It's Otto Preminer in Stalag 17! Or General Burkhalter from Hogen;s Heros TV show of 1960's, "Shut up Klink or I will send you to zee Russian front"
Seriously the currency wars have been on for some years now and last time this happened we ended up with WW2. The elite are already working on the successor to all the failing fiat currencies in our debt based Ponzi economic system which is reaching the wall. The "Bancor" which will be based on a basket of hard assets is 'their' crisis solver.
Abolish the private jewish federal reserve.Since 1913 they have destroy the country.They have create wars,depressions and brought poverty to America,their final goal in total destruction.
Read this book for free on internet to understand all the problem America is facing.
A little bit extreme? You mean a little too much of the truth?? YOU ELITIST BITCH!! With your european accent!! Hope you and your friends at Crap News Before Crash network (CNBC) smash and burn for giving false and half truth info to the masses.
Even if your right. People are wrong, and you don't have to look far in history to see situations where the wast majority of people end specialists were wrong about something. And instead of thinking this your taking a long shot and saying its a conspiracy. I think that if the collapse does come, then the people that lead to it will be finished in politics. Why would they willingly risk that?
1:40 - "I truly think we are all toast" - That made my day.
What kind of moron do you have to be to believe that there is a "recovery".
I'm guessing the same kind of morons that thought that the Titanic would never sink and believed that it was "just a drill" until they were freezing to death in the North Atlantic.
I'm mad at these morons because they won't survive the collapse of society and their bodies will be lying everywhere, stinking like hell and spreading diseases.
Faber likes stocks over bonds because bond prices of existing issues must fall in the face of new issues, which are being offered at successively higher rates in order to attract new buyers.
In short, Faber is saying, buy stocks (in Asia) because you have a better shot at getting it right.
@TruthAxe Even though there will be tremendous monetary stimulus in the days ahead, irrespective of the part of the world in which you live, some of that stimulus money and not all, will go into stocks. Therefore, even if Inflation affects stock prices, the Inflation of paper assets will be much higher than that of the stocks. This is the reason I agree with Marc, when he says buy stocks and not bonds. I also agree that the other guy simply makes observations and is clueless on the future.
@bsg005 It's simple. Faber is betting on massive money accretion and hence cash inflation (new notes and coins), even in the face of non-revolving credit deflation (no bank lending).
With cash inflation, new bonds issues shall have higher yields. Anyone holding existing bonds, the prices of such bonds must fall to match yields of new issues.
Thus, Faber says buys stocks instead. Always, he recommends Asian stocks, because Asia is growing faster in percentage terms.
@TruthAxe If simply Inflation were to occur and the bond market collapses and stocks rise due to the increase in money supply, that does not create any new purchasing power for stock-holders in terms of USD. The only way stock-holders can increase their purchasing power, is if the value of USD denominated commercial paper declines faster than the inflation led rise in stock prices. If all the stimulus goes exclusively into stocks, there's no difference between holding bonds or stocks.
@bsg005 Which stock holders? Holders of Preferred shares or Common shares?
Stock holders can't increase their purchasing power, only sellers of stocks who bought long and sold at a profit whereby the profit rate exceeds the money accretion rate.
It's the act of those bidding up stock prices that increases the purchasing power for existing stock holders and nothing done by those stock holders themselves.
@bsg005 Actually, if the net inflow into a stock exchange happens at a rate faster than the money accretion rate (debasement rate), then the bid up of stock prices leads to an increase in buying power for those selling to those buying.
@TruthAxe We have to remember that we're not waiting for the debasemt to happen, its happening, stock markets around the world went up by around 100% after the collapse of 2008. So if you're a short-term investor/trader, you may prefer to have the inflow into the markets run faster than the debasement rate of the common currency. But for long-term investors, they need to pick buys in assets that are less affected by monetary stimulus. My talk is about buying during debasement and not selling.
@bsg005 Technically, it's not debasement at all, since it's a fiduciary money system and not a specie money system.
All that can happen is money accretion (new notes and coins entering into circulation with existing ones).
Too many long-term so-called investors buy speculative securities and don't invest, in truth, say when you buy a Jamba Juice franchise or open up a pizzeria.
@TruthAxe I don't know what the real technical meaning of the word 'debasement' is coz I sure were not alive when that word was coined. But I tend to use the word to communicate that there is an increase in the money supply which is not distributed among the holders of the currency, in the proportion of their holdings. So even if you call it Money Accretion or anything else, the product is simply Inflation. And, too many so-called 'good people' end up doing a lot of bullshit.
@bsg005 Even "money supply" is a horrible phrase, for wherever you have money supply, you must have money demand. Rightly, it's Money Supplied, that is, credit advanced by bankers.
There's only cash (notes, coins) and credit. Currency is money (notes and coins) AND all credit that has bearer negotiability.
Money accretion has a precise meaning as does inflation.
Inflation is a purpose-driven process undertaken by central bankers in hopes of expanding economic activity.
@TruthAxe Basically you're trying to differentiate between the noun form and verb form of the same concept vis-a-vis Money Supply and Money Supplied; I think it will depend on the perception of time, of the user of that concept, to decide whether he talks in terms of the noun or the verb. Money Accretion/Money Suppied refers only to the increase in the Money Supply [noun], wheres Money Supply [noun again] can be alternatively decreased as well.
@TruthAxe As for Central Bankers' hopes of expanding economic activity through Inflation, I don't think any Central Banker is foolish not to understand that Inflation in our society effectively means theft of purchasing power. But when you have Central Bankers around the world talking about being comfortable with 2-3% Inflation, you know that theft of purchasing power is something they've grown to tolerate.
@bsg005 Inflation means an expansion of credit, either non-revolving or revolving. It does not mean a "rise in prices" or a "rise in the price level".
A banker buys money and debt by selling debt. Central bankers exist to facilitate member bankers in doing this act.
Money accretion (new notes, coins joining existing ones in circulation) is a side effect of having a fiduciary money system. Yet, it would be no different if miners mined more gold in a specie system.
@TruthAxe If you examine Central Banking from its inception in 1694, you'll notice that the greatest Inflation was injected not with the hope of expanding economic activity, but with the hope of simply saving failed enterprises and failed economies, which were previously subjected to smaller levels Inflation that led to credit bubbles and malinvestment. The bottomline is that no Central Banker who feigns ignorance to the vicious cycle of chaos that is Inflation, is being 100% truthful.
@TruthAxe@TruthAxe For any kind of stock, if the currency in which the stock value is denominated, is debased, and all the monetary stimulus flows into the stock market, then the bid up stock prices will not be an increase in purchasing power, but rather Inflation. In that situation, all commercial paper and stocks are even. But if some, but not all the stimulus money goes into stocks, then the Inflation of commercial paper will be proportionate to the net stimulus and more than stock inflation
@bsg005 Actually, if the rate of net increase of cash into a stock exchange, say from stimulus, exceeds the debasement rate (money accretion rate), then those who sell stocks at bid up prices achieve an increase in buying power; but they must sell to realize the gains.
Inflation is means an increase in the economic quantities that have the power of purchasing. It does not mean a rise in prices, atho, often prices rise subsequent to inflation.
@TruthAxe What you said is right for people who've bought into the market before the currency debasement. I was talking about buying strategy during the period of debasement. So in different ways both of us are saying the same thing, I guess.
