gabby<<AFAIK Pericles and I have both stated that in the past,credit
was far too easily obtainable and Australian consumers overborrowed,
just look at their credit card debts,all at record interest payments.>>..i love your selective blindness

i agree consumers have drasticlly overspent..[but so has buisness overspent..[we need only look as far as your right issue]..and your investment..in a company who's greed is bigger than they can meet from normal return's

this greed is good has seen many overextend at the money feast..[we need only look at the ammount of businness going bust to realise the consumer is only symptomatic..of that big buSINness did to excess..

[but lest we forget by and large businness proffits come from consumers..[CONsumming TOO much]..the yanki consumer is fast getting homeless...meaning they will be living in a car..[not needing lpg..nor able to afford the cost of conversion..]

i put to krudd that the auto industry assistance should be to convert them into lpg..[in factory...but as he chose to ignore the advice im not expecting huge growth in lpg..and as long as petro stays cheap lpg is not a proffitablt investment..[at least the banks agree]

but i guess im just being nasty..because you and pere-cules have so much faith in the banking/monetary system, your bo0th failing to see the smart ones used up all their credit[and put too much into the banking system[and putting in enough..to pay its intrest back...isnt going to happen without hyper-inflation of monetary supply

[meaning consumers can affortd even less consumption..[but mainly that over priced/over valued ,big businness goes to the wall ever faster..as more and more mum and pop..investors become basic wage slaves..[as their investment vehicles go bust]

yes some housing has gone down..[but the low class housing has gone up[as the elites downsize their upper-class housing to meet their future income..[as the true elite runoff..os..with their/your 'investment'

see white-color crime mostly dont get jail..they use their plunder on lawers or to make their getaway..[only mugs that steal food/basics go to court and fill the jails,..where they learn the really rewarding fraud steals big bucks..from the gullible..fast shrinking middle class
mumb and pop

Getting back to the topic.Every US Congressman has a moral reponsibility to back a bill to audit the Fed Res.The people have a right to know where their debt money is being spent.

It is totally obscene that the Chief Inspector of the Board of Governers who are supposed to represent the people in this private banking cartel,is just an expose of Sgt Schultz."I see nothing,I know nothing."

The seeds of revolution are germinating in the US,and this could destabilise the entire planet.We need more communication via the internet,since there are many at this moment who see war as solution to economic woes.

War does not cleanse the spirit,nor does it create wealth.Those who survive war are traumatised by it for life.Let those who promulgate war be first on the front lines.Old men premote it,while young men die for no good reason.

The US foreign policy is reponsible for all the terrorism and hate we see today.They created Saddham,Backed Pol Pot and the Taliban against the Russians.The wars of the US today are all about corporate profit and nothing to do with ideals that will benefit the masses.

You appear to have narrowed the topic a little, Arjay.

>>Getting back to the topic.Every US Congressman has a moral reponsibility to back a bill to audit the Fed Res<<

Which I suspect is no bad thing, given the rather intemperate tone of your opening post.

Your original spray included...

>>A total of $9 trillion is unaccounted for<<

...which you signally failed to substantiate. Then there was...

>>Imagine you took out a $30,000.00 loan from bank who took control of this money and you are legally obliged to pay back both the principal and interest even if it is mismanaged or lost.For every family this is a debt of $120,000.00.<<

...which turned out to be purely imaginary. As, to be fair, you pointed out when you said "Imagine...".

But we still have the audit to nag about.

As I have mentioned before, there's no problem in an audit per se.

From a practical point of view, there is simply so much going on that it will be a pretty expensive exercise. And seeing that the American people have to foot the bill, it would only be fair to them to have more convincing grounds than just a few conspiracy theories.

But since I am not a US taxpayer, it is a matter of complete indifference whether an audit goes ahead or not.

The only people who will win out of it is the accountancy firm - or firms, given the size of the task - since they will be able to charge pretty much whatever they like.

And given that the Fed probably uses double entry bookkeeping, it is unlikely you will find anything untoward.

U.S. Inflation to Approach Zimbabwe Level

Chen Shiyin and Bernard Lo
Bloomberg
May 28, 2009
The U.S. economy will enter “hyperinflation” approaching the levels in Zimbabwe because the Federal Reserve will be reluctant to raise interest rates, investor Marc Faber said.

Prices may increase at rates “close to” Zimbabwe’s gains,Faber said in an interview with Bloomberg Television in Hong Kong.

