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The Dow and Nasdaq are up because Boehner caved. Expect increases in spending.
…and part of that spending is corporate welfare, so stocks go up.
The big Zero’s reaction during the last week or so is EXACTLY why no one should trust the government to be in charge of all healthcare.
How can anyone trust a vindictive bastard, who tries to inflict as much pain as possible on the general public in order to “win” political points, to run the healthcare system?
Wake up Amerika! The republicans won’t save you. Boehner is/has caved. Obama gets a debt ceiling raise. Supposedly in exchange for spending cuts down the road. Yeh, right. Want to buy some swamp-land in Florida, suckers!?
10 minutes ago:
WASHINGTON (AP) – Facing a fresh deadline, House Speaker John Boehner said Thursday that Republicans would vote to extend the government’s ability to borrow money for six weeks – but still leave the government shutdown in place pending fresh …
[…] here Written by Gold […]
Boehner is an economic moron; clearly a product of the American education system.
There was no need for a default mathematically as far as the math could be calculated, depending on assumptions on growth rate, inflation rate, interest rates, etc.
We have now added another entitlement – obamacare.
Unless Congress gets a handle on spending, the US is doomed. We are very close, if not already past the point of no return.
The government cannot increase taxation without further degrading the economy.
At the current rate of taxation we have no real growth.
Have you looked at the real increase in median wages over the last decade?
Have you looked at unemployment, especially for youth?
You do remember that when Obama took office the unemployment was only just over 5% or are memories too short?
The Big Zero and Democratic spending is a cancer on society.
Increased taxation rates will not do anything. Don’t you remember the revenue achieved begins to drop off as rates increase too far. WE ARE AT THAT POINT.
Expect a carbon tax, expect a VAT, but in the long run these measures will not increase revenue. The government is sucking too much out of the economy. The past republicans were no better at controlling spending. A socialist/marxist economy ALWAYS FAILS. It is just a question of when, or how long it can be preserved by ever-increasing enforcement measures and loss of freedoms.
The unemployment rate was 7.8% when Obama took over. Not 5 percent. Look at the chart.http://data.bls.gov/timeseries/LNS14000000
Thanks for the data. I clearly was remembering what the unemployment data was the year before he was elected. I was in error. I also remember that Bush consulted with Obama during the hand over period and was a useless president, with no intention of keeping spending under control.
I do believe you are correct PF, but I also do not believe that is the point.
Why do I say that?
Because I am convinced that the calculations are different today than in the past. The universe which is counted is getting smaller and smaller.
I do know that our economy is not in good shape. Is that completely the administration’s fault? Nope, it just isn’t helping much!
I am an idiot!
Not hardly, CFS!
Interesting! I guess a forgery of a pseudonym is possible. Or maybe another senior moment. I know I may be guilty occasionally of an idiotic act, but I don’t remember calling myself an idiot.
Car, I can’t remember just what a senior moment is!
Hate to be repetitive, but as usual I agree CFS
Paul Craig Roberts explained, all Obama has to do is declare an emergency and he gets everything he wants.
Somebody already posted it, the interview was usa watchdog.
Its all bs, raising the debt ceiling is a default, if he wanted the government could live within their tax taken in.
Im not sure how many people see whats happening, I do know nothing of significance is being done.
The other day, a 70yo man called the police,at his home, they didnt come, he went to church, they waited for him outside his churhc, when he came out the exit was surrounded and they litteraly set the dogs on him.
Another recent incident was a man calling for help and he became the target,his 66yo mother begged the police not to harm him, they thru her on the ground drove their knees into her chest and shot her unamred son dead.
I give the very short versions of these stories but there are many.
We live in a police state, pure and simple.
This is all bs games intended to decieve the people, and it works as well as it always has and has repeatedly proven itself to work.
Step by step they tighten the nose, meantime, they have people discussing wether manipulation is real or not.
They are sure good at what they do.
Up or down, I continue to buy gold, I dont think guns would work.
“My interview with Greg Hunter of USA Watchdog is, in my opinion, one of my best. The interview covers a broad range of issues or possibilities and makes it unnecessary for me to write a column about the government shutdown and its implications and possible consequences.”
~Paul Craig Roberts
Thanks for the link, Irwin!
A lot of people are going to hate me for saying this, but I too believe that for Big Al a gun would not work. Will precious metals? I believe so!
AL,,,,DO NOT GIVE UP YOUR GUN………….