@TruthAxe Inflation/Deflation in human society is bad only coz you cannot distribute the expansion/contraction of money supply on every holder of the currency 'in the proportion of their holdings'. If that were possible, Inflation/Deflation would would not be harming citzens. But even then, the increases/decreased in Demand or Supply cannot be measured with perfect accuracy, unless there is zero Inflation and zero Deflation.
@TruthAxe It is because my gut instinct says that all the stimulus money will not go exclusively into stocks, that I feel that stocks will not be as inflated as commercial paper, and hence the right advice to buy stocks over bonds. I would invest in Asia not coz of drowth rates but simply coz even with Inflation and higher taxes, the productivity of the sheer no. or people who are yet to reach a decent standard of living, will override the negative effects of Inflation and high taxes.
@bsg005 There's massive deflation in non-revolving credit and revolving credit.
There's been inflation in money tho as money accretion has led to new notes and coins joining additional ones in circulation. This should not surprise anyone as persons lacking credit demand to hold cash.
So-called Stimulus Money has gone into the pockets of union workers of the public sector, mostly. They've been spending it. Banks haven't levered from it.
@TruthAxe Yeah. If you check out the data on Treasury auction of debt after the collapse of 2008, you'd find that the biggest buyers of that debt have not been foreigners, but Wall Street banks. Using TARp annd the FED's lending window, the banks borrowed at less then half-a percent from the FED, and then lend it to the Treasury. Effectively, the banks are making money doing Proprietary trading and lending tax-payer dollars back to the govt. for the Interest. That is the Inflation in the system.
@TruthAxe Banks are not lending to the public, but they're booking massive profits. Two ways their doing that, are through Proprietary Trading and arbitraging between the FED's Funds Rate and the yields on Treasury debt auctions. Its just that Bernanke and Co. don't want the public to know that the big increase in money supply is happeneing, far away from the eyes of the common man, but sure to hit him somewhere down the line. In Economics, laymen always get deceived by what they see an hear.
@TruthAxe If anybody buys stocks in Asia which have reasonable dividend yields, I don't know how they cannot get it right over the long-term, coz even with monetary loosening and the propensity of the political class to tax wealth creation, the yet unrealized aspirations of the 3 billion people, would result in a boom in production of goods and services to make a fortune out of these stocks.
@TruthAxe I agree, there is no Investment in the world that is without Risk. Not even Gold or Silver, coz that can also be stolen. Risk is the very thing, that makes Man a fighter. It is what propells him to greatness. Unfortunately for all the people wanting to make money risk-free, they're not aware that they're just asking for a demotion in real life.
@bsg005 Yes. A massive sell off in gold or silver could lead to a loss, easily, even accounting for buying power. Once anyone bets, their money is at-risk.
Risk is what makes humans alive, a key differentiator between humans and animals.
I was impressed what David Bloom said, "some nations are Q-Eing, some aren't...it's all over the place...and the USA will always believe it can grow itself out"...VERY good analysis
@JMillerBayRidge Did you notice that David Bloom was not willing to take any serious future position, unlike Faber who seems to be more convinced about the direction ahead? Bloom seems to require more time to understand what's going on.
@bsg005 well, of course he doesn't deserve the sobriquet of "Gloom,boom, and doom" of Faber..but he makes an important observation, one of inconsistency and disorganization. And it is important, because both austerity and QE'ing will lead to a same result, in a different way. But, I think behind his prescient observations is also a similar realization to Faber.
@JMillerBayRidge Thanks for your comment. I agree that he makes a good observation. I personally think that asterity after Inflation, is akin to taking much of the pain now instead of in the future, but QE'ing is like setting up for much higher levels of pain later on. The difference is only in the amount of time taken and the amount of pain suffered before the economies restructure towards their equilibrium. Is that what you meant by saying 'same result in a different way?"
I am a civil servant. I worked with a private company before this job, that paid me 50% or less of what I make now. The private company made me work 80 hours a week. I live in NYC; one of the obligations was to go from what place to another. The private company did not pay for gas (about $300 per month), half of my health-care, I had to buy my own materials necessary for the business.
There was no overtime pay. As matter as fact, for my hours, I might have made less than minimum wage.... TBC..
When a middle-class worker 1)gets 1-2 weeks vacation a year 2) has to pay into health-care for a FT job 3) makes a disgusting salary in comparison to gov't jobs and can barely afford rent..there is a name for that; "exploitation".
Germany is in much better shape than us. They are fiscally responsible, but take care of the middle-class. I am tired of the Schiff's coming out, saying "yes, take the lube in the butt while I drive the Porsche". It's insulting and criminal.
@JMillerBayRidge But how long do you think your wages in the public sector will be higher than the private sector especially when the American private sector is becoming less effecient everyday? this reducing efficiency of the private sector cannot possibly fund the publi sector.
@JMillerBayRidge "Civil Servant" is mere rhetoric. You work in the public sector, as a government worker and no doubt, a union member.
Mathetmatically, in the long run, it is unsustainable for government workers to get paid more than private sector workers who pay the taxes, which constitute the wages of public sector workers.
wait...I pay taxes also. About 33% of my check goes to taxes. And how is it unsustainable if Germany and Canada have much more welfare and free health/universitty education for their citizens, but have a fraction of our debt.
Peter Schiff/Paul etc make socialism/public sector jobs analogous to Lenin and Mao. There are different kinds of socialism. EU countries and Canada balance the sectors. Germany has 34 hour weeks, urlaub, incredible production.
Blame Goldman Sachs, and these f*cking filthy corporations and banks running up quadrillion dollars of derivatives. My city budget is maybe 20 billion. That is innocuous. The bankster thieves have taken down entire economies.
It is very credulous to believe that unions are the enemy, and the private sector is golden.
@JMillerBayRidge Socialism means living by a council of bureaucrats who decide who gets what and often who does what. The USA is highly socialistic and has been since FDR.
Any taxes you pay to the govt for whom you work is a wash. You're paying for your own salary in that case.
The national debt is created by politicians, all 13 TRILLION of it. The citizenry has nothing to do with it.
Canadians and Germans have high govt debt relative to their GDPs.
and the German unemployment is remarkably lower. Also, Germany has a tremendous amount of financial responsibilities for reparations and the product of US/anglo-hegemony.
The national-debt is created by politicians; the military industrial complex, and profligate agendas that blight trillions from our economy.
Do you think Germany or Austria would be historically "economic powers" if they were fiscally irresponsible in their social programs?
And if you do your history, the Rothschild Creditanstalt took down Austria..and now the Austrian banking system has more debt than the government.
It's the massive debt, derivatives, totally nearly a quadrillion, that puts this crisis at a whole new level. It's paradoxical that people believe in trickle down, when in fact that Goldman's criminal behaviors have destroyed state budgets.
I agree, there is unneeded "government", but govt jobs are essential in countering exploitation.
It comes down to indecency when a boss will not provide adequate vacation, sick days, personal days, and a salary that sustains a middle-class. If you believe in billionaires using usury in order to create neo-feudalism, that's great.
That goes against all concepts of morality and humanism. If someone in your immediate family was ill, and you could get fired for taking a personal day, maybe you would be a little unhappy then?
and stop being message DJ...you're less than unintelligent !
