 PM
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Re NAB pericles.$ 3 billion is what we know about.Their inflated net profit is about this.Add into the mix their derivative exposure.Add into the mix 40% property over valuation.Add into the mix their supposed assets based on loans yet to be repaid.

Massive unemployment will mean massive bank losses.We have a consumption/mining based economy which depends upon the good will of China who is currently seeking alternate sources of resources/energy due to our close alignment to the war momgering imperialists.

Is dear old Pericles trying to tell us he has more credibility than Max Keiser? Pull the other one Pericles.
Posted by Arjay, Friday, 19 October 2012 5:39:35 PM
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