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At the Golden Crossroads: the West vs. the Rest | Uncommon Wisdom Daily

At the Golden Crossroads: the West vs. the Rest | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it
The U.S. dollar, which was once as good as gold, is deteriorating before our very eyes. In 2012 America, only gold is as good as gold; and know it.

There’s no doubt that we live in times of momentous change.

But it’s more than that: We live, quite literally, at the crossroads of history.

It is a time of empires rising and falling.

A single generation ago, America’s economic might was unchallenged. The long and remarkable growth of the people’s prosperity had long been the envy of the world.

Our economy was a mighty engine of growth and job creation.

Our currency unit — the almighty dollar — ruled over the entire global financial system.

Today, after decades of neglect and abuse by corrupt and incompetent political leaders, the United States of America is fading fast — along with the ideals, liberties and opportunities our founding fathers envisioned for us.

In a world where the greatest empires have prospered for centuries on-end, America now risks, after its brief time in the sun, becoming a noble experiment undone by reckless politicians.

The Contrasts Between America and Her Rivals
Are Striking … If Not Downright Terrifying ...
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The Reasoning Behind Basel Three Liquidity Requirement Delays « Jim Sinclair's Mineset

My Dear Friends,


The entire reason for the agreed delay of the Basel Three liquidity requirements is the Western financial system’s balance sheets. They are cartoons because of FASB blessing of debatable values for paper assets such as OTC derivatives with absolutely no market relationship.

 

Put succinctly, the Western world financial system simply does not have the ability in terms of real liquidity to meet Basel Three requirements. That is the entire story. The tomes written on this should be but one line – bankrupts cannot meet liquidity requirement now or in two years from now.

 

Add this to the news that a derivative dealer out of Citi has been proposed as Secretary of the US Treasury and my conclusion is that in truth, "Father forgive them because they (our esteemed leaders) really do not know what they have gone and done."

 

Respectfully, 
Jim

Hal's insight:

Heed Jim Sinclair.

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Jim Rickards - Who Will Bail Out the Fed & How High for Gold?

Jim Rickards - Who Will Bail Out the Fed & How High for Gold? | Gold and What Moves it. | Scoop.it

"The United States now has a system in which the Treasury runs huge deficits and sells bonds to keep from going broke. The Fed prints money to buy those bonds and loses money owning them. Then the Treasury takes IOUs back from the Fed to keep the Fed from going broke. This arrangement resembles two drunks leaning on each other so neither one falls down. Today, with its 50-to-1 leverage and investment in volatile securities, the Fed looks more like a poorly run hedge fund than a central bank." - James G. Rickards on King World News.

 

Please go read the full post. It's information you need to make decisions in this economy.

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