@JMillerBayRidge I agree that bankers are evil, but no boss is responsible for the survival of any class of people. If the market pays somebody less, that's coz either there excess supply of that particular kind of labour, of there's a contraction in the supply of money, leading to lesser nominal wages. The bankers have to be taken out, but welfare state measures will kill an economy slowly. What the bankers love is the welfare state laden with massive debts.
It's easier to administer things on a vastly smaller scale. Also, U.S. taxpayers subsidize the German economy.
And all American pharaceutical customers as well as U.S. taxypayers who fund Medicare and Medicaid SUBSIDIZE the price of meds in socialist Germany as well as all Socialist Medicine countries of Europe.
You should quit while you are behind. You don't get economics.
@JMillerBayRidge Right now we're seeing a trend in Germany, Austria etc., of lessening the role of Govt.. How did the US become the no. 1 economy in the world? not through govt. intervention, but by the lack of it. No Income Tax , no Sales Tax, and no Central Bank. That was how America was built. Germany or any other country that redistributes wealth can only grow until the citizens become fed-up trying to pay for another's lunch. They're getting fed-up as we speak.
@JMillerBayRidge You see, the American worker's productivity is very low when compared to even other industrialised countries. Germany's labour force, even though expensive, is highly productive and make high quality stuff. This enables them to earn enormous forex. Plus, Germans save their money and don't spend it like the southern european countries or even USA. Germany's debt situation is better than the US, coz they spend efficiently and wisely, and save everything else.
@JMillerBayRidge Are you aware that Germany is now cutting back on the welfare measures? You can keep redistributing wealth for some time, but not forever, coz basically, if you first distort the marketplace in favour of some vested interests, later on you cannot rectify that by implementing a welfare state and redistributing wealth. That only makes the problem worse and you'll have to deal with the bigger problem later on. That's what's happeneing to all the European welfare states now.
@JMillerBayRidge Sweden was the mother of all welfare states until it understood a couple of decades back, that govt. redistribution effectively grew the economy by a multiplier of less than 1. Meaning, that for every i unit of govt. interference in the allocation of capital, the economic growth in real terms was less then 1.
@JMillerBayRidge Lenin and Mao were Communistic Capitalists, and what we have in USA from 1913 is a form of vieled Fascistic Capitalism where the state and corporate power are inter-twined. There has been no free-market in the USA since 1913. When America had a free-market, even though prices were constantly falling, the prices of all other goods and services were falling faster than the fall in wages, thereby leading to an effective rise in purchasing power.
@JMillerBayRidge My friend, Germany's GDP is under 4 trillion while its external debt is in excess of 5 trillion. Hardly the kind of country where I would like to become a citizen. Germans will have to pay far higher in taxes than at present to flush out the debt that increases on a compunded scale. If this aint enough to know the perils of the welfare state, wait until Obams'a time is over, to get to know it.
Yes...again, US hegemony. Ex; when Bush, GOrdon Brown, Blair, or Cameron forces countries like Czech, Poland, Greece, and eventually Turkey to join the EU, what happens? Where does all the debt go? Yes, Germany...one of the most powerful economies. So, the debt issue is to blame on Anglo-American hegemony. It costs trillions to prop up those Eastern European economies.
And let me ask a question, do you think big business and out of control corporatism, and low paying minimum wage jobs, is a stimulus for our economy? You see, I am a German/Austrian historian, and YOU WOULD BE AMAZED, that out of control corporatism actually serves the same function as a "dysfunctional" socialist state.
That being said, there are a plethora of problems. I am definitely pro-private business..but small business. This makes a better product, and creates balance with public sector.
Also..there is the problem of "labour-party socialism" infiltrating our country. Labour-party socialism is based on Britiains version, which is parasitic and disgusting.
For example; you need certification for everything (privatized hindrance), it takes years of study to gain this, and we have an inefficient university/public school system that doesn't focus on "vocation" earlier
There are so many reasons why we are in deep sh*t..it is not just a private/pub.sector argumemt
@JMillerBayRidge All problems start when Govt. starts breating down the throats of the economy by acting as regulator. Whatever you want to have, labour unions, stock exchanges, schools and universities, fractional banking, you can have it all and create prosperity for all, as long as the govt stays out of the market and does not keep changing the rules of the game by picking the winners and losers. Of course, people who want to live a life free of any Risk, would not agree with me.
@JMillerBayRidge The whole debate is only about how much Risk the citizens are willing to take. The founders of the US thought that all Risk should lie on the individual citizens and not on the Govt. So there was no Central Bank, no Income Tax and no Sales Tax and the country became the richest in the world coz Govt. never tilted the playing field or socialised the effects of booms or bust. That ended with govt. intervention and the rise of the public sector.
Listen..i like some things Paul, Schiff, and co. says, but they are wrong about other points...and the "founding fathers" rhetoric is really pissing me off. "We the people" (I will insert my own quote) have a very difficult time reforming as a culture and people.
It is this inability to reform and undergo enlightenment, that is leading this hubris to a catastrophic nemesis.
Quotes from a founding father with a fraction of our current population, cannot be considered practical in today's world
@JMillerBayRidge I agree that the inability to reform is the crucial problem. Different people have different ideas of reform based on how much Risk they're willing to take. We're not able to create a consensus on that issue. Most Americans want a Risk-Free life with govt. guarantees on almost everything, yet they don't want the govt. to take away their freedoms. All that the govt. can give is create bubble economies through central banking and legislation, leading to booms and busts.
I think if you have a balance in the public and private sector, that's used to keep one another in check, is not a negative thing. It is better than having economic volatility from administration to administration. Parliamentary democracy and coalitions is, in my opinion, a very good way to force parties to work together. It would also force the create of many other new parties.
This being said,I really see no way out..there is no way out without societal unrest, and MASSIVE MASSIVE austerity. In the process, manipulation and currency speculation will, of course, save the Blankfein's, Gates, and Buffets.
Do not be surprised to see something like "Hungary's mortgages in Swiss Francs" to become a MAJOR catalyst to a crash in Europe (swiss, Lietchtenstein, Austria)
@JMillerBayRidge My friend, many of the things that the founders spoke of, were natural laws of the world that apply throughout the existence of time. One example is that of Individual Risk. If you wish to transfer Risk to the shoulder of another person, do not complain when you lose your freedom to that person. In this world, Freedom is not a privilege. People have to earn it through Risk-Taking. Asking the Govt. for guarantees and then complaining of your dire straights, defies comprehension.
@JMillerBayRidge I agree that the problem starts with Corporatism, but do you recognize that the public sector will not grow, but for the growth of Corporatism? Its when a few corporates want the govt. to tilt the playing field in their favour, that laws like minimum wage are created, to serve as an entry barrier for small business. The govt. cannot do this without expanding in size. So if you like the public sector, say thanks to Corporatism.
If you look at the House of Rothschild's in Austria, the Creditanstallt and Rothschild monopoly benefited and was supported by the marxist, and the oligarch. Monopolies and too big to fails are VERY characteristic and connected to profligate dysfunctional socialist systems.
The only reason why the public-system grows is to keep in line with inflation.
This answers the other post about Germany..they are forced to take on bad debt by the bank of england..this is historically factual.
For example; WW2 reparations, the hague's desire to spread east and forcing Germany to loan to the east. Germany has expenses of the wazzoo. If you look at Deutschlands resiliency, you would realize that if they weren't the victims of Anglo-thuggery, they would be an anomaly; far superior to any country's economy.