Zimbabwe’s inflation rate reached 231 million percent in July..the last annual rate published by the statistics office...
lol and we sell lpg in us dollars[we have parity to signapure special blend..in us dollars..govt tax revenue for fuel will soon kick in again and the 'mineral boom' will again fill the govt coffers

then we get the carbon tax on top of it all...lol

“I am 100 percent sure that the U.S. will go into hyperinflation,” Faber said...“The problem with government debt growing so much is that when the time will come and the Fed should increase interest rates,..they will be very reluctant to do so and so inflation will start to accelerate.”

Federal Reserve Bank of Philadelphia President Charles Plosser said on May 21 inflation may rise to 2.5 percent in 2011.

That exceeds the central bank officials’ long-run preferred range of 1.7 percent to 2 percent and contrasts with the concerns of some officials and economists that the economic slump may provoke a broad decline in prices.

Read entire article

http://www.bloomberg.com/apps/news?pid=20601103&sid=avgZDYM6mTFA&refer=us#

dont say you wernt told...and we need to hyper-inflate along with it all because..WE SIGN OUR CONTRACTS IN US dollars...[i recall one 20 year contract for 20 billion/US to china..lol

mate..i dont keep my money under my bed..[..i turn it into that stuff i know will be soon hyperinflating..and food]

read the signs
http://www.infowars.com/fdic-fund-running-dry/
http://www.infowars.com/the-bilderberg-plan-for-2009-remaking-the-global-political-economy/
http://www.infowars.com/ron-paul-argues-against-bailout-policies-at-wake-forest/
http://www.infowars.com/obama-in-la-you-aint-seen-nothing-yet/

guess its time to visit wrh to find out what really is happening
http://whatreallyhappened.com/

Ah UOG, you would have just made Arjay's day. No more worries
about Australia's debts, for they are mainly in US$. We'll pay
them all back with a single banknote!

Marc Faber is of course well known for talking up the gold price
and that is great news for gold mining shareholders such as myself.
With customers like you guys around, the industry will keep booming
along at record levels. So you keep buying those gold bars, the
Perth Mint will sell them to you and even store them for you, if
your friends steal them from under your bed.

As to your opinions about energy/gas, perhaps that is not your
area of expertise lol. As a matter of interest, LNG prices are
linked to oil prices, so whatever the oil price, gas follows.
Contracts are written that way.

Shell, Exxon-Mobil, British Gas, Woodside, Origin, are all large
investors in LNG and can see the future growth of the industry
coming from SE Asia. Perhaps they know just a little bit more
about the industry then you do.

But don't you worry about energy, you just keep buying gold bars.
The gold mining industry loves you UOG :)

.

the thing about gold is its price increases only because the value of dollars needed to buy it decreases...as you would well know

its much the same a no brainer that as the value in fiat dollars decreases stocks[as well as everything will increase...much as arjay has said re pumping in fiat dollars[its wholesale theft from those not knowing the scam,..and those fools storing shrinking dollars under their beds

its sad and funny that wtice now you have accused me of storing stuff in my bed[whats the facination bro...first it was cash[as if i put any value on fiat issue currency notes that are falling in price...lol

nopw its gold under my bed your seeing[when its silver i store under my bed..lol..[silver will double in price well before gold]..gold is too pumped up at this time..[despite being under value in american fiat,

the thing with gold is its too hard to cash in even a simple ounce/gold..when the ounce equates to 1000 us...but an ounce of silver for 20..[or the soon to be forty]..is relitivly as easy as

anyhow im also gone in for nickle/copper..but not content having simply the metals also have invested in stamps...books/art..[not that modern s-crap]..as well as diversified into many other collectables

[i remember the last inflation boom,but began collecting way before then[it was because of the coin collecting i became aware of the money/securities/bonds scam...that dosnt mean i dont hold a few collectable notes as well

i also invest in old cars..still regret selling thaty old pontiac paresian..pre the last inflation cycle..but i guess its all part of the learning process...

thats sort of why im angry with you two..[your selves allready comfortable,..as i am,..are yet content to let ignorants stay ignorant...

arjay at least is sharing his learning..but you two..mate how you sleep at night/defending the indefensable,..this inevitable con-sequence of the events..

arjay is mearly trying to let people know about...set up by the big players..you so readilly defend..to further reap wealth from the poor