I think Roberts talks about the 1.7 billion hollow point bullets , the HLS purchased.,,why, to maybe use against the citizens. Do not forget , after WW1, THE ARMY under Patton killed WWI vets , who wanted their pension money, and that was in WASHINGTON DC.
I THINK WE HAVE THE SAME GOVT.
bye a MAN AL LOVE GUNS !
How does the manipulation work? Anybody, please explain. Thanks
luk diss ( http://www.youtube.com/watch?v=r_YKaHkKR74 ) PF
luk diss ( http://www.youtube.com/watch?v=SJpvAZF8V74 )
http://www.youtube.com/watch?v=8DZ_IcGhamM and diss !
Manipulation is done mainly to protect the american dollar.
It begins in 1934 with the Gold Reserve Act
The first move was to confiscate gold and raise the price from 20.67 an once to $35 (?)
It is re iterated by Lyndon Johnston when silver was taken out of the currecny in 1964(?)
He gives a speech telling the people it is pointless to hoard silver as the government will ensure there is no profit in it.
It continues when Nixon defaults on the Bretton Woods agreement and stops allowing dollars to be exchanged for gold instead of allowing the gold price to rise to equal the amount of currency at the time.
Today, the federal reserve thru central banks, bulion banks and banks like jp morgan bundasbank, hsbc,scotia macotta, bank of england and others, (they are all the same bank) many of them own shares of the federal reseve but this is ment to confuse, the federal reserve owns them and our governments. (people will argue about that)
They manipulate by selling unlimited contracts in whichever commodity they choose to lower the price of, they can do this as it is legal and they have a printing press, they can also buy an unlimited amount of any commodity the wish to raise the price of.
This is a very basic explanation, Ted Butler has excellent records of manipulations of silver,gata has examples of gold and how its done.
The point of it all is that we do not have free markets, they are controlled, like communism or facism, believers in liberty and or capitilism oppose manipulation.
Austian economists argue that eventually a controlled economy will crumble.
But, as it stands, people are choosing a controlled facisist police state, either thru ignorance or good men doing nothing, an inability to do anything or desire.
BB Great summary that I hope everyone reads and understands. I only found out about this about a year and half ago but the information has been online for a long time. Most people still do not want to believe that we do not have have free markets. Nothing we can do about that.
Glenn, what I found interesting was the “gurus” guys that are “knowledgable”, the guys that sell their stuff because they know so much in this buisiness are unaware or dont mention it.(Could be fear of course, this government just destroys or kills whoever they want)(even the police kill with impunity now)
I appreciate Gary, I find his outlook a huge improvment and is “fresh air” to me.
I have been saying for years anywhere I could that the corruption including manipulation should be spoken of as a matter of fact. We must acknoledge a situation before it can be dealt with.
But people refuse to believe even when presedents actions and public speechs are blatantly telling people markets (PMs) are manipulated.
Beliefs and they way they work are a funny thing.
Even though the information is right in front of our eyes if we just wanted to read it we just don’t want to read it. The Treasury Dept site tells us in clear language that they can intervene in the markets. Its not secret. Two years ago none of the pundits discussed this, prefering to blame JPmorgan for all the manipulation. Yes, the bullion banks do manipulate, as well as hedge funds. They get a free pass because the Treasury Dept is also involved. The Treasury Dept does not want any unnecessary bad press so the behaviour is overlooked. Also, if the bullion banks are keeping gold suppressed the Treasury Dept does not have to get involved. Its a mutually beneficial relationship. And, the Bullion banks are allowed to fatten their coffers on the backs of PM investors and not the tax payer which is a great deal for the Treasury Dept. The whole think stinks for stackers. Might as well know the truth about it though.
Is it or is it not manipulation when someone or some entity with extremely deep pockets puts so much supply out there that the price goes down and then when the price goes down they buy it back?
Of course it is, but it is not illegal and that is truly unfortunate. But the big boys are certainly making a lot of money.
It certainly makes me stop and think.
More on this later for sure!
http://www.youtube.com/watch?v=821d2lOm92c ( and diss ) franky BUY GOLD !
That video brings back memories of old man Bob Chapman. He knew a lot but he was also wrong a lot. He knew all about Fed manipulaion of markets yet he shouted from the roof tops that we should be buying gold at 1900 dollars per oz. He always said buy PM at any price. Boy was he wrong.
gold 1900 $ is a buy ( no money you need ) and real GOLD coins put away ! onder 300.000 $ bob chapman never talk gold stocks ! buy gold fore long time ! no play no games was BOB CHAPMAN !