They rebuilt dozens of large cities within 10 years. The USA cannot even get 20 floors done on the Freedom Tower. This is VERY SAD
@JMillerBayRidge I agree that British vested interests pushed Germany into World War 1 coz Britain was losing its status as the pre-eminent world power and Germany was rising very very fast. The same conflict will occur between the US and China. The wars in Iraq, Afghanistan and potentially in Iran, are all ways to encirlce China and cut off its supply of vital resources.
@JMillerBayRidge Guess what? Even Germany's debt is more than its GDP. So nobody has the high moral ground. Everybody wanted to get rich fast by issuing debt. By the way, the entire British empire was built on debt. That system merely got supplanted into the American empire. Debt Purchases create a realization that Returns are risk-free. So when the Debts default, it brings out the worst forms of aggression known to man.
What do you buy? Gold and Silver. End the fed and the bastards who back them. Only then can we free the whole world. Protest against "The new world order" by creating a new ETF and call it the "ETF" ETF (End The Fed ETF)
DOW is not risky medium term; FED will just print to pump it up.
Gold and Silver is risky (what isn't in a rigged market?); bullion banks still hammering away at it...BUT aren't they so predictable now?! a bit like 'Jack and the Beanstalk' grabbing the odd piece of bullion when he can.
Just gotta know when to climb up & down. There are some good charts out there now identifying patterns for trading with the giant.
I guess that's my point... we have to trade, we can't just invest anymore.
Great! Two, or was it three, Math Ph.D's generate a color chart (uhh, how Matrix!) that reveals correlation between markets. Ok. $10,000 later, Faber's point is grounded in historical study: had you held bonds, RE or gov. debt during the whole of the 20th c, you would have been wiped out. Had you held equities - or fine art - you would have survived. Even w/all the fluctuations and Wiemar, FDR, two wars...you would have survived.
@MarcusCMarcellus Keep all of our money? The owners of the FED, six guys, will be forclosing on America and relocating everybody into "ZONES"". They already forclosed on Columbia and Greece. For paper (fake/fiat) money loans. It's too late, the health care bill signed over our freedom and they are crashing the dollar to ZERO..Pretty soon come door to door and just take all the guns like they did in Katrina. It's called "Operation Vigilent Guard"..What chance will a handful make? FEMA hired XE.
Numbers are telling you something. But it depends on the full picture. A factor in one situation can mean something and with other factors can mean something else. Where do you think Faber is drawing his conclusions from? Growth of GDP is usually growth. As e.g. Shiff says associated with printing money, huge debt, high consumption and low production = "phony growth".
wow! it toko them 3 phd students to generate that color encoded correlation matrix? i could do that in 30 minutes including the animations and in the meanwhile bake a cake.
I often wonder why the world tries to keep going back to quantifying Market Risk, after repeated attempts in the past have brought about only failures. LTCM was the pioneer of quantification of Market Risk, and what they ended up with, was a bailout by the Fed. These mathematical theorems have mostly been useful during booms; they hardly ever sniff out the impending collapses.
True, but these guys can't help it. It's what their profession is all about. It's only natural for them to invest time in quantifying risk and growth in order to (or pretend to) correctly hedge. If they were to ever give up the statistical analysis, they'd quit the profession and just long-term invest. I personally find their mathematical approach to be highly dangerous and ulitmately suicidal as you can't correctly discover causality through induction, period.
@selfrealizedexile I agree with you 100% on that. They need a belief-system to make them comfortable and to confuse the rest of the public. The ultimate implied meaning of mathematical quantification of risk, is that human behaviour itself can be quantified with numbers. That is insane, unless of course the person doing that is the Creator of our Reality.
There's an excellent book out on this topic called "Fooled by Randomness" written by a top hedge fund manager which you may very well have already read.
7:00 uhh u buy real things?? commodities..things that hold that hold value.
chrisMcG17 11 months ago
It's Otto Preminer in Stalag 17! Or General Burkhalter from Hogen;s Heros TV show of 1960's, "Shut up Klink or I will send you to zee Russian front"
Seriously the currency wars have been on for some years now and last time this happened we ended up with WW2. The elite are already working on the successor to all the failing fiat currencies in our debt based Ponzi economic system which is reaching the wall. The "Bancor" which will be based on a basket of hard assets is 'their' crisis solver.
majik2hanz 1 year ago
What was that dude talking about at the end? It made absolutely no sense to me.
steamidjf 1 year ago
Abolish the private jewish federal reserve.Since 1913 they have destroy the country.They have create wars,depressions and brought poverty to America,their final goal in total destruction.
Read this book for free on internet to understand all the problem America is facing.
Who Is Esau-Edom...Who Is Esau-Edom..
MsMihailescu 1 year ago
A little bit extreme? You mean a little too much of the truth?? YOU ELITIST BITCH!! With your european accent!! Hope you and your friends at Crap News Before Crash network (CNBC) smash and burn for giving false and half truth info to the masses.
We are waking up dummy
Riddlerx333x 1 year ago
@Riddlerx333x
Yeah, and thats why they invite those people...
Even if your right. People are wrong, and you don't have to look far in history to see situations where the wast majority of people end specialists were wrong about something. And instead of thinking this your taking a long shot and saying its a conspiracy. I think that if the collapse does come, then the people that lead to it will be finished in politics. Why would they willingly risk that?
serialkiller1990 1 year ago
wheres that guy from, he got funny accent. the guy from uk, which part of uk
jayangli 1 year ago
@jayangli he's swiss
balbahut0g 1 year ago
1:40 - "I truly think we are all toast" - That made my day.
What kind of moron do you have to be to believe that there is a "recovery".
I'm guessing the same kind of morons that thought that the Titanic would never sink and believed that it was "just a drill" until they were freezing to death in the North Atlantic.
I'm mad at these morons because they won't survive the collapse of society and their bodies will be lying everywhere, stinking like hell and spreading diseases.
StuPedassle711 1 year ago
Search For the new series
"BUSH OBAMA DESTROYED US ARMY"
Part 3 uploaded
eliasmouawad 1 year ago
The other guy works for HSBC - that holds the largest short position on gold on the global commodities markets.
badkid73 1 year ago
This has been flagged as spam show
Heh, Canadadian dollar or Australian dollar or Swiss franc are emerging markets?? This guy only knows about the US dollar and Euro?? WTF.
TheBrotherMouzone 1 year ago
Heh, Canadadian dollar or Australian dollar or Swiss franc are emerging markets?? This dollar only knows about the US dollar and Euro?? WTF.
TheBrotherMouzone 1 year ago
lol while she was asking her question at 2:45, did the david guy make an inappropriate comment at her?
emichik86 1 year ago
america is like a middle aged man he needs stimulus (viagra) he does not want to give up visiting the Foxy Lady Chiang Mai.
So he takes Stimulus.
i dont think it is a bad thing.
Peter
foxbat101 1 year ago
Faber likes stocks over bonds because bond prices of existing issues must fall in the face of new issues, which are being offered at successively higher rates in order to attract new buyers.
In short, Faber is saying, buy stocks (in Asia) because you have a better shot at getting it right.
Again, Faber is right. The other guy is clueless.
