I Agree with Peter Schiff: Bernie Madoff should be our next FED Chief...
Cause Big Ben Bernanke stinks at Ponzi Schemes...
Any body think that, the media blitz, suggesting that the FED might possibly begin "tapering off" could make it all go away?
Don't think so.
There is no mathematical resolution to the lifeline at this point. The only thing that survives the upcoming collapse is PMs. And we as a country don't have any. In fact we have spent mucho funds trying to keep the public ignorant to the "man behind the curtain" by suppressing metal prices.
I wonder, if in seven years, the Germans end up putting a lean on our country to account for their undelivered gold. Hmmm, China may not be the lingo to brush up on after-all. :-)
So, what would have been a better course?
Imagine if Ben suppressed metals to secretly buy boat loads of it with freshly printed fiat currency, however devalued. You could argue that at least there would have been a potential pot of gold at the end of this nightmarish rainbow.
But we, or rather he, is, or was, too stupid for that...
When this all blows up, miners may end up buying the America not already owned by the countries we owe gold to. I can see Silver Wheaten buying JP Morgan...lol
These next weeks and months will be anything but boring...
Youre carping along with a throng of support from legions of bitcoin and zerohedge followers. I must give them credit as you, they are clearly not one of the "zombies" yet the leaders of this crowd offer no solutions. You don't like fiat currencies? Very well, but there can be no denying, they've been the standard for decades and are universally employed as the primary mechanism of finance for both governments and individuals. If you must blame someone, then blame Roosevelt for taking us off of the gold standard in 1933, but that a was long time ago. What would be your solution however? None of your ilk is offering anything short of annihilation of the American government, portraying them as a secret cabal of global conspirators whose sole intent is to enslave mankind so they may remain wealthy at any cost. I don't buy this, yet what is it that you advocate? Your heroes, if I am correct in identifying them, smack of the crowd that brought Hitler into power at about the same time we left the gold standard. What would ensue was tthe subsequent degradation of the entire human race -especially the German people. While I readily join you in assailing a failed system, we disagree on what caused it to fail. I could easily make the case that it has been deregulation and "free enterprise" within the banking system that has struck the most serious blow to the American people and the people of the world for that matter. I cannot support your criticism until I know more about your solutions. As I said previously, to simply ignore the relative value of the US dollar as compared to the G20 currencies is tantamount to economic suicide. The way I see it, the Fiat Currency "BLAMERS" are like a kid showing up to a game of Chess and demanding to play "Checkers" on the same board during an ongoing "game". Now they're proclaiming that the rules can be changed to their benefit; "King Me". Wrong mindedness in my book. Im still buying silver and gold &I think well of BennyB
I would think you guys would be CHEERING Bernanke. Virtually everything he's done is inflationary and that can only be seen as positive for the precious metals and miners. In addition, if what you conspiracy theorists tell us is true, then the FED and their partner, the US Treasury (owned by the people supposedly) have conspired to drive down the costs of gold and silver on the futures exchange. If that's true, then you've been given TWO huge gifts. Yet you whine? Why? Do you realize that we live in a Global Macro economic environment where the ONLY thing that truly matters to the survival of our economy is the RELATIVE value of the dollar to the value of our trading partners currencies? If Bernanke quit QE, rates would immediately rise throwing the entire WORLD into a contraction; not smart at all. So here we sit, in a game of chess with the other G20 nations. The big difference in that analogy is that there are more pieces than in a regular game of chess, and that those pieces can make incremental moves. (think headfakes). It's a lot harder than you make it out to be. Bernanke INHERITED this pile of goo and it is flawed by design IMO. Does that make me a socialist ? (god forbid) Only when it comes to the "offshoring" of your financial assets and jobs. Those activities SHOULD be taxed to hell and back in my opinion. Also, there should be a HUGE tax on foreign ownership of US Real Estate. I don't think the founding fathers planned for this to be a country of TENNANTS.
FWIW: Silver and Gold Futures Contracts EXPIRE in 10 days. They are net SHORT. A rally may begin this evening in the foreign markets as those positions are covered rather than rolled over.