GLEN no play diss banker shum day will ROB YOU ! bye carevol ! good luk !
Oh you are wrong as he did tout stocks!
Franky, Bob Chapman also recommended buying gold stocks. Listen to the video that you shared. Bob Chapman was a real nice guy. Just wrong all the time. I do commend him for warning us about Fed market manipulation though. Buying gold at any price is a fools game and that was Bob’s message and his legacy unfortuneately.
yes only money yo no need listen videos no NO MONEY yo need and onder 300;000 TO 500.000 $ no buy gold stocks gold stocks are play luk the news the entermaional forecaster !
You know it’s funny but I was friends with him at one time until I realized the value of full disclosure.
Simple supply and demand. Want to move something down in price simply “sell” the daylights out of your supply. If an entity is large enough that will drive the price of that something down.
“Okay, the Arabs yanked every penny they had with us; they hit all the other outfits too so it’s across the board.
“That means every bank in the country out there is going to be struggling for liquidity trying to cover those cash withdrawals; we’re dumping everything.
“Treasury bills, bonds, fannie maes, commercial papers, we want it all sold. Fed funds, eurodollars; borrow whatever you can find up to two hundred million. Foreign exchange – no positions; bullion – grab what you can get.
“Alright, let’s hit it.”
The New Millenium Currency Collapse Was Foretold in 1981… In a Movie
Manipulation? NAH!!! (me being sarcastic). I have been asking a logical question for a few years now: if the globalists want our wealth so badly (which everyone on this board seems to think is the case), then why on earth would any logical thief go after monopoly money first? Why not go after the REAL source of wealth (gold) first and then come in with the mop up crew and take out the fiat currencies – the first would give the people serious head wounds and the second would squeeze every last drop of blood out of them. I know that is how I would do it if I were a “piece of crap” globalist. I stress the “piece of crap” part!!!
bentnail…………..the monopoly money has rent due on it…, if they got all the gold, and they controlled all the gold the game would be over, and they would not have the joy in watching everyone squirm…………
yes BUY GOLD i BUY ( PVG TODAY ) 100 % agree jerry !
With all due respect, your recommendation to purchase gold is one reason why I WILL NOT hop on the train.
http://www.youtube.com/watch?v=5-Ku9TS7_fE cool cool
we live in a lie and liars !
i no train i BUY slowly cool and time diss time now is wonderful to build a market monopoly BUY GOLD SSISYS !!!
I just wanted to apologize for my comment … You just seem a little bit paranoid to me. That said, my comment was uncalled for.
Very good point The Tall
The big question in my mind is, “how do we make lemonade out of this?”
Trust me we will!
What I saw today in the markets was no better than a trainer shoving a sponge down a horses throat so he couldn’t breathe during the race. It goes undetected. This is the environment we are in.
I just heard from a friend hiking in California. He was mad because the park rangers had removed the handles off drinking fountains. How petty is that?
Who owns the National parks and trails anyway? The people or the Government?
I’m more than ready for a revolution.
Took off the handles?
Anyone can make prognostications after the fact, and that is Gary’s only ability. His cycles are meaningless. He encouraged subscribers to hold fast to their gold stocks as they would outperform the stock market. Well, they tanked and have about 30% more to go to hit rock bottom while the stock market continues higher as Gary calls each top only to see it go higher. He’s a major loser and so is everyone who subscribes to his less than worthless newsletter.
I agree, but I also agree with Pibe that once someone has unsubscribed, then that is a great step toward no longer being a loser anymore.
Gary’s new “Quest to turn $300 to $100,000” seems like a sign of desperation….and the odds are against sucess. Failure a virtual certainty, just like with Gary’s other model portfolios in the past.
$300 to $100,000? I missed that one!
Sorry Mark but I have to disagree with you. Once you unsubscribe from Gary’s newsletter you are not a loser anymore! Are you feeling confused and deceived? Yes you can regain your sanity and freedom! Stop being a loser! You can do it! Yes you can! Just click on “unsubscribe”!
I took my hefty losses on major gold stocks several days ago. I know I can always buy cheaper as there is still more downside for pm stocks while the general market has little downside since the fed supports it. I just buy on the morning dips that occur everyday and sell off on little rallies so that I am in cash at the end of the day.
I agree that piece of crap, GDX, is going much, much, lower, but there’s no iron-clad (or gold-clad…LOL!) guarantee in trying to predict stock prices or the market direction.