TruthAxe 1 year ago 4
@TruthAxe Even though there will be tremendous monetary stimulus in the days ahead, irrespective of the part of the world in which you live, some of that stimulus money and not all, will go into stocks. Therefore, even if Inflation affects stock prices, the Inflation of paper assets will be much higher than that of the stocks. This is the reason I agree with Marc, when he says buy stocks and not bonds. I also agree that the other guy simply makes observations and is clueless on the future.
bsg005 1 year ago
@bsg005 It's simple. Faber is betting on massive money accretion and hence cash inflation (new notes and coins), even in the face of non-revolving credit deflation (no bank lending).
With cash inflation, new bonds issues shall have higher yields. Anyone holding existing bonds, the prices of such bonds must fall to match yields of new issues.
Thus, Faber says buys stocks instead. Always, he recommends Asian stocks, because Asia is growing faster in percentage terms.
TruthAxe 1 year ago
@TruthAxe If simply Inflation were to occur and the bond market collapses and stocks rise due to the increase in money supply, that does not create any new purchasing power for stock-holders in terms of USD. The only way stock-holders can increase their purchasing power, is if the value of USD denominated commercial paper declines faster than the inflation led rise in stock prices. If all the stimulus goes exclusively into stocks, there's no difference between holding bonds or stocks.
bsg005 1 year ago
@bsg005 Which stock holders? Holders of Preferred shares or Common shares?
Stock holders can't increase their purchasing power, only sellers of stocks who bought long and sold at a profit whereby the profit rate exceeds the money accretion rate.
It's the act of those bidding up stock prices that increases the purchasing power for existing stock holders and nothing done by those stock holders themselves.
TruthAxe 1 year ago
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bsg005 1 year ago
@bsg005 Actually, if the net inflow into a stock exchange happens at a rate faster than the money accretion rate (debasement rate), then the bid up of stock prices leads to an increase in buying power for those selling to those buying.
TruthAxe 1 year ago
@TruthAxe We have to remember that we're not waiting for the debasemt to happen, its happening, stock markets around the world went up by around 100% after the collapse of 2008. So if you're a short-term investor/trader, you may prefer to have the inflow into the markets run faster than the debasement rate of the common currency. But for long-term investors, they need to pick buys in assets that are less affected by monetary stimulus. My talk is about buying during debasement and not selling.
bsg005 1 year ago
@bsg005 Technically, it's not debasement at all, since it's a fiduciary money system and not a specie money system.
All that can happen is money accretion (new notes and coins entering into circulation with existing ones).
Too many long-term so-called investors buy speculative securities and don't invest, in truth, say when you buy a Jamba Juice franchise or open up a pizzeria.
TruthAxe 1 year ago
@TruthAxe I don't know what the real technical meaning of the word 'debasement' is coz I sure were not alive when that word was coined. But I tend to use the word to communicate that there is an increase in the money supply which is not distributed among the holders of the currency, in the proportion of their holdings. So even if you call it Money Accretion or anything else, the product is simply Inflation. And, too many so-called 'good people' end up doing a lot of bullshit.
bsg005 1 year ago
@bsg005 Even "money supply" is a horrible phrase, for wherever you have money supply, you must have money demand. Rightly, it's Money Supplied, that is, credit advanced by bankers.
There's only cash (notes, coins) and credit. Currency is money (notes and coins) AND all credit that has bearer negotiability.
Money accretion has a precise meaning as does inflation.
Inflation is a purpose-driven process undertaken by central bankers in hopes of expanding economic activity.
TruthAxe 1 year ago
@TruthAxe Basically you're trying to differentiate between the noun form and verb form of the same concept vis-a-vis Money Supply and Money Supplied; I think it will depend on the perception of time, of the user of that concept, to decide whether he talks in terms of the noun or the verb. Money Accretion/Money Suppied refers only to the increase in the Money Supply [noun], wheres Money Supply [noun again] can be alternatively decreased as well.
bsg005 1 year ago
@bsg005 No, not all all. That's not what I am doing. Persons hold a false concept of "money supply". All of those measures -- M1, M2, M3 -- are bogus.
There's only money, which is notes and coins of bearer negotiatibility, and there's credit, which, in various forms, are contracts.
Not all credit has bearer negotiability. In fact, most doesn't.
Most persons say "money supply" when then mean the CREDIT SUPPLIED by banks required to report to the Fed Res.
TruthAxe 1 year ago
@TruthAxe As for Central Bankers' hopes of expanding economic activity through Inflation, I don't think any Central Banker is foolish not to understand that Inflation in our society effectively means theft of purchasing power. But when you have Central Bankers around the world talking about being comfortable with 2-3% Inflation, you know that theft of purchasing power is something they've grown to tolerate.
bsg005 1 year ago
@bsg005 Inflation means an expansion of credit, either non-revolving or revolving. It does not mean a "rise in prices" or a "rise in the price level".
A banker buys money and debt by selling debt. Central bankers exist to facilitate member bankers in doing this act.
Money accretion (new notes, coins joining existing ones in circulation) is a side effect of having a fiduciary money system. Yet, it would be no different if miners mined more gold in a specie system.
TruthAxe 1 year ago
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bsg005 1 year ago
@TruthAxe If you examine Central Banking from its inception in 1694, you'll notice that the greatest Inflation was injected not with the hope of expanding economic activity, but with the hope of simply saving failed enterprises and failed economies, which were previously subjected to smaller levels Inflation that led to credit bubbles and malinvestment. The bottomline is that no Central Banker who feigns ignorance to the vicious cycle of chaos that is Inflation, is being 100% truthful.
bsg005 1 year ago
@bsg005 Inflation cannot get "injected". No "inflation cycle" exists.
When Central Bankers reduce a reserve requirement ratio, reduce interbank lending rates; they hope to engage in inflation. It doesn't work, always.
TruthAxe 1 year ago
@TruthAxe @TruthAxe For any kind of stock, if the currency in which the stock value is denominated, is debased, and all the monetary stimulus flows into the stock market, then the bid up stock prices will not be an increase in purchasing power, but rather Inflation. In that situation, all commercial paper and stocks are even. But if some, but not all the stimulus money goes into stocks, then the Inflation of commercial paper will be proportionate to the net stimulus and more than stock inflation
bsg005 1 year ago
@bsg005 Actually, if the rate of net increase of cash into a stock exchange, say from stimulus, exceeds the debasement rate (money accretion rate), then those who sell stocks at bid up prices achieve an increase in buying power; but they must sell to realize the gains.
Inflation is means an increase in the economic quantities that have the power of purchasing. It does not mean a rise in prices, atho, often prices rise subsequent to inflation.
TruthAxe 1 year ago
@TruthAxe What you said is right for people who've bought into the market before the currency debasement. I was talking about buying strategy during the period of debasement. So in different ways both of us are saying the same thing, I guess.
bsg005 1 year ago
@TruthAxe Inflation/Deflation in human society is bad only coz you cannot distribute the expansion/contraction of money supply on every holder of the currency 'in the proportion of their holdings'. If that were possible, Inflation/Deflation would would not be harming citzens. But even then, the increases/decreased in Demand or Supply cannot be measured with perfect accuracy, unless there is zero Inflation and zero Deflation.
bsg005 1 year ago
@TruthAxe It is because my gut instinct says that all the stimulus money will not go exclusively into stocks, that I feel that stocks will not be as inflated as commercial paper, and hence the right advice to buy stocks over bonds. I would invest in Asia not coz of drowth rates but simply coz even with Inflation and higher taxes, the productivity of the sheer no. or people who are yet to reach a decent standard of living, will override the negative effects of Inflation and high taxes.
bsg005 1 year ago
@bsg005 There's massive deflation in non-revolving credit and revolving credit.
There's been inflation in money tho as money accretion has led to new notes and coins joining additional ones in circulation. This should not surprise anyone as persons lacking credit demand to hold cash.
So-called Stimulus Money has gone into the pockets of union workers of the public sector, mostly. They've been spending it. Banks haven't levered from it.
TruthAxe 1 year ago
@TruthAxe Yeah. If you check out the data on Treasury auction of debt after the collapse of 2008, you'd find that the biggest buyers of that debt have not been foreigners, but Wall Street banks. Using TARp annd the FED's lending window, the banks borrowed at less then half-a percent from the FED, and then lend it to the Treasury. Effectively, the banks are making money doing Proprietary trading and lending tax-payer dollars back to the govt. for the Interest. That is the Inflation in the system.
bsg005 1 year ago
@TruthAxe Banks are not lending to the public, but they're booking massive profits. Two ways their doing that, are through Proprietary Trading and arbitraging between the FED's Funds Rate and the yields on Treasury debt auctions. Its just that Bernanke and Co. don't want the public to know that the big increase in money supply is happeneing, far away from the eyes of the common man, but sure to hit him somewhere down the line. In Economics, laymen always get deceived by what they see an hear.
bsg005 1 year ago
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bsg005 1 year ago
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bsg005 1 year ago
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@TruthAxe If anybody buys stocks in Asia which have reasonable dividend yields, I don't know how they cannot get it right over the long-term, coz even with monetary loosening and the propensity of the political class to tax wealth creation, the yet unrealized aspirations of the 3 billion people, would result in a boom in production of goods and services to make a fortune out of these stocks.
bsg005 1 year ago
"Brilliant PhD math students". LMAO. That guy is clueless.
First, when you buy something hoping to gain on a price rise, the money you bet with IS THE RISK. Dummies never get this right.
The DANGER is that you lose 100% of your money AT-RISK, less any side bets (e.g., insurance to cover losses).
The only way to live "risk free" is to not bet your cash. However, owing to the effects of Money Accretion, you lose buying power thru time.
TruthAxe 1 year ago
@TruthAxe I agree, there is no Investment in the world that is without Risk. Not even Gold or Silver, coz that can also be stolen. Risk is the very thing, that makes Man a fighter. It is what propells him to greatness. Unfortunately for all the people wanting to make money risk-free, they're not aware that they're just asking for a demotion in real life.
bsg005 1 year ago
@bsg005 Yes. A massive sell off in gold or silver could lead to a loss, easily, even accounting for buying power. Once anyone bets, their money is at-risk.
Risk is what makes humans alive, a key differentiator between humans and animals.
TruthAxe 1 year ago
I was impressed what David Bloom said, "some nations are Q-Eing, some aren't...it's all over the place...and the USA will always believe it can grow itself out"...VERY good analysis
JMillerBayRidge 1 year ago
@JMillerBayRidge Did you notice that David Bloom was not willing to take any serious future position, unlike Faber who seems to be more convinced about the direction ahead? Bloom seems to require more time to understand what's going on.
bsg005 1 year ago
@bsg005 well, of course he doesn't deserve the sobriquet of "Gloom,boom, and doom" of Faber..but he makes an important observation, one of inconsistency and disorganization. And it is important, because both austerity and QE'ing will lead to a same result, in a different way. But, I think behind his prescient observations is also a similar realization to Faber.
JMillerBayRidge 1 year ago
@JMillerBayRidge Thanks for your comment. I agree that he makes a good observation. I personally think that asterity after Inflation, is akin to taking much of the pain now instead of in the future, but QE'ing is like setting up for much higher levels of pain later on. The difference is only in the amount of time taken and the amount of pain suffered before the economies restructure towards their equilibrium. Is that what you meant by saying 'same result in a different way?"
bsg005 1 year ago
I am a civil servant. I worked with a private company before this job, that paid me 50% or less of what I make now. The private company made me work 80 hours a week. I live in NYC; one of the obligations was to go from what place to another. The private company did not pay for gas (about $300 per month), half of my health-care, I had to buy my own materials necessary for the business.
There was no overtime pay. As matter as fact, for my hours, I might have made less than minimum wage.... TBC..
JMillerBayRidge 1 year ago
When a middle-class worker 1)gets 1-2 weeks vacation a year 2) has to pay into health-care for a FT job 3) makes a disgusting salary in comparison to gov't jobs and can barely afford rent..there is a name for that; "exploitation".
Germany is in much better shape than us. They are fiscally responsible, but take care of the middle-class. I am tired of the Schiff's coming out, saying "yes, take the lube in the butt while I drive the Porsche". It's insulting and criminal.
JMillerBayRidge 1 year ago
@JMillerBayRidge But how long do you think your wages in the public sector will be higher than the private sector especially when the American private sector is becoming less effecient everyday? this reducing efficiency of the private sector cannot possibly fund the publi sector.
bsg005 1 year ago
@JMillerBayRidge "Civil Servant" is mere rhetoric. You work in the public sector, as a government worker and no doubt, a union member.
Mathetmatically, in the long run, it is unsustainable for government workers to get paid more than private sector workers who pay the taxes, which constitute the wages of public sector workers.
TruthAxe 1 year ago
wait...I pay taxes also. About 33% of my check goes to taxes. And how is it unsustainable if Germany and Canada have much more welfare and free health/universitty education for their citizens, but have a fraction of our debt.
Peter Schiff/Paul etc make socialism/public sector jobs analogous to Lenin and Mao. There are different kinds of socialism. EU countries and Canada balance the sectors. Germany has 34 hour weeks, urlaub, incredible production.
JMillerBayRidge 1 year ago
Blame Goldman Sachs, and these f*cking filthy corporations and banks running up quadrillion dollars of derivatives. My city budget is maybe 20 billion. That is innocuous. The bankster thieves have taken down entire economies.
It is very credulous to believe that unions are the enemy, and the private sector is golden.
JMillerBayRidge 1 year ago
@JMillerBayRidge Don't tell me the bankers have not gotten cozy with the unions to whip at good companies that they wanted to see go under.
bsg005 1 year ago
@JMillerBayRidge Socialism means living by a council of bureaucrats who decide who gets what and often who does what. The USA is highly socialistic and has been since FDR.
Any taxes you pay to the govt for whom you work is a wash. You're paying for your own salary in that case.
The national debt is created by politicians, all 13 TRILLION of it. The citizenry has nothing to do with it.
Canadians and Germans have high govt debt relative to their GDPs.
Learn mathematics.
TruthAxe 1 year ago
and the German unemployment is remarkably lower. Also, Germany has a tremendous amount of financial responsibilities for reparations and the product of US/anglo-hegemony.
The national-debt is created by politicians; the military industrial complex, and profligate agendas that blight trillions from our economy.
Do you think Germany or Austria would be historically "economic powers" if they were fiscally irresponsible in their social programs?
JMillerBayRidge 1 year ago
And if you do your history, the Rothschild Creditanstalt took down Austria..and now the Austrian banking system has more debt than the government.
It's the massive debt, derivatives, totally nearly a quadrillion, that puts this crisis at a whole new level. It's paradoxical that people believe in trickle down, when in fact that Goldman's criminal behaviors have destroyed state budgets.
I agree, there is unneeded "government", but govt jobs are essential in countering exploitation.
JMillerBayRidge 1 year ago
It comes down to indecency when a boss will not provide adequate vacation, sick days, personal days, and a salary that sustains a middle-class. If you believe in billionaires using usury in order to create neo-feudalism, that's great.
That goes against all concepts of morality and humanism. If someone in your immediate family was ill, and you could get fired for taking a personal day, maybe you would be a little unhappy then?
and stop being message DJ...you're less than unintelligent !
JMillerBayRidge 1 year ago
@JMillerBayRidge I agree that bankers are evil, but no boss is responsible for the survival of any class of people. If the market pays somebody less, that's coz either there excess supply of that particular kind of labour, of there's a contraction in the supply of money, leading to lesser nominal wages. The bankers have to be taken out, but welfare state measures will kill an economy slowly. What the bankers love is the welfare state laden with massive debts.
bsg005 1 year ago
@JMillerBayRidge Germany and Austria are tiny.
It's easier to administer things on a vastly smaller scale. Also, U.S. taxpayers subsidize the German economy.
And all American pharaceutical customers as well as U.S. taxypayers who fund Medicare and Medicaid SUBSIDIZE the price of meds in socialist Germany as well as all Socialist Medicine countries of Europe.
You should quit while you are behind. You don't get economics.
TruthAxe 1 year ago
@JMillerBayRidge Right now we're seeing a trend in Germany, Austria etc., of lessening the role of Govt.. How did the US become the no. 1 economy in the world? not through govt. intervention, but by the lack of it. No Income Tax , no Sales Tax, and no Central Bank. That was how America was built. Germany or any other country that redistributes wealth can only grow until the citizens become fed-up trying to pay for another's lunch. They're getting fed-up as we speak.
bsg005 1 year ago
@JMillerBayRidge You see, the American worker's productivity is very low when compared to even other industrialised countries. Germany's labour force, even though expensive, is highly productive and make high quality stuff. This enables them to earn enormous forex. Plus, Germans save their money and don't spend it like the southern european countries or even USA. Germany's debt situation is better than the US, coz they spend efficiently and wisely, and save everything else.
bsg005 1 year ago
@JMillerBayRidge Are you aware that Germany is now cutting back on the welfare measures? You can keep redistributing wealth for some time, but not forever, coz basically, if you first distort the marketplace in favour of some vested interests, later on you cannot rectify that by implementing a welfare state and redistributing wealth. That only makes the problem worse and you'll have to deal with the bigger problem later on. That's what's happeneing to all the European welfare states now.
bsg005 1 year ago
@JMillerBayRidge Sweden was the mother of all welfare states until it understood a couple of decades back, that govt. redistribution effectively grew the economy by a multiplier of less than 1. Meaning, that for every i unit of govt. interference in the allocation of capital, the economic growth in real terms was less then 1.
bsg005 1 year ago
@JMillerBayRidge Lenin and Mao were Communistic Capitalists, and what we have in USA from 1913 is a form of vieled Fascistic Capitalism where the state and corporate power are inter-twined. There has been no free-market in the USA since 1913. When America had a free-market, even though prices were constantly falling, the prices of all other goods and services were falling faster than the fall in wages, thereby leading to an effective rise in purchasing power.
bsg005 1 year ago
@JMillerBayRidge My friend, Germany's GDP is under 4 trillion while its external debt is in excess of 5 trillion. Hardly the kind of country where I would like to become a citizen. Germans will have to pay far higher in taxes than at present to flush out the debt that increases on a compunded scale. If this aint enough to know the perils of the welfare state, wait until Obams'a time is over, to get to know it.
bsg005 1 year ago
Yes...again, US hegemony. Ex; when Bush, GOrdon Brown, Blair, or Cameron forces countries like Czech, Poland, Greece, and eventually Turkey to join the EU, what happens? Where does all the debt go? Yes, Germany...one of the most powerful economies. So, the debt issue is to blame on Anglo-American hegemony. It costs trillions to prop up those Eastern European economies.
JMillerBayRidge 1 year ago
And let me ask a question, do you think big business and out of control corporatism, and low paying minimum wage jobs, is a stimulus for our economy? You see, I am a German/Austrian historian, and YOU WOULD BE AMAZED, that out of control corporatism actually serves the same function as a "dysfunctional" socialist state.
That being said, there are a plethora of problems. I am definitely pro-private business..but small business. This makes a better product, and creates balance with public sector.
JMillerBayRidge 1 year ago
Also..there is the problem of "labour-party socialism" infiltrating our country. Labour-party socialism is based on Britiains version, which is parasitic and disgusting.
For example; you need certification for everything (privatized hindrance), it takes years of study to gain this, and we have an inefficient university/public school system that doesn't focus on "vocation" earlier
There are so many reasons why we are in deep sh*t..it is not just a private/pub.sector argumemt
JMillerBayRidge 1 year ago
@JMillerBayRidge All problems start when Govt. starts breating down the throats of the economy by acting as regulator. Whatever you want to have, labour unions, stock exchanges, schools and universities, fractional banking, you can have it all and create prosperity for all, as long as the govt stays out of the market and does not keep changing the rules of the game by picking the winners and losers. Of course, people who want to live a life free of any Risk, would not agree with me.
bsg005 1 year ago
@JMillerBayRidge The whole debate is only about how much Risk the citizens are willing to take. The founders of the US thought that all Risk should lie on the individual citizens and not on the Govt. So there was no Central Bank, no Income Tax and no Sales Tax and the country became the richest in the world coz Govt. never tilted the playing field or socialised the effects of booms or bust. That ended with govt. intervention and the rise of the public sector.
bsg005 1 year ago
Listen..i like some things Paul, Schiff, and co. says, but they are wrong about other points...and the "founding fathers" rhetoric is really pissing me off. "We the people" (I will insert my own quote) have a very difficult time reforming as a culture and people.
It is this inability to reform and undergo enlightenment, that is leading this hubris to a catastrophic nemesis.
Quotes from a founding father with a fraction of our current population, cannot be considered practical in today's world
JMillerBayRidge 1 year ago
@JMillerBayRidge I agree that the inability to reform is the crucial problem. Different people have different ideas of reform based on how much Risk they're willing to take. We're not able to create a consensus on that issue. Most Americans want a Risk-Free life with govt. guarantees on almost everything, yet they don't want the govt. to take away their freedoms. All that the govt. can give is create bubble economies through central banking and legislation, leading to booms and busts.
bsg005 1 year ago
I think if you have a balance in the public and private sector, that's used to keep one another in check, is not a negative thing. It is better than having economic volatility from administration to administration. Parliamentary democracy and coalitions is, in my opinion, a very good way to force parties to work together. It would also force the create of many other new parties.
JMillerBayRidge 1 year ago
This being said,I really see no way out..there is no way out without societal unrest, and MASSIVE MASSIVE austerity. In the process, manipulation and currency speculation will, of course, save the Blankfein's, Gates, and Buffets.
Do not be surprised to see something like "Hungary's mortgages in Swiss Francs" to become a MAJOR catalyst to a crash in Europe (swiss, Lietchtenstein, Austria)
JMillerBayRidge 1 year ago
@JMillerBayRidge My friend, many of the things that the founders spoke of, were natural laws of the world that apply throughout the existence of time. One example is that of Individual Risk. If you wish to transfer Risk to the shoulder of another person, do not complain when you lose your freedom to that person. In this world, Freedom is not a privilege. People have to earn it through Risk-Taking. Asking the Govt. for guarantees and then complaining of your dire straights, defies comprehension.
bsg005 1 year ago
@JMillerBayRidge I agree that the problem starts with Corporatism, but do you recognize that the public sector will not grow, but for the growth of Corporatism? Its when a few corporates want the govt. to tilt the playing field in their favour, that laws like minimum wage are created, to serve as an entry barrier for small business. The govt. cannot do this without expanding in size. So if you like the public sector, say thanks to Corporatism.
bsg005 1 year ago
If you look at the House of Rothschild's in Austria, the Creditanstallt and Rothschild monopoly benefited and was supported by the marxist, and the oligarch. Monopolies and too big to fails are VERY characteristic and connected to profligate dysfunctional socialist systems.
The only reason why the public-system grows is to keep in line with inflation.
This answers the other post about Germany..they are forced to take on bad debt by the bank of england..this is historically factual.
JMillerBayRidge 1 year ago
For example; WW2 reparations, the hague's desire to spread east and forcing Germany to loan to the east. Germany has expenses of the wazzoo. If you look at Deutschlands resiliency, you would realize that if they weren't the victims of Anglo-thuggery, they would be an anomaly; far superior to any country's economy.
They rebuilt dozens of large cities within 10 years. The USA cannot even get 20 floors done on the Freedom Tower. This is VERY SAD
JMillerBayRidge 1 year ago
@JMillerBayRidge I agree that British vested interests pushed Germany into World War 1 coz Britain was losing its status as the pre-eminent world power and Germany was rising very very fast. The same conflict will occur between the US and China. The wars in Iraq, Afghanistan and potentially in Iran, are all ways to encirlce China and cut off its supply of vital resources.
bsg005 1 year ago
@JMillerBayRidge Guess what? Even Germany's debt is more than its GDP. So nobody has the high moral ground. Everybody wanted to get rich fast by issuing debt. By the way, the entire British empire was built on debt. That system merely got supplanted into the American empire. Debt Purchases create a realization that Returns are risk-free. So when the Debts default, it brings out the worst forms of aggression known to man.
bsg005 1 year ago
"I truly think we are all toast."
Beautiful :D
Just keep buying up that physical metal. Word on the street is that the COMEX has a three month delay in physical delivery for large gold bars.
Silver will be the easiest to corner because industry will eventually be forced to move the price realistically.
It's a slingshot. The longer price suppression goes on, the higher it'll explode.
LordDyhalto 1 year ago
What do you buy? Gold and Silver. End the fed and the bastards who back them. Only then can we free the whole world. Protest against "The new world order" by creating a new ETF and call it the "ETF" ETF (End The Fed ETF)
BackedBySilver 1 year ago
Marc is talking about longer term and not what happens during the initial deflation we are facing
Rasenkrieger 1 year ago
DOW is not risky medium term; FED will just print to pump it up.
Gold and Silver is risky (what isn't in a rigged market?); bullion banks still hammering away at it...BUT aren't they so predictable now?! a bit like 'Jack and the Beanstalk' grabbing the odd piece of bullion when he can.
Just gotta know when to climb up & down. There are some good charts out there now identifying patterns for trading with the giant.
I guess that's my point... we have to trade, we can't just invest anymore.
metaltect 1 year ago
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Marc Faber is just another CNBS wanker.
TheTopBloke 1 year ago
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@TheTopBloke And you are just another YouTube comment wanker
Axiomatic75 1 year ago
Great! Two, or was it three, Math Ph.D's generate a color chart (uhh, how Matrix!) that reveals correlation between markets. Ok. $10,000 later, Faber's point is grounded in historical study: had you held bonds, RE or gov. debt during the whole of the 20th c, you would have been wiped out. Had you held equities - or fine art - you would have survived. Even w/all the fluctuations and Wiemar, FDR, two wars...you would have survived.
Cool charts and Quants are no match for wisdom.
MarcusCMarcellus 1 year ago 14
@MarcusCMarcellus You've said it right.
bsg005 1 year ago
@MarcusCMarcellus Keep all of our money? The owners of the FED, six guys, will be forclosing on America and relocating everybody into "ZONES"". They already forclosed on Columbia and Greece. For paper (fake/fiat) money loans. It's too late, the health care bill signed over our freedom and they are crashing the dollar to ZERO..Pretty soon come door to door and just take all the guns like they did in Katrina. It's called "Operation Vigilent Guard"..What chance will a handful make? FEMA hired XE.
17seventySIX 1 year ago
@17seventySIX The game is over. We're completely broke and hiring mercenaries to fight our wars and operate within our borders.
StuPedassle711 1 year ago
@MarcusCMarcellus
If you don't know how to interpret them.
Numbers are telling you something. But it depends on the full picture. A factor in one situation can mean something and with other factors can mean something else. Where do you think Faber is drawing his conclusions from? Growth of GDP is usually growth. As e.g. Shiff says associated with printing money, huge debt, high consumption and low production = "phony growth".
serialkiller1990 1 year ago
sounded more like a south african accent to me...
klitschko88 1 year ago
wow! it toko them 3 phd students to generate that color encoded correlation matrix? i could do that in 30 minutes including the animations and in the meanwhile bake a cake.
AmandaButtram 1 year ago 2
What does the other guy say when she asks about liking gold?
topshotmx8 1 year ago
@topshotmx8
Sounded like "do I want to go on a ride with you?" which made for a shaky come on. But, it's probable I misheard his Australian / NZ accent.
selfrealizedexile 1 year ago
I often wonder why the world tries to keep going back to quantifying Market Risk, after repeated attempts in the past have brought about only failures. LTCM was the pioneer of quantification of Market Risk, and what they ended up with, was a bailout by the Fed. These mathematical theorems have mostly been useful during booms; they hardly ever sniff out the impending collapses.
bsg005 1 year ago
@bsg005
True, but these guys can't help it. It's what their profession is all about. It's only natural for them to invest time in quantifying risk and growth in order to (or pretend to) correctly hedge. If they were to ever give up the statistical analysis, they'd quit the profession and just long-term invest. I personally find their mathematical approach to be highly dangerous and ulitmately suicidal as you can't correctly discover causality through induction, period.
selfrealizedexile 1 year ago
@selfrealizedexile I agree with you 100% on that. They need a belief-system to make them comfortable and to confuse the rest of the public. The ultimate implied meaning of mathematical quantification of risk, is that human behaviour itself can be quantified with numbers. That is insane, unless of course the person doing that is the Creator of our Reality.
bsg005 1 year ago
@bsg005
There's an excellent book out on this topic called "Fooled by Randomness" written by a top hedge fund manager which you may very well have already read.
selfrealizedexile 1 year ago
@selfrealizedexile I have read that book yet, but will certainly try to get a copy sometime. Thanks for the suggestion.
bsg005 1